Document:

exv10w2

Exhibit 10.2

Execution Copy

COLLATERAL TRUST AGREEMENT

Dated as of March 5, 2010

by and among

EASTMAN KODAK COMPANY,

THE OTHER TRUSTORS PARTY HERETO

THE BANK OF NEW YORK MELLON,

as Trustee under the Indenture,

and

THE BANK OF NEW YORK MELLON,

as Collateral Agent

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	SECTION 1 Definitions and Other Matters	 	 	2	 
	 
	 	 	 	 	 	 
	1.1
	 	Rules of Interpretation	 	 	2	 
	1.2
	 	Defined Terms	 	 	3	 
	 
	 	 	 	 	 	 
	SECTION 2 The Trust Estate	 	 	9	 
	 
	 	 	 	 	 	 
	2.1
	 	Declaration of Trust	 	 	9	 
	2.2
	 	Intercreditor Agreement	 	 	10	 
	2.3
	 	New Second Lien Facilities	 	 	10	 
	2.4
	 	Acknowledgment of Second Lien Security Interests	 	 	12	 
	 
	 	 	 	 	 	 
	SECTION 3 Actionable Default; Remedies; Administration of Trust Property	 	 	12	 
	 
	 	 	 	 	 	 
	3.1
	 	Notice of Default; Written Instructions	 	 	12	 
	3.2
	 	Remedies	 	 	13	 
	3.3
	 	Administration of Trust Property	 	 	13	 
	3.4
	 	Power of Attorney	 	 	14	 
	3.5
	 	Right to Initiate Judicial Proceedings, Etc.	 	 	15	 
	3.6
	 	Appointment of a Receiver	 	 	15	 
	3.7
	 	Exercise of Powers	 	 	15	 
	3.8
	 	Control by the Majority Holders	 	 	16	 
	3.9
	 	Remedies Not Exclusive	 	 	16	 
	3.10
	 	Waiver of Certain Rights	 	 	17	 
	3.11
	 	Limitation on Collateral Agent’s Duties in Respect of Collateral	 	 	17	 
	3.12
	 	Limitation by Law	 	 	17	 
	3.13
	 	Absolute Rights of Second Lien Secured Parties	 	 	18	 
	 
	 	 	 	 	 	 
	SECTION 4 Trust Account, Application Of Moneys	 	 	18	 
	 
	 	 	 	 	 	 
	4.1
	 	The Trust Account	 	 	18	 

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	4.2
	 	Control of Trust Account	 	 	18	 
	4.3
	 	Investment of Funds Deposited in Trust Account	 	 	18	 
	4.4
	 	Application of Moneys in Trust Account	 	 	19	 
	4.5
	 	Application of Moneys Distributable to Second Lien Secured Parties	 	 	20	 
	 
	 	 	 	 	 	 
	SECTION 5 Agreements With The Collateral Agent	 	 	20	 
	 
	 	 	 	 	 	 
	5.1
	 	Delivery of Second Lien Documents	 	 	20	 
	5.2
	 	Information as to Second Lien Secured Parties	 	 	21	 
	5.3
	 	Compensation and Expenses	 	 	21	 
	5.4
	 	Stamp and Other Similar Taxes	 	 	22	 
	5.5
	 	Filing Fees, Excise Taxes, etc.	 	 	22	 
	5.6
	 	Indemnification	 	 	22	 
	5.7
	 	Further Assurances; Notation on Financial Statements	 	 	22	 
	 
	 	 	 	 	 	 
	SECTION 6 The Collateral Agent	 	 	23	 
	 
	 	 	 	 	 	 
	6.1
	 	Acceptance of Trust; Powers of the Collateral Agent	 	 	23	 
	6.2
	 	Exculpatory Provisions	 	 	23	 
	6.3
	 	Delegation of Duties	 	 	24	 
	6.4
	 	Reliance by Collateral Agent	 	 	25	 
	6.5
	 	Limitations on Duties of Collateral Agent	 	 	25	 
	6.6
	 	Moneys to be Held in Trust	 	 	26	 
	6.7
	 	Resignation and Removal of the Collateral Agent	 	 	26	 
	6.8
	 	Status of Successors to the Collateral Agent	 	 	27	 
	6.9
	 	Merger of the Collateral Agent	 	 	27	 
	6.10
	 	Co-Trustee, Separate Trustee	 	 	28	 
	 
	 	 	 	 	 	 
	SECTION 7 Release of Second Lien Collateral	 	 	29	 
	 
	 	 	 	 	 	 
	7.1
	 	Conditions to Release; Release Procedure	 	 	29	 
	 
	 	 	 	 	 	 
	SECTION 8 Miscellaneous	 	 	32	 

 

 

	 	 	 	 	 	 	 
	 	 	 	 	Page	 
	 
	 	 	 	 	 	 
	8.1
	 	Amendments, Supplements and Waivers	 	 	32	 
	8.2
	 	Voting	 	 	34	 
	8.3
	 	Notices	 	 	35	 
	8.4
	 	Headings	 	 	35	 
	8.5
	 	Severability	 	 	36	 
	8.6
	 	Treatment of Payee or Indorsee by Collateral Agent	 	 	36	 
	8.7
	 	Dealings with the Trustors	 	 	36	 
	8.8
	 	Claims Against the Collateral Agent	 	 	36	 
	8.9
	 	Binding Effect; Successors and Assigns	 	 	36	 
	8.10
	 	Governing Law	 	 	37	 
	8.11
	 	Consent to Jurisdiction	 	 	37	 
	8.12
	 	Waiver of Jury Trial	 	 	37	 
	8.13
	 	Force Majeure	 	 	38	 
	8.14
	 	Consequential Damages	 	 	38	 
	8.15
	 	Intercreditor Agreement	 	 	38	 
	8.16
	 	Counterparts	 	 	39	 
	8.17
	 	Incorporation by Reference	 	 	39	 
	8.18
	 	Consent to Certain Amendments	 	 	39	 

	 	 	 	 	 
	Exhibit A

	 	-
	 	Form of Supplement to Collateral Trust Agreement
	Exhibit B

	 	-
	 	Form of Joinder to Collateral Trust Agreement

 

 

          This COLLATERAL TRUST AGREEMENT, dated as of March 5, 2010 (as amended, amended and
restated, supplemented or otherwise modified from time to time, this “Agreement”), by and among
Eastman Kodak Company, a New Jersey corporation (together with its successors, the “Company”), the
direct or indirect subsidiaries of the Company listed in the signature pages hereto (the
“Guarantors”), the Additional Trustors (as defined in Section 5.7(b)) (and together with the
Company and the Guarantors, the “Trustors”), The Bank of New York Mellon, as trustee under the
Indenture referred to below (in such capacity, together with its successors and assigns from time
to time, the “Indenture Trustee”), The Bank of New York Mellon, as second lien collateral agent (in
such capacity, together with its successors and assigns from time to time, the “Collateral Agent”)
for the Second Lien Secured Parties, and each New Second Lien Representative party hereto from time
to time.

PRELIMINARY STATEMENTS:

          WHEREAS, pursuant to an Indenture, dated as of March 5, 2010 (as amended, amended and
restated, supplemented, replaced, refinanced or otherwise modified from time to time, the
“Indenture”), among the Company, the Guarantors, the other Trustors party thereto from time to
time, the Indenture Trustee and the Collateral Agent, the Company intends to issue an aggregate
original principal amount of $500,000,000 of its 9.75% senior secured notes due March 1, 2018
(together with any Additional Notes (as defined in the Indenture) issued pursuant to and in
compliance with the Indenture, the “Notes”);

          WHEREAS, the Company and the Guarantors have entered into an Amended and Restated Credit
Agreement, dated as of March 31, 2009 (as amended by Amendment No. 1 to the Amended and Restated
Credit Agreement, dated as of September 17, 2009, and by Amendment No. 2 to the Amended and
Restated Credit Agreement, dated as of February 10, 2010, and as may be further amended, amended
and restated, supplemented, replaced, refinanced or otherwise modified from time to time, the
“First Lien Credit Agreement”), among the financial institutions and other lenders from time to
time party thereto and Citicorp USA, Inc., as agent, and the obligations of the Company and the
Guarantors under the First Lien Credit Agreement are secured by a lien on the Common Collateral,
which lien is to be first in priority to that of the Collateral Agent in respect of the Second Lien
Obligations to the extent set forth in that certain Intercreditor Agreement, dated as of March 5,
2010 (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“Intercreditor Agreement”), among Citicorp USA, Inc., as First Lien Representative (as defined
therein), The Bank of New York Mellon, as Second Lien Representative (as defined therein), the
Company, each other Trustor party thereto from time to time and such other Persons party thereto
from time to time in accordance with the terms thereof;

          WHEREAS, the Company and the Guarantors may, from time to time, incur additional indebtedness
permitted to be secured on an equal and ratable basis with the obligations under the Second Lien
Note Documents, which indebtedness the Company shall designate as having a second priority security
interest in the Common Collateral and shall be incurred under a credit facility, indenture or
similar debt facility (each, a “New Second Lien Facility”), in each case in accordance with this
Agreement, and the then-extant First Lien Documents and the Second Lien Documents. For the
avoidance of doubt, only additional indebtedness for which

 

 

each of the requirements specified in Section 2.3 hereof have been satisfied shall constitute
a New Second Lien Facility for any purpose of this Agreement;

          WHEREAS, the Liens securing the obligations of the applicable Trustors in respect of any New
Second Lien Facility shall be granted pursuant to the Second Lien Collateral Documents;

          WHEREAS, the First Lien Collateral Agent has been granted a security interest in the Common
Collateral for the benefit of the First Lien Secured Parties to secure the payment and performance
of the First Lien Obligations;

          WHEREAS, the Collateral Agent has agreed to act on behalf of all Second Lien Secured Parties
with respect to the Collateral; and

          WHEREAS, it is a condition precedent to the issuance of the Notes that the Company, the
Guarantors and the Collateral Agent enter into this Agreement and the Second Lien Collateral
Documents in order to secure the payment and performance of the Second Lien Obligations.

          NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth,
the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement hereby
agree as follows:

SECTION 1

Definitions and Other Matters

          1.1 Rules of Interpretation.

          (a) The words “hereof”, “herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement.

          (b) The use in this Agreement or any of the Second Lien Collateral Documents of the word
“include” or “including,” when following any general statement, term or matter, will not be
construed to limit such statement, term or matter to the specific items or matters set forth
immediately following such word or to similar items or matters, whether or not nonlimiting language
(such as “without limitation” or “but not limited to” or words of similar import) is used with
reference thereto, but will be deemed to refer to all other items or matters that fall within the
broadest possible scope of such general statement, term or matter. The word “will” shall be
construed to have the same meaning and effect as the word “shall.”

          (c) References to “Sections,” “clauses,” “recitals” and the “preamble” will be to Sections,
clauses, recitals and the preamble, respectively, of this Agreement unless otherwise specifically
provided. References to “Articles” will be to Articles of this Agreement unless otherwise
specifically provided. References to “Exhibits” and “Schedules” will be to Exhibits and Schedules,
respectively, to this Agreement unless otherwise specifically provided.

2

 

          (d) This Agreement and the Second Lien Collateral Documents will be construed without regard
to the identity of the party who drafted it and as though the parties participated equally in
drafting it. Consequently, each of the parties acknowledges and agrees that any rule of
construction that a document is to be construed against the drafting party will not be applicable
either to this Agreement or the other Second Lien Collateral Documents.

          1.2 Defined Terms.

          As used in this Agreement, the following terms shall have the following meanings (such
meanings to be equally applicable to both the singular and the plural forms of the terms defined):

          “Actionable Default” means the occurrence of any of the following:

          (a) an “Event of Default” under and as defined in the Indenture; or

          (b) any event or condition which, under the terms of any New Second Lien Facility, causes, or
permits holders of the New Second Lien Obligations with respect to such New Second Lien Facility to
cause, such New Second Lien Obligations to become immediately due and payable;

provided that, upon delivery of a Notice of Actionable Default, the Collateral Agent may assume
that an Actionable Default shall be continuing unless the Notice of Actionable Default delivered
with respect thereto shall have been withdrawn in a writing delivered to the Collateral Agent by
the requisite holders of the Series of Second Lien Obligations to which such Notice of Actionable
Default relates (determined under the Second Lien Documents governing such Series), or by the
Representative with respect to such Series of Second Lien Obligations, prior to the first date on
which the Collateral Agent commences the exercise of any remedy with respect to the Second Lien
Collateral following the receipt of such Notice of Actionable Default.

          “Bankruptcy Code” means the United States Bankruptcy Code (11 U.S.C. §101 et seq.), as amended
from time to time, and any successor statute.

          “Bankruptcy Proceeding” means that the Company, any Guarantor or any Additional Trustor, if
any, shall generally not pay its debts as such debts become due, or shall admit in writing its
inability to pay its debts generally, or there shall be an assignment for the benefit of creditors
relating to the Company, any Guarantor or any Additional Trustor, if any, whether or not voluntary;
or any case shall be commenced by or against the Company, any Guarantor or any Additional Trustor,
if any under the Bankruptcy Code or any similar federal or state law for the relief of debtors,
whether or not voluntary; or any proceeding shall be instituted by or against the Company, any
Guarantor or any Additional Trustor, if any, seeking to adjudicate it bankrupt or insolvent, or
seeking liquidation, dissolution, marshalling of assets or liabilities, winding up, reorganization,
arrangement, adjustment, protection, relief, or composition of it or its debts, in each case
whether or not voluntary and whether or not involving bankruptcy or insolvency, or seeking the
entry of an order for relief or the appointment of a receiver, trustee, administrator or other
similar official for it or for any substantial part of its property and assets, whether or not
voluntary; or any event or action analogous to or having a substantially similar effect to any of
the events or actions set forth above in this definition (other

3

 

than a solvent reorganization) shall occur under the law of any jurisdiction applicable to the
Company, any Guarantor or any Additional Trustor, if any; or the Company, any Guarantor or any
Additional Trustor, if any, shall take any corporate, partnership, limited liability company or
other similar action to authorize any of the actions set forth above in this definition.

          “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks
in The City of New York are authorized by law to close.

          “Capital Stock” means, with respect to any Person, any and all shares of stock of a
corporation, partnership interests or other equivalent interests (however designated, whether
voting or non-voting) in such Person’s equity, entitling the holder to receive a share of the
profits and losses, and a distribution of assets, after liabilities, of such Person.

          “Collateral Agent” has the meaning set forth in the recital of parties to this Agreement.

          “Collateral Agent’s Fees” means all fees, costs and expenses of the Collateral Agent (or any
co-trustee or agent thereof) of the type described in Sections 5.3, 5.4, 5.5 and 5.6 of this
Agreement.

          “Collateral Trust Joinder” means a joinder agreement substantially in the form of Exhibit B.

          “Common Collateral” means all assets constituting both First Lien Collateral and Second Lien
Collateral.

          “Company” has the meaning set forth in the recital of parties to this Agreement.

          “Discharge of First Lien Obligations” means the Payment in Full of all First Lien Obligations;
provided that the amount of First Lien Obligations for all purposes of this Agreement shall in no
event exceed the First Lien Cap.

          “Distribution Dates” means the dates fixed by the Collateral Agent (the first of which shall
occur within 90 days after receipt of a Notice of Actionable Default that has not theretofore been
withdrawn and the balance of which shall be monthly thereafter) for the distribution of all moneys
held by the Collateral Agent in the Trust Account.

          “Equity Interests” means all Capital Stock and all warrants or options with respect to, or
other rights to purchase, Capital Stock, but excluding debt convertible into equity.

          “First Lien Cap” has the meaning set forth in the Intercreditor Agreement.

          “First Lien Collateral” has the meaning set forth in the Intercreditor Agreement.

          “First Lien Collateral Agent” means Citicorp USA, Inc., in its capacity as agent for the
holders of First Lien Obligations under the First Lien Credit Agreement, or any successor agent or
any other agent for the holders of First Lien Obligations who joins the Intercreditor Agreement as
a New First Lien Representative (as defined in the Intercreditor Agreement).

4

 

          “First Lien Credit Agreement” has the meaning set forth in the preliminary statements to this
Agreement.

          “First Lien Documents” has the meaning set forth in the Intercreditor Agreement.

          “First Lien Obligations” has the meaning set forth in the Intercreditor Agreement.

          “First Lien Secured Parties” has the meaning set forth in the Intercreditor Agreement.

          “Guarantors” has the meaning set forth in the recital of parties to this Agreement.

          “Indenture” has the meaning set forth in the preliminary statements to this Agreement.

          “Indenture Trustee” has the meaning set forth in the recital of parties to this Agreement.

          “Intercreditor Agreement” has the meaning set forth in the preliminary statements to this
Agreement.

          “Lien” has the meaning set forth in the Intercreditor Agreement.

          “Majority Holders” means, as of any date, (a) at any time when no New Second Lien Facility is
outstanding, Second Lien Secured Parties owed or holding more than 50% of the aggregate principal
amount of indebtedness constituting Second Lien Note Obligations, or such other requisite
percentage or number of holders of Second Lien Note Obligations (or the Indenture Trustee, on
behalf of the holders of Second Lien Note Obligations) as is permitted by, and in accordance with,
the Indenture; or (b) otherwise, Second Lien Secured Parties owed or holding more than 50% of the
aggregate of the sum of, without duplication: (i) the aggregate principal amount of indebtedness
constituting Second Lien Note Obligations, (ii) the aggregate principal amount of the loans and
other advances outstanding under each New Second Lien Facility and (iii) other than in connection
with the exercise of remedies, the aggregate amount of all outstanding unexpired or uncanceled
commitments to extend credit (if any) under each New Second Lien Facility outstanding at such time
that, when funded, would constitute New Second Lien Obligations; provided, however, that, in the
case of clauses (ii) and (iii) above, if any New Second Lien Secured Party shall be a “defaulting
lender” (howsoever defined in the relevant New Second Lien Document at such time), there shall be
excluded from the determination of Majority Holders: (A) the aggregate principal amount of loans
and other advances owing to such New Second Lien Secured Party under such New Second Lien Document
at such time, and (B) such New Second Lien Secured Party’s pro rata share of the outstanding
commitments to extend credit (if any) under such New Second Lien Document at such time unless
another lender has or is obligated to assume the defaulting lender’s rights and obligations under
the applicable New Second Lien Documents. For purposes of this definition, (x) votes will be
determined in accordance with the provisions of Section 8.2 and (y) any Second Lien Obligations
registered in the name of, or owned or held by the Company, any Guarantor, any Additional Trustor
or any of their respective affiliates shall be disregarded.

5

 

          “Material Subsidiary” means a direct Subsidiary of the Company that, for the most recently
completed fiscal year of the Company for which audited financial statements are available, either
(A) has, together with its Subsidiaries, assets that exceed 5% of the total assets shown on the
consolidated statement of financial condition of the Company as of the last day of such period or
(B) has, together with its Subsidiaries, net sales that exceed 5% of the consolidated net sales of
the Company for such period.

          “New Second Lien Facility” has the meaning set forth in the preliminary statements to this
Agreement.

          “New Second Lien Documents” means, collectively, with respect to any New Second Lien Facility,
the agreements, documents and instruments providing for or evidencing any related New Second Lien
Obligations, including the definitive documentation in respect of such New Second Lien Facility,
the Second Lien Collateral Documents and any intercreditor or joinder agreement among any New
Second Lien Secured Parties with respect to such New Second Lien Facility (or binding upon through
one or more of their representatives), to the extent such are effective at the relevant time, as
each may be amended, restated, supplemented, modified, renewed or extended from time to time in
accordance with the provisions of this Agreement.

          “New Second Lien Obligations” means all obligations of any of the Trustors from time to time
arising under or in respect of the due and punctual payment of (i) the principal of and premium, if
any, and interest (including any Post-Petition Interest) on the indebtedness for borrowed money
outstanding under each New Second Lien Facility, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, and (ii) 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
Bankruptcy Proceeding with respect to any Trustor, regardless of whether allowed or allowable in
such proceeding), of the Trustors under the New Second Lien Documents owing to the New Second Lien
Secured Parties (in their capacity as such). For the avoidance of doubt, as of the date hereof,
there are no New Second Lien Obligations outstanding.

          “New Second Lien Representative” means (a) any agent or trustee for or other representative of
the lenders or holders of obligations, as applicable, under a New Second Lien Facility, together
with its successors and permitted assigns, or (b) any New Second Lien Secured Party, solely to the
extent that such New Second Lien Secured Party (i) is the sole lender or other holder of
obligations under a particular New Second Lien Facility and (ii) is not represented by an agent,
trustee or other representative.

          “New Second Lien Secured Parties” means, at any relevant time, subject to Section 2.3, the
holders of any New Second Lien Obligations at that time, including each applicable New Second Lien
Representative.

          “Note Guaranty” means each “Note Guaranty” as defined in the Indenture.

          “Notes” has the meaning set forth in the preliminary statements to this Agreement.

6

 

          “Notice of Actionable Default” means a written notice delivered to the Collateral Agent by the
requisite holders of a Series of Second Lien Obligations in accordance with the Second Lien
Documents governing such Series (or by the Representative with respect to such Series with the
written consent of the requisite holders of a Series of Second Lien Obligations in accordance with
the Second Lien Documents governing such Series) stating that an Actionable Default with respect to
such Series has occurred.

          “Officer’s Certificate” means a certificate with respect to compliance with a condition or
covenant provided for in this Agreement, signed on behalf of the Company by the Company’s principal
executive officer, principal financial officer or treasurer, including:

          (a) a statement that the Person making such certificate has read such covenant or condition;

          (b) a brief statement as to the nature and scope of the examination or investigation upon
which the statements or opinions contained in such certificate are based;

          (c) a statement that, in the opinion of such Person, he or she has made such examination or
investigation as is necessary to enable him or her to express an informed opinion as to whether or
not such covenant or condition has been satisfied; and

          (d) a statement as to whether or not, in the opinion of such Person, such condition or
covenant has been satisfied.

          “Payment in Full” has the meaning set forth in the Intercreditor Agreement.

          “Person” means an individual, partnership, corporation (including a business trust), joint
stock company, trust, unincorporated association, joint venture, limited liability company or other
entity, or a government or any political subdivision or agency thereof.

          “Post-Petition Interest” means any interest or entitlement to fees or expenses that accrues
after the commencement of any Bankruptcy Proceeding with respect to any Trustor, whether or not
allowed or allowable in any such Bankruptcy Proceeding.

          “Representative” means (a) with respect to the Second Lien Note Obligations, the Indenture
Trustee and (b) with respect to each Series of New Second Lien Obligations, the New Second Lien
Representative with respect thereto.

          “Restricted Subsidiary” means (i) any “Restricted Subsidiary” as defined in the Indenture and
(ii) at any time when no Second Lien Note Obligations are outstanding (other than any
indemnification obligations for which no claim or demand for payment, whether oral or written, has
been made) any Person that is a “restricted subsidiary” (or any comparable term) of the Company
pursuant to any New Second Lien Document.

          “Second Lien Collateral” means all of the assets or property of the Company, any Guarantor or
any Additional Trustor, whether real, personal or mixed, with respect to which a Lien is granted or
purported to be granted as security for any Second Lien Obligations.

7

 

          “Second Lien Collateral Documents” means, collectively, the Second Lien Security Agreement,
each Grantor Joinder (as defined in the Intercreditor Agreement) and any other agreement, document
or instrument pursuant to which a Lien is granted securing any Second Lien Obligations or under
which rights or remedies with respect to such Liens are governed, as each may be amended, restated,
supplemented or otherwise modified from time to time.

          “Second Lien Documents” means, collectively, the Second Lien Note Documents and the New Second
Lien Documents.

          “Second Lien Note Documents” means, collectively, the Indenture, the Notes, each Note
Guaranty, the Second Lien Collateral Documents and each of the other agreements, documents and
instruments providing for or evidencing any Second Lien Note Obligation, any other document or
instrument executed or delivered at any time in connection with any Second Lien Note Obligation,
including pursuant to the Second Lien Collateral Documents, and any intercreditor or joinder
agreement among holders of Second Lien Note Obligations (or binding upon one or more of them
through their representatives), to the extent such are effective at the relevant time, as each may
be amended, restated, supplemented, modified, renewed or extended from time to time in accordance
with this Agreement.

          “Second Lien Note Obligations” means all “Obligations” (as defined in the Indenture) in
respect of indebtedness incurred under the Indenture and all other obligations of the Company, the
Guarantors and the other Additional Trustors, if any, from time to time arising under or in respect
of the due and punctual payment of (a) the principal of and premium, if any, and interest
(including any Post-Petition Interest) on the Notes, when and as due, whether at maturity, by
acceleration, upon one or more dates set for prepayment or otherwise, and (b) 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
Bankruptcy Proceeding with respect to the Company, any Guarantor or any Additional Trustor,
regardless of whether allowed or allowable in such proceeding), of the Company, the Guarantors and
the Additional Trustors, if any, under the Indenture and the other Second Lien Note Documents owing
to the Second Lien Note Secured Parties (in their capacity as such).

          “Second Lien Note Secured Parties” means, at any relevant time, the holders of Second Lien
Note Obligations at that time, including, without limitation, the Collateral Agent, the Indenture
Trustee and the holders of Notes.

          “Second Lien Obligations” means (a) the Second Lien Note Obligations and (b) subject to
Section 2.3, the New Second Lien Obligations.

          “Second Lien Secured Parties” means, collectively, the Second Lien Note Secured Parties and
any New Second Lien Secured Parties.

          “Second Lien Security Agreement” means the Security Agreement, dated as of March 5, 2010, and
any successor or replacement thereof, among the Company, the Guarantors and the Collateral Agent or
any successor or replacement agent.

8

 

          “Securities” means any stock, shares, partnership interests, voting trust certificates,
certificates of interests or participation in any profit-sharing agreement or arrangement, options,
warrants, bonds, debentures, notes, or other evidences or indebtedness, secured or unsecured,
convertible, subordinated or otherwise, or in general any instruments commonly known as
“securities” or any certificates of interest, shares or participations in temporary or interim
certificates for the purchase or acquisition of, or any right to subscribe to, purchase or acquire,
any of the foregoing.

          “Series”, when used with respect to any Second Lien Obligations, refers to whether such Second
Lien Obligations are Second Lien Note Obligations or New Second Lien Obligations (and, if such
Second Lien Obligations are New Second Lien Obligations, “Series” refers to the New Second Lien
Facility pursuant to which such New Second Lien Obligations have been incurred).

          “Subsidiary” means with respect to any Person, any corporation, association or other business
entity of which more than 50% of the outstanding Voting Stock is owned, directly or indirectly, by,
or, in the case of a partnership, the sole general partner or the managing partner or the only
general partners of which are, such Person and one or more Subsidiaries of such Person (or a
combination thereof).

          “Trustors” has the meaning set forth in the recital of parties to this Agreement.

          “Voting Stock” means, with respect to any Person, Capital Stock of any class or kind
ordinarily having the power to vote for the election of directors, managers or other voting members
of the governing body of such Person.

SECTION 2

The Trust Estate.

          2.1 Declaration of Trust.

          (a) To secure the payment and performance of the Second Lien Obligations and in consideration
of the premises and the mutual agreements set forth herein, each of the Trustors hereby grants to
the Collateral Agent, and the Collateral Agent hereby accepts and agrees to hold, in trust under
this Agreement for the benefit of all present and future Second Lien Secured Parties, all of such
Trustor’s right, title and interest in, to and under the Second Lien Collateral for the benefit of
all present and future Second Lien Secured Parties, together with all of the Collateral Agent’s
right, title and interest in, to and under the Second Lien Collateral Documents and the
Intercreditor Agreement, and all interests, rights, powers and remedies of the Collateral Agent
thereunder or in respect thereof and all cash and non-cash proceeds thereof constituting Second
Lien Collateral (collectively, the “Trust Estate”).

          (b) The Collateral Agent and its successors and assigns under this Agreement will hold the
Trust Estate in trust for the benefit solely and exclusively of all present and future Second Lien
Secured Parties as security for the payment of all present and future Second Lien Obligations;
provided, however, that if at any time the Company, the Guarantors and the

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Additional Trustors, if any, and their successors or assigns, shall satisfy all of the
conditions set forth in Section 7.1 in connection with the release of all Second Lien Collateral,
then this Agreement, and the estates and rights assigned in the Second Lien Collateral Documents,
shall cease, terminate and be void; otherwise they shall remain and be in full force and effect in
accordance with their respective terms; provided, further, that notwithstanding the foregoing, all
provisions set forth in Sections 5.3, 5.4, 5.5 and 5.6 that are enforceable by the Collateral Agent
or any of its co-trustees or agents (whether in an individual or representative capacity) will
remain enforceable in accordance with their terms.

          (c) The parties to this Agreement further covenant and declare that the Trust Estate will be
held and distributed by the Collateral Agent, subject to the further covenants, conditions and
agreements hereinafter set forth.

          2.2 Intercreditor Agreement.

          The Collateral Agent shall concurrently with the execution of this Agreement enter into the
Intercreditor Agreement with the First Lien Collateral Agent, the Company and the Guarantors party
thereto and, so long as any First Lien Obligations remain outstanding, shall comply with all
applicable terms and conditions thereunder.

          2.3 New Second Lien Facilities.

          (a) The Collateral Agent will act as agent hereunder for, and perform its duties set forth in
this Agreement on behalf of, each holder of Second Lien Obligations in respect of indebtedness that
is issued or incurred after the date hereof that:

          (i) holds New Second Lien Obligations that are identified as such in accordance with
the procedures set forth in clause (b) of this Section 2.3; and

          (ii) signs, through its designated New Second Lien Representative identified pursuant
to clause (b) of this Section 2.3, a Collateral Trust Joinder and delivers the same to the
Collateral Agent.

          (b) The Company or any other Trustor will be permitted to incur indebtedness in respect of a
New Second Lien Facility and to designate as an additional holder of Second Lien Obligations
hereunder the lenders, agents and each New Second Lien Representative, as applicable, under such
New Second Lien Facility, in each case only to the extent such indebtedness is designated by the
Company in accordance with this Section 2.3(b) and only to the extent such incurrence is permitted
under the terms of the First Lien Documents and the Second Lien Documents. The Company may only
effect such designation by delivering to the Collateral Agent (with copies to the First Lien
Collateral Agent (if any), the Indenture Trustee and to each previously identified New Second Lien
Representative), each of the following:

          (i) on or prior to the date on which such New Second Lien Facility is incurred, an
Officer’s Certificate stating that each applicable Trustor intends to incur additional
indebtedness under such New Second Lien Facility, and certifying that (A) such incurrence is
permitted and does not violate or result in any default under the First Lien Documents, the
Second Lien Note Documents or any then existing New Second

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Lien Documents (other than any incurrence of Second Lien Obligations that would
simultaneously repay all First Lien Obligations or Second Lien Obligations, as applicable,
under the First Lien Documents or the Second Lien Documents, as applicable, under which such
default would arise), (B) the definitive documentation associated with such New Second Lien
Facility contains a written agreement of the holders of such indebtedness, for the
enforceable benefit of all holders of existing and future First Lien Obligations, all other
holders of existing and future Second Lien Obligations, each existing and future First Lien
Collateral Agent, each existing and future Indenture Trustee and each existing and future
New Second Lien Representative substantially as follows: (x) that all Second Lien
Obligations will be and are secured equally and ratably by all Liens at any time granted by
any Trustor to the Collateral Agent, for the benefit of the Second Lien Secured Parties, to
secure any Second Lien Obligations, whether or not upon property otherwise constituting
collateral to such Second Lien Obligations and that all Liens granted pursuant to the Second
Lien Collateral Documents will be enforceable by the Collateral Agent for the benefit of all
holders of Second Lien Obligations equally and ratably as contemplated by this Agreement
(provided, that if provided by the terms thereof or with the consent of the holders thereof,
a Series of New Second Lien Obligations may be secured by Liens (which shall be equal and
ratable with the Liens securing the Second Lien Note Obligations) on assets and properties
comprising less (but not more) than all of the assets and properties upon which Liens have
been granted to secure the Second Lien Note Obligations), (y) that the holders of Second
Lien Obligations in respect of such New Second Lien Facility are bound by the provisions of,
and agree to the terms of, the Intercreditor Agreement and this Agreement, including the
provisions relating to the ranking of Liens and the order of application of proceeds from
the enforcement of Liens and (z) consenting to and directing the Collateral Agent to perform
its obligations under this Agreement, the Intercreditor Agreement and the Second Lien
Collateral Documents; provided that such indebtedness in respect of such New Second Lien
Facility shall not be permitted to also constitute indebtedness in respect of First Lien
Obligations, and (C) the Company and each other Trustor has duly authorized, executed (if
applicable) and recorded (or caused to be recorded), or intends to authorize, execute and
record (if applicable), in each appropriate governmental office all relevant filings and
recordations, if any, necessary to ensure that the New Second Lien Obligations in respect of
such New Second Lien Facility are secured by the Second Lien Collateral to the extent set
forth in and required by the New Second Lien Documents and in accordance with this
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents;

          (ii) a written notice specifying the name and address of the New Second Lien
Representative in respect of such New Second Lien Facility for purposes of Section 8.3; and

          (iii) a copy of the executed Collateral Trust Joinder referred to in clause (a) above,
executed by the applicable New Second Lien Representative (on behalf of each New Second Lien
Secured Party represented by it).

          (c) Although the Grantors shall be required to deliver a copy of each of the foregoing
documents described in clauses (i) through (iii) of Section 2.3(b) to the First Lien

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Collateral Agent, the Indenture Trustee and each then existing New Second Lien Representative,
the failure to so deliver a copy of any such document to the First Lien Collateral Agent, the
Indenture Trustee and any such New Second Lien Representative (other than the certification
described in clause (i) of Section 2.3(b) and the Collateral Trust Joinder referred to in clause
(iii) of Section 2.3(b), which shall in all cases be required and which shall be delivered to each
of the First Lien Collateral Agent, the Indenture Trustee and each then existing New Second Lien
Representative on or prior to the incurrence of indebtedness under the applicable New Second Lien
Facility) shall not affect the status of such New Second Lien Facility as New Second Lien
Obligations or Second Lien Obligations entitled to the benefits of this Agreement, the
Intercreditor Agreement and the Second Lien Collateral Documents if the other requirements of this
Section 2.3 are satisfied.

          2.4 Acknowledgment of Second Lien Security Interests.

          (a) Each of the Indenture Trustee (for itself and on behalf of each Second Lien Note Secured
Party), each New Second Lien Representative (for itself and on behalf of each New Second Lien
Secured Party represented by it), each Trustor and the Collateral Agent acknowledges and agrees
that, pursuant to the Second Lien Collateral Documents, each of the Trustors has granted to the
Collateral Agent, for the benefit of the Second Lien Secured Parties, a security interest in all
such Trustor’s rights, title and interest in, to and under the Second Lien Collateral to secure the
payment and performance of all present and future Second Lien Obligations. Each of the Indenture
Trustee (for itself and on behalf of each Second Lien Note Secured Party), each New Second Lien
Representative (for itself and on behalf of each New Second Lien Secured Party represented by it),
each Trustor and the Collateral Agent acknowledges and agrees that, pursuant to the Second Lien
Collateral Documents, the aforementioned security interest granted to the Collateral Agent, for the
benefit of the Second Lien Secured Parties, shall for all purposes and at all times secure the
Second Lien Note Obligations and the New Second Lien Obligations (if any) on an equal and ratable
basis, except as is otherwise contemplated in the first proviso contained in Section 2.3(b)(i).

          (b) The Collateral Agent and its successors and assigns under this Agreement will act for the
benefit solely and exclusively of all present and future Second Lien Secured Parties and will hold
the Second Lien Collateral and the Liens thereon as security for the payment and performance of all
present and future Second Lien Obligations, in each case, under terms and conditions of this
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents.

SECTION 3

Actionable Default; Remedies; Administration of Trust Property.

          3.1 Notice of Default; Written Instructions.

          (a) Upon receipt of a Notice of Actionable Default, the Collateral Agent shall, within five
days thereafter, notify the Indenture Trustee and each New Second Lien Representative that an
Actionable Default exists.

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          (b) Upon receipt of any written directions pursuant to Section 3.8(a), the Collateral Agent
shall, within five days thereafter, send a copy thereof to the Indenture Trustee and each New
Second Lien Representative.

          3.2 Remedies.

          (a) Upon the receipt of a Notice of Actionable Default and so long as such Notice of
Actionable Default shall not have been withdrawn in a writing delivered to the Collateral Agent by
the requisite holders of the Series of Second Lien Obligations to which such Notice of Actionable
Default relates (determined under the Second Lien Documents governing such Series), or by the
Representative with respect to such Series, and subject to the provisions of the Intercreditor
Agreement, the Collateral Agent may exercise the rights and remedies provided in this Agreement,
the Intercreditor Agreement and in the Second Lien Collateral Documents.

          (b) To the extent permitted by applicable law, the Trustors hereby waive presentment, demand,
protest or any notice of any kind in connection with this Agreement, the Intercreditor Agreement,
any Second Lien Collateral or any Second Lien Collateral Document.

          3.3 Administration of Trust Property.

          (a) Each Second Lien Secured Party (acting through the Indenture Trustee or its New Second
Lien Representative, as applicable) hereby appoints the Collateral Agent to serve as collateral
trustee and agent hereunder on the terms and conditions set forth herein. Subject to, and in
accordance with, this Agreement, the Collateral Agent will serve as collateral trustee and agent
hereunder, for the benefit solely and exclusively of the present and future Second Lien Secured
Parties, and will, subject to the Intercreditor Agreement (at any time prior to the Discharge of
First Lien Obligations):

          (i) accept, enter into, hold, maintain, administer and enforce all Second Lien
Collateral Documents, including all Second Lien Collateral subject thereto, and all Liens
created thereunder, perform its obligations under the Second Lien Collateral Documents and
protect, exercise and enforce the interests, rights, powers and remedies granted or
available to it under, pursuant to or in connection with the Second Lien Collateral
Documents;

          (ii) take all lawful and commercially reasonable actions permitted under the
Intercreditor Agreement and the Second Lien Collateral Documents that it may deem necessary
or advisable to protect or preserve its interest in the Second Lien Collateral subject
thereto and such interests, rights, powers and remedies;

          (iii) deliver and receive notices pursuant to the Intercreditor Agreement and the
Second Lien Collateral Documents;

          (iv) sell, assign, collect, assemble, foreclose on, institute legal proceedings with
respect to, or otherwise exercise or enforce the rights and remedies of a secured party
(including a mortgagee, trust deed beneficiary and insurance beneficiary or

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loss payee) with respect to the Second Lien Collateral under the Second Lien Collateral
Documents and its other interests, rights, powers and remedies;

          (v) remit as provided in Section 4.4 all cash proceeds received by the Collateral Agent
from the collection, foreclosure or enforcement of its interest in the Second Lien
Collateral under the Second Lien Collateral Documents or any of its other interests, rights,
powers or remedies;

          (vi) execute and deliver amendments to this Agreement and the Second Lien Collateral
Documents as from time to time authorized pursuant to Section 8.1 accompanied by an
Officer’s Certificate to the effect that the amendment was permitted under Section 8.1; and

          (vii) release any Lien granted to it by any Second Lien Collateral Document upon any
Second Lien Collateral if and as required by Section 7.1.

          (b) Each party to this Agreement acknowledges and consents to the undertaking of the
Collateral Agent set forth in Section 3.3(a) and agrees to each of the other provisions of this
Agreement applicable to the Collateral Agent.

          3.4 Power of Attorney.

          Each Trustor hereby irrevocably constitutes and appoints the Collateral Agent and any officer
or agent thereof, with full power of substitution, as their true and lawful attorney-in-fact with
full power and authority in the name of such Trustor, or in its own name, from time to time acting
at the direction of the Trustors, or in the Collateral Agent’s discretion upon the occurrence and
during the continuance of an Actionable Default, for the purpose of carrying out the terms of this
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents, to take any and
all appropriate action and to execute any and all documents and instruments that may be necessary
or desirable to accomplish the purposes hereof and thereof and, without limiting the generality of
the foregoing, hereby gives the Collateral Agent the power and right on behalf of such Trustor,
without notice to or assent by any Trustor, and subject to the provisions of the Intercreditor
Agreement, to do the following:

          (a) to ask for, demand, sue for, collect, receive, recover, compromise and give acquittance
and receipts for any and all moneys due or to become due upon or by virtue hereof and thereof;

          (b) to receive, take, endorse, assign and deliver any and all checks, notes, drafts,
acceptances, documents and other negotiable and non-negotiable instruments and chattel paper taken
or received by the Collateral Agent in connection herewith and therewith;

          (c) to commence, file, institute, prosecute, defend, settle, compromise or adjust any claim,
suit, action or proceeding with respect hereto and thereto or in connection herewith and therewith;

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          (d) to sell, transfer, assign or otherwise deal in or with the Second Lien Collateral or any
part thereof as fully and effectually as if the Collateral Agent were the absolute owner thereof;
and

          (e) to do, at its option and at the expense and for the account of such Trustor, at any time
or from time to time, all acts and things that the Collateral Agent deems necessary to protect or
preserve the Second Lien Collateral or the Trust Estate and to realize upon the Collateral.

          3.5 Right to Initiate Judicial Proceedings, Etc.

          Upon the receipt of a Notice of Actionable Default and so long as such Notice of Actionable
Default shall not have been withdrawn in a writing delivered to the Collateral Agent by the
requisite holders of the Series of Second Lien Obligations to which such Notice of Actionable
Default relates (determined under the Second Lien Documents governing such Series), or by the
Representative with respect to such Series, and subject to the provisions of the Intercreditor
Agreement:

          (a) the Collateral Agent shall have the right and power to institute and maintain such suits
and proceedings as it may deem appropriate to protect and enforce the rights vested in it by this
Agreement, the Intercreditor Agreement and each Second Lien Collateral Document; and

          (b) the Collateral Agent may, either after entry or without entry, proceed by suit or suits at
law or in equity to enforce such rights and to foreclose upon the Second Lien Collateral and to
sell all or, from time to time, any of the Trust Estate under the judgment or decree of a court of
competent jurisdiction.

          3.6 Appointment of a Receiver.

          Subject to the provisions of the Intercreditor Agreement, if a receiver of the Trust Estate
shall be appointed in judicial proceedings, the Collateral Agent may be appointed as such receiver.
Notwithstanding the appointment of a receiver, the Collateral Agent shall be entitled to retain
possession and control of all cash held by or deposited with it or its agents pursuant to any
provision of this Agreement, the Intercreditor Agreement or any Second Lien Collateral Document.

          3.7 Exercise of Powers.

          Subject to the provisions of the Intercreditor Agreement, all of the powers, remedies and
rights of the Collateral Agent as set forth in this Agreement may be exercised by the Collateral
Agent in respect of any Second Lien Collateral Document as though set forth at length therein and
all the powers, remedies and rights of the Collateral Agent and the Second Lien Secured Parties as
set forth in any Second Lien Collateral Document may be exercised from time to time as herein and
therein provided.

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          3.8 Control by the Majority Holders.

          (a) Subject to Section 3.8(b), if an Actionable Default shall have occurred and be continuing
and if the Collateral Agent shall have received a Notice of Actionable Default with respect
thereto, subject to the provisions of the Intercreditor Agreement, the Majority Holders shall have
the right, by an instrument in writing executed and delivered to the Collateral Agent, to direct
the time, method and place of conducting any proceeding for any right or remedy available to the
Collateral Agent, or of exercising any trust or power conferred on the Collateral Agent, or for the
appointment of a receiver, or for the taking of any action authorized by Section 3 of this
Agreement.

          (b) The Collateral Agent shall not follow any written directions received pursuant to Section
3.8(a) to the extent such written directions are known by the Collateral Agent to be in conflict
with any provisions of law or the Intercreditor Agreement or if the Collateral Agent shall have
received from independent counsel an unqualified opinion to the effect that following such written
directions would result in a breach of a provision or covenant contained in the Indenture or impose
individual liability on the Collateral Agent.

          (c) Nothing in this Section 3.8 shall impair the right of the Collateral Agent in its
discretion to take or omit to take any action deemed proper by the Collateral Agent and which
action or omission is not inconsistent with the direction of the Second Lien Secured Parties
entitled to direct the Collateral Agent with respect to such action as provided for in this
Agreement; provided, however, that the Collateral Agent shall not be under any obligation to take
any action that is discretionary with the Collateral Agent under the provisions of this Agreement,
under the Intercreditor Agreement or under any Second Lien Collateral Document.

          3.9 Remedies Not Exclusive.

          (a) No remedy conferred upon or reserved to the Collateral Agent in this Agreement, in the
Intercreditor Agreement or in any Second Lien Collateral Document is intended to be exclusive of
any other remedy or remedies, but every such remedy shall be cumulative and shall be in addition to
every other remedy conferred in this Agreement, in the Intercreditor Agreement or in any Second
Lien Collateral Document or now or hereafter existing at law or in equity or by statute.

          (b) No delay or omission of the Collateral Agent to exercise any right, remedy or power
accruing upon any Actionable Default shall impair any such right, remedy or power or shall be
construed to be a waiver of any such Actionable Default or an acquiescence therein; and every
right, power and remedy given by this Agreement, the Intercreditor Agreement or any Second Lien
Collateral Document to the Collateral Agent may be exercised from time to time and as often as may
be deemed expedient by the Collateral Agent.

          (c) In case the Collateral Agent shall have proceeded to enforce any right, remedy or power
under this Agreement, the Intercreditor Agreement or any Second Lien Collateral Document and the
proceeding for the enforcement thereof shall have been discontinued or abandoned for any reason or
shall have been determined adversely to the Collateral Agent, then and in every such case the
Trustors, the Collateral Agent and the Second

16

 

Lien Secured Parties shall, subject to any determination in such proceeding, severally and
respectively be restored to their former positions and rights, under this Agreement, under the
Intercreditor Agreement and under such Second Lien Collateral Document with respect to the Trust
Estate and in all other respects, and thereafter all rights, remedies and powers of the Collateral
Agent shall continue as though no such proceeding had been taken.

          (d) All rights of action and rights to assert claims upon or under this Agreement, the
Intercreditor Agreement and the Second Lien Collateral Documents may be enforced by the Collateral
Agent without the possession of any Second Lien Document or the production thereof in any trial or
other proceeding relative thereto, and any such suit or proceeding instituted by the Collateral
Agent shall be brought in its name as Collateral Agent and any recovery of judgment shall be held
as part of the Trust Estate.

          3.10 Waiver of Certain Rights.

          The Trustors, to the extent they may lawfully do so, on behalf of themselves and all who may
claim through or under them, including, without limitation, any and all subsequent creditors,
vendees, assignees and lienors, expressly waive and release any, every and all rights to demand or
to have any marshaling of the Trust Estate upon any sale, whether made under any power of sale
herein granted or pursuant to judicial proceedings or upon any foreclosure or any enforcement of
this Agreement and consents and agrees that all the Trust Estate may at any such sale be offered
and sold as an entirety.

          3.11 Limitation on Collateral Agent’s Duties in Respect of Collateral.

          Beyond its duties set forth in this Agreement as to the custody thereof and the accounting to
the Trustors and the Second Lien Secured Parties for moneys received by it hereunder, the
Collateral Agent shall not have any duty to the Trustors and the Second Lien Secured Parties as to
any Second Lien Collateral in its possession or control or in the possession or control of any
agent or nominee of it or any income thereon or as to the preservation of rights against prior
parties or any other rights pertaining thereto. To the extent, however, that the Collateral Agent
or any agent or nominee thereof maintains possession or control of any of the Collateral, the
Collateral Agent shall, and shall instruct such agent or nominee to, grant the Trustors access to
such Second Lien Collateral that the Trustors require for the normal conduct of their business, so
long as the Collateral Agent shall not have received a Notice of Actionable Default.

          3.12 Limitation by Law.

          All rights, remedies and powers provided by this Section 3 may be exercised only to the extent
that the exercise thereof does not violate any applicable provision of law in the premises, and all
the provisions of this Section 3 are intended to be subject to all applicable mandatory provisions
of law that may be controlling in the premises and to be limited to the extent necessary so that
they will not render this Agreement invalid, unenforceable in whole or in part or not entitled to
be recorded, registered, or filed under the provisions of any applicable law.

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          3.13 Absolute Rights of Second Lien Secured Parties.

          Notwithstanding any other provision of this Agreement (other than Section 3.2) or any
provision of any Second Lien Collateral Document, but subject to the provisions of the
Intercreditor Agreement, the right of each Second Lien Secured Party, which is absolute and
unconditional, to receive payments of the Second Lien Obligations held by such Second Lien Secured
Party on or after the due date thereof as therein expressed, to seek adequate protection in respect
of its interest in this Agreement and the Collateral, to institute suit for the enforcement of such
payment on or after such due date, or to assert its position and views as a secured creditor in a
Bankruptcy Proceeding, or the obligation of the Trustors, which is also absolute and unconditional,
to pay in full and otherwise perform all Second Lien Obligations at the time and place expressed
therein shall not be impaired or affected without the consent of such Second Lien Secured Party.

SECTION 4

Trust Account, Application Of Moneys.

          4.1 The Trust Account.

          On the date hereof there shall be established and, at all times thereafter until the trusts
created by this Agreement shall have terminated, there shall be maintained with the Collateral
Agent an account that shall be entitled the “Eastman Kodak Company Second Lien Collateral Trust”
(the “Trust Account”). The Trust Account shall be established and maintained by the Collateral
Agent at its corporate trust offices. All moneys that are received by the Collateral Agent after
the occurrence of an Actionable Default in connection with any collection, sale, foreclosure or
other realization upon any Second Lien Collateral shall be deposited in the Trust Account and
thereafter shall be held and applied by the Collateral Agent in accordance with the terms of this
Agreement and the Intercreditor Agreement. To the extent necessary, appropriate or desirable, the
Collateral Agent from time to time may establish sub-accounts as part of the Trust Account for the
purpose of better identifying and maintaining proceeds of Second Lien Collateral, all of which
sub-accounts shall be treated as and be deemed equivalent to, the Trust Account for all purposes
hereof.

          4.2 Control of Trust Account.

          All right, title and interest in and to the Trust Account shall vest in the Collateral Agent,
and funds on deposit in the Trust Account shall constitute part of the Trust Estate. The Trust
Account shall be subject to the exclusive dominion and control of the Collateral Agent.

          4.3 Investment of Funds Deposited in Trust Account.

          At the written direction of the Majority Holders, the Collateral Agent shall invest and
reinvest moneys on deposit in the Trust Account at any time in money market funds investing in:

          (a) marketable obligations of the United States having a maturity of not more than one year
from the date of acquisition;

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          (b) marketable obligations directly and fully guaranteed by the United States having a
maturity of not more than one year from the date of acquisition;

          (c) repurchase obligations with a term of not more than 30 days for underlying securities of
the types described in clauses (a) and (b) entered into with either (i) the Collateral Agent or
(ii) any nationally recognized investment banking firm; or

          (d) a money market mutual fund registered under the Investment Company Act of 1940, the
principal of which is invested solely in obligations described in clauses (a), (b) and (c), as
selected by the Collateral Agent in its sole discretion;

provided, that the Majority Holders shall not be entitled to direct the making of any such
investment or reinvestment to the extent that the Trustors would not be permitted to hold such
investment under the terms of any Second Lien Documents.

All such investments and the interest and income received thereon and therefrom and the net
proceeds realized on the sale thereof shall be held in the Trust Account, as applicable, as part of
the Trust Estate.

          4.4 Application of Moneys in Trust Account.

          Subject to Section 4.5 and the Intercreditor Agreement, all moneys held by the Collateral
Agent in the Trust Account shall, to the extent available for distribution, be distributed (or
deposited in a separate account for the benefit of the Indenture Trustee and each New Second Lien
Representative pursuant to Section 4.5) by the Collateral Agent as follows:

          First:  To the Collateral Agent in an amount equal to the Collateral Agent’s
Fees that are unpaid as of the relevant Distribution Date and to any Second Lien Secured
Party that has theretofore advanced or paid any Collateral Agent’s Fees in an amount equal
to the amount thereof so advanced or paid by such Second Lien Secured Party prior to such
Distribution Date;

          Second: to the Indenture Trustee and each New Second Lien Representative (if
any) equally and ratably (in the same proportion that the unpaid Second Lien Obligations of
the Indenture Trustee or such New Second Lien Representative, as applicable, bear to all
unpaid Second Lien Obligations on the relevant Distribution Date) for application to the
payment in full of all outstanding Second Lien Obligations (other than Second Lien
Obligations paid pursuant to clause first above) that are then due and payable to the Second
Lien Secured Parties (which shall then be applied or held by the Indenture Trustee and each
such New Second Lien Representative in such order as may be provided in the applicable
Second Lien Documents); provided, that any moneys held in the Trust Account that were
received in connection with any collection, sale, foreclosure or other realization upon any
assets or properties that do not constitute Second Lien Collateral with respect one or more
Series of New Second Lien Obligations shall be distributed pursuant to this clause
Second to the Indenture Trustee and each New Second Lien Representative with
respect to each Series of New Second Lien Obligations that is secured by such assets or
properties, equally and ratably (in the same proportion that the unpaid Second Lien
Obligations of the Indenture Trustee or such New Second

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Lien Representative, as applicable, bear to all unpaid Second Lien Obligations secured
by such assets or properties on the relevant Distribution Date); and

          Third: Any surplus then remaining shall be paid to the respective Trustor,
its successors or assigns, or as a court of competent jurisdiction may direct.

In connection with the application of proceeds pursuant to this Section 4.4, except as otherwise
directed in writing by the Majority Holders, the Collateral Agent may sell any non-cash proceeds
for cash prior to the application of the proceeds thereof.

          4.5 Application of Moneys Distributable to Second Lien Secured Parties.

          If at any time any moneys collected or received by the Collateral Agent pursuant to this
Agreement, the Intercreditor Agreement or any Second Lien Collateral Document are distributable
pursuant to Section 4.4 to the Indenture Trustee or any New Second Lien Representative, and if the
Indenture Trustee or such New Second Lien Representative shall notify the Collateral Agent that no
provision is made under the Second Lien Note Documents or New Second Lien Documents, as applicable,
(a) for the application by the Indenture Trustee or such New Second Lien Representative, as
applicable, of such amounts so distributable (whether by virtue of the Second Lien Note Obligations
or the applicable New Second Lien Obligations not having become due and payable or otherwise) or
(b) for the receipt and the holding by the Indenture Trustee or such New Second Lien
Representative, as applicable, of such amounts pending the application thereof, then the Collateral
Agent shall invest, at the written direction of the Majority Holders, all such amounts applicable
to the Second Lien Note Obligations or the New Second Lien Obligations in obligations of the kinds
referred to in Section 4.3, and shall hold all such amounts so distributable, and all such
investments and the proceeds thereof, in trust solely for the Indenture Trustee and/or such New
Second Lien Representative and for no other purpose until such time as the Indenture Trustee or
such New Second Lien Representative shall request the delivery thereof by the Collateral Agent to
the Indenture Trustee or such New Second Lien Representative, as applicable, for application by it
pursuant to the Second Lien Note Documents or the New Second Lien Documents, as applicable.

This Section 4 is intended for the benefit of, and will be enforceable as a third party beneficiary
by, each present and future holder of Second Lien Obligations, each present and future Indenture
Trustee, each present and future New Second Lien Representative and the Collateral Agent as a
Second Lien Secured Party, in each case subject to the terms of the Intercreditor Agreement.

SECTION 5

Agreements With The Collateral Agent.

          5.1 Delivery of Second Lien Documents.

          Concurrently with the execution of this Agreement on the date hereof, the Company will deliver
to the Collateral Agent a true and complete copy of each of the Second Lien Documents then in
effect. The Company agrees that, promptly upon the execution thereof, Company will deliver to the
Collateral Agent a true and complete copy of (a) any and all

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amendments, modifications or supplements to any Second Lien Document, and (b) any Second Lien
Documents, entered into subsequent to the date hereof. Unless and until the Collateral Agent
actually receives such copies it shall not be deemed to have knowledge of them.

          5.2 Information as to Second Lien Secured Parties.

          The Company agrees that it shall deliver to the Collateral Agent from time to time upon
request of the Collateral Agent, a list setting forth, by each Second Lien Document then in effect:

          (i) the aggregate amount outstanding thereunder;

          (ii) the interest rates then in effect thereunder;

          (iii) to the extent known to the Company, the names of the holders of the
Notes outstanding thereunder and the unpaid principal amount owing to each such holder of
Notes; and

          (iv) the names of such other Second Lien Secured Parties under any other
Series of Second Lien Obligations and the unpaid aggregate amounts owing to each such Second
Lien Secured Party.

          The Company will furnish to the Collateral Agent within 30 days after the date hereof, and
periodically if notice addresses and/or addresses change, a list setting forth the name and address
of each party to whom notices must be sent under the Second Lien Documents. At all times the
Collateral Agent may assume without inquiry that the most recent list it has received remains
current.

          5.3 Compensation and Expenses.

          The Trustors, jointly and severally, agree to pay to the Collateral Agent and its officers,
directors, employees and agents, from time to time upon demand:

          (i) compensation (which shall not be limited by any provision of law in
regard to compensation of a trustee of an express trust), as agreed by the Trustors and the
Collateral Agent, for their services hereunder, under the Intercreditor Agreement and under
the Second Lien Collateral Documents and for administering the Trust Estate; and

          (ii) all of the fees, costs and expenses of the Collateral Agent (including,
without limitation, the reasonable fees, expenses and disbursements of their counsel and
such special counsel, auditors, accountants, consultants or appraisers or other professional
advisors and agents as the Collateral Agent elect to retain) (A) arising in connection with
the negotiation, preparation, execution, delivery, modification and termination of, or
consent or waiver to, this Agreement, the Intercreditor Agreement and each Second Lien
Collateral Document or the enforcement of any of the provisions hereof or thereof, or (B)
incurred or required to be advanced in connection with the administration of the Trust
Estate, the sale or other disposition of Second Lien Collateral pursuant to any Second Lien
Collateral Document and the preservation, protection or

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defense of the Collateral Agent’s rights under this Agreement and in and to the Second
Lien Collateral and the Trust Estate, and all reasonable costs and expenses incurred by the
Collateral Agent and its agents in creating, perfecting, preserving, releasing or enforcing
the Collateral Agent’s Liens on the Second Lien Collateral.

          The obligations of the Trustors under this Section 5.3 shall survive the termination of the
other provisions of this Agreement.

          5.4 Stamp and Other Similar Taxes.

          The Trustors, jointly and severally, agree to indemnify and hold harmless the Collateral Agent
and each Second Lien Secured Party (and their respective agents) from any present or future claim
for liability for any stamp or other similar tax and any penalties or interest with respect thereto
that may be assessed, levied or collected by any jurisdiction in connection with this Agreement,
the Intercreditor Agreement, any Second Lien Collateral Document, the Trust Estate or any Second
Lien Collateral. The obligations of the Trustors under this Section 5.4 shall survive the
termination of the other provisions of this Agreement.

          5.5 Filing Fees, Excise Taxes, etc.

          The Trustors, jointly and severally, agree to pay or to reimburse the Collateral Agent and its
agents for any and all amounts in respect of all search, filing, recording and registration fees,
taxes, excise taxes and other similar imposts that may be payable or determined to be payable in
respect of the execution, delivery, performance and enforcement of this Agreement, the
Intercreditor Agreement and each Second Lien Collateral Document. The obligations of the Trustors
under this Section 5.5 shall survive the termination of the other provisions of this Agreement.

          5.6 Indemnification.

          The Trustors, jointly and severally, agree to pay, indemnify, and hold the Collateral Agent,
the Indenture Trustee and each of its officers, directors, employees and agents harmless from and
against 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 Agreement, the
Intercreditor Agreement and the Second Lien Collateral Documents (including, but not limited to,
actions by the Collateral Agent to enforce its rights with respect to the Second Lien Collateral),
unless arising from the gross negligence or willful misconduct (in either case, as determined by a
final judgment of a court of competent jurisdiction) of the Collateral Agent or such of the agents
as are seeking indemnification. The foregoing indemnities in this Section 5.6 shall survive the
resignation or removal of the Collateral Agent or the termination of this Agreement.

          5.7 Further Assurances; Notation on Financial Statements.

          (a) At any time and from time to time, upon the written request of the Collateral Agent, and,
at the sole expense of the Trustors, the Trustors will promptly execute and deliver any and all
such further instruments and documents and take such further action as the

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Collateral Agent reasonably deems necessary or desirable in obtaining the full benefits of
this Agreement, the Intercreditor Agreement, the Second Lien Collateral Documents and the other
Second Lien Documents and of the rights and powers herein and therein granted. To the extent
required by law, the Trustors shall, in all of their financial statements, indicate by footnote or
otherwise that the Second Lien Obligations is secured pursuant to this Agreement and the Second
Lien Collateral Documents.

          (b) Pursuant to the Indenture and the Second Lien Security Agreement, from time to time,
additional direct or indirect subsidiaries of the Company are required to become parties to the
Second Lien Security Agreement. In connection with any such subsidiary becoming party to the
Second Lien Security Agreement, such subsidiary (an “Additional Trustor”) shall execute a
Supplement to Collateral Trust Agreement in the form of Exhibit A hereto and upon such execution
shall become a Trustor hereunder with all applicable rights and responsibilities.

SECTION 6

The Collateral Agent.

          6.1 Acceptance of Trust; Powers of the Collateral Agent.

          (a) The Collateral Agent, for itself and its successors, hereby accepts the trusts created by
this Agreement upon the terms and conditions hereof, including those contained in this Section 6.

          (b) The Collateral Agent is authorized and empowered to enter into and perform its obligations
and protect, perfect, exercise and enforce its interests, rights, powers and remedies under this
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents and applicable law
and in equity and to act as set forth in this Agreement or as requested in any lawful directions
given to it from time to time in respect of any matter by a written notice of the Majority Holders.

          (c) Neither the Indenture Trustee nor any New Second Lien Representative or any other holder
of Second Lien Obligations will have any liability whatsoever for any act or omission of the
Collateral Agent.

          (d) The Collateral Agent will accept, hold, administer and enforce all Liens on the Second
Lien Collateral at any time transferred or delivered to it and all other interests, rights, powers
and remedies at any time granted to or enforceable by the Collateral Agent and all other property
of the Trust Estates solely and exclusively for the benefit of all present and future holders of
Second Lien Obligations, and will distribute all proceeds received by it in realization thereon or
from enforcement thereof solely and exclusively pursuant to the provisions of Section 4.4.

          6.2 Exculpatory Provisions.

          (a) The Collateral Agent shall not be responsible in any manner whatsoever for the correctness
of any recitals, statements, representations or warranties contained in this

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Agreement, in the Intercreditor Agreement or in any Second Lien Collateral Document, all of
which are made solely by the Trustors. The Collateral Agent makes no representations as to the
value or condition of the Trust Estate or any part thereof, or as to the title of the Trustors
thereto or as to the security afforded by any Second Lien Collateral Document or this Agreement or
the Intercreditor Agreement, or as to the validity, execution (except its own execution),
enforceability, legality or sufficiency of this Agreement, the Intercreditor Agreement, any Second
Lien Collateral Document or the Second Lien Obligations secured hereby and thereby, and the
Collateral Agent shall incur no liability or responsibility in respect of any such matters. The
Collateral Agent shall not be responsible for insuring the Trust Estate or for the payment of
taxes, charges, assessments or liens upon the Trust Estate or otherwise as to the maintenance of
the Trust Estate, except that in the event the Collateral Agent enters into possession of a part or
all of the Trust Estate, the Collateral Agent shall preserve the part in its possession.

          (b) The Collateral Agent shall not be required to ascertain or inquire as to the performance
by the Trustors of any of the covenants or agreements contained in this Agreement, in the
Intercreditor Agreement, in any Second Lien Collateral Document or in any other Second Lien
Document. Whenever it is necessary, or in the opinion of the Collateral Agent advisable, for the
Collateral Agent to ascertain the amount of Second Lien Obligations then held by a Second Lien
Secured Party, the Collateral Agent may rely on a certificate of such Second Lien Secured Party or
its representative (including the Indenture Trustee or any applicable New Second Lien
Representative) as to such amount, and if any such Second Lien Secured Party or representative
shall not give such information to the Collateral Agent, such Second Lien Secured Party shall not
be entitled to receive distributions hereunder (in which case such distributions shall be held in
trust for such Second Lien Secured Party) until it has given such information to the Collateral
Agent.

          (c) The Collateral Agent shall not be personally liable for any action taken or omitted to be
taken by them in accordance with this Agreement, the Intercreditor Agreement or any Second Lien
Collateral Document except for its own gross negligence or willful misconduct.

          (d) The Collateral Agent shall have no responsibility for the preparation, filing or recording
of any instrument, document or financing statement or for the maintenance of any security interest
intended to be perfected thereby.

          6.3 Delegation of Duties.

          The Collateral Agent may execute any of the trusts or powers hereof and perform any duty
hereunder either directly or by or through agents or attorneys-in-fact, which may include officers
and employees of the Trustors. The Collateral Agent shall be entitled to advice of counsel, at the
expense of the Trustors, concerning all matters pertaining to such trusts, powers and duties. The
Collateral Agent shall not be responsible for the negligence or misconduct of any agents or
attorneys-in-fact selected by it without gross negligence or willful misconduct.

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          6.4 Reliance by Collateral Agent.

          (a) Whenever in the administration of the trusts of this Agreement the Collateral Agent shall
deem it necessary or desirable that a matter be proved or established in connection with the
taking, suffering or omitting any action hereunder by the Collateral Agent, such matter (unless
other evidence in respect thereof be herein specifically prescribed) may be deemed to be
conclusively provided or established by an Officer’s Certificate delivered to the Collateral Agent,
and such certificate shall be full warranty to the Collateral Agent for any action taken, suffered
or omitted in reliance thereon, subject, however, to the provisions of Section 6.5.

          (b) The Collateral Agent may consult with counsel of its selection, and any opinion of such
counsel who is not an employee of the Collateral Agent shall be full and complete authorization and
protection in respect of any action taken or suffered by it hereunder in accordance therewith. The
Collateral Agent shall have the right at any time to seek instructions concerning the
administration of the Trust Estate from any court of competent jurisdiction.

          (c) The Collateral Agent may rely, and shall be fully protected in acting, upon any
resolution, statement, certificate, instrument, opinion, report, notice, request, consent, order,
bond or other paper or document that it has no reason to believe to be other than genuine and to
have been signed or presented by the proper party or parties or, in the case of cables, telecopies
and telexes, to have been sent by the proper party or parties. In the absence of its gross
negligence or willful misconduct, the Collateral Agent may conclusively rely, as to the truth of
the statements and the correctness of the opinions expressed therein, upon any certificates or
opinions furnished to the Collateral Agent and conforming to the requirements of this Agreement or
any Second Lien Collateral Document. Without limitation to the foregoing, the Collateral Agent may
rely as provided in this Section 6.4 on any Officer’s Certificate provided by the Company pursuant
to Section 2.3 hereof, and may deem such information correct until such time as it receives any
written modification of any such certificate from Company in respect thereof.

          (d) The Collateral Agent shall not be under any obligation to exercise any of the rights or
powers vested in the Collateral Agent by this Agreement at the request or direction of the Majority
Holders pursuant to this Agreement, the Intercreditor Agreement or any Second Lien Collateral
Document, unless the Collateral Agent shall have been provided adequate security and indemnity
reasonably satisfactory to it against the costs, expenses and liabilities that may be incurred by
it in compliance with such request or direction, including such reasonable advances as may be
requested by the Collateral Agent.

          6.5 Limitations on Duties of Collateral Agent.

          (a) The Collateral Agent shall be obliged to perform such duties and only such duties as are
specifically set forth in this Agreement, the Intercreditor Agreement or in any Second Lien
Collateral Document, and no implied covenants or obligations shall be read into this Agreement, the
Intercreditor Agreement or any Second Lien Collateral Document against the Collateral Agent and the
Collateral Agent shall not be liable with respect to any action taken or omitted by it in
accordance with the direction of the Majority Holders pursuant to Section 3.8.

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          (b) Except as herein otherwise expressly provided, the Collateral Agent shall not be under any
obligation to take any action that is discretionary with the Collateral Agent under the provisions
hereof or under the Intercreditor Agreement or any Second Lien Collateral Document except upon the
written request of the Majority Holders pursuant to Section 3.8. The Collateral Agent shall make
available for inspection and copying by the Indenture Trustee and each New Second Lien
Representative, each certificate or other paper furnished to the Collateral Agent by the Company
under or in respect of this Agreement, the Intercreditor Agreement, any Second Lien Collateral
Document or any of the Trust Estate.

          6.6 Moneys to be Held in Trust.

          All moneys received by the Collateral Agent under or pursuant to any provision of this
Agreement, the Intercreditor Agreement or any Second Lien Collateral Document shall be held in
trust for the purposes for which they were paid or are held.

          6.7 Resignation and Removal of the Collateral Agent.

          (a) The Collateral Agent may at any time, by giving 30 days’ prior written notice to the
Company, the Indenture Trustee and each New Second Lien Representative (if any), resign and be
discharged of the responsibilities hereby created, such resignation to become effective upon the
earlier of: (i) 30 days from the date of such notice and (ii) the appointment of a successor
trustee or trustees by the Company, the acceptance of such appointment by such successor trustee or
trustees, and the approval of such successor trustee or trustees by the Majority Holders; provided
that no resignation shall become effective unless and until a successor trustee has been appointed
as provided herein. The Collateral Agent may be removed at any time and a successor trustee or
trustees appointed by the affirmative vote of the Majority Holders; provided that the Collateral
Agent shall be paid its fees and expenses to the date of removal. If no successor trustee or
trustees shall be appointed and approved within 30 days from the date of the giving of the
aforesaid notice of resignation, the Collateral Agent shall, or the Indenture Trustee, any New
Second Lien Representative or any other Second Lien Secured Party may, apply to any court of
competent jurisdiction to appoint a successor trustee or trustees (which may be an individual or
individuals) to act until such time, if any, as a successor trustee or trustees shall have been
appointed as above provided. Any successor trustee or trustees so appointed by such court shall
immediately and without further act be superseded by any successor trustee or trustees approved by
the Majority Holders as above provided.

          (b) If at any time the Collateral Agent shall resign or be removed or otherwise become
incapable of acting, or if at any time, a vacancy shall occur in the office of the Collateral Agent
for any other cause, a successor trustee or trustees may be appointed by the Majority Holders, and
the powers, duties, authority and title of the predecessor trustee or trustees terminated and
canceled without procuring the resignation of such predecessor trustee or trustees, and without any
other formality (except as may be required by applicable law) than appointment and designation of a
successor trustee or trustees in writing, duly acknowledged, delivered to the predecessor trustee
or trustees and Company, and filed for record in each public office, if any, in which this
Agreement is required to be filed.

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          (c) The appointment and designation referred to in Section 6.7(b) shall, after any required
filing, be full evidence of the right and authority to make the same and of all the facts therein
recited, and this Agreement shall vest in such successor trustee or trustees, without any further
act, deed or conveyance, all of the estate and title of its predecessor, and upon such filing for
record the successor trustee or trustees shall become fully vested with all the estates,
properties, rights, powers, trusts, duties, authority and title of its predecessor; but such
predecessor shall, nevertheless, on the written request of the Majority Holders, the Company or the
successor trustee or trustees, execute and deliver an instrument transferring to such successor or
successors all the estates, properties, rights, powers, trusts, duties, authority and title of such
predecessor or predecessors hereunder and shall deliver all Securities and moneys held by it to
such successor trustee or trustees. Should any deed, conveyance or other instrument in writing
from any Trustor be required by any successor trustee or trustees for more fully and certainly
vesting in such successor trustee or trustees the estates, properties, rights, powers, trusts,
duties, authority and title vested or intended to be vested in the predecessor trustee or trustees,
any and all such deeds, conveyances and other instruments in writing shall, on request of such
successor trustee or trustees, be executed, acknowledged and delivered by such Trustor.

          (d) Any required filing for record of the instrument appointing a successor trustee or
trustees as hereinabove provided shall be at the sole expense of the Trustors. The resignation of
any trustee or trustees and the instrument or instruments removing any trustee or trustees,
together with all other instruments, deeds and conveyances provided for in this Section 6 shall, if
permitted by law, be forthwith recorded, registered and filed by and at the expense of the
Trustors, wherever this Agreement is recorded, registered and filed.

          (e) Notwithstanding anything to the contrary contained in this Agreement, no New Second Lien
Representative (in its capacity as such) may serve as Collateral Agent.

          6.8 Status of Successors to the Collateral Agent.

          Except as permitted by Section 6.7, every successor to the Collateral Agent appointed pursuant
to Section 6.7 shall be a bank or trust in good standing and having power so to act, incorporated
under the laws of the United States or any State thereof or the District of Columbia, and having
its principal corporate trust office within the 48 contiguous States, and shall also have (together
with its corporate affiliates) capital, surplus and undivided profits of not less than
$100,000,000, if there be such an institution with such capital, surplus and undivided profits
willing, qualified and able to accept the trust upon reasonable or customary terms; provided,
however, that the First Lien Collateral Agent (including any replacement agent) shall in no event
be a successor to the Collateral Agent.

          6.9 Merger of the Collateral Agent.

          Any corporation into which the Collateral Agent may be merged, or with which it may be
consolidated, or any corporation resulting from any merger or consolidation to which the Collateral
Agent shall be a party, or any corporation to which the Collateral Agent shall transfer all or
substantially all of its corporate trust business (including the administration of this trust)
shall be Collateral Agent under this Agreement without the execution or filing of any paper or any
further act on the part of the parties hereto.

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          6.10 Co-Trustee, Separate Trustee.

          (a) If at any time or times it shall be necessary or prudent in order to conform to any law of
any jurisdiction in which any of the Second Lien Collateral shall be located, or the Collateral
Agent shall be advised by counsel, satisfactory to it, that it is so necessary or prudent in the
interest of the Second Lien Secured Parties, or the Majority Holders shall in writing so request
the Collateral Agent and the Trustors, or the Collateral Agent shall deem it desirable for its own
protection in the performance of its duties hereunder, the Collateral Agent and the Trustors shall
execute and deliver all instruments and agreements necessary or proper to constitute another bank
or trust company, or one or more persons approved by the Collateral Agent and the Trustors, either
to act as co-trustee or co-trustees of all or any of the Second Lien Collateral, jointly with the
Collateral Agent originally named herein or any successor or successors, or to act as separate
trustee or trustees of any such property. In the event the Trustors shall not have joined in the
execution of such instruments and agreements within 30 days after the receipt of a written request
from the Collateral Agent so to do, or in case an Actionable Default shall have occurred and be
continuing, the Collateral Agent may act under the foregoing provisions of this Section 6.10
without the concurrence of the Trustors, and the Trustors hereby appoint the Collateral Agent as
its agent and attorney to act for it under the foregoing provisions of this Section 6.10 in either
of such contingencies.

          (b) Every separate trustee and every co-trustee, other than any trustee that may be appointed
as successor to the Collateral Agent, shall, to the extent permitted by law, be appointed and act
and be such, subject to the following provisions and conditions, namely:

          (i) all rights, powers, duties and obligations conferred upon the Collateral
Agent in respect of the custody, control and management of moneys, papers or Securities
shall be exercised solely by the Collateral Agent, or its successors hereunder;

          (ii) all rights, powers, duties and obligations conferred or imposed upon the
Collateral Agent hereunder shall be conferred or imposed and exercised or performed by the
Collateral Agent and such separate trustee or separate trustees or co-trustee or
co-trustees, jointly, as shall be provided in the instrument appointing such separate
trustee or separate trustees or co-trustee or co-trustees, except to the extent that under
any law of any jurisdiction in which any particular act or acts are to be performed the
Collateral Agent shall be incompetent or unqualified to perform such act or acts, in which
event such rights, powers, duties and obligations shall be exercised and performed by such
separate trustee or separate trustees or co-trustee or co-trustees;

          (iii) no power given hereby to, or that it is provided hereby may be
exercised by, any such co-trustee or co-trustees or separate trustee or separate trustees,
shall be exercised hereunder by such co-trustee or co-trustees or separate trustee or
separate trustees, except jointly with, or with the consent in writing of, the Collateral
Agent, anything herein contained to the contrary notwithstanding;

          (iv) no trustee hereunder shall be personally liable by reason of any act or
omission of any other trustee hereunder; and

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          (v) the Trustors and the Collateral Agent, at any time by an instrument in
writing, executed by them, may accept the resignation of or remove any such separate trustee
or co-trustee, and in that case, by an instrument in writing executed by the Trustors and
the Collateral Agent jointly, may appoint a successor to such separate trustee or
co-trustee, as the case may be, anything herein contained to the contrary notwithstanding.
In the event that the Trustors shall not have joined in the execution of any such instrument
within ten days after the receipt of a written request from the Collateral Agent so to do,
or in case an Actionable Default shall have occurred and be continuing, the Collateral Agent
shall have the power to accept the resignation of or remove any such separate trustee or
co-trustee and to appoint a successor without the concurrence of the Trustors, the Trustors
hereby appointing the Collateral Agent its agent and attorney to act for it in such
connection in either of such contingencies. In the event that the Collateral Agent shall
have appointed a separate trustee or separate trustees or co-trustee or co-trustees as above
provided, it may at any time, by an instrument in writing, accept the resignation of or
remove any such separate trustee or co-trustee, the successor to any such separate trustee
or co-trustee to be appointed by the Trustors and the Collateral Agent, or by the Collateral
Agent alone, as provided in this Section 6.10.

SECTION 7

Release of Second Lien Collateral.

          7.1 Conditions to Release; Release Procedure.

          (a) Subject to Section 7.1(c), the Collateral Agent’s Liens upon the Second Lien Collateral
will be released:

          (i) in whole, upon (A) payment in full and discharge of all outstanding Notes (or upon
a defeasance or discharge in accordance with the Indenture) and all outstanding indebtedness
in respect of each New Second Lien Facility (if any) (or upon a defeasance or discharge of
each such New Second Lien Facility in accordance with the applicable New Second Lien
Documents) and all other Second Lien Obligations (in each case other than any
indemnification obligations for which no claim or demand for payment, whether oral or
written, has been made) and (B) termination or expiration of all commitments to extend
credit under all Second Lien Documents; provided that the Company shall have delivered an
Officer’s Certificate to the Collateral Agent certifying that the conditions described in
this clause (i) have been met and that such release of the Second Lien Collateral is
permitted under, and does not violate the terms of, any Second Lien Document;

          (ii) as to any Second Lien Collateral that is sold, transferred or otherwise disposed
of by any Trustor to a Person that is not (either before or after such sale, transfer or
disposition) the Company or a Restricted Subsidiary in a transaction or other circumstance
that is permitted by all of the Second Lien Documents, automatically at the time of such
sale, transfer or other disposition (but excluding any transaction subject to Article 5 of
the Indenture where the recipient is required to become the obligor on the Notes or a
Guarantor or any similar provision contained in any other Second Lien

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Document) to the extent of the interest sold, transferred or otherwise disposed of; provided
that, to the extent provided in the Second Lien Collateral Documents, the Collateral Agent’s
Liens will attach to the proceeds received in respect of any such sale, transfer or other
disposition, subject to the priorities set forth in the Intercreditor Agreement and Section
4.4;

          (iii) as to a release of any portion of the Second Lien Collateral (which may include
all or substantially all of the Second Lien Collateral), with respect to such Second Lien
Collateral, if (A) consent to the release of such Liens of the Collateral Agent on such
Second Lien Collateral has been given by (i) the requisite holders of Notes (or the
Indenture Trustee, on behalf of the requisite holders of Notes) and (ii) the requisite
holders of indebtedness in respect of each other Series of Second Lien Obligations, in each
case as permitted by, and in accordance with, the applicable Second Lien Documents and (B)
the Company shall have delivered an Officer’s Certificate to the Collateral Agent certifying
that the conditions described in this clause (iii) have been met and that such release of
the Second Lien Collateral is permitted under, and does not violate the terms of, any Second
Lien Document; provided, that the Collateral Agent’s Liens on any such Second Lien
Collateral securing a particular Series of New Second Lien Obligations shall be released
with respect to such Series if (A) consent to the release of such Liens has been given by
the requisite holders of such Series of New Second Lien Obligations (determined under the
New Second Lien Documents governing such Series) and (B) the Company shall have delivered an
Officer’s Certificate to the Collateral Agent certifying that the conditions described in
this proviso to clause (iii) have been met and that such release of the Second Lien
Collateral is permitted under, and does not violate the terms of, any Second Lien Document;

          (iv) as and when required in accordance with the Intercreditor Agreement; and

          (iv) upon the Incurrence of Debt (as defined in the Indenture) permitted by clause (ix)
of Section 4.06(b) of the Indenture that is secured by a Lien of the type described in
clause (14) of the definition of “Permitted Liens” in the Indenture, but only (x) to the
extent that the terms of such Debt (or of the Lien securing such Debt) prohibit the
existence of a junior Lien on the applicable property and (y) if any Lien on the applicable
property securing any First Lien Obligations shall have also been released.

          (b) Subject to Section 7.1(c), the Collateral Agent’s Liens on the Second Lien Collateral
securing the Second Lien Note Obligations only (and not any other Second Lien Obligations) will be
released upon payment in full and discharge of all outstanding Notes (or upon a defeasance or
discharge in accordance with the Indenture) and all other Second Lien Note Obligations (other than
any indemnification obligations for which no claim or demand for payment, whether oral or written,
has been made), and thereafter the rights of the holders of the Notes and the Second Lien Note
Obligations to the benefit and proceeds of the Collateral Agent’s Liens on the Second Lien
Collateral will terminate and be discharged; provided that the Company shall have
delivered an Officer’s Certificate to the Collateral Agent certifying that the conditions described
in this clause (b) have been met and that such release of the Second Lien Collateral is permitted
under, and does not violate the terms of, any Second Lien Document;

30

 

          (c) All of the Second Lien Collateral shall not be released pursuant to Section 7.1(a)(i),
7.1(a)(iii) or 7.1(b) unless and until all Collateral Agent’s Fees (other than any indemnification
obligations for which no claim or demand for payment, whether oral or written, has been made) shall
have been paid in full.

          (d) The Second Lien Collateral of a Guarantor shall be automatically released upon the release
of such Guarantor’s obligations under its Note Guaranty as provided in Section 13.09 of the
Indenture. If at any time (x) no Second Lien Note Obligations are outstanding (other than any
indemnification obligations for which no claim or demand for payment, whether oral or written, has
been made) and (y) New Second Lien Obligations are outstanding (or commitments to extend credit
under any New Second Lien Facility are in effect), the Second Lien Collateral of a Subsidiary of
the Company that is a guarantor with respect to a New Second Lien Facility shall be released with
respect to the applicable Series of New Second Lien Obligations upon the release of such
Subsidiary’s guarantee in accordance with the Second Lien Documents governing such Series.

          (e) If the Second Lien Collateral shall at any time include any Equity Interests of a
Subsidiary of the Company that is not a Material Subsidiary, and if such Equity Interests are not
otherwise required to be Second Lien Collateral under the terms of any Second Lien Documents, then
the Collateral Agent’s Liens on such Equity Interests shall be automatically released.

          (f) Upon the release of the Second Lien Collateral, or any portion thereof, in each case in
accordance with the provisions hereof (other than any Second Lien Collateral that is released with
respect to less than all of the Second Lien Obligations), all right, title and interest of the
Collateral Agent in, to and under the Trust Estate in respect of the Second Lien Collateral or
portion thereof so released, and the Second Lien Collateral Documents in respect of such Second
Lien Collateral, shall terminate and shall revert to the respective Trustors, their successors and
assigns, and the estate, right, title and interest of the Collateral Agent therein shall thereupon
cease, determine and become void; and in such case (including a release with respect to less than
all of the Second Lien Obligations), upon the written request of the respective Trustors, their
successors or assigns, and at the cost and expense of the Trustors, their successors or assigns,
the Collateral Agent shall execute in respect of the Second Lien Collateral so released, a
satisfaction of the Second Lien Collateral Documents with respect to such Second Lien Collateral
and such instruments as are necessary or desirable to terminate and remove of record any documents
constituting public notice of the Second Lien Collateral Documents and the security interests and
assignments granted thereunder, in each case with respect to such Second Lien Collateral, and shall
assign and transfer, or cause to be assigned and transferred, and shall deliver or cause to be
delivered to the Trustors, in respect of the Second Lien Collateral so released, all property,
including all moneys, instruments and Securities (if any), of the Trustors then held by the
Collateral Agent. The cancellation and satisfaction of the Second Lien Collateral Documents shall
be without prejudice to the rights of the Collateral Agent or any successor trustee to charge and
be reimbursed for any expenditures that it may thereafter incur in connection therewith.

31

 

SECTION 8

Miscellaneous.

          8.1 Amendments, Supplements and Waivers.

          (a) Subject to the terms of the Intercreditor Agreement, with the written consent of the
Indenture Trustee and each New Second Lien Representative (if any) (in each case given in
accordance with (x) the requirements (including the amendment provisions) of the Second Lien
Documents with respect to the applicable Series of Second Lien Obligations or (y) Section 8.18 of
this Agreement (if applicable)), the Collateral Agent and the Trustors may, from time to time,
enter into written supplements, amendments, restatements, waivers or other modifications to this
Agreement or any Second Lien Collateral Document for the purpose of adding to, amending, waiving or
otherwise modifying any provision of this Agreement or any Second Lien Collateral Document or
changing the rights of the Collateral Agent, the Second Lien Secured Parties or the Trustors
hereunder or thereunder; provided, however, that:

          (i) no such supplement, amendment, restatement, waiver or other modification shall,
without the written consent of the Collateral Agent, (x) amend, modify or waive any
provision of Section 6 or alter the duties or obligations of the Collateral Agent hereunder
or under any Second Lien Collateral Document or (y) amend or modify the definition of
“Majority Holders” set forth in Section 1.2;

          (ii) any such supplement, amendment, restatement, waiver or other modification that
would only adversely affect the Second Lien Obligations of a particular Series shall require
only the written consent of the Representative with respect to such Series (given in
accordance with the requirements (including the amendment provisions if applicable) of the
Second Lien Documents with respect to such Series); and

          (iii) any such supplement, amendment, restatement, waiver or other modification that
has the effect of releasing Second Lien Collateral from the Liens granted pursuant to the
Second Lien Collateral Documents other than as provided for in Section 7.1 shall be
effective only if made in accordance with the requirements of, and the amendment provisions
set forth in, the Second Lien Documents;

provided, however, that notwithstanding the foregoing, (x) no Trustor shall have any right to
consent to or approve any supplement, amendment, restatement, waiver or other modification of any
provision of this Agreement that is solely and exclusively an intercreditor matter that affects the
Second Lien Secured Parties and does not adversely affect the rights or obligations of any Trustor
(including, without limitation, Sections 2.4 and 4.4), but the Collateral Agent shall provide a
copy of any such executed amendment, restatement, supplement, modification or waiver to the
Trustors and (y) without the consent of any Second Lien Secured Party, any Second Lien Collateral
Document may be supplemented, amended, restated, waived or otherwise modified (A) to the extent
(and only to the extent) required (i) by the Intercreditor Agreement or (ii) to allow for any
release of Second Lien Collateral that is expressly permitted by Section 7.1 and (B) in the
following circumstances:

32

 

     (1) to cure any ambiguity, defect or inconsistency in this Agreement, the
Second Lien Security Agreement or any other agreement, document or instrument
pursuant to which a Lien is granted securing any Second Lien Obligations or under
which rights or remedies with respect to such Liens are governed;

     (2) to comply with (i) Article 5 of the Indenture or (ii) the comparable
provisions of any New Second Lien Documents; provided, in the case of clause (ii),
that the applicable supplement, amendment, restatement, waiver or other modification
does not adversely affect the Second Lien Note Obligations;

     (3) to comply with any requirements of the Securities and Exchange Commission
in connection with the qualification under the Trust Indenture Act of 1939 of (i)
the Indenture or (ii) any New Second Lien Documents; provided, in the case of clause
(ii), that the applicable supplement, amendment, restatement, waiver or other
modification does not adversely affect the Second Lien Note Obligations;

     (4) to evidence and provide for the acceptance of an appointment by a successor
Indenture Trustee or Collateral Agent;

     (5) to conform the text of this Agreement, the Second Lien Security Agreement
or any other agreement, document or instrument pursuant to which a Lien is granted
securing any Second Lien Obligations or under which rights or remedies with respect
to such Liens are governed to any provision of the “Description of Notes” section of
the offering memorandum dated February 24, 2010 relating to the offering by the
Company of the Notes; or

     (6) to make any other change that does not materially and adversely affect the
rights of any Second Lien Secured Party.

          Any such supplement, amendment, restatement, waiver or other modification shall be binding
upon the Trustors, the Second Lien Secured Parties and the Collateral Agent and their respective
successors. The Collateral Agent shall not enter into any such supplement, amendment, restatement,
waiver or other modification unless it shall have received (x) written authorization from the
Indenture Trustee and each New Second Lien Representative to enter into same, which authorization
shall include a statement to the effect that the requisite holders of the applicable Series of
Second Lien Obligations (determined under the Second Lien Documents governing such Series) have
authorized the entry into same and (y) an Officer’s Certificate to the effect that such supplement,
amendment, restatement, waiver or other modification will not result in a breach of any provision
or covenant contained in the Indenture, any other Second Lien Document, the Intercreditor Agreement
or this Agreement.

          (b) Notwithstanding the foregoing, without the consent of any Second Lien Secured Party, the
Collateral Agent and the Trustors, at any time and from time to time, may enter into additional
pledge or Second Lien Collateral Documents or one or more agreements

33

 

supplemental hereto or to any Second Lien Collateral Document, in form satisfactory to the
Collateral Agent:

          (i) to add to the covenants of the Trustors, for the benefit of the Second
Lien Secured Parties, or to surrender any right or power herein conferred upon the Trustors;

          (ii) to pledge or grant a security interest in any property or assets that
are required to be pledged, or in which a security interest is required to be granted, to
the Collateral Agent pursuant to any Second Lien Collateral Document or any other applicable
Second Lien Document; and

          (iii) to cure any ambiguity or omission, to correct or to supplement any
provision herein or in any Second Lien Collateral Document that may be defective or
inconsistent with any other provision herein or therein, or to make any other provisions
with respect to matters or questions arising hereunder or under any Second Lien Collateral
Document that shall not be inconsistent with any provision hereof or of any Second Lien
Collateral Document.

          8.2 Voting.

          (a) In connection with any matter under this Agreement requiring a vote of holders of Second
Lien Obligations at any time, each Series of Second Lien Obligations will cast its votes in
accordance with the Second Lien Note Documents or the New Second Lien Documents, as applicable,
governing such Series of Second Lien Obligations and as contemplated by the definition of Majority
Holders hereunder. Following and in accordance with the outcome of the applicable vote under its
Second Lien Note Documents or New Second Lien Documents, as applicable, the Indenture Trustee and
the New Second Lien Representative with respect to each Series of New Second Lien Obligations will
cast all of its votes as a block in respect of any vote under this Agreement.

          (b) For the avoidance of doubt, for purposes of determining at any time whether the “Majority
Holders” have given any instruction or taken any action hereunder (or consented to the taking of
any action hereunder), the following rules shall apply: (i) the Representative with respect to each
Series of Second Lien Obligations shall be deemed to hold the principal amount of indebtedness
constituting Second Lien Obligations then outstanding under such Series of Second Lien Obligations,
(ii) each Representative shall, with respect to the principal amount of indebtedness constituting
Second Lien Obligations deemed held by such Representative pursuant to the preceding clause (i),
provide any such instruction to, or shall instruct the Collateral Agent to take such action, in
accordance with voting provisions set forth in the Second Lien Documents with respect to the
applicable Series of Second Lien Obligations and subject to the proviso at the end of the
definition of “Majority Holders” and to the last sentence of such definition and (iii) based on the
foregoing procedures, the Collateral Agent shall determine (which determination shall be conclusive
absent manifest error), whether the Second Lien Secured Parties that have given such instruction or
taken such action (or consented to the taking of such action) constitute the “Majority Holders” as
defined in the definition thereof.

34

 

          (c) Any direction in writing delivered to the Collateral Agent by or with the written consent
of the Majority Holders (a) shall set forth the aggregate amount of Second Lien Obligations owed by
the Trustors to the Second Lien Secured Parties represented by the Indenture Trustee and by each
New Second Lien Representative under the Second Lien Note Documents or the applicable New Second
Lien Documents, as the case may be, calculated as of the date of determination and in accordance
with the definition of Majority Holders hereunder, and (b) shall be binding upon all of the Second
Lien Secured Parties, unless the matter which is the subject of the applicable vote requires
pursuant to the terms hereof the consent of all Second Lien Secured Parties.

          8.3 Notices.

          All notices, requests, demands and other communications provided for or permitted hereunder
shall be in writing and shall be sent by mail, overnight courier or hand delivery:

          (a) If to any Trustor, to it at the address of the Company at: 343 State Street, Rochester,
New York 14650, Attention: General Counsel (facsimile: (585) 724-9549), or at such other address as
shall be designated by it in a written notice to the Collateral Agent.

          (b) If to the Collateral Agent, to it at its address at: 101 Barclay Street, 8W, New York, New
York 10286, Attention: Corporate Trust Administration (Eastman Kodak Company Collateral Trust
Agreement) (facsimile: (732) 667-9185), or at such other address as shall be designated by it in a
written notice to the Company.

          (c) If to the Indenture Trustee, to it at its address at: 101 Barclay Street, 8W, New York,
New York 10286, Attention: Corporate Trust Administration (Eastman Kodak Company 2010 Indenture)
(facsimile: (732) 667-9185), or at such other address as shall be designated by it in writing to
the Collateral Agent.

          (d) If to any New Second Lien Representative, to it at its address as designated in the
Collateral Trust Joinder to which it is a party, or at such other address as shall be designated by
it in writing to the Collateral Agent.

All such notices, requests, demands and communications shall be deemed to have been duly given or
made, when delivered by hand, the Business Day following deposit with an overnight courier, or five
Business Days after being deposited in the mail, postage prepaid, or when telecopied or
electronically transmitted, receipt acknowledged; provided, however, that any notice, request,
demand or other communication to the Collateral Agent shall not be effective until received.

          8.4 Headings.

          Section, subsection and other headings used in this Agreement are for convenience only and
shall not affect the construction of this Agreement.

35

 

          8.5 Severability.

          Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall
not invalidate the remaining provisions hereof, and any such prohibition or unenforceability in any
jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

          8.6 Treatment of Payee or Indorsee by Collateral Agent.

          (a) The Collateral Agent may treat the registered holder of any registered note, and the payee
or indorsee of any note or debenture that is not registered, as the absolute owner thereof for all
purposes hereunder and shall not be affected by any notice to the contrary, whether such promissory
note or debenture shall be past due or not.

          (b) Any person, firm, corporation or other entity that shall be designated as the duly
authorized representative of one or more Second Lien Secured Parties to act as such in connection
with any matters pertaining to this Agreement, the Intercreditor Agreement or any Second Lien
Collateral Document or the Second Lien Collateral shall present to the Collateral Agent such
documents, including, without limitation, opinions of counsel, as the Collateral Agent may
reasonably require, in order to demonstrate to the Collateral Agent the authority of such person,
firm, corporation or other entity to act as the representative of such Second Lien Secured Parties.

          8.7 Dealings with the Trustors.

          (a) Upon any application or demand by any Trustor to the Collateral Agent to take or permit
any action under any of the provisions of this Agreement, such Trustor shall furnish to the
Collateral Agent an Officer’s Certificate stating that all conditions precedent, if any, provided
for in this Agreement relating to the proposed action have been complied with, except that in the
case of any such application or demand as to which the furnishing of such documents is specifically
required by any provision of this Agreement relating to such particular application or demand, no
additional certificate or opinion need be furnished.

          (b) Any opinion of counsel may be based, insofar as it relates to factual matters, upon an
Officer’s Certificate filed with the Collateral Agent.

          8.8 Claims Against the Collateral Agent.

          Any claims or causes of action that the holders of any Second Lien Obligations, the Indenture
Trustee, any New Second Lien Representative or any Trustor shall have against the Collateral Agent
shall survive the termination of this Agreement and the release of the Second Lien Collateral
hereunder.

          8.9 Binding Effect; Successors and Assigns.

          This Agreement shall be binding upon and inure to the benefit of each of the Second Lien
Secured Parties, and their respective successors and assigns, and nothing herein or in any Second
Lien Collateral Document is intended or shall be construed to give any other

36

 

person any right, remedy or claim under, to or in respect of this Agreement, any Second Lien
Collateral Document, the Second Lien Collateral or the Trust Estate. All obligations of the
Trustors hereunder will inure to the sole and exclusive benefit of, and be enforceable by, the
Collateral Agent, the Indenture Trustee, each New Second Lien Representative and each present and
future holder of Second Lien Obligations, each of whom will be entitled to enforce this Agreement
as a third-party beneficiary hereof, and all of their respective successors and assigns.

          8.10 Governing Law.

          This Agreement shall be governed by, and construed and interpreted in accordance with, the
laws of the State of New York and any action alleging any breach by the Collateral Agent of its
duties hereunder, whether by act or omission or anticipatory, shall be prosecuted only in the
courts of the State of New York.

          8.11 Consent to Jurisdiction.

          All judicial proceedings brought against any party hereto arising out of or relating to this
Agreement, the Intercreditor Agreement or any of the other Second Lien Collateral Documents may be
brought in any state or federal court of competent jurisdiction in the State, County and City of
New York. By executing and delivering this Agreement, each Trustor, for itself and in connection
with its properties, irrevocably:

          (a) accepts generally and unconditionally the nonexclusive jurisdiction and venue of such
courts;

          (b) waives any defense of forum non conveniens;

          (c) agrees that service of all process in any such proceeding in any such court may be made by
registered or certified mail, return receipt requested, to such party at its address provided in
accordance with Section 8.3;

          (d) agrees that service as provided in clause (c) above is sufficient to confer personal
jurisdiction over such party in any such proceeding in any such court and otherwise constitutes
effective and binding service in every respect; and

          (e) agrees each party hereto retains the right to serve process in any other manner permitted
by law or to bring proceedings against any party in the courts of any other jurisdiction.

          8.12 Waiver of Jury Trial.

          Each party to this Agreement waives its rights to a jury trial of any claim or cause of action
based upon or arising under this Agreement, the Intercreditor Agreement or any of the Second Lien
Collateral Documents or any dealings between them relating to the subject matter of this Agreement
or the intents and purposes of the Intercreditor Agreement or the Second Lien Collateral Documents.
The scope of this waiver is intended to be all-encompassing of any and all disputes that may be
filed in any court and that relate to the subject matter of this Agreement, the Intercreditor
Agreement or the Second Lien Collateral Documents, including contract claims,

37

 

tort claims, breach of duty claims and all other common law and statutory claims. Each party
to this Agreement acknowledges that this waiver is a material inducement to enter into a business
relationship, that each party hereto has already relied on this waiver in entering into this
Agreement, and that each party hereto will continue to rely on this waiver in its related future
dealings. Each party hereto further warrants and represents that it has reviewed this waiver with
its legal counsel and that it knowingly and voluntarily waives its jury trial rights following
consultation with legal counsel. This waiver is irrevocable, meaning that it may not be modified
either orally or in writing (other than by a mutual written waiver specifically referring to this
Section 8.12 and executed by each of the parties hereto), and this waiver will apply to any
subsequent amendments, renewals, supplements or modifications of or to this Agreement, the
Intercreditor Agreement or any of the Second Lien Collateral Documents or to any other documents or
agreements relating thereto. In the event of litigation, this Agreement may be filed as a written
consent to a trial by the court.

          8.13 Force Majeure.

          In no event shall the Collateral Agent be responsible or liable for any failure or delay in
the performance of its obligations hereunder arising out of or caused by, directly or indirectly,
forces beyond its control, including, without limitation, strikes, work stoppages, accidents, acts
of war or terrorism, civil or military disturbances, nuclear or natural catastrophes or acts of
God, and interruptions, loss or malfunctions of utilities, communications or computer (software and
hardware) services; it being understood that the Collateral Agent shall use reasonable efforts
which are consistent with accepted practices in the banking industry to resume performance as soon
as practicable under the circumstances.

          8.14 Consequential Damages.

          In no event shall the Collateral Agent be responsible or liable for special, indirect, or
consequential loss or damage of any kind whatsoever (including, but not limited to, loss of profit)
irrespective of whether the Collateral Agent has been advised of the likelihood of such loss or
damage and regardless of the form of action.

          8.15 Intercreditor Agreement.

          Notwithstanding anything herein to the contrary, the liens and security interest granted to
the Collateral Agent, for the benefit of the Second Lien Secured Parties, pursuant to this
Agreement and the exercise of any right or remedy by the Collateral Agent, for the benefit of the
Second Lien Secured Parties, hereunder are subject to the provisions of the Intercreditor
Agreement. In the event of any conflict between the terms of the Intercreditor Agreement and this
Agreement with respect to the Liens upon the Common Collateral or the exercise of any right or
remedy by the Collateral Agent with respect to the Common Collateral, the terms of the
Intercreditor Agreement shall govern.

          If at any time the Intercreditor Agreement ceases to be in effect because First Lien
Obligations are no longer outstanding or no longer secured by Liens on all or a portion of the
Collateral and, thereafter, the Company or any other Trustor subsequently incurs indebtedness for
borrowed money that is to be secured by first-priority liens on assets of the Company or any

38

 

other Trustor of the type constituting Second Lien Collateral (which indebtedness and
first-priority liens are permitted under the Second Lien Documents), the Collateral Agent is hereby
authorized, directed and empowered to enter into a new intercreditor agreement that provides the
representative under such indebtedness substantially the same rights and powers as afforded the
First Lien Representative (as defined in the Intercreditor Agreement) under the Intercreditor
Agreement. The Collateral Agent shall be entitled to receive, and to conclusively rely upon, an
Officer’s Certificate to the effect that such new intercreditor agreement complies with the
provisions of the immediately preceding sentence of this Section 8.15.

          8.16 Counterparts.

          This Agreement may be executed in separate counterparts, each of which shall be an original
and all of which taken together shall constitute one and the same instrument.

          8.17 Incorporation by Reference.

          In connection with its execution and acting as agent or trustee (as applicable) hereunder,
each of the Collateral Agent, the Indenture Trustee and any New Second Lien Representative are
entitled to all rights, privileges, protections, immunities, benefits and indemnities provided to
them under the Second Lien Collateral Documents and any other applicable Second Lien Documents.

          8.18 Consent to Certain Amendments.

          Each Second Lien Secured Party hereby consents to, and authorizes and directs its applicable
Representative and the Collateral Agent (including in its capacity as Second Lien Representative
(as defined in the Intercreditor Agreement)) to enter into, such amendments, supplements or other
modifications to the Intercreditor Agreement, this Agreement and the other Second Lien Collateral
Documents as are contemplated by the last paragraph of Section 4(f) of the Second Lien Security
Agreement, solely for the purpose of enabling the Company to comply with its obligations under such
Section 4(f).

          For avoidance of doubt, the foregoing consents, authorizations and directions shall not be
applicable to any amendment, supplement or other modification that would materially and adversely
affect any Second Lien Obligations.

[Remainder of Page Intentionally Left Blank]

39

 

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

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Trustee under the Indenture

 	 
	 	By:  	/s/ Franca M. Ferrera
 	 
	 	 	Name:  	Franca M. Ferrera 	 
	 	 	Title:  	Senior Associate 	 
	 
	 	THE BANK OF NEW YORK MELLON,

as Collateral Agent

 	 
	 	By:  	/s/ Franca M. Ferrera
 	 
	 	 	Name:  	Franca M. Ferrera 	 
	 	 	Title:  	Senior Associate 	 
	 

 

	 	 	 	 	 
	 	EASTMAN KODAK COMPANY 

 	 
	 	By:  	/s/ William G. Love
 	 
	 	 	Name:  	William G. Love 	 
	 	 	Title:  	Treasurer 	 
	 
	 	CREO MANUFACTURING AMERICA LLC

KODAK AVIATION LEASING LLC

 	 
	 	By:  	/s/ William G. Love
 	 
	 	 	Name:  	William G. Love 	 
	 	 	Title:  	Manager 	 
	 
	 	EASTMAN GELATINE CORPORATION

EASTMAN KODAK INTERNATIONAL 
CAPITAL COMPANY, INC.

FAR EAST DEVELOPMENT LTD.

FPC INC.

KODAK (NEAR EAST), INC.

KODAK AMERICAS, LTD.

KODAK IMAGING NETWORK, INC.

KODAK PORTUGUESA LIMITED

KODAK REALTY, INC.

LASER EDIT, INC.

LASER-PACIFIC MEDIA CORPORATION

PACIFIC VIDEO, INC.

PAKON, INC.

QUALEX INC.

 	 
	 	By:  	/s/ William G. Love
 	 
	 	 	Name:  	William G. Love 	 
	 	 	Title:  	Treasurer 	 
	 
	 	KODAK PHILIPPINES, LTD.

NPEC INC.

 	 
	 	By:  	/s/ William G. Love
 	 
	 	 	Name:  	William G. Love 	 
	 	 	Title:  	Assistant Treasurer 	 
	 

 

Exhibit A to

Collateral Trust Agreement

[FORM OF] SUPPLEMENT TO COLLATERAL TRUST AGREEMENT

          Reference is made to the Collateral Trust Agreement, dated as of March 5, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Collateral Trust Agreement”),
among Eastman Kodak Company, a New Jersey corporation, (the “Company”), the Guarantors listed on
the signature pages thereto (the “Guarantors”), The Bank of New York Mellon, as Indenture Trustee,
The Bank of New York Mellon, as Collateral Agent, and each other Person party thereto from time to
time. Terms defined in the Collateral Trust Agreement and not otherwise defined herein are as
defined in the Collateral Trust Agreement.

          This Supplement to Collateral Trust Agreement, dated as of                     , 20      (this “Supplement
to Trust Agreement”), is being delivered pursuant to Section 5.7 of the Collateral Trust Agreement.

          The undersigned,                     , a                      (the “Additional Trustor”) hereby agrees to become a
party to the Collateral Trust Agreement as a Trustor thereunder, for all purposes thereof on the
terms set forth therein, and to be bound by all of the terms and provisions of the Collateral Trust
Agreement as fully as if the Additional Trustor had executed and delivered the Collateral Trust
Agreement as of the date thereof.

          This Supplement to Collateral Trust Agreement may be executed in two or more counterparts,
each of which shall constitute an original but all of which when taken together shall constitute
one contract.

          This Supplement to Collateral Trust Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.

[Signature Pages Follow]

 

 

          IN WITNESS WHEREOF, the Additional Trustor has caused this Supplement to Collateral Trust
Agreement to be duly executed by its authorized representative as of the day and year first above
written.

	 	 	 	 	 
	 	[ADDITIONAL TRUSTOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

          The Collateral Agent acknowledges receipt of this Supplement to Collateral Trust Agreement and
agrees to act as Collateral Agent with respect to the Second Lien Collateral pledged by the
Additional Trustor, as of the day and year first above written.

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

Exhibit B to

Collateral Trust Agreement

[FORM OF] JOINDER TO COLLATERAL TRUST AGREEMENT

          Reference is made to
the Collateral Trust Agreement, dated as of March 5, 2010 (as amended,
restated, supplemented or otherwise modified from time to time, the “Collateral Trust Agreement”),
among Eastman Kodak Company, a New Jersey corporation (the “Company”), the Guarantors listed on the
signature pages thereto (the “Guarantors”), The Bank of New York Mellon, as Indenture Trustee, The
Bank of New York Mellon, as Collateral Agent, and each other Person party thereto from time to
time. Terms defined in the Collateral Trust Agreement and not otherwise defined herein are as
defined in the Collateral Trust Agreement.

          This Joinder to Collateral
Trust Agreement, dated as of                             , 20      (this “Collateral Trust
Joinder”), is being delivered pursuant to Section 2.3 of the Collateral Trust Agreement as a
condition precedent to the incurrence of the indebtedness for which the undersigned is acting as
agent being entitled to the benefits of being Second Lien Obligations under the Collateral Trust
Agreement.

          1. Joinder. The undersigned,  
               
                     , a                     , (the “New
Representative”) as [trustee, administrative agent] under that certain [describe New Second Lien
Facility] (the “New Second Lien Facility”) hereby agrees to become party as an New Second Lien
Representative and a Second Lien Secured Party under the Collateral Trust Agreement for all
purposes thereof on the terms set forth therein, and to be bound by the terms, conditions and
provisions of the Collateral Trust Agreement as fully as if the undersigned had executed and
delivered the Collateral Trust Agreement as of the date thereof.

          2. Lien Sharing and Priority Confirmation. The undersigned New Representative, on
behalf of itself and each holder of obligations in respect of the New Second Lien Facility
(together with the New Second Lien Representative, the “New Secured Parties”), hereby agrees, for
the enforceable benefit of all existing and future New Second Lien Representative, each existing
and future Representative and each existing and future Second Lien Secured Party, and as a
condition to being treated as Second Lien Obligations under the Collateral Trust Agreement that:

          (a) all Second Lien Obligations will be and are secured equally and ratably by all
Liens granted to the Collateral Agent, for the benefit of the Second Lien Secured Parties,
which are at any time granted by any Trustor to secure any Second Lien Obligations whether
or not upon property otherwise constituting collateral for such New Second Lien Facility,
and that all Liens granted pursuant to the Second Lien Collateral Documents will be
enforceable by the Collateral Agent for the benefit of all holders of Second Lien
Obligations equally and ratably as contemplated by the Collateral Trust Agreement;

          (b) the New Representative and each other New Secured Party is bound by the terms,
conditions and provisions of the Collateral Trust Agreement, the Intercreditor Agreement and
the Second Lien Collateral Documents, including, without

 

 

limitation, the provisions relating to the ranking of Liens and the order of
application of proceeds from the enforcement of Liens; and

          (c) the New Representative shall perform its obligations under the Collateral Trust
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents.

          3. Appointment of Collateral Agent. The New Representative, on behalf of itself and
the New Secured Parties, hereby (a) irrevocably appoints [The Bank of New York Mellon]1
as Collateral Agent for purposes of the Collateral Trust Agreement, the Intercreditor Agreement and
the Second Lien Collateral Documents, (b) irrevocably authorizes the Collateral Agent to take such
actions on its behalf and to exercise such powers as are delegated to the Collateral Agent in the
Collateral Trust Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents,
together with such actions and powers as are reasonably incidental thereto, and authorizes the
Collateral Agent to execute any Second Lien Collateral Documents on behalf of all Second Lien
Secured Parties and to take such other actions to maintain and preserve the security interests
granted pursuant to any Second Lien Collateral Documents, and (c) acknowledges that it has received
and reviewed the Collateral Trust Agreement, the Intercreditor Agreement and the Second Lien
Collateral Documents and agrees to be bound by the terms thereof. The New Representative, on
behalf of the New Secured Parties, and the Collateral Agent, on behalf of the existing Second Lien
Secured Parties, each hereby acknowledges and agrees that the Collateral Agent in its capacity as
such shall be agent on behalf of the New Representative and on behalf of all other Second Lien
Secured Parties.

          4. Consent. The New Representative, on behalf of itself and the New Secured Parties,
consents to and directs the Collateral Agent to perform its obligations under the Collateral Trust
Agreement, the Intercreditor Agreement and the Second Lien Collateral Documents.

          5. Authority as Agent. The New Representative represents, warrants and acknowledges
that it has the authority to bind each of the New Secured Parties to the Collateral Trust Agreement
and the Intercreditor Agreement and such New Secured Parties are hereby bound by the terms,
conditions and provisions of the Collateral Trust Agreement and the Intercreditor Agreement,
including, without limitation, the provisions relating to the ranking of Liens and the order of
application of proceeds from the enforcement of Liens.

          6. New Second Lien Representative. The New Second Lien Representative in respect of
the New Second Lien Facility is [insert name of New Representative]. The address of the New Second
Lien Representative in respect of the New Second Lien Facility for purposes of all notices and
other communications hereunder and under the Collateral Trust Agreement and the Intercreditor
Agreement is          
           ,                     , Attention of                      (Facsimile No.         
            , electronic
mail address:          
           ).

 

			
	1	 	If a successor Collateral Agent has been
appointed, the name of such successor should be filled in instead.

 

 

          7. Officer’s Certificate. Each of the Trustors hereby certifies that the Trustors
have previously delivered the Officer’s Certificate contemplated by Section 2.3(b)(i) of the
Collateral Trust Agreement and all other information, evidence and documentation required by
Section 2.3 of the Collateral Trust Agreement, in each case in accordance with the terms of the
Collateral Trust Agreement.

          8. Reaffirmation of Security Interest. By acknowledging and agreeing to this
Collateral Trust Joinder, each of the Trustors hereby (a) confirms and reaffirms the security
interests pledged and granted pursuant to the Second Lien Collateral Documents and grants a
security interest in all of its right, title and interest in the Collateral (as defined in the
applicable Second Lien Collateral Documents), whether now owned or hereafter acquired to secure the
Second Lien Obligations, and agrees that such pledges and grants of security interests shall
continue to be in full force and effect, (b) confirms and reaffirms all of its obligations under
its guarantees pursuant to the applicable Second Lien Note Documents and the New Second Lien
Documents and agrees that such guarantees shall continue to be in full force and effect, and (c)
authorizes the filing of any financing statements describing the Collateral (as defined in the
applicable Second Lien Collateral Documents) in the same manner as described in the applicable
Second Lien Collateral Documents or in any other manner as the Collateral Agent may determine is
necessary, advisable or prudent to ensure the perfection of the security interests in the
Collateral (as defined in the applicable Second Lien Collateral Documents) granted to the
Collateral Agent hereunder or under the applicable Second Lien Collateral Documents.

          9. Counterparts. This Collateral Trust Joinder may be executed in two or more
counterparts, each of which shall constitute an original but all of which when taken together shall
constitute one contract.

          10. Governing Law. THIS COLLATERAL TRUST JOINDER SHALL BE GOVERNED BY, AND CONSTRUED
IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

          11. Miscellaneous. The provisions of Section 8 of the Collateral Trust Agreement
shall apply with like effect to this Collateral Trust Joinder.

[Signature Pages Follow]

 

 

          IN WITNESS WHEREOF, the New Representative has caused this Collateral Trust Joinder to be duly
executed by its authorized representative, and each Trustor party hereto have caused the same to be
accepted by their respective authorized representatives, as of the day and year first above
written.

	 	 	 	 	 
	 	[NEW REPRESENTATIVE]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 
	 	Acknowledged and agreed:

EASTMAN KODAK COMPANY

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title 	 
	 
	 	[OTHER TRUSTORS]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title 	 

5

 

          The Collateral Agent acknowledges receipt of this Collateral Trust Joinder and agrees to act
as Collateral Agent with respect to the New Second Lien Facility in accordance with the terms of
the Collateral Trust Agreement, the Intercreditor Agreement and the Second Lien Collateral
Documents.

Dated:                     , 20     

	 	 	 	 	 
	 	THE BANK OF NEW YORK MELLON,

as Collateral Agent

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

6exv4w1

Exhibit 4.1

Officers’ Certificate Pursuant to

Section 3.01 of the Indenture

     Pursuant to Section 3.01 of the Indenture dated as of January 17, 2006 (the “Indenture”),
between Johnson Controls, Inc. (the “Company”) and U.S. Bank National Association (as successor to
JPMorgan Chase Bank, N.A.), as trustee (the “Trustee”), the undersigned on behalf of the Company
and in their respective capacities indicated, hereby certify that we have examined resolutions duly
adopted at a meeting of the Board of Directors of the Company on January 24, 2007 and January 21,
2009 and the action of authorized officers of the Company, dated March 4, 2010. Acting pursuant to
such resolutions and action, the undersigned hereby establish a series of Debt Securities by means
of this Officers’ Certificate, in accordance with the provisions of Section 3.01 of the Indenture:

     1. The title of the new series of Debt Securities shall be: 5.000% Senior Notes due 2020 (the
“Notes”). U.S. Bank National Association shall be the trustee with respect to the Notes.

     2. The aggregate principal amount of Notes that may be authenticated and delivered under the
Indenture (except for Notes authenticated and delivered upon registration of transfer of, or in
exchange for, or in lieu of, Notes pursuant to Article 3, the second paragraph of Section 4.03, or
Section 11.04, of the Indenture) is initially $500,000,000; provided, however, that the Company
shall have the right to reopen the Notes and issue additional Debt Securities, which shall be part
of the same series as the Notes initially issued (except for the issue date, the public offering
price and, in some cases, the first interest payment date).

     3. Principal on the Notes shall be payable on March 30, 2020.

     4. The Notes shall bear interest at rates of 5.000% per annum, which interest shall accrue
from March 9, 2010 and shall be payable semiannually on March 30 and September 30, beginning
September 30, 2010, to the persons in whose names the Notes are registered at the close of business
on the preceding March 15 and September 15, respectively.

     5. The principal of and interest on the Notes shall initially be payable at the offices of
U.S. Bank National Association (the “Paying Agent”).

     6. All or a portion of the Notes may be redeemed by the Company at any time or from time to
time. The Redemption Price for the Notes to be redeemed on any Redemption Date will be equal to the
greater of:

     (1) 100% of the principal amount of the Notes being redeemed on that Redemption Date,
and

     (2) the sum of the present values of the remaining scheduled payments of principal and
interest on the Notes to be redeemed on that Redemption Date (not including any portion of
such payments of interest accrued to the Redemption Date), discounted to the date of
redemption on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day
months) at the applicable Treasury Rate (as defined below),

 

 

plus 25 basis points, plus, in each case, accrued and unpaid interest on the Notes
being redeemed to the Redemption Date.

     Notwithstanding the foregoing, installments of interest on the Notes that are due and payable
on interest payment dates falling on or prior to a Redemption Date will be payable on the interest
payment date to the registered holders as of the close of business on the relevant record date
according to the Notes and the Indenture.

     As used herein:

     “Comparable Treasury Issue” means the U.S. Treasury security selected by an Independent
Investment Banker as having a maturity comparable to the remaining term (the “Remaining Life”) of
the Notes to be redeemed that would be utilized, at the time of selection and in accordance with
customary financial practice, in pricing new issues of corporate debt securities of comparable
maturity to the remaining term of such Notes.

     “Comparable Treasury Price” means, with respect to any Redemption Date, (1) the average of
five Reference Treasury Dealer Quotations for such Redemption Date, after excluding the highest and
lowest Reference Treasury Dealer Quotations, or (2) if the Independent Investment Banker obtains
fewer than five such Reference Treasury Dealer Quotations, the average of all such quotations.

     “Independent Investment Banker” means one of the Reference Treasury Dealers appointed by the
Company.

     “Reference Treasury Dealer” means (1) each of Banc of America Securities LLC, Citigroup Global
Markets Inc. and Barclays Capital Inc. (or their respective affiliates that are primary U.S.
Government securities dealers); provided, however, that if any of the foregoing shall cease to be a
primary U.S. Government securities dealer in New York City (a “Primary Treasury Dealer”), the
Company will substitute therefor another Primary Treasury Dealer, and (2) any other Primary
Treasury Dealer selected by the Company after consultation with the Independent Investment Banker.

     “Reference Treasury Dealer Quotations” means, with respect to each Reference Treasury Dealer
and any Redemption Date, the average, as determined by the Independent Investment Banker, of the
bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of
its principal amount) quoted in writing to the Independent Investment Banker at 5:00 p.m., New York
City time, on the third business day preceding such Redemption Date.

     “Treasury Rate” means, with respect to any Redemption Date, the rate per annum equal to the
semi-annual equivalent yield to maturity of the Comparable Treasury Issue, calculated using a price
for the Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the
Comparable Treasury Price for such Redemption Date. The Treasury Rate will be calculated on the
third business day preceding the Redemption Date.

     Holders of Notes to be redeemed will receive notice thereof by first-class mail at least 30
and not more than 60 days prior to the date fixed for redemption. If fewer than all of the Notes

2

 

are to be redeemed, the Trustee will select, not more than 60 days prior to the Redemption
Date, the particular Notes or portions thereof for redemption from the outstanding not previously
called by such method as the Trustee deems fair and appropriate.

     7. Upon the occurrence of a Change of Control Triggering Event (as defined below) with respect
to the Notes, unless the Company has exercised its right to redeem the Notes by giving irrevocable
notice to the Trustee in accordance with the Indenture, each holder of Notes will have the right to
require the Company to purchase all or a portion of such holder’s Notes pursuant to the offer
described below (the “Change of Control Offer”), at a purchase price equal to 101% of the principal
amount thereof plus accrued and unpaid interest, if any, up to but not including the date of
purchase (the “Change of Control Payment”), subject to the rights of holders of Notes on the
relevant record date to receive interest due and owing on the relevant interest payment date.

     Within 30 days following the date upon which the Change of Control Triggering Event occurs or,
at the Company’s option, prior to any Change of Control but after the public announcement of the
pending Change of Control, the Company will be required to send, by first class mail, a notice to
each holder of Notes, with a copy to the Trustee, which notice will govern the terms of the Change
of Control Offer. Such notice will state, among other things, the purchase date, which must be no
earlier than 30 days nor later than 60 days from the date such notice is mailed, other than as may
be required by law (the “Change of Control Payment Date”). The notice, if mailed prior to the date
of consummation of the Change of Control, will state that the Change of Control Offer is
conditioned on the Change of Control being consummated on or prior to the Change of Control Payment
Date.

     On the Change of Control Payment Date, the Company will, to the extent lawful:

          (i) accept or cause a third party to accept for payment all Notes or portions of Notes
properly tendered pursuant to the Change of Control Offer;

          (ii) deposit or cause a third party to deposit with the paying agent an amount equal to
the Change of Control Payment in respect of all Notes or portions of Notes properly
tendered; and

          (iii) deliver or cause to be delivered to the Trustee the Notes properly accepted
together with an Officers’ Certificate stating the aggregate principal amount of Notes or
portions of Notes being repurchased.

     The Company will not be required to make a Change of Control Offer with respect to the Notes
if a third party makes such an offer in the manner, at the times and otherwise in compliance with
the requirements for such an offer made by the Company and such third party purchases all the Notes
properly tendered and not withdrawn under its offer. In addition, the Company will not repurchase
any Notes if there has occurred and is continuing on the Change of Control Payment Date an event of
default under the Indenture, other than a default in the payment of the Change of Control Payment
on the Change of Control Payment Date.

     The Company must comply in all material respects with the requirements of Rule 14e-1 under the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), and any other

3

 

securities laws and regulations thereunder to the extent those laws and regulations are
applicable in connection with the repurchase of the Notes as a result of a Change of Control
Triggering Event. To the extent that the provisions of any such securities laws or regulations
conflict with the Change of Control Offer provisions of the Notes, the Company will be required to
comply with those securities laws and regulations and will not be deemed to have breached the
Company’s obligations under the Change of Control Offer provisions of the Notes by virtue of any
such conflict.

     As used in this Section 7:

     “Change of Control” means the occurrence of any of the following after the date of issuance of
the Notes:

     (1) the direct or indirect sale, lease, transfer, conveyance or other disposition
(other than by way of merger or consolidation), in one or a series of related transactions,
of all or substantially all of the Company assets and the assets of the Company’s
Subsidiaries taken as a whole to any “person” or “group” (as those terms are used in Section
13(d)(3) of the Exchange Act) other than to the Company or one of the Company’s
Subsidiaries;

     (2) the consummation of any transaction (including, without limitation, any merger or
consolidation) the result of which is that any “person” or “group” (as those terms are used
in Section 13(d)(3) of the Exchange Act) (other than the Company or one of the Company’s
Subsidiaries) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act), directly or indirectly, of the Company’s Voting Stock representing a majority
of the voting power of the Company’s outstanding Voting Stock;

     (3) the Company consolidate with, or merge with or into, any Person, or any Person
consolidates with, or merges with or into, the Company, in any such event pursuant to a
transaction in which any of the Company’s outstanding Voting Stock or Voting Stock of such
other Person is converted into or exchanged for cash, securities or other property, other
than any such transaction where the Company’s Voting Stock outstanding immediately prior to
such transaction constitutes, or is converted into or exchanged for, Voting Stock
representing a majority of the voting power of the Voting Stock of the surviving Person
immediately after giving effect to such transaction;

     (4) the first day on which the majority of the members of the board of directors of the
Company cease to be Continuing Directors; or

     (5) the adoption by the Company’s shareholders of a plan relating to the Company’s
liquidation or dissolution.

     Notwithstanding the foregoing, a transaction will not be deemed to involve a change of control
under clause (2) above if (1) the Company becomes a direct or indirect wholly-owned Subsidiary of a
holding company and (2)(A) the direct or indirect holders of the Voting Stock of such holding
company immediately following that transaction are substantially the same as the holders of the
Company’s Voting Stock immediately prior to that transaction or (B) immediately

4

 

following that transaction no person (as that term is used in Section 13(d)(3) of the Exchange
Act) (other than a holding company satisfying the requirements of this sentence) is the beneficial
owner, directly or indirectly, of more than 50% of the Voting Stock of such holding company.

     “Change of Control Triggering Event” means, with respect to the Notes, the Notes cease to be
rated Investment Grade by each of the Rating Agencies on any date during the period (the “Trigger
Period”) commencing 60 days prior to the first public announcement by the Company of any Change of
Control (or pending Change of Control) and ending 60 days following consummation of such Change of
Control (which Trigger Period will be extended following consummation of a Change of Control for so
long as any of the Rating Agencies has publicly announced that it is considering a possible ratings
change). However, a Change of Control Triggering Event otherwise arising by virtue of a particular
reduction in rating shall not be deemed to have occurred in respect of a particular Change of
Control (and thus shall not be deemed a Change of Control Triggering Event for purposes of the
definition of Change of Control Repurchase Event) if the Rating Agencies making the reduction in
rating to which this definition would otherwise apply do not announce or publicly confirm or inform
the Trustee in writing at the Company’s request that the reduction was the result, in whole or in
part, of any event or circumstance comprised of or arising as a result of, or in respect of, the
applicable Change of Control (whether or not the applicable Change of Control shall have occurred
at the time of the Change in Control Triggering Event). If a Rating Agency is not providing a
rating for the Notes at the commencement of any Trigger Period, the Notes will be deemed to have
ceased to be rated Investment Grade by such Rating Agency during that Trigger Period.

     Notwithstanding the foregoing, no Change of Control Triggering Event will be deemed to have
occurred in connection with any particular Change of Control unless and until such Change of
Control has actually been consummated.

     “Continuing Director” means, as of any date of determination, any member of the Company’s
board of directors who:

     (1) was a member of the Company’s board of directors on the date of the issuance of the
Notes; or

     (2) was nominated for election or elected or appointed to the Company’s board of
directors with the approval of a majority of the Continuing Directors who were members of
the Company’s board of directors at the time of such nomination, election or appointment
(either by a specific vote or by approval of the Company’s proxy statement in which such
member was named as a nominee for election as a director, without objection to such
nomination).

     “Investment Grade” means a rating of Baa3 or better by Moody’s (or its equivalent under any
successor rating category of Moody’s) and a rating of BBB- or better by S&P (or its equivalent
under any successor rating category of S&P), and the equivalent investment grade credit rating from
any replacement rating agency or rating agencies selected by the Company under the circumstances
permitting the Company to select a replacement rating agency and in the manner for selecting a
replacement rating agency, in each case as set forth in the definition of “Rating Agency.”

5

 

     “Moody’s” means Moody’s Investors Service, Inc., a subsidiary of Moody’s Corporation, and its
successors.

     “Person” means any individual, corporation, partnership, limited liability company, business
trust, association, joint-stock company, joint venture, trust, incorporated or unincorporated
organization or government or any agency or political subdivision thereof.

     “Rating Agency” means each of Moody’s and S&P; provided, that if any of Moody’s or S&P ceases
to provide rating services to issuers or investors, we may appoint another “nationally recognized
statistical rating organization” within the meaning of Rule 15c3-1(c)(2)(vi)(F) under the Exchange
Act as a replacement for such Rating Agency; provided, that the Company shall give notice of such
appointment to the Trustee.

     “S&P” means Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.,
and its successors.

     “Voting Stock” of any specified Person as of any date means the capital stock of such Person
that is at the time entitled to vote generally in the election of the board of directors of such
Person.

     8. The Notes shall not be entitled to any sinking fund.

     9. The Notes shall be issuable in United States dollars.

     10. Section 13.02 of the Indenture shall apply to the Notes.

     11. Payments of principal of and interest on the Notes shall be payable in United States
dollars.

     12. The Notes shall be issued in the form of fully registered Global Debt Securities in the
form attached hereto as Exhibit A, which will be deposited with the Trustee as custodian
for the Depository Trust Company (the “Depositary”) and registered in the name of “Cede & Co.,” as
the nominee of the Depositary. Principal of and interest payments on the Notes will be made to the
Depositary or its nominee. If at any time the Depositary notifies the Company that it is unwilling
or unable to continue as Depositary for the Notes or if at any time the Depositary for the Notes
shall no longer be eligible or in good standing under the Exchange Act, or other applicable statute
or regulation, the Company shall appoint a successor Depositary with respect to the Notes. If a
successor Depositary for the Notes is not appointed by the Company within 90 days after the Company
receives notice or becomes aware of such ineligibility, the Company will issue Notes in definitive
form in exchange for the Global Security representing Notes in an aggregate principal amount equal
to the principal amount of the Notes represented by such Global Security in exchange for the Notes
represented by such Global Security.

     13. The Notes are issuable in registered form without coupons in denominations of U.S.$2,000
and any integral multiples of U.S.$1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate
principal amount of Notes that are of other authorized denominations.

6

 

     Furthermore, we hereby approve the form of and authorize the execution and delivery of the
Notes.

     Capitalized terms used herein which are defined in the Indenture are used herein as so
defined.

[Signature Page to Follow]

7

 

Dated: March 9, 2010

	 	 	 	 	 
	 	JOHNSON CONTROLS, INC.

 	 
	 
	 	By:  	/s/ R. Bruce McDonald
 	 
	 	 	Name:  	R. Bruce McDonald 	 
	 	 	Title:  	Executive Vice President and Chief Financial Officer 	 
	 	 	 
	 	By:  	            /s/ Jerome D. Okarma
 	 
	 	 	Name:  	Jerome D. Okarma 	 
	 	 	Title:  	Vice President, Secretary and General

Counsel 	 
	 

Signature page of Officers’ Certificate Pursuant to Section 3.01 of the Indenture

8

 

EXHIBIT A

FORM OF NOTE

     Unless this certificate is presented by an authorized representative of the Depository Trust
Company, a New York Corporation (the “Depositary”), to the Issuer or its agent for registration of
transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co.
or in such other name as is requested by an authorized representative of the Depositary (and any
payment is made to Cede & Co. or to such other entity as is requested by an authorized
representative of the Depositary), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE
BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an
interest herein.

			 
	REGISTERED
	 	REGISTERED

JOHNSON CONTROLS, INC.

5.000% SENIOR NOTES DUE 2020

CUSIP 478366 AU1

ISIN: US478366AU18

			
	No. [•]
	 	US$[ ]

     JOHNSON CONTROLS, INC., a corporation duly organized and existing under the laws of the State
of Wisconsin (the “Company,” which term includes any successor corporation under the Indenture
hereinafter referred to), for value received, hereby promises to pay
to [  ], or registered
assignees, the principal sum set forth in the Schedule of Transfers and Exchanges in Note attached
hereto, which amount shall not exceed Five Hundred Million and 00/100 Dollars ($500,000,000) on
March 30, 2020, and to pay interest thereon from March 9, 2010, or from the most recent Interest
Payment Date to which interest has been paid or duly provided for, semi-annually on March 30 and
September 30 of each year, commencing September 30, 2010, at the rate of 5.000% per annum, until
the principal hereof becomes due and payable, and at such rate on any overdue principal and (to the
extent that the payment of such interest shall be legally enforceable) on any overdue installment
of interest. The interest so payable, and punctually paid or duly provided for, on any Interest
Payment Date will, as provided in such Indenture, be paid to the Person in whose name this 5.000%
Note Due 2020 (this “Note,” and all of the Notes collectively referred to herein as the “Notes”)
(or one or more Predecessor Debt Securities) is registered at the close of business on the Regular
Record Date for such interest, which shall be the March 15 or September 15 (whether or not a
Business Day), as the case may be, next preceding such Interest Payment Date; provided, however,
that interest payable on the Interest Payment Date occurring at maturity will be paid to the person
to whom principal shall be payable. Any such interest not punctually paid or duly provided for on
any Interest Payment Date shall forthwith cease to be payable to the registered Holder on such
Regular Record Date by virtue of his having been such Holder, and may either be paid to the Person
in whose name this Note (or one or more Predecessor Debt Securities) is registered at the close of
business on a Special Record Date for the payment of such Defaulted Interest to be fixed by the
Trustee, notice

9

 

whereof shall be given to Holders of Notes not more than 15 days and not less than 10 days
prior to such Special Record Date, or be paid at any time in any other lawful manner not
inconsistent with the requirements of any securities exchange on which the Notes may be listed, and
upon such notice as may be required by such exchange, all as more fully provided in said Indenture.

     This is one of the Debt Securities of the series designated herein issued under the
within-mentioned Indenture.

Dated: March 9, 2010

U.S. Bank National Association,
 As
Trustee

	 	 	 	 	 
	By:
	 	 

	 	 
	 

	 	Authorized Officer	 	 

10

 

     Payments of interest will be made by wire transfer of immediately available funds. Principal
and any premium and interest payable at Maturity will be paid in immediately available funds upon
surrender of such Note at the office of a Paying Agent in The City of New York, New York or at such
other office or agency as the Company may designate.

     Unless the certificate of authentication herein has been duly executed by the Trustee referred
to herein by manual signature, this Note shall not be entitled to any benefit under the Indenture
or be valid or obligatory for any purpose.

     This Note is one of a duly authorized issue of securities of the Company (the “Debt
Securities”), issued or to be issued in one or more series under an indenture, dated as of January
17, 2006 (the “ Base Indenture”), between the Company and U.S. Bank National Association (the
“Trustee,” which term includes any successor Trustee under the Base Indenture) to which Base
Indenture, together with all indentures supplemental to the Base Indenture and the Officers’
Certificates under Section 3.01 of the Base Indenture setting forth the form and terms of the Notes
(the Base Indenture as so supplemented, the “Indenture”), reference is hereby made for a statement
of the respective rights, limitations of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Notes and of the terms upon which the Notes are, and are to be,
authenticated and delivered. This Note is one of the series designated on the face hereof limited
in aggregate principal amount to $500,000,000, except that the Company may, without the consent of
the Holders, “reopen” the series and issue more notes that have the same ranking, interest rate,
maturity date and other terms as this Note.

     All or a portion of the Notes may be redeemed by the Company at any time or from time to time.
The Redemption Price for the Notes to be redeemed on any Redemption Date will be equal to the
greater of (i) 100% of the principal amount of the Notes being redeemed on the Redemption Date and
(ii) the sum of the present values of the remaining scheduled payments of principal and interest on
the Notes being redeemed on that Redemption Date (not including any portion of any payments of
interest accrued to the Redemption Date), discounted to the Redemption Date on a semi-annual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury Rate (as defined
below), plus 25 basis points, plus in either of case (i) or (ii) above, accrued and unpaid interest
on the Notes being redeemed to the Redemption Date. Holders of Notes to be redeemed will receive
notice thereof by first-class mail at least 30 and not more than 60 days prior to the Redemption
Date. If fewer than all of the fixed rate notes are to be redeemed, the Trustee will select, not
more than 60 days prior to the Redemption Date, the particular Notes or portions thereof for
redemption from the outstanding not previously called by such method as the Trustee deems fair and
appropriate.

     For the purposes of determining the Redemption Price, “Treasury Rate” means, with respect to
any Redemption Date, the rate per annum equal to the semi-annual equivalent yield to maturity of
the Comparable Treasury Issue, calculated using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable Treasury Price for such
Redemption Date. The Treasury Rate will be calculated on the third business day preceding the
Redemption Date. “Comparable Treasury Issue” means the U.S. Treasury security selected by an
Independent Investment Banker as having a maturity comparable to the remaining term of the Notes to
be redeemed that would be utilized, at the time of selection and in accordance with customary
financial practice, in pricing new issues of Debt Securities of

11

 

comparable maturity to the remaining term of such Notes. “Independent Investment Banker” means one
of the Reference Treasury Dealers appointed by the Company. “Comparable Treasury Price” means,
with respect to any Redemption Date, (1) the average of five Reference Treasury Dealer Quotations
for such Redemption Date, after excluding the highest and lowest Reference Treasury Dealer
Quotations, or (2) if the Independent Investment Banker obtains fewer than five such Reference
Treasury Dealer Quotations, the average of all such quotations. “Reference Treasury Dealer” means
(i) each of Banc of America Securities LLC, Citigroup Global Markets Inc. and Barclays Capital Inc.
(or their respective affiliates that are primary U.S. Government securities dealers); provided,
however, that if any of the foregoing shall cease to be a primary U.S. Government securities dealer
in New York City (a “Primary Treasury Dealer”), the Company will substitute therefor another
Primary Treasury Dealer, and (2) any other Primary Treasury Dealer selected by the Company after
consultation with the Independent Investment Banker. “Reference Treasury Dealer Quotations” means,
with respect to each Reference Treasury Dealer and any Redemption Date, the average, as determined
by the Independent Investment Banker, of the bid and asked prices for the Comparable Treasury Issue
(expressed in each case as a percentage of its principal amount) quoted in writing to the
Independent Investment Banker at 5:00 p.m., New York City time, on the third business day preceding
the Redemption Date.

     The Company shall have no obligation to redeem or purchase the Notes pursuant to any sinking
fund or analogous provision.

Upon the occurrence of a Change of Control Triggering Event with respect to the Notes, unless the
Company has exercised its right to redeem the Notes, each Holder of Notes will have the right to
require the Company to purchase all or a portion of such Holder’s Notes pursuant to a Change of
Control Offer, at a purchase price equal to 101% of the principal amount thereof plus accrued and
unpaid interest, if any, up to but not including the date of purchase, subject to the rights of
Holders of Notes on the relevant record date to receive interest due and owing on the relevant
Interest Payment Date. The Change of Control Offer will be made in accordance with the terms
specified in the Indenture.

     With the consent of the Holders of greater than 50% in aggregate principal amount of the
Outstanding Debt Securities of each series affected by such supplemental indenture, the Company and
the Trustee may enter into an indenture or indentures supplemental to the Indenture for the purpose
of adding any provisions to or changing the provisions of the Indenture or any supplement thereto
or of modifying in any manner the rights of the Holders of the Debt Securities of each series under
the Indenture; provided, however, that no such supplemental indenture shall (a) extend the time or
terms of payment of the principal at maturity of, or the interest on, any such series of Debt
Securities, or reduce principal or premium or the rate of interest, without the consent of the
Holder thereof, or (b) without the consent of all of the Holders of any series of Debt Securities
then outstanding, reduce the percentage of Debt Securities of any such series, the Holders of which
are required to consent (i) to any such supplemental indenture, (ii) to rescind and annul a
declaration that the Debt Securities of any series are due and payable as a result of the
occurrence of an Event of Default, (iii) to waive any past Event of Default under the Indenture and
its consequences and (iv) to waive compliance with certain other provisions contained in the
Indenture.

12

 

     The Company and the Trustee may enter into an indenture or indentures supplemental to the
Indenture without the consent of the Holders for limited purposes specified in the Indenture.

     The Holders of greater than 50% in aggregate principal amount of the Outstanding Notes may on
behalf of the Holders of all the Notes waive any past default or Event of Default under the
Indenture and its consequences except a default in the payment of principal of or premium, if any,
or interest on the Notes.

     Holders of Notes may not enforce their rights pursuant to the Indenture or the Notes except as
provided in the Indenture. No reference herein to the Indenture and no provision of this Note or
of the Indenture shall alter or impair the obligation of the Company, which is absolute and
unconditional, to pay the principal of (and premium, if any) and interest on this Note at the
times, place and rate, and in the coin or currency, herein prescribed.

     The Notes are issuable only in registered form without coupons in denominations of U.S.$2,000
and any integral multiples of U.S.$1,000 in excess thereof. As provided in the Indenture and
subject to certain limitations therein set forth, Notes are exchangeable for a like aggregate
principal amount of Notes that are of other authorized denominations.

     Notes to be exchanged shall be surrendered at any office or agency maintained by the Company
for such purpose, and the Company shall execute and the Trustee shall authenticate and deliver in
exchange therefor the Notes which the Holder making the exchange shall be entitled to receive.
Upon due presentment for registration of transfer of any Note at any such office or agency, the
Company shall execute and register and the Trustee shall authenticate and deliver in the name of
the transferee or transferees a new Note for an equal aggregate amount. Registration or
registration of transfer of any Note by the Debt Security Registrar (initially U.S. Bank National
Association) in the registry books maintained by such Debt Security Registrar in The City of New
York, New York, and delivery of such Note, duly authenticated, shall be deemed to complete the
registration or registration of transfer of such Note.

     No service charge shall be made for any exchange or registration of transfer, but the Company
or the Trustee may require payment of a sum sufficient to cover any tax or other governmental
charge payable in connection therewith. Prior to due presentment of a Note for registration of
transfer, the Company, the Trustee and any agent of the Company or the Trustee may treat the person
in whose name a Note is registered as the owner for all purposes whether or not such Note be
overdue and neither the Company, the Trustee nor any such agent shall be affected by notice to the
contrary.

     Certain of the Company’s obligations under the Indenture with respect to the Notes may be
terminated if the Company irrevocably deposits with the Trustee money or eligible instruments
sufficient to pay and discharge the entire indebtedness on all of the Notes, as described in the
Indenture.

     This Note is in the form of a Global Security as provided in the Indenture. If at any time
the Depositary notifies the Company that it is unwilling or unable to continue as Depositary for
this Note or if at any time the Depositary for the Notes shall no longer be eligible or in good
standing under the Securities Exchange Act of 1934, as amended, or other applicable statute or

13

 

regulation, the Company shall appoint a successor Depositary with respect to this Note. If a
successor Depositary for this Note is not appointed by the Company within 90 days after the Company
receives notice or becomes aware of such ineligibility, the Company will issue Notes in definitive
form in exchange for the Global Security representing Notes in an aggregate principal amount equal
to the principal amount of this Note in exchange for this Note.

     No recourse under or upon any obligation, covenant or agreement of the Indenture, any
supplemental indenture, or of any Note, or for any claim based hereon, or otherwise in respect
thereof shall be had against any incorporator, stockholder, or director, as such, past, present or
future, of the Company or any Subsidiary or of any predecessor or successor corporation, either
directly or through the Company, whether by virtue of any constitution, statute or rule of law, or
by the enforcement of any assessment or penalty or otherwise, all such liabilities being, by the
acceptance hereof and as part of the consideration for the issue hereof, expressly waived and
released.

     The Notes are subject to defeasance at the option of the Company as provided in the Indenture.

     All terms used in this Note which are defined in the Indenture shall have the meanings
assigned to them in the Indenture.

14

 

     IN WITNESS WHEREOF, the Company has caused this instrument to be duly executed under its
corporate seal.

Dated: March 9, 2010

	 	 	 	 	 
	 	JOHNSON CONTROLS, INC.

 	 
	 
	 	By:  	 	 
	 	 	Name:  	R. Bruce McDonald 	 
	 	 	Title:  	Vice President and Chief Financial
Officer 	 

     [SEAL]

	 	 	 	 	 
	 	Attest:

 	 
	 
	 	By:  	 	 
	 	 	Name:  	Jerome D. Okarma 	 
	 	 	Its:   Vice President, Secretary and General Counsel 	 

15

 

	 	 	 	 	 

 

ABBREVIATIONS

     The following abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to applicable laws or
regulations:

TEN COM — as tenants in common

TEN ENT — as tenants by the entireties

JT TEN  — as joint tenants with right of survivorship and not as tenants in common

UNIF GIFT
MIN ACT —      Custodian

	 	 	 	 	 	 	 	 	 
	 	 	 
	 

	 	(Cust)
	 	 	 	(Minor)
	 	 
	 	 	Under Uniform Gifts to Minors Act	 	 
	 
	 	 	 		 	 	 	 
	 	 	 
	 

	 	 	 	(State)	 	 	 	 

Additional abbreviations may also be used though not in the above list.

 

     FOR VALUE RECEIVED, the undersigned hereby sell(s), assign(s) and transfer(s) unto

PLEASE INSERT SOCIAL SECURITY OR

OTHER IDENTIFYING NUMBER OF ASSIGNEE

	 

PLEASE PRINT OR TYPEWRITE NAME AND ADDRESS INCLUDING POSTAL ZIP CODE OF ASSIGNEE

the within Security and all rights thereunder, hereby irrevocably constituting and appointing                     
attorney to transfer said Security on the books of the Company, with
full power of substitution in the premises.

Dated:

 

     Signature

NOTICE: THE SIGNATURE TO THIS ASSIGNMENT MUST CORRESPOND WITH THE NAME AS WRITTEN UPON THE FACE OF
THE WITHIN INSTRUMENT IN EVERY PARTICULAR, WITHOUT ALTERATION OR ENLARGEMENT OR ANY CHANGE
WHATEVER.

16

 

Schedule I

SCHEDULE OF TRANSFERS AND EXCHANGES

JOHNSON CONTROLS, INC.

5.000% Senior Notes due 2020

     The initial principal amount of this Global Debt Security is Five Hundred Million Dollars
($500,000,000). The following increases or decreases in the principal amount of this Global Debt
Security have been made:

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Principal Amount of	 	Signature of
	 	 	Amount of Decrease	 	Amount of Increase	 	this Global Debt	 	Authorized
	 	 	in Principal Amount	 	in Principal Amount	 	Security following	 	Signatory of
	 	 	of this Global Debt	 	of this Global Debt	 	such Decrease or	 	trustee or
	Date of Exchange	 	Security	 	Security	 	Increase	 	Custodian
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 
	  
 

	 	  
 
	 	  
 
	 	  

	 	  
 

17

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