Document:

Form of 2006 Stock Option Grant - Performance Options

 Exhibit 10.26 
 Standard Form – Time/Performance Options 
 SERENA SOFTWARE, INC. 
 STOCK OPTION GRANT NOTICE 
 2006 STOCK
INCENTIVE PLAN 
 Serena Software, Inc. (“Company”), pursuant to its 2006 Stock Incentive Plan (“Plan”), hereby
grants to the “Optionholder” identified below an Option (also referred to from time to time as a “Time/Performance Option”) to purchase the number of shares of the Company’s Common Stock (“Shares”) set forth below.
This Option is subject to all of the terms and conditions as set forth herein and in the Stock Option Agreement, the Plan and the Notice of Exercise, all of which are attached hereto and incorporated herein in their entirety. 
 Optionholder: 
 Date of Grant: 

	Vesting	Commencement Date: 

 Number of Shares
Subject to Option: 
 Exercise Price (Per Share): $ 
 Total Exercise Price: $ 

	Expiration	Date: 

  

					
	Type of Grant [check one]:	  	 ̈    Incentive Stock Option1	  	 ̈    Nonstatutory Stock Option
		
	Exercise Schedule:	  	Same as Vesting Schedule.
		
	Vesting Schedule:	  	As set forth in Schedule A attached hereto.
		
	Payment:	  	By cash or check (unless otherwise permitted by the Board)

 Additional Terms/Acknowledgements: The undersigned Optionholder acknowledges receipt of, and understands
and agrees to, this Grant Notice, the Stock Option Agreement and the Plan. Optionholder further acknowledges that as of the Date of Grant, this Grant Notice, the Stock Option Agreement and the Plan set forth the entire understanding between
Optionholder and the Company regarding the acquisition of stock in the Company and supersede all prior oral and written agreements on that subject with the exception of (i) options previously granted and delivered to Optionholder under the
Plan, and (ii) the agreements, if any, listed below: 
 Other Agreements:
                                        

  

							
	SERENA SOFTWARE, INC.	 	OPTIONHOLDER
			
	By:	 	  
	 	  

		 	Signature	 	Signature
				
	Title:	 	  
	 	Date:	 	  

				
	Date:	 	  
	 		 	

 Attachments: Stock Option Agreement, 2006 Stock Incentive Plan, and Notice of
Exercise 
  

	1	If this is an incentive stock option, it (plus Optionholder’s other outstanding incentive stock options) cannot be first exercisable for more than
$100,000 in any calendar year. Any excess over $100,000 is a nonstatutory stock option. 

 SERENA SOFTWARE, INC. 
 2006 STOCK INCENTIVE PLAN 
 STOCK OPTION AGREEMENT 
 (TIME/PERFORMANCE BASED STOCK OPTION) 
 Pursuant to your Stock Option Grant Notice (“Grant Notice”) and this Stock Option Agreement, Serena Software, Inc. (the “Company”) has granted you a stock option under its 2006 Stock Incentive Plan (the “Plan”)
to purchase the number of shares of the Company’s Common Stock indicated in your Grant Notice at the exercise price indicated in your Grant Notice. Capitalized terms not defined in this Stock Option Agreement or in the Grant Notice but defined
in the Plan shall have the same definitions as in the Plan. For the avoidance of doubt, the terms and conditions of the Grant Notice are a part of the Stock Option Agreement, unless otherwise specified. 
 The details and terms and conditions of this Stock Option Agreement shall govern your Option, notwithstanding any less favorable terms and conditions on
the same matter set forth in the Plan (subject, however, to Section 15 hereof): 
 1. Vesting. 
 (a) Subject to the limitations contained herein, your Option will vest as set forth in your Grant Notice, provided that vesting will cease upon
the termination of your Continuous Service. 
 (b) Notwithstanding any provision of this Stock Option Agreement to the contrary, in
the event of a Change in Control, subject to the conditions set forth in this Section 1(b), the Option shall, to the extent not then vested and not previously cancelled, become vested and exercisable, or cancelled, as the case may be, in
accordance with the terms of this Section 1(b): 
 (i) the unvested portion of your Time/Performance Option will
vest and become exercisable immediately prior to a Change in Control if, upon consummation of such Change in Control, SLP and its Affiliates have received Aggregate Proceeds (as defined in Section 1(c) below) in respect of the SLP Initial
Shares (as defined in Section 1(c) below) in an amount equal to greater than 3 times the aggregate cash purchase price paid by SLP and its Affiliates to acquire the shares of common stock of Spyglass Merger Corp. that were converted into SLP
Initial Shares at the Closing; 
 (ii) that percentage of your Time/Performance Option that previously failed to vest
at the rate of 20% per each completed fiscal year prior to such Change in Control will vest and become exercisable immediately prior to such Change in Control if, upon consummation of such Change in Control, SLP and its Affiliates have received
Aggregate Proceeds in respect of the SLP Initial Shares in an amount equal to at least 2 times the aggregate cash purchase price paid by SLP and its Affiliates to acquire the shares of common stock of Spyglass Merger Corp. that were converted into
SLP Initial Shares at the Closing. For the avoidance of doubt (A) Time/Performance Options 

 subject to vesting upon the achievement of performance objectives for fiscal years commencing after the
Change in Control will not vest or become exercisable as a result of the Change in Control, and (B) Time/Performance Options subject to vesting upon the achievement of performance objectives for the fiscal year in which the Change in Control
occurs will vest on a pro-rata basis based upon the number of full weeks which have elapsed during such fiscal year prior to the Change in Control and without regard to actual financial performance during such fiscal year (based on an assumed
maximum vesting percentage of 20% for such fiscal year); and 
 (iii) No additional portion of your Time/Performance Option
will vest upon a Change in Control if, upon consummation of such Change in Control, SLP and its Affiliates have not received Aggregate Proceeds in respect of the SLP Initial Shares in an amount equal to at least 2 times the aggregate cash purchase
price paid by SLP and its Affiliates to acquire the shares of common stock of Spyglass Merger Corp. that were converted into SLP Initial Shares at the Closing. For the avoidance of doubt, any portion of your Time/Performance Option that has not
vested prior to a Change in Control and does not vest as a result of the Change in Control shall terminate upon a Change in Control. 
 (c) For purposes of Section 1(b) only: 
 (i) “Aggregate Proceeds” means the sum of all cash
proceeds and the fair value of all marketable securities and other property received by SLP and its Affiliates (in each case net of any commissions, fees or other expenses payable by SLP or its Affiliates in connection with the sale or other
transaction resulting in the receipt of such cash, marketable securities or other property) in respect of (A) all sales of SLP Initial Shares (except a sale to a SLP Affiliated Fund), including any cash, marketable securities or other property
received by SLP and its Affiliates in any merger, consolidation or similar transaction resulting in a Change of Control and (B) all dividends or other distributions paid or made to SLP and its Affiliates in respect of the SLP Initial Shares.
For purposes of the foregoing definition, (x) marketable securities shall be securities that are listed on the New York Stock Exchange, the Nasdaq National Market or another national securities exchange or market and the fair value of
marketable securities will be the closing sales price for such marketable securities (or the closing bid, if no sales were reported) as quoted on such exchange or market (or the exchange or market with the greatest volume of trading in such
marketable securities) on the last market trading day prior to the day of determination, as reported in The Wall Street Journal or such other source as the Board deems reliable, and (y) the fair value of any other property shall be
determined in good faith by the Board, subject in either of the foregoing clauses (x) and (y) to adjustment by the Board in good faith to take into account any restrictions on transferability, liquidity or saleability of such marketable
securities or other property. In addition, in evaluating the amount of Aggregate Proceeds received in connection with any sale of SLP Initial Shares (except a sale to a SLP Affiliated Fund), (x) the Board may take into consideration amounts
paid into escrow and contingent payments made in connection with any transaction and (y) such Aggregate Proceeds will be reduced by any indemnity or similar payments made by SLP and its Affiliates to the extent the amounts of such payments were
not previously deducted when calculating the Aggregate Proceeds. 
  

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 (ii) “Post-Closing Syndication” means the transfer of up to an aggregate
16,384,000 (as adjusted for any stock split, reverse stock split, combination, recapitalization or reclassification) shares of Common Stock no later than 6 months after the Closing for a cash price of no more than $5.00 per share (as adjusted for
any stock split, reverse stock split, combination, recapitalization or reclassification), which transfer or transfers may be to an Affiliate of SLP. 
 (iii) “SLP Affiliated Fund” means any investment fund that is an Affiliate of SLP. 
 (iv) “SLP Initial Shares” means the Common Stock received by SLP and its Affiliates at the Closing (excluding any shares of Common Stock transferred after Closing in a Post-Closing Syndication) and any consideration (other than
cash or marketable securities) received by SLP and its Affiliates in connection with any sale of SLP Initial Shares or as a dividend or other distribution on SLP Initial Shares. 
 2. Number of Shares and Exercise Price. The number of shares of Common Stock subject to your Option and your exercise price per share
referenced in your Grant Notice may be adjusted from time to time for various adjustments in the Company’s equity capital structure, as provided in the Plan. 
 3. Method of Payment. 
 (a) Payment of the exercise price is due in full upon exercise
of all or any part of your Option. You may elect to make payment of the exercise price in cash or by check. Alternatively, provided that at the time of exercise there is a public market for the shares of Common Stock, your exercise may be
implemented pursuant to a program developed under Regulation T as promulgated by the Federal Reserve Board that, prior to the issuance of Common Stock, results in either the receipt of cash (or check) by the Company or the receipt of irrevocable
instructions to pay the aggregate exercise price to the Company from the sales proceeds. Notwithstanding the terms of the previous sentence, you may not be permitted to exercise your Option pursuant to a program developed under Regulation T as
promulgated by the Federal Reserve Board if such exercise would violate the provisions of Section 402 of the Sarbanes-Oxley Act of 2002. 
 (b) You may elect to make payment of the exercise price, in whole or in part, in shares of Common Stock having a Fair Market Value equal to the amount of the aggregate exercise price or such portion thereof, as applicable; provided,
however, that you must satisfy all such requirements as may be imposed by the Board including without limitation that you have held such shares for not less than six months (or such other period as established from time to time by the Board in order
to avoid a supplemental charge to earnings for financial accounting purposes). 
 (c) Where you elect to pay the exercise price of an
Option and/or taxes relating to the exercise of an Option by delivering shares of Common Stock, you may, subject to procedures satisfactory to the Board, satisfy such delivery requirement by presenting proof that you are the Beneficial Owner of such
shares of Common Stock, in which case the Company shall treat the Option as exercised without further payment and shall withhold such number of shares from the Shares acquired by the exercise of the Option. 
  

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 (d) The Company may permit you to make payment of the exercise price in any other form of legal
consideration that may be acceptable to the Board in its sole discretion. 
 4. Whole Shares. You may exercise your Option only
for whole shares of Common Stock. 
 5. Compliance. 
 (a) Securities Law Compliance. Notwithstanding anything to the contrary contained herein, you may not exercise your Option unless the
Shares of Common Stock issuable upon such exercise are then registered under the Securities Act or, if such Shares are not then so registered, the Company has determined that such exercise and issuance would be exempt from the registration
requirements of the Securities Act. The exercise of your Option must also comply with other applicable laws and regulations governing your Option, and you may not exercise your Option if the Company determines that such exercise would not be in
material compliance with such laws and regulations. 
 (b) Plan Compliance. Notwithstanding anything to the contrary contained
herein, you may not exercise your Option if the terms of the Plan do not permit the exercise of Options, or if the Company exercises its rights under the Plan to suspend, delay or restrict the exercise of Options. 
 6. Term. You may not exercise your Option before the commencement of its term on the Date of Grant or after its term expires. Subject to
the provisions of the Plan and this Stock Option Agreement, you may exercise all or any part of the vested portion of the Option at any time prior to the earliest to occur of: 
 (a) the date on which your Continuous Service is terminated for Cause; 
 (b) three (3) months after you terminate your Continuous Service by resigning without Good Reason; 
 (c) twelve (12) months after the termination of your Continuous Service without Cause or after you terminate your Continuous
Service by resigning for Good Reason; 
 (d) twelve (12) months after the termination of your Continuous Service
due to your Disability; 
 (e) twelve (12) months after the termination of your Continuous Service due to your
death; or 
 (f) the Expiration Date indicated in the Grant Notice. 
 Notwithstanding the foregoing, if the exercise of your Option is prevented within the applicable time periods set forth in Sections 6(b), (c) or (d) for any
reason, your Option shall not expire before the date that is thirty (30) days after the date that you are notified by the Company that the Option is again exercisable, but in any event no later than the Expiration Date indicated in your

  

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 Grant Notice; provided, however, that if the Grant Notice designates your Option as an Incentive Stock Option, and if any
such extension causes the term of your Option to exceed the maximum term allowable for Incentive Stock Options, your Option shall cease to be treated as an Incentive Stock Option and instead shall be treated thereafter as a Nonstatutory Stock
Option. 
 7. Exercise Procedures. 
 (a) Subject to Section 5 above and other relevant terms and conditions of the Plan and this Stock Option Agreement, you may exercise the vested portion of your Option during its term by delivering a Notice
of Exercise (in a form designated by the Company) together with the exercise price to the Company’s Chief Financial Officer, or to such other person as the Company may designate, during regular business hours, together with such additional
documents as the Company may then reasonably require. 
 (b) By exercising your Option you agree that, as a condition to any exercise
of your Option, the Company may require you to enter into an arrangement providing for the payment by you to the Company of any tax withholding obligation of the Company (including any Affiliate) arising by reason of (1) the exercise of your
Option, or (2) other applicable events. 
 (c) By exercising your Option you agree that, as a condition to any exercise of your
Option, you and your spouse, if requested by the Company, contemporaneously with the exercise of your Option and prior to the issuance of any certificate representing the Shares of Common Stock purchased upon the exercise of your Option, shall
execute the Management Stockholders Agreement, including any and all amendments to such agreement in effect at the time of such exercise. 
 (d) By exercising your Option you agree that the Company (or a representative of the underwriter(s)) may, in connection with the first underwritten registration of the offering of any equity securities of the Company under the
Securities Act (or any underwritten registration of any securities of the Company prior to that time), require that for a specified period of time, you not sell, dispose of, transfer, make any short sale of, grant any option for the purchase of, or
enter into any hedging or similar transaction with the same economic effect as a sale, any shares of Common Stock or other securities of the Company held by you. You further agree to execute and deliver such other agreements as may be reasonably
requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the Company may impose stop transfer instructions with
respect to your shares of Common Stock until the end of such period. The underwriters of the Company’s stock are intended third party beneficiaries of this Section 7(d) and shall have the right, power and authority to enforce the
provisions hereof as though they were a party hereto. 
 (e) As a condition of any exercise of your Option, you and your spouse, if
any, agree that prior to the effectiveness of the first underwritten registration of the Company’s equity securities under the Securities Act, you shall not transfer any or all of the shares of Common Stock purchased upon exercise of your
Option unless permitted to do so under the terms of the Plan or the Management Stockholders Agreement. 
  

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 8. Documents Governing Issued Common Stock. Shares of Common Stock that you acquire upon
exercise of your Option are subject to the terms of the Plan, the Company’s bylaws, the Company’s certificate of incorporation, any agreement relating to such shares of Common Stock to which you become a party, or any other similar
document. You should ensure that you understand your rights and obligations as a stockholder of the Company prior to the time that you exercise your Option. 
 9. Limitations on Transfer of Options. Your Option is not transferable, except by will or by the laws of descent and distribution, and is exercisable during your life only by you. Notwithstanding the
foregoing, by delivering written notice to the Company, in a form satisfactory to the Company, you may designate a third party who, in the event of your death, shall thereafter be entitled to exercise your Option. 
 10. Rights Upon Exercise. You will not have any rights to dividends or other rights of a stockholder with respect to the Shares subject to
the Option until you have given written notice of the exercise of the Option, paid in full for such Shares and, if applicable, satisfied any other conditions imposed by the Board pursuant to the Plan. 
 11. Option Not a Service Contract. Your Option is not an employment contract, and nothing in your Option shall be deemed to create in any
way whatsoever any obligation on your part to continue in the employ or service of the Company or any of its Affiliates, or of the Company or any of its Affiliates to continue your employment. In addition, nothing in your Option shall obligate the
Company or any of its Affiliates, their respective stockholders, Boards of Directors, officers or employees to continue any relationship that you might have as a Director or Consultant or otherwise for the Company or any of its Affiliates.

 12. Withholding Obligations and Notice Requirement. 
 (a) At the time you exercise your Option, in whole or in part, or at any time thereafter as requested by the Company, you hereby authorize
withholding from payroll and any other amounts payable to you, and otherwise agree to make adequate provision for (including by means of a “same day sale” program developed under Regulation T as promulgated by the Federal Reserve Board to
the extent permitted by the Company and applicable law, including, but not limited to, Section 402 of the Sarbanes-Oxley Act of 2002) any sums required to satisfy the federal, state, local and foreign tax withholding obligations of the Company
or any of its Affiliates, which arise in connection with your Option. 
 (b) You may not exercise your Option unless the tax
withholding obligations of the Company and/or any Affiliate are satisfied or appropriate arrangements (acceptable to the Company) are made therefor. 
 (c) You agree to promptly notify the Company of any disposition of Shares issued pursuant to the exercise of an Incentive Stock Options that results in a “disqualifying disposition” for purposes of
Section 421 of the Code. 
 13. Notices. Any notices provided for in your Option or the Plan shall be given in writing and
shall be deemed effectively given upon receipt, or in the case of notices delivered by mail to you, five (5) days after deposit in the United States mail (or with another delivery service), certified or registered mail, return receipt
requested, postage prepaid, addressed to you at the last address you provided to the Company. 
  

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 14. Signature in Counterparts. This Stock Option Agreement may be signed in counterparts,
each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. 
 15.
Option Subject to Plan Document. By entering into this Stock Option Agreement, you agree and acknowledge that you have received and read a copy of the Plan and Management Stockholders Agreement. The Option is subject to the terms and
provisions of the Plan and the Management Stockholders Agreement and such terms and provisions are hereby incorporated herein by reference. In the event of a conflict between any term or provision contained herein and a term or provision of the Plan
or the Management Stockholders Agreement, the applicable terms and provisions of the Plan or Management Stockholders Agreement, as applicable, will govern and prevail. In the event of a conflict between any term or provision of the Plan and any term
or provision of the Management Stockholders Agreement, the applicable terms and provisions of the Management Stockholders Agreement will govern and prevail. 
  

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 NOTICE OF EXERCISE 
  

			
	 Serena Software, Inc.
 2755 Campus Drive, 3rd Floor
 San Mateo, California
94403-2538
	 	Date of Exercise:                     

 Ladies and Gentlemen: 
 This constitutes notice under my stock option that I elect to purchase the number of Shares for the price set forth below. 
  

						
	 Type of option (check one):
	  	Incentive	  	Nonstatutory
	 Stock option dated:
	  	 	___________	  	
			
	 Number of Shares as to which option is exercised:
	  	 	___________	  	
			
	 Certificates to be issued in name of:
	  	 	___________	  	
			
	 Total exercise price:
	  	$	                        	  	
			
	 Consideration delivered herewith:
	  	$	                        	  	

 By this exercise, I agree (i) to execute or provide such additional documents as Serena
Software, Inc. (the “Company”) may reasonably require pursuant to the terms of this Notice of Exercise and the Company’s 2006 Stock Incentive Plan (the “Plan”), and (ii) to provide for the payment by me to the Company
(in the manner designated by the Company) of the Company’s withholding obligation, if any, relating to the exercise of this Option. 
 I
hereby make the following certifications and representations with respect to the number of shares of Common Stock of the Company listed above (the “Shares”): 
 I am aware that my investment in the Company is a speculative investment that has limited liquidity and is subject to the risk of complete loss. I am able, without impairing my financial condition, to hold the Shares
for an indefinite period and to suffer a complete loss of my investment in the Shares. 
 I represent and warrant to the Company that I am
acquiring and will hold the Shares for investment for my account only, and not with a view to, or for resale in connection with, any “distribution” of the Shares within the meaning of the Securities Act of 1933 (the “Securities
Act”) or the similar laws of any state or foreign jurisdiction. 
 I understand that the Shares have not been registered under the
Securities Act, the Securities Exchange Act of 1934, or under the similar laws of any state or foreign jurisdiction 

 (collectively, “Applicable Securities Laws”) by reason of a specific exemption therefrom and that the Shares
must be held indefinitely, unless they are subsequently registered under the Applicable Securities Laws or I obtain an opinion of counsel (in form and substance satisfactory to the Company and its counsel) that registration is not required.

 I acknowledge that the Company is under no obligation to register the Shares under Applicable Securities Laws. 
 I am aware of the adoption of Rule 144 by the Securities and Exchange Commission under the Securities Act, which permits limited public resales of
securities acquired in a non-public offering, subject to the satisfaction of certain conditions. These conditions may include (without limitation) that certain current public information about the issuer is available, that the resale occurs only
after the holding period required by Rule 144 has been satisfied, that the sale occurs through an unsolicited “broker’s transaction” and that the amount of securities being sold during any three-month period does not exceed specified
limitations. I understand that the conditions for resale set forth in Rule 144 have not been satisfied and that the Company has no plans to satisfy these conditions in the foreseeable future. 
 I will not sell, transfer or otherwise dispose of the Shares in violation of the Plan, the agreement under which my right to acquire the Shares was
granted, Applicable Securities Laws, or the rules promulgated thereunder, including Rule 144 under the Securities Act. 
 I acknowledge that
I have received and had access to such information as I consider necessary or appropriate for deciding whether to invest in the Shares and that I had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the issuance of the Shares. 
 I acknowledge that the Shares will be subject to certain encumbrances, including, but not
limited to, drag along rights in favor of certain stockholders of the Company, repurchase rights in favor of the Company, limitations on transfer, and other encumbrances set forth in the Plan, Stock Option Agreement, other applicable agreements
and/or described in the Company’s bylaws or certificate of incorporation in effect at such time as the Company or such other person elects to exercise its or his right. 
 I acknowledge that I am acquiring the Shares subject to all other terms of the Plan, the Stock Option Grant Notice, and the Stock Option Agreement.

 I further agree that if required by the Company (or a representative of the underwriter(s)) in connection with the first underwritten
registration of the offering of any equity securities of the Company under the Securities Act (or any underwritten registration of any securities of the Company prior to that time), for a specified period of time, I will not sell, dispose of,
transfer, make any short sale of, grant any option for the purchase of, or enter into any hedging or similar transaction with the same economic effect as a sale, any Shares or other securities of the Company held by me. I further agree to execute
and deliver such other agreements as may be reasonably requested by the Company and/or the underwriter(s) that are consistent with the foregoing or that are necessary to give further effect thereto. In order to enforce the foregoing covenant, the
Company may impose stop transfer instructions with respect to my Shares until the end of such period. 
  

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 I agree, and as a condition of exercise if I am married I will obtain the agreement of my spouse, that
prior to the effectiveness of the first underwritten registration of the Company’s equity securities under the Securities Act, I will not transfer any or all of the Shares unless pursuant to an exception provided in the Plan or the Stock Option
Agreement. 
 I agree that as a condition to this exercise, the certificates evidencing the Shares shall remain in the physical custody of
the Company or its designee at all times prior to the last to occur of (i) the date on which all contractual restrictions set forth in the Plan, the Company’s Articles of Incorporation and/or bylaws, or in the documents evidencing the
Stock Option Agreement lapse, or (ii) the date on which all contractual requirements set forth in the Plan, the Company’s Articles of Incorporation and/or bylaws, or in the documents evidencing the Stock Option Agreement are satisfied. As
a condition to this exercise I agree to execute three (3) copies of the Assignment Separate From Certificate (with date and number of Shares blank) substantially in the form attached to this Notice of Exercise as Attachment A, and two
(2) copies of the Joint Escrow Instructions substantially in the form attached to this Notice of Exercise as Attachment B, and to deliver the same to the Company, along with such additional documents as the Company may require. 
 I further acknowledge that all certificates representing any of the Shares subject to the provisions of my Option shall have endorsed thereon appropriate
legends reflecting the foregoing limitations, as well as any legends reflecting restrictions pursuant to the Company’s Certificate of Incorporation, by-laws, and/or Applicable Securities Laws. 
 I agree to seek the consent of my spouse to the extent required by the Company to enforce the foregoing. 
  

	
	Very truly yours,
	
	  

 ATTACHMENTS: 
 A. Form of Assignment Separate from Certificate 
 B. Form of Joint Escrow Instructions 
  

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 ATTACHMENT A 
 FORM OF ASSIGNMENT SEPARATE FROM CERTIFICATE 

 ASSIGNMENT SEPARATE FROM CERTIFICATE 
 FOR VALUE RECEIVED and pursuant to that certain Stock Option Grant Notice and Stock
Option Agreement,
                                        
hereby sells, assigns and transfers unto
                                        
                                        
             (“Assignee”)
                                        
             (                    ) shares of the Common Stock of Serena
Software, Inc. (“Shares”), standing in the undersigned’s name on the books of said corporation represented by Certificate
No.                      herewith and do hereby irrevocably constitute and appoint
                                        
             as attorney-in-fact to transfer the said stock on the books of the within named issuer with full power of substitution in the premises. This Assignment may be used only in
accordance with and subject to the terms and conditions of the Stock Option Agreement and the Plan, in connection with the reacquisition or transfer of the Shares issued to the undersigned pursuant to the Stock Option Agreement, and only to the
extent that such Shares remain subject to the transferee’s rights to acquire the Shares and other restrictions applicable under the Stock Option Agreement and the Plan. 
 Dated:                      
  

			
	Signature:	 	  

		
	Print Name:	 	  

 [INSTRUCTION: Please do not fill in any blanks other than the signature
line. The purpose of this Assignment is to enable the Company to administer its rights set forth in the Award without requiring additional signatures on your part.] 

 ATTACHMENT B 
 FORM OF JOINT ESCROW INSTRUCTIONS 

 JOINT ESCROW INSTRUCTIONS 
 [Date] 
 Attn: [Title] 
 [Address] 
 Dear Sir/Madam: 
 As Escrow
Agent for both Serena Software, Inc. (the “Company”), and the undersigned recipient of stock of the Company (“Recipient”), you are hereby authorized and directed to hold the documents delivered to you pursuant to the terms of the
“Plan” and “Stock Option Agreement” (as referenced in the Notice of Exercise to which this document is attached), in accordance with the following instructions: 
 1. In the event that (i) certain stockholders of the Company exercise their drag-along rights, (ii) the Company exercises its repurchase rights,
(iii) the Company exercises its rights to require that the Shares be contributed to a trust as set forth in Section 13(b) of the Plan, or (iv) the Company or any other Person exercises other contractual rights applicable to the Shares
and in effect as of the date hereof, the Company or its assignee will give to Recipient and you a written notice specifying that the Shares of stock shall be transferred as described in the Plan, the Recipient’s Stock Option Agreement, or other
applicable governing documents. Recipient and the Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 
 At the closing, you are directed (a) to date any stock assignments necessary for the transfer in question, (b) to fill in the number of Shares
being transferred, and (c) to deliver same, together with the certificate evidencing the Shares of stock to be transferred, to the Company or other proper transferee. 
 2. In the event that all applicable restrictions lapse, and when certain requirements are satisfied, the Company or its assignee will give to Recipient
and you a written notice specifying that the appropriate number of Shares shall be transferred to the Recipient along with any cash or in-kind dividends declared subsequent to the date hereof and which relate to such Shares. Recipient and the
Company hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 
 At the closing, you are directed to deliver a certificate evidencing the appropriate number of Shares, together with any cash or in-kind dividends declared subsequent to the date hereof and which relate to such
Shares, to the Recipient. 
 3. Recipient irrevocably authorizes the Company to deposit with you any certificates evidencing Shares of stock
to be held by you hereunder and any additions and substitutions to said Shares as specified in the Stock Option Grant Notice or the Stock Option Agreement. Recipient does hereby irrevocably constitute and appoint you as Recipient’s
attorney-in-fact and 

 agent for the term of this escrow to execute with respect to such securities and other property all documents of
assignment and/or transfer and all stock certificates necessary or appropriate to make all securities negotiable and to complete any transaction herein contemplated. 
 4. This escrow shall terminate upon the date on which all contractual restrictions or requirements set forth in the Plan or in the documents evidencing the restrictions applicable to the Shares lapse or are satisfied
as determined by the Company. 
 5. If at the time of termination of this escrow you should have in your possession any documents,
securities, or other property belonging to Recipient, you shall deliver all of same to any pledgee entitled thereto or, if none, to Recipient and shall be discharged of all further obligations hereunder. 
 6. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 
 7. You shall be obligated only for the performance of such duties as are specifically set forth herein and may rely and shall be protected in relying or
refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties or their assignees. You shall not be personally liable for any act you may do or omit to do
hereunder as Escrow Agent or as attorney-in-fact for Recipient while acting in good faith and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such good faith. 
 8. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other person or corporation,
excepting only orders or process of courts of law, and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree of any court, you shall not
be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or found to have
been entered without jurisdiction. 
 9. You shall not be liable in any respect on account of the identity, authority or rights of the
parties executing or delivering or purporting to execute or deliver the Stock Option Grant Notice or any documents or papers deposited or called for hereunder. 
 10. You shall not be liable for the outlawing of any rights under any statute of limitations with respect to these Joint Escrow Instructions or any documents deposited with you. 
 11. You shall be entitled to employ such legal counsel, including but not limited to Simpson Thacher & Bartlett LLP, and other experts as you
may deem necessary to advise you in connection with your obligations hereunder, and you may rely upon the advice of such counsel, and may pay such counsel reasonable compensation for such advice. 
 12. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be [Fill in Title of Escrow Agent] of the Company or if you
shall resign by written notice to each party. In the event of any such termination, the Company may appoint any officer or 
  

 2 

 assistant officer of the Company as successor Escrow Agent and Recipient hereby confirms the appointment of such
successor or successors as his attorney-in-fact and agent to the full extent of your appointment. 
 13. If you reasonably require other or
further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 
 14. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the securities, you
may (but are not obligated to) retain in your possession without liability to anyone all or any part of said securities until such dispute shall have been settled either by mutual written agreement of the parties concerned or by a final order,
decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such proceedings. 
 15. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal delivery or upon deposit in
the United States mail (or upon deposit with another delivery service), with postage and fees prepaid, addressed to each of the other parties hereunto entitled at the following addresses, or at such other addresses as a party may designate by ten
(10) days’ written notice to each of the other parties hereto: 
  

			
	COMPANY:	  	Serena Software, Inc.
		  	 2755 Campus Drive, 3rd Floor
 San Mateo, California 94403-2538

		  	Attn: [Title]
		
	RECIPIENT:	  	___________________
		
		  	___________________
		
		  	___________________
		
		  	___________________
		
	ESCROW AGENT:	  	[Name]
		  	[Address]
		  	Attn: [Fill in Title]

 16. By signing these Joint Escrow Instructions you become a party hereto only for the purpose of
said Joint Escrow Instructions; you do not become a party to the Notice of Exercise. 
  

 3 

 17. This instrument shall be binding upon and inure to the benefit of the parties hereto, and their
respective successors and permitted assigns. It is understood and agreed that references to “you” or “your” herein refer to the original Escrow Agent and to any and all successor Escrow Agents. It is understood and agreed that
the Company may at any time or from time to time assign its rights under the Stock Option Agreement, the Notice of Exercise and these Joint Escrow Instructions in whole or in part. 
  

							
		 		 	Very truly yours,
			
		 		 	SERENA SOFTWARE, INC.
				
		 		 	By:	 	  

			
		 		 	RECIPIENT
			
		 		 	  

		 		 	[Participant’s Name]
	ESCROW AGENT:	 		 	
				
	BY:	 	  
	 		 	
				
	NAME:	 	  
	 		 	

  

 4Security Agreement

 EXHIBIT 10.28 
 SECURITY AGREEMENT 
 SECURITY AGREEMENT dated as of March 10, 2006, among SPYGLASS MERGER CORP., a
Delaware corporation (the “Borrower”) (to be merged with and into SERENA SOFTWARE, INC., a Delaware corporation (the “Company”)), each of the Subsidiaries of the Company listed on the signature pages hereto (each
such entity being a “Subsidiary Grantor” and, collectively, the “Subsidiary Grantors”; the Subsidiary Grantors and the Borrower are referred to collectively as the “Grantors”) and LEHMAN COMMERCIAL
PAPER INC., as Collateral Agent (in such capacity, the “Collateral Agent”) under the Credit Agreement (as defined below) for the benefit of the Secured Parties (as defined below). 
 W I T N E S S E T H: 
 WHEREAS, the Borrower is a party to the Credit Agreement, dated as of March 10, 2006 (as amended, amended and restated, supplemented or otherwise
modified, refinanced or replaced from time to time, the “Credit Agreement”), among the Borrower, the Company, the lending institutions from time to time party thereto (each a “Lender” and collectively, the
“Lenders”), LEHMAN COMMERCIAL PAPER INC., as Administrative Agent and as Collateral Agent, LEHMAN BROTHERS INC., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED and UBS SECURITIES LLC, as Joint Lead Arrangers and Joint Lead
Bookrunners, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as Syndication Agent and UBS SECURITIES LLC, as Documentation Agent; 
 WHEREAS, (a) pursuant to the Credit Agreement, the Lenders have severally agreed to make Loans to the Borrower and the Letter of Credit Issuer has agreed to issue Letters of Credit for the account of the Borrower (collectively, the
“Extensions of Credit”) upon the terms and subject to the conditions set forth therein and (b) one or more Lenders or affiliates of Lenders may from time to time enter into Hedge Agreements with the Borrower; 
 WHEREAS, pursuant to the Guarantee (the “Guarantee”) dated as of the date hereof, each Subsidiary Grantor party thereto has
unconditionally and irrevocably guaranteed, as primary obligor and not merely as surety, to the Collateral Agent for the benefit of the Secured Parties the prompt and complete payment and performance when due (whether at the stated maturity, by
acceleration or otherwise) of the Obligations; 
 WHEREAS, each Subsidiary Grantor is a Subsidiary Guarantor; 
 WHEREAS, the proceeds of the Extensions of Credit will be used in part to enable the Borrower to make valuable transfers to the Subsidiary Grantors in
connection with the operation of their respective businesses; 
 WHEREAS, each Grantor acknowledges that it will derive substantial direct
and indirect benefit from the making of the Extensions of Credit; and 
 WHEREAS, it is a condition precedent to the obligation of the
Lenders and the Letter of Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit Agreement that the Grantors shall have executed and delivered this Security Agreement to the Collateral Agent for the ratable
benefit of the Secured Parties; 
 NOW, THEREFORE, in consideration of the premises and to induce each of the Administrative Agent, the
Collateral Agent, the Syndication Agent, the Documentation Agent, the Lenders and 

 the Letter of Credit Issuer to enter into the Credit Agreement and to induce the respective Lenders and the Letter of
Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit Agreement and to induce one or more Lenders or affiliates of Lenders to enter into Hedge Agreements, the Grantors hereby agree with the Collateral Agent,
for the ratable benefit of the Secured Parties, as follows: 
 1. Defined Terms. 
 1.1 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement.

 1.2 Terms used herein without definition that are defined in the UCC have the meanings given to them in the UCC, including the following
terms (which are capitalized herein): Account, Chattel Paper, Deposit Account; Documents, Instruments, Inventory, Letter-of-Credit Right, Securities Account; “Instruments” shall have the meaning given to such term in Article 9 of the UCC.

 1.3 The following terms shall have the following meanings: 
 “Collateral” shall have the meaning provided in Section 2. 
 “Collateral
Account” shall mean any collateral account established by the Collateral Agent as provided in Section 5.1 or Section 5.3. 
 “Collateral Agent” shall have the meaning provided in the preamble hereto. 
 “Copyright License”
shall mean any written agreement, now or hereafter in effect, granting any right to any third party under any copyright now or hereafter owned by any Grantor (including all Copyrights) or that any Grantor otherwise has the right to license, or
granting any right to any Grantor under any copyright now or hereafter owned by any third party, and all rights of any Grantor under any such agreement. 
 “copyrights” shall mean, with respect to any Person, all of the following now owned or hereafter acquired by such Person: (i) all copyright rights in any work subject to the copyright laws of the
United States or any other country, whether as author, assignee, transferee or otherwise, and (ii) all registrations and applications for registration of any such copyright in the United States or any other country, including registrations,
recordings, supplemental registrations and pending applications for registration in the United States Copyright Office. 
 “Copyrights” shall mean all copyrights now owned or hereafter acquired by any Grantor, including those listed on Schedule 1 hereto. 
 “equipment” shall mean all “equipment,” as such term is defined in Article 9 of the UCC, now or hereafter owned by any Grantor or to which any Grantor has rights and, in any event, shall
include all machinery, equipment, furnishings, movable trade fixtures and vehicles now or hereafter owned by any Grantor or to which any Grantor has rights and any and all Proceeds, additions, substitutions and replacements of any of the foregoing,
wherever located, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto; but excluding equipment to the extent it is subject to a Lien permitted by the Credit Agreement and the terms of the
Indebtedness securing such Lien prohibit assignment of, or granting of a security interest in, such Grantor’s rights and interests therein (other than to the extent that any such prohibition would be rendered ineffective pursuant to Sections
9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) 
  

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 of any relevant jurisdiction or any other applicable law), provided, that immediately upon the repayment of all
Indebtedness secured by such Lien, such Grantor shall be deemed to have granted a Security Interest in all the rights and interests with respect to such equipment. 
 “Extensions of Credit” shall have the meaning assigned to such term in the recitals hereto. 
 “General Intangibles” shall mean all “general intangibles” as such term is defined in Article 9 of the UCC and, in any event, including with respect to any Grantor, all contracts, agreements, instruments and
indentures in any form, and portions thereof, to which such Grantor is a party or under which such Grantor has any right, title or interest or to which such Grantor or any property of such Grantor is subject, as the same may from time to time be
amended, supplemented or otherwise modified, including (a) all rights of such Grantor to receive moneys due and to become due to it thereunder or in connection therewith, (b) all rights of such Grantor to receive proceeds of any insurance,
indemnity, warranty or guarantee with respect thereto, (c) all claims of such Grantor for damages arising out of any breach of or default thereunder and (d) all rights of such Grantor to terminate, amend, supplement, modify or exercise
rights or options thereunder, to perform thereunder and to compel performance and otherwise exercise all remedies thereunder, in each case to the extent the grant by such Grantor of a Security Interest pursuant to this Security Agreement in its
right, title and interest in any such contract, agreement, instrument or indenture (i) is not prohibited by such contract, agreement, instrument or indenture without the consent of any other party thereto, (ii) would not give any other
party to any such contract, agreement, instrument or indenture the right to terminate its obligations thereunder or (iii) is permitted with consent if all necessary consents to such grant of a Security Interest have been obtained from the other
parties thereto (other than to the extent that any such prohibition referred to in clauses (i), (ii) and (iii) would be rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor
provision or provisions) of any relevant jurisdiction or any other applicable law) (it being understood that the foregoing shall not be deemed to obligate such Grantor to obtain such consents), provided that the foregoing limitation shall not
affect, limit, restrict or impair the grant by such Grantor of a Security Interest pursuant to this Security Agreement in any Account or any money or other amounts due or to become due under any such contract, agreement, instrument or indenture.

 “Guarantee” shall have the meaning assigned to such term in the recitals hereto. 
 “Guarantors” shall mean each Subsidiary Guarantor. 
 “Grantor” shall have the meaning assigned to such term in the recitals hereto. 
 “Intellectual Property” shall mean all of the following now owned or hereafter acquired by any Grantor: rights, priorities and privileges relating to intellectual property, whether arising under United States, multinational
or foreign laws or otherwise now owned or hereafter acquired, including (a) all information used or useful arising from the business including all goodwill, trade secrets, trade secret rights, know-how, customer lists, processes of production,
ideas, confidential business information, techniques, processes, formulas and all other proprietary information, and (b) the Copyrights, the Patents, the Trademarks and the Licenses and all rights to sue at law or in equity for any infringement
or other impairment thereof, including the right to receive all proceeds and damages therefrom, in each case to the extent the grant by such Grantor of a Security Interest pursuant to this Security Agreement in any such rights, priorities and
privileges relating to intellectual property (i) is not prohibited by any contract, agreement or other instrument governing such rights, priorities and privileges without the consent of any other party thereto, (ii) would not give any
other party to any such contract, agreement or other instrument the right to terminate its obligations thereunder or (iii) is permitted with consent if all necessary consents to such grant of a Security Interest have been obtained from the
relevant parties (other than to the extent 
  

 -3- 

 that any such prohibition referred to in clauses (i), (ii) and (iii) would be rendered ineffective pursuant to
Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) (it being understood that the foregoing shall not be deemed to obligate such
Grantor to obtain such consents). 
 “Investment Property” shall mean all Securities (whether certificated or
uncertificated), Security Entitlements, Securities Accounts, Commodity Contracts and Commodity Accounts of any Grantor (other than as pledged pursuant to the Pledge Agreement), whether now or hereafter acquired by any Grantor, in each case to the
extent the grant by a Grantor of a Security Interest therein pursuant to this Security Agreement in its right, title and interest in any such Investment Property (i) is not prohibited by any contract, agreement, instrument or indenture
governing such Investment Property without the consent of any other party thereto, (ii) would not give any other party to any such contract, agreement, instrument or indenture the right to terminate its obligations thereunder or (iii) is
permitted with consent if all necessary consents to such grant of a Security Interest have been obtained from the other parties thereto (other than to the extent that any such prohibition referred to in clauses (i), (ii) and (iii) would be
rendered ineffective pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the Uniform Commercial Code (or any successor provision or provisions) of any relevant jurisdiction or any other applicable law) (it being understood that the foregoing shall
not be deemed to obligate such Grantor to obtain such consents). 
 “License” shall mean any Patent License, Trademark
License, Copyright License or other license or sublicense to which any Grantor is a party. 
 “Obligations” shall mean the
collective reference to (i) the due and punctual payment of (x) the principal of and premium, if any, and interest at the applicable rate provided in the Credit Agreement (including interest at the contract rate applicable upon default
accrued or accruing after the commencement of any proceeding, under the Bankruptcy Code or any applicable provision of comparable state or foreign law, whether or not such interest is an allowed claim in such proceeding) on the Loans, when and as
due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (y) each payment required to be made by the Borrower under the Credit Agreement or any other Credit Documents in respect of any Letter of Credit,
when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral, and (z) all other monetary obligations, including fees, costs, expenses and indemnities, whether
primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any proceeding under the Bankruptcy Code or any applicable provision of comparable state or foreign law, whether or not such
interest is an allowed claim in such proceeding), of the Borrower or any other Credit Party to any of the Secured Parties under the Credit Agreement and any other Credit Documents, (ii) the due and punctual performance of all covenants,
agreements, obligations and liabilities of the Borrower under or pursuant to the Credit Agreement and the other Credit Documents, (iii) the due and punctual payment and performance of all the covenants, agreements, obligations and liabilities
of each other Credit Party under or pursuant to this Security Agreement or the other Credit Documents, (iv) the due and punctual payment and performance of all obligations of each Credit Party under each Hedge Agreement that (x) is in
effect on the Closing Date with a counterparty that is a Lender or an affiliate of a Lender as of the Closing Date or (y) is entered into after the Closing Date with any counterparty that is a Lender or an affiliate of a Lender at the time such
Hedge Agreement is entered into and (v) the due and punctual payment and performance of all obligations in respect of overdrafts and related liabilities owed to the Administrative Agent or its affiliates arising from or in connection with
(a) treasury, depositary, cash management services or (b) automated clearinghouse transfer of funds. 
 “Patent
License” shall mean any written agreement, now or hereafter in effect, granting to any third party any right to make, use or sell any invention on which a patent, now or hereafter owned by any Grantor (including all Patents) or that any
Grantor otherwise has the right to license, is in existence, 
  

 -4- 

 or granting to any Grantor any right to make, use or sell any invention on which a patent, now or hereafter owned by any
third party, is in existence, and all rights of any Grantor under any such agreement. 
 “patents” shall mean, with respect
to any Person, all of the following now owned or hereafter acquired by such Person: (a) all letters patent of the United States or the equivalent thereof in any other country, all registrations and recordings thereof, and all applications for
letters patent of the United States or the equivalent thereof in any other country, including registrations, recordings and pending applications in the United States Patent and Trademark Office or any similar offices in any other country, and
(b) all reissues, continuations, divisions, continuations-in-part, renewals or extensions thereof, and the inventions disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed or claimed therein.

 “Patents” shall mean all patents now owned or hereafter acquired by any Grantor, including those listed on Schedule
2. 
 “Proceeds” shall mean all “proceeds” as such term is defined in Article 9 of the UCC and, in any event,
shall include with respect to any Grantor, any consideration received from the sale, exchange, license, lease or other disposition of any asset or property that constitutes Collateral, any value received as a consequence of the possession of any
Collateral and any payment received from any insurer or other person or entity as a result of the destruction, loss, theft, damage or other involuntary conversion of whatever nature of any asset or property that constitutes Collateral, and shall
include (a) all cash and negotiable instruments received by or held on behalf of the Collateral Agent, (b) any claim of any Grantor against any third party for (and the right to sue and recover for and the rights to damages or profits due
or accrued arising out of or in connection with) (i) past, present or future infringement of any Patent now or hereafter owned by any Grantor, or licensed under a Patent License, (ii) past, present or future infringement or dilution of any
Trademark now or hereafter owned by any Grantor or licensed under a Trademark License or injury to the goodwill associated with or symbolized by any Trademark now or hereafter owned by any Grantor, (iii) past, present or future breach of any
License and (iv) past, present or future infringement of any Copyright now or hereafter owned by any Grantor or licensed under a Copyright License and (c) any and all other amounts from time to time paid or payable under or in connection
with any of the Collateral. 
 “Secured Parties” shall mean, collectively, (i) the Lenders, (ii) the
Administrative Agent, (iii) the Collateral Agent, (iv) the Letter of Credit Issuer, (v) the Swingline Lender, (vi) the Syndication Agent, (vii) the Documentation Agent, (viii) each counterparty to a Hedge Agreement the
obligations under which constitute Obligations, (ix) the beneficiaries of each indemnification obligation undertaken by any Credit Party under the Credit Agreement or any document executed pursuant thereto and (x) any successors,
indorsees, transferees and assigns of each of the foregoing. 
 “Security Agreement” shall mean this Security Agreement, as
the same may be amended, supplemented or otherwise modified from time to time. 
 “Security Interest” shall have the meaning
provided in Section 2. 
 “Trademark License” shall mean any written agreement, now or hereafter in effect, granting to
any third party any right to use any trademark now or hereafter owned by any Grantor (including any Trademark) or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any trademark now or hereafter owned
by any third party, and all rights of any Grantor under any such agreement. 
  

 -5- 

 “trademarks” shall mean, with respect to any Person, all of the following now owned or
hereafter acquired by such Person: (i) all trademarks, service marks, trade names, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source or business identifiers, designs and
general intangibles of like nature, now existing or hereafter adopted or acquired, all registrations and recordings thereof (if any), and all registration and recording applications filed in connection therewith, including registrations and
registration applications in the United States Patent and Trademark Office or any similar offices in any State of the United States or any other country or any political subdivision thereof, and all extensions or renewals thereof, (ii) all
goodwill associated therewith or symbolized thereby and (iii) all other assets, rights and interests that uniquely reflect or embody such goodwill. 
 “Trademarks” shall mean all trademarks now owned or hereafter acquired by any Grantor, including those listed on Schedule 3 hereto; provided that any “intent to use”
Trademark applications for which a statement of use has not been filed (but only until such statement is filed) are excluded from this definition. 
 “UCC” shall mean 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 law, any of the
attachment, perfection or priority of the Collateral Agent’s and the Secured Parties’ security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term
“UCC” shall mean the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such attachment, perfection or priority and for purposes of definitions related to such
provisions. 
 1.4 The words “hereof”, “herein”, “hereto” and “hereunder” and words of similar import
when used in this Security Agreement shall refer to this Security Agreement as a whole and not to any particular provision of this Security Agreement, and Section, subsection, clause and Schedule references are to this Security Agreement unless
otherwise specified. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase “without limitation”. 
 1.5 The meanings given to terms defined herein shall be equally applicable to both the singular and plural forms of such terms. 
 1.6 Where the context requires, terms relating to the Collateral or any part thereof, when used in relation to a Grantor, shall refer to such
Grantor’s Collateral or the relevant part thereof. 
 1.7 References to “Lenders” in this Security Agreement shall be deemed
to include Affiliates of any Lender that may from time to time enter into Hedge Agreements. 
 2. Grant of Security Interest.

 2.1 Each Grantor hereby bargains, sells, conveys, assigns, sets over, mortgages, pledges, hypothecates and transfers to the Collateral
Agent, for the ratable benefit of the Secured Parties, and grants to the Collateral Agent, for the ratable benefit of the Secured Parties a lien on and security interest in (the “Security Interest”), all of its right, title and
interest in, to and under all of the following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest (collectively, the
“Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Obligations: 
 (a) all Accounts; 
  

 -6- 

 (b) all cash; 
 (c) all Chattel Paper; 
 (d) all Documents; 
 (e) all equipment; 
 (f) all General Intangibles; 
 (g) all Instruments; 
 (h) all Intellectual Property; 
 (i) all Inventory; 
 (j) all Investment Property; 
 (k) all Letters of Credit and Letter-of-Credit Rights; 
 (l) all Supporting Obligations; 
 (m) all Collateral Accounts; 
 (n) all books and records pertaining to the Collateral;

 (o) the extent not otherwise included, all Proceeds and products of any and all of the foregoing. 
 2.2 Each Grantor hereby irrevocably authorizes the Collateral Agent and its Affiliates, counsel and other representatives, at any time and from time to
time, to file or record financing statements, amendments to financing statements, and other filing or recording documents or instruments with respect to the 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 Security Agreement, and such financing statements and amendments may describe the Collateral covered thereby as “all assets”, “all personal
property” or words of similar effect. Each Grantor hereby also authorizes the Collateral Agent and its Affiliates, counsel and other representatives, at any time and from time to time, to file continuation statements with respect to previously
filed financing statements. A photographic or other reproduction of this Security Agreement shall be sufficient as a financing statement or other filing or recording document or instrument for filing or recording in any jurisdiction to the
Collateral Agent. 
 Each Grantor hereby agrees to provide to the Collateral Agent, promptly upon request, any information necessary to
effectuate the filings or recordings authorized by this Section 2.2. Each Grantor also ratifies its authorization for the Collateral Agent to file in any relevant jurisdiction any initial financing statements or amendments thereto if filed
prior to the date hereof. 
 The Collateral Agent is further authorized to file with the United States Patent and Trademark Office or United
States Copyright Office (or any successor office or any similar office in any other country) such documents as may be necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the Security Interest granted
by each Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Collateral Agent, as the case may be, as secured party. 
  

 -7- 

 The Security Interests are granted as security only and shall not subject the Collateral Agent or any
other Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 
 3. Representations and Warranties. 
 Each Grantor hereby represents and warrants to the Collateral Agent and each Secured
Party that: 
 3.1 Title; No Other Liens. Except for (a) the Security Interest granted to the Collateral Agent for the ratable
benefit of the Secured Parties pursuant to this Security Agreement, (b) the Liens permitted by the Credit Agreement and (c) any Liens securing Indebtedness which is no longer outstanding or any Liens with respect to commitments to lend
which have been terminated, such Grantor owns each item of the Collateral free and clear of any and all Liens or claims of others. No security agreement, financing statement or other public notice with respect to all or any part of the Collateral
that evidences a Lien securing any material Indebtedness is on file or of record in any public office, except such as have been filed in favor of the Collateral Agent for the ratable benefit of the Secured Parties pursuant to this Security Agreement
or are permitted by the Credit Agreement. 
 3.2 Perfected First Priority Liens. 
 (a) This Security Agreement is effective to create in favor of the Collateral Agent, for its benefit and for the benefit of the Secured Parties, legal,
valid and enforceable Security Interests in the Collateral, subject to the effects of bankruptcy, insolvency or similar laws affecting creditors’ rights generally and general equitable principles. 
 (b) Subject to the limitations set forth in clause (c) of this Section 3.2, the Security Interests granted pursuant to this Security Agreement
(i) will constitute valid and perfected Security Interests in the Collateral (as to which perfection may be obtained by the filings or other actions described in clause (A), (B) or (C) of this paragraph) in favor of the Collateral
Agent, for the ratable benefit of the Secured Parties, as collateral security for the Obligations, upon (A) the completion of the filing in the applicable filing offices of all financing statements, in each case, naming each Grantor as
“debtor” and the Collateral Agent as “secured party” and describing the Collateral, (B) delivery of all Instruments, Chattel Paper, Certificated Securities and negotiable Documents in each case, properly endorsed for
transfer to the Collateral Agent or in blank and (C) completion of the filing, registration and recording of (x) a fully executed agreement in the form of Annex A hereto, with respect to Patents, and the form of Annex B
hereto, with respect to Trademarks, containing a description of all Collateral constituting such Intellectual Property with the United States Patent and Trademark Office (or any successor office) within the three month period (commencing as of the
date hereof) or, in the case of Collateral constituting such Intellectual Property acquired after the date hereof, thereafter pursuant to 35 USC § 261 and 15 USC § 1060 and the regulations thereunder with respect to United States
Patents and United States registered Trademarks and (y) a fully executed agreement in the form of Annex C hereto, with respect to Copyrights, containing a description of all Collateral constituting such Intellectual Property with the
United States Copyright Office (or any successor office) within the one month period (commencing as of the applicable date of acquisition or filing) or, in the case of Collateral constituting such Intellectual Property acquired after the date
hereof, thereafter with respect to United States registered Copyrights pursuant to 17 USC § 205 and the regulations thereunder as soon as reasonably practicable, and otherwise as may be required pursuant to the laws of any other necessary
jurisdiction to the extent that a security interest may be perfected by such filings, registrations and recordings, and (ii) are prior to all other Liens on the Collateral other than Liens permitted pursuant to Section 10.2 of the Credit
Agreement. 
  

 -8- 

 (c) Notwithstanding anything to the contrary herein, no Grantor shall be required to perfect the Security
Interests granted by this Security Agreement (including Security Interests in cash, cash accounts and Investment Property) by any means other than by (i) filings pursuant to the Uniform Commercial Code of the relevant State(s),
(ii) filings with the registrars of motor vehicles or other appropriate authorities in the relevant jurisdictions, (iii) filings approved by United States government offices with respect to Intellectual Property or (iv) delivery to
the Collateral Agent to be held in its possession of all Collateral consisting of Tangible Chattel Paper, Instruments, Certificated Securities or Negotiable Documents. 
 (d) It is understood and agreed that the Security Interests in cash and Investment Property created hereunder shall not prevent the Grantors from using such assets in the ordinary course of their respective
businesses. 
 4. Covenants. 
 Each Grantor hereby covenants and agrees with the Collateral Agent and the Secured Parties that, from and after the date of this Security Agreement until the Obligations under the Credit Documents are paid in full, the Commitments are
terminated and no Letter of Credit remains outstanding: 
 4.1 Maintenance of Perfected Security Interest; Further Documentation.

 (a) Such Grantor shall maintain the Security Interest created by this Security Agreement as a perfected Security Interest having at least
the priority described in Section 3.1 and shall defend such Security Interest against the claims and demands of all Persons whomsoever, in each case subject to Section 3.2(c). 
 (b) Such Grantor will furnish to the Collateral Agent and the Lenders from time to time statements and schedules further identifying and describing the
assets and property of such Grantor and such other reports in connection therewith as the Collateral Agent may reasonably request. In addition, within 30 days after the end of each calendar quarter, such Grantor will deliver to the Collateral
Agent a written supplement substantially in the form of Annex D hereto with respect to any additional Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks and Trademark Licenses acquired by such Grantor after the date
hereof, all in reasonable detail. 
 (c) Subject to clause (d) below and Section 3.2(c), each Grantor agrees that at any time and
from time to time, at the expense of such Grantor, it will execute any and all further documents, financing statements, agreements and instruments, and take all such further actions (including the filing and recording of financing statements and
other documents, including all applicable documents required under Section 3.2(b)(C)), which may be required under any applicable law, or which the Collateral Agent or the Required Lenders may reasonably request, in order (x) to grant,
preserve, protect and perfect the validity and priority of the Security Interests created or intended to be created hereby or (y) to enable the Collateral Agent to exercise and enforce its rights and remedies hereunder with respect to any
Collateral, including the filing of any financing or continuation statements under the UCC in effect in any jurisdiction with respect to the Security Interests created hereby and all applicable documents required under Section 3.2(b)(C), all at
the expense of such Grantor. 
 (d) Notwithstanding anything in this Section 4.1 to the contrary, (i) with respect to any assets
acquired by such Grantor after the date hereof that are required by the Credit Agreement to be subject to the Lien created hereby or (ii) with respect to any Person that, subsequent to the date hereof, becomes a Subsidiary that is required by
the Credit Agreement to become a party hereto, the relevant Grantor after the acquisition or creation thereof shall promptly take all actions required by the Credit Agreement or this Section 4.1. 
  

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 4.2 Changes in Locations, Name, etc. Each Grantor will furnish to the Collateral Agent prompt
written notice of any change (i) in its legal name, (ii) in its jurisdiction of organization or incorporation for purposes of the UCC, (iii) in any office in which it maintains books or records relating to Collateral owned by it
(including the establishment of any such new office), (iv) in its identity or type of organization or corporate structure or (v) in its Federal Taxpayer Identification Number or organizational identification number. Each Grantor
agrees promptly to provide the Collateral Agent with certified organizational documents reflecting any of the changes described in the first sentence of this paragraph. Each Grantor agrees not to effect or permit any change referred to in the
preceding sentence unless all filings have been made and all actions have been taken under the UCC or that are otherwise required in order for the Collateral Agent to continue at all times following such change to have a valid, legal and perfected
security interest in all the Collateral having at least the priority described in Section 3.2. Each Grantor also agrees promptly to notify the Collateral Agent if any material portion of the Collateral is damaged or destroyed. 
 4.3 Notices. Each Grantor will advise the Collateral Agent and the Lenders promptly, in reasonable detail, of any Lien of which it has knowledge
(other than the Security Interests created hereby or Liens permitted under the Credit Agreement) on any of the Collateral which would adversely affect, in any material respect, the ability of the Collateral Agent to exercise any of its remedies
hereunder. 
 4.4 Special Covenants with Respect to Equipment. 
 (a) Upon the occurrence and during the continuation of any Event of Default, all insurance payments in respect of equipment shall be paid to and applied
by the Collateral Agent as specified in Section 5.4 hereof. 
 (b) At the Collateral Agent’s request at any time after the
occurrence and during the continuance of an Event of Default, each Grantor shall deliver to the Collateral Agent the certificates of title covering each item of equipment the perfection of which is governed by the notation on the certificate of
title of the Collateral Agent’s Security Interest created hereunder. 
 5. Remedial Provisions. 
 5.1 Certain Matters Relating to Accounts. 
 (a) At any time after the occurrence and during the continuance of an Event of Default and after giving reasonable notice to the Borrower and any other relevant Grantor, the Administrative Agent shall have the right, but not the obligation,
to instruct the Collateral Agent to (and upon such instruction, the Collateral Agent shall) make test verifications of the Accounts in any manner and through any medium that the Collateral Agent reasonably considers advisable, and each Grantor shall
furnish all such assistance and information as the Collateral Agent may require in connection with such test verifications. The Collateral Agent shall have the absolute right to share any information it gains from such inspection or verification
with any Secured Party. 
 (b) The Collateral Agent hereby authorizes each Grantor to collect such Grantor’s Accounts and the Collateral
Agent may curtail or terminate said authority at any time after the occurrence and during the continuance of an Event of Default. If required in writing by the Collateral Agent at any time after the occurrence and during the continuance of an Event
of Default, any payments of Accounts, 
  

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 when collected by any Grantor, (i) shall be forthwith (and, in any event, within two Business Days) deposited by
such Grantor in the exact form received, duly endorsed by such Grantor to the Collateral Agent if required, in a Collateral Account maintained under the sole dominion and control of and on terms and conditions reasonably satisfactory to the
Collateral Agent, subject to withdrawal by the Collateral Agent for the account of the Secured Parties only as provided in Section 5.5, and (ii) until so turned over, shall be held by such Grantor in trust for the Collateral Agent and the
Secured Parties, segregated from other funds of such Grantor. Each such deposit of Proceeds of Accounts shall be accompanied by a report identifying in reasonable detail the nature and source of the payments included in the deposit. 
 (c) At the Collateral Agent’s request at any time after the occurrence and during the continuance of an Event of Default, each Grantor shall deliver
to the Collateral Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Accounts, including all original orders, invoices and shipping receipts. 
 (d) Upon the occurrence and during the continuance of an Event of Default, a Grantor shall not grant any extension of the time of payment of any of the
Accounts, compromise, compound or settle the same for less than the full amount thereof, release, wholly or partly, any person liable for the payment thereof, or allow any credit or discount whatsoever thereon if the Collateral Agent shall have
instructed the Grantors not to grant or make any such extension, credit, discount, compromise or settlement under any circumstances during the continuance of such Event of Default. 
 (e) At the direction of the Collateral Agent, upon the occurrence and during the continuance of an Event of Default, each Grantor shall assign to the
Collateral Agent to the extent assignable, or grant to the Collateral Agent, as applicable, an irrevocable, non-exclusive, fully paid-up, royalty-free, worldwide license to use, assign, license or sublicense any of the Intellectual Property now
owned or hereafter acquired by such Grantor. Such license shall include access to all media in which any of the licensed items may be recorded or stored and to all computer programs used for the compilation or printout thereof. 
 5.2 Communications with Credit Parties; Grantors Remain Liable. 
 (a) The Collateral Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an Event of Default, after giving reasonable notice to the relevant Grantor of its
intent to do so, communicate with obligors under the Accounts to verify with them to the Collateral Agent’s satisfaction the existence, amount and terms of any Accounts. The Collateral Agent shall have the absolute right to share any
information it gains from such inspection or verification with any Secured Party. 
 (b) Upon the written request of the Collateral Agent at
any time after the occurrence and during the continuance of an Event of Default, each Grantor shall notify obligors on the Accounts that the Accounts have been assigned to the Collateral Agent for the ratable benefit of the Secured Parties and that
payments in respect thereof shall be made directly to the Collateral Agent. 
 (c) Anything herein to the contrary notwithstanding, each
Grantor shall remain liable under each of the Accounts 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. Neither the
Collateral Agent nor any Secured Party shall have any obligation or liability under any Account (or any agreement giving rise thereto) by reason of or arising out of this Security Agreement or the receipt by the Collateral Agent or any Secured Party
of any payment relating thereto, nor shall the Collateral Agent or any Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Account (or any agreement giving rise thereto), to make any
payment, to make 
  

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 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 which may have been assigned to it or to which it may be entitled at any time or times. 
 5.3 Proceeds to be Turned Over to Collateral Agent. In addition to the rights of the Collateral Agent and the Secured Parties specified in
Section 5.1 with respect to payments of Accounts, if an Event of Default shall occur and be continuing and the Collateral Agent so requires by notice in writing to the relevant Grantor (it being understood that the exercise of remedies by the
Secured Parties in connection with an Event of Default under Section 11.5 of the Credit Agreement shall be deemed to constitute a request by the Collateral Agent for the purposes of this sentence and in such circumstances, no such written
notice shall be required), all Proceeds received by any Grantor consisting of cash, checks and other near-cash items shall be held by such Grantor in trust for the Collateral Agent and the Secured Parties, segregated from other funds of such
Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Collateral Agent in the exact form received by such Grantor (duly endorsed by such Grantor to the Collateral Agent, if required). All Proceeds received by the
Collateral Agent hereunder shall be held by the Collateral Agent in a Collateral Account maintained under its dominion and control and on terms and conditions reasonably satisfactory to the Collateral Agent. All Proceeds while held by the Collateral
Agent in a Collateral Account (or by such Grantor in trust for the Collateral Agent and the Secured Parties) shall continue to be held as collateral security for all the Obligations and shall not constitute payment thereof until applied as provided
in Section 5.4. 
 5.4 Application of Proceeds. The Collateral Agent shall apply the proceeds of any collection or sale of the
Collateral as well as any Collateral consisting of cash, at any time after receipt as follows: 
 (i) first, to the payment of
all reasonable and documented costs and expenses incurred by the Collateral Agent in connection with such collection or sale or otherwise in connection with this Security Agreement, the other Credit Documents or any of the Obligations, including all
court costs and the reasonable fees and expenses of its agents and legal counsel, the repayment of all advances made by the Collateral Agent hereunder or under any other Credit Document on behalf of any Grantor and any other reasonable and
documented costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Credit Document; 
 (ii) second, to the Secured Parties, an amount equal to all Obligations owing to them on the date of any distribution, and, if such moneys shall be insufficient to pay such amounts in full, then ratably (without
priority of any one over any other) to such Secured Parties in proportion to the unpaid amounts thereof; and 
 (iii) third,
any surplus then remaining shall be paid to the Grantors or their successors or assigns or to whomsoever may be lawfully entitled to receive the same or as a court of competent jurisdiction may direct. 
 Upon any sale of the Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the
Collateral Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase
money paid over to the Collateral Agent or such officer or be answerable in any way for the misapplication thereof. 
  

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 5.5 Code and Other Remedies. If an Event of Default shall occur and be continuing, the Collateral
Agent may exercise in respect of the Collateral, in addition to all other rights and remedies provided for herein or otherwise available to it, all the rights and remedies of a secured party upon default under the UCC or any other applicable law and
also may without notice except as specified below, sell the Collateral or any part thereof in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Collateral Agent or any Lender or elsewhere
for cash or on credit or for future delivery at such price or prices and upon such other terms as are commercially reasonable irrespective of the impact of any such sales on the market price of the Collateral. The Collateral Agent shall be
authorized at any such sale (if it deems it advisable to do so) to restrict the prospective bidders or purchasers of Collateral to Persons who will represent and agree that they are purchasing the Collateral for their own account for investment and
not with a view to the distribution or sale thereof, and, upon consummation of any such sale, the Collateral Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each purchaser at
any such sale shall hold the property sold absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by law) all rights of redemption, stay and/or appraisal that it now has or may at
any time in the future have under any rule of law or statute now existing or hereafter enacted. The Collateral Agent and any Secured Party shall have the right upon any such public sale, and, to the extent permitted by law, upon any such private
sale, to purchase the whole or any part of the Collateral so sold, and the Collateral Agent or such Secured Party may pay the purchase price by crediting the amount thereof against the Obligations. Each Grantor agrees that, to the extent notice of
sale shall be required by law, at least ten days’ notice to such Grantor of the time and place of any public sale or the time after which any private sale is to be made shall constitute reasonable notification. The Collateral Agent shall not be
obligated to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without
further notice, be made at the time and place to which it was so adjourned. To the extent permitted by law, each Grantor hereby waives any claim against the Collateral Agent arising by reason of the fact that the price at which any Collateral may
have been sold at such a private sale was less than the price that might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more than one offeree. Each Grantor
further agrees, at the Collateral Agent’s request to assemble the Collateral and make it available to the Collateral Agent, at places which the Collateral Agent shall reasonably select, whether at such Grantor’s premises or elsewhere. The
Collateral Agent shall apply the net proceeds of any action taken by it pursuant to this subsection 5.5 in accordance with the provisions of subsection 5.4. 
 5.6 Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral are insufficient to pay its Obligations and the fees and disbursements of
any attorneys employed by the Collateral Agent or any Secured Party to collect such deficiency. 
 5.7 Amendments, etc. with Respect to
the Obligations; Waiver of Rights. Each Grantor shall remain obligated hereunder notwithstanding that, without any reservation of rights against any Grantor and without notice to or further assent by any Grantor, (a) any demand for payment
of any of the Obligations made by the Collateral Agent or any other Secured Party may be rescinded by such party and any of the Obligations continued, (b) the Obligations, or the liability of any other party upon or for any part thereof, or any
collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Collateral
Agent or any other Secured Party, (c) the Credit Agreement, the other Credit Documents, the Letters of Credit and any other documents executed and delivered in connection therewith and the Hedge Agreements and any other documents executed and
delivered in connection therewith and any documents entered into with the Administrative Agent or the Collateral Agent or any of their respective affiliates in connection with treasury, depositary or cash 
  

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 management services or in connection with any automated clearinghouse transfer of funds may be amended, modified,
supplemented or terminated, in whole or in part, as the applicable Administrative Agent (or the Required Lenders, as the case may be, or, in the case of any Hedge Agreement or documents entered into with the Administrative Agent or any of its
affiliates in connection with treasury, depositary or cash management services or in connection with any automated clearinghouse transfer of funds, the party thereto) may deem advisable from time to time, and (d) any collateral security,
guarantee or right of offset at any time held by the Collateral Agent or any other Secured Party for the payment of the Obligations may be sold, exchanged, waived, surrendered or released. Neither the Collateral Agent nor any other Secured Party
shall have any obligation to protect, secure, perfect or insure any Lien at any time held by it as security for the Obligations or for this Security Agreement or any property subject thereto. When making any demand hereunder against any Grantor, the
Collateral Agent or any other Secured Party may, but shall be under no obligation to, make a similar demand on the Borrower or any Grantor or any other person, and any failure by the Collateral Agent or any other Secured Party to make any such
demand or to collect any payments from the Borrower or any Grantor or any other person or any release of the Borrower or any Grantor or any other person shall not relieve any Grantor in respect of which a demand or collection is not made or any
Grantor not so released of its several obligations or liabilities hereunder, and shall not impair or affect the rights and remedies, express or implied, or as a matter of law, of the Collateral Agent or any other Secured Party against any Grantor.
For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 
 6. The Collateral
Agent. 
 6.1 Collateral Agent’s Appointment as Attorneys-in-Fact, etc. 
 (a) Each Grantor hereby appoints, which appointment is irrevocable and coupled with an interest, effective upon and during the occurrence of an Event of
Default, the Collateral Agent and any officer or agent 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 otherwise, for the purpose of carrying out the terms of this Security Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this
Security Agreement, and, without limiting the generality of the foregoing, each Grantor hereby gives the Collateral Agent the power and right, on behalf of such Grantor, either in the Collateral Agent’s name or in the name of such Grantor or
otherwise, without assent by such Grantor, to do any or all of the following, in each case after and during the occurrence of an Event of Default and after written notice by the Collateral Agent of its intent to do so: 
 (i) take possession of and endorse and collect any checks, drafts, notes, acceptances or other instruments for the payment of moneys due
under any Account 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 and all such
moneys due under any Account or with respect to any other Collateral whenever payable; 
 (ii) in the case of any Intellectual
Property, execute and deliver, and have recorded, any and all agreements, instruments, documents and papers as the Collateral Agent may request to evidence the Collateral Agent’s and the Secured Parties’ 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 the Collateral; 
  

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 (iv) execute, in connection with any sale provided for in Section 5.5, any
endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; 
 (v) obtain and
adjust insurance required to be maintained by such Grantor or paid to the Collateral Agent pursuant to Section 4.5; 
 (vi) direct any party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder directly to the Collateral Agent or as the Collateral Agent shall direct; 
 (vii) ask or demand for, collect and receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due
at any time in respect of or arising out of any Collateral; 
 (viii) sign and endorse any invoices, freight or express bills,
bills of lading, storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; 
 (ix) commence and prosecute any suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect the
Collateral or any portion thereof and to enforce any other right in respect of any Collateral; 
 (x) defend any suit, action
or proceeding brought against such Grantor with respect to any Collateral (with such Grantor’s consent to the extent such action or its resolution could materially affect such Grantor or any of its affiliates in any manner other than with
respect to its continuing rights in such Collateral); 
 (xi) settle, compromise or adjust any such suit, action or proceeding
and, in connection therewith, give such discharges or releases as the Collateral Agent may deem appropriate (with such Grantor’s consent to the extent such action or its resolution could materially affect such Grantor or any of its affiliates
in any manner other than with respect to its continuing rights in such Collateral); 
 (xii) assign any Copyright, Patent or
Trademark (along with the goodwill of the business to which any such Copyright, Patent or Trademark pertains), throughout the world for such term or terms, on such conditions, and in such manner, as the Collateral Agent shall in its sole discretion
determine; and 
 (xiii) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any
of the 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 and such Grantor’s expense, at any time, or from time to time, all acts and
things that the Collateral Agent deems necessary to protect, preserve or realize upon the Collateral and the Collateral Agent’s and the Secured Parties’ Security Interests therein and to effect the intent of this Security Agreement, all as
fully and effectively as such Grantor might do. 
 Anything in this Section 6.1(a) to the contrary notwithstanding, the Collateral Agent agrees that it
will not exercise any rights under the power of attorney provided for in this Section 6.1(a) unless an Event of Default shall have occurred and be continuing. 
  

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 (b) If any Grantor fails to perform or comply with any of its agreements 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 agreement. 
 (c) The expenses of the Collateral Agent incurred in connection with actions undertaken as provided in this Section 6.1, together with interest thereon at a rate per annum equal to the highest rate per annum at
which interest would then be payable on any category of past due ABR Loans under 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
hereof. All powers, authorizations and agencies contained in this Security Agreement are coupled with an interest and are irrevocable until this Security Agreement is terminated and the Security Interests created hereby are released. 
 6.2 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, under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Collateral Agent deals with similar property for its own account. The Collateral Agent shall be deemed to have
exercised reasonable care in the custody and preservation of any Collateral in its possession if such Collateral is accorded treatment substantially equal to that which the Collateral Agent accords its own property. Neither the Collateral Agent, any
Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the 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 the Collateral or any part thereof. The powers conferred on the Collateral Agent and the Secured Parties
hereunder are solely to protect the Collateral Agent’s and the Secured Parties’ interests in the Collateral and shall not impose any duty upon the Collateral Agent or any Secured Party to exercise any such powers. The Collateral Agent and
the 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 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. 
 6.3 Authority of Collateral Agent.
Each Grantor acknowledges that the rights and responsibilities of the Collateral Agent under this Security 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 Security Agreement shall, as between the Collateral Agent and the Secured Parties, be governed by the Credit 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 acting as agent for the applicable 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. 
 6.4 Security Interest Absolute. All rights of the Collateral Agent hereunder, the security interest and all obligations of the Grantors hereunder shall be absolute and unconditional. 
 6.5 Continuing Security Interest; Assignments Under the Credit Agreement; Release. 
 (a) This Security Agreement shall remain in full force and effect and be binding in accordance with and to the extent of its terms upon each Grantor and
the successors and assigns thereof 
  

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 and shall inure to the benefit of the Collateral Agent and the other Secured Parties and their respective successors,
indorsees, transferees and assigns until all Obligations under the Credit Documents (other than any contingent indemnity obligations not then due) and the obligations of each Grantor under this Security Agreement shall have been satisfied by payment
in full, the Commitments shall be terminated and no Letters of Credit shall be outstanding, notwithstanding that from time to time during the term of the Credit Agreement and any Hedge Agreement the Credit Parties may be free from any Obligations.

 (b) A Subsidiary Grantor shall automatically be released from its obligations hereunder and the Security Interest in the Collateral of
such Subsidiary Grantor shall be automatically released upon the consummation of any transaction permitted under the Credit Agreement as a result of which such Subsidiary Grantor ceases to be a Subsidiary Guarantor. 
 (c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted under the Credit Agreement or upon the effectiveness of any
written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 13.1 of the Credit Agreement, the Security Interest in such Collateral shall be automatically released and such Collateral sold free
and clear of the Lien and Security Interests created hereby. 
 (d) In connection with any termination or release pursuant to paragraph (a),
(b) or (c), the Collateral Agent shall execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall reasonably request to evidence such termination or release. Any execution and delivery of documents
pursuant to this Section 6.5 shall be without recourse to or warranty by the Collateral Agent. 
 6.6 Reinstatement. Each Grantor
further agrees that, if any payment made by any Credit Party or other Person and applied to the 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 Collateral are required to be returned by any Secured Party to such Credit 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 or, if prior thereto the
Lien granted hereby or other Collateral securing such liability hereunder shall have been released or terminated by virtue of such cancellation or surrender), such Lien or other Collateral shall be reinstated in full force and effect, and such prior
cancellation or surrender shall not diminish, release, discharge, impair or otherwise affect any Lien or other Collateral securing the obligations of any Grantor in respect of the amount of such payment. 
 7. Collateral Agent as Agent. 
 (a)
Lehman Brother Commercial Paper Inc. has been appointed to act as the Collateral Agent under the Credit Agreement, by the Lenders under the Credit Agreement and, by their acceptance of the benefits hereof, the other Secured Parties. The Collateral
Agent shall be obligated, and shall have the right hereunder, to make demands, to give notices, to exercise or refrain from exercising any rights, and to take or refrain from taking any action (including the release or substitution of Collateral),
solely in accordance with this Security Agreement and the Credit Agreement, provided that the Collateral Agent shall exercise, or refrain from exercising, any remedies provided for in Section 5 in accordance with the instructions
of Required Lenders. In furtherance of the foregoing provisions of this Section 7(a), each Secured Party, by its acceptance of the benefits hereof, agrees that it shall have no right individually to realize upon any of the Collateral
hereunder, it being understood and agreed by such Secured Party that all rights and remedies hereunder may be exercised solely by the Collateral Agent for the ratable benefit of the Lenders and Secured Parties in accordance with the terms of this
Section 7(a). 
  

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 (b) The Collateral Agent shall at all times be the same Person that is the Collateral Agent under the
Credit Agreement. Written notice of resignation by the Collateral Agent pursuant to Section 12.9 of the Credit Agreement shall also constitute notice of resignation as Collateral Agent under this Security Agreement; removal of the Collateral
Agent shall also constitute removal under this Security Agreement; and appointment of a Collateral Agent pursuant to Section 12.9 of the Credit Agreement shall also constitute appointment of a successor Collateral Agent under this Security
Agreement. Upon the acceptance of any appointment as Collateral Agent under Section 12.9 of the Credit Agreement by a successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights,
powers, privileges and duties of the retiring or removed Collateral Agent under this Security Agreement, and the retiring or removed Collateral Agent under this Security Agreement shall promptly (i) transfer to such successor Collateral Agent
all sums, securities and other items of Collateral held hereunder, together with all records and other documents necessary or appropriate in connection with the performance of the duties of the successor Collateral Agent under this Security
Agreement, and (ii) execute and deliver to such successor Collateral Agent or otherwise authorize the filing of such amendments to financing statements and take such other actions, as may be necessary or appropriate in connection with the
assignment to such successor Collateral Agent of the Security Interests created hereunder, whereupon such retiring or removed Collateral Agent shall be discharged from its duties and obligations under this Security Agreement. After any retiring or
removed Collateral Agent’s resignation or removal hereunder as Collateral Agent, the provisions of this Security Agreement shall inure to its benefit as to any actions taken or omitted to be taken by it under this Security Agreement while it
was Collateral Agent hereunder. 
 (c) The Collateral Agent shall not be deemed to have any duty whatsoever with respect to any Secured Party
that is a counterparty to a Hedge Agreement the obligations under which constitute Obligations, unless it shall have received written notice in form and substance satisfactory to the Collateral Agent from a Grantor or any such Secured Party as to
the existence and terms of the applicable Hedge Agreement. 
 8. Miscellaneous. 
 8.1 Amendments in Writing. None of the terms or provisions of this Security Agreement may be waived, amended, supplemented or otherwise modified
except by a written instrument executed by the affected Grantor and the applicable Administrative Agent in accordance with Section 13.1 of the Credit Agreement. 
 8.2 Notices. All notices, requests and demands pursuant hereto shall be made in accordance with Section 13.2 of the Credit Agreement. All communications and notices hereunder to any Subsidiary Grantor
shall be given to it in care of the Borrower at the Borrower’s address set forth in Section 13.2 of the Credit Agreement. 
 8.3
No Waiver by Course of Conduct; Cumulative Remedies. Neither the Collateral Agent nor any Secured Party shall by any act (except by a written instrument pursuant to Section 8.1 hereof), 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 or in any breach of any of the terms and conditions hereof. No failure to exercise, nor any delay in exercising, on the part of the Collateral
Agent or any other 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 the Collateral Agent or any other 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 the Collateral Agent or
such other Secured Party would otherwise have on any future occasion. The rights, remedies, powers and privileges herein provided are cumulative, may be exercised singly or concurrently and are not exclusive of any other rights or remedies provided
by law. 
  

 -18- 

 8.4 Enforcement Expenses; Indemnification. 
 (a) Each Grantor agrees to pay any and all expenses (including all reasonable fees and disbursements of counsel) that may be paid or incurred by any
Secured Party in enforcing, or obtaining advice of counsel in respect of, any rights with respect to, or collecting, any or all of the Obligations and/or enforcing any rights with respect to, or collecting against, such Grantor under this Security
Agreement. 
 (b) Each Grantor agrees to pay, and to save the Collateral Agent and the Secured Parties harmless from, any and all liabilities
with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable with respect to any of the Collateral or in connection with any of the transactions contemplated
by this Security Agreement. 
 (c) Each Grantor agrees to pay, and to save the Collateral Agent and the Secured Parties harmless from, any
and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and administration of this
Security Agreement to the extent the Borrower would be required to do so pursuant to Section 12.7 of the Credit Agreement. 
 (d) The
agreements in this Section 8.4 shall survive repayment of the Obligations and all other amounts payable under the Credit Agreement and the other Credit Documents. 
 8.5 Successors and Assigns. The provisions of this Security Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except
that no Grantor may assign, transfer or delegate any of its rights or obligations under this Security Agreement without the prior written consent of the Collateral Agent except pursuant to a transaction permitted by the Credit Agreement. 

8.6 Counterparts. This Security Agreement may be executed by one or more of the parties to this Security Agreement on any number of separate
counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A set of the copies of this Security Agreement signed by all the parties
shall be lodged with the Collateral Agent and the Borrower. 
 8.7 Severability. Any provision of this Security Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions
the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 8.8 Section
Headings. The Section headings used in this Security Agreement are for convenience of reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
  

 -19- 

 8.9 Integration. This Security Agreement together with the other Credit Documents represents the
agreement of each of the Grantors with respect to the subject matter hereof and there are no promises, undertakings, representations or warranties by the Collateral Agent or any other Secured Party relative to the subject matter hereof not expressly
set forth or referred to herein or in the other Credit Documents. 
 8.10 GOVERNING LAW. THIS SECURITY AGREEMENT AND THE RIGHTS AND
OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 8.11 Submission to Jurisdiction Waivers. Each Grantor hereby irrevocably and unconditionally: 
 (a) submits
for itself and its property in any legal action or proceeding relating to this Security Agreement and the other Credit Documents to which it is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive
general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of New York and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have
to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 
 (c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified
mail (or any substantially similar form of mail), postage prepaid, to such Grantor at its address referred to in Section 8.2 or at such other address of which the Collateral Agent shall have been notified pursuant thereto; 
 (d) agrees that nothing herein shall affect the right of the Collateral Agent or any other Secured Party to effect service of process in
any other manner permitted by law or shall limit the right of the Collateral Agent or any Secured Party to sue in any other jurisdiction; and 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or recover in any legal action or proceeding referred to in this Section 8.11 any special, exemplary, punitive or
consequential damages. 
 8.12 Acknowledgments. Each Grantor hereby acknowledges that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery of this Security Agreement and the other Credit Documents to
which it is a party; 
 (b) neither the Collateral Agent nor any other Secured Party has any fiduciary relationship with or
duty (except as provided in Section 6.2 hereof) to any Grantor arising out of or in connection with this Security Agreement or any of the other Credit Documents, and the relationship between the Grantors, on the one hand, and the Collateral
Agent and the other Secured Parties, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 
  

 -20- 

 (c) no joint venture is created hereby or by the other Credit Documents or otherwise
exists by virtue of the transactions contemplated hereby among the Lenders and any other Secured Party or among the Grantors and the Lenders and any other Secured Party. 
 8.13 Additional Grantors. Each Subsidiary of the Borrower that is required to become a party to this Security Agreement pursuant to Section 9.11 of the Credit Agreement shall become a Grantor, with the
same force and effect as if originally named as a Grantor herein, for all purposes of this Security Agreement upon execution and delivery by such Subsidiary of a written supplement substantially in the form of Annex E hereto. The
execution and delivery of any instrument adding an additional Grantor as a party to this Security Agreement shall not require the consent of any other Grantor hereunder. The rights and obligations of each Grantor hereunder shall remain in full force
and effect notwithstanding the addition of any new Grantor as a party to this Security Agreement. 
 8.14 WAIVER OF JURY
TRIAL. EACH GRANTOR HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS SECURITY AGREEMENT, ANY OTHER CREDIT DOCUMENT AND FOR ANY COUNTERCLAIM THEREIN. 
 [SIGNATURE PAGES FOLLOW] 
  

 -21- 

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

			
	 SPYGLASS MERGER CORP., as Grantor

		
	 By:
	 	 /S/    ALAN AUSTIN
  

	 Name:
	 	 Alan Austin

	 Title:
	 	 Vice President

	
	The undersigned hereby acknowledges and agrees that, upon the effectiveness of the Merger (as defined in the Credit Agreement), it will succeed to all of the rights and obligations
of the Borrower set forth herein and that all references herein to the Borrower shall thereupon deemed to be references to the undersigned.
	
	 SERENA SOFTWARE, INC.

		
	 By:
	 	 /S/    ROBERT I. PENDER, JR.
  

	 Name:
	 	 Robert I. Pender, Jr.

	 Title:
	 	 Senior Vice President, Finance and Administration,
 Chief Financial Officer, Assistant Secretary

	
	 LEHMAN BROTHERS COMMERCIAL PAPER INC.
 as Collateral Agent

		
	 By:
	 	 /S/    LAURIE PERPER
  

	 Name:
	 	 Laurie Perper

	 Title:
	 	 Senior Vice President

 [Serena Software, Inc. — Security Agreement Signature Page] 

 SCHEDULE 1 TO THE  
       SECURITY AGREEMENT 
 COPYRIGHTS 
  

					
	 Grantor
	  	 Title
	  	 Registration Number

	 Serena Software, Inc.
	  	“PCMS”	  	TXu-791-437
	 Serena Software, Inc.
	  	“StarTool 6.2.0”	  	TX-5-200-235
	 Serena Software, Inc.
	  	“StarTool 6.1.0”	  	TX-5-200-236
	 Serena Software, Inc.
	  	“Sysprog 1.1.0”	  	TX-5-200-237
	 Serena Software, Inc.
	  	“StarTool 5.4.0”	  	TX-5-200-238
	 Serena Software, Inc.
	  	“Merant Collage v3.0”	  	TX-5-598-280
	 Serena Software, Inc.
	  	“Merant Collage v4.0”	  	TX-5-806-952
	 Serena Software, Inc.
	  	“Merant Dimensions v8.0”	  	TX-5-839-533
	 Serena Software, Inc.
	  	“Merant Mover v1.0”	  	TX-5-853-655
	 Serena Software, Inc.
	  	“Merant Version manager v8.0”	  	TX-5-919-826
	 Serena Software, Inc.
	  	“Merant Tracker v8.0”	  	TX-5-919-827
	 Serena Software, Inc.
	  	“Merant Meritage v8.0”	  	TX-5-919-828
	 Serena Software, Inc.
	  	“Merant Professional v8.0”	  	TX-5-919-829
	 Serena Software, Inc.
	  	“RTMi v2.1”	  	TX-6-210-251

 SCHEDULE 2 TO THE  
       SECURITY AGREEMENT 
 PATENTS 
  

					
	 Grantor
	  	Registration
Number	  	 Description

	 Serena Software, Inc.
	  	5,745,908	  	Method for Converting a Word Processing File Containing Markup Language Tags and Conventional Computer Code
	 Serena Software, Inc.
	  	6,327,587	  	Caching Optimization with Disk And/Or Memory Cache Management
	 Serena Software, Inc.
	  	6,601,058	  	Data Exploration System and Method
	 Serena Software, Inc.
	  	6,253,236	  	System and Method for Serving Host Computer Files to One or More Client Computer Systems
	 Serena Software, Inc.
	  	6,263,348	  	Method and Apparatus for Identifying the Existence of Differences Between Two Files
	 Serena Software, Inc.
	  	6,393,438	  	Method and Apparatus for Identifying the Existence of Differences Between Two Files
	 Serena Software, Inc.
	  	6,480,834	  	Method and Apparatus for Serving Files From a Mainframe To One Or More Clients
	 Serena Software, Inc.
	  	6,513,048	  	Method and Apparatus for Access to Files Stored on a Mainframe Using a Personal Computer User Interface
	 Serena Software, Inc.
	  	6,691,125	  	Method and Apparatus for Converting Files Stored on a Mainframe Computer for Use By a Client Computer
	 Serena Software, Inc.
	  	6,912,539	  	Method and Apparatus for Verifying Converted Database Commands

 Applications: 
  

					
	 Grantor
	  	Application
Number	  	 Description

	 Serena Software, Inc.
	  	09/441,765	  	System and Method for Logging Into a Mainframe Computer System
	 Serena Software, Inc.
	  	10/956,634	  	Method and Apparatus for Combining Information From Various Sources
	 Serena Software, Inc.
	  	11/168,245	  	System and Method for Verifying Converted Database Commands
	 Serena Software, Inc.
	  	11/327,766	  	Approach for Performing Impact Analysis in Software Development Environments
	 Serena Software, Inc.
	  	60/717,665	  	Preferred Projects & Persistent “My Favorites” in a Process Management Application
	 Serena Software, Inc.
	  	60/717,944	  	Interactive Business Services Engine
	 Serena Software, Inc.
	  	60/726,839	  	Automatic Creation of an Interactive Composite Application and Graphically Rendering Boolean Expressions

 SCHEDULE 3 TO THE  
       SECURITY AGREEMENT 
 TRADEMARKS 
 Domestic Trademarks 
  

							
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.
	 Serena Software
	  	CENTILLION	  	2,425,369	  	76/014,331
	 Serena Software
	  	CHANGE GOVERNANCE	  		  	78/714,196
	 Serena Software
	  	CHANGE GOVERNANCE	  		  	78/714,194
	 Serena Software
	  	CHANGE GOVERNANCE	  		  	78/714,193
	 Serena Software
	  	CHANGE TRANSFER	  	2,472,804	  	75/742,044
	 Serena Software
	  	CHANGEMAN	  	1,342,251	  	73/482,133
	 Serena Software
	  	COLLAGE	  	2,816,351	  	76/454,822
	 Serena Software
	  	COMPAREX	  	1,298,600	  	73/444,966
	 Serena Software
	  	DETECT+RESOLVE	  	2,430,845	  	75/714,384
	 Serena Software
	  	DIMENSIONS	  		  	76/020,671
	 Serena Software
	  	ECHANGEMAN (stylized)	  	2,475,159	  	75/839,527
	 Serena Software
	  	EYE-SPY 390	  	2,403,597	  	75/703,931
	 Serena Software
	  	MERANT	  	2,476,207	  	75/577,064
	 Serena Software
	  	MERANT	  	2,478,372	  	75/577,065
	 Serena Software
	  	MERANT COLLAGE	  	2,747,007	  	76/462,076
	 Serena Software
	  	PROFIT FROM CHANGE	  		  	78/714,185
	 Serena Software
	  	PROFIT FROM CHANGE	  		  	78/714,183
	 Serena Software
	  	PROFIT FROM CHANGE	  		  	78/714,180
	 Serena Software
	  	PVCS	  	1,759,656	  	74/294,998
	 Serena Software
	  	RTM	  		  	78/525,152
	 Serena Software
	  	SAFE	  		  	78/306,306
	 Serena Software
	  	SERENA	  	2,739,477	  	76/098,268
	 Serena Software
	  	SERNET	  	2,435,312	  	76/016953
	 Serena Software
	  	STARTOOL	  	2,159,588	  	75/153,301
	 Serena Software
	  	STARWARP	  	2,304,166	  	75/589,090
	 Serena Software
	  	TEAMSHARE	  	2,326,643	  	75/695,719
	 Serena Software
	  	TEAMSHARE	  	2,326,601	  	75/688,973
	 Serena Software
	  	TEAMSHARE	  	2,349,269	  	75/405,763
	 Serena Software
	  	TEAMTRACK	  	2,559,818	  	75/905,693
	 Serena Software
	  	TEAMTRACK	  	2,208,294	  	75/295,149
	 Serena Software
	  	TEAMTRACK MOBILE	  	2,501,056	  	76/031,280
	 Serena Software
	  	TEAMTRACK ONLINE	  	2,458,348	  	75/748,670
	 Serena Software
	  	TSUPPORT	  	2,499,060	  	75/905,696
	 Serena Software
	  	tTRACK	  	2,500,979	  	75/905,694

 Foreign Trademarks 
  

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Madrid Protocol
	 Serena Software
	  	CHANGEMAN	  		  	2548309	  	Argentina
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Australia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Austria
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Benelux
	 Serena Software
	  	CHANGEMAN	  		  	826933980	  	Brazil
	 Serena Software
	  	CHANGEMAN	  	719273	  	661340	  	Chile
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	China
	 Serena Software
	  	CHANGEMAN	  	298921	  	04097791	  	Columbia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Croatia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Czech Republic
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Denmark
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Finland
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	France
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Germany
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Greece
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Hungary
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Iceland
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Ireland
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Italy
	 Serena Software
	  	CHANGEMAN	  		  	Z1230727	  	Japan
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Korea
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Latvia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Liechtenstein
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Lithuania
	 Serena Software
	  	CHANGEMAN	  	869924	  	679914	  	Mexico
	 Serena Software
	  	CHANGEMAN	  	869002	  	Z1230727	  	Norway
	 Serena Software
	  	CHANGEMAN	  	103992	  	221264	  	Peru
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Poland
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Portugal
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Romania
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Russia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Singapore
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Slovakia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Slovenia
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Spain
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Sweden
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Switzerland
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Turkey

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	UK
	 Serena Software
	  	CHANGEMAN	  	829002	  	Z1230727	  	Ukraine
	 Serena Software
	  	CHANGEMAN	  		  	2004-017005	  	Venezuela
	 Serena Software
	  	DIMENSIONS	  		  	826934013	  	Brazil
	 Serena Software
	  	DIMENSIONS	  	723990	  	661343	  	Chile
	 Serena Software
	  	DIMENSIONS	  	299612	  	0497785	  	Columbia
	 Serena Software
	  	DIMENSIONS	  		  	2004-017002	  	Venezuela
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Madrid Protocol
	 Serena Software
	  	PVCS	  		  	2548311	  	Argentina
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Australia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Austria
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Benelux
	 Serena Software
	  	PVCS	  		  	826934005	  	Brazil
	 Serena Software
	  	PVCS	  	719274	  	661342	  	Chile
	 Serena Software
	  	PVCS	  		  	A0000226	  	China
	 Serena Software
	  	PVCS	  	301275	  	04097787	  	Columbia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Croatia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Cyprus
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Czech Republic
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Denmark
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Finland
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	France
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Germany
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Greece
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Hungary
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Iceland
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Ireland
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Italy
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Japan
	 Serena Software
	  	PVCS	  		  	A0000226	  	Korea
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Latvia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Lesotho
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Liechtenstein
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Lithuania
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Monaco
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Morocco
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Norway
	 Serena Software
	  	PVCS	  		  	221261	  	Peru
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Poland
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Portugal
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Romania
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Russia

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	PVCS	  		  	A0000226	  	Singapore
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Slovakia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Slovenia
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Spain
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Sweden
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Switzerland
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Turkey
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	UK
	 Serena Software
	  	PVCS	  	844809	  	A0000226	  	Ukraine
	 Serena Software
	  	PVCS	  		  	2004-017003	  	Venezuela
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Madrid Protocol
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Austria
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Austrialia
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Benelux
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	China
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Czech Republic
	 Serena Software
	  	RTM	  		  	A0001603	  	Denmark
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Finland
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	France
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Germany
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Greece
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Hungary
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Iceland
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Ireland
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Italy
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Japan
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Korea
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Latvia
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Liechtenstein
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Lithuania
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Norway
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Poland
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Portugal
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Romania
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Russia
	 Serena Software
	  	RTM	  		  	A0001603	  	Singapore
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Slovakia
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Slovenia
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Spain
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Sweden
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Switzerland
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Turkey

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	UK
	 Serena Software
	  	RTM	  	855574	  	A0001603	  	Ukraine
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Madrid Protocol
	 Serena Software
	  	SERENA	  		  	2548308	  	Argentina
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Australia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Austria
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Benelux
	 Serena Software
	  	SERENA	  		  	826933971	  	Brazil
	 Serena Software
	  	SERENA	  		  	661339	  	Chile
	 Serena Software
	  	SERENA	  		  	Z1230726	  	China
	 Serena Software
	  	SERENA	  	298922	  	04097792	  	Columbia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Croatia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Czech Republic
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Denmark
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Finland
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	France
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Germany
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Greece
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Hungary
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Iceland
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Ireland
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Italy
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Japan
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Korea
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Latvia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Liechtenstein
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Lithuania
	 Serena Software
	  	SERENA	  	892281	  	679,913	  	Mexico
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Norway
	 Serena Software
	  	SERENA	  	103891	  	221,262	  	Peru
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Poland
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Portugal
	 Serena Software
	  	SERENA	  		  	Z1230726	  	Romania
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Russia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Singapore
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Slovakia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Slovenia
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Spain
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Sweden
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Switzerland
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Turkey
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	UK

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	SERENA	  	829384	  	Z1230726	  	Ukraine
	 Serena Software
	  	SERENA	  		  	2004-017006	  	Venezuela
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Madrid Protocol
	 Serena Software
	  	TEAMTRACK	  		  	2548310	  	Argentina
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Australia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Austria
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Benelux
	 Serena Software
	  	TEAMTRACK	  		  	826933998	  	Brazil
	 Serena Software
	  	TEAMTRACK	  	723.989	  	661341	  	Chile
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	China
	 Serena Software
	  	TEAMTRACK	  	301274	  	04097789	  	Columbia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Croatia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Cyprus
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Czech Republic
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Denmark
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Finland
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	France
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Germany
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Greece
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Hungary
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Iceland
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Ireland
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Italy
	 Serena Software
	  	TEAMTRACK	  		  	A0000109	  	Japan
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Korea
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Latvia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Lesotho
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Liechtenstein
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Lithuania
	 Serena Software
	  	TEAMTRACK	  	887666	  	679912	  	Mexico
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Monaco
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Morocco
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Norway
	 Serena Software
	  	TEAMTRACK	  	103736	  	221263	  	Peru
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Poland
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Portugal
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Romania
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Russia
	 Serena Software
	  	TEAMTRACK	  		  	A0000109	  	Singapore
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Slovakia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Slovenia
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Spain

									
	 Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Sweden
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Switzerland
	 Serena Software
	  	TEAMTRACK	  	849681	  	A0000109	  	Turkey
	 Serena Software
	  	TEAMTRACK	  		  	A0000109	  	UK
	 Serena Software
	  	TEAMTRACK	  		  	A0000109	  	Ukraine
	 Serena Software
	  	TEAMTRACK	  		  	2004-017004	  	Venezuela

 ANNEX A TO THE 
 SECURITY AGREEMENT 
 [Form of] 
 Patent Security Agreement 
 Patent Security Agreement, dated as of March
[    ], 2006, by [            ] and [            ] (individually, a “Grantor”,
and, collectively, the “Grantors”), in favor of LEHMAN BROTHERS COMMERCIAL PAPER INC., in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral Agent”). 
 W I T N
E S S E T H: 
 WHEREAS, the Pledgors are party to a Security Agreement of even date herewith (the “Security Agreement”) in favor of the
Collateral Agent pursuant to which the Pledgors are required to execute and deliver this Patent Security Agreement; 
 NOW,
THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the Secured Parties, to enter into the Credit Agreement, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them
in the Security Agreement. 
 SECTION 2. Grant of Security Interest in Patent Collateral. Each Pledgor hereby pledges and grants to
the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor: 
 (a) Patents of such Pledgor listed on Schedule I1 attached hereto; and 
 (b) all Proceeds of any and all of the foregoing. 
 SECTION 3. Security Agreement. The security interest granted pursuant to this Patent Security Agreement is granted in conjunction with the
security interest granted to the Collateral Agent pursuant to the Security Agreement and Pledgors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the Patents made and
granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Patent Security Agreement is deemed to
conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
  

	1	Should include same Patents listed on Schedule 12(a) of the Perfection Certificate. 

  

 A-1 

 SECTION 4. Termination. Upon the termination of the Security Agreement in accordance with its
terms, the Collateral Agent shall execute, acknowledge, and deliver to the Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Patents under this Patent Security
Agreement. 
 SECTION 5. Counterparts. This Patent Security Agreement may be executed in any number of counterparts, all of which
shall constitute one and the same instrument, and any party hereto may execute this Patent Security Agreement by signing and delivering one or more counterparts. 
 [signature page follows] 
  

 A-2 

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

			
	Very truly yours,
	
	[PLEDGORS]
		
	By:	 	  
  

	Name:	 	
	Title:	 	

 Accepted and Agreed: 
  

			
	 LEHMAN BROTHERS COMMERCIAL PAPER INC.,
 as Collateral Agent

		
	By:	 	  
  

	Name:	 	
	Title:	 	

  

 A-3 

 SCHEDULE I 
 to 
 PATENT SECURITY AGREEMENT 
 PATENT REGISTRATIONS AND PATENT APPLICATIONS 
 Patent Registrations: 
  

					
	 OWNER
	  	REGISTRATION
NUMBER	  	NAME

 Patent Applications: 
  

					
	 OWNER
	  	APPLICATION
NUMBER	  	NAME

  

 A-4 

 ANNEX B TO THE 
 SECURITY AGREEMENT 
 [Form of] 
 Trademark Security Agreement 
 Trademark Security Agreement, dated
as of March [    ], 2006, by [            ] and [            ] (individually, a
“Grantor”, and, collectively, the “Grantors”), in favor of LEHMAN BROTHER COMMERCIAL PAPER, in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral
Agent”). 
 W I T
N E S S E T
H: 
 WHEREAS, the Pledgors are party to a Security Agreement of even date herewith (the
“Security Agreement”) in favor of the Collateral Agent pursuant to which the Pledgors are required to execute and deliver this Trademark Security Agreement; 
 NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the Secured
Parties, to enter into the Credit Agreement, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined
Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 
 SECTION 2. Grant of Security Interest in Trademark Collateral. Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all
of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor: 
 (a) Trademarks of such Pledgor
listed on Schedule I2 attached hereto; and 
 (b) all Proceeds of any and all of the foregoing. 
 SECTION 3. Security Agreement. The security interest granted pursuant to this Trademark Security Agreement is granted in conjunction with the security interest granted to the Collateral Agent pursuant to the Security Agreement and
Pledgors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the Trademarks made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions
of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Trademark Security Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall
control. 
  

	2	Should include same Trademarks listed on Schedule 12(a) of the Perfection Certificate. 

  

 B-1 

 SECTION 4. Termination. Upon the termination of the Security Agreement in accordance with its
terms, the Collateral Agent shall execute, acknowledge, and deliver to the Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Trademarks under this Trademark
Security Agreement. 
 SECTION 5. Counterparts. This Trademark Security Agreement may be executed in any number of counterparts, all
of which shall constitute one and the same instrument, and any party hereto may execute this Trademark Security Agreement by signing and delivering one or more counterparts. 
 [signature page follows] 
  

 B-2 

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

			
	Very truly yours,
	
	[PLEDGORS]
		
	By:	 	  
  

	Name:	 	
	Title:	 	

 Accepted and Agreed: 
  

			
	 LEHMAN BROTHERS COMMERCIAL PAPER INC.,
 as Collateral Agent

		
	By:	 	  
  

	Name:	 	
	Title:	 	

  

 B-3 

 SCHEDULE I 
 to 
 TRADEMARK SECURITY AGREEMENT 
 TRADEMARK REGISTRATIONS AND TRADEMARK APPLICATIONS 
 Trademark Registrations: 
  

					
	 OWNER
	  	REGISTRATION
NUMBER	  	TRADEMARK

 Trademark Applications: 
  

					
	 OWNER
	  	APPLICATION
NUMBER	  	TRADEMARK

  

 B-4 

 ANNEX C TO THE 
 SECURITY AGREEMENT 
 [Form of] 
 Copyright Security Agreement 
 Copyright Security Agreement, dated
as of March [    ], 2006, by [            ] and [            ] (individually, a
“Grantor”, and, collectively, the “Grantors”), in favor of LEHMAN BROTHERS COMMERCIAL PAPER INC., in its capacity as collateral agent pursuant to the Credit Agreement (in such capacity, the “Collateral
Agent”). 
 W I T
N E S S E T
H: 
 WHEREAS, the Pledgors are party to a Security Agreement of even date herewith (the
“Security Agreement”) in favor of the Collateral Agent pursuant to which the Pledgors are required to execute and deliver this Copyright Security Agreement; 
 NOW, THEREFORE, in consideration of the premises and to induce the Collateral Agent, for the benefit of the Secured
Parties, to enter into the Credit Agreement, the Pledgors hereby agree with the Collateral Agent as follows: 
 SECTION 1. Defined
Terms. Unless otherwise defined herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 
 SECTION 2. Grant of Security Interest in Copyright Collateral. Each Pledgor hereby pledges and grants to the Collateral Agent for the benefit of the Secured Parties a lien on and security interest in and to all
of its right, title and interest in, to and under all the following Pledged Collateral of such Pledgor: 
 (a) Copyrights of such Pledgor
listed on Schedule I3 attached hereto; and 
 (b) all Proceeds of any and all of the foregoing. 
 SECTION 3. Security Agreement. The security interest granted pursuant to this Copyright Security Agreement is granted in conjunction with the
security interest granted to the Collateral Agent pursuant to the Security Agreement and Pledgors hereby acknowledge and affirm that the rights and remedies of the Collateral Agent with respect to the security interest in the Copyrights made and
granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Copyright Security Agreement is deemed to
conflict with the Security Agreement, the provisions of the Security Agreement shall control. 
  

	3	Should include same Copyrights listed on Schedule 12(a) of the Perfection Certificate. 

  

 C-1 

 SECTION 4. Termination. Upon the termination of the Security Agreement in accordance with its
terms, the Collateral Agent shall execute, acknowledge, and deliver to the Pledgors an instrument in writing in recordable form releasing the collateral pledge, grant, assignment, lien and security interest in the Copyrights under this Copyright
Security Agreement. 
 SECTION 5. Counterparts. This Copyright Security Agreement may be executed in any number of counterparts, all
of which shall constitute one and the same instrument, and any party hereto may execute this Copyright Security Agreement by signing and delivering one or more counterparts. 
 [signature page follows] 
  

 C-2 

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

			
	Very truly yours,
	
	[PLEDGORS]
		
	By:	 	  
  

	Name:	 	
	Title:	 	

 Accepted and Agreed: 
  

			
	 LEHMAN BROTHERS COMMERCIAL PAPER INC.,
 as Collateral Agent

		
	By:	 	  
  

	Name:	 	
	Title:	 	

  

 C-3 

 SCHEDULE I 
 to 
 COPYRIGHT SECURITY AGREEMENT 
 COPYRIGHT REGISTRATIONS AND COPYRIGHT APPLICATIONS 
 Copyright Registrations: 
  

					
	 OWNER
	  	REGISTRATION
NUMBER	  	TITLE

 Copyright Applications: 
  

			
	 OWNER
	  	TITLE

  

 C-4 

 ANNEX D TO THE 
 SECURITY AGREEMENT 
 SUPPLEMENT NO. [    ] dated as of
[                    ], to the SECURITY AGREEMENT dated as of March 10, 2006, among SERENA SOFTWARE, INC., a Delaware corporation (“the
Borrower”), each of the Subsidiaries of the Borrower listed on the signature pages thereto (each such entity being a “Subsidiary Grantor” and, collectively, the “Subsidiary Grantors”; the Subsidiary
Grantors and the Borrower are referred to collectively as the “Grantors”) and LEHMAN COMMERCIAL PAPER INC., as Collateral Agent (in such capacity, the “Collateral Agent”) under the Credit Agreement referred to
below. 
 1. Reference is made to [(a)] Credit Agreement, dated as of March 10, 2006 (as amended, amended and restated, supplemented or
otherwise modified, refinanced or replaced from time to time, the “Credit Agreement”), among SPYGLASS MERGER CORP., a Delaware corporation (which merged on the date thereof with and into Borrower), the lending institutions from time
to time party thereto (each a “Lender” and collectively, the “Lenders”), LEHMAN COMMERCIAL PAPER INC., as Administrative Agent and as Collateral Agent, LEHMAN BROTHERS INC., MERRILL LYNCH, PIERCE, FENNER & SMITH
INCORPORATED and UBS SECURITIES LLC, as Joint Lead Arrangers and Joint Lead Bookrunners, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as Syndication Agent and UBS SECURITIES LLC, as Documentation Agent [and (b) the Guarantee dated as of
[                    ], (as the same may be amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the
“Guarantee”), among the Guarantors party thereto and the Collateral Agent]4. 
 2. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement. 

3. The Grantors have entered into the Security Agreement in order to induce the Administrative Agent, the Collateral Agent, the Syndication Agent, the
Lenders and the Letter of Credit Issuer to enter into the Credit Agreement and to induce the respective Lenders and the Letter of Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit Agreement and to induce
one or more Lenders or affiliates of Lenders to enter into Hedge Agreements. 
 4. Section 9.11 of the Credit Agreement and
Section 8.13 of the Security Agreement provide that each Subsidiary of the Borrower that is required to become a party to the Security Agreement pursuant to Section 9.11 of the Credit Agreement shall become a Grantor, with the same force
and effect as if originally named as a Grantor therein, for all purposes of the Security Agreement upon execution and delivery by such Subsidiary of an instrument in the form of this Supplement. Each undersigned Subsidiary (each a “New
Grantor”) is executing this Supplement in accordance with the requirements of the Security Agreement to become a Subsidiary Grantor under the Security Agreement in order to induce the Lenders and the Letter of Credit Issuer to make additional
Extensions of Credit and as consideration for Extensions of Credit previously made. 
 Accordingly, the Collateral Agent and the New Grantors
agree as follows: 
  

	4	There are no Guarantors as of the Closing Date; include to the extent Guarantees have been provided pursuant to the Credit Agreement. 

  

 D-1 

 1. In accordance with subsection 8.13 of the Security Agreement, each New Grantor by its signature
below becomes a Grantor under the Security Agreement with the same force and effect as if originally named therein as a Grantor and each New Grantor hereby (a) agrees to all the terms and provisions of the Security Agreement applicable to it as
a Grantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, each New Grantor, as security
for the payment and performance in full of the Obligations, does hereby bargain, sell, convey, assign, set over, mortgage, pledge, hypothecate and transfer to the Collateral Agent, for the ratable benefit of the Secured Parties, and hereby grants to
the Collateral Agent, for the ratable benefit of the Secured Parties, a Security Interest in all of the Collateral of such New Grantor, in each case whether now or hereafter existing or in which now has or hereafter acquires an interest. Each
reference to a “Grantor” in the Security Agreement shall be deemed to include each New Grantor. The Security Agreement is hereby incorporated herein by reference. 
 2. Each New Grantor represents and warrants to the Collateral Agent and the other Secured Parties that this Supplement has been duly authorized, executed
and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 
 3. This
Supplement may be executed by one or more of the parties to this Supplement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute
one and the same instrument. A set of the copies of this Supplement signed by all the parties shall be lodged with the Collateral Agent and the Borrower. This Supplement shall become effective as to each New Grantor when the Collateral Agent shall
have received counterparts of this Supplement that, when taken together, bear the signatures of such New Grantor and the Collateral Agent. 
 4. Each New Grantor hereby represents and warrants that (a) set forth on Schedule I attached hereto is a true and correct schedule of the location of any and all Collateral of such New Grantor, (b) set forth under its
signature hereto is (i) the legal name of such New Grantor, (ii) the jurisdiction of incorporation or organization of such New Grantor, (iii) the true and correct location of the chief executive office and principal place of business
and any office in which it maintains books or records relating to Collateral owned by it, (iv) the identity or type of organization or corporate structure of such New Grantor and (v) the Federal Taxpayer Identification Number and
organizational identification number of such New Grantor and (c) as of each Closing Date (i) Schedule II hereto sets forth, in proper form for filing with the United States Copyright Office, all of each New Grantor’s
Copyrights, (ii) Schedule III hereto sets forth, in proper form for filing with the United States Patent and Trademark Office, all of each New Grantor’s Patents, (iii) Schedule IV hereto sets forth, in proper form for filing with the
United States Patent and Trademark Office, all of each New Grantor’s Trademarks. 
 5. Except as expressly supplemented hereby, the
Security Agreement shall remain in full force and effect. 
 6. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER
SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 7. Any provision of
this Supplement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof and in the Security
Agreement, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
  

 D-2 

 The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions
with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 8. All notices, requests and demands pursuant hereto shall be made in accordance with Section 13.2 of the Credit Agreement. All communications and notices hereunder to each New Grantor shall be given to it in care of the Borrower at
the Borrower’s address set forth in Section 13.2 of the Credit Agreement. 
 9. Each New Grantor agrees to reimburse the Collateral
Agent for its respective reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of counsel for the Collateral Agent. 
  

 D-3 

 IN WITNESS WHEREOF, each New Grantor and the Collateral Agent have duly executed this Supplement to the
Security Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR]
		
	By:	 	  
  

	Name:	 	
	Title:	 	
	
	 LEHMAN COMMERCIAL PAPER INC.,
 AS COLLATERAL
AGENT

		
	By:	 	  
  

  

 D-4 

 SCHEDULE I 
 TO SUPPLEMENT NO.     TO THE  
 SECURITY AGREEMENT 
 COLLATERAL 
  

									
	 Legal Name
	  	Jurisdiction of
Incorporation
or Organization	  	Location of
Chief Executive
Office and
Principal Place
of Business	  	Type of
Organization or
Corporate
Structure	  	Federal Taxpayer
Identification
Number and
Organizational
Identification
Number

  

 D-5 

 SCHEDULE II 
 TO SUPPLEMENT NO.     TO THE  
 SECURITY AGREEMENT 
 COPYRIGHTS 
  

					
	 Registered
 Owner/Grantor
	  	Title	  	Registration
Number

  

 D-6 

 SCHEDULE III 
 TO SUPPLEMENT NO.     TO THE  
 SECURITY AGREEMENT 
 PATENTS 
  

					
	 Registered
 Owner/Grantor
	  	Title	  	Registration
Number

  

 D-7 

 SCHEDULE IV 
 TO SUPPLEMENT NO.      TO THE  
 SECURITY AGREEMENT 
 TRADEMARKS 
 Domestic Trademarks 
  

							
	 Registered
 Owner/Grantor
	  	Trademark	  	Registration No.	  	Application No.

 Foreign Trademarks 
  

									
	 Registered
 Owner/Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country

  

 D-8 

 ANNEX E TO THE 
 SECURITY AGREEMENT 
 SUPPLEMENT NO. [    ] dated as of
[            ], to the SECURITY AGREEMENT dated as of March 10, 2006, among SERENA SOFTWARE, INC., a Delaware corporation (“the Borrower”), each of the Subsidiaries of
the Borrower listed on the signature pages thereto (each such entity being a “Subsidiary Grantor” and, collectively, the “Subsidiary Grantors”; the Subsidiary Grantors and the Borrower are referred to collectively
as the “Grantors”) and LEHMAN COMMERCIAL PAPER INC., as Collateral Agent (in such capacity, the “Collateral Agent”) under the Credit Agreement referred to below. 
 1. Reference is made to [(a)] Credit Agreement, dated as of March 10, 2006 (as amended, amended and restated, supplemented or otherwise modified,
refinanced or replaced from time to time, the “Credit Agreement”), among SPYGLASS MERGER CORP., a Delaware corporation (which merged on the date thereof with and into Borrower), the lending institutions from time to time party
thereto (each a “Lender” and collectively, the “Lenders”), LEHMAN COMMERCIAL PAPER INC., as Administrative Agent and as Collateral Agent, LEHMAN BROTHERS INC., MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED
and UBS SECURITIES LLC, as Joint Lead Arrangers and Joint Lead Bookrunners, MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED, as Syndication Agent and UBS SECURITIES LLC, as Documentation Agent [and (b) the Guarantee dated as of
[                    ], (as the same may be amended, restated, supplemented or otherwise modified, refinanced or replaced from time to time, the
“Guarantee”), among the Guarantors party thereto and the Collateral Agent].5 
 2. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Security Agreement. 

3. The Grantors have entered into the Security Agreement in order to induce the Administrative Agent, the Collateral Agent, the Syndication Agent, the
Documentation Agent, the Lenders and the Letter of Credit Issuer to enter into the Credit Agreement and to induce the respective Lenders and the Letter of Credit Issuer to make their respective Extensions of Credit to the Borrower under the Credit
Agreement and to induce one or more Lenders or affiliates of Lenders to enter into Hedge Agreements with the Borrower. Pursuant to Section 4.1(b) of the Security Agreement, within 30 days after the end of each calendar quarter, each Grantor has
agreed to deliver to the Collateral Agent a written supplement substantially in the form of Annex B thereto with respect to any additional Copyrights, Copyright Licenses, Patents, Patent Licenses, Trademarks and Trademark Licenses acquired by such
Grantor after the date of the Credit Agreement. The Grantors have identified on Schedules I, II and III hereto the additional Copyrights, Patents and Trademarks acquired by such Grantors after the date of the Credit Agreement.
The undersigned Grantors are executing this Supplement in order to facilitate supplemental filings to be made by the Collateral Agent with the United States Copyright Office and the United States Patent and Trademark Office. 
 Accordingly, the Collateral Agent and the Grantors agree as follows: 
  

	5	There are no Guarantors as of the Closing Date; include to the extent Guarantees have been provided pursuant to the Credit Agreement. 

  

 E-1 

 1. (a) Schedule 1 of the Security Agreement is hereby supplemented, as applicable, by the
information set forth in the Schedule I hereto, (b) Schedule 2 of the Security Agreement is hereby supplemented, as applicable, by the information set forth in the Schedule II hereto and (c) Schedule 3 of the
Security Agreement is hereby supplemented, as applicable, by the information set forth in the Schedule III hereto. 
 2. Each Grantor
hereby grants to the Collateral Agent for the benefit of the Secured Parties a security interest in the Intellectual Property set forth in Schedules I, II and III hereto. Each Grantor hereby represents and warrants that the
information set forth on Schedules I, II and III hereto is true and correct. 
 3. This Supplement may be executed by
one or more of the parties to this Supplement on any number of separate counterparts (including by facsimile or other electronic transmission), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. A
set of the copies of this Supplement signed by all the parties shall be lodged with the Collateral Agent and the Borrower. This Supplement shall become effective as to each Grantor when the Collateral Agent shall have received counterparts of this
Supplement that, when taken together, bear the signatures of such Grantor and the Collateral Agent. 
 4. Except as expressly supplemented
hereby, the Security Agreement shall remain in full force and effect. 
 5. THIS SUPPLEMENT AND THE RIGHTS AND OBLIGATIONS
OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 
 6. Any provision of this Supplement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof and in the Security Agreement, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. The parties hereto shall endeavor in good-faith
negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 7. All notices, requests and demands pursuant hereto shall be made in accordance with Section 13.2 of the Credit Agreement. All communications and
notices hereunder to each Grantor shall be given to it in care of the Borrower at the Borrower’s address set forth in Section 13.2 of the Credit Agreement. 
 8. Each Grantor agrees to reimburse the Collateral Agent for its respective reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, other charges and disbursements of
counsel for the Collateral Agent. 
  

 E-2 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have duly executed this Supplement to the
Security Agreement as of the day and year first above written. 
  

			
	[NAME OF GRANTOR]
		
	By:	 	  
  

	Name:	 	
	Title:	 	
	
	 LEHMAN COMMERCIAL PAPER INC., AS
 COLLATERAL
AGENT

		
	By:	 	  
  

	Name:	 	
	Title:	 	

  

 E-3 

 SCHEDULE I 
 TO SUPPLEMENT NO.      TO THE  
 SECURITY AGREEMENT 
 COPYRIGHTS 
  

					
	 Registered
 Owner/Grantor
	  	Title	  	Registration
Number

  

 E-4 

 SCHEDULE II 
 TO SUPPLEMENT NO.      TO THE  
 SECURITY AGREEMENT 
 PATENTS 
  

					
	 Registered
 Owner/Grantor
	  	Title	  	Registration
Number

  

 E-5 

 SCHEDULE III 
 TO SUPPLEMENT NO.      TO THE  
 SECURITY AGREEMENT 
 TRADEMARKS 
 Domestic Trademarks 
  

							
	 Registered
 Owner/Grantor
	  	Trademark	  	Registration No.	  	Application No.

 Foreign Trademarks 
  

									
	 Registered
 Owner/Grantor
	  	Trademark	  	Registration No.	  	Application No.	  	Country

  

 E-6

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