Document:

Amended and Restated Credit Agreement

 Exhibit 10.1 
 EXECUTION VERSION 
  
  
  

					
		  	Published CUSIP Numbers:
		  	Deal:	  	57948UAA6
		  	Revolving Commitment:	  	57948UAB4
		  	Term A Loan:	  	57948UAC2

 AMENDED AND RESTATED CREDIT
AGREEMENT 
 Dated as of February 11, 2010 
 among 
 THE MCCLATCHY COMPANY, 
 as the Borrower, 
 BANK OF AMERICA, N.A., 
 as Administrative Agent, Swing Line Lender 
 and 
 L/C Issuer,

 JPMORGAN CHASE BANK, N.A., 
 as 
 Syndication Agent 
 and 
 The Other Lenders Party Hereto 
 BANC OF AMERICA SECURITIES LLC 
 and J.P. MORGAN SECURITIES INC., 
 as 
 Joint Lead Arrangers and Joint Book Managers 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I
 DEFINITIONS AND ACCOUNTING TERMS

			
	1.01	  	Defined Terms	  	1
			
	1.02	  	Other Interpretive Provisions	  	29
			
	1.03	  	Accounting Terms	  	30
			
	1.04	  	Rounding	  	30
			
	1.05	  	References to Agreements and Laws	  	30
			
	1.06	  	Times of Day	  	30
			
	1.07	  	Letter of Credit Amounts	  	30
	
	 ARTICLE II
 THE COMMITMENTS AND CREDIT EXTENSIONS

			
	2.01	  	The Loans	  	31
			
	2.02	  	Borrowings, Conversions and Continuations of Committed Loans	  	32
			
	2.03	  	Letters of Credit	  	34
			
	2.04	  	Swing Line Loans	  	43
			
	2.05	  	Prepayments	  	46
			
	2.06	  	Termination or Reduction of Commitments	  	49
			
	2.07	  	Repayment of Loans	  	51
			
	2.08	  	Interest	  	51
			
	2.09	  	Fees	  	52
			
	2.10	  	Computation of Interest and Fees	  	53
			
	2.11	  	Evidence of Debt	  	53
			
	2.12	  	Payments Generally	  	54
			
	2.13	  	Sharing of Payments	  	56
	
	 ARTICLE III
 TAXES, YIELD PROTECTION AND ILLEGALITY

			
	3.01	  	Taxes	  	56
			
	3.02	  	Illegality	  	58
			
	3.03	  	Inability to Determine Rates	  	58

  

 -i- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	3.04	  	Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate Loans	  	59
			
	3.05	  	Compensation for Losses	  	59
			
	3.06	  	Matters Applicable to all Requests for Compensation	  	60
			
	3.07	  	Survival	  	60
	
	 ARTICLE IV
 CONDITIONS PRECEDENT TO EFFECTIVENESS AND CREDIT EXTENSIONS

			
	4.01	  	Conditions of Effectiveness	  	60
			
	4.02	  	Conditions to all Credit Extensions	  	62
	
	 ARTICLE V
 REPRESENTATIONS AND WARRANTIES

			
	5.01	  	Existence, Qualification and Power; Compliance with Laws	  	63
			
	5.02	  	Authorization; No Contravention	  	63
			
	5.03	  	Governmental Authorization; Other Consents	  	63
			
	5.04	  	Binding Effect	  	63
			
	5.05	  	Financial Statements	  	64
			
	5.06	  	Litigation	  	64
			
	5.07	  	No Default	  	64
			
	5.08	  	Ownership of Property; Liens	  	64
			
	5.09	  	Environmental Compliance	  	65
			
	5.10	  	Insurance	  	65
			
	5.11	  	Taxes	  	65
			
	5.12	  	ERISA Compliance	  	65
			
	5.13	  	Subsidiaries	  	66
			
	5.14	  	Margin Regulations; Investment Company Act; Public Utility Holding Company Act	  	66
			
	5.15	  	Disclosure	  	66
			
	5.16	  	Compliance with Laws	  	67
			
	5.17	  	Solvency	  	67

  

 -ii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 ARTICLE VI
 AFFIRMATIVE COVENANTS

			
	6.01	  	Financial Statements	  	67
			
	6.02	  	Certificates; Other Information	  	68
			
	6.03	  	Notices	  	69
			
	6.04	  	Payment of Obligations	  	70
			
	6.05	  	Preservation of Existence, Etc	  	70
			
	6.06	  	Maintenance of Properties	  	71
			
	6.07	  	Maintenance of Insurance	  	71
			
	6.08	  	Compliance with Laws	  	71
			
	6.09	  	Books and Records	  	71
			
	6.10	  	Inspection Rights	  	71
			
	6.11	  	Use of Proceeds	  	72
			
	6.12	  	Covenant to Guarantee Obligations and Give Security	  	73
			
	6.13	  	[RESERVED]	  	73
			
	6.14	  	Financial Advisors	  	73
	
	 ARTICLE VII
 NEGATIVE COVENANTS

			
	7.01	  	Liens	  	74
			
	7.02	  	Indebtedness	  	75
			
	7.03	  	Fundamental Changes, Dispositions	  	78
			
	7.04	  	Change in Nature of Business	  	80
			
	7.05	  	Transactions with Affiliates	  	80
			
	7.06	  	Use of Proceeds	  	80
			
	7.07	  	Financial Covenants	  	80
			
	7.08	  	Burdensome Agreements	  	81
			
	7.09	  	Restricted Payments	  	83
			
	7.10	  	Investments	  	84
			
	7.11	  	Amendments of Organization Documents	  	86
			
	 7.12
	  	Accounting Changes	  	87

  

 -iii- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	 ARTICLE VIII
 EVENTS OF DEFAULT AND REMEDIES

			
	 8.01	  	Events of Default	  	87
			
	 8.02	  	Remedies Upon Event of Default	  	89
			
	 8.03	  	Application of Funds	  	90
	
	 ARTICLE IX
 ADMINISTRATIVE AGENT

			
	 9.01	  	Appointment and Authority	  	90
			
	 9.02	  	Rights as a Lender	  	91
			
	 9.03	  	Exculpatory Provisions	  	91
			
	 9.04	  	Reliance by Administrative Agent	  	92
			
	 9.05	  	Delegation of Duties	  	93
			
	 9.06	  	Resignation of Administrative Agent	  	93
			
	 9.07	  	Non-Reliance on Administrative Agent and Other Lenders	  	94
			
	 9.08	  	No Other Duties, Etc	  	94
			
	 9.09	  	Administrative Agent May File Proofs of Claim	  	94
			
	 9.10	  	Collateral and Guaranty Matters	  	95
	
	 ARTICLE X
 MISCELLANEOUS

			
	10.01	  	Amendments, Etc	  	95
			
	10.02	  	Notices; Effectiveness; Electronic Communications.	  	97
			
	10.03	  	No Waiver; Cumulative Remedies	  	99
			
	10.04	  	Expenses; Indemnity; Damage Waiver	  	100
			
	10.05	  	Payments Set Aside	  	102
			
	10.06	  	Successors and Assigns	  	102
			
	10.07	  	Treatment of Certain Information; Confidentiality	  	106
			
	10.08	  	Right of Setoff	  	107
			
	10.09	  	Interest Rate Limitation	  	107
			
	10.10	  	Counterparts; Integration; Effectiveness	  	108
			
	 10.11
	  	Survival of Representations and Warranties	  	108

  

 -iv- 

 TABLE OF CONTENTS 
 (continued) 
  

					
	 	  	 	  	Page
	10.12	  	Severability	  	108
			
	10.13	  	Replacement of Lenders	  	108
			
	10.14	  	Tax Forms	  	109
			
	10.15	  	Governing Law; Jurisdiction; Etc	  	111
			
	10.16	  	Waiver of Jury Trial	  	112
			
	10.17	  	No Advisory or Fiduciary Responsibility	  	112
			
	10.18	  	USA PATRIOT Act Notice	  	113
			
	10.19	  	Additional Consents for Amendments, Etc	  	113

 SCHEDULES 
  

			
	2.01	  	Commitments and Applicable Percentages
	10.02	  	Administrative Agent’s Office, Certain Address for Notice
	10.06	  	Assignment and Assumption Fees

 EXHIBITS

 Form of 
  

			
	A	  	Committed Loan Notice
	B	  	Swing Line Loan Notice
	C-1	  	Class A Term Note
	C-2	  	Class B Term Note
	C-3	  	Class A Revolving Credit Note
	C-4	  	Class B Revolving Credit Note
	D	  	Compliance Certificate
	E	  	Assignment and Assumption
	F	  	Opinion Matters
	G	  	Form of Guaranty

  

 -v- 

 AMENDED AND RESTATED CREDIT AGREEMENT 
 This AMENDED AND RESTATED CREDIT AGREEMENT (“Agreement”) is entered into as of February 11, 2010, among THE MCCLATCHY
COMPANY, a Delaware corporation (the “Borrower”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), BANK OF AMERICA, N.A., as Administrative
Agent, Swing Line Lender and L/C Issuer, JPMORGAN CHASE BANK, N.A., as Syndication Agent, and BANC OF AMERICA SECURITIES LLC and J.P. MORGAN SECURITIES INC., as Joint Lead Arrangers and Joint Book Managers. 
 The Borrower, various lenders, Bank of America, N.A., as Administrative Agent, Swing Line Lender and L/C Issuer, JPMorgan Chase Bank, N.A.,
as Syndication Agent, and Banc of America Securities LLC and J.P. Morgan Securities Inc., as Joint Lead Arrangers and Joint Book Managers, are parties to that certain Credit Agreement dated as of June 27, 2006 (as amended prior to the date
hereof, the “Existing Credit Agreement”). The Borrower, the Administrative Agent, the Required Lenders, the Required Revolving Lenders and the Required Term A Lenders (as defined in the Existing Credit Agreement) have agreed that
the Existing Credit Agreement shall be amended and restated in its entirety. 
 In consideration of the mutual covenants and
agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 
 DEFINITIONS AND ACCOUNTING TERMS 
 1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 
 “Administrative Agent” means Bank of America in its capacity as administrative agent under any of the Loan Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative Agent’s address and, as appropriate, account as set
forth on Schedule 10.02, or such other address or account as the Administrative Agent may from time to time notify the Borrower and the Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 
 “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies
of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 
 “Agent-Related Persons” means the Administrative Agent, together with its Affiliates (including, in the case of Bank of
America in its capacity as the Administrative Agent, Banc of America Securities LLC), and the officers, directors, employees, agents and attorneys-in-fact of such Persons and Affiliates. 
  

 1 

 “Aggregate Commitments” means the Commitments of all the Lenders.

 “Agreement” means this Amended and Restated Credit Agreement. 
 “Amendment and Restatement Agreement” means the Amendment and Restatement Agreement, dated as of January 26, 2010
among the Borrower, the Lenders party thereto and the Administrative Agent. 
 “Amendment No. 5” means
Amendment No. 5 to the Existing Credit Agreement, dated as of May 20, 2009. 
 “Applicable
Percentage” means (a) in respect of the Term A Facility, with respect to any Term A Lender at any time, the percentage (carried out to the ninth decimal place) of the Term A Facility represented by the principal amount of such Term A
Lender’s Term A Loans at such time, and (b) in respect of the Revolving Credit Facility, with respect to any Revolving Credit Lender at any time, the percentage (carried out to the ninth decimal place) of the Revolving Credit Facility
represented by such Revolving Credit Lender’s Revolving Credit Commitment at such time. If the commitment of each Revolving Credit Lender to make Revolving Credit Loans and the obligation of the L/C Issuer to make L/C Credit Extensions have
been terminated pursuant to Section 8.02, or if all the Revolving Credit Commitments have expired, then the Applicable Percentage of each Revolving Credit Lender in respect of the Revolving Credit Facility shall be determined based on
the Applicable Percentage of such Revolving Credit Lender in respect of the Revolving Credit Facility most recently in effect, giving effect to any subsequent assignments. The Applicable Percentage of each Lender in respect of each Facility as of
the Restatement Effective Date is set forth opposite the name of such Lender on Schedule 2.01, and otherwise shall be as set forth in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

 “Applicable Rate” means, from time to time, the following rates per annum (expressed in basis points),
determined by reference to the statement of Consolidated Total Leverage Ratio as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a): 
  

							
	 Consolidated Total
 Leverage Ratio
	  	Commitment Fee	  	Eurodollar Rate +
Letters of Credit
	  	Base Rate
	 < 5.0 to 1.00
	  	50.0	  	425.0	  	325.0
	 3 5.00 to 1.00 but < 6.00 to 1.00
	  	62.5	  	500.0	  	400.0
	 3 6.00 to 1.00
	  	75.0	  	575.0	  	475.0

 If a Compliance
Certificate setting forth the Consolidated Total Leverage Ratio shall not have been delivered to the Administrative Agent as required by Section 6.02(a), at the request of the Required Lenders, the “Applicable Rate”
shall be the highest rate set forth in the foregoing grid until such Compliance Certificate is so delivered. 
  

 2 

 Notwithstanding anything to the contrary contained in this definition, the determination of
the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b). 
 “Applicable
Revolving Credit Percentage” means with respect to any Revolving Credit Lender at any time, such Revolving Credit Lender’s Applicable Percentage in respect of the Revolving Credit Facility at such time. 
 “Appropriate Lender” means, at any time, (a) with respect to the Term A Facility or the Revolving Credit Facility, a
Lender that has a Commitment with respect to such Facility or holds a Term A Loan or a Revolving Credit Loan, respectively, at such time, (b) with respect to the Letter of Credit Sublimit, (i) the L/C Issuer and (ii) if any Letters of
Credit have been issued pursuant to Section 2.03(a), the Revolving Credit Lenders, (c) with respect to the Swing Line Sublimit, (i) the Swing Line Lender and (ii) if any Swing Line Loans are outstanding pursuant to
Section 2.04(a), the Revolving Credit Lenders, (d) with respect to the Class A Loans, the Class A Lenders, and (e) with respect to the Class B Loans, the Class B Lenders. 
 “Approved Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or
(c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 “Arrangers” means each
of Banc of America Securities LLC and J.P. Morgan Securities Inc., in its capacity as joint lead arranger and joint book manager. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an Eligible Assignee (with the consent of any party whose consent is required by Section 10.06(b)), and accepted by the
Administrative Agent, in substantially the form of Exhibit E or any other form approved by the Administrative Agent. 
 “Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in
accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant lease that would appear on a balance sheet of such Person prepared as of such date in
accordance with GAAP if such lease were accounted for as a capital lease. 
 “Audited Financial Statements”
means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the fiscal year ended December 28, 2008, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such
fiscal year of the Borrower and its Subsidiaries, including the notes thereto. 
 “Available Investment Basket
Amount” means $20,000,000 (if the Consolidated Total Leverage Ratio shall be greater than 5.0 to 1.0), or $40,000,000 (if the Consolidated Total Leverage Ratio shall be less than or equal to 5.0 to 1.0), less the cumulative
amount used to make Investments constituting acquisitions under Section 7.10(g), and less the cumulative amount (net of any return of capital) used to make Investments under Section 7.10(i) and
Section 7.10(n). Where the Available Investment Basket Amount is being determined for purposes of Section 7.10(g) or Section 7.10(n), the Consolidated Total Leverage Ratio shall be determined on a pro forma basis
with respect to the contemplated transaction using the financial information

  

 3 

 
most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a) or (b), except that Consolidated Indebtedness shall be calculated as of the date
of such Investment, after giving pro forma effect thereto. 
 “Availability Period” means, in the case of
Class A Loans, the Class A Availability Period and, in the case of Class B Loans, the Class B Availability Period. 
 “Bank of America” means Bank of America, N.A. and its successors. 
 “Base Rate”
means for any day a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus 1/2 of 1% and (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its
“prime rate,” and (c) the Eurodollar Rate (determined in accordance with clause (b) of the definition thereof) plus 1.00%. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of
America’s costs and desired return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such rate announced by Bank
of America shall take effect at the opening of business on the day specified in the public announcement of such change. 
 “Base Rate Loan” means a Loan that bears interest based on the Base Rate. 
 “Borrower” has the meaning specified in the introductory paragraph hereto. 
 “Borrower
Materials” has the meaning specified in Section 6.02. 
 “Borrowing” means a Committed
Borrowing or a Swing Line Borrowing, as the context may require. 
 “Business Day” means any day other than a
Saturday, Sunday or other day on which commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Administrative Agent’s Office is located and, if such day relates to any Eurodollar Rate Loan,
means any such day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market. 
 “Business Unit” means each newspaper owned by the Borrower and its Subsidiaries and the assets used in connection with the publication of such newspaper. 
 “Capital Expenditures” means, with respect to any Person for any period, any expenditure in respect of the purchase or
other acquisition of any fixed or capital asset (excluding normal replacements and maintenance which are properly charged to current operations in accordance with GAAP). 
 “Capital Lease Obligations” of any Person shall mean the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real
or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of such obligations shall be the capitalized amount
thereof determined in accordance with GAAP. 
  

 4 

 “Cash Collateralize” has the meaning specified in
Section 2.03(g). 
 “Cash Equivalents” means any of the following types of Investments, to the
extent owned by the Borrower or any of its Subsidiaries free and clear of all Liens (other than Liens created under the Collateral Documents and other Liens permitted hereunder): 
 (a) U.S. dollars, or in the case of any Foreign Subsidiary, such currencies held by it from time to time in the ordinary
course of business; 
 (b) securities issued or directly and fully guaranteed or insured by the United States
Government or any agency or instrumentality of the United States of America (provided that the full faith and credit of the United States of America is pledged in support thereof); 
 (c) marketable general obligations issued by any state of the United States of America or any political subdivision of any
such state or any public instrumentality thereof maturing within one year from the date of acquisition and, at the time of acquisition, having a credit rating of either “A” or better from S&P or “A2” or better from
Moody’s; 
 (d) certificates of deposit, demand deposits, time deposits, eurodollar time deposits, overnight
bank deposits or bankers’ acceptances having maturities of not more than one year from the date of acquisition thereof issued by any commercial bank (x) the long-term debt of which is rated at the time of acquisition thereof at least
“A” (or the equivalent thereof) by S&P or “A2” (or the equivalent thereof) by Moody’s or (y) the short term commercial paper of such commercial bank or its parent company is rated at the time of acquisition thereof
at least “A-1” (or the equivalent thereof) by S&P or “P-1” (or the equivalent thereof) by Moody’s, and having combined capital and surplus in excess of $1,000,000,000; 
 (e) repurchase obligations with a term of not more than 30 days for underlying securities of the types described in clauses
(b), (c) and (d) above, entered into with any bank meeting the qualifications specified in clause (d) above; 
 (f) commercial paper rated at the time of acquisition thereof at least “A-1” (or the equivalent thereof) by S&P or “P-1” (or the equivalent thereof) by Moody’s, or carrying an
equivalent rating by a nationally recognized statistical rating organization, if either of such Rating Agencies cease publishing ratings of investments, and in any case maturing within one year after the date of acquisition thereof; 
 (g) instruments equivalent to those referred to in clauses (a) through (f) above denominated in euros or any
foreign currency comparable in credit quality and tenor to those referred to in such clauses and customarily used by corporations for cash management purposes in any jurisdiction outside the United States to the extent reasonably required in
connection with any business conducted by any Subsidiary organized in such jurisdiction; 
  

 5 

 (h) interests in any investment company or money market fund that invests
95% or more of its assets in instruments of the type specified in clauses (a) through (g) above; 
 (i)
money market funds that (i) comply with the criteria set forth in Rule 2A-7 of the Investment Company Act of 1940, as amended, (ii) are rated at the time of acquisition thereof “AAA” by S&P or “Aaa” by Moody’s
and (iii) have portfolio assets of at least $5.0 billion; and 
 (j) in the case of any Foreign Subsidiary,
high quality short-term investments which are customarily used for cash management purposes in any country in which such Foreign Subsidiary operates. 
 “CFC” means a Person that is a controlled foreign corporation under Section 957 of the Code. 
 “Change of Control” means the occurrence of any of the following: (a) any Person or group (within the meaning of Rule 13d-5 of the Securities Exchange Act of 1934, as in effect on
the date hereof) shall own directly or indirectly, beneficially of record, shares representing more than 50% of the aggregate ordinary voting power represented by the issued and outstanding capital stock of the Borrower; or (b) a majority of
the seats (other than vacant seats) on the board of directors of the Borrower shall at any time be occupied by Persons who were neither (i) nominated by the board of directors of the Borrower, nor (ii) appointed by directors so nominated,
in each case either by a specific vote or by approval of a proxy statement issued by the Borrower on behalf of its entire Board of Directors in which such individual is named as a nominee for director; provided, however, that neither
the ownership nor acquisitions of shares of the capital stock of the Borrower by, nor the transfers of shares of the capital stock of the Borrower between, Members of the McClatchy Family shall constitute a Change in Control. 
 “Class” when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are Class A Loans or Class B Loans and, when used in reference to any Commitment, refers to whether such Commitment is a Class A Revolving Credit Commitment or Class B Revolving Credit Commitment, and, when used in reference to
any Lender, refers to whether such Lender is a Class A Lender or a Class B Lender. 
 “Class A Availability
Period” means the period from and including the Restatement Effective Date to the earliest of (a) the Class A Maturity Date, (b) the date of termination of the Class A Revolving Credit Commitments pursuant to
Section 2.06, and (c) the date of termination of the commitment of each Class A Revolving Credit Lender to make Class A Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit Extensions pursuant
to Section 8.02. 
 “Class A Lender” means each Lender that holds a Class A Revolving Credit
Commitment or which is owed a Class A Term A Loan. 
 “Class A Loan” means each Loan outstanding hereunder
as to which the Lender is a Class A Lender. 
  

 6 

 “Class A Maturity Date” means July 1, 2013. 
 “Class A Revolving Credit Commitment” means, as to each Class A Revolving Credit Lender, its obligation to
(a) make Class A Revolving Credit Loans to the Borrower pursuant to Section 2.01(b) or Section 2.01(d), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans,
in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Class A Revolving Credit Commitment” or opposite such caption
in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 
 “Class A Revolving Credit Loan” means a Revolving Credit Loan made by a Class A Lender. 
 “Class A Revolving Credit Note” means a promissory note made by the Borrower in favor of a Class A Revolving Credit
Lender evidencing Class A Revolving Credit Loans or Swing Line Loans, as the case may be, made by such Class A Revolving Credit Lender, substantially in the form of Exhibit C-3. 
 “Class A Term A Loan” has the meaning specified in Section 2.01(a). 
 “Class A Term Note” means a promissory note made by the Borrower in favor of a Class A Term A Lender evidencing
Class A Term A Loans made by such Class A Term A Lender, substantially in the form of Exhibit C-1. 
 “Class B Availability Period” means the period from and including the Restatement Effective Date to the earliest of (a) the Class B Maturity Date, (b) the date of termination of the Class B Revolving Credit
Commitments pursuant to Section 2.06, and (c) the date of termination of the commitment of each Class B Revolving Credit Lender to make Class B Revolving Credit Loans and of the obligation of the L/C Issuer to make L/C Credit
Extensions pursuant to Section 8.02. 
 “Class B Lender” means each Lender that holds a Class B
Revolving Credit Commitment or which is owed a Class B Term A Loan. 
 “Class B Loan” means each Loan
outstanding hereunder as to which the Lender is a Class B Lender. 
 “Class B Maturity Date” means
June 27, 2011. 
 “Class B Revolving Credit Commitment” means, as to each Class B Revolving Credit Lender,
its obligation to (a) make Class B Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate
principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Class B Revolving Credit Commitment” or opposite such caption in the
Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement. 
  

 7 

 “Class B Revolving Credit Loan” means a Revolving Credit Loan made by a
Class B Lender. 
 “Class B Revolving Credit Note” means a promissory note made by the Borrower in favor of a
Class B Revolving Credit Lender evidencing Class B Revolving Credit Loans or Swing Line Loans, as the case may be, made by such Class B Revolving Credit Lender, substantially in the form of Exhibit C-4. 
 “Class B Term A Loan” has the meaning specified in Section 2.01(b). 
 “Class B Term Note” means a promissory note made by the Borrower in favor of a Class B Term A Lender evidencing Class B
Term A Loans made by such Class B Term A Lender, substantially in the form of Exhibit C-2. 
 “Code” means the Internal Revenue Code of 1986. 
 “Collateral Documents” means,
collectively, the Intercreditor Agreement, the Security Agreement, each of the collateral assignments, Security Agreement Joinders, security agreements, pledge agreements or other similar agreements delivered to the Administrative Agent pursuant to
Section 6.12, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of the Administrative Agent for the benefit of the Lenders. 
 “Commitment” means, as to each Lender, its Class A Revolving Credit Commitment and/or its Class B Revolving Credit
Commitment, as the context requires. 
 “Committed Borrowing” means a borrowing consisting of simultaneous
Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Lenders pursuant to Section 2.01. 
 “Committed Loan” means a Term A Loan or Revolving Credit Loan, as the context may require. 
 “Committed Loan Notice” means a notice of (a) a Committed Borrowing, (b) a conversion of Committed Loans from one
Type to the other, or (c) a continuation of Eurodollar Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. “Compliance Certificate” means a
certificate substantially in the form of Exhibit D. 
 “Consolidated EBITDA” means, for any period,
for the Borrower and its Subsidiaries on a consolidated basis, an amount equal to Consolidated Net Income for such period plus (a) the following to the extent deducted in calculating such Consolidated Net Income: (i) Consolidated Interest
Charges for such period, (ii) the provision for federal, state, local and foreign income taxes payable by the Borrower and its Subsidiaries for such period, (iii) the amount of depreciation and amortization expense deducted in determining
such Consolidated Net Income, (iv) the amount of equity-based compensation expense deducted in determining such

  

 8 

 
Consolidated Net Income, (v) all non-cash restructuring charges for such period, (vi) all cash restructuring charges for such period, up to an aggregate amount of up to $30,000,000 for
the fiscal year ending December 27, 2009, and up to $60,000,000 for the period from and including the first fiscal quarter of 2010 through the second fiscal quarter of 2013, (vii) other non-recurring or non-cash charges or non-cash losses
(as determined in the reasonable discretion of the Administrative Agent in consultation with the Borrower) of the Borrower and its Subsidiaries reducing Consolidated Net Income for such period, (viii) all charges and losses in connection with
the extinguishment of debt, and (ix) all Exchange Transaction Expenses and minus (b) the following to the extent increasing Consolidated Net Income for such period: (i) all non-recurring or non-cash gains or other non-recurring or
non-cash items (as determined in the reasonable discretion of the Administrative Agent in consultation with the Borrower), and (ii) all gains associated with the extinguishment of debt. Upon the Disposition of a Business Unit, Consolidated
EBITDA for the four fiscal quarter period during which the Disposition occurred shall be reduced by the Consolidated EBITDA for such four fiscal quarter period (if positive), or increased by the Consolidated EBITDA for such four fiscal quarter
period (if negative), directly attributable to the Business Unit that was the subject of such Disposition using the same methodology as set forth in such Schedule 1.01 to the Disclosure Letter (as determined in the reasonable discretion of the
Administrative Agent in consultation with Borrower). 
 “Consolidated Indebtedness” means, as of any date of
determination, for the Borrower and its Subsidiaries on a consolidated basis, but without duplication, the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations
hereunder) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments, (b) all purchase money Indebtedness, (c) all obligations arising under letters of credit (including standby), bankers’
acceptances, bank guaranties, surety bonds and other instruments, exclusive of any Contingent Obligations Amount, (d) Attributable Indebtedness in respect of capital leases and Synthetic Lease Obligations, (e) without duplication, all
Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (d) above of Persons other than the Borrower or any Subsidiary, and (f) all Indebtedness of the types referred to in clauses
(a) through (e) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company or other similar entity that does not provide for pass-through liability) in which the Borrower
or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Borrower or such Subsidiary; provided, however, that “Indebtedness” shall exclude any Guarantee
obligations resulting from the completion of a Leveraged Partnership Disposition, unless there shall exist a default under the obligations which are the subject of such Guarantee. 
 “Consolidated Interest Charges” means, for any period, the interest expense of the Borrower and its Subsidiaries for such
period determined on a consolidated basis in accordance with GAAP, including but not limited to the portion of any payments or accruals with respect to Capital Lease Obligations that are allocable to interest expense, excluding (w) any
write-offs of capitalized fees under this Agreement and all amendments hereto, (x) all non-cash charges for the amortization of purchase price adjustments in connection with the Merger related to the Indebtedness of KR, (y) all non-cash
charges for the amortization of original issue discount with respect to the Senior Secured Notes, and (z) any interest on tax reserves to the extent the Borrower has elected to treat such interest as an interest expense under FIN 48 since
its adoption.

  

 9 

 
If a Disposition of a Business Unit occurs that results in an adjustment to the calculation of Consolidated EBITDA, then the interest expense for the four quarter period during which the
Disposition occurred shall be reduced by the amount of interest expense attributable to the Loans prepaid as a result of such Disposition. 
 “Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for the period of the four prior fiscal quarters ending on such
date to (b) Consolidated Interest Charges for such period. 
 “Consolidated Total Leverage Ratio” means,
as of any date of determination, the ratio of (a) Consolidated Indebtedness as of such date to (b) Consolidated EBITDA for the period of the four fiscal quarters most recently ended for which the Borrower has delivered financial
statements pursuant to Section 6.01(a) or (b). 
 “Consolidated Net Income” means, for any
period, for the Borrower and its Subsidiaries on a consolidated basis, the net income of the Borrower and its Subsidiaries (excluding extraordinary gains and extraordinary losses) for that period. 
 “Contingent Obligation Amount” means Indebtedness in an amount, not exceeding $75,000,000 in the aggregate at any time,
representing contingent obligations of one or more Loan Parties under letters of credit issued with respect to the Borrower’s programs for workers’ compensation and insurance. 
 “Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 
 “Control” has the meaning specified in the definition of “Affiliate.” 
 “Credit
Extension” means each of the following: (a) a Borrowing and (b) an L/C Credit Extension. 
 “Debtor
Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar
debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 
 “Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the passage of time, or both, would be an Event of Default. 

“Default Rate” means (a) when used with respect to Obligations other than Letter of Credit Fees, an interest rate
equal to (i) the Base Rate plus (ii) the Applicable Rate, if any, applicable to Base Rate Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurodollar Rate Loan, the Default Rate
shall be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum, and (b) when used with respect to Letter of Credit Fees, a rate equal to the Applicable Rate
plus 2% per annum, in all cases to the fullest extent permitted by applicable Laws. 
  

 10 

 “Defaulting Lender” means any Lender that (a) has failed to fund any
portion of its Committed Loans, participations in L/C Obligations or participations in Swing Line Loans required to be funded by it hereunder within one Business Day of the date required to be funded by it hereunder, (b) has otherwise failed to
pay over to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within one Business Day of the date when due, unless the subject of a good faith dispute, or (c) has been deemed insolvent or become
the subject of a bankruptcy or insolvency proceeding. 
 “Designated Extending Lender” means each Lender that
consented to the Amendment and Restatement Agreement and that converted all of its Revolving Credit Commitments and its Term A Loan under the Existing Credit Agreement into Class A Commitments and a Class A Term A Loan under this
Agreement. 
 “Disclosure Letter” means the Disclosure Letter of the Borrower to the Administrative Agent and
the Lenders dated the Restatement Effective Date. 
 “Disposition” or “Dispose” means the
sale, transfer, license, lease or other disposition (including any sale and leaseback transaction) of any property by any Person. 
 “Early Retirement” means, with respect to all or a portion of any series of Borrower’s Public Indebtedness, any prepayment, purchase, repurchase, redemption, retirement, defeasance, acquisition or cancellation of such
Public Indebtedness, or making any sinking fund or similar deposit with respect thereto, prior to the stated maturity date of such Public Indebtedness. 
 “Eligible Assignee” means any Person that meets the requirements to be an assignee under Section 10.06(b)(iii), (v) and (vi) (subject to such consents,
if any, as may be required under Section 10.06(b)(iii)). 
 “Environmental Laws” means any and all
Federal, state, local, and foreign statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of
the environment or the release of any materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other ownership or profit
interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities convertible into or
exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all of the other
ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any date of
determination. For the avoidance of doubt, debt securities that are convertible into shares of capital stock (or other ownership or profit interests) shall not be considered Equity Interests. 
 “ERISA” means the Employee Retirement Income Security Act of 1974. 
  

 11 

 “ERISA Affiliate” means any trade or business (whether or not incorporated)
under common control with the Borrower within the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 
 “ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the Borrower or
any ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a
withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by the Borrower or any ERISA Affiliate from a Multiemployer Plan for which the Borrower or an ERISA Affiliate has withdrawal liability (including, without
limitation, any contingent liability) or notification that a Multiemployer Plan is in reorganization; (d) the filing of a notice of intent to terminate, the treatment of a Plan amendment as a termination under Sections 4041 or 4041A of ERISA,
or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (e) an event or condition which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to
administer, any Pension Plan or Multiemployer Plan; or (f) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate
in excess of the Threshold Amount. 
 “Eurodollar Rate” means 
 (a) for any Interest Period with respect to a Eurodollar Rate Loan, the rate per annum equal to the greater of (x) 3.00%, and
(y) (i) the British Bankers Association LIBOR Rate (“BBA LIBOR”), as published by Reuters (or other commercially available source providing quotations of BBA LIBOR as designated by the Administrative Agent from time to
time) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, for Dollar deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period, or
(ii) if such rate is not available at such time for any reason, the rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the first day of such Interest Period in same day funds in the
approximate amount of the Eurodollar Rate Loan being made, continued or converted by Bank of America and with a term equivalent to such Interest Period would be offered by Bank of America’s London Branch to major banks in the London interbank
eurodollar market at their request at approximately 11:00 a.m. (London time) two Business Days prior to the commencement of such Interest Period; and 
 (b) for any interest calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the greater of (x) 3.00%, and (y) (i) BBA LIBOR, at approximately 11:00 a.m.,
London time determined two Business Days prior to such date for Dollar deposits being delivered in the London interbank market for a term of one month commencing that day or (ii) if such rate is not available at such time for any reason, the
rate per annum determined by the Administrative Agent to be the rate at which deposits in Dollars for delivery on the date of determination in same day funds in the approximate amount of the Base Rate Loan being made or maintained with a term equal
to one month would be offered by Bank of America’s London Branch to major banks in the London interbank eurodollar market at their request at the date and time of determination. 
  

 12 

 “Eurodollar Rate Loan” means a Committed Loan that bears interest at a rate
based on the Eurodollar Rate. 
 “Event of Default” has the meaning specified in Section 8.01.

 “Excess Cash Flow” means, for any fiscal year of the Borrower, the excess (if any) of (a) Consolidated
EBITDA for such fiscal year over (b) the sum (for such fiscal year) of (i) Consolidated Interest Charges actually paid in cash by the Borrower and its Subsidiaries, (ii) principal repayments, to the extent actually made, of
(A) the Term A Loan and the Revolving Credit Loans (in the case of prepayments of the Revolving Credit Loans, only to the extent that a corresponding reduction is made to the Revolving Credit Commitments pursuant to Section 2.06(a))
pursuant to Section 2.05(a) or Section 2.07(b), or (B) of the Revolving Credit Loans to the extent required to effect permanent reductions of the Revolving Credit Commitments pursuant to Section 2.06(a),
(iii) all income taxes resulting from operations actually paid in cash by the Borrower and its Subsidiaries, (iv) Capital Expenditures actually made by the Borrower and its Subsidiaries in such fiscal year, (v) cash paid with respect
to Investments (including acquisitions) permitted under Section 7.10, (vi) cash paid with respect to Restricted Payments permitted under Section 7.09, and (vii) the amount of any cash payments under retirement plans
that is in excess of the amount accrued in determining Consolidated Net Income. 
 “Exchange”
means (i) an offer to exchange, redeem, refinance or repurchase and the exchange, redemption, refinancing or repurchasing with cash and/or notes of the Borrower for all or a portion of the Public Indebtedness, and (ii) any subsequent use
of cash for the Early Retirement of Public Indebtedness, which cash was available for use in a transaction under clause (i) and was not utilized in such transaction. 
 “Exchange Transaction Expenses” means all fees, costs and expenses associated with the Exchange (whether or
not consummated) and paid, payable or reimbursable by the Borrower or its Subsidiaries, including (i) fees and expenses, including amendment fees, related to the negotiation, execution and delivery of Amendment No. 5, (ii) fees and
expenses payable to the Financial Advisors, (iii) fees and expenses payable to the dealer manager, the information agent and the exchange agent, and (iv) fees and expenses of legal counsel and accountants. 
 “Excluded Asset” means (i) a Sale-Leaseback Asset, (ii) excess real property that is leased or subleased,
(iii) any Disposition of assets permitted by Section 7.03(ix), and (iv) any other assets Disposed of pursuant to any other provision of Section 7.03 to the extent that the Net Cash Proceeds of all Dispositions of
such assets in the fiscal year in which such Disposition occurs shall be less than $5,000,000. 
 “Excluded
Issuance” by any Person means an issuance of shares of capital stock of (or other ownership or profit interests in) such Person upon the exercise of warrants, options or other rights for the purchase of such capital stock (or other
ownership or profit interest), including purchases under an employee stock purchase program. 
 “Existing Credit
Agreement” has the meaning specified in the second introductory paragraph hereto. 
  

 13 

 “Existing Letters of Credit” means letters of credit issued and outstanding
under the Existing Credit Agreement as set forth in Schedule 2.03 to the Disclosure Letter, which shall be deemed outstanding as Letters of Credit hereunder as of the Restatement Effective Date pursuant to Section 2.03(a). 

“Facility” means the Term A Facility or the Revolving Credit Facility, as the context may require. 
 “Family Percentage Holding” means the aggregate percentage of the securities held by a Qualified Trust representing,
directly or indirectly, an interest in voting shares or rights to voting shares of the Borrower, that it is reasonable, under all the circumstances, to regard as being held beneficially for Qualified Persons (or any class consisting of two or more
Qualified Persons); provided, always that in calculating the Family Percentage Holding (A) in respect of any power of appointment or discretionary trust capable of being exercised in favor of any of the Qualified Persons such trust or
power shall be deemed to have been exercised in favor of Qualified Persons until such trust or power has been otherwise exercised; (B) where any beneficiary of a Qualified Trust has assigned, transferred or conveyed, in any manner whatsoever,
his or her beneficial interest to another Person, then, for the purpose of determining the Family Percentage Holding in respect of such Qualified Trust, the Person to whom such interest has been assigned, transferred or conveyed shall be regarded as
the only Person beneficially interested in the Qualified Trust in respect of such interest but in the case where the interest so assigned, transferred or conveyed is an interest in a discretionary trust or is an interest which may arise as a result
of the exercise in favor of the assignor of a discretionary power of appointment and such discretionary trust or power of appointment is also capable of being exercised in favor of a Member of McClatchy Family, such discretionary trust or power
shall be deemed to have been so exercised in favor of Qualified Persons until it has in fact been otherwise exercised; and (C) the interest of any Permitted Residuary Beneficiary shall be ignored until its interest has indefeasibly vested.

 “Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on
overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers on such day, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that
(a) if such day is not a Business Day, the Federal Funds Rate for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so
published on such next succeeding Business Day, the Federal Funds Rate for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as
determined by the Administrative Agent. 
 “Fee Letter” means the letter agreement, dated January 5, 2010,
among the Borrower and the Arrangers. 
 “FIN 48” means interpretation no. 48, Accounting for Uncertainty in
Income Taxes – an interpretation of FASB Statement No. 109, issued by the Financial Accounting Standards Board. 
 “Financial Advisors” means Alvarez & Marsal North America, LLC, or any other financial advisor agreed to by the Administrative Agent in writing from time to time. 
  

 14 

 “Foreign Lender” has the meaning specified in
Section 10.14(a)(i). 
 “Foreign Subsidiary” means any Subsidiary that is not organized under the
laws of the United States of America or any state thereof or the District of Columbia. 
 “FRB” means the Board
of Governors of the Federal Reserve System of the United States. 
 “Fund” means any Person (other than a
natural person) that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 
 “GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or such other principles as may be approved by a significant segment of the
accounting profession in the United States, that are applicable to the circumstances as of the date of determination, consistently applied. 
 “Governmental Authority” means any nation or government, any state or other political subdivision thereof, any agency, authority, instrumentality, regulatory body, court, administrative
tribunal, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government. 
 “Guarantee” means, as to any Person, any (a) any obligation, contingent or otherwise, of such Person guaranteeing or
having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person,
direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the
obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or
level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such
Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation
of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person. The amount of any Guarantee shall be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion
thereof, in respect of which such Guarantee is made. The term “Guarantee” as a verb has a corresponding meaning. 
 “Guarantors” means, collectively, the Subsidiaries of the Borrower that shall be required to execute and deliver a guaranty or guaranty supplement pursuant to Section 6.12. 
  

 15 

 “Guaranty” means, collectively, the Guaranty made by the Guarantors in
favor of the Administrative Agent on behalf of the Lenders, substantially in the form of Exhibit G, together with each other guaranty and guaranty supplement delivered pursuant to Section 6.12. 
 “IBOR Rate” means the interest rate at which Bank of America’s Grand Cayman Banking Center, Grand Cayman, British West
Indies, would offer dollar deposits for the applicable interest period to other major banks in the offshore dollar interbank market. 
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan
agreements or other similar instruments; 
 (b) all direct or contingent obligations of such Person arising under letters of
credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net obligations of such Person under any Swap Contract; 
 (d) all obligations of such Person to pay the deferred
purchase price of property or services (other than trade accounts payable in the ordinary course of business); 
 (e)
indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person (including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness
shall have been assumed by such Person or is limited in recourse; 
 (f) Capital Lease Obligations and Synthetic Lease
Obligations; and 
 (g) all Guarantees of such Person in respect of any of the foregoing. 
 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation of such
Person under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. The amount of any capital lease or Synthetic Lease Obligation as of any date shall be deemed to be the amount of Attributable
Indebtedness in respect thereof as of such date. 
 “Indemnitees” has the meaning specified in
Section 10.04(b). 
 “Information” has the meaning specified in Section 10.07.

 “Intercreditor Agreement” means the intercreditor agreement to be entered into by the Administrative Agent
pursuant to Section 7.02(k)(ii). 
  

 16 

 “Interest Payment Date” means, (a) as to any Loan other than a Base
Rate Loan, the last day of each Interest Period applicable to such Loan and the Maturity Date; provided, however, that if any Interest Period for a Eurodollar Rate Loan exceeds three months, the respective dates that fall every three
months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each March, June, September and December and the Maturity Date. 
 “Interest Period” means, as to each Eurodollar Rate Loan, the period commencing on the date such Eurodollar Rate Loan is
disbursed or converted to or continued as a Eurodollar Rate Loan and ending on the date one, two, three or six months thereafter; provided that: 
 (i) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding Business Day unless such Business Day falls in another calendar month, in
which case such Interest Period shall end on the next preceding Business Day; 
 (ii) any Interest Period that
begins on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of
such Interest Period; and 
 (iii) no Interest Period applicable to a Eurodollar Rate Loan that is (A) a
Class A Loan, shall extend beyond the Class A Maturity Date, or (B) a Class B Loan, shall extend beyond the Class B Maturity Date. 
 “Internal Control Event” means a material weakness in, or fraud that involves management or other employees who have a significant role in, the Borrower’s internal controls over
financial reporting, in each case as described in the Securities Laws. 
 “Investment” means, as to any Person,
any direct or indirect acquisition or investment by such Person, whether by means of (a) the purchase or other acquisition of capital stock or other securities of another Person, (b) a loan, advance or capital contribution to, Guarantee or
assumption of debt of, or purchase or other acquisition of any other debt or equity participation or interest in, another Person, including any partnership or joint venture interest in such other Person, or (c) the purchase or other acquisition
(in one transaction or a series of transactions) of assets of another Person that constitute a business unit. For purposes of covenant compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent
increases or decreases in the value of such Investment. 
 “IRS” means the United States Internal Revenue
Service. 
 “ISP” means, with respect to any Letter of Credit, the “International Standby Practices
1998” published by the Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 
 “Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document, agreement and instrument entered into by the L/C Issuer and the
Borrower (or any Subsidiary) or in favor the L/C Issuer and relating to any such Letter of Credit. 
  

 17 

 “KR” means Knight-Ridder, Inc., a Florida corporation. 
 “Later Maturity Public Indebtedness” means the Borrower’s 15.75% Senior Notes due July 15, 2014, 4.625% Notes due
November 1, 2014, 5.750% Notes due September 1, 2017, 7.15% Debentures due November 1, 2027 and 6.875% Debentures due March 15, 2029. 
 “Laws” means, collectively, all international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial
precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties,
requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of law. 
 “L/C Advance” means, with respect to each Revolving Credit Lender, such Lender’s funding of its participation in any L/C Borrowing in accordance with its Applicable Revolving Credit
Percentage. 
 “L/C Borrowing” means an extension of credit resulting from a drawing under any Letter of Credit
which has not been reimbursed on the date when made or refinanced as a Revolving Credit Borrowing. 
 “L/C Credit
Extension” means, with respect to any Letter of Credit, the issuance thereof (including any deemed issuance on the Class B Maturity Date, as contemplated by Section 2.03(a)(i)) or extension of the expiry date thereof, or the
increase of the amount thereof. 
 “L/C Issuer” means Bank of America in its capacity as issuer of Letters of
Credit hereunder, or any successor issuer of Letters of Credit hereunder. 
 “L/C Obligations” means, as at any
date of determination, the aggregate undrawn amount of all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts, including all L/C Borrowings. For all purposes of this Agreement, if on any date of determination a
Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule 3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be
drawn. 
 “Lender” has the meaning specified in the introductory paragraph hereto and, as the context requires,
includes the L/C Issuer and the Swing Line Lender. 
 “Lending Office” means, as to any Lender, the office or
offices of such Lender described as such in such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 
 “Letter of Credit” means any standby letter of credit issued hereunder and shall include the Existing Letters of Credit.

  

 18 

 “Letter of Credit Application” means an application and agreement for the
issuance or amendment of a Letter of Credit in the form from time to time in use by the L/C Issuer. 
 “Letter of Credit
Expiration Date” means the day that is seven days prior to the Class A Maturity Date (or, if such day is not a Business Day, the next preceding Business Day). 
 “Letter of Credit Fee” has the meaning specified in Section 2.03(i). 
 “Letter of Credit Sublimit” means an amount equal to $100,000,000. The Letter of Credit Sublimit is part of, and not in
addition to, the Revolving Credit Facility. 
 “Leveraged Partnership Disposition” has the meaning specified in
Section 7.03(vi). 
 “Lien” means any mortgage, pledge, hypothecation, assignment, deposit
arrangement, encumbrance, lien (statutory or other), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever (including any conditional sale or
other title retention agreement, and any financing lease having substantially the same economic effect as any of the foregoing). 
 “Loan” means an extension of credit by a Lender to the Borrower under Article II in the form of a Committed Loan or a Swing Line Loan. 
 “Loan Parties” means, collectively, the Borrower and, after the Guaranty has been executed, each Guarantor. 
 “Loan Documents” means this Agreement, the Collateral Documents, each Note, each Issuer Document, the Guaranty and the Fee Letter. 
 “Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations,
business, liabilities (actual or contingent), financial condition of the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of the Borrower to perform its obligations under any Loan Document to which it is
a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document to which it is a party. 
 “Material Subsidiary” means a Subsidiary owning assets with a book value of at least $50,000,000. As of the Restatement
Effective Date, all of the Subsidiaries are set forth on Schedule 5.13 to the Disclosure Letter. 
 “Maturity Date” means the Class A Maturity Date and/or the Class B Maturity Date, as the context requires. 
 “Member of the McClatchy Family” shall mean: 
 (i)
the Persons listed on Schedule 1.01 to the Disclosure Letter; 
 (ii) the spouse, for the time being and
from time to time, of any Person listed on Schedule 1.01 to the Disclosure Letter; 
  

 19 

 (iii) after the death of any Person listed on Schedule 1.01 to the
Disclosure Letter, the widow or widower, if any, of any Person listed on Schedule 1.01 to the Disclosure Letter; 
 (iv) the issue of any Person listed on Schedule 1.01 to the Disclosure Letter; 
 (v) individuals
adopted by any Person listed on Schedule 1.01 to the Disclosure Letter or adopted by any of the issue of any Person listed on Schedule 1.01 to the Disclosure Letter, provided, that such individuals have not attained the age of
majority at the date of such adoption, together with the issue of any such adopted individuals; 
 provided that if any
Person is born out of wedlock he shall not be deemed to be the issue of another Person for the purposes hereof unless and until he is proven or acknowledged to be the issue of such Person; or 
 (vi) a Qualified Trust, but only to the extent of its Family Percentage Holding of voting shares or rights to voting shares
of the capital stock of the Borrower at such time. 
 “Merger” means the merger of KR into the Borrower in
accordance with the terms of the Merger Agreement. 
 “Merger Agreement” means that certain Agreement and Plan
of Merger dated as of March 12, 2006 between the Borrower and KR. 
 “Miami Property” means the real
property described in that certain Contract for Purchase and Sale of Real Property effective as of March 3, 2005 by and between The Miami Herald Publishing Company, Richwood, Inc., KR and Citisquare Group, LLC. 
 “Minimum Conditions” means, with respect to the Intercreditor Agreement, provisions contained in Section 5.01 thereof
to ensure Lenders get the benefit of equal treatment in respect of material changes described in the Intercreditor Agreement arising under the Senior Secured Note Documents after the issuance of the Senior Secured Notes. 
 “Moody’s” means Moody’s Investors Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type described in Section 4001(a)(3) of ERISA, to which
the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been obligated to make contributions. 
 “Net Cash Proceeds” means: 
 (a) with respect to any Disposition by the Borrower or any of its Subsidiaries, the excess, if any, of (i) the cash received in connection with such transaction (including any cash received by way of
deferred payment pursuant to, or by monetization of, a note receivable or otherwise, but only as and when so received) over (ii) the sum of (A) the principal amount of any

  

 20 

 
Indebtedness that is secured by the applicable asset and that is required to be repaid in connection with such transaction (other than Indebtedness under the Loan Documents), (B) the
reasonable and customary out-of-pocket expenses incurred by the Borrower or such Subsidiary in connection with such transaction, (C) income taxes reasonably estimated to be actually payable within two years of the date of the relevant
transaction (or, in the case of any installment sale transaction, the amount of such taxes reasonably estimated to be actually payable over the term of such transaction) as a result of any gain recognized in connection therewith, and (D) sales,
use, transfer, value-added, documentary, recording or other taxes or fees reasonably estimated to be actually payable in connection therewith; provided that, if the amount of any estimated taxes pursuant to subclauses (C) or
(D) exceeds the amount of taxes actually required to be paid in cash in respect of such Disposition, the aggregate amount of such excess shall constitute Net Cash Proceeds; and 
 (b) with respect to sale or issuance of any Equity Interest by the Borrower or any Subsidiary, or the incurrence or issuance of any
Indebtedness by the Borrower or any Subsidiary (excluding any Indebtedness under this Agreement), the excess of (i) the cash received in connection with such transaction over (ii) the sum of all underwriting discounts and commissions (if
any) and, except in the case of the issuance of the Senior Secured Notes, other reasonable and customary out-of-pocket expenses, incurred by the Borrower or the applicable Subsidiary in connection therewith. 
 “Non-Guarantor Subsidiary” means (i) any Subsidiary that is a CFC, (ii) any Subsidiary that is held directly or
indirectly by a CFC, or (iii) any Subsidiary which (x) has assets with a book value of less than $5,000,000 in the aggregate, or (y) which, on a stand-alone basis, represented an aggregate amount less than $1,000,000 in the
calculation Consolidated EBITDA for the preceding four fiscal quarters, provided that a Subsidiary may not qualify as a Non-Guarantor Subsidiary under this clause (iii) if, when taken together with all other Subsidiaries which do qualify
as a Non-Guarantor Subsidiary under this clause (iii), it would (x) cause the aggregate book value of such Subsidiaries’ assets to exceed $50,000,000, or (y) represent an aggregate amount greater than $15,000,000 in the calculation
Consolidated EBITDA for the preceding four fiscal quarters. 
 “Note” means a Term Note or Revolving Credit
Note, as the context may require. 
 “Obligations” means all advances to, and debts, liabilities, obligations,
covenants and duties of, any Loan Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now
existing or hereafter arising and including interest and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such
proceeding, regardless of whether such interest and fees are allowed claims in such proceeding. 
 “Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to
any limited liability company, the certificate or articles of formation or organization and operating agreement; and (c) with respect

  

 21 

 
to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or organization and any agreement, instrument,
filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if applicable, any certificate or articles of formation
or organization of such entity. 
 “Other Permitted Payments” means, with respect to the Net Cash Proceeds
derived from the issuance of Senior Secured Notes, the following payments: the reasonable costs and expenses of the Borrower incurred in connection with the amendment and restatement of this Agreement, and the reasonable and customary out-of-pocket
expenses (which shall not include underwriting discounts and commissions (if any)) incurred by the Borrower in connection with the issuance of the Senior Notes, and Permitted Tender Payments made not earlier than the Tender Early Settlement Date and
not later than the Tender Final Settlement Date. 
 “Outstanding Amount” means (i) with respect to
Committed Loans and Swing Line Loans on any date, the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Committed Loans and Swing Line Loans, as the case may be, occurring on such
date; and (ii) with respect to any L/C Obligations on any date, the amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C
Obligations as of such date, including as a result of any reimbursements of outstanding unpaid drawings under any Letters of Credit or any reductions in the maximum amount available for drawing under Letters of Credit taking effect on such date.

 “Participant” has the meaning specified in Section 10.06(d). 
 “PBGC” means the Pension Benefit Guaranty Corporation. 
 “PCAOB” means the Public Company Accounting Oversight Board. 
 “Pension Act” means the Pension Protection Act of 2006. 
 “Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA),
other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the
case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 
 “Permitted Post-Tender Payments” means any amounts payable by the Borrower to purchase, redeem, acquire or retire its 7.125% Notes due June 1, 2011, including any related premium and
any accrued and unpaid interest on such notes. 
 “Permitted Residuary Beneficiary” means any Person who is a
beneficiary of a Qualified Trust and, under the terms of the Qualified Trust, is entitled to distributions out of the capital of such Qualified Trust only after the death of all of the Qualified Persons who are beneficiaries of such Qualified Trust.

  

 22 

 “Permitted Tender Payments” means any amounts payable by the Borrower to
purchase, redeem, acquire or retire its 15.75% Senior Notes due July 15, 2014, or its 7.125% Notes due June 1, 2011, including in each case any related premium and any accrued and unpaid interest on such notes. 
 “Permitted Tender Carry-Forward Limit” means an amount equal to the lesser of (a) the product of (x) the
aggregate principal balance of the Borrower’s 7.125% Notes due June 1, 2011 which were not tendered as of the Tender Final Settlement Date, multiplied by (y) the highest tender price (expressed as a percentage of par value) offered by
the Borrower for its 7.125% Notes due June 1, 2011 in connection with the issuance of the Senior Secured Notes, and (b) the remaining amount of the Net Cash Proceeds from the issuance of the Senior Secured Notes after making the payments
and reductions set forth in the first sentence of Section 2.06(b)(ii) and after making any Other Permitted Payments. 
 “Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” (as such term is defined in Section 3(3) of ERISA) established by
the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 
 “Platform” has the meaning specified in Section 6.02. 
 “Public Indebtedness” means the Senior Secured Notes, and the Borrower’s 7.125% Notes due June 1, 2011, 15.75% Senior Notes due July 15, 2014, 4.625% Notes due November 1, 2014, 5.750% Notes due
September 1, 2017, 7.15% Debentures due November 1, 2027 and 6.875% Debentures due March 15, 2029. 
 “Qualified Bonds” means notes (including convertible notes) issued by the Borrower that are unsecured and not subject to any Guarantee from any Subsidiary. 
 “Qualified Person” means a Person referred to in clauses (i) through (v) of the definition of “Member of the
McClatchy Family” or the spouse, widow or widower for the time being and from time to time of any Person described in clauses (iv) or (v) of the definition of the “Member of the McClatchy Family”. 
 “Qualified Trust” means a trust (whether testamentary or inter vivos) any beneficiary of which is a Qualified Person.

 “Rating” means the Borrower’s debt rating issued by Moody’s or S&P. 
 “Rating Agencies” means S&P and Moody’s. 
 “Register” has the meaning specified in Section 10.07(c). 
 “Reinvestment Asset” means any asset of the type described in Sections 7.03(iv) and 7.03(v) provided
that substantially all of the Net Cash Proceeds realized in connection with the Disposition of such asset shall be reinvested in replacement assets of the same type within 270 days of the Disposition of the original asset. 
  

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 “Related Parties” means, with respect to any Person, such Person’s
Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the 30 day notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a Borrowing, conversion or continuation of Committed Loans, a
Committed Loan Notice, (b) with respect to an L/C Credit Extension, a Letter of Credit Application, and (c) with respect to a Swing Line Loan, a Swing Line Loan Notice. 
 “Required Class A Lenders” means, as of any date of determination, Class A Lenders holding more than 50% of the
sum of (a) the portion of the Total Outstandings attributable to Class A Lenders (with the aggregate amount of each Class A Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line
Loans being deemed “held” by such Class A Revolving Credit Lender for purposes of this definition) and (b) the aggregate unused Class A Revolving Credit Commitments; provided that the unused Class A Revolving
Credit Commitment of, and the portion of the Total Outstandings attributable to Class A Lenders held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Class A Lenders. 

“Required Lenders” means, as of any date of determination, Lenders holding more than 50% of the sum of the
(a) Total Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for
purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit Commitment of, and the portion of the Total Outstandings held or deemed held by, any Defaulting Lender shall be
excluded for purposes of making a determination of Required Lenders. 
 “Required Revolving Lenders” means, as
of any date of determination, Revolving Credit Lenders holding more than 50% of the sum of the (a) Total Revolving Credit Outstandings (with the aggregate amount of each Revolving Credit Lender’s risk participation and funded participation
in L/C Obligations and Swing Line Loans being deemed “held” by such Revolving Credit Lender for purposes of this definition) and (b) aggregate unused Revolving Credit Commitments; provided that the unused Revolving Credit
Commitment of, and the portion of the Total Revolving Credit Outstandings held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Revolving Lenders. 
 “Required Term A Lenders” means, as of any date of determination, Term A Lenders holding more than 50% of the Term A
Facility on such date; provided that the portion of the Term A Facility held by any Defaulting Lender shall be excluded for purposes of making a determination of Required Term A Lenders. 
  

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 “Responsible Officer” means the chief executive officer, president, chief
financial officer, treasurer or assistant treasurer of a Loan Party and any other officer of the applicable Loan Party so designated by any of the foregoing officers in a notice to the Administrative Agent. Any document delivered hereunder that is
signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively
presumed to have acted on behalf of such Loan Party. 
 “Restatement Effective Date” has the meaning set forth
in the Amendment and Restatement Agreement. 
 “Restricted Payment” means (a) any dividend or other
distribution (whether in cash, securities or other property) with respect to any capital stock or other Equity Interest of any Person or any of its Subsidiaries, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, defeasance, acquisition, cancellation or termination of any such capital stock or other Equity Interest, or on account of any return of capital to any Person’s
stockholders, partners or members (or the equivalent of any thereof), or any option, warrant or other right to acquire any such dividend or other distribution or payment and (b) any payment constituting an Early Retirement of any outstanding
Public Indebtedness of such Person. 
 “Revolving Credit Borrowing” means a borrowing consisting of
simultaneous Revolving Credit Loans of the same Type and, in the case of Eurodollar Rate Loans, having the same Interest Period made by each of the Revolving Credit Lenders pursuant to Section 2.01(b) or, in the case of Class A
Lenders only, under Section 2.01(d), as applicable. 
 “Revolving Credit Commitment” means, as to
each Class A Revolving Credit Lender, its Class A Revolving Credit Commitment, and as to each Class B Revolving Credit Lender, its Class B Revolving Credit Commitment. 
 “Revolving Credit Facility” means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit
Commitments at such time. 
 “Revolving Credit Lender” means, at any time, any Lender that has a Revolving
Credit Commitment at such time. 
 “Revolving Credit Loan” means a loan made under Section 2.01(b)
or, in the case of Class A Lenders only, under Section 2.01(d), as applicable. 
 “Revolving Credit
Note” means Class A Revolving Term Note or a Class B Revolving Term Note. 
 “S&P” means
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc. and any successor thereto. 
 “Sale-Leaseback Asset” means any real or personal property that is initially owned by the Borrower or one of its Subsidiaries and is subject or is made subject to an arrangement providing for the Borrower or one of
its Subsidiaries to lease such real or personal property from a Person subsequent to selling or otherwise transferring such property, directly or indirectly, to such Person. 
  

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 “Sarbanes-Oxley” means the Sarbanes-Oxley Act of 2002. 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Securities Laws” means the Securities Act of 1933, the Securities Exchange Act of 1934,
Sarbanes-Oxley, and the applicable accounting and auditing principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the PCAOB. 
 “Security Agreement” means the Security Agreement, dated as of September 26, 2008, by and among the Borrower, the Administrative Agent and the Guarantors party thereto. 

“Security Agreement Joinder” has the meaning specified in Annex 2 of the Security Agreement. 
 “Senior Secured Debt Amount” means the sum of (i) a principal amount (including any unfunded commitments) equal to
$1,150,000,000, less the aggregate amounts of actual prepayments that occur with respect to the Term A Facility and reductions in Commitments that occur with respect to the Revolving Credit Facility, plus (ii) interest and fees accrued
on the amounts specified in clause (i), plus (iii) fees, expenses and other amounts secured under this Agreement and the other Loan Documents or under the documents or instruments governing any financing arrangements that refinance,
refund, renew, extend or otherwise replace this Agreement (or any subsequent refinancings, refundings, renewals, extensions or replacements of any such arrangements). 
 “Senior Secured Note Documents” means the “Senior Secured Notes Documents,” as defined in the Intercreditor Agreement. 
 “Senior Secured Notes” means notes issued by the Borrower having terms consistent with the term sheet approved by the
Administrative Agent and the Required Lenders pursuant to Section 7.02(k)(i), issued in a single settlement (or, if the Senior Secured Notes are issued in one or more series or classes, all such series or classes shall settle
contemporaneously), and including any registered notes issued by the Borrower in exchange therefor and having substantially identical terms as the Senior Secured Notes. 
 “Solvent” and “Solvency” mean, with respect to any Person on any date of determination, that on such date (a) the fair value of the property of such Person is
greater than the total amount of liabilities, including contingent liabilities, of such Person, (b) the present fair salable value of the assets of such Person is not less than the amount that will be required to pay the probable liability of
such Person on its debts as they become absolute and matured, (c) such Person does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s ability to pay such debts and liabilities as they mature,
(d) such Person is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s property would constitute an unreasonably small capital, and (e) such Person is able to pay
its debts and liabilities, contingent obligations and other commitments as they mature in the

  

 26 

 
ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time,
represents the amount that can reasonably be expected to become an actual or matured liability. 
 “Stated
Maturity” means the date on which the principal amount of any Indebtedness is stated to be due and payable in the instrument governing such Indebtedness; provided that any right of the holder of such Indebtedness to require the
issuer of such Indebtedness to redeem, repurchase or prepay such Indebtedness upon the occurrence of a change of control or asset sale will not be deemed to cause an earlier maturity date with respect to such Indebtedness. 
 “Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business
entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than securities or interests having such power only by reason of the happening of a
contingency) are at the time beneficially owned directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all references herein to a “Subsidiary” or to “Subsidiaries” shall
refer to a Subsidiary or Subsidiaries of the Borrower. 
 “Swap Contract” means (a) any and all rate swap
transactions, basis swaps, credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or
forward bond or forward bond price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap
transactions, currency options, spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to
any master agreement, and (b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and
Derivatives Association, Inc., any International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations
or liabilities under any Master Agreement. 
 “Swap Termination Value” means, in respect of any one or more
Swap Contracts, after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s)
determined in accordance therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or
more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or any Affiliate of a Lender). 
 “Swing Line” means the revolving credit facility made available by the Swing Line Lender pursuant to Section 2.04. 
  

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 “Swing Line Borrowing” means a borrowing of a Swing Line Loan pursuant to
Section 2.04. 
 “Swing Line Lender” means Bank of America in its capacity as provider of Swing
Line Loans, or any successor swing line lender hereunder. 
 “Swing Line Loan” has the meaning specified in
Section 2.04(a). 
 “Swing Line Loan Notice” means a notice of a Swing Line Borrowing pursuant to
Section 2.04(b), which, if in writing, shall be substantially in the form of Exhibit B. 
 “Swing Line Sublimit” means an amount equal to the lesser of (a) $120,000,000 and (b) the Revolving Credit Facility. The Swing Line Sublimit is part of, and not in addition to, the Revolving Credit Facility.

 “Syndication Agent” means JPMorgan Chase Bank. 
 “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance
sheet or tax retention lease, or (b) an agreement for the use or possession of property creating obligations that do not appear on the balance sheet of such Person but which, in the case of (a) or (b), upon the insolvency or bankruptcy of
such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 
 “Tender Early Settlement Date” means the earliest date established by the Borrower for the early settlement of accepted tenders of its notes that are the subject a tender offer made in connection with the issuance of the
Senior Secured Notes; provided that such date may be changed by the Borrower as permitted by the terms of its tender offer; provided further that, such date may not occur later than two (2) Business Days after the date for
settlement of the issuance of the Senior Secured Notes. 
 “Tender Final Settlement Date” means the latest date
established by the Borrower for the final settlement of accepted tenders of its notes that are the subject a tender offer made in connection with the issuance of the Senior Secured Notes; provided that such date may be changed by the Borrower
as permitted by the terms of its tender offer; provided further that, such date may not be later than thirty (30) days following the Tender Early Settlement Date. 
 “Term A Facility” means, at any time, the aggregate principal amount of the Term A Loans of all Term A Lenders outstanding
at such time. 
 “Term A Lender” means a Class A Term A Lender and/or a Class B Term A Lender, as the
context requires. 
 “Term A Loan” means a Class A Term A Loan and/or a Class B Term A Loan, as the
context requires. 
 “Term Note” means Class A Term Note and/or a Class B Term Note, as the context
requires. 
  

 28 

 “Threshold Amount” means $50,000,000. 
 “Total Outstandings” means the aggregate Outstanding Amount of all Loans and all L/C Obligations. 
 “Total Revolving Credit Outstandings” means the aggregate Outstanding Amount of all Revolving Credit Loans, Swing Line
Loans and L/C Obligations. 
 “Type” means, with respect to a Committed Loan, its character as a Base Rate Loan
or a Eurodollar Rate Loan. 
 “Unfunded Pension Liability” means the excess of a Pension Plan’s benefit
liabilities under Section 4001(a)(16) of ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the
applicable plan year. 
 “United States” and “U.S.” mean the United States of America. 
 “Unreimbursed Amount” has the meaning specified in Section 2.03(c)(i). 
 “U.S. Loan Party” means any Loan Party that is organized under the laws of one of the states of the United States of
America and is not a CFC. 
 1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan
Document, unless otherwise specified herein or in such other Loan Document: 
 (a) The meanings of defined terms are equally
applicable to the singular and plural forms of the defined terms. 
 (b) (i) The words “herein,”
“hereto,” “hereof” and “hereunder” and words of similar import when used in any Loan Document shall refer to such Loan Document as a whole and not to any particular provision thereof. 
 (ii) Article, Section, Exhibit and Schedule references are to the Loan Document in which such reference appears. 

(iii) The term “including” is by way of example and not limitation. 
 (iv) The term “documents” includes any and all instruments, documents, agreements, certificates, notices,
reports, financial statements and other writings, however evidenced, whether in physical or electronic form. 
 (c) In the
computation of periods of time from a specified date to a later specified date, the word “from” means “from and including;” the words “to” and “until” each mean “to but
excluding;” and the word “through” means “to and including.” 
  

 29 

 (d) Section headings herein and in the other Loan Documents are included for convenience of
reference only and shall not affect the interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting
Terms. (a) All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to
this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise
specifically prescribed herein. 
 (b) If at any time any change in GAAP would affect the computation of any financial ratio or
requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement to preserve the
original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such
change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between
calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 
 1.04 Rounding.
Any financial ratios required to be maintained by the Borrower pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such
ratio is expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 1.05 References to Agreements and Laws. Unless otherwise expressly provided herein, (a) references to Organization Documents, agreements (including the Loan Documents) and other contractual instruments shall be deemed to include
all subsequent amendments, restatements, extensions, supplements and other modifications thereto, but only to the extent that such amendments, restatements, extensions, supplements and other modifications are not prohibited by any Loan Document; and
(b) references to any Law shall include all statutory and regulatory provisions consolidating, amending, replacing, supplementing or interpreting such Law. 
 1.06 Times of Day. Unless otherwise specified, all references herein to times of day shall be references to Pacific time (daylight or standard, as applicable). 
 1.07 Letter of Credit Amounts. Unless otherwise specified, all references herein to the amount of a Letter of Credit at any time
shall be deemed to mean the maximum face amount of such Letter of Credit after giving effect to all increases thereof contemplated by such Letter of Credit or the Issuer Documents related thereto, whether or not such maximum face amount is in effect
at such time. 
  

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 ARTICLE II 
 THE COMMITMENTS AND CREDIT EXTENSIONS 
 2.01 The
Loans. 
 (a) The Term A Loans. Subject to the terms and conditions set forth herein, on the Restatement Effective
Date, each Lender that held a “Term A Loan” under and as defined in the Existing Credit Agreement will be deemed to be a Term A Lender and to have advanced a Term A Loan under this Section 2.01(a). Each such Term A Lender which
is a Designated Extending Lender shall, as of the Restatement Effective Date, be designated as a Class A Term A Lender (holding a Class A Term A Loan), and each other Term A Lender shall be designated as a Class B Term A Lender (holding a
Class B Term A Loan). As of the Restatement Effective Date, the respective Class A Term A Loans owed to each Class A Term A Lender, and the Class B Term A Loans owed to each Class B Term A Lender, are as set forth in Schedule 2.01.
Amounts deemed advanced under this Section 2.01(a) and repaid or prepaid may not be reborrowed. Term A Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. On the Restatement Effective Date, the Term A Loans
are Eurodollar Rate Loans. 
 (b) The Revolving Credit Borrowings Prior to the Class B Maturity Date. Subject to the
terms and conditions set forth herein, on the Restatement Effective Date, each Lender that held a “Revolving Credit Loan” under and as defined in the Existing Credit Agreement will be deemed to be a Revolving Credit Lender and to have
advanced a Revolving Credit Loan under this Section 2.01(b). Each such Revolving Credit Lender which is a Designated Extending Lender shall, as of the Restatement Effective Date, be designated as a Class A Revolving Credit Lender
(holding a Class A Revolving Credit Loan), and each other Revolving Credit Lender shall be designated as a Class B Revolving Credit Lender (holding a Class B Revolving Loan). As of the Restatement Effective Date, the respective Class A
Revolving Credit Loans owed to each Class A Revolving Credit Lender, and the Class B Revolving Credit Loans owed to each Class B Revolving Credit Lender, are as set forth in Schedule 2.01. Subject to the terms and conditions set forth
herein, each Revolving Credit Lender severally agrees to make loans to the Borrower from time to time, on any Business Day during the Class B Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such
Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and
(ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C Obligations, plus such
Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit
Lender’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(b), prepay under Section 2.05, and reborrow under this
Section 2.01(b). Revolving Credit Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. 
 (c) Class B Maturity Date. On the Class B Maturity Date, the Commitments of all Class B Revolving Credit Lenders shall terminate and the Commitments of all Class A Revolving Credit Lenders shall continue on the terms herein set
forth, and, subject to (A) all

  

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Credit Extensions by the Class B Lenders being paid in full on the Class B Maturity Date, and (B) on a pro forma basis immediately after such repayment of the Class B Lenders, the
aggregate Class A Revolving Credit Commitments shall exceed the aggregate Outstanding Amount of the Revolving Credit Loans of each Class A Revolving Credit Lender, plus the Outstanding Amount of all L/C Obligations, plus the
Outstanding Amount of all Swing Line Loans, by an amount not less than $75,000,000: 
 (i) the Borrower shall
prepay the outstanding Revolving Credit Loans in an amount sufficient to reduce the outstanding principal amount thereof to an amount not in excess of the aggregate amount of all Class A Revolving Credit Commitments; 
 (ii) the Applicable Percentage of each Class A Lender shall be adjusted to reflect the termination of the Revolving
Credit Commitments of the Class B Revolving Credit Lenders; and 
 (iii) all outstanding Revolving Credit Loans
shall be continued as Revolving Credit Loans held by all Class A Revolving Credit Lenders ratably in accordance with their respective Applicable Percentages. 
 (d) The Revolving Credit Borrowings After the Class B Maturity Date. Subject to the terms and conditions set forth herein, each Class A Revolving Credit Lender severally agrees to make loans
to the Borrower from time to time, on any Business Day from and including the Class B Maturity Date through the Class A Maturity Date, in an aggregate amount not to exceed at any time outstanding the amount of such Class A Lender’s
Revolving Credit Commitment; provided, however, that after giving effect to any Revolving Credit Borrowing, (i) the Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, and (ii) the aggregate
Outstanding Amount of the Revolving Credit Loans of any Lender, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Credit Lender’s
Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Revolving Credit Lender’s Revolving Credit Commitment. Within the limits of each Revolving Credit Lender’s Revolving Credit
Commitment, and subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.01(d), prepay under Section 2.05, and reborrow under this Section 2.01(d). Revolving Credit Loans may
be Base Rate Loans or Eurodollar Rate Loans, as further provided herein. 
 2.02 Borrowings, Conversions and Continuations of
Committed Loans. 
 (a) Each Committed Borrowing, each conversion of Committed Loans from one Type to the other, and each
continuation of Eurodollar Rate Loans shall be made upon the Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 10:00 a.m.
(i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurodollar Rate Loans or of any conversion of Eurodollar Rate Loans to Base Rate Loans, and (ii) on the requested date of any
Borrowing of Base Rate Loans. Each telephonic notice by the Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately completed and
signed

  

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by a Responsible Officer of the Borrower. Each Borrowing of, conversion to or continuation of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000
in excess thereof. Except as provided in Sections 2.03(c) and 2.04(c), each Borrowing of or conversion to Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof. Each Committed
Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower is requesting a Revolving Credit Borrowing, a conversion of Committed Loans from one Type to the other, or a continuation of Eurodollar Rate Loans, (ii) the
requested date of the Borrowing, conversion or continuation, as the case may be (which shall be a Business Day), (iii) the principal amount of Committed Loans to be borrowed, converted or continued, (iv) the Type of Committed Loans to be
borrowed or to which existing Committed Loans are to be converted, and (v) if applicable, the duration of the Interest Period with respect thereto. If the Borrower fails to specify a Type of Committed Loan in a Committed Loan Notice or if the
Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Committed Loans shall be made as, or converted to, Base Rate Loans. Any such automatic conversion to Base Rate Loans shall be effective as of the
last day of the Interest Period then in effect with respect to the applicable Eurodollar Rate Loans. If the Borrower requests a Borrowing of, conversion to, or continuation of Eurodollar Rate Loans in any such Committed Loan Notice, but fails to
specify an Interest Period, it will be deemed to have specified an Interest Period of one month. 
 (b) Following receipt of a
Committed Loan Notice, the Administrative Agent shall promptly notify each Lender of the amount of its Applicable Percentage of the applicable Committed Loans, and if no timely notice of a conversion or continuation is provided by the Borrower, the
Administrative Agent shall notify each Lender of the details of any automatic conversion to Base Rate Loans described in the preceding subsection. In the case of a Committed Borrowing, each Appropriate Lender shall make the amount of its Committed
Loan available to the Administrative Agent in immediately available funds at the Administrative Agent’s Office not later than 12:00 noon on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable
conditions set forth in Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Administrative Agent shall make all funds so received available to the Borrower in like funds as received by the
Administrative Agent either by (i) crediting the account of the Borrower on the books of Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and
reasonably acceptable to) the Administrative Agent by the Borrower; provided, however, that if, on the date the Committed Loan Notice with respect to a Revolving Credit Borrowing is given by the Borrower, there are L/C Borrowings
outstanding, then the proceeds of such Revolving Credit Borrowing, first, shall be applied to the payment in full of any such L/C Borrowings, and second, shall be made available to the Borrower as provided above. 
 (c) Except as otherwise provided herein, a Eurodollar Rate Loan may be continued or converted only on the last day of an Interest Period for
such Eurodollar Rate Loan. During the existence of a Default, no Loans may be requested as, converted to or continued as Eurodollar Rate Loans without the consent of the Required Lenders. 
 (d) The Administrative Agent shall promptly notify the Borrower and the Lenders of the interest rate applicable to any Interest Period for
Eurodollar Rate Loans upon determination

  

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of such interest rate. The determination of the Eurodollar Rate by the Administrative Agent shall be conclusive in the absence of manifest error. At any time that Base Rate Loans are outstanding,
the Administrative Agent shall notify the Borrower and the Lenders of any change in Bank of America’s prime rate used in determining the Base Rate promptly following the public announcement of such change. 
 (e) After giving effect to all conversions of Term A Loans from one Type to the other, and all continuations of Term A Loans as the same
Type, there shall not be more than 15 Interest Periods in effect in respect of the Term A Facility. After giving effect to all Revolving Credit Borrowings, all conversions of Revolving Credit Loans from one Type to the other, and all continuations
of Revolving Credit Loans as the same Type, there shall not be more than 15 Interest Periods in effect in respect of the Revolving Credit Facility. 
 2.03 Letters of Credit. 
 (a) The Letter of Credit Commitment.

 (i) Subject to the terms and conditions set forth herein, (A) the L/C Issuer agrees, in reliance upon the
agreements of the Revolving Credit Lenders set forth in this Section 2.03, (1) from time to time on any Business Day during the period from the Restatement Effective Date until the Letter of Credit Expiration Date, to issue Letters
of Credit for the account of the Borrower, and to amend or extend Letters of Credit previously issued by it, in accordance with subsection (b) below, and (2) to honor drawings under the Letters of Credit; and (B) the Revolving Credit
Lenders severally agree to participate in Letters of Credit issued for the account of the Borrower and any drawings thereunder; provided that after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the
Total Revolving Credit Outstandings shall not exceed the Revolving Credit Facility, (y) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving Credit Lender, plus such Lender’s Applicable Revolving Credit
Percentage of the Outstanding Amount of all L/C Obligations, plus such Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Credit Commitment, and
(z) the Outstanding Amount of the L/C Obligations shall not exceed the Letter of Credit Sublimit. Each request by the Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the Borrower that the
L/C Credit Extension so requested complies with the conditions set forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the Borrower’s ability to obtain Letters of Credit
shall be fully revolving, and accordingly the Borrower may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. All Existing Letters of Credit shall be
deemed to have been issued pursuant hereto, and from and after the Restatement Effective Date shall be subject to and governed by the terms and conditions hereof. On the Class B Maturity Date, the Borrower shall be deemed to have requested the
transfer of all Letters of Credit then outstanding to the Class A Revolving Credit Commitments and, subject to satisfaction of the conditions set forth in Section 2.01(c), all such Letters of Credit shall be deemed to have been
issued pursuant to the Class A Revolving Credit Commitments and shall be subject to and

  

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governed by the terms and conditions hereof. If, after giving effect to such transfer, the Borrower shall not be in compliance with the conditions set forth in the proviso to the first sentence
of this Section 2.03(a)(i), such circumstances shall constitute an Event of Default. 
 (ii) The L/C
Issuer shall not issue any Letter of Credit, if: 
 (A) subject to Section 2.03(b)(iii), the expiry
date of such requested Letter of Credit would occur more than twelve months after the date of issuance or last extension, unless the Required Revolving Lenders have approved such expiry date; or 
 (B) the expiry date of such requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless all the
Revolving Credit Lenders have approved such expiry date. 
 (iii) The L/C Issuer shall not be under any
obligation to issue any Letter of Credit if: 
 (A) any order, judgment or decree of any Governmental Authority
or arbitrator shall by its terms purport to enjoin or restrain the L/C Issuer from issuing such Letter of Credit, or any Law applicable to the L/C Issuer or any request or directive (whether or not having the force of law) from any Governmental
Authority with jurisdiction over the L/C Issuer shall prohibit, or request that the L/C Issuer refrain from, the issuance of letters of credit generally or such Letter of Credit in particular or shall impose upon the L/C Issuer with respect to such
Letter of Credit any restriction, reserve or capital requirement (for which the L/C Issuer is not otherwise compensated hereunder) not in effect on the Restatement Effective Date, or shall impose upon the L/C Issuer any loss, cost or expense which
is not reimbursable hereunder and was not applicable on the Restatement Effective Date and which the L/C Issuer in good faith deems material to it; 
 (B) the issuance of such Letter of Credit would violate any Laws or one or more policies of the L/C Issuer (which policies do not apply solely to the Borrower); 
 (C) except as otherwise agreed by the Administrative Agent and the L/C Issuer, such Letter of Credit is in an initial face
amount less than $100,000; 
 (D) such Letter of Credit is to be denominated in a currency other than Dollars;

 (E) such Letter of Credit contains any provisions for automatic reinstatement of the stated amount after any
drawing thereunder; or 
 (F) a default of any Lender’s obligations to fund under
Section 2.03(c) exists or any Lender is at such time a Defaulting Lender hereunder, unless the L/C Issuer has entered into satisfactory arrangements with the Borrower or such Lender to eliminate the L/C Issuer’s risk with respect to
such Lender. 
  

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 (iv) The L/C Issuer shall not amend any Letter of Credit if the L/C Issuer
would not be permitted at such time to issue such Letter of Credit in its amended form under the terms hereof. 
 (v) The L/C Issuer shall be under no obligation to amend any Letter of Credit if the beneficiary of such Letter of Credit does not accept the proposed amendment to such Letter of Credit. 
 (vi) The L/C Issuer shall act on behalf of the Revolving Credit Lenders with respect to any Letters of Credit issued by it
and the documents associated therewith, and the L/C Issuer shall have all of the benefits and immunities (A) provided to the Administrative Agent in Article IX with respect to any acts taken or omissions suffered by the L/C Issuer in
connection with Letters of Credit issued by it or proposed to be issued by it and Letter of Credit Applications pertaining to such Letters of Credit as fully as if the term “Administrative Agent” as used in Article IX included the
L/C Issuer with respect to such acts or omissions, and (B) as additionally provided herein with respect to the L/C Issuer. 
 (b) Procedures for Issuance and Amendment of Letters of Credit; Auto-Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the request of the Borrower delivered to the L/C Issuer (with a copy to the Administrative Agent) in the form of a Letter of Credit Application, appropriately
completed and signed by a Responsible Officer of the Borrower. Such Letter of Credit Application must be received by the L/C Issuer and the Administrative Agent not later than 10:00 a.m. at least two Business Days (or such later date and time as the
Administrative Agent and the L/C Issuer may agree in a particular instance in their sole discretion) prior to the proposed issuance date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of
Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the L/C Issuer: (A) the proposed issuance date of the requested Letter of Credit (which shall be a Business Day); (B) the amount thereof;
(C) the expiry date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by
such beneficiary in case of any drawing thereunder; and (G) such other matters as the L/C Issuer may reasonably require. In the case of a request for an amendment of any outstanding Letter of Credit, such Letter of Credit Application shall
specify in form and detail satisfactory to the L/C Issuer (A) the Letter of Credit to be amended; (B) the proposed date of amendment thereof (which shall be a Business Day); (C) the nature of the proposed amendment; and (D) such
other matters as the L/C Issuer may reasonably require. Additionally, the Borrower shall furnish to the L/C Issuer and the Administrative Agent such other documents and information pertaining to such requested Letter of Credit issuance or amendment,
including any Issuer Documents, as the L/C Issuer or the Administrative Agent may reasonably require. 
  

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 (ii) Promptly after receipt of any Letter of Credit Application, the L/C
Issuer will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has received a copy of such Letter of Credit Application from the Borrower and, if not, the L/C Issuer will provide the Administrative Agent
with a copy thereof. Unless the L/C Issuer has received written notice from any Revolving Credit Lender, the Administrative Agent or any Loan Party, at least one Business Day prior to the requested date of issuance or amendment of the applicable
Letter of Credit, that one or more applicable conditions contained in Article IV shall not then be satisfied, then, subject to the terms and conditions hereof, the L/C Issuer shall, on the requested date, issue a Letter of Credit for the
account of the Borrower or enter into the applicable amendment, as the case may be, in each case in accordance with the L/C Issuer’s usual and customary business practices. Immediately upon the issuance of each Letter of Credit, each Revolving
Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees to, purchase from the L/C Issuer a risk participation in such Letter of Credit in an amount equal to the product of such Revolving Credit Lender’s Applicable
Revolving Credit Percentage times the amount of such Letter of Credit. 
 (iii) If the Borrower so
requests in any applicable Letter of Credit Application, the L/C Issuer may, in its sole and absolute discretion, agree to issue a Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of
Credit”); provided that any such Auto-Extension Letter of Credit must permit the L/C Issuer to prevent any such extension at least once in each twelve-month period (commencing with the date of issuance of such Letter of Credit) by
giving prior notice to the beneficiary thereof not later than a day (the “Non-Extension Notice Date”) in each such twelve-month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the
L/C Issuer, the Borrower shall not be required to make a specific request to the L/C Issuer for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Revolving Credit Lenders shall be deemed to have authorized (but may not
require) the L/C Issuer to permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit Expiration Date; provided, however, that the L/C Issuer shall not permit any such extension if
(A) the L/C Issuer has determined that it would not be permitted, or would have no obligation, at such time to issue such Letter of Credit in its revised form (as extended) under the terms hereof (by reason of the provisions of clause
(ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the day that is five Business Days before the Non-Extension Notice Date (1) from the
Administrative Agent that the Required Revolving Lenders have elected not to permit such extension or (2) from the Administrative Agent, any Revolving Credit Lender or the Borrower that one or more of the applicable conditions specified in
Section 4.02 is not then satisfied, and in each such case directing the L/C Issuer not to permit such extension. 
 (iv) Promptly after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the L/C Issuer will also deliver to
the Borrower and the Administrative Agent a true and complete copy of such Letter of Credit or amendment. 
  

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 (c) Drawings and Reimbursements; Funding of Participations. 
 (i) Upon receipt from the beneficiary of any Letter of Credit of any notice of a drawing under such Letter of Credit, the L/C
Issuer shall notify the Borrower and the Administrative Agent thereof. Not later than 3:00 p.m. on the date of any payment by the L/C Issuer under a Letter of Credit (each such date, an “Honor Date”), the Borrower shall reimburse
the L/C Issuer through the Administrative Agent in an amount equal to the amount of such drawing. If the Borrower fails to so reimburse the L/C Issuer by such time, the Administrative Agent shall promptly notify each Revolving Credit Lender of the
Honor Date, the amount of the unreimbursed drawing (the “Unreimbursed Amount”), and the amount of such Revolving Credit Lender’s Applicable Revolving Credit Percentage thereof. In such event, the Borrower shall be deemed to
have requested a Revolving Credit Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the Unreimbursed Amount, without regard to the minimum and multiples specified in Section 2.02 for the principal
amount of Base Rate Loans (which minimum requirements are hereby waived by the Lenders for this purpose), but subject to the amount of the unutilized portion of the Revolving Credit Commitments and the conditions set forth in
Section 4.02 (other than the delivery of a Committed Loan Notice). Any notice given by the L/C Issuer or the Administrative Agent pursuant to this Section 2.03(c)(i) may be given by telephone if immediately confirmed in
writing; provided that the lack of such an immediate confirmation shall not affect the conclusiveness or binding effect of such notice. 
 (ii) Each Revolving Credit Lender (including the Lender acting as L/C Issuer) shall upon any notice pursuant to Section 2.03(c)(i) make funds available to the Administrative Agent for the
account of the L/C Issuer at the Administrative Agent’s Office in an amount equal to its Applicable Revolving Credit Percentage of the Unreimbursed Amount not later than 12:00 noon on the Business Day specified in such notice by the
Administrative Agent, whereupon, subject to the provisions of Section 2.03(c)(iii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The
Administrative Agent shall remit the funds so received to the L/C Issuer. 
 (iii) With respect to any
Unreimbursed Amount that is not fully refinanced by a Revolving Credit Borrowing of Base Rate Loans because the conditions set forth in Section 4.02 cannot be satisfied or for any other reason, the Borrower shall be deemed to have
incurred from the L/C Issuer an L/C Borrowing in the amount of the Unreimbursed Amount that is not so refinanced, which L/C Borrowing shall be due and payable on demand (together with interest) and shall bear interest for the first Business Day at
the Base Rate and thereafter at the Default Rate. In such event, each Revolving Credit Lender’s payment to the Administrative Agent for the account of the L/C Issuer pursuant to Section 2.03(c)(ii) shall be deemed payment in respect
of its participation in such L/C Borrowing and shall constitute an L/C Advance from such Lender in satisfaction of its participation obligation under this Section 2.03. 
  

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 (iv) Until each Revolving Credit Lender funds its Revolving Credit Loan or
L/C Advance pursuant to this Section 2.03(c) to reimburse the L/C Issuer for any amount drawn under any Letter of Credit, interest in respect of such Lender’s Applicable Revolving Credit Percentage of such amount shall be solely for
the account of the L/C Issuer. 
 (v) Each Revolving Credit Lender’s obligation to make Revolving Credit
Loans or L/C Advances to reimburse the L/C Issuer for amounts drawn under Letters of Credit, as contemplated by this Section 2.03(c), shall be absolute and unconditional and shall not be affected by any circumstance, including
(A) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the L/C Issuer, the Borrower or any other Person for any reason whatsoever; (B) the occurrence or continuance of a Default, or
(C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Credit Lender’s obligation to make Revolving Credit Loans pursuant to this
Section 2.03(c) is subject to the conditions set forth in Section 4.02 (other than delivery by the Borrower of a Committed Loan Notice). No such making of an L/C Advance shall relieve or otherwise impair the obligation of the
Borrower to reimburse the L/C Issuer for the amount of any payment made by the L/C Issuer under any Letter of Credit, together with interest as provided herein. 
 (vi) If any Revolving Credit Lender fails to make available to the Administrative Agent for the account of the L/C Issuer any
amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.03(c) by the time specified in Section 2.03(c)(ii), the L/C Issuer shall be entitled to recover from such Lender (acting through
the Administrative Agent), on demand, such amount with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the L/C Issuer at a rate per annum equal to the Federal Funds
Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the L/C Issuer in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid), the amount so paid
shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or L/C Advance in respect of the relevant L/C Borrowing, as the case may be. A certificate of the L/C Issuer submitted to any Revolving Credit Lender
(through the Administrative Agent) with respect to any amounts owing under this clause (vi) shall be conclusive absent manifest error. 
 (d) Repayment of Participations. 
 (i) At any time after the
L/C Issuer has made a payment under any Letter of Credit and has received from any Revolving Credit Lender such Lender’s L/C Advance in respect of such payment in accordance with Section 2.03(c), if the Administrative Agent receives
for the account of the L/C Issuer any payment in respect of the related Unreimbursed Amount or interest thereon (whether directly from the Borrower or otherwise, including proceeds of Cash Collateral applied thereto by the Administrative Agent), the
Administrative Agent will distribute to such Lender its Applicable Revolving Credit Percentage thereof (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s L/C Advance was
outstanding) in the same funds as those received by the Administrative Agent. 
  

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 (ii) If any payment received by the Administrative Agent for the account of
the L/C Issuer pursuant to Section 2.03(c)(i) is required to be returned under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the L/C Issuer in its discretion), each
Revolving Credit Lender shall pay to the Administrative Agent for the account of the L/C Issuer its Applicable Revolving Credit Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date
such amount is returned by such Lender, at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of
this Agreement. 
 (e) Obligations Absolute. The obligation of the Borrower to reimburse the L/C Issuer for each
drawing under each Letter of Credit and to repay each L/C Borrowing shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following:

 (i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan
Document; 
 (ii) the existence of any claim, counterclaim, set-off, defense or other right that the Borrower or
any Subsidiary may have at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the L/C Issuer or any other Person, whether in connection with
this Agreement, the transactions contemplated hereby or by such Letter of Credit or any agreement or instrument relating thereto, or any unrelated transaction; 
 (iii) any draft, demand, certificate or other document presented under such Letter of Credit proving to be forged,
fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing under such Letter of
Credit; 
 (iv) any payment by the L/C Issuer under such Letter of Credit against presentation of a draft or
certificate that does not strictly comply with the terms of such Letter of Credit; or any payment made by the L/C Issuer under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the
benefit of creditors, liquidator, receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; or 
 (v) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Borrower or any of its Subsidiaries. 
  

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 The Borrower shall promptly examine a copy of each Letter of Credit and each amendment
thereto that is delivered to it and, in the event of any claim of noncompliance with the Borrower’s instructions or other irregularity, the Borrower will promptly notify the L/C Issuer. The Borrower shall be conclusively deemed to have waived
any such claim against the L/C Issuer and its correspondents unless such notice is given as aforesaid. 
 (f) Role of L/C
Issuer. Each Lender and the Borrower agree that, in paying any drawing under a Letter of Credit, the L/C Issuer shall not have any responsibility to obtain any document (other than any sight draft, certificates and documents expressly
required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the authority of the Person executing or delivering any such document. None of the L/C Issuer, the Administrative Agent, any of their
respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer shall be liable to any Lender for (i) any action taken or omitted in connection herewith at the request or with the approval of the Revolving Credit
Lenders or the Required Revolving Lenders, as applicable; (ii) any action taken or omitted in the absence of gross negligence or willful misconduct; or (iii) the due execution, effectiveness, validity or enforceability of any document or
instrument related to any Letter of Credit or Letter of Credit Application. The Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided,
however, that this assumption is not intended to, and shall not, preclude the Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the L/C Issuer,
the Administrative Agent, any of their respective Related Parties nor any correspondent, participant or assignee of the L/C Issuer, shall be liable or responsible for any of the matters described in clauses (i) through (v) of
Section 2.03(e); provided, however, that anything in such clauses to the contrary notwithstanding, the Borrower may have a claim against the L/C Issuer, and the L/C Issuer may be liable to the Borrower, to the extent, but
only to the extent, of any direct, as opposed to consequential or exemplary, damages suffered by the Borrower which the Borrower proves were caused by the L/C Issuer’s willful misconduct or gross negligence or the L/C Issuer’s willful
failure to pay under any Letter of Credit after the presentation to it by the beneficiary of a sight draft and certificate(s) strictly complying with the terms and conditions of a Letter of Credit. In furtherance and not in limitation of the
foregoing, the L/C Issuer may accept documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the L/C Issuer shall not be responsible for the
validity or sufficiency of any instrument transferring or assigning or purporting to transfer or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective
for any reason. None of the Lenders nor any of their Affiliates shall have any liability or responsibility to the Borrower by reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or failure to make any
payment thereunder (irrespective of any of the circumstances referred to in clauses (i) through (v) of Section 2.03(e)), or any error, omission, interruption, loss or delay in transmission or delivery of any draft, notice or
other communication under or relating to any Letter of Credit (including any document required to make a drawing thereunder), any error in interpretation of technical terms or any consequence arising from causes beyond the control of the L/C Issuer.

 (g) Cash Collateral. Upon the request of the Administrative Agent, (i) if the L/C Issuer has honored any full or
partial drawing request under any Letter of Credit and such

  

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drawing has resulted in an L/C Borrowing, or (ii) if, as of the Letter of Credit Expiration Date, any Letter of Credit for any reason remains outstanding and partially or wholly undrawn, the
Borrower shall immediately Cash Collateralize the then Outstanding Amount of all L/C Obligations (in an amount equal to such Outstanding Amount determined as of the date of such L/C Borrowing or the Letter of Credit Expiration Date, as the case may
be). Sections 2.05 and 8.02(c) set forth certain additional requirements to deliver Cash Collateral hereunder. For purposes of this Section 2.03, Section 2.05 and Section 8.02(c), “Cash
Collateralize” means to pledge and deposit with or deliver to the Administrative Agent, for the benefit of the L/C Issuer and the Lenders, as collateral for the L/C Obligations, cash or deposit account balances pursuant to documentation in
form and substance satisfactory to the Administrative Agent and the L/C Issuer (which documents are hereby consented to by the Lenders). Derivatives of such term have corresponding meanings. The Borrower hereby grants to the Administrative Agent,
for the benefit of the L/C Issuer and the Lenders, a security interest in all such cash, deposit accounts and all balances therein and all proceeds of the foregoing. Cash Collateral shall be maintained in blocked, non-interest bearing deposit
accounts at Bank of America. 
 (h) Applicability of ISP98 and UCP. Unless otherwise expressly agreed by the L/C
Issuer and the Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. 
 (i) Letter of Credit Fees. The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in
accordance with its Applicable Revolving Credit Percentage a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the daily maximum amount available to be drawn under
such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit). Letter of Credit Fees shall be (i) computed on a quarterly basis in arrears and (ii) due and payable on the first Business Day after
the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Class B Maturity Date (solely with respect to the Class B Revolving Credit Lenders), on the Letter
of Credit Expiration Date and thereafter on demand. If there is any change in the Applicable Rate during any quarter, the daily maximum amount of each Letter of Credit shall be computed and multiplied by the Applicable Rate separately for each
period during such quarter that such Applicable Rate was in effect. Notwithstanding anything to the contrary contained herein, during the existence of any Event of Default under Section 8.01(a), upon the request of the Required Revolving
Lenders, all Letter of Credit Fees shall accrue at the Default Rate. 
 (j) Fronting Fee and Documentary and Processing
Charges Payable to L/C Issuer. The Borrower shall pay directly to the L/C Issuer for its own account a fronting fee with respect to each Letter of Credit in the amount specified in the Fee Letter, payable on the actual daily maximum
amount available to be drawn under such Letter of Credit (whether or not such maximum amount is then in effect under such Letter of Credit). Such fronting fee shall be computed on a quarterly basis in arrears. Such fronting fee shall be due and
payable on the first Business Day after the end of each March, June, September and December, commencing with the first such date to occur after the issuance of such Letter of Credit, on the Letter of Credit Expiration Date and thereafter on demand.
In addition, the Borrower shall pay directly to the L/C Issuer for its own account the customary issuance, presentation, amendment and other

  

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processing fees, and other standard costs and charges, of the L/C Issuer relating to letters of credit as from time to time in effect. Such customary fees and standard costs and charges are due
and payable on demand and are nonrefundable. 
 (k) Conflict with Issuer Documents. In the event of any conflict between
the terms hereof and the terms of any Issuer Document, the terms hereof shall control. 
 2.04 Swing Line Loans.

 (a) The Swing Line. Subject to the terms and conditions set forth herein, the Swing Line Lender agrees, in reliance
upon the agreements of the other Lenders set forth in this Section 2.04, to make loans (each such loan, a “Swing Line Loan”) to the Borrower from time to time on any Business Day during the Availability Period in an
aggregate amount not to exceed at any time outstanding the amount of the Swing Line Sublimit, notwithstanding the fact that such Swing Line Loans, when aggregated with the Applicable Revolving Credit Percentage of the Outstanding Amount of Revolving
Credit Loans and L/C Obligations of the Lender acting as Swing Line Lender, may exceed the amount of such Lender’s Revolving Credit Commitment; provided, however, that after giving effect to any Swing Line Loan, (i) the Total
Revolving Credit Outstandings shall not exceed the Revolving Credit Facility at such time, and (ii) the aggregate Outstanding Amount of the Revolving Credit Loans of any Revolving Credit Lender, plus such Revolving Credit Lender’s
Applicable Revolving Credit Percentage of the Outstanding Amount of all L/C Obligations, plus such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such
Revolving Credit Lender’s Revolving Credit Commitment, and provided, further, that the Borrower shall not use the proceeds of any Swing Line Loan to refinance any outstanding Swing Line Loan. Within the foregoing limits, and
subject to the other terms and conditions hereof, the Borrower may borrow under this Section 2.04, prepay under Section 2.05, and reborrow under this Section 2.04. Each Swing Line Loan shall bear interest at the
IBOR Rate for interest periods of one day plus the Applicable Rate for Eurodollar Rate Loans. Immediately upon the making of a Swing Line Loan, each Revolving Credit Lender shall be deemed to, and hereby irrevocably and unconditionally agrees
to, purchase from the Swing Line Lender a risk participation in such Swing Line Loan in an amount equal to the product of such Revolving Credit Lender’s Applicable Revolving Credit Percentage times the amount of such Swing Line Loan.

 (b) Borrowing Procedures. Each Swing Line Borrowing shall be made upon the Borrower’s irrevocable notice to the
Swing Line Lender and the Administrative Agent, which may be given by telephone. Each such notice must be received by the Swing Line Lender and the Administrative Agent not later than 1:00 p.m. on the requested borrowing date, and shall specify
(i) the amount to be borrowed, which shall be a minimum of $500,000 or, in the case of a Swing Line Loan used to reimburse an L/C Borrowing, the amount of such L/C Borrowing, and (ii) the requested borrowing date, which shall be a Business
Day. Each such telephonic notice must be confirmed promptly by delivery to the Swing Line Lender and the Administrative Agent of a written Swing Line Loan Notice, appropriately completed and signed by a Responsible Officer of the Borrower. Promptly
after receipt by the Swing Line Lender of any telephonic Swing Line Loan Notice, the Swing Line Lender will confirm with the Administrative Agent (by telephone or in writing) that the Administrative Agent has also received such Swing Line Loan
Notice and, if not, the Swing Line Lender will notify the Administrative Agent (by telephone or in writing)

  

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of the contents thereof. Unless the Swing Line Lender has received notice (by telephone or in writing) from the Administrative Agent (including at the request of any Revolving Credit Lender)
prior to 12:00 noon on the date of the proposed Swing Line Borrowing (A) directing the Swing Line Lender not to make such Swing Line Loan as a result of the limitations set forth in the proviso to the first sentence of
Section 2.04(a), or (B) that one or more of the applicable conditions specified in Article IV is not then satisfied, then, subject to the terms and conditions hereof, the Swing Line Lender will, not later than 2:30 p.m. on
the borrowing date specified in such Swing Line Loan Notice, make the amount of its Swing Line Loan available to the Borrower at its office by crediting the account of the Borrower on the books of the Swing Line Lender in immediately available
funds. 
 (c) Refinancing of Swing Line Loans. 
 (i) The Swing Line Lender at any time in its sole and absolute discretion may request, on behalf of the Borrower (which
hereby irrevocably authorizes the Swing Line Lender to so request on its behalf), that each Revolving Credit Lender make a Base Rate Loan in an amount equal to such Revolving Credit Lender’s Applicable Revolving Credit Percentage of the amount
of Swing Line Loans then outstanding. Such request shall be made in writing (which written request shall be deemed to be a Committed Loan Notice for purposes hereof) and in accordance with the requirements of Section 2.02, without regard
to the minimum and multiples specified therein for the principal amount of Base Rate Loans, but subject to the unutilized portion of the Revolving Credit Facility and the conditions set forth in Section 4.02. The Swing Line Lender shall
furnish the Borrower with a copy of the applicable Committed Loan Notice promptly after delivering such notice to the Administrative Agent. Each Revolving Credit Lender shall make an amount equal to its Applicable Revolving Credit Percentage of the
amount specified in such Committed Loan Notice available to the Administrative Agent in immediately available funds for the account of the Swing Line Lender at the Administrative Agent’s Office not later than 12:00 noon on the day specified in
such Committed Loan Notice, whereupon, subject to Section 2.04(c)(ii), each Revolving Credit Lender that so makes funds available shall be deemed to have made a Base Rate Loan to the Borrower in such amount. The Administrative Agent
shall remit the funds so received to the Swing Line Lender. 
 (ii) If for any reason any Swing Line Loan cannot
be refinanced by such a Revolving Credit Borrowing in accordance with Section 2.04(c)(i), the request for Base Rate Loans submitted by the Swing Line Lender as set forth herein shall be deemed to be a request by the Swing Line Lender
that each of the Revolving Credit Lenders fund its risk participation in the relevant Swing Line Loan and each Revolving Credit Lender’s payment to the Administrative Agent for the account of the Swing Line Lender pursuant to
Section 2.04(c)(i) shall be deemed payment in respect of such participation. 
 (iii) If any
Revolving Credit Lender fails to make available to the Administrative Agent for the account of the Swing Line Lender any amount required to be paid by such Lender pursuant to the foregoing provisions of this Section 2.04(c) by the time
specified in Section 2.04(c)(i), the Swing Line Lender shall be entitled to recover from such Lender (acting through the Administrative Agent), on demand, such amount

  

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with interest thereon for the period from the date such payment is required to the date on which such payment is immediately available to the Swing Line Lender at a rate per annum equal to the
Federal Funds Rate from time to time in effect, plus any administrative, processing or similar fees customarily charged by the Swing Line Lender in connection with the foregoing. If such Lender pays such amount (with interest and fees as aforesaid),
the amount so paid shall constitute such Lender’s Committed Loan included in the relevant Committed Borrowing or funded participation in the relevant Swing Line Loan, as the case may be. A certificate of the Swing Line Lender submitted to any
Lender (through the Administrative Agent) with respect to any amounts owing under this clause (iii) shall be conclusive absent manifest error. 
 (iv) Each Revolving Credit Lender’s obligation to make Revolving Credit Loans or to purchase and fund risk participations in Swing Line Loans pursuant to this Section 2.04(c) shall be
absolute and unconditional and shall not be affected by any circumstance, including (A) any set-off, counterclaim, recoupment, defense or other right which such Lender may have against the Swing Line Lender, the Borrower or any other Person for
any reason whatsoever, (B) the occurrence or continuance of a Default, or (C) any other occurrence, event or condition, whether or not similar to any of the foregoing; provided, however, that each Revolving Credit
Lender’s obligation to make Revolving Credit Loans pursuant to this Section 2.04(c) is subject to the conditions set forth in Section 4.02. No such funding of risk participations shall relieve or otherwise impair the
obligation of the Borrower to repay Swing Line Loans, together with interest as provided herein. Notwithstanding the foregoing, a Lender shall not have any obligation to acquire a participation in a Swing Line Loan pursuant to this
Section 2.04(c) if any Lender shall have given timely notice to Administrative Agent pursuant to the final sentence of Section 2.04(b) and the Administrative Agent shall have given prompt notice to the Swing Line Lender that
the Swing Line Lender should not make such Swing Line Loan as a result of (a) the limitations set forth in the proviso to the first sentence of Section 2.04(a) or (b) the failure of one or more of the applicable conditions
specified in Article IV to then be satisfied and, notwithstanding such notice, the Swing Line Lender made such Loan. 
 (d) Repayment of Participations. 
 (i) At any time after any Revolving Credit Lender has
purchased and funded a risk participation in a Swing Line Loan, if the Swing Line Lender receives any payment on account of such Swing Line Loan, the Swing Line Lender will promptly distribute to such Revolving Credit Lender its Applicable Revolving
Credit Percentage of such payment (appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s risk participation was funded) in the same funds as those received by the Swing Line Lender.

 (ii) If any payment received by the Swing Line Lender in respect of principal or interest on any Swing Line
Loan is required to be returned by the Swing Line Lender under any of the circumstances described in Section 10.05 (including pursuant to any settlement entered into by the Swing Line Lender in its discretion), each Revolving Credit
Lender shall pay to the Swing Line Lender its Applicable Revolving Credit

  

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Percentage thereof on demand of the Administrative Agent, plus interest thereon from the date of such demand to the date such amount is returned, at a rate per annum equal to the Federal Funds
Rate. The Administrative Agent will make such demand upon the request of the Swing Line Lender. The obligations of the Lenders under this clause shall survive the payment in full of the Obligations and the termination of this Agreement. 

(e) Interest for Account of Swing Line Lender. The Swing Line Lender shall be responsible for invoicing the Borrower for interest
on the Swing Line Loans. Until each Revolving Credit Lender funds its Base Rate Loan or risk participation pursuant to this Section 2.04 to refinance such Revolving Credit Lender’s Applicable Revolving Credit Percentage of any Swing
Line Loan, interest in respect of such Applicable Revolving Credit Percentage shall be solely for the account of the Swing Line Lender. 
 (f) Payments Directly to Swing Line Lender. The Borrower shall make all payments of principal and interest in respect of the Swing Line Loans directly to the Swing Line Lender. 
 2.05 Prepayments. 
 (a) Optional. (i) The Borrower may, upon notice to the Administrative Agent, at any time or from time to time voluntarily prepay Committed Loans in whole or in part without premium or penalty; provided that (i) such
notice must be received by the Administrative Agent not later than 10:00 a.m. (A) three Business Days prior to any date of prepayment of Eurodollar Rate Loans and (B) on the date of prepayment of Base Rate Loans; (ii) any prepayment
of Eurodollar Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof; and (iii) any prepayment of Base Rate Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in
excess thereof or, in each case the entire principal amount thereof then outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurodollar Rate Loans are to be repaid, the
Interest Periods of such Loans. The Administrative Agent will promptly notify each Lender of its receipt of each such notice, and of the amount of such Lender’s ratable portion of such prepayment (based on such Lender’s Applicable
Percentage in respect of the relevant Facility). If such notice is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. Any prepayment
of a Eurodollar Rate Loan shall be accompanied by all accrued interest thereon, together with any additional amounts required pursuant to Section 3.05. Each such prepayment shall be applied to the Facility identified in the
Borrower’s prepayment notice. 
 (ii) The Borrower may, upon notice to the Swing Line Lender (with a copy to
the Administrative Agent), at any time or from time to time, voluntarily prepay Swing Line Loans in whole or in part without premium or penalty; provided that (i) such notice must be received by the Swing Line Lender and the
Administrative Agent not later than 12:00 noon on the date of the prepayment, and (ii) any such prepayment shall be in a minimum principal amount of $100,000. Each such notice shall specify the date and amount of such prepayment. If such notice
is given by the Borrower, the Borrower shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein. 
  

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 (b) Mandatory. 
 (i) Promptly upon receipt by the Borrower or any of its Subsidiaries of the Net Cash Proceeds received from the Disposition
of any assets other than Excluded Assets and Reinvestment Assets: 
 (A) if the asset which is Disposed of is the
Miami Property, 100% of the Net Cash Proceeds therefrom shall be applied by the Borrower to prepay the Loans (such prepayment to be applied as set forth below); 
 (B) the first $10,000,000 of such Net Cash Proceeds in each calendar year (disregarding any amounts derived pursuant to
(A) above) shall be applied by the Borrower to prepay the Loans (such prepayment to be applied as set forth below); and 
 (C) the remaining amount of such Net Cash Proceeds shall be shared ratably with the Senior Secured Notes to the extent required pursuant to the Intercreditor Agreement and the Senior Secured Note
Documents, and the portion of such remaining amount available for distribution hereunder shall be applied by the Borrower to prepay the Loans (such prepayment to be applied as set forth below). 
 Notwithstanding the foregoing, if any prepayment required under this Section 2.05(b)(i) would require the
Borrower to prepay Revolving Credit Loans on a day other than the last day of an Interest Period and such prepayment would require the Borrower to compensate the Lenders under Section 3.05 by reason of such prepayment, then the Borrower
may delay making the prepayment until the last day of the applicable Interest Period. 
 (ii) Within five
(5) Business Days after financial statements have been delivered pursuant to Section 6.01(a) and the related Compliance Certificate has been delivered pursuant to Section 6.02(b), except with respect to the
Borrower’s fiscal year ended December 27, 2009, the Borrower shall prepay an aggregate principal amount of Loans in an amount equal to (A) 75% of Excess Cash Flow for the fiscal year covered by such financial statements (such
prepayment to be applied as set forth below), less (B) for the prepayment related to fiscal year 2010, the amount actually paid pursuant to Section 2.06(b)(i); provided, however, that the amount of such prepayment
shall not be less than an amount equal to 50% of Excess Cash Flow for the fiscal year covered by such financial statements. 
 (iii) On the dates specified in clauses (A) and (B) of Section 2.06(b)(i), the Borrower shall prepay an amount sufficient to cause the Total Revolving Credit Outstandings to be less
than or equal to the Revolving Credit Facility as reduced in accordance therewith. 
 (iv) Upon the sale or
issuance by the Borrower or any of its Subsidiaries of any of its Equity Interests (other than Excluded Issuances and any sales or issuances of Equity Interests to another Loan Party), the Borrower shall prepay an aggregate principal amount

  

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of Loans equal to 75% of all Net Cash Proceeds received therefrom immediately upon receipt thereof by the Borrower or such Subsidiary (such prepayments to be applied as set forth below).

 (v) Upon the incurrence or issuance by the Borrower or any of its Subsidiaries of any Indebtedness (other than
Indebtedness expressly permitted to be incurred or issued pursuant to Section 7.02), the Borrower shall prepay an aggregate principal amount of Loans equal to 100% of all Net Cash Proceeds received therefrom immediately upon receipt
thereof by the Borrower or such Subsidiary (such prepayments to be applied as set forth below). 
 (vi) Upon the
incurrence or issuance by the Borrower of any Indebtedness permitted to be incurred or issued pursuant to Section 7.02(l), the Borrower shall utilize the Net Cash Proceeds therefrom to prepay the outstanding principal amount of all Loans
owed to the Class A Lenders or the Class B Lenders, as designated by the Borrower, and whose Commitments shall have been reduced pursuant to Section 2.06(b)(iii). 
 (vii) Except as set forth in clause (vi) above or clause (x) below, repayments of the Revolving Credit Facility
made pursuant to this Section 2.05(b), first, shall be applied ratably to the L/C Borrowings and the Swing Line Loans, second, shall be applied ratably to the outstanding Revolving Credit Loans, and, third, shall be
used to Cash Collateralize the remaining L/C Obligations. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied (without any further action by or notice to or from the Borrower
or any other Loan Party) to reimburse the L/C Issuer or the Revolving Credit Lenders, as applicable. 
 (viii)
Each prepayment of Loans pursuant to Section 2.05(b)(i), Section 2.05(b)(ii), Section 2.05(b)(iv), Section 2.05(b)(v) or Section 7.03(vi) shall be applied ratably to the Term A Facility and
to the Revolving Credit Facility (in the case of the Revolving Credit Facility, in the manner set forth in clause (vii) of this Section 2.05(b)), and to each applicable Lender in accordance with its Applicable Percentage.

 (ix) The Borrower acknowledges and agrees to be bound by the mandatory prepayment obligation set forth in
Section 2.01(c)(i), and to prepay the outstanding Revolving Credit Loans in an amount sufficient to reduce the outstanding principal amount thereof to an amount not in excess of the Revolving Credit Facility (and sufficient to ensure
that each Class A Revolving Lender’s Applicable Percentage thereof is not in excess of its Class A Revolving Credit Commitment), as a result of the commitment reductions in Sections 2.06(b)(ii) and (iii), such prepayment
to be made on the date of such reduction. 
 (x) The Borrower shall utilize (A) an amount of the Net Cash
Proceeds from the issuance of the Senior Secured Notes equal to the Permitted Tender Carry-Forward Limit, plus (B) 50% of any remaining Net Cash Proceeds from the issuance of the Senior Secured Notes, after the payments and reductions set forth
in Section 2.06(b)(ii), to repay the outstanding Revolving Credit Loans of the Revolving Credit Lenders in accordance with their Applicable Percentage; provided that such repayments shall be required to be

  

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made only to the extent required to reduce the outstanding amounts thereof to zero, and shall be applied in the following order: first, ratably to the L/C Borrowings and the Swing Line
Loans, and second, ratably to the outstanding Revolving Credit Loans. 
 2.06 Termination or Reduction of
Commitments. 
 (a) Optional. 
 (i) From and after the Restatement Effective Date, the Borrower may, upon notice to the Administrative Agent, terminate the
Revolving Credit Facility, or from time to time permanently reduce the Revolving Credit Facility; provided that (A) any such notice shall be received by the Administrative Agent not later than 10:00 a.m. five Business Days prior to the date of
termination or reduction; (B) any such partial reduction shall be in an aggregate amount of $10,000,000 or any whole multiple of $1,000,000 in excess thereof; (C) the Borrower shall not terminate or reduce the Revolving Credit Facility if,
after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Credit Outstandings would exceed the Revolving Credit Facility; and (D) if, after giving effect to any reduction of the Revolving Credit Facility, the
Letter of Credit Sublimit or the Swing Line Sublimit exceeds the amount of the Revolving Credit Facility, such Sublimit shall be automatically reduced by the amount of such excess; 
 (ii) The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of any
Revolving Credit Commitment under clause (i) above. Any reduction of any Revolving Credit Commitment on or prior to March 31, 2011 and after June 27, 2011, shall be applied to the Class A Revolving Credit Commitment of each
Class A Revolving Credit Lender according to its Applicable Percentage, and, once all Class A Revolving Credit Commitments have been reduced to zero, thereafter to the Class B Revolving Credit Commitment of each Class B Revolving Credit
Lender according to its Applicable Percentage. Any reduction of any Revolving Credit Commitment after March 31, 2011 but prior to June 28, 2011, shall be applied, at the Borrower’s election, in the manner set forth in the preceding
sentence, or to the Class B Revolving Credit Commitment of each Class B Revolving Credit Lender according to its Applicable Percentage, and, once all Class B Revolving Credit Commitments have been reduced to zero, thereafter to the Class A
Revolving Credit Commitment of each Class A Revolving Credit Lender according to its Applicable Percentage; provided, that, if the Borrower shall not state such an election in the notice given to the Administrative Agent under clause
(i) above, such reduction shall be applied in the manner set forth in the preceding sentence. All fees accrued until the effective date of any termination of any Revolving Credit Commitment shall be paid on the effective date of such
termination; and 
 (b) Mandatory. 
 (i) The Revolving Credit Facility and the Class B Revolving Credit Commitments, respectively, shall be automatically and
permanently reduced as follows: 
 (A) the Class B Revolving Credit Commitments shall be automatically and
permanently reduced by an amount equal to the product of (x) $5,000,000, multiplied by (y) a fraction, the numerator of which is an amount equal to the aggregate Class B Revolving Credit Commitments, and the denominator of which is
an amount equal to the aggregate Revolving Credit Commitments, at the close of business on March 31, 2010; 
  

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 (B) the Class B Revolving Credit Commitments shall be automatically and
permanently reduced by an amount equal to the product of (x) $5,000,000, multiplied by (y) a fraction, the numerator of which is an amount equal to the aggregate Class B Revolving Credit Commitments, and the denominator of which is
an amount equal to the aggregate Revolving Credit Commitments, at the close of business on June 30, 2010; and 
 (C) the Revolving Credit Facility shall be automatically and permanently reduced at the close of business on the date any prepayment of the Revolving Credit Facility is required to be made under clauses (i), (ii), (iv),
(v), (vi) or (viii) of Section 2.05(b), by the amount of any such required repayment. 
 (ii) Immediately upon issuance of any Senior Secured Notes, the Class A Term A Loans shall be repaid and the Class A Revolving Credit Commitments shall be automatically and permanently reduced,
pro rata as between the Class A Term A Loans and the Class A Revolving Credit Commitments, by an amount equal to 60% of the aggregate of the Class A Term A Loans and the Class A Revolving Credit Commitments. In addition, no later
than the Tender Final Settlement Date, (A) an amount of the Net Cash Proceeds from the issuance of the Senior Secured Notes equal to the Permitted Tender Carry-Forward Limit shall be applied as set forth in Section 2.05(b)(x),
(B) the Class A Term A Loans shall be repaid and the Class A Revolving Credit Commitments shall be automatically and permanently reduced, pro rata as between the Class A Term A Loans and the Class A Revolving Credit
Commitments, by an amount equal to 50% of any Net Cash Proceeds from such issuance remaining after the utilization of such Net Cash Proceeds to fund Other Permitted Payments and after allowance of the amount set forth in clause (A), and (C) the
other 50% of any remaining Net Cash Proceeds from such issuance shall be applied as set forth in Section 2.05(b)(x). All prepayments and reductions to be made for the benefit of the Class A Lenders in accordance with this
Section 2.06(b)(ii) shall be made pro rata among all Class A Lenders, and shall be pro rated for each Class A Lender across its Class A Term A Loan and its Class A Revolving Credit Commitment. 
 (iii) Upon the incurrence or issuance by the Borrower or any of its Subsidiaries of any Indebtedness permitted to be incurred
or issued pursuant to Section 7.02(l), either (A) the Class A Term A Loans shall be repaid in full and the Class A Revolving Credit Commitments shall be automatically and permanently reduced to zero, and/or (B) the
Class B Term A Loans shall be repaid in full and the Class B Revolving Credit Commitments shall be automatically and permanently reduced to zero, as designated by the Borrower. 
  

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 (iv) If after giving effect to any reduction or termination of Revolving
Credit Commitments under this Section 2.06, the Letter of Credit Sublimit or the Swing Line Sublimit exceeds the Revolving Credit Facility at such time, the Letter of Credit Sublimit or the Swing Line Sublimit, as the case may be, shall
be automatically reduced by the amount of such excess. 
 (c) Application of Commitment Reductions; Payment of Fees. The
Administrative Agent will promptly notify the Lenders of any termination or reduction of the Letter of Credit Sublimit, Swing Line Sublimit or the Revolving Credit Commitment under this Section 2.06. Unless otherwise stated herein, upon
any reduction of the Revolving Credit Commitments, the Revolving Credit Commitment of each Revolving Credit Lender shall be reduced by such Lender’s Applicable Revolving Credit Percentage of such reduction amount. All fees in respect of the
Revolving Credit Facility accrued until the effective date of any termination of the Revolving Credit Facility shall be paid on the effective date of such termination. 
 2.07 Repayment of Loans. 
 (a) The Borrower shall repay to the Class A
Term A Lenders on the Class A Maturity Date the aggregate principal amount of Class A Term A Loans outstanding on such date. 
 (b) The Borrower shall repay to the Class B Lenders on the Class B Maturity Date the aggregate principal amount of all Class B Loans outstanding on such date. 
 (c) The Borrower shall repay to the Class A Revolving Credit Lenders on the Class A Maturity Date the aggregate principal amount of the Revolving Credit Loans outstanding on such date.

 (d) The Borrower shall repay each Swing Line Loan on the earlier to occur of (i) the date seven Business Days after such
Loan is made and (ii) the Class A Maturity Date. 
 2.08 Interest. 
 (a) Subject to the provisions of subsection (b) below, (i) each Eurodollar Rate Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to the Eurodollar Rate for such Interest Period plus the Applicable Rate; (ii) except as otherwise provided in the definition of the term “Base Rate”,
each Base Rate Loan shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate; and (iii) each Swing Line Loan shall bear
interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the IBOR Rate plus the Applicable Rate for Eurodollar Rate Loans. 
 (b) (i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether
at stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
  

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 (ii) If any amount (other than principal of any Loan) payable by the
Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders, such amount shall thereafter bear
interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of the Required Lenders, during the existence of any Event of Default under Section 8.01(a), the Borrower shall pay interest on the principal amount of all outstanding
Obligations hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 
 (c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as
may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 
 2.09 Fees. In addition to certain fees described in subsections (i) and (j) of Section 2.03: 
 (a) Commitment Fee. The Borrower shall pay to the Administrative Agent for the account of each Revolving Credit Lender in accordance
with its Applicable Revolving Credit Percentage, a commitment fee equal to the Applicable Rate times the actual daily amount by which the Revolving Credit Facility exceeds the sum of (i) the Outstanding Amount of Revolving Credit Loans
and (ii) the Outstanding Amount of L/C Obligations. The commitment fee shall accrue at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met, and shall be due
and payable quarterly in arrears on the last Business Day of each March, June, September and December, commencing with the first such date to occur after the Restatement Effective Date, on the Class B Maturity Date (solely with respect to the Class
B Revolving Credit Lenders) and on the Class A Maturity Date (solely with respect to the Class A Revolving Credit Lenders). The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate
during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 
 (b) Other Fees. (i) The Borrower shall pay to each Arranger and the Administrative Agent for their own respective
accounts fees in the amounts and at the times specified in the Fee Letter. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii) The Borrower shall pay to the Lenders such fees as shall have been separately agreed upon in writing in the amounts and
at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
  

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 2.10 Computation of Interest and Fees. 
 (a) All computations of interest for Base Rate Loans when the Base Rate is determined by Bank of America’s “prime rate” shall
be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest,
as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such
portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. 
 (b) If, as a result of any restatement of or other adjustment to the financial statements of the Borrower or for any other reason, the
Borrower or the Lenders determine that (i) the Consolidated Total Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Total Leverage Ratio would have
resulted in higher pricing for such period, the Borrower shall immediately and retroactively be obligated to pay to the Administrative Agent for the account of the applicable Lenders, promptly on demand by the Administrative Agent (or, after the
occurrence of an actual or deemed entry of an order for relief with respect to the Borrower under the Bankruptcy Code of the United States, automatically and without further action by the Administrative Agent, any Lender or the L/C Issuer), an
amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Administrative Agent, any
Lender or the L/C Issuer, as the case may be, under Section 2.03(c)(iii), 2.03(i) or 2.08(b) or under Article VIII. The Borrower’s obligations under this paragraph shall survive the termination of the Aggregate
Commitments and the repayment of all other Obligations hereunder. 
 2.11 Evidence of Debt. 
 (a) The Credit Extensions made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender and by the
Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Credit Extensions made by the Lenders to the
Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of the Borrower hereunder to pay any amount owing with respect to the Obligations. In the
event of any conflict between the accounts and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of
manifest error. Upon the request of any Lender made through the Administrative Agent, the Borrower shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall evidence such Lender’s Loans in addition to such
accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 
  

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 (b) In addition to the accounts and records referred to in subsection (a), each Lender and
the Administrative Agent shall maintain in accordance with its usual practice accounts or records evidencing the purchases and sales by such Lender of participations in Letters of Credit and Swing Line Loans. In the event of any conflict between the
accounts and records maintained by the Administrative Agent and the accounts and records of any Lender in respect of such matters, the accounts and records of the Administrative Agent shall control in the absence of manifest error. 
 2.12 Payments Generally. 
 (a) All payments to be made by the Borrower shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by
the Borrower hereunder shall be made to the Administrative Agent, for the account of the respective Lenders to which such payment is owed, at the Administrative Agent’s Office in Dollars and in immediately available funds not later than 12:00
noon on the date specified herein. The Administrative Agent will promptly distribute to each Lender its Applicable Percentage in respect of the relevant Facility (or other applicable share as provided herein) of such payment in like funds as
received by wire transfer to such Lender’s Lending Office. All payments received by the Administrative Agent after 12:00 noon shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to
accrue. Without limiting the generality of this Section 2.12, on each date when the payment of any principal, interest or fees are due hereunder or under any Note, the Borrower agrees to maintain on deposit in an ordinary checking
account maintained by the Borrower with the Administrative Agent (as such account shall be designated by the Borrower in a written notice to the Administrative Agent from time to time, the “Borrower Account”) an amount sufficient to
pay such principal, interest or fees in full. The Borrower hereby authorizes the Administrative Agent (i) to deduct automatically all principal, interest or fees when due hereunder, or under the Notes from the Borrower Account, and (ii) if
and to the extent any payment under this Agreement or any other Loan Document is not made when due, to deduct automatically any such amount from any or all of the accounts of the Borrower maintained with the Administrative Agent. The Administrative
Agent agrees to provide timely notice to the Borrower of any automatic deduction made pursuant to this Section 2.12. 
 (b) If any payment to be made by the Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such extension of time shall be reflected in computing interest or fees, as the
case may be. 
 (c) Unless the Borrower or any Lender has notified the Administrative Agent, prior to the date any payment is
required to be made by it to the Administrative Agent hereunder, that the Borrower or such Lender, as the case may be, will not make such payment, the Administrative Agent may assume that the Borrower or such Lender, as the case may be, has timely
made such payment and may (but shall not be so required to), in reliance thereon, make available a corresponding amount to the Person entitled thereto. If and to the extent that such payment was not in fact made to the Administrative Agent in
immediately available funds, then: 
 (i) if the Borrower failed to make such payment, each Lender shall
forthwith on demand repay to the Administrative Agent the portion of such assumed payment that

  

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was made available to such Lender in immediately available funds, together with interest thereon in respect of each day from and including the date such amount was made available by the
Administrative Agent to such Lender to the date such amount is repaid to the Administrative Agent in immediately available funds at the Federal Funds Rate from time to time in effect; and 
 (ii) if any Lender failed to make such payment, such Lender shall forthwith on demand pay to the Administrative Agent the
amount thereof in immediately available funds, together with interest thereon for the period from the date such amount was made available by the Administrative Agent to the Borrower to the date such amount is recovered by the Administrative Agent
(the “Compensation Period”) at a rate per annum equal to the Federal Funds Rate from time to time in effect. If such Lender pays such amount to the Administrative Agent, then such amount shall constitute such Lender’s Committed
Loan included in the applicable Borrowing. If such Lender does not pay such amount forthwith upon the Administrative Agent’s demand therefor, the Administrative Agent may make a demand therefor upon the Borrower, and the Borrower shall pay such
amount to the Administrative Agent, together with interest thereon for the Compensation Period at a rate per annum equal to the rate of interest applicable to the applicable Borrowing. Nothing herein shall be deemed to relieve any Lender from its
obligation to fulfill its Commitment or to prejudice any rights which the Administrative Agent or the Borrower may have against any Lender as a result of any default by such Lender hereunder. 
 A notice of the Administrative Agent to any Lender or the Borrower with respect to any amount owing under this subsection (c) shall be
conclusive, absent manifest error. 
 (d) If any Lender makes available to the Administrative Agent funds for any Loan to be
made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the applicable Credit Extension set forth in
Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such Lender) to such Lender, without interest if such funds shall be returned not
later than the next following Business Day and with interest at a rate per annum equal to the Federal Funds Rate for each subsequent day until so returned. 
 (e) The obligations of the Lenders hereunder to make Committed Loans and to fund participations in Letters of Credit and Swing Line Loans and to make payments pursuant to Section 10.04(c) are
several and not joint. The failure of any Lender to make any Committed Loan or to fund any such participation or to make payments pursuant to Section 10.04(c) on any date required hereunder shall not relieve any other Lender of its
corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Committed Loan, to purchase its participation or to make its payment under Section 10.04(c).

 (f) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular place or manner
or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 
  

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 2.13 Sharing of Payments. If, other than as expressly provided elsewhere herein, any
Lender shall obtain on account of the Committed Loans made by it, or the participations in L/C Obligations or in Swing Line Loans held by it, any payment (whether voluntary, involuntary, through the exercise of any right of set-off, or otherwise) in
excess of its ratable share (or other share contemplated hereunder) thereof, such Lender shall immediately (a) notify the Administrative Agent of such fact, and (b) purchase from the other Lenders such participations in the Committed Loans
made by them and/or such subparticipations in the participations in L/C Obligations or Swing Line Loans held by them, as the case may be, as shall be necessary to cause such purchasing Lender to share the excess payment in respect of such Committed
Loans or such participations, as the case may be, pro rata with each of them; provided, however, that if all or any portion of such excess payment is thereafter recovered from the purchasing Lender under any of the circumstances
described in Section 10.05 (including pursuant to any settlement entered into by the purchasing Lender in its discretion), such purchase shall to that extent be rescinded and each other Lender shall repay to the purchasing Lender the
purchase price paid therefor, together with an amount equal to such paying Lender’s ratable share (according to the proportion of (i) the amount of such paying Lender’s required repayment to (ii) the total amount so recovered
from the purchasing Lender) of any interest or other amount paid or payable by the purchasing Lender in respect of the total amount so recovered, without further interest thereon. The Borrower agrees that any Lender so purchasing a participation
from another Lender may, to the fullest extent permitted by law, exercise all its rights of payment (including the right of set-off, but subject to Section 10.08) with respect to such participation as fully as if such Lender were the
direct creditor of the Borrower in the amount of such participation. The Administrative Agent will keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased under this Section and will in each
case notify the Lenders following any such purchases or repayments. Each Lender that purchases a participation pursuant to this Section shall from and after such purchase have the right to give all notices, requests, demands, directions and other
communications under this Agreement with respect to the portion of the Obligations purchased to the same extent as though the purchasing Lender were the original owner of the Obligations purchased. 
 ARTICLE III 
 TAXES, YIELD PROTECTION AND ILLEGALITY 
 3.01 Taxes. 
 (a) Any and all payments by the Borrower to or for the account of the Administrative Agent or any Lender under any Loan Document shall be
made free and clear of and without deduction for any and all present or future taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar charges, and all liabilities with respect thereto, excluding, in the case of
the Administrative Agent and each Lender, (i) taxes imposed on or measured by its overall net income, and franchise taxes imposed on it by a jurisdiction (or any political subdivision thereof or therein) under the Laws of which the
Administrative Agent or such Lender, as the case may be, is organized or maintains a lending office or with which the Administrative Agent or such Lender otherwise has a present or former connection (other than any such connection arising solely
from the Administrative Agent or such Lender having executed, delivered or performed its obligations or received a payment under, or enforced, any Loan Document) or (ii) any branch profits (or similar) taxes imposed by the United States or any

  

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similar taxes imposed by any other jurisdiction in which the Borrower is located (all such non-excluded taxes, duties, levies, imposts, deductions, assessments, fees, withholdings or similar
charges, and liabilities being hereinafter referred to as “Taxes”). If the Borrower shall be required by any Laws to deduct any Taxes (including Other Taxes as defined in Section 3.01(b)) from or in respect of any sum
payable under any Loan Document to the Administrative Agent or any Lender, (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this
Section 3.01(a)(i)), each of the Administrative Agent and such Lender receives an amount equal to the sum it would have received had no such deductions been made, provided, however, that the Borrower shall not be required
to increase any such amounts payable to the Administrative Agent or any Lender (A) to the extent provided in Section 10.14(a)(iii), (B) with respect to any backup withholding tax attributable to a Lender’s failure to
comply with Section 10.14(b), or (C) with respect to any United States federal withholding taxes imposed on amounts payable to the Administrative Agent or such Lender at the time the Administrative Agent or such Lender becomes a
party to this Agreement, except to the extent that such Administrative Agent’s predecessor (if any) or Lender’s assignor (if any), as the case may be, was entitled, at the time of succession or assignment, as the case may be, to receive
additional amounts from the Borrower with respect to such Taxes pursuant to this Section 3.01(a)(i); (ii) the Borrower shall make such deductions; (iii) the Borrower shall pay the full amount deducted to the relevant taxation
authority or other authority in accordance with applicable Laws; and (iv) within 30 days after the date of such payment, the Borrower shall furnish to the Administrative Agent (which shall forward the same to such Lender) the original or a
certified copy of a receipt evidencing payment thereof or, if such a receipt is unavailable, such other evidence as may be reasonably satisfactory to the Administrative Agent. 
 (b) In addition, the Borrower agrees to pay any and all present or future stamp, court or documentary taxes and any other excise or property
taxes or charges or similar levies which arise from any payment made under any Loan Document or from the execution, delivery, performance, enforcement or registration of, or otherwise with respect to, any Loan Document (hereinafter referred to as
“Other Taxes”). 
 (c) Without duplication of any amounts payable under clauses (a) or (b) above, the
Borrower agrees to indemnify the Administrative Agent and each Lender for (i) the full amount of Taxes with respect to which the Borrower is required to pay additional amounts pursuant to Section 3.01(a)(i) and Other Taxes
(including any such Taxes or Other Taxes imposed or asserted by any jurisdiction on amounts payable under this Section) paid by the Administrative Agent and such Lender and (ii) any liability (including additions to tax, penalties, interest and
expenses) arising therefrom or with respect thereto, in each case whether or not such Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority (except to the extent that any such liability (including
additions to tax, penalties, interest and expenses) arises as a result of the gross negligence or willful misconduct of the Administrative Agent or such Lender, as the case may be, provided that for purposes of this parenthetical clause, gross
negligence shall not be deemed to include any failure on the part of the Administrative Agent or any Lender to inquire as to whether the Borrower has failed to pay any Taxes or Other Taxes when due to the appropriate taxation authority or other
authority or has failed to remit to the Administrative Agent the required receipts or other required documentary evidence). Payment under this subsection (c) shall be made within 30 days after the date the Lender or the Administrative Agent
makes a demand therefor. 
  

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 Each Lender that sells or grants a participation shall (i) withhold or deduct from each
payment to a Participant the amount of any tax required under applicable law to be withheld or deducted from such payment and not withheld or deducted therefrom by the Borrower or the Administrative Agent, (ii) pay any tax so withheld or
deducted by it to the appropriate taxation authority or other authority in accordance with applicable Laws and (iii) indemnify the Borrower and the Administrative Agent for any losses, costs and expenses that may incur as a result of any
failure to withhold or deduct and pay any tax to the extent the amount of such tax and losses, costs and expenses exceeds the amount of tax and losses, costs and expenses that would have been imposed in the absence of such participation. 

3.02 Illegality. If any Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that
it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurodollar Rate Loans, or to determine or charge interest rates based upon the Eurodollar Rate, then, on notice thereof by such Lender to the Borrower through
the Administrative Agent, any obligation of such Lender to make or continue Eurodollar Rate Loans or to convert Base Rate Loans to Eurodollar Rate Loans shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the
circumstances giving rise to such determination no longer exist. Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Rate Loans of
such Lender to Base Rate Loans, either on the last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain
such Eurodollar Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. Each Lender agrees to designate a different Lending Office if such designation will avoid the
need for such notice and will not, in the good faith judgment of such Lender, otherwise be materially disadvantageous to such Lender. 
 3.03 Inability to Determine Rates. If the Required Lenders determine that for any reason adequate and reasonable means do not exist for determining the Eurodollar Rate for any requested Interest Period with respect to a proposed
Eurodollar Rate Loan, or that the Eurodollar Rate for any requested Interest Period with respect to a proposed Eurodollar Rate Loan does not adequately and fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will
promptly so notify the Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurodollar Rate Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such
notice. Upon receipt of such notice, the Borrower may revoke any pending request for a Borrowing of, conversion to or continuation of Eurodollar Rate Loans or, failing that, will be deemed to have converted such request into a request for a
Committed Borrowing of Base Rate Loans in the amount specified therein. 
  

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 3.04 Increased Cost and Reduced Return; Capital Adequacy; Reserves on Eurodollar Rate
Loans. 
 (a) If any Lender determines that as a result of the introduction of or any change in or in the interpretation of
any Law, or such Lender’s compliance therewith, there shall be any increase in the cost to such Lender of agreeing to make or making, funding or maintaining Eurodollar Rate Loans or (as the case may be) issuing or participating in Letters of
Credit, or a reduction in the amount received or receivable by such Lender in connection with any of the foregoing (excluding for purposes of this subsection (a) any such increased costs or reduction in amount resulting from (i) Taxes or
Other Taxes (as to which Section 3.01 shall govern), (ii) changes in the basis of taxation of overall net income or overall gross income by the United States or any foreign jurisdiction or any political subdivision of either thereof
under the Laws of which such Lender is organized or has its Lending Office, and (iii) reserve requirements contemplated by Section 3.04(c)), then from time to time upon demand of such Lender (with a copy of such demand to the
Administrative Agent), the Borrower shall pay to such Lender such additional amounts as will compensate such Lender for such increased cost or reduction. 
 (b) If any Lender determines that the introduction of any Law regarding capital adequacy or any change therein or in the interpretation thereof, or compliance by such Lender (or its Lending Office)
therewith, has the effect of reducing the rate of return on the capital of such Lender or any corporation controlling such Lender as a consequence of such Lender’s obligations hereunder (taking into consideration its policies with respect to
capital adequacy and such Lender’s desired return on capital), then from time to time upon demand of such Lender (with a copy of such demand to the Administrative Agent), the Borrower shall pay to such Lender such additional amounts as will
compensate such Lender for such reduction. 
 (c) The Borrower shall pay to each Lender, as long as such Lender shall be
required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of
each Eurodollar Rate Loan equal to the actual costs of such reserves allocated to such Loan by such Lender (as determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which
interest is payable on such Loan, provided the Borrower shall have received at least 15 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 15 days
prior to the relevant Interest Payment Date, such additional interest shall be due and payable 15 days from receipt of such notice. 
 3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the Administrative Agent) from time to time, the Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense
incurred by it as a result of: 
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base Rate
Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 
  

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 (b) any failure by the Borrower (for a reason other than the failure of such Lender to make
a Loan) to prepay, borrow, continue or convert any Loan other than a Base Rate Loan on the date or in the amount notified by the Borrower; or 
 (c) any assignment of a Eurodollar Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by the Borrower pursuant to Section 10.13; 
 including any loss of anticipated profits solely attributable to a decline in the Eurodollar Rate after the date such Loan was made and any loss or expense
arising from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. The Borrower shall also pay any customary administrative fees charged by
such Lender in connection with the foregoing. 
 For purposes of calculating amounts payable by the Borrower to the Lenders under this
Section 3.05, each Lender shall be deemed to have funded each Eurodollar Rate Loan made by it at the Eurodollar Rate for such Loan by a matching deposit or other borrowing in the London interbank eurodollar market for a comparable amount
and for a comparable period, whether or not such Eurodollar Rate Loan was in fact so funded. 
 3.06 Matters Applicable to
all Requests for Compensation. 
 (a) A certificate of the Administrative Agent or any Lender claiming compensation under
this Article III and setting forth the additional amount or amounts to be paid to it hereunder shall be conclusive in the absence of manifest error. In determining such amount, the Administrative Agent or such Lender may use any
reasonable averaging and attribution methods. 
 (b) Upon any Lender’s making a claim for compensation under
Section 3.01 or 3.04 or a claim of illegality under Section 3.02, the Borrower may replace such Lender in accordance with Section 10.13. 
 3.07 Survival. All of the Borrower’s obligations under this Article III shall survive termination of the Aggregate
Commitments and repayment of all other Obligations hereunder. 
 ARTICLE IV 
 CONDITIONS PRECEDENT TO EFFECTIVENESS AND CREDIT EXTENSIONS 
 4.01 Conditions of Effectiveness. The effectiveness of this amendment and restatement is subject to satisfaction of the following
conditions precedent: 
 (a) The Administrative Agent’s receipt of the following, each of which shall be originals or
facsimiles (followed promptly by originals) unless otherwise specified, each properly executed by a Responsible Officer of the signing Loan Party, each dated the Restatement Effective Date (or, in the case of certificates of governmental officials,
a recent date before the Restatement Effective Date) and each in form and substance satisfactory to the Administrative Agent and each of the Lenders: 
 (i) executed counterparts of this Agreement, sufficient in number for distribution to the Administrative Agent, each Lender and the Borrower; 
  

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 (ii) a Note executed by the Borrower in favor of each Lender requesting a
Note; 
 (iii) such certificates of resolutions or other action, incumbency certificates and/or other
certificates of Responsible Officers of each Loan Party as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this
Agreement and the other Loan Documents to which such Loan Party is a party or is to be a party; 
 (iv) such
documents and certifications as the Administrative Agent may reasonably require to evidence that each Loan Party is duly organized or formed, and that each Loan Party is validly existing, in good standing and qualified to engage in business in each
jurisdiction where its ownership, lease or operation of properties or the conduct of its business requires such qualification, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; 

(v) favorable opinions of Wilson Sonsini Goodrich & Rosati, Professional Corporation, counsel to the Loan
Parties, addressed to the Administrative Agent and each Lender, as to the matters set forth in Exhibit F and such other matters concerning the Borrower and the Loan Documents as the Administrative Agent or the Required Lenders may
reasonably request; 
 (vi) a certificate of a Responsible Officer of each Loan Party either (A) attaching
copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such Loan Party of the Loan Documents to which it is a party, and such consents, licenses
and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required; 
 (vii) a certificate signed by a Responsible Officer of the Borrower certifying that the conditions specified in Sections 4.02(a) and (b) have been satisfied; 
 (viii) a duly completed pro forma Compliance Certificate as of the last day of the fiscal quarter of the Borrower most
recently ended prior to the Restatement Effective Date for which financial statements are available, and utilizing the covenant levels for the Fiscal Quarter ending December 2009, signed by a Responsible Officer of the Borrower; 
 (ix) reaffirmations of the Collateral Documents and the Guaranty by each Loan Party (other than, in the case of the Guaranty,
the Borrower), in form and substance reasonably acceptable to the Administrative Agent; and 
 (x) such other
assurances, certificates, documents, consents or opinions as the Administrative Agent, the L/C Issuer, the Swing Line Lender or the Required Lenders reasonably may require. 
 (b) Any fees required to be paid on or before the Restatement Effective Date shall have been paid. 
  

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 (c) Unless waived by the Administrative Agent, the Borrower shall have paid all reasonable
fees, charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior to or on the Restatement Effective Date, plus such additional amounts of such fees, charges and disbursements as shall constitute its reasonable
estimate of such fees, charges and disbursements incurred or to be incurred by it through the closing proceedings (provided that such estimate shall not thereafter preclude a final settling of accounts between the Borrower and the Administrative
Agent). 
 (d) The Restatement Effective Date shall have occurred on or before March 31, 2010. 
 Without limiting the generality of the provisions of Section 9.04, for purposes of determining compliance with the conditions
specified in this Section 4.01 and the consent required under Section 10.01(a), each Lender that has signed this Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document
delivered or to be delivered pursuant to Section 4.01(a)(v) and not to require any additional documentation under Section 4.01(a)(x), unless the Administrative Agent shall have received notice from such Lender prior to the
proposed Restatement Effective Date specifying its requirements or objection with respect thereto. 
 4.02 Conditions to all
Credit Extensions. The obligation of each Lender to honor any Request for Credit Extension (other than a Committed Loan Notice requesting only a conversion of Committed Loans to the other Type, or a continuation of Eurodollar Rate Loans) is
subject to the following conditions precedent: 
 (a) The representations and warranties of the Borrower contained in
Article V (other than, at such times as the Rating from S&P is at least BBB- and the Rating from Moody’s is at least Baa3, the representations and warranties in Sections 5.06 and 5.09) or any other Loan
Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall be true and correct on and as of the date of such Credit Extension, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date, and except that for purposes of this Section 4.02, the representations and warranties contained in subsections
(a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01. 
 (b) No Default shall exist, or would result from such proposed Credit Extension. 
 (c) The Administrative Agent and, if applicable, the L/C Issuer or the Swing Line Lender shall have received a Request for Credit Extension
in accordance with the requirements hereof. 
 (d) After giving effect to such proposed Credit Extension, the Borrower shall be
in pro forma compliance with the financial covenants set forth in Section 7.07. In the calculation of such pro forma compliance, the Borrower shall use the Consolidated EBITDA from the financial information most recently delivered to the
Administrative Agent pursuant to Section 6.01(a) or (b) and the Consolidated Indebtedness as of the date of such proposed Credit Extension, after giving pro forma effect to such Credit Extension. 
  

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 (e) Each Request for Credit Extension (other than a Committed Loan Notice requesting only a
conversion of Committed Loans to the other Type or a continuation of Eurodollar Rate Loans) submitted by the Borrower shall be deemed to be a representation and warranty that the conditions specified in Sections 4.02(a), (b) and
(d) have been satisfied on and as of the date of the applicable Credit Extension. 
 ARTICLE V 
 REPRESENTATIONS AND WARRANTIES 
 The Borrower represents and warrants to the Administrative Agent and the Lenders that: 
 5.01 Existence, Qualification and Power; Compliance with Laws. Each Loan Party and each of its Subsidiaries (a) is duly organized or formed, validly existing and, as applicable, in good standing under the Laws of the
jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own its assets and carry on its business and
(ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its ownership, lease or
operation of properties or the conduct of its business requires such qualification or license, and (d) is in compliance with all Laws; except in each case referred to in clause (b)(i), (c) or (d), to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect. 
 5.02 Authorization; No Contravention. The execution,
delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party have been duly authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms
of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or the creation of any Lien under, (i) any material Contractual Obligation to which such Person is a party or (ii) any
order, injunction, writ or decree of any Governmental Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. 
 5.03 Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any Governmental Authority or any other Person is
necessary or required in connection with the execution, delivery or performance by, or enforcement against, any Loan Party of this Agreement or any other Loan Document. 
 5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan Party that is party thereto. This
Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is a party thereto in accordance with its terms, except as
enforcement may be limited by (i) bankruptcy, insolvency, moratorium or similar laws affecting creditors’ rights generally or (ii) equitable principles relating to the granting of specific performance and other equitable remedies as a
matter of judicial discretion. 
  

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 5.05 Financial Statements. 
 (a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered
thereby, except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered
thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) to the extent required by GAAP, show all material indebtedness and other liabilities, direct or
contingent, of the Borrower and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 
 (b) The unaudited consolidated balance sheet of the Borrower and its Subsidiaries dated September 27, 2009, and the related consolidated statements of income or operations, shareholders’ equity
and cash flows for the fiscal quarter ended on that date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all
material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and
to normal interim accruals or adjustments, unless otherwise disclosed. 
 (c) Since the later of (i) the date of the
quarterly financial statements for the fiscal quarter ended September 27, 2009, and (ii) the date of the most recent audited financial statements delivered pursuant to Section 6.01(a), there has been no event or circumstance,
either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower after due and diligent investigation, threatened or contemplated, at law, in equity, in arbitration or before
any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) purport to affect or pertain to this Agreement, any other Loan Document, or (b) except as
specifically disclosed in Schedule 5.06 to the Disclosure Letter (the “Disclosed Litigation”), either individually or in the aggregate, if determined adversely, could reasonably be expected to have a Material Adverse
Effect, and there has been no adverse change in the status, or financial effect on any Loan Party or any Subsidiary thereof, of the matters described in Schedule 5.06 to the Disclosure Letter. 
 5.07 No Default. Neither any Loan Party nor any Subsidiary thereof is in default under or with respect to any Contractual Obligation
that could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any
other Loan Document. 
 5.08 Ownership of Property; Liens. Each Loan Party and each of its Subsidiaries has good record
and marketable title in fee simple to, or valid leasehold interests in, all real property necessary in the ordinary conduct of its business, except for such defects in title as could not, individually or in the aggregate, reasonably be expected to
have a Material Adverse Effect. The property of the Borrower and its Subsidiaries is subject to no Liens, other than Liens permitted by Section 7.01 or created pursuant to any Loan Document. 
  

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 5.09 Environmental Compliance. The Borrower and its Subsidiaries have reasonably
concluded that, except as specifically disclosed in Schedule 5.09 to the Disclosure Letter, there are no claims against Borrower and its Subsidiaries or alleging potential liability under Environmental Laws or violations by the Borrower
and its Subsidiaries of Environmental Laws which in either case would, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 
 5.10 Insurance. The Borrower and its Subsidiaries have insurance in such amounts and covering such risks and liabilities as are in accordance with normal industry practice. 
 5.11 Taxes. The Borrower and its Subsidiaries have filed all Federal, state and other material tax returns and reports required to be
filed, and have paid all Federal, state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets otherwise due and payable, except those which are being contested in
good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance with GAAP. There is no proposed tax assessment against the Borrower or any Subsidiary that could reasonably be expected to
have a Material Adverse Effect. 
 5.12 ERISA Compliance. 
 (a) Each Plan is in compliance in all material respects with the applicable provisions of ERISA, the Code and other Federal or state Laws.
Each Plan that is intended to qualify under Section 401(a) of the Code has received a favorable determination letter from the IRS or an application for such a letter is currently being processed by the IRS with respect thereto, has been
established under a prototype plan for which an IRS opinion letter has been obtained by the plan sponsor and is valid as to the adopting employer, or is within its applicable remedial amendment period under Section 401(b) of the Code and, to
the best knowledge of the Borrower, nothing has occurred which would prevent, or cause the loss of, such qualification. No Plan has failed prior to, or after, the effectiveness of the Pension Act, to satisfy the minimum funding standard within the
meaning of Section 412 of the Internal Revenue Code or Section 302 of ERISA, as of the last day of the most recent fiscal year of such Plan ended prior to the date as of which this representation is made. Neither the Borrower nor any of
its ERISA Affiliates is (A) prior to the effectiveness of the Pension Act, required to give security to any Plan pursuant to Section 401(a)(29) of the Internal Revenue Code or Section 307 of ERISA, or on or after the effectiveness of
the Pension Act, required to make an additional contribution or give security to any Plan pursuant to Section 436 of the Internal Revenue Code or Section 206(g) of ERISA, or (B) subject to a Lien in favor of a Plan, under either
Section 302(f) of ERISA or Section 412(m) of the Code prior to the effectiveness of the Pension Act, or under Section 303(k) of the ERISA or Section 430(k) of the Code on and after the effectiveness of the Pension Act.

 (b) There are no pending or, to the best knowledge of the Borrower, threatened claims, actions or lawsuits, or action by any
Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has been no

  

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prohibited transaction within the meaning of Section 406 of ERISA and Section 4975 of the Code, other than as exempted under Section 408 of ERISA or violation of the fiduciary
responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 
 (c) (i) No ERISA Event has occurred or is reasonably expected to occur; (ii) neither the Borrower nor any ERISA Affiliate has incurred, or reasonably expects to incur, any liability (and no event has
occurred which, with the giving of notice under Section 4219 of ERISA, would result in such liability) under Sections 4201 or 4243 of ERISA with respect to a Multiemployer Plan that has resulted in or could reasonably be expected to result in a
Material Adverse Effect; (iii) neither the Borrower nor any ERISA Affiliate has engaged in a transaction that could be subject to Sections 4069 or 4212(c) of ERISA and (iv) no Pension Plan has any Unfunded Pension Liability that has
resulted or could reasonably be expected to result in a Material Adverse Effect. 
 5.13 Subsidiaries. As of the
Restatement Effective Date, the Borrower has no Subsidiaries other than those specifically disclosed in Schedule 5.13 to the Disclosure Letter. 
 5.14 Margin Regulations; Investment Company Act; Public Utility Holding Company Act. 
 (a) The Borrower is not engaged and will not engage, principally or as one of its important activities, in the business of purchasing or carrying margin stock (within the meaning of Regulation U issued by
the FRB), or extending credit for the purpose of purchasing or carrying margin stock. 
 (b) None of the Borrower, any Person
Controlling the Borrower, or any Subsidiary (i) is a “holding company,” or a “subsidiary company” of a “holding company,” or an “affiliate” of a “holding company” or of a “subsidiary
company” of a “holding company,” within the meaning of the Public Utility Holding Company Act of 1935, or (ii) is or is required to be registered as an “investment company” under the Investment Company Act of 1940.

 5.15 Disclosure. The Borrower has disclosed to the Administrative Agent and the Lenders all agreements, instruments
and corporate or other restrictions to which it or any of its Subsidiaries is subject, and all other matters known to it, that, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. No report,
financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to the Administrative Agent or any Lender in connection with the transactions contemplated hereby and the negotiation of
this Agreement or delivered hereunder or under any other Loan Document (in each case, as modified or supplemented by other information so furnished) contains any material misstatement of fact or omits to state any material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the Borrower represents only that such information was prepared in good faith
based upon assumptions believed to be reasonable at the time. 
  

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 5.16 Compliance with Laws. Each Loan Party and each Subsidiary thereof is in
compliance in all material respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its properties, except in such instances in which (a) such requirement of Law or order, writ, injunction
or decree is being contested in good faith by appropriate proceedings diligently conducted or (b) the failure to comply therewith, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

 5.17 Solvency. Each Loan Party is, individually and together with its Subsidiaries on a consolidated basis, Solvent.

 ARTICLE VI 
 AFFIRMATIVE COVENANTS 
 So long as any Lender shall have any Commitment
hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding, the Borrower shall, and shall (except in the case of the covenants set forth in Sections 6.01,
6.02, 6.03 and 6.11) cause each Subsidiary to: 
 6.01 Financial Statements. Deliver to the
Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) as soon as available, but in any event within 90 days after the end of each fiscal year of the Borrower (commencing with the fiscal year ended 2009), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of
such fiscal year, and the related consolidated statements of income or operations, shareholders’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in
reasonable detail and prepared in accordance with GAAP, audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Required Lenders, which report and
opinion shall be prepared in accordance with generally accepted auditing standards and applicable Securities Laws and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to
the scope of such audit or with respect to the absence of any material misstatement; and 
 (b) as soon as available, but in any
event within 45 days after the end of each of the first three fiscal quarters of each fiscal year of the Borrower (commencing with the fiscal quarter ending in March, 2010), (i) a consolidated balance sheet of the Borrower and its Subsidiaries
as at the end of such fiscal quarter, setting forth in comparative form to the most recent audited balance sheet the figures for the current fiscal quarter end, (ii) the related consolidated statements of income or operations for such fiscal
quarter and for the portion of the Borrower’s fiscal year then ended, and (iii) consolidated statements of shareholders’ equity and cash flows for the portion of the fiscal year then ended, setting forth in the case of the statements
of income specified in clause (ii) and cash flows specified in clause (iii) in comparative form the figures for the corresponding interim periods of the previous fiscal year, all in reasonable detail, such statements to be certified by the
chief executive officer, chief financial officer, treasurer or controller of the Borrower as fairly presenting in all material respects the financial condition,

  

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results of operations, shareholders’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal interim accruals or adjustments, unless
otherwise disclosed, and the absence of footnotes. 
 So long as the Borrower furnishes the materials required pursuant to
Section 6.02(b), the Borrower shall not be separately required to furnish any information under clause (a) or (b) above. 
 6.02 Certificates; Other Information. Deliver to the Administrative Agent and each Lender, in form and detail satisfactory to the Administrative Agent and the Required Lenders: 
 (a) concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and (b) (commencing
with the delivery of the financial statements for the fiscal year ended December 27, 2009), a duly completed Compliance Certificate signed by a Responsible Officer of the Borrower and within five (5) Business Days after the delivery of the
financial statements referred to in Section 6.01(a), if the Consolidated Total Leverage Ratio as set forth in the Compliance Certificate as of the relevant fiscal year end is greater than 4.0 to 1.0, a computation of Excess Cash Flow for
such fiscal year signed by a Responsible Officer of the Borrower; 
 (b) promptly after the same are available, copies of each
annual report, proxy or financial statement or other report or communication sent to the stockholders of the Borrower, and copies of all annual, regular, periodic and special reports and registration statements which the Borrower may file or be
required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 
 (c) promptly after the furnishing thereof, copies of any statement or report furnished to any holder of debt securities of any Loan Party or
of any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lenders pursuant to Section 6.01 or any other clause of this
Section 6.02; 
 (d) to the extent not already furnished under any Loan Document, promptly after the furnishing
thereof, copies of each annual, monthly or other periodic statement or report furnished to holders of the Senior Secured Notes pursuant to the terms of the Senior Secured Note Documents, and, promptly following the giving or receipt of written
notice of the occurrence of any “default” or “event of default” (however described) by any Loan Party or of any of its Subsidiaries under the terms of the Senior Secured Note Documents, a copy of such notice; 
 (e) if the Administrative Agent shall not have required the Financial Advisors to be engaged as contemplated by Section 6.14,
the Borrower shall deliver to the Administrative Agent by March 1 each year an updated Forecast prepared by the Borrower and setting forth the matters described by Section 6.14; and 
 (f) promptly, such additional information regarding the business, financial or corporate affairs of the Borrower or any Subsidiary, or
compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender may from time to time reasonably request. 
  

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 Documents required to be delivered pursuant to Section 6.01(a) or
(b) or Section 6.02(b) (to the extent any such documents are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date
(i) on which the Borrower posts such documents, or provides a link thereto on the Borrower’s website on the Internet at the website address listed on Schedule 10.02; or (ii) on which such documents are posted on the
Borrower’s behalf on an Internet or intranet website, if any, to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent); provided that:
(i) the Borrower shall deliver paper copies of such documents to the Administrative Agent or any Lender that requests the Borrower to deliver such paper copies until a written request to cease delivering paper copies is given by the
Administrative Agent or such Lender and (ii) the Borrower shall notify (which may be by facsimile or electronic mail) the Administrative Agent and each Lender of the posting of any such documents and provide to the Administrative Agent by
electronic mail electronic versions (i.e., soft copies) of such documents. Notwithstanding anything contained herein, in every instance the Borrower shall be required to provide paper copies of the Compliance Certificates required by
Section 6.02(b) to the Administrative Agent. Except for such Compliance Certificates, the Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to above, and in any event
shall have no responsibility to monitor compliance by the Borrower with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 
 The Borrower hereby acknowledges that (a) the Administrative Agent and/or the Arrangers will make available to the Lenders and the L/C
Issuer materials and/or information provided by or on behalf of the Borrower hereunder (collectively, “Borrower Materials”) by posting the Borrower Materials on IntraLinks or another similar electronic system (the
“Platform”) and (b) certain of the Lenders may be “public-side” Lenders (i.e., Lenders that do not wish to receive material non-public information with respect to the Borrower or its securities) (each, a
“Public Lender”). The Borrower hereby agrees that it will use commercially reasonable efforts to identify that portion of the Borrower Materials that may be distributed to the Public Lenders and that (w) all such Borrower
Materials shall be clearly and conspicuously marked “PUBLIC” which, at a minimum, shall mean that the word “PUBLIC” shall appear prominently on the first page thereof; (x) by marking Borrower Materials “PUBLIC,”
the Borrower shall be deemed to have authorized the Administrative Agent, the Arrangers, the L/C Issuer and the Lenders to treat such Borrower Materials as not containing any material non-public information (although it may be sensitive and
proprietary) with respect to the Borrower or its securities for purposes of United States Federal and state securities laws (provided, however, that to the extent such Borrower Materials constitute Information, they shall be treated as
set forth in Section 10.07); (y) all Borrower Materials marked “PUBLIC” are permitted to be made available through a portion of the Platform designated “Public Investor;” and (z) the Administrative Agent and
the Arrangers shall be entitled to treat any Borrower Materials that are not marked “PUBLIC” as being suitable only for posting on a portion of the Platform not designated “Public Investor.” Notwithstanding the foregoing, the
Borrower shall be under no Obligation to mark any Borrower Materials “PUBLIC”. 
 6.03 Notices. Promptly notify
the Administrative Agent and each Lender: 
 (a) of the occurrence of any Default; 
  

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 (b) of any matter that has resulted or could reasonably be expected to result in a Material
Adverse Effect, including to the extent it has or could reasonably be expected to result in a Material Adverse Effect, (i) breach or non-performance of, or any default under, a Contractual Obligation of any Loan Party or any Subsidiary thereof;
(ii) any dispute, litigation, investigation, proceeding or suspension between any Loan Party or any Subsidiary thereof and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or
proceeding affecting any Loan Party or any Subsidiary thereof, including pursuant to any applicable Environmental Laws; 
 (c)
of the occurrence of any ERISA Event; 
 (d) of the final determination by the certified public accountants providing the
assessment report required under Item 308 of SEC Regulation S-K, PCAOB Auditing Standard No. 2 and Section 404 of Sarbanes-Oxley (in connection with its preparation of such report) or the Borrower’s determination at any time of
the occurrence or existence of any Internal Control Event; 
 (e) of the (i) occurrence of any Disposition of property or
assets for which the Borrower is required to make a mandatory prepayment pursuant to Section 2.05(b)(i), (ii) occurrence of any sale of capital stock or other Equity Interests for which the Borrower is required to make a mandatory
prepayment pursuant to Section 2.05(b)(iv), or (iii) incurrence or issuance of any Indebtedness for which the Borrower is required to make a mandatory prepayment pursuant to Section 2.05(b)(v); and 
 (f) of any announcement by Moody’s or S&P of any change or possible change in a Rating. 
 Each notice pursuant to this Section 6.03 (other than Section 6.03(e) or (f)) shall be accompanied by a
statement of a Responsible Officer of the Borrower setting forth details of the occurrence referred to therein and stating what action the Borrower has taken and proposes to take with respect thereto. Each notice pursuant to
Section 6.03(a) shall describe with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 
 6.04 Payment of Obligations. Pay and discharge as the same shall become due and payable, all its obligations and liabilities, including (a) all material tax liabilities, assessments and
governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance with GAAP are being maintained by the Borrower
or such Subsidiary; and (b) all material lawful claims which, if unpaid, would by law become a Lien upon its property that would not otherwise be permitted hereunder unless such claims are being contested in good faith by appropriate
proceedings and the relevant entity has established and maintains adequate reserves for the payment of the same. 
 6.05
Preservation of Existence, Etc. (a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its

  

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organization (except in a transaction permitted by Section 7.03), except to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect;
(b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to
have a Material Adverse Effect; and (c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably be expected to have a Material Adverse Effect. 
 6.06 Maintenance of Properties. (a) Maintain, preserve and protect all of its material properties and equipment necessary in the
operation of its business in good working order and condition, ordinary wear and tear excepted, except to the extent that the failure to do so could reasonably be expected to have a Material Adverse Effect; (b) make all necessary repairs
thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its
facilities except where the failure to do so could not reasonably be expected to have a Material Adverse Effect. 
 6.07
Maintenance of Insurance. Keep its insurable properties adequately insured at all times by financially sound and reputable insurers; maintain such other insurance, to such extent and against such risks, including fire and other risks insured
against by extended coverage, as is customary with companies in the same or similar businesses operating in the same or similar locations, including public liability insurance against claims for personal injury. 
 6.08 Compliance with Laws. Comply in all material respects with the requirements of all Laws and all orders, writs, injunctions and
decrees applicable to it or to its business or property, except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or
(b) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect. 
 6.09 Books
and Records. (a) Maintain proper books of record and account, in which are in all material respects full, true and correct entries in conformity with GAAP consistently applied shall be made of all financial transactions and matters
involving the assets and business of the Borrower or such Subsidiary, as the case may be; and (b) maintain such books of record and account in material conformity with all applicable requirements of any Governmental Authority having regulatory
jurisdiction over the Borrower or such Subsidiary, as the case may be. 
 6.10 Inspection Rights. Permit representatives
and independent contractors of the Administrative Agent to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and
accounts with its directors, officers, and independent public accountants, all at the expense of the Borrower and at such reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the
Borrower and permit representatives and independent contractors of each Lender to visit and inspect any of its properties, to examine its corporate, financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its
affairs, finances and accounts with its directors, officers,

  

 71 

 
and independent public accountants, all at the expense of such Lender and at such reasonable times during normal business hours and unless an Event of Default then exists, not more frequently
than once in any fiscal year, upon reasonable advance notice to the Borrower; provided, however, that, notwithstanding the foregoing, when an Event of Default exists the Administrative Agent or any Lender (or any of their respective
representatives or independent contractors) may do any of the foregoing at the expense of the Borrower at any time during normal business hours and upon one Business Day’s notice. 
 6.11 Use of Proceeds. Use the proceeds of the Credit Extensions only: 
 (i) to support the Borrower’s commercial paper program; 
 (ii) to repay the Class B Lenders on the Class B Maturity Date, provided that (A) all Credit Extensions by the
Class B Lenders are paid in full on the Class B Maturity Date, (B) both immediately before and after such repayment of the Class B Lenders no Default or Event of Default shall exist, and (C) on a pro forma basis immediately after such
repayment of the Class B Lenders, the aggregate Class A Revolving Credit Commitments shall exceed the aggregate Outstanding Amount of the Revolving Credit Loans of each Class A Lender, plus the Outstanding Amount of all L/C
Obligations, plus the Outstanding Amount of all Swing Line Loans, by an amount not less than $75,000,000; 
 (iii) to make Permitted Tender Payments (or, if the Borrower receives consents of the holders of at least a majority in outstanding principal amount of its 15.75% Senior Notes due July 15, 2014 in connection with any tender offer
undertaken by it in connection with the issuance of the Senior Secured Notes, only that portion of the Permitted Tender Payments as shall relate to such 15.75% Senior Notes due July 15, 2014 as shall have been tendered) no earlier than the
Tender Early Settlement Date and no later than the Tender Final Settlement Date, provided that the Administrative Agent shall have received evidence to its reasonable satisfaction that pricing for the Senior Secured Notes shall have been
completed and there shall not be any impediment to the issuance thereof and provided further that an amount equal to the amount drawn for such use shall be segregated from the net proceeds of the issuance of the Senior Secured Notes remitted
by the applicable placement agent(s) for application to repay such Credit Extension, and such Credit Extension shall in any event be repaid in full within two (2) Business Days after the extension thereof; 
 (iv) to make Permitted Post-Tender Payments after the Tender Final Settlement Date and on or before December 15, 2010,
provided that (A) the aggregate of all payments under this Section 6.11(iv) do not exceed the Permitted Tender Carry-Forward Limit, and (B) both immediately before and after any such payment no Default or Event of
Default shall exist; 
 (v) to make Permitted Post-Tender Payments after December 15, 2010, provided that
(A) the aggregate of all payments under Section 6.11(iv) plus all payments under this Section 6.11(v) do not exceed the Permitted Tender Carry-Forward Limit, (B) both immediately before and after any such
payment no Default or Event of Default shall

  

 72 

 
exist, and (C) on a pro forma basis immediately after such payment, the aggregate Class A Revolving Credit Commitments shall exceed the aggregate Outstanding Amount of the Revolving
Credit Loans, plus the Outstanding Amount of all L/C Obligations, plus the Outstanding Amount of all Swing Line Loans, by an amount not less than $75,000,000; or 
 (vi) for working capital and other corporate purposes not in contravention of any Law or of any Loan Document. 
 6.12 Covenant to Guarantee Obligations and Give Security. Upon the formation or acquisition of any new direct or indirect Subsidiary
(other than any Non-Guarantor Subsidiary) by any Loan Party, or any Non-Guarantor Subsidiary no longer meeting the requirements of the definition thereof, the Borrower shall, at the Borrower’s expense: 
 (i) within 10 days after such formation or acquisition (or such longer period agreed to by the Administrative Agent), or
change in status, cause such Subsidiary, and cause each direct and indirect parent of such Subsidiary (if it has not already done so), to duly execute and deliver to the Administrative Agent (x) a guaranty or guaranty supplement, in form and
substance satisfactory to the Administrative Agent, guaranteeing the Borrower’s Obligations under the Loan Documents and (y) a joinder to the Security Agreement in the form attached thereto, and 
 (ii) within 30 days after such formation or acquisition (or such longer period agreed to by the Administrative Agent),
deliver to the Administrative Agent, (i) an incumbency certificate issued by the secretary or assistant secretary of such Guarantor, certifying as to the authority of the person executing such Guaranty on behalf of such Guarantor, (ii) a
copy of a resolution from the board of directors of such Guarantor authorizing execution and delivery of such Guaranty, and (iii) a signed copy of a favorable opinion, addressed to the Administrative Agent and the Lenders, of counsel for the
Loan Parties acceptable to the Administrative Agent as to such matters as the Administrative Agent may reasonably request. 
 At
any time upon request of the Administrative Agent, the Borrower shall, and shall cause each relevant Subsidiary to, promptly execute and deliver any and all further instruments and documents and take all such other action as the Administrative Agent
may deem necessary or desirable in obtaining the full benefits of, or (as applicable) in perfecting and preserving the Liens under the Collateral Documents. 
 6.13 [RESERVED]. 
 6.14 Financial Advisors. At the request of the
Administrative Agent, the Borrower shall engage the Financial Advisors (i) to provide financial analysis and information relating to the Borrower as reasonably requested by the Administrative Agent, including if requested a quarterly financial
forecast through a stated date to include a balance sheet, income statement and statement of cash flows that shall be in a form reasonably acceptable to the Administrative Agent (the “Forecast”) and (ii) upon the request of the
Administrative Agent, to review and report upon such other matters as the Administrative Agent may reasonably request. If such

  

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Financial Advisors are required to be engaged, the Borrower will also cause such Financial Advisors to deliver to the Administrative Agent a quarterly report providing an analysis of the variance
to the Forecast at the time of delivery of each Compliance Certificate and an updated Forecast by March 1 of each year thereafter; and shall, upon the request of the Administrative Agent, make the Financial Advisors available to answer
questions from the Administrative Agent and the Lenders concerning the Forecast. 
 ARTICLE VII 
 NEGATIVE COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation hereunder shall remain unpaid or unsatisfied, or any Letter of Credit shall remain outstanding: 
 7.01 Liens. The Borrower shall not, nor shall it permit any Subsidiary to create, incur, assume or suffer to exist any Lien upon any
of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 
 (a) Liens pursuant to
any Loan Document; 
 (b) Liens existing on the date hereof and listed on Schedule 7.01 to the Disclosure Letter and
any renewals or extensions thereof, provided that the property covered thereby is not increased and any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(a); 
 (c) Liens on property existing at the time the Borrower or any Subsidiary acquired such property, including any acquisition by means of a
merger, amalgamation or consolidation with or into the Borrower or any Subsidiary; provided, however, that such Lien may not extend to any other property of the Borrower or any Subsidiary and such Lien was not created in connection
with or in anticipation of such acquisition; 
 (d) Liens granted pursuant to the provisions of any Contractual Obligation
permitted under Section 7.08(b); 
 (e) Liens for taxes not yet due or which are being contested in good faith and
by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 
 (f) carriers’, warehousemen’s, mechanics’, materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which are not overdue for a period of more
than 60 days or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person to the extent required in accordance with
GAAP; 
 (g) pledges or deposits in the ordinary course of business in connection with workers’ compensation, unemployment
insurance and other social security legislation, other than any Lien imposed by ERISA; 
  

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 (h) deposits to secure the performance of bids, trade contracts and leases (other than
Indebtedness), statutory obligations, surety bonds (other than bonds related to judgments or litigation), performance bonds and other obligations of a like nature incurred in the ordinary course of business; 
 (i) statutory, common law or contractual Liens of landlords, any interest of title of a lessor or sublessor or a lessee or sublessee under
any lease of real estate, and easements, rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, would not reasonably be expected to have a Material Adverse Effect; 
 (j) Liens securing judgments for the payment of money not constituting an Event of Default under Section 8.01(h) or securing
appeal or other surety bonds related to such judgments; 
 (k) Liens (not securing Indebtedness) of depository institutions and
securities intermediaries (including rights of set-off or similar rights) with respect to deposit accounts or securities accounts; 
 (l) Liens on any cash earnest money deposit made by the Borrower or any Subsidiary in connection with any letter of intent or acquisition agreement that is not prohibited by this Agreement; 
 (m) licenses or sublicenses of patents, trademarks, copyrights and other intellectual property rights in the ordinary course of business and
not interfering in any respect with the ordinary conduct of the business of the Borrower and its Subsidiaries; 
 (n) Liens on
insurance proceeds securing the payment of financed insurance premiums; 
 (o) customary Liens granted in favor of a trustee to
secure fees and other amounts owing to such trustee under an indenture or other agreement pursuant to such Indebtedness permitted by Section 7.02 is issued; 
 (p) Liens securing obligations not prohibited by this Agreement in an aggregate amount not to exceed $25,000,000 at any time outstanding; 
 (q) Liens granted to secure the Senior Secured Notes and obligations under the Senior Secured Note Documents and any refinancings,
refundings, renewals or extensions of the Senior Secured Notes permitted by Section 7.02(k), which Liens are no more than co-extensive and pari passu with the Liens granted to the Administrative Agent under the Security Agreement;

 (r) Liens granted to secure Indebtedness permitted by Section 7.02(l), and which Liens are no more than
co-extensive, and either pari passu or second ranking, with the Liens granted to the Administrative Agent under the Security Agreement. 
 7.02 Indebtedness. The Borrower shall not, and shall not permit any Subsidiary to create, incur, assume or suffer to exist any Indebtedness, except: 
 (a) Indebtedness under the Loan Documents, including any Guaranty of the Obligations issued by any Subsidiary; 
  

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 (b) Indebtedness outstanding on September 26, 2008 and listed on
Schedule 7.02 to the Disclosure Letter and any refinancings, refundings, renewals or extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or
extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder;

 (c) unsecured Indebtedness of the Borrower (and which may be guaranteed by Subsidiaries), at any time outstanding in an
aggregate principal amount not to exceed $200,000,000, to be used for (i) any general corporate purposes, (ii) any Early Retirement or refinancing or exchange of the Borrower’s 7.125% Notes due June 1, 2011 or its 15.75% Senior
Notes due July 15, 2014, to the extent not repaid with the proceeds of the Senior Secured Notes or any permitted Borrowing hereunder, or its 4.625% Notes due November 1, 2014, provided that the amount of such Indebtedness is not
increased at the time of such refinancing or exchange offer, and such payment is otherwise permitted under Section 7.09(h), or (iii) any Early Retirement or refinancing or exchange of the Borrower’s Later Maturity Public
Indebtedness (excluding its 15.75% Senior Notes due July 15, 2014 and its 4.625% Notes due November 1, 2014), provided that after giving pro forma effect to such incurrence and Early Retirement, refinancing or exchange, the
Company’s cash interest expense with respect to such unsecured Indebtedness will be less than the cash interest expense on the Later Maturity Public Indebtedness so retired, refinanced or exchanged, in each case during the period from the date
of such incurrence through July 1, 2015; and provided further that the amount of such Indebtedness is not increased at the time of such refinancing or exchange offer, and such payment is otherwise permitted under
Section 7.09(g); 
 (d) Indebtedness pursuant to Swap Contracts; provided that such obligations are (or were)
entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the
value of securities issued by such Person, and not for purposes of speculation or taking a “market view”; 
 (e)
Indebtedness incurred to finance the acquisition, construction or improvement of any assets, including Capital Lease Obligations and including any such Indebtedness incurred for such purpose within 90 days after such acquisition or completion of
construction or improvement, and any Indebtedness assumed in connection with the acquisition of any such assets or secured by a Lien on any such assets prior to the acquisition thereof, and extensions, renewals and replacements of any such
Indebtedness that do not increase the outstanding principal amount thereof; provided that the aggregate principal amount of Indebtedness permitted by this clause (e) shall not exceed $25,000,000 at any time outstanding; 
  

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 (f) (i) Indebtedness of the Borrower and its Subsidiaries to the Borrower or its
Subsidiaries outstanding on September 26, 2008, (ii) Indebtedness of a Loan Party to another Loan Party, (iii) Indebtedness of a Loan Party to a Subsidiary of the Borrower that is not a Loan Party, and (iv) Indebtedness of
Subsidiaries of the Borrower that are not Loan Parties to a Loan Party that would be permitted under clause (iv) of Section 7.10(c); 
 (g) Guarantees by the Borrower or its Subsidiaries of Indebtedness otherwise permitted under this Section 7.02; 
 (h) Indebtedness arising from the honoring by a bank or other financial institution of a check, draft or similar instrument drawn against insufficient funds in the ordinary course of business or other
cash management services in the ordinary course of business; provided that (x) such Indebtedness (other than credit or purchase cards) is extinguished within five Business Days of its incurrence; and (y) such Indebtedness in respect
of credit or purchase cards is extinguished within 60 days of its incurrence; 
 (i) Indebtedness of a Subsidiary acquired after
the date of this Agreement or a corporation merged into or consolidated with the Borrower or any Subsidiary after the Agreement and Indebtedness assumed in connection with the acquisition of assets, which Indebtedness in each case exists at the time
of such acquisition, merger or consolidation and is not created in contemplation of such event and where such acquisition, merger or consolidation is permitted by this Agreement, and (ii) extensions, renewals and replacements of any such
Indebtedness that do not increase the outstanding principal amount thereof (plus any accrued and unpaid interest and redemption premium paid plus other reasonable amounts, including fees and expenses reasonably incurred in connection with any such
extension, renewal or replacement); provided that the aggregate amount of all such Indebtedness does not at any time exceed an amount at any time outstanding in excess of $10,000,000; 
 (j) Indebtedness incurred or arising in connection with the matters described in Sections 7.01(g), (h) and (j);

 (k) subject to: 
 (i) the terms of the Senior Secured Notes being consistent with a term sheet for such Senior Secured Notes, which term sheet has been approved by the Administrative Agent and the Required Lenders; and

 (ii) the Administrative Agent having entered into an intercreditor agreement containing the Minimum Conditions
and which is otherwise in form and substance satisfactory to the Required Lenders, 
 Indebtedness constituted by the Senior
Secured Notes and any refinancings, refundings, renewals or extensions thereof; provided that the principal amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an amount
equal to fees and expenses reasonably incurred by the Borrower in engaging and utilizing underwriters or initial

  

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purchasers in connection with such refinancing, provided further that no such refinancing, refunding, renewal or extension may provide for (A) an earlier final, stated maturity date,
or make provision for any amortization payments to occur earlier than the stated maturity of the Senior Secured Notes, or (B) directly or indirectly, and including any original issue discount or other method, a higher interest rate, than that
which apply to the Indebtedness being refinanced, refunded, renewed or extended; 
 (l) Indebtedness of the
Borrower to refinance in their entirety the Class A Loans or the Class B Loans; provided that (i) the principal amount of such Indebtedness is not greater than the principal amount being refinanced, except by an amount equal to a
reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing, (ii) immediately upon the incurrence or issuance thereof, the Class A Commitments and/or the Class B
Commitments shall be reduced to zero under Section 2.06(b)(iii), (iii) 100% of the Net Cash Proceeds therefrom shall be applied to fully repay such Class A Loans or Class B Loans, as set forth in
Section 2.05(b)(vi), and (iv) which, if used to repay the Loans owed to Class B Lenders, has a Stated Maturity no earlier than July 31, 2015; provided further that if any Loans or Commitments are proposed to remain
outstanding hereunder after such refinancing, the secured parties (if any) benefiting from the Liens described in Section 7.01(r) shall have become party to the Intercreditor Agreement; and 
 (m) other unsecured Indebtedness of the Borrower in an amount not to exceed $10,000,000. 
 7.03 Fundamental Changes, Dispositions. The Borrower shall not, nor shall it permit any Subsidiary to merge, dissolve, liquidate,
consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) any of its assets (whether now owned or hereafter acquired) to or in favor of any Person, or make any Disposition or enter into any
agreement to make any Disposition, except that: 
 (i) any Subsidiary may merge with (A) the Borrower,
provided that the Borrower shall be the continuing or surviving Person, (B) any other Subsidiary that is a Loan Party, provided that when any Subsidiary is merging with a Loan Party, such Loan Party shall be the continuing or
surviving Person, or (C) if such Subsidiary is not a Loan Party, any Subsidiary that is not a Loan Party; 
 (ii) any Loan Party other than the Borrower may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to the Borrower or to another Loan Party; 
 (iii) any Subsidiary that is not a Loan Party may Dispose of all or substantially all its assets (including any Disposition
that is in the nature of a liquidation) to the Borrower or any of its Subsidiaries; 
 (iv) the Borrower or any
of its Subsidiaries may make Dispositions of inventory and of obsolete, unneeded or worn out property, whether now owned or hereafter acquired, may lease or sublease excess real property, and may grant licenses of intellectual property, in each case
in the ordinary course of business; 
  

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 (v) the Borrower or any of its Subsidiaries may make Dispositions
(i) of equipment or real property to the extent that such property is exchanged for credit against the purchase price of similar replacement property, and (ii) of newspaper assets (including one or more Subsidiaries) to the extent
exchanged for other newspaper assets (including any Person that becomes a Subsidiary as a result of such exchange) so long as, after giving effect thereto, the portion of Consolidated EBITDA attributable to such Disposed assets, when added to that
portion of Consolidated EBITDA attributable to all other assets Disposed of in reliance on this subsection (v), does not exceed 20% of Consolidated EBITDA as set forth in the most recent financial information delivered to the Administrative Agent
pursuant to Section 6.01(a) or (b); 
 (vi) the Borrower or any of its Subsidiaries may enter
into one or more leveraged partnerships in connection with a Disposition of property made for fair market value and on terms satisfactory to the Administrative Agent (a “Leveraged Partnership Disposition”), provided that
(i) 100% of the Net Cash Proceeds shall be used to prepay the Loans (such amount to be allocated in accordance with the priority set forth in Section 2.05(b)(vi)), and (ii) the Borrower shall have received the prior written
consent of the Administrative Agent to its entry into such transaction and the execution and delivery of the definitive documentation in connection therewith; 
 (vii) other Dispositions so long as (w) no Default or Event of Default exists or would result therefrom, (x) after
giving pro forma effect to such transaction, the Borrower shall be in compliance with the covenants in Section 7.07, (y) such Disposition shall be (A) for fair market value and (B) at least 75% of the proceeds thereof
shall be in cash or Cash Equivalents, and (z) all Net Cash Proceeds therefrom shall be applied as set forth in Section 2.05(b)(i); provided Dispositions for consideration having a value of up to $7,500,000 in any fiscal year may be
under taken without satisfying the requirement in clause (B) above so long as the Net Cash Proceeds of the liquidation of any such consideration is applied as set forth in Section 2.05(b)(i); 
 (viii) Dispositions in connection with a joint production arrangement of equipment to a joint venture entity in exchange for
Equity Interests in or Indebtedness of the joint venture entity so long as within 10 days after such Disposition (or such longer period agreed to by the Administrative Agent), the Borrower’s or the applicable Subsidiary’s Equity Interests
or Indebtedness in such entity are pledged to the Administrative Agent; and 
 (ix) one or more Dispositions of
real estate assets to any of the Borrower’s Pension Plans as a whole asset to satisfy contribution requirements under Applicable Law with respect to such Pension Plan in lieu of cash contributions; provided that (A) the Miami
Property may not be subject to any such Disposition, (B) the aggregate market value of all assets the subject of such Dispositions shall not exceed $100,000,000, and (C) each such Disposition shall be by way of contribution only and no Net
Cash Proceeds shall arise therefrom. 
  

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 7.04 Change in Nature of Business. The Borrower shall not, nor shall it permit any
Subsidiary to, engage in any material line of business other than business in the media, advertising or marketing industries or any business substantially related or incidental thereto, including in any business involving the foregoing through the
internet. 
 7.05 Transactions with Affiliates. The Borrower shall not, nor shall it permit any Subsidiary to, enter into
any transaction of any kind with any Affiliate of the Borrower, whether or not in the ordinary course of business, other than on fair and reasonable terms substantially as favorable to the Borrower or such Subsidiary as would be obtainable by the
Borrower or such Subsidiary at the time in a comparable arm’s length transaction with a Person other than an Affiliate, provided that the foregoing restriction shall not apply to transactions between or among the Borrower and any of its
wholly-owned Subsidiaries or between and among any wholly-owned Subsidiaries. 
 7.06 Use of Proceeds. The Borrower shall
not, nor shall it permit any Subsidiary to, use the proceeds of (i) any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately for any purpose that entails a violation of, or that is inconsistent
with, Regulation U of the FRB, or (ii) any Credit Extension by a Class A Lender, whether directly or indirectly, and whether immediately, incidentally or ultimately, to repay, prepay or reduce the Obligations owed to a Class B Lender on
any day prior to the Class B Maturity Date. 
 7.07 Financial Covenants. 
 (a) Consolidated Interest Coverage Ratio. The Borrower shall not permit the Consolidated Interest Coverage Ratio as of the last day
of the following fiscal quarters of the Borrower to be less than the following ratios: 
  

			
	 Fiscal quarter ending:
	  	 Ratio:

		
	 December, 2009
	  	2.30 to 1.00
		
	 March, 2010
	  	1.50 to 1.00
		
	 June, 2010
	  	1.50 to 1.00
		
	 September, 2010
	  	1.50 to 1.00
		
	 December, 2010
	  	1.50 to 1.00
		
	 March, 2011
	  	1.50 to 1.00
		
	 June, 2011
	  	1.50 to 1.00
		
	 September, 2011
	  	1.50 to 1.00
		
	 December, 2011
	  	1.60 to 1.00
		
	 March, 2012
	  	1.60 to 1.00
		
	 June, 2012
	  	1.60 to 1.00
		
	 September, 2012
	  	1.60 to 1.00
		
	 December, 2012
	  	1.70 to 1.00
		
	 March, 2013 and thereafter
	  	1.70 to 1.00

  

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 (b) Consolidated Total Leverage Ratio. The Borrower shall not permit the Consolidated
Total Leverage Ratio as of the last day of the following fiscal quarters of the Borrower to be more than the following ratios: 
  

			
	 Fiscal quarter ending:
	  	 Ratio:

		
	 December, 2009
	  	7.00 to 1.00
		
	 March, 2010
	  	6.75 to 1.00
		
	 June, 2010
	  	6.75 to 1.00
		
	 September, 2010
	  	6.75 to 1.00
		
	 December, 2010
	  	6.75 to 1.00
		
	 March, 2011
	  	6.50 to 1.00
		
	 June, 2011
	  	6.50 to 1.00
		
	 September, 2011
	  	6.50 to 1.00
		
	 December, 2011
	  	6.50 to 1.00
		
	 March, 2012
	  	6.25 to 1.00
		
	 June, 2012
	  	6.25 to 1.00
		
	 September, 2012
	  	6.25 to 1.00
		
	 December, 2012
	  	6.25 to 1.00
		
	 March, 2013 and thereafter
	  	6.00 to 1.00

 7.08
Burdensome Agreements. The Borrower shall not, nor shall it permit any Subsidiary to, enter into or permit to exist any Contractual Obligation (other than this Agreement or any other Loan Document) that 
 (a) limits the ability (i) of any Subsidiary to make dividends or distributions to the Borrower or any Guarantor or to otherwise
transfer property to or invest in the Borrower or any Guarantor, (ii) of any Subsidiary to Guarantee the Indebtedness of the Borrower or (iii) of the Borrower or any Subsidiary to create, incur, assume or suffer to exist Liens on property
of such Person; provided, however, that this Section 7.08(a) shall not prohibit any limitations 
 (A) incurred or provided in favor of any holder of Indebtedness secured by Liens permitted under Section 7.01(b) (and any refinancings, refundings, renewals or extensions thereof permitted
under Section 7.02(a)) or Section 7.01(q) solely to the extent any such limitation relates to the property financed by or the subject of such Indebtedness and any proceeds of, accessions to, or substitutions of similar value
for such property; 
  

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 (B) existing by reason of provisions restricting assignments, subletting or
other transfers contained in leases, licenses, joint venture agreements, partnership agreements and other agreements that customarily restrict the same; 
 (C) that are or were created by virtue of any sale or transfer of, agreement to sell or transfer or option or right with respect to any property or assets (including the capital stock of any Person) not
otherwise prohibited under this Agreement; 
 (D) under any agreement, instrument or contract affecting property
or a Person at the time such property or Person was acquired by the Borrower or any of its Subsidiaries, so long as such restriction relates solely to the property or Person so acquired and was not created in connection with or in anticipation of
such acquisition; 
 (E) in effect on the date hereof and set forth on Schedule 7.08 to the Disclosure
Letter; 
 (F) in effect on the date hereof so long as the consequences of violating any such limitations could
not reasonably be expected to have a Material Adverse Effect; 
 (G) with respect to clause (iii) above, to
the extent such Contractual Obligation permits the creation, incurrence, assumption or existence of a Lien on property of the Borrower or any Subsidiary (x) to secure Obligations (including Loans, L/C Obligations and amounts that may be funded
from time to time as Loans under the Revolving Credit Commitment) in favor of the Administrative Agent on behalf of the Lenders under this Agreement and (y) to secure amounts due under one or more other financing arrangements that refinance,
refund, renew, extend or otherwise replace this Agreement in whole or in part in favor of lenders or other holders of indebtedness (or an agent on behalf of such lenders or holders) (or any subsequent refinancings, refundings, renewals, extensions
or replacements of any such arrangements), in an aggregate amount pursuant to clauses (x) and (y) of up to the Senior Secured Debt Amount and any hedging obligations related to such Obligations or amounts; or 
 (H) under any document, instrument or agreement entered into in connection with Indebtedness permitted under
Section 7.02(k) or Section 7.02(l); 
 (b) requires the grant of a Lien to secure an obligation of such
Person if a Lien is granted to secure another obligation of such Person, except for 
 (i) any Contractual
Obligation in effect (1) on the date hereof and set forth on Schedule 7.08 to the Disclosure Letter or (2) at the time any Subsidiary becomes a Subsidiary of the Borrower, so long as such Contractual Obligation was not entered into
solely in contemplation of such Person becoming a Subsidiary of the Borrower, and any refinancings, refundings, renewals or extensions of any such obligation specified in clause (1) or clause (2) above; provided that the amount of
such obligation is not

  

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increased at the time of such refinancing, refunding, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably
incurred, in connection with such refinancing, refunding, renewal or extension and by an amount equal to any existing commitments unutilized thereunder; provided further that any incurrence or issuance of an obligation may be deemed a
refinancing, refunding, renewal or extension of an earlier obligation if such later obligation is incurred or issued within 180 days of the date of a refinancing, refunding, renewal or extension and is set aside or earmarked for such refinancing,
refunding, renewal or extension (as evidenced by a resolution of the board of directors of the Borrower); 
 (ii)
any such Contractual Obligation providing for the granting of a Lien that would be permitted under Section 7.01(q); or 
 (iii) any such Contractual Obligation under any document, instrument or agreement entered into in connection with Indebtedness permitted under Section 7.02(k) or Section 7.02(l).

 7.09 Restricted Payments. The Borrower shall not, nor shall it permit any Subsidiary to, declare or make, directly or
indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that, so long as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 

(a) each Subsidiary may make Restricted Payments to the Borrower, any Subsidiaries of the Borrower that are Guarantors and any other
Person that owns a direct Equity Interest in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made; 
 (b) the Borrower and each Subsidiary may declare and make dividend payments or other distributions payable solely in the common stock or
other common Equity Interests of such Person; 
 (c) the Borrower may distribute rights pursuant to any existing shareholder
rights plan or redeem such rights in accordance with the terms of any such existing shareholder rights plan; 
 (d) the Borrower
and its Subsidiaries may make Restricted Payments in connection with or pursuant to any of its employee benefits plans or in connection with the employment, termination or compensation of its employees, officers, directors or consultants, including
any repurchase or retention of Equity Interests in payment of withholding taxes in connection with equity-based compensation arrangements; 
 (e) the Borrower may make non-cash repurchases of Equity Interests that are deemed to occur upon exercise of stock options if the proceeds of such repurchases are deemed to represent a portion of the
exercise price of such options; 
  

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 (f) the Borrower may repurchase fractional shares of its Equity Interests arising out of
stock dividends, splits or combinations, business combinations or conversion of convertible securities; 
 (g) the Borrower may
make any payment at the maturity of, or any payment constituting an Early Retirement of: 
 (i) its 7.125% Notes
due June 1, 2011 or the 4.625% Notes due November 1, 2014 so long as such payment is funded solely from: (a) Qualified Bonds, or (b) from Indebtedness permitted under Section 7.02(c); provided, that the Indebtedness
incurred under clauses (a) or (b) above shall have a Stated Maturity of no earlier than July 1, 2016; and 
 (ii) its Later Maturity Public Indebtedness (excluding its 4.625% Notes due November 1, 2014), so long as such payment is funded solely from (a) Qualified Bonds, or (b) from Indebtedness
permitted under Section 7.02(c); provided that any such Indebtedness incurred under clauses (a) or (b) shall have a Stated Maturity of no earlier than July 1, 2016; 
 (h) the Borrower may (i) declare and pay cash dividends to its stockholders and (ii) purchase, redeem or otherwise acquire for
cash Equity Interests issued by it, if after giving effect thereto (A) the aggregate amount of such dividends, purchases, redemptions or acquisitions paid or made after May 20, 2009 under clauses (i) and (ii) would be less than
$20,000,000, and (B) if such dividend is declared or such purchase, redemption or acquisition is made at a time when the amount of Consolidated Indebtedness of the Borrower would not cause the Consolidated Total Leverage Ratio to equal or
exceed 3.00 to 1.00 calculated using the Consolidated EBITDA of the Borrower as set forth in the most recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a); 
 (i) the Borrower may make any payment at the maturity of, or any payment constituting an Early Retirement of, its 7.125% Notes due
June 1, 2011, its 15.75% Senior Notes due July 15, 2014, or its 4.625% Notes due November 1, 2014, if after giving effect thereto (A) the aggregate amount of the related series after September 15, 2008 would be less than
$50,000,000, and (B) the amount of Consolidated Indebtedness of the Borrower would not cause the Consolidated Total Leverage Ratio to equal or exceed 4.00 to 1.00 calculated using the Consolidated EBITDA of the Borrower as set forth in the most
recent Compliance Certificate received by the Administrative Agent pursuant to Section 6.02(a); 
 (j) the Borrower
may make the Other Permitted Payments solely with the Net Cash Proceeds from the issuance of Senior Secured Notes and, thereafter, the Borrower may make the Permitted Post-Tender Payments to the extent permitted hereunder; and 
 (k) the Borrower may make any payment required under the Senior Secured Notes (or any other Indebtedness permitted under
Section 7.02(k)) upon an asset disposition. 
 7.10 Investments. The Borrower shall not, nor shall it permit
any Subsidiary to make or hold any Investments, except: 
 (a) Investments held by the Borrower and its Subsidiaries in the form
of Cash Equivalents or Investments that were Cash Equivalents when made; 
  

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 (b) advances to officers, directors and employees of the Borrower and Subsidiaries in an
aggregate amount not to exceed $3,000,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 
 (c) (i) Investments by the Borrower and its Subsidiaries in their respective Subsidiaries outstanding on September 26, 2008, (ii) additional Investments by the Borrower and its Subsidiaries in
the Loan Parties, (iii) additional Investments by Subsidiaries of the Borrower that are not Loan Parties in other Subsidiaries that are not Loan Parties, and (iv) additional investments by the Loan Parties in Subsidiaries that are not Loan
Parties in an aggregate amount outstanding at any time of $5,000,000; 
 (d) Investments consisting of extensions of credit in
the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors to
the extent reasonably necessary in order to prevent or limit loss; 
 (e) Guarantees of ordinary course obligations of
Subsidiaries of the Borrower that do not constitute Indebtedness and Guarantees permitted by Section 7.02; 
 (f)
Investments existing on September 26, 2008 and set forth on Schedule 7.10 to the Disclosure Letter; 
 (g) the
purchase or other acquisition of all of the Equity Interests in, or all or substantially all of the property of, any Person that, upon the consummation thereof, will be wholly-owned directly by the Borrower or one or more of its wholly-owned
Subsidiaries (including as a result of a merger or consolidation); provided that, with respect to each purchase or other acquisition made pursuant to this Section 7.10(g): 
 (i) any such newly-created or acquired Subsidiary shall comply with the requirements of Section 6.12; 

(ii) the lines of business of the Person to be (or the property of which is to be) so purchased or otherwise acquired
shall be substantially the same lines of business, or reasonably related or incidental thereto, as one or more of the principal businesses of the Borrower and its Subsidiaries in the ordinary course; 
 (iii) such purchase or other acquisition shall not include or result in any contingent liabilities that could reasonably be
expected to be material to the business, financial condition, operations or prospects of the Borrower and its Subsidiaries, taken as a whole (as determined in good faith by the board of directors (or the persons performing similar functions) of the
Borrower or such Subsidiary if the board of directors is otherwise approving such transaction and, in each other case, by a Responsible Officer); 
 (iv) the total cash and noncash consideration (including the fair market value of all Equity Interests issued or transferred to the sellers thereof measured at the time of

  

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execution of the acquisition agreement, the reasonably estimated amount of earnouts and other contingent payment obligations to, and the aggregate cash amounts paid or to be paid under
noncompete, consulting and other affiliated agreements with, the sellers thereof, and all assumptions of Indebtedness) paid by or on behalf of the Borrower and its Subsidiaries for any such purchase or other acquisition, when aggregated with the
total cash and noncash consideration paid by or on behalf of the Borrower and its Subsidiaries for all other purchases and other acquisitions made by the Borrower and its Subsidiaries pursuant to this Section 7.10(g), shall not exceed
the Available Investment Basket Amount; and 
 (v) (A) immediately before and immediately after giving pro forma
effect to any such purchase or other acquisition, no Default shall have occurred and be continuing and (B) immediately after giving effect to such purchase or other acquisition, the Borrower and its Subsidiaries shall be in pro forma compliance
with all of the covenants set forth in Section 7.07, such compliance to be determined on the basis of the financial information most recently delivered to the Administrative Agent and the Lenders pursuant to Section 6.01(a)
or (b) as though such purchase or other acquisition had been consummated as of the first day of the fiscal period covered thereby. 
 (h) any Investment by a Loan Party resulting from the completion of a Leveraged Partnership Disposition; 
 (i) any Investment received as non-cash consideration from a Disposition permitted under Section 7.03; 
 (j) Investments consisting of pledges and deposits permitted by Section 7.01(g) and (h); 
 (k) Investments of any Person that becomes a Subsidiary after September 26, 2008; provided that (i) such Investments exist at the time such Person becomes a Subsidiary and (ii) such
Investments were not made in anticipation of such Person becoming a Subsidiary; 
 (l) Investments pursuant to Swap Contracts
permitted by Section 7.02(d); 
 (m) Investments consisting of acquisitions of newspaper assets (including
Investments in any Person that becomes a Subsidiary) in an exchange permitted under Section 7.03(v) and any Investment received in a transaction described in Section 7.03(viii); and 
 (n) additional Investments in an amount not to exceed the Available Investment Basket so long as within 10 days after such Investment (or
such longer period agreed to by the Administrative Agent), the Borrower’s or the applicable Subsidiary’s interests in such Investment are pledged to the Administrative Agent to the extent required by the Security Agreement. 
 7.11 Amendments of Organization Documents. The Borrower shall not, nor shall it permit any Subsidiary to amend any of its
Organization Documents in a manner that is adverse to the Lenders. 
  

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 7.12 Accounting Changes. The Borrower shall not, nor shall it permit any Subsidiary
to make any change in (a) accounting policies or reporting practices, except as required or permitted by GAAP, or (b) fiscal year. 
 ARTICLE VIII 
 EVENTS OF DEFAULT AND REMEDIES 
 8.01 Events of Default. Any of the following shall constitute an Event of Default: 
 (a) Non-Payment. The Borrower or any other Loan Party fails to pay (i) when and as required to be paid herein, any amount of
principal of any Loan or any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within three Business Days after the same becomes due, any interest on any Loan or on any L/C Obligation, or any fee due
hereunder, or (iii) within five Business Days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 
 (b) Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of Section 6.03(a), 6.05, 6.10 or 6.11 or
Article VII; or 
 (c) Other Defaults. Any Loan Party fails to perform or observe any other covenant or
agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for 30 days after the earlier of (i) knowledge by a Responsible Officer of the
Borrower of such failure or (ii) written notice thereof from the Administrative Agent or any Lender; or 
 (d)
Representations and Warranties. Any representation or warranty or certification made or deemed made by or on behalf of the Borrower or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection
herewith or therewith shall be incorrect or misleading in any material respect when made or deemed made; or 
 (e)
Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of the Senior Secured Notes, or
in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn committed or available amounts and including amounts owing to all creditors
under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating to the Senior Secured Notes, or relating to any such Indebtedness or Guarantee
or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs (including, without limitation, the triggering of any change in control or similar event with respect to the Borrower), the effect of
which default or other event is to cause, or to permit the holder or holders of the Senior Secured Notes or such Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or
beneficiary or beneficiaries), as applicable, to cause, with the giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to
repurchase, prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or

  

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cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event
of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event (as so defined) under such Swap Contract as to which a Loan Party or
any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is greater than the Threshold Amount; or 
 (f) Insolvency Proceedings, Etc. Any Loan Party, any Material Subsidiary or three or more Subsidiaries that are not Material
Subsidiaries institute or consent to the institution of any proceeding under any Debtor Relief Law, or make an assignment for the benefit of creditors; or apply for or consent to the appointment of any receiver, trustee, custodian, conservator,
liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of
such Person(s) and the appointment continues undischarged or unstayed for 60 calendar days; or any proceeding under any Debtor Relief Law relating to any such Person(s) or to all or any material part of their property is instituted without the
consent of such Person(s) and continues undismissed or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 
 (g) Inability to Pay Debts; Attachment. (i) Any Loan Party, any Material Subsidiary or three or more Subsidiaries that are not Material Subsidiaries become unable or admit in writing their
inability or fail generally to pay their debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or levied against all or any material part of the property of any such Person(s) and is not
released, vacated or fully bonded within 30 days after its issue or levy; or 
 (h) Judgments. There is entered against
any Loan Party or any Subsidiary thereof any one or more final judgments or orders for the payment of money in an aggregate amount exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer
does not dispute coverage), and (A) enforcement proceedings are commenced by any creditor upon such judgment or order and such enforcement remains unstayed or such judgment remains unsatisfied for a period of 10 days, or (B) there is a
period of 30 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or otherwise, is not in effect or such judgment is unsatisfied; or 
 (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or Multiemployer Plan which has resulted or could reasonably
be expected to result in liability of the Borrower under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or (ii) the Borrower or any ERISA Affiliate fails to
pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan in an aggregate amount in excess of the Threshold Amount;
or 
 (j) Invalidity of Loan Documents. Any Loan Document, at any time after its execution and delivery and for any
reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or

  

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any Loan Party or any other Person contests in any manner the validity or enforceability of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under
any Loan Document, or purports to revoke, terminate or rescind any Loan Document; or 
 (k) Change of Control. There
occurs any Change of Control with respect to the Borrower. 
 (l) Collateral Documents. Any Collateral Document shall for
any reason (other than pursuant to the terms thereof) cease to create a valid and perfected first priority Lien (subject to Liens permitted by Section 7.01) on the Collateral purported to be covered thereby. 
 (m) Subordination. (i) The subordination provisions of the documents evidencing or governing any subordinated Indebtedness (the
“Subordinated Provisions”) shall, in whole or in part, terminate, cease to be effective or cease to be legally valid, binding and enforceable against any holder of the applicable subordinated Indebtedness; or (ii) the Borrower
or any other Loan Party shall, directly or indirectly, disavow or contest in any manner (A) the effectiveness, validity or enforceability of any of the Subordination Provisions, (B) that the Subordination Provisions exist for the benefit
of the Administrative Agent, the Lenders and the L/C Issuer or (C) that all payments of principal of or premium and interest on the applicable subordinated Indebtedness, or realized from the liquidation of any property of any Loan Party, shall
be subject to any of the Subordination Provisions. 
 8.02 Remedies Upon Event of Default. If any Event of Default occurs
and is continuing, the Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the commitment of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated;

 (b) declare the unpaid principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other
amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby expressly waived by the Borrower; 
 (c) require that the Borrower Cash Collateralize the L/C Obligations (in an amount equal to the then Outstanding Amount thereof); and

 (d) exercise on behalf of itself, the Lenders and the L/C Issuer all rights and remedies available to it, the Lenders and the
L/C Issuer under the Loan Documents or applicable law; 
 provided, however, that upon the occurrence of any Event of Default
pursuant to clauses (f) or (g) of Section 8.01, the obligation of each Lender to make Loans and any obligation of the L/C Issuer to make L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all
outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrower to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each
case without further act of the Administrative Agent or any Lender. 
  

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 8.03 Application of Funds. After the exercise of remedies provided for in
Section 8.02 (or after the Loans have automatically become immediately due and payable and the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02), any
amounts received on account of the Obligations (which amounts shall not include amounts shared pro rata under the Security Agreement with the trustee for the Senior Secured Notes prior to release to the Administrative Agent for distribution
hereunder) shall be applied by the Administrative Agent in the following order: 
 First, to payment of that portion of
the Obligations constituting fees, indemnities, expenses and other amounts (including reasonable fees, charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent
in its capacity as such; 
 Second, to payment of that portion of the Obligations constituting fees, indemnities and
other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders and the L/C Issuer (including reasonable fees, charges and disbursements of counsel to the respective Lenders and the L/C Issuer and amounts payable
under Article III), ratably among them in proportion to the respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on the Loans, L/C Borrowings and other Obligations, ratably among the Lenders
and the L/C Issuer in proportion to the respective amounts described in this clause Third payable to them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and L/C Borrowings, ratably among the Lenders and the L/C Issuer in proportion to the respective amounts described in this clause
Fourth held by them; 
 Fifth, to the Administrative Agent for the account of the L/C Issuer, to Cash
Collateralize that portion of L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit; and 
 Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law. 
 Subject to Section 2.03(c), amounts used to Cash Collateralize the aggregate undrawn amount of Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings
under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral after all Letters of Credit have either been fully drawn or expired, such remaining amount shall be applied to the other Obligations, if any, in the
order set forth above. 
 ARTICLE IX 
 ADMINISTRATIVE AGENT 
 9.01 Appointment and Authority. 

(a) Each of the Lenders and the L/C Issuer hereby irrevocably appoints Bank of America to act on its behalf as the Administrative Agent
hereunder and under the other Loan

  

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Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof,
together with such actions and powers as are reasonably incidental thereto. The provisions of this Article are solely for the benefit of the Administrative Agent, the Lenders and the L/C Issuer, and the Borrower shall not have rights as a third
party beneficiary of any of such provisions. 
 (b) The Administrative Agent shall also act as the “collateral agent”
under the Loan Documents, and each of the Lenders and the L/C Issuer hereby irrevocably appoints and authorizes the Administrative Agent to act as the agent of such Lender and the L/C Issuer for purposes of acquiring, holding and enforcing any and
all Liens on Collateral granted by any of the Loan Parties to secure any of the Obligations, together with such powers and discretion as are reasonably incidental thereto. In this connection, the Administrative Agent, as “collateral agent”
and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to Section 9.05 for purposes of holding or enforcing any Lien on the collateral (or any portion thereof) granted under the Collateral
Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative Agent), shall be entitled to the benefits of all provisions of this Article IX and Article XI (including
Section 10.04(c), as though such co-agents, sub-agents and attorneys-in-fact were the “collateral agent” under the Loan Documents) as if set forth in full herein with respect thereto. 
 9.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its
capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise
requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity for and
generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 
 9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth
herein and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: 
 (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing; 
 (b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that
the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or in the other Loan Documents), provided that the
Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any Loan Document or applicable law; and 
  

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 (c) shall not, except as expressly set forth herein and in the other Loan
Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any
of its Affiliates in any capacity. 
 (d) Test Sentenance. Now is the time for all good men to come to the aide
of their country where ever that may be. 
 The Administrative Agent shall not be liable for any action taken or not taken by it
(i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the circumstances as
provided in Sections 10.01 and 8.02) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default, except with respect to defaults in the
payment of principal, interest and fees required to be paid to the Administrative Agent for the account of the Lenders, unless and until notice describing such Default is given to the Administrative Agent by the Borrower, a Lender or the L/C Issuer.

 The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(iii) the performance or observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other Loan Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the Collateral Documents, (v) the value or the sufficiency of any Collateral, or
(vi) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 
 9.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been
signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability
for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender or the L/C Issuer, the Administrative
Agent may presume that such condition is satisfactory to such Lender or the L/C Issuer unless the Administrative Agent shall have received notice to the contrary from such Lender or the L/C Issuer prior to the making of such Loan or the issuance of
such Letter of Credit. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in
accordance with the advice of any such counsel, accountants or experts. 
  

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 9.05 Delegation of Duties. The Administrative Agent may perform any and all of its
duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all of its
duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and
shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. 
 9.06 Resignation of Administrative Agent. The Administrative Agent may at any time give notice of its resignation to the Lenders, the L/C Issuer and the Borrower. Upon receipt of any such notice of
resignation, the Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor, which shall be a bank with an office in the United States, or an Affiliate of any such bank with an office in the United States. If no
such successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on
behalf of the Lenders and the L/C Issuer, appoint a successor Administrative Agent meeting the qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has
accepted such appointment, then such resignation shall nonetheless become effective in accordance with such notice and (a) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan
Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Lenders or the L/C Issuer under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral
security until such time as a successor Administrative Agent is appointed) and (b) all payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender and the
L/C Issuer directly, until such time as the Required Lenders appoint a successor Administrative Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor
shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or
under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise
agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation hereunder and under the other Loan Documents, the provisions of this Article and Section 10.04 shall continue in effect for the
benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent.

 Any resignation by Bank of America as Administrative Agent pursuant to this Section shall also constitute its resignation as
L/C Issuer and Swing Line Lender. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, (i) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the
retiring L/C Issuer and Swing Line Lender, (ii) the retiring L/C Issuer and Swing Line Lender shall be discharged from all of their respective duties and obligations hereunder or under the other Loan

  

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Documents, and (iii) the successor L/C Issuer shall issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other
arrangements satisfactory to the retiring L/C Issuer to effectively assume the obligations of the retiring L/C Issuer with respect to such Letters of Credit. 
 9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender and the L/C Issuer acknowledges that it has, independently and without reliance upon the Administrative Agent or any other
Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender and the L/C Issuer also acknowledges that it will,
independently and without reliance upon the Administrative Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in
taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 
 9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the Arrangers or the Syndication Agent listed on the cover page hereof shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender or the L/C Issuer hereunder. 
 9.09 Administrative Agent May File Proofs of Claim. In case of the pendency of any proceeding under any Debtor Relief Law or any
other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or L/C Obligation shall then be due and payable as herein expressed or by declaration or otherwise and irrespective of
whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered, by intervention in such proceeding or otherwise 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans,
L/C Obligations and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable in order to have the claims of the Lenders, the L/C Issuer and the Administrative Agent (including any claim for
the reasonable compensation, expenses, disbursements and advances of the Lenders, the L/C Issuer and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders, the L/C Issuer and the Administrative Agent
under Sections 2.03(i) and (j), 2.09 and 10.04) allowed in such judicial proceeding; and 
 (b) to collect and receive any monies or other property payable or deliverable on any such claims and to distribute the same; 
 and
any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any such judicial proceeding is hereby authorized by each Lender and the L/C Issuer to make such payments to the Administrative Agent and, if the
Administrative Agent shall consent to the making of such payments directly to the Lenders and the L/C Issuer, to pay to the Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the
Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.09 and 10.04. 
  

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 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize
or consent to or accept or adopt on behalf of any Lender or the L/C Issuer any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender or the L/C Issuer to authorize the Administrative
Agent to vote in respect of the claim of any Lender or the L/C Issuer or in any such proceeding. 
 9.10 Collateral and
Guaranty Matters. The Lenders and the L/C Issuer irrevocably authorize the Administrative Agent, at its option and in its discretion, 
 (a) to release any Lien on any property granted to or held by the Administrative Agent under any Loan Document (i) upon termination of the Aggregate Commitments and payment in full of all Obligations
(other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit, (ii) that is sold or to be sold as part of or in connection with any sale permitted hereunder or under any other Loan Document, or
(iii) if approved, authorized or ratified in writing in accordance with Section 10.01; and 
 (b) to release any Guarantor from its obligations under the Guaranty if such Person ceases to be a Subsidiary as a result of a transaction permitted hereunder. 
 Upon request by the Administrative Agent at any time, the Required Lenders will confirm in writing the Administrative Agent’s authority to release its interest in particular types or items of
property, or to release any Guarantor from its obligations under the Guaranty pursuant to this Section 9.10. In each case as specified in this Section 9.10, the Administrative Agent will, at the Borrower’s expense,
execute and deliver to the applicable Loan Party such documents as such Loan Party may reasonably request to evidence the release of such property, or to release such Guarantor from its obligations under the Guaranty, in each case in accordance with
the terms of the Loan Documents and this Section 9.10. 
 9.11 Authorization for Intercreditor Agreement. The
Lenders and the L/C Issuer irrevocably authorize the Administrative Agent to enter into and perform its obligations under the Intercreditor Agreement and any amendments thereto approved in accordance with the terms thereof. 
 ARTICLE X 
 MISCELLANEOUS 
 10.01 Amendments, Etc. No amendment or waiver of any provision of this Agreement or any
other Loan Document, and no consent to any departure by the Borrower or any other Loan Party therefrom, shall be effective unless in writing signed by the Required Lenders and the Borrower or the applicable Loan Party, as the case may be, and
acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given; provided, however, that no such amendment, waiver or consent
shall: 
 (a) waive any condition set forth in Section 4.01 (other than Section 4.01(b), to the extent
related to the Administrative Agent, or (c)), or, in the case of the initial Credit Extension, Section 4.02, without the written consent of each Lender; 
  

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 (b) without limiting the generality of clause (a) above, waive any condition set forth
in Section 4.02 as to any Credit Extension under a particular Facility without the written consent of the Required Revolving Lenders, the Required Term A Lenders or the Required Bridge Lenders, as the case may be; 
 (c) extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) without
the written consent of such Lender; 
 (d) postpone any date fixed by this Agreement or any other Loan Document for (i) any
payment of principal, interest, fees or other amounts due to the Lenders (or any of them) hereunder or under such other Loan Document without the written consent of each Lender entitled to such payment or (ii) any scheduled reduction of any
Facility hereunder or under any other Loan Document without the written consent of each Appropriate Lender; 
 (e) reduce the
principal of, or the rate of interest specified herein on, any Loan or L/C Borrowing, or (subject to clause (iv) of the second proviso to this Section 10.01) any fees or other amounts payable hereunder or under any other Loan
Document without the written consent of each Lender entitled to such amount; provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default Rate” or to waive any
obligation of the Borrower to pay interest or Letter of Credit Fees at the Default Rate; 
 (f) change
(i) Section 2.13 or Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender or (ii) the order of application of any reduction in the
Commitments or any prepayment of Loans among the Facilities from the application thereof set forth in the applicable provisions of Section 2.05(b) in any manner that materially and adversely affects the Lenders under a Facility without
the written consent of (i) if such Facility is the Term A Facility, the Required Term A Lenders, (ii) if such Facility is the Bridge Facility, the Required Bridge Lenders and (iii) if such Facility is the Revolving Credit Facility,
the Required Revolving Lenders; 
 (g) change (i) any provision of this Section 10.01 or the definition of
“Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any consent hereunder (other than the
definitions specified in clause (ii) of this Section 10.01(g)), without the written consent of each Lender or (ii) the definition of “Required Revolving Lenders,” “Required Term A Lenders,” or “Required
Bridge Lenders” without the written consent of each Lender under the applicable Facility; 
 (h) except in connection with
a Disposition permitted under Section 7.03 or as set forth in Section 9.10(b), release all or substantially all of the value of the Guaranty, without the written consent of each Lender; or 
 (i) impose any greater restriction on the ability of any Lender under a Facility to assign any of its rights or obligations hereunder
without the written consent of (i) if such Facility

  

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is the Term A Facility, the Required Term A Lenders, (ii) if such Facility is the Bridge Facility, the Required Bridge Lenders and (iii) if such Facility is the Revolving Credit
Facility, the Required Revolving Lenders; 
 (j) release all or substantially all of the Collateral in any transaction or series
of related transactions without the written consent of each Lender; 
 and, provided further, that (i) no amendment, waiver or
consent shall, unless in writing and signed by the L/C Issuer in addition to the Lenders required above, affect the rights or duties of the L/C Issuer under this Agreement or any Issuer Document relating to any Letter of Credit issued or to be
issued by it; (ii) no amendment, waiver or consent shall, unless in writing and signed by the Swing Line Lender in addition to the Lenders required above, affect the rights or duties of the Swing Line Lender under this Agreement; (iii) no
amendment, waiver or consent shall, unless in writing and signed by the Administrative Agent in addition to the Lenders required above, affect the rights or duties of the Administrative Agent under this Agreement or any other Loan Document; and
(iv) the Fee Letter may be amended, or rights or privileges thereunder waived, in a writing executed only by the parties thereto. Notwithstanding anything to the contrary herein, no Defaulting Lender shall have any right to approve or
disapprove any amendment, waiver or consent hereunder, except that the Commitment of such Lender may not be increased or extended without the consent of such Lender. 
 If any Lender does not consent to a proposed amendment, waiver, consent or release with respect to any Loan Document that requires the consent of each Lender and that has been approved by the Required
Lenders, the Borrower may replace such non-consenting Lender in accordance with Section 10.13; provided that such amendment, waiver, consent or release can be effected as a result of the assignment contemplated by such Section
(together with all other such assignments required by the Borrower to be made pursuant to this paragraph). 
 10.02 Notices;
Effectiveness; Electronic Communications. 
 (a) Notices Generally. Except in the case of notices and other
communications expressly permitted to be given by telephone (and except as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier
service, mailed by certified or registered mail or sent by facsimile as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows:

 (i) if to the Borrower, the Administrative Agent, the L/C Issuer or the Swing Line Lender, to the address,
facsimile number, electronic mail address or telephone number specified for such Person on Schedule 10.02; and 
 (ii) if to any other Lender, to the address, facsimile number, electronic mail address or telephone number specified in its Administrative Questionnaire. 
 Notices sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices sent
by facsimile shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next business day for the recipient). Notices
delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 
  

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 (b) Electronic Communications. Notices and other communications to the Lenders and
the L/C Issuer hereunder may be delivered or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply
to notices to any Lender or the L/C Issuer pursuant to Article II if such Lender or the L/C Issuer, as applicable, has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic
communication. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of
such procedures may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes,
(i) notices and other communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as
available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or communication shall be deemed to have been sent at
the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its e-mail address as
described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor. 
 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS
OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR
PURPOSE, NON-INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related
Parties (collectively, the “Agent Parties”) have any liability to the Borrower, any Lender, the L/C Issuer or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise)
arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the Internet, except to the extent that such losses, claims, damages, liabilities or expenses are determined by a court of competent
jurisdiction by a final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Agent Party; provided, however, that in no event shall any Agent Party have any liability to the Borrower, any
Lender, the L/C Issuer or any other Person for indirect, special, incidental, consequential or punitive damages (as opposed to direct or actual damages). 
  

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 (d) Change of Address, Etc. Each of the Borrower, the Administrative Agent, the L/C
Issuer and the Swing Line Lender may change its address, facsimile or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, facsimile or telephone number for
notices and other communications hereunder by notice to the Borrower, the Administrative Agent, the L/C Issuer and the Swing Line Lender. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the
Administrative Agent has on record (i) an effective address, contact name, telephone number, facsimile number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such
Lender. 
 (e) Reliance by Administrative Agent, L/C Issuer and Lenders. The Administrative Agent, the L/C Issuer
and the Lenders shall be entitled to rely and act upon any notices (including telephonic Committed Loan Notices and Swing Line Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner
specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the
Administrative Agent, the L/C Issuer, each Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower.
All telephonic notices to and other telephonic communications with the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 
 10.03 No Waiver; Cumulative Remedies. No failure by any Lender, the L/C Issuer or the Administrative Agent to exercise, and no delay
by any such Person in exercising, any right, remedy, power or privilege hereunder or under any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder
preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive
of any rights, remedies, powers and privileges provided by law. 
 Notwithstanding anything to the contrary contained herein or
in any other Loan Document, the authority to enforce rights and remedies hereunder and under the other Loan Documents against the Loan Parties or any of them shall be vested exclusively in, and all actions and proceedings at law in connection with
such enforcement shall be instituted and maintained exclusively by, the Administrative Agent in accordance with Section 8.02 for the benefit of all the Lenders and the L/C Issuer; provided, however, that the foregoing shall
not prohibit (a) the Administrative Agent from exercising on its own behalf the rights and remedies that inure to its benefit (solely in its capacity as Administrative Agent) hereunder and under the other Loan Documents, (b) the L/C Issuer
or the Swing Line Lender from exercising the rights and remedies that inure to its benefit (solely in its capacity as L/C Issuer or Swing Line Lender, as the case may be) hereunder and under the other Loan Documents, (c) any Lender from
exercising setoff rights in accordance with Section 10.03 (subject to the terms of Section 2.13) or (d) any Lender from filing proofs of claim or appearing and filing pleadings on its own behalf during the pendency of a
proceeding relative to any Loan Party under any Debtor Relief Law; and provided, further, that if at any time there is no Person acting as Administrative Agent hereunder and under

  

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the other Loan Documents, then (i) the Required Lenders shall have the rights otherwise ascribed to the Administrative Agent pursuant to Section 8.02 and (ii) in addition to
the matters set forth in clauses (b), (c) and (d) of the preceding proviso and subject to Section 2.13, any Lender may, with the consent of the Required Lenders, enforce any rights and remedies available to it and as authorized
by the Required Lenders. Notwithstanding any other provision of this Article X to the contrary, the Administrative Agent shall not be required to verify the payment of, or that other satisfactory arrangements have been made with respect
to, obligations to the Lenders or their Affiliates arising under treasury or cash management agreements and Swap Contracts unless the Administrative Agent has received written notice of such obligations, together with such supporting documentation
as the Administrative Agent may request, from the applicable treasury or cash management Lender or swap counterparty, as the case may be. 
 10.04 Expenses; Indemnity; Damage Waiver. 
 (a) Costs and Expenses.
The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates (including the reasonable fees, charges and disbursements of counsel for the Administrative Agent), in connection with the
syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any amendments, modifications or waivers of the provisions hereof or
thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the L/C Issuer in connection with the issuance, amendment, renewal or extension of any Letter
of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Administrative Agent, any Lender or the L/C Issuer (including the fees, charges and disbursements of any counsel for the Administrative Agent,
any Lender or the L/C Issuer) in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with Loans made
or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 
 (b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each Lender
and the L/C Issuer, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses (including the fees, charges and disbursements of any counsel for any Indemnitee) incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower or any other Loan Party arising out of, in connection
with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or
thereunder or the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan
Documents, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the L/C Issuer to honor a demand for payment under a Letter of Credit if the documents presented in connection with such
demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Hazardous

  

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Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or
(iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party,
and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined
by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any other Loan Party against an
Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a
court of competent jurisdiction. 
 (c) Reimbursement by Lenders. To the extent that the Loan Parties for any reason
fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof), the L/C Issuer or any Related Party of any of the foregoing, but without
limiting the obligation of the Borrower to do so, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent), the L/C Issuer or such Related Party, as the case may be, such Lender’s Applicable Percentage (determined
as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was
incurred by or asserted against the Administrative Agent (or any such sub-agent) or the L/C Issuer in its capacity as such, or against any Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) or L/C
Issuer in connection with such capacity. The obligations of the Lenders under this subsection (c) are subject to the provisions of Section 2.12(e). 
 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of
liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated
hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended
recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan
Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a final and nonappealable judgment of a court of
competent jurisdiction. 
 (e) Payments. All amounts due under this Section shall be payable not later than ten Business
Days after demand therefor. 
 (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the L/C Issuer and the Swing Line Lender, the replacement of any Lender, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 
  

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 10.05 Payments Set Aside. To the extent that any payment by or on behalf of the
Borrower is made to the Administrative Agent, the L/C Issuer or any Lender, or the Administrative Agent, the L/C Issuer or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently
invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by the Administrative Agent, the L/C Issuer or such Lender in its discretion) to be repaid to a trustee, receiver or any
other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then (a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force
and effect as if such payment had not been made or such setoff had not occurred, and (b) each Lender and the L/C Issuer severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so
recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand to the date such payment is made at a rate per annum equal to the Federal Funds Rate from time to time in effect. The obligations of the Lenders
and the L/C Issuer under clause (b) of the preceding sentence shall survive the payment in full of the Obligations and the termination of this Agreement. 
 10.06 Successors and Assigns. 
 (a) Successors and Assigns
Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any other Loan Party may assign
or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender and no Lender may assign or otherwise transfer any of its rights or obligations hereunder except
(i) to an assignee in accordance with the provisions of Section 10.06(b), (ii) by way of participation in accordance with the provisions of Section 10.06(d), or (iii) by way of pledge or assignment of a
security interest subject to the restrictions of Section 10.06(f) (and any other attempted assignment or transfer by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer
upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related
Parties of each of the Administrative Agent, the L/C Issuer and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights and obligations under this Agreement (including all or a portion of its
Commitment(s) and the Loans (including for purposes of this Section 10.06(b), participations in L/C Obligations and in Swing Line Loans) at the time owing to it); provided that any such assignment shall be subject to the following
conditions: 
 (i) Minimum Amounts. 
  

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 (A) in the case of an assignment of the entire remaining amount of the
assigning Lender’s Commitment under any Facility and the Loans at the time owing to it under such Facility or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and

 (B) in any case not described in subsection (b)(i)(A) of this Section, the aggregate amount of the Commitment
(which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such assignment, determined as of the date the
Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not be less than $5,000,000, in the case of
any assignment in respect of the Revolving Credit Facility, or $1,000,000, in the case of any assignment in respect of the Term A Facility, unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing,
the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided, however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group
to a single Eligible Assignee (or to an Eligible Assignee and members of its Assignee Group) will be treated as a single assignment for purposes of determining whether such minimum amount has been met; 
 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a proportionate part of all the
assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned, except that this clause (ii) shall not (A) apply to the Swing Line Lender’s rights and obligations in respect of
Swing Line Loans or (B) prohibit any Lender from assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis; 
 (iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection
(b)(i)(B) of this Section and, in addition: 
 (A) the consent of the Borrower (such consent not to be
unreasonably withheld or delayed) shall be required unless (1) an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund;

 (B) the consent of the Administrative Agent (such consent not to be unreasonably withheld or delayed) shall be
required for assignments in respect of (i) any Revolving Credit Commitment if such assignment is to a Person that is not a Lender with a Revolving Credit Commitment, an Affiliate of such Lender or an Approved Fund with respect to such Lender or
(ii) any Term A Loan to a Person that is not a Lender, an Affiliate of a Lender or an Approved Fund; 
  

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 (C) the consent of the L/C Issuer (such consent not to be unreasonably
withheld or delayed) shall be required for any assignment that increases the obligation of the assignee to participate in exposure under one or more Letters of Credit (whether or not then outstanding); and 
 (D) the consent of the Swing Line Lender (such consent not to be unreasonably withheld or delayed) shall be required for any
assignment in respect of the Revolving Credit Facility. 
 (iv) Assignment and Assumption. The parties to
each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount, if any, required as set forth in Schedule 10.06; provided,
however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an
Administrative Questionnaire. 
 (v) No Assignment to Borrower. No such assignment shall be made to the
Borrower or any of the Borrower’s Affiliates or Subsidiaries. 
 (vi) No Assignment to Natural
Persons. No such assignment shall be made to a natural person. 
 Subject to acceptance and recording thereof by the
Administrative Agent pursuant to subsection (c) of this Section, from and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest
assigned by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Sections 3.01, 3.04, 3.05 and 10.04 with respect to facts and circumstances occurring prior to the effective date of such assignment). Upon request, the Borrower (at its expense) shall
execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this subsection shall be treated for purposes of this Agreement as a sale by such
Lender of a participation in such rights and obligations in accordance with Section 10.06(d). 
 (c)
Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the
recordation of the names and addresses of the Lenders, and the Commitments of, and principal amounts of the Loans and L/C Obligations owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries
in the Register shall be conclusive, and the Borrower, the Administrative Agent and the Lenders may treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement,
notwithstanding notice to the contrary. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
  

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 (d) Participations. Any Lender may at any time, without the consent of, or notice to,
the Borrower or the Administrative Agent, sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion of such
Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans (including such Lender’s participations in L/C Obligations and/or Swing Line Loans) owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and (iii) the Borrower, the
Administrative Agent, the Lenders and the L/C Issuer shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a
Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or
instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to Section 10.01 that directly affects such Participant.
Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and 3.05 to the same extent as if it were a Lender and had acquired its
interest by assignment pursuant to Section 10.06(b). To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.08 as though it were a Lender, provided such Participant agrees
to be subject to Section 2.13 as though it were a Lender. 
 (e) Limitations upon Participant Rights. A
Participant shall not be entitled to receive any greater payment under Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale
of the participation to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower
is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 10.14 as though it were a Lender. 
 (f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from
any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 
 (g)
Electronic Execution of Assignments. The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

 

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 (h) Resignation as L/C Issuer or Swing Line Lender after Assignment. Notwithstanding
anything to the contrary contained herein, if at any time Bank of America assigns all of its Revolving Credit Commitments and Revolving Credit Loans pursuant to Section 10.06(b), Bank of America may, (i) upon 45 days’ notice to
the Borrower and the Lenders, resign as L/C Issuer and/or (ii) upon 45 days’ notice to the Borrower, resign as Swing Line Lender. In the event of any such resignation as L/C Issuer or Swing Line Lender, the Borrower shall be entitled to
appoint from among the Lenders (subject to acceptance by such designated Lender) a successor L/C Issuer or Swing Line Lender hereunder; provided, however, that no failure by the Borrower to appoint any such successor shall affect the
resignation of Bank of America as L/C Issuer or Swing Line Lender, as the case may be. If Bank of America resigns as L/C Issuer, it shall retain all the rights, powers, privileges and duties of the L/C Issuer hereunder with respect to all Letters of
Credit outstanding as of the effective date of its resignation as L/C Issuer and all L/C Obligations with respect thereto (including the right to require the Lenders to make Base Rate Loans or fund risk participations in Unreimbursed Amounts
pursuant to Section 2.03(c)). If Bank of America resigns as Swing Line Lender, it shall retain all the rights of the Swing Line Lender provided for hereunder with respect to Swing Line Loans made by it and outstanding as of the effective
date of such resignation, including the right to require the Lenders to make Base Rate Loans or fund risk participations in outstanding Swing Line Loans pursuant to Section 2.04(c). Upon the appointment of a successor L/C Issuer and/or
Swing Line Lender, (a) such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring L/C Issuer or Swing Line Lender, as the case may be, and (b) the successor L/C Issuer shall
issue letters of credit in substitution for the Letters of Credit, if any, outstanding at the time of such succession or make other arrangements satisfactory to Bank of America to effectively assume the obligations of Bank of America with respect to
such Letters of Credit. 
 10.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent, the
Lenders and the L/C Issuer agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors,
officers, employees, agents, advisors and representatives (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential),
(b) to the extent requested by any regulatory authority purporting to have jurisdiction over it (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) to the extent required by
applicable laws or regulations or by any subpoena or similar legal process, (d) to any other party hereto, (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating
to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in,
or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or prospective counterparty (or its advisors) to any swap or derivative transaction relating to the Borrower and its
obligations, (g) with the consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this

  

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Section or (ii) becomes available to the Administrative Agent, any Lender, the L/C Issuer or any of their respective Affiliates on a nonconfidential basis from a source other than the
Borrower. Each of the Administrative Agent and the Lenders further agrees to use the Information solely in connection with the extension of its Commitments under this Agreement and the exercise of its rights and discharge of its obligations
hereunder and under the other Loan Documents. 
 For purposes of this Section, “Information” means all
information received from any Loan Party or any Subsidiary thereof relating to any Loan Party or any Subsidiary thereof or their respective businesses, other than any such information that is available to the Administrative Agent, any Lender or the
L/C Issuer on a nonconfidential basis prior to disclosure by any Loan Party or any Subsidiary thereof, provided that, in the case of information received from a Loan Party or any such Subsidiary after the date hereof, such information is
clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised
the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. The confidentiality provisions set forth in this Section shall terminate two years following the date on
which all Obligations hereunder have been paid in full and all Commitments hereunder have been terminated. 
 Each of the
Administrative Agent, the Lenders and the L/C Issuer acknowledges that (a) the Information may include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures
regarding the use of material non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and state securities Laws. 
 10.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender, the L/C Issuer and each of their
respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final, in whatever
currency) at any time held and other obligations (in whatever currency) at any time owing by such Lender, the L/C Issuer or any such Affiliate to or for the credit or the account of the Borrower or any other Loan Party against any and all of the
obligations of the Borrower or such Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender or the L/C Issuer, irrespective of whether or not such Lender or the L/C Issuer shall have made any demand under
this Agreement or any other Loan Document and although such obligations of the Borrower or such Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender or the L/C Issuer different from the branch or office holding
such deposit or obligated on such indebtedness. The rights of each Lender, the L/C Issuer and their respective Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender, the L/C
Issuer or their respective Affiliates may have. Each Lender and the L/C Issuer agrees to notify the Borrower and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not
affect the validity of such setoff and application. 
 10.09 Interest Rate Limitation. Notwithstanding anything to the
contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not

  

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exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall receive interest in an amount
that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by the
Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude
voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 10.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties hereto in
different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall
have been executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a
signature page of this Agreement by facsimile shall be effective as delivery of a manually executed counterpart of this Agreement. 
 10.11 Survival of Representations and Warranties. All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in connection herewith or therewith shall
survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Administrative Agent and each Lender, regardless of any investigation made by the Administrative Agent or any Lender
or on their behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force and effect as long as any Loan or any other
Obligation hereunder shall remain unpaid or unsatisfied or any Letter of Credit shall remain outstanding. 
 10.12
Severability. If any provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan
Documents shall not be affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as
possible to that of the illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 
 10.13 Replacement of Lenders. If (i) any Lender requests compensation under Section 3.04, (ii) Borrower is
required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, (iii) a Lender (a Non-Consenting Lender”) does not consent to a proposed change,
waiver, discharge or termination

  

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with respect to any Loan Document that has been approved by the Required Lenders as provided in Section 10.01 but requires unanimous consent of all Lenders or all Lenders affected
thereby (as applicable), (iv) any Lender is a Defaulting Lender or (v) any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by, Section 10.06), all of its
interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee shall be reasonably acceptable to Borrower and may be another Lender, if such other Lender
accepts such assignment), provided that: 
 (a) the Borrower shall have paid to the Administrative Agent
the assignment fee specified in Section 10.06(b); 
 (b) such Lender shall have received payment of
an amount equal to the outstanding principal of its Loans and L/C Advances, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under
Section 3.05) from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); 
 (c) in the case of any such assignment resulting from a claim for compensation under Section 3.04 or payments
required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and 
 (d) such assignment does not conflict with applicable Laws. 
 A Lender shall not
be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 
 10.14 Tax Forms. (a) (i) Each Lender that is not a “United States person” within the meaning of
Section 7701(a)(30) of the Code (a “Foreign Lender”) shall deliver to the Administrative Agent, prior to receipt of any payment subject to withholding under the Code (or upon accepting an assignment of an interest herein), two
duly signed completed copies of either IRS Form W-8BEN or any successor thereto (relating to such Foreign Lender and entitling it to an exemption from, or reduction of, withholding tax on all payments to be made to such Foreign Lender by the
Borrower pursuant to this Agreement) or IRS Form W-8ECI or any successor thereto (relating to all payments to be made to such Foreign Lender by the Borrower pursuant to this Agreement) or such other evidence satisfactory to the Borrower and the
Administrative Agent that such Foreign Lender is entitled to an exemption from, or reduction of, U.S. withholding tax, including any exemption pursuant to Section 881(c) of the Code. Thereafter and from time to time, each such Foreign Lender
shall (A) promptly submit to the Administrative Agent such additional duly completed and signed copies of one of such forms (or such successor forms as shall be adopted from time to time by the relevant United States taxing authorities) as

  

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may then be available under then current United States laws and regulations to avoid, or such evidence as is satisfactory to the Borrower and the Administrative Agent of any available exemption
from or reduction of, United States withholding taxes in respect of all payments to be made to such Foreign Lender by the Borrower pursuant to this Agreement, (B) promptly notify the Administrative Agent of any change in circumstances which
would modify or render invalid any claimed exemption or reduction, and (C) take such steps as shall not be materially disadvantageous to it, in the reasonable judgment of such Lender, and as may be reasonably necessary (including the
re-designation of its Lending Office) to avoid any requirement of applicable Laws that the Borrower make any deduction or withholding for taxes from amounts payable to such Foreign Lender. 
 (ii) Each Foreign Lender, to the extent it does not act or ceases to act for its own account with respect to any portion of
any sums paid or payable to such Lender under any of the Loan Documents (for example, in the case of a typical participation by such Lender), shall deliver to the Administrative Agent on the date when such Foreign Lender ceases to act for its own
account with respect to any portion of any such sums paid or payable, and at such other times as may be necessary in the determination of the Administrative Agent (in the reasonable exercise of its discretion), (A) two duly signed completed
copies of the forms or statements required to be provided by such Lender as set forth above, to establish the portion of any such sums paid or payable with respect to which such Lender acts for its own account that is not subject to U.S. withholding
tax, and (B) two duly signed completed copies of IRS Form W-8IMY (or any successor thereto), together with any information such Lender chooses to transmit with such form, and any other certificate or statement of exemption required under the
Code, to establish that such Lender is not acting for its own account with respect to a portion of any such sums payable to such Lender. 
 (iii) The Borrower shall not be required to pay any additional amount to any Foreign Lender under Section 3.01 (A) with respect to any Taxes required to be deducted or withheld on the
basis of the information, certificates or statements of exemption such Lender transmits with or as part of an IRS Form W-8IMY pursuant to this Section 10.14(a) or (B) if such Lender shall have failed to satisfy the foregoing
provisions of this Section 10.14(a); provided that if such Lender shall have satisfied the requirement of this Section 10.14(a) on the date such Lender became a Lender or ceased to act for its own account with respect
to any payment under any of the Loan Documents, nothing in this Section 10.14(a) shall relieve the Borrower of its obligation to pay any amounts pursuant to Section 3.01 in the event that, as a result of any change in any
applicable law, treaty or governmental rule, regulation or order, or any change in the interpretation, administration or application thereof, such Lender is no longer properly entitled to deliver forms, certificates or other evidence at a subsequent
date establishing the fact that such Lender or other Person for the account of which such Lender receives any sums payable under any of the Loan Documents is not subject to withholding or is subject to withholding at a reduced rate. 
 (iv) The Administrative Agent may, without reduction, withhold any Taxes required to be deducted and withheld from any
payment under any of the Loan Documents with respect to which the Borrower is not required to pay additional amounts under this Section 10.14(a). 
  

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 (b) Each Lender that is a “United States person” within the meaning of
Section 7701(a)(30) of the Code shall deliver to the Administrative Agent two duly signed completed copies of IRS Form W-9. If such Lender fails to deliver such forms, then the Administrative Agent may withhold from any interest payment to such
Lender an amount equivalent to the applicable backup withholding tax imposed by the Code, without reduction. 
 (c) If any
Governmental Authority asserts that the Administrative Agent did not properly withhold or backup withhold, as the case may be, any tax or other amount from payments made to or for the account of any Lender, such Lender shall indemnify the
Administrative Agent therefor, including all penalties and interest, any taxes imposed by any jurisdiction on the amounts payable to the Administrative Agent under this Section, and costs and expenses (including reasonable fees and expenses of
counsel to the Administrative Agent) of the Administrative Agent. The obligation of the Lenders under this Section shall survive the termination of the Aggregate Commitments, repayment of all other Obligations hereunder and the resignation of the
Administrative Agent. 
 10.15 Governing Law; Jurisdiction; Etc. 
 (a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK.

 (b) SUBMISSION TO JURISDICTION. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO
THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR
PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE
CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT, ANY LENDER OR THE L/C
ISSUER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST THE BORROWER OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c) WAIVER OF VENUE. THE BORROWER IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY

  

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APPLICABLE LAW, ANY OBJECTION THAT IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT IN ANY
COURT REFERRED TO IN PARAGRAPH (B) OF THIS SECTION. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THE DEFENSE OF AN INCONVENIENT FORUM TO THE MAINTENANCE OF SUCH ACTION OR PROCEEDING IN
ANY SUCH COURT. 
 (d) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER
PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 
 10.16 Waiver of Jury Trial. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT
IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER
THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 
 10.17 No Advisory or Fiduciary Responsibility. In connection with all aspects of each transaction contemplated hereby, the Borrower
acknowledges and agrees that (except as expressly set forth in an engagement letter between the Borrower and J.P. Morgan Securities Inc. or Banc of America Securities LLC or the Administrative Agent): (i) the credit facilities provided for
hereunder and any related arranging or other services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction between the
Borrower and its Affiliates, on the one hand, and the Administrative Agent and the Arrangers, on the other hand, and the Borrower is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of the
transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof); (ii) in connection with the process leading to such transaction, the Administrative Agent and each
Arranger is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for the Borrower, or any of its Affiliates, stockholders, creditors or employees or any other Person; (iii) neither the Administrative
Agent nor any Arranger has assumed or will assume an advisory, agency or fiduciary responsibility in favor of the Borrower with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any
amendment, waiver or other modification hereof or of any other Loan Document (irrespective of

  

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whether the Administrative Agent or any other Arranger has advised or is currently advising the Borrower or any of its Affiliates on other matters) and neither the Administrative Agent nor any
Arranger has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; (iv) the Administrative Agent and the
Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of the Borrower and its Affiliates, and neither the Administrative Agent nor any Arranger has any obligation to
disclose any of such interests by virtue of any advisory, agency or fiduciary relationship; and (v) the Administrative Agent and the Arrangers have not provided and will not provide any legal, accounting, regulatory or tax advice with respect
to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other Loan Document) and the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has
deemed appropriate. The Borrower hereby waives and releases, to the fullest extent permitted by law, any claims that it may have against the Administrative Agent and the Arrangers with respect to any breach or alleged breach of agency or fiduciary
duty. 
 10.18 USA PATRIOT Act Notice. Each Lender that is subject to the Act (as hereinafter defined) and the
Administrative Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001)) (the
“Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or the
Administrative Agent, as applicable, to identify each Loan Party in accordance with the Act. 
 10.19 Additional Consents for
Amendments, Etc. In addition to any consents of Lenders required pursuant to Section 10.01, no amendment, waiver or consent thereunder may, without the written consent of the Required Class A Lenders: 
 (a) amend, or waive any condition set forth in, Section 2.01(c) or Section 6.11(ii) or (iii); or 

(b) amend, or waive any condition set forth in, Section 2.05(b), Section 2.06(a), or Section 2.06(b).

  

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 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the date
first above written. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 1 

			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	BANK OF AMERICA, N.A., as a Lender, L/C Issuer and Swing Line Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

			
	JPMORGAN CHASE BANK, as Syndication Agent and Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	  
 [Other Lender signature pages to be
added]

 SCHEDULE 2.01 
 COMMITMENTS 
 AND APPLICABLE PERCENTAGES 
 On file with the Administrative Agent 
  

 1 

 SCHEDULE 10.02 
 ADMINISTRATIVE AGENT’S OFFICE, 
 CERTAIN ADDRESSES FOR NOTICES 
 BORROWER: 
 The McClatchy Company 
 2100 Q Street 
 Sacramento, CA 95816 
 Attention: Elaine Lintecum

 Telephone: 916-321-1846 
 Facsimile:
916-321-1964 
 Electronic Mail: elintecum@McClatchy.com 
 Website Address:          www.McClatchy.com 
 ADMINISTRATIVE AGENT’S OFFICE 
 Notices (other than Requests for Extensions of Credit): 
 BANK OF AMERICA, N.A. 
 800 Fifth Avenue,
Floor 17 
 Seattle, WA 98104 
 Mail
Code: WA1-501-17-32 
 Att: Ken Puro 
 Tel: 206-358-0138 
 Facsimile: 415-343-0559 
 Electronic Mail: Ken.Puro@Bankofamerica.com 
 For Payments and Requests for Extensions of
Credit: 
 BANK OF AMERICA, N.A. 
 2001 Clayton Road, 2nd Floor 
 Concord, CA 94520 
 Mail Code: CA4-702-02-25 
 Att: Lorrie McLain 
 Tel: 925-675-8365 
 Facsimile: 888-969-2432 
 Electronic Mail: lorrie.a.mclain@bankofamerica.com 
 Payments: 
 BANK OF AMERICA 
 New York, NY 
 ABA No. 026009593 
 Account No: 3750836479 
 Account Name: Corporate FTA 
 Reference: The McClatchy Company. 
  

 1 

 Letters of Credit: 
 BANK OF AMERICA, N.A. 
 Trade Operations – Los Angeles #226521 
 1000 West Temple Street, Suite Level 7 
 Mail Code:
CA9-705-07-05 
 Los Angeles, CA 90017-1466 
 Attn: Bolivar Carrillo 
 Facsimile: 213-457-8841 
 Tel: 213-481-7842 
  

 2 

 SCHEDULE 10.06 
 ASSIGNMENT AND ASSUMPTION FEES 
 On file with the Administrative Agent 
  

 1 

 EXHIBIT A 
 FORM OF COMMITTED LOAN NOTICE 
 Date:
                ,          
  

	To:	Bank of America, N.A., as Administrative Agent 

 Ladies and Gentlemen: 
 Reference is made to that certain Amended and Restated Credit Agreement, dated as of
February 11, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among The McClatchy Company,
a Delaware corporation (the “Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The undersigned hereby requests (select one): 
  

			
	 ̈ A Borrowing of Committed Loans	 	 ̈ A conversion or continuation of Loans

  

	 	1.	On                      (a Business Day). 

 

	 	2.	In the amount of $        . 

  

	 	3.	Comprised of                 . 

 [Type of Committed Loan requested] 
  

	 	4.	For Eurodollar Rate Loans: with an Interest Period of          months. 

 The Committed Borrowing requested herein complies with the proviso to the first sentence of Section 2.01 of the Agreement.

  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	  

			
	Title:	 	  

  

 Form of Committed Loan Notice 
 A-1 

 EXHIBIT B 
 FORM OF SWING LINE LOAN NOTICE 
 Date:
                ,          
  

	To:	Bank of America, N.A., as Swing Line Lender 

	  	Bank of America, N.A., as Administrative Agent 

 Ladies and Gentlemen: 
 Reference is made to that certain Amended and Restated Credit Agreement, dated as of
February 11, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among The McClatchy Company,
a Delaware corporation (the “Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The undersigned hereby requests a Swing Line Loan: 
  

	 	1.	On                  (a Business Day). 

  

	 	2.	In the amount of $                    . 

  

	 	3.	Comprised of IBOR Rate Loans. 

 The Swing Line Borrowing requested herein complies with the requirements of the provisos to the first sentence of Section 2.04(a) of the Agreement. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	  

			
	Title:	 	  

  

 Form of Swing Line Loan Notice 
 B-1 

 EXHIBIT C-1 
 FORM OF CLASS A TERM A NOTE 
 [—], 2010 
 FOR VALUE RECEIVED, the undersigned (the “Borrower”)
hereby promises to pay to                              or registered assigns (the “Lender”),
in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of the Class A Term A Loan made by the Lender to the Borrower under that certain Amended and Restated Credit Agreement, dated as of
February 11, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among the Borrower, the
Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower promises to pay interest on the unpaid principal amount of the Class A Term A Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the
Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due
hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Class A Term A Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in
whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Class A Term A Note shall
become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The
Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Class A Term A Loan and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Class A Term A Note.

  

 Form of Class A Term A Note 
 C-1-1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	Patrick J. Talamantes
	Title:	 	Chief Financial Officer

  

 Form of Class A Term A Note 
 C-1-2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	 Date
	 	 Type of Loan
 Made
	 	 Amount of
 Loan Made
	 	 End of
 Interest
 Period
	 	 Amount of
 Principal or
 Interest Paid
 This Date
	 	 Outstanding
 Principal
 Balance This
 Date
	 	 Notation
 Made By

							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	

  

 Form of Class A Term A Note 
 C-1-3 

 EXHIBIT C-2 
 FORM OF CLASS B TERM A NOTE 
 [—], 2010 
 FOR VALUE RECEIVED, the undersigned (the “Borrower”)
hereby promises to pay to                              or registered assigns (the “Lender”),
in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of the Class B Term A Loan made by the Lender to the Borrower under that certain Amended and Restated Credit Agreement, dated as of February 11,
2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among the Borrower, the Lenders from time to
time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower
promises to pay interest on the unpaid principal amount of the Class B Term A Loan from the date of such Loan until such principal amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of
principal and interest shall be made to the Administrative Agent for the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid
amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Class B Term A Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole
or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Class B Term A Note shall become, or
may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also
attach schedules to this Note and endorse thereon the date, amount and maturity of its Class B Term A Loan and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Class B Term A Note.

  

 Form of Class B Term A Note 
 C-2-1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	Patrick J. Talamantes
	Title:	 	Chief Financial Officer

  

 Form of Class B Term A Note 
 C-2-2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	 Date
	 	 Type of Loan
 Made
	 	 Amount of
 Loan Made
	 	 End of
 Interest
 Period
	 	 Amount of
 Principal or
 Interest Paid
 This Date
	 	 Outstanding
 Principal
 Balance This
 Date
	 	 Notation
 Made By

							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	

  

 Form of Class B Term A Note 
 C-2-3 

 EXHIBIT C-3 
 FORM OF CLASS A REVOLVING CREDIT NOTE 
 [—], 2010 
 FOR VALUE RECEIVED, the undersigned (the “Borrower”)
hereby promises to pay to                              or registered assigns (the “Lender”),
in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Class A Revolving Credit Loan from time to time made by the Lender to the Borrower under that certain Amended and Restated Credit
Agreement, dated as of February 11, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among
the Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower promises to pay interest on the unpaid principal amount of each Class A Revolving Credit Loan from the date of such Loan until such principal amount is paid in full, at such interest
rates and at such times as provided in the Agreement. Except as otherwise provided in Section 2.04(f) of the Agreement with respect to Swing Line Loans, all payments of principal and interest shall be made to the Administrative Agent for
the account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Class A Revolving Credit Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions
provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Class A Revolving Credit Note shall become, or may be declared to be,
immediately due and payable all as provided in the Agreement. Class A Revolving Credit Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender
may also attach schedules to this Class A Revolving Credit Note and endorse thereon the date, amount and maturity of its Class A Revolving Credit Loans and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest,
demand, dishonor and non-payment of this Class A Revolving Credit Note. 
  

 Form of Class A Revolving Credit Note 
 C-3-1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	Patrick J. Talamantes
	Title:	 	Chief Financial Officer

  

 Form of Class A Revolving Credit Note 
 C-3-2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	 Date
	 	 Type of Loan
 Made
	 	 Amount of
 Loan Made
	 	 End of
 Interest
 Period
	 	 Amount of
 Principal or
 Interest Paid
 This Date
	 	 Outstanding
 Principal
 Balance This
 Date
	 	 Notation
 Made By

							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 

  

 Form of Class A Revolving Credit Note 
 C-3-3 

 EXHIBIT C-4 
 FORM OF CLASS B REVOLVING CREDIT NOTE 
 [—], 2010 
 FOR VALUE RECEIVED, the undersigned (the “Borrower”)
hereby promises to pay to                              or registered assigns (the “Lender”),
in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Class B Revolving Credit Loan from time to time made by the Lender to the Borrower under that certain Amended and Restated Credit Agreement,
dated as of February 11, 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among the
Borrower, the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The Borrower promises to pay interest on the unpaid principal amount of each Class B Revolving Credit Loan from the date of such Loan until such principal amount is paid in full, at such interest rates
and at such times as provided in the Agreement. Except as otherwise provided in Section 2.04(f) of the Agreement with respect to Swing Line Loans, all payments of principal and interest shall be made to the Administrative Agent for the
account of the Lender in Dollars in immediately available funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date
thereof until the date of actual payment (and before as well as after judgment) computed at the per annum rate set forth in the Agreement. 
 This Class B Revolving Credit Note is one of the Notes referred to in the Agreement, is entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided
therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then remaining unpaid on this Class B Revolving Credit Note shall become, or may be declared to be, immediately due and
payable all as provided in the Agreement. Class B Revolving Credit Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the ordinary course of business. The Lender may also attach schedules
to this Class B Revolving Credit Note and endorse thereon the date, amount and maturity of its Class B Revolving Credit Loans and payments with respect thereto. 
 The Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of protest, demand, dishonor and non-payment of this Class B Revolving Credit
Note. 
  

 Form of Class B Revolving Credit Note 
 C-4-1 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	THE MCCLATCHY COMPANY
		
	By:	 	  

			
	Name:	 	Patrick J. Talamantes
	Title:	 	Chief Financial Officer

  

 Form of Class B Revolving Credit Note 
 C-4-2 

 LOANS AND PAYMENTS WITH RESPECT THERETO 
  

													
	 Date
	 	 Type of Loan
 Made
	 	 Amount of
 Loan Made
	 	 End of
 Interest
 Period
	 	 Amount of
 Principal or
 Interest Paid
 This Date
	 	 Outstanding
 Principal
 Balance This
 Date
	 	 Notation
 Made By

							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	
	 	 	 	 	 	 	 	 	 	 	 	 	 
							
		 		 		 		 		 		 	

  

 Form of Class B Revolving Credit Note 
 C-4-3 

 EXHIBIT D 
 FORM OF COMPLIANCE CERTIFICATE 
 Financial Statement
Date:                 ,          
 To: Bank of America, N.A., as Administrative Agent 
 Ladies and Gentlemen: 
 Reference is made to that certain Amended and Restated Credit Agreement, dated as of February 11, 2010 (as amended, restated, extended,
supplemented or otherwise modified in writing from time to time, the “Agreement”, the terms defined therein being used herein as therein defined), among The McClatchy Company, a Delaware corporation (the
“Borrower”), the Lenders from time to time party thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer and Swing Line Lender. 
 The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the
                                         of the
Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that: 
 [Use following paragraph 1 for fiscal year-end financial statements] 
 1. The Borrower has delivered to the Administrative Agent the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of
the above date, together with the report and opinion of an independent certified public accountant required by such section. 
 [Use following paragraph 1 for fiscal quarter-end financial statements] 
 1. The
Borrower has delivered to the Administrative Agent the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly
present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the absence of footnotes.

 2. The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under
his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by the attached financial statements. 
 3. A review of the activities of the Borrower during such fiscal period has been made under the supervision of the undersigned with a view
to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and 
  

 Form of Compliance Certificate 
 D-1 

 [select one:] 
 [to the best knowledge of the undersigned during such fiscal period, the Borrower performed and observed each covenant and condition
of the Loan Documents applicable to it.] 
 —or— 
 [the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its
nature and status:] 
 4. The representations and warranties of the Borrower contained in Article V of the
Agreement, and any representations and warranties of the Borrower that are contained in any document furnished at any time under or in connection with the Loan Documents, are true and correct on and as of the date hereof, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date, and except that for purposes of this Compliance Certificate, the representations and warranties contained in
subsections (a) and (b) of Section 5.05 of the Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 6.01 of the Agreement,
including the statements in connection with which this Compliance Certificate is delivered. 
 5. The financial covenant
analyses and information set forth on Schedules 1 and 2 attached hereto are true and accurate on and as of the date of this Certificate. 
 IN WITNESS WHEREOF, the undersigned has executed this Certificate as of                     .

  

			
	 THE MCCLATCHY COMPANY

		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

 Form of Compliance Certificate 
 D-2 

 For the Quarter/Year ended
                                (“Statement Date”) 
 SCHEDULE 1 
 to the Compliance Certificate 
 ($ in 000’s) 
  

	I.	Section 7.07(a) – Consolidated Interest Coverage Ratio. 

  

							
	 	  	A.	  	Consolidated EBITDA for four consecutive fiscal quarters ending on above date (“Subject Period”) as set
forth on Schedule 2:	  	$
				
		  	B.	  	Consolidated Interest Charges for Subject Period:	  	$
				
		  	C.	  	Consolidated Interest Coverage Ratio (Line I.A. ( Line I.B):	  	            to 1
				
		  		  	Minimum required:	  	

  

			
	 Fiscal quarter ending:
	  	 Ratio:

		
	December, 2009	  	2.30 to 1.00
		
	March, 2010	  	1.50 to 1.00
		
	June, 2010	  	1.50 to 1.00
		
	September, 2010	  	1.50 to 1.00
		
	December, 2010	  	1.50 to 1.00
		
	March, 2011	  	1.50 to 1.00
		
	June, 2011	  	1.50 to 1.00
		
	September, 2011	  	1.50 to 1.00
		
	December, 2011	  	1.60 to 1.00
		
	March, 2012	  	1.60 to 1.00
		
	June, 2012	  	1.60 to 1.00
		
	September, 2012	  	1.60 to 1.00
		
	December, 2012	  	1.70 to 1.00
		
	March, 2013 and thereafter	  	1.70 to 1.00

  

 Form of Compliance Certificate 
 D-3 

	II.	Section 7.07(b) – Consolidated Leverage Ratio. 

  

							
	 	 	 A.
	  	Consolidated Indebtedness at Statement Date:	  	$
				
		 	 B.
	  	Consolidated EBITDA for Subject Period (Line I.A. above):	  	$
				
		 	 C.
	  	Consolidated Leverage Ratio (Line II.A ( Line II.B):	  	            to 1
				
		 		  	Maximum permitted:	  	

  

			
	 Fiscal quarter ending:
	  	 Ratio:

		
	December, 2009	  	7.00 to 1.00
		
	March, 2010	  	6.75 to 1.00
		
	June, 2010	  	6.75 to 1.00
		
	September, 2010	  	6.75 to 1.00
		
	December, 2010	  	6.75 to 1.00
		
	March, 2011	  	6.50 to 1.00
		
	June, 2011	  	6.50 to 1.00
		
	September, 2011	  	6.50 to 1.00
		
	December, 2011	  	6.50 to 1.00
		
	March, 2012	  	6.25 to 1.00
		
	June, 2012	  	6.25 to 1.00
		
	September, 2012	  	6.25 to 1.00
		
	December, 2012	  	6.25 to 1.00
		
	March, 2013 and thereafter	  	6.00 to 1.00

  

 Form of Compliance Certificate 
 D-4 

 For the Quarter/Year ended
                                (“Statement Date”) 
 SCHEDULE 2 
 to the Compliance Certificate 
 ($ in 000’s) 
 Consolidated EBITDA 
 (in accordance with the definition
of Consolidated EBITDA 
 as set forth in the Agreement) 
  

											
	 	  	 Quarter
 Ended
	  	Quarter
Ended	  	Quarter
Ended	  	Quarter
Ended	  	Twelve
Months
Ended
	 Consolidated EBITDA
	  		  		  		  		  	
						
	 Consolidated Net Income
	  		  		  		  		  	
	 + Consolidated Interest Charges
	  		  		  		  		  	
	 + income taxes
	  		  		  		  		  	
	 + depreciation expense
	  		  		  		  		  	
	 + amortization expense
	  		  		  		  		  	
	 + stock option expense
	  		  		  		  		  	
	 + non-cash restructuring charges
	  		  		  		  		  	
	 + cash restructuring charges (up to caps)
	  		  		  		  		  	
	 + non-recurring or non-cash charges or losses
	  		  		  		  		  	
	 + charges and losses on extinguishment of debt
	  		  		  		  		  	
	 + Exchange Transaction expenses
	  		  		  		  		  	
	 - non-recurring or non-cash gains or other items
	  		  		  		  		  	
	 - all gains from extinguishment of debt
	  		  		  		  		  	
	 = Consolidated EBITDA
	  		  		  		  		  	

  

 Form of Compliance Certificate 
 D-5 

 EXHIBIT E 
 ASSIGNMENT AND ASSUMPTION 
 This Assignment and
Assumption (this “Assignment and Assumption”) is dated as of the Effective Date set forth below and is entered into by and between [Insert name of Assignor] (the “Assignor”) and
[Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Amended and Restated Credit Agreement identified below (the “Credit
Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this
Assignment and Assumption as if set forth herein in full. 
 For an agreed consideration, the Assignor hereby irrevocably sells
and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the
Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and
percentage interest identified below of all of such outstanding rights and obligations of the Assignor under the respective facilities identified below (including, without limitation, the Letters of Credit, the Guaranties and the Swing Line Loans
included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or
unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not
limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and
assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as, the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this
Assignment and Assumption, without representation or warranty by the Assignor. 
  

	1.	Assignor:                                     
    

  

	2.	 Assignee:                                     
    [and is an Affiliate/Approved Fund of [identify Lender]1] 

  

	3.	Borrower: The McClatchy Company 

  

	4.	Administrative Agent: Bank of America, N.A., as the administrative agent under the Credit Agreement 

  
  

	1	 Select as applicable. 

  

 Form of Assignment and Assumption 
 E-1 

	5.	Credit Agreement: Amended and Restated Credit Agreement, dated as of February 11, 2010, among The McClatchy Company, the Lenders from time to time party
thereto, and Bank of America, N.A., as Administrative Agent, L/C Issuer, and Swing Line Lender 

  

	6.	 Assigned Interest:2 

  

									
	 Facility Assigned
	  	 Aggregate Amount of
 Commitment/Loans
 for all Lenders*
	  	Amount of
Commitment/Loans
Assigned*
	  	Percentage Assigned of
Commitment/Loans3	  	CUSIP
Number
					
	 Revolving Credit Commitment
	  	$	  	$	  	%	  	
		  	$	  	$	  	%	  	
		  	$	  	$	  	%	  	

  

	[7.	 Trade Date:
                                ]4 

 Effective Date:
                                    , 20    
[TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 
  

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:	 	  

	Title:	 	
	
	 ASSIGNEE

	
	 [NAME OF ASSIGNEE]

		
	By:	 	  

	Title:	 	

  

	*	Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the Trade Date and the Effective Date.

	2	The reference to “Loans” in the table should be used only if the Credit Agreement provides for Term Loans. 

	3	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. 

	4	To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined as of the Trade Date. 

  

 Form of Assignment and Assumption 
 E-2 

 Consented to and Accepted: 
  

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

		
	By:	 	  

	Title:	 	
	
	Consented to:
	
	 BANK OF AMERICA, N.A.,
 as Swing Line Lender and L/C Issuer

		
	By:	 	  

	Title:	 	
	
	THE MCCLATCHY COMPANY
		
	By:	 	  

	Title:	 	

  

 Form of Assignment and Assumption 
 E-3 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 
 THE MCCLATCHY COMPANY 
 STANDARD TERMS AND CONDITIONS FOR 
 ASSIGNMENT AND ASSUMPTION 
  

	 	1.	Representations and Warranties. 

 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse
claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with
respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the
Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the
Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions
contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an Eligible Assignee under the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement),
(iii) from and after the Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has
received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section      thereof, as applicable, and such other documents and information as it has deemed
appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the
Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached hereto is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee; and
(b) agrees that (i) it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents, and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender.

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all payments in respect of the
Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued from and after the Effective
Date. 
  

 Form of Assignment and Assumption 
 E-4 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York. 
  

 Form of Assignment and Assumption 
 E-5 

 EXHIBIT F 
 OPINION MATTERS 
 The matters contained in the
following Sections of the Amended and Restated Credit Agreement should be covered by the legal opinion: 
  

	 	•	Section 5.01(a), (b) and (c) 

  

	 	•	Section 5.02 

  

	 	•	Section 5.03 

  

	 	•	Section 5.04 

  

	 	•	Section 5.06 

  

	 	•	Section 5.14(b) 

  

 Opinion Matters 
 F-1 

 EXHIBIT G 
 FORM OF AMENDED AND RESTATED GUARANTY 
 THIS AMENDED
AND RESTATED GENERAL CONTINUING GUARANTY (“Guaranty”), dated as of September 26, 2008, is executed and delivered by the Subsidiary that is a signatory hereto and any future Subsidiary that is not a Non-Guarantor Subsidiary (as
defined in the Credit Agreement referenced below) that executes and delivers a Joinder hereto (each a “Guarantor” and, collectively, the “Guarantors”), in favor of the commercial lending institutions (the
“Lenders”) from time to time party to the Credit Agreement (as hereinafter defined) and Bank of America, N.A. (“Bank of America”), as Administrative Agent (in such capacity, together with any successor appointed
pursuant to Section 9.06 of the Credit Agreement, the “Administrative Agent”) for the Lenders. 
 WHEREAS,
the Lenders, the Administrative Agent, the Swing Line Lender and the L/C Issuer are parties to a Credit Agreement dated as of June 27, 2006 (said Agreement, as amended by that certain Amendment No. 1 to Credit Agreement dated as of
March 28, 2007, that certain Amendment No. 2 to Credit Agreement dated as of July 19, 2007, that certain Amendment No. 3 to Credit Agreement dated as of March 28, 2008, and that certain Amendment No. 4 to Credit
Agreement dated as of September 26, 2008, as it may hereafter be amended, supplemented, modified or restated from time to time, being the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined) with The McClatchy Company, a Delaware corporation (the “Borrower”); 
 WHEREAS,
certain of the Guarantors have previously executed a general continuing guaranty in favor of the Lenders and Bank of America pursuant to the Credit Agreement, and each of them now wishes to amend and restate such guaranty in its entirety to conform
to the guaranty the new Guarantors are hereby executing; 
 WHEREAS, each of the Guarantors will derive substantial direct and
indirect benefit from the transactions contemplated by the Credit Agreement; 
 NOW, THEREFORE, in consideration of the
foregoing and in order to induce the Lenders to make the credit extensions contemplated under the Credit Agreement, the Guarantors hereby agree, jointly and severally, as follows: 
 1. Definitions and Construction. 
 (a) Definitions. The following terms, as used in this Guaranty, shall have the following meanings: 
 “Bankruptcy Code” shall mean The Bankruptcy Reform Act of 1978 (11 U.S.C. §§101-1330), as amended or supplemented from time to time, and any successor statute, and any and all
rules issued or promulgated in connection therewith. 
 “Beneficiaries” shall mean
Administrative Agent and Lenders. 
  

 Opinion Matters 
 G-1 

 “Guarantied Obligations” shall mean the due and punctual
payment of all Indebtedness owing by Borrower. 
 “Indebtedness” shall mean any and all
obligations, indebtedness, or liabilities of any kind or character owed to Beneficiaries by Borrower and arising directly or indirectly out of or in connection with the Credit Agreement, the Notes, or the other Loan Documents (in each case as
amended, supplemented, modified or restated from time to time) plus all of the obligations of the Borrower or any of its Subsidiaries under any and all Swap Contracts between the Borrower and any Lender or Affiliate of a Lender (or any Person that
was a Lender or Affiliate of a Lender at the time such Swap Contract was executed) that hedge interest rate exposure for Indebtedness plus all of the obligations of the Borrower or any of its Subsidiaries under any and all treasury or cash
management services (including, without limitation, purchase cards) between the Borrower and any Lender or an Affiliate of a Lender (or any Person that was a Lender or Affiliate of a Lender at the time such services agreement was executed),
including all such obligations, indebtedness, or liabilities, whether for principal, interest (including any and all interest which, but for the application of the provisions of the Bankruptcy Code, would have accrued on such amounts), premium,
reimbursement obligations, fees, costs, expenses (including reasonable attorneys’ fees), or indemnity obligations, whether heretofore, now, or hereafter made, incurred, or created, whether voluntarily or involuntarily made, incurred, or
created, whether secured or unsecured (and if secured, regardless of the nature or extent of the security), whether absolute or contingent, liquidated or unliquidated, or determined or indeterminate, whether Borrower is liable individually or
jointly with others, and whether recovery is or hereafter becomes barred by any statute of limitations or otherwise becomes unenforceable for any reason whatsoever, including any act or failure to act by Beneficiaries. 
 (b) Construction. Unless the context of this Guaranty clearly requires otherwise, references to the plural include the singular,
references to the singular include the plural, the part includes the whole, the term “including” is not limiting, and the term “or” has the inclusive meaning represented by the phrase “and/or.” The words
“hereof,” “herein,” “hereby,” “hereunder,” and other similar terms refer to this Guaranty as a whole and not to any particular provision of this Guaranty. Any reference in this Guaranty to any of the following
documents includes any and all alterations, amendments, extensions, modifications, renewals, supplements or restatements thereto or thereof, as applicable: the Loan Documents; the Credit Agreement; this Guaranty; and the Notes. Neither this Guaranty
nor any uncertainty or ambiguity herein shall be construed or resolved against Beneficiaries or any Guarantor, whether under any rule of construction or otherwise. On the contrary, this Guaranty has been reviewed by Guarantors, Beneficiaries, and
their respective counsel, and shall be construed and interpreted according to the ordinary meaning of the words used so as to fairly accomplish the purposes and intentions of Beneficiaries and Guarantors. 
 2. Guarantied Obligations. Each Guarantor, jointly and severally, hereby irrevocably and unconditionally guaranties to Beneficiaries,
as and for its own debt, until final and indefeasible payment thereof has been made, the due and punctual payment of the Guarantied Obligations, in each case when and as the same shall become due and payable,

  

 Form of Guaranty 
 G-2 

 
whether at maturity, by acceleration, or otherwise; it being the intent of each Guarantor that the guaranty set forth herein shall be a guaranty of payment and not a guaranty of collection;
provided, however, that each Guarantor shall be liable under this Guaranty for the maximum amount of such liability that can be incurred without rendering this Guaranty, as it relates to such Guarantor, voidable under applicable law
relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount. 
 Each Guarantor represents and
warrants to Beneficiaries that (i) neither this Guaranty nor any collateral security therefor has been given with an intent to hinder, delay or defraud any creditor of such Guarantor; (ii) such Guarantor is not engaged, or about to engage,
in any business or transaction for which its assets (other than those necessary to satisfy its obligations under this Guaranty or those given as collateral security for such obligations) are unreasonably small in relation to the business or
transaction, nor does such Guarantor intend to incur, or believe or reasonably should believe that it will incur, debts beyond its ability to pay as they become due; and (iii) such Guarantor is not insolvent at the time it gives this Guaranty,
and the giving of this Guaranty and any collateral security provided in connection herewith will not result in such Guarantor’s becoming insolvent. Each Guarantor hereby covenants and agrees that, as long as this Guaranty remains in effect,
such Guarantor (i) shall incur no indebtedness beyond its ability to repay the same in full in accordance with the terms thereof; and (ii) shall not take any action, or suffer to occur any omission, which could give rise to a claim by any
third party to set aside this Guaranty or any collateral given in connection herewith, or in any manner impair Beneficiaries’ rights and privileges hereunder or thereunder. 
 3. Continuing Guaranty. This Guaranty includes Guarantied Obligations arising under successive transactions continuing, compromising,
extending, increasing, modifying, releasing, or renewing the Guarantied Obligations, changing the interest rate, payment terms, or other terms and conditions thereof, or creating new or additional Guarantied Obligations after prior Guarantied
Obligations have been satisfied in whole or in part. To the maximum extent permitted by law, each Guarantor hereby waives any right to revoke this Guaranty as to future Indebtedness. If such a revocation is effective notwithstanding the foregoing
waiver, each Guarantor acknowledges and agrees that (a) no such revocation shall be effective until written notice thereof has been received by Beneficiaries, (b) no such revocation shall apply to any Guarantied Obligations in existence on
such date (including any subsequent continuation, extension, or renewal thereof, or change in the interest rate, payment terms, or other terms and conditions thereof), (c) no such revocation shall apply to any Guarantied Obligations made or
created after such date to the extent made or created pursuant to a legally binding commitment of Beneficiaries in existence on the date of such revocation, (d) no payment by any Guarantor, Borrower, or from any other source, prior to the date
of such revocation, shall reduce the maximum obligation of such Guarantor hereunder, and (e) any payment by Borrower or from any source other than such Guarantor subsequent to the date of such revocation shall first be applied to that portion
of the Guarantied Obligations as to which the revocation is effective and which are not, therefore, guarantied hereunder, and to the extent so applied shall not reduce the maximum obligations of such Guarantor hereunder. 
  

 Form of Guaranty 
 G-3 

 4. Performance under this Guaranty. In the event that Borrower fails to make any
payment of any Guarantied Obligations on or before the due date thereof, each Guarantor immediately shall cause such payment to be made. 
 5. Primary Obligations. This Guaranty is a primary and original obligation of each Guarantor, is not merely the creation of a surety relationship, and is an absolute, unconditional, and continuing
guaranty of payment and performance which shall remain in full force and effect without respect to future changes in conditions, including any change of law or any invalidity or irregularity with respect to the issuance of the Notes. Each Guarantor
agrees that it is directly, jointly and severally with each other Guarantor, liable to Beneficiaries, that the obligations of such Guarantor hereunder are independent of the obligations of Borrower or any other Guarantor, and that a separate action
may be brought against such Guarantor, whether such action is brought against Borrower or another Guarantor or whether Borrower or any such other Guarantor is joined in such action. Guarantor agrees that its liability hereunder shall be immediate
and shall not be contingent upon the exercise or enforcement by Beneficiaries of whatever remedies they may have against Borrower or any other Guarantor, or the enforcement of any lien or realization upon any security Beneficiaries may at any time
possess. Each Guarantor agrees that any release which may be given by Beneficiaries to Borrower or any other Guarantor shall not release such Guarantor. Each Guarantor consents and agrees that Beneficiaries shall be under no obligation to marshal
any property or assets of Borrower or any other Guarantor in favor of such Guarantor, or against or in payment of any or all of the Guarantied Obligations. 
 6. Waivers. 
 (a) Each Guarantor hereby waives: (i) notice of
acceptance hereof; (ii) notice of any loans or other financial accommodations made or extended under the Credit Agreement, or the creation or existence of any Guarantied Obligations; (iii) notice of the amount of the Guarantied
Obligations, subject, however, to such Guarantor’s right to make inquiry of Administrative Agent to ascertain the amount of the Guarantied Obligations at any reasonable time; (iv) notice of any adverse change in the financial condition of
Borrower or of any other fact that might increase such Guarantor’s risk hereunder; (v) notice of presentment for payment, demand, protest, and notice thereof as to the Notes or any other instrument; (vi) notice of any Default or Event
of Default under the Credit Agreement; and (vii) all other notices (except if such notice is specifically required to be given to a Guarantor under this Guaranty or any other Loan Document to which such Guarantor is party) and demands to which
such Guarantor might otherwise be entitled. 
 (b) To the fullest extent permitted by applicable law, each Guarantor waives the
right by statute or otherwise to require Beneficiaries to institute suit against Borrower or to exhaust any rights and remedies which Beneficiaries have or may have against Borrower. In this regard, each Guarantor agrees that it is bound to the
payment of each and all Guarantied Obligations, whether now existing or hereafter accruing, as fully as if such Guarantied Obligations were directly owing to Beneficiaries by such Guarantor. Each Guarantor further waives any defense arising by
reason of any disability or other defense (other than the defense that the Guarantied Obligations shall have been fully and finally performed and indefeasibly paid) of Borrower or by reason of the cessation from any cause whatsoever of the liability
of Borrower in respect thereof. 
  

 Form of Guaranty 
 G-4 

 (c) To the maximum extent permitted by law, each Guarantor hereby waives: (i) any
rights to assert against Beneficiaries any defense (legal or equitable), set-off, counterclaim, or claim which such Guarantor may now or at any time hereafter have against Borrower or any other party liable to Beneficiaries; (ii) any defense,
set-off, counterclaim, or claim, of any kind or nature, arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the Guarantied Obligations or any security therefor; (iii) any
defense arising by reason of any claim or defense based upon an election of remedies by Beneficiaries; (iv) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement thereof, and any act
which shall defer or delay the operation of any statute of limitations applicable to the Guarantied Obligations shall similarly operate to defer or delay the operation of such statute of limitations applicable to such Guarantor’s liability
hereunder; and (v) to the fullest extent permitted by law, any defense or benefit that may be derived from or afforded by law which limits the liability of or exonerates guaranties or sureties or requires Beneficiaries to exhaust remedies
against the Borrower prior to commencing any action or foreclosure against such Guarantor or its properties including, without limitation, the benefits of California Civil Code §§ 2799, 2808, 2809, 2810, 2815, 2819, 2820, 2821, 2822, 2838,
2839, 2845, 2848, 2849, and 2850, California Code of Civil Procedure §§ 580A, 580B, 580C, 580D, and 726, and Chapter 2 of Title 14 of the California Civil Code. Notwithstanding the foregoing, this Section 6(c) shall not be deemed to
waive any portion of any right of subrogation, reimbursement, contribution or indemnification or similar right that would not be waived pursuant to the provisions of Section 6(e). 
 (d) Each Guarantor agrees that if all or a portion of the Indebtedness or this Guaranty is at any time secured by a deed of trust or
mortgage covering interests in real property, Beneficiaries, in their sole discretion, without notice or demand and without affecting the liability of such Guarantor under this Guaranty, may foreclose pursuant to the terms of the Credit Agreement or
otherwise the deed of trust or mortgage and the interests in real property secured thereby by non-judicial sale. Each Guarantor understands that the exercise by Beneficiaries of certain rights and remedies contained in the Credit Agreement and any
such deed of trust or mortgage may affect or eliminate such Guarantor’s right of subrogation against Borrower and that such Guarantor may therefore incur a partially or totally non-reimbursable liability hereunder. Nevertheless, each Guarantor
hereby authorizes and empowers Beneficiaries to exercise, in their sole discretion, any rights and remedies, or any combination thereof, which may then be available, since it is the intent and purpose of such Guarantor that the obligations hereunder
shall be absolute, independent and unconditional under any and all circumstances. Notwithstanding any foreclosure of the lien of any deed of trust or security agreement with respect to any or all of any real or personal property secured thereby,
whether by the exercise of the power of sale contained therein, by an action for judicial foreclosure or by an acceptance of a deed in lieu of foreclosure, each Guarantor shall remain bound under this Guaranty including its obligation to pay any
deficiency following a non-judicial foreclosure. 
 (e)(1) Notwithstanding anything to the contrary elsewhere contained herein
or in any other Loan Document, until full and final payment of the Guaranteed Obligations, each Guarantor hereby waives with respect to Borrower and its respective successors and assigns (including any surety) and any other party any and all rights
at law or in equity, to subrogation, to reimbursement, to exoneration, to contribution, to setoff or to any other rights that could

  

 Form of Guaranty 
 G-5 

 
accrue to a surety against a principal, to a guarantor against a maker or obligor, to an accommodation party against the party accommodated, or to a holder or transferee against a maker and which
such Guarantor may have or hereafter acquire against Borrower or any other party in connection with or as a result of Borrower’s execution, delivery and/or performance of the Credit Agreement or any other Loan Document. Each Guarantor agrees
that it shall not have or assert any such rights against Borrower or Borrower’s successors and assigns or any other Person (including any surety), either directly or as an attempted setoff to any action commenced against such Guarantor
by Borrower (as borrower or in any other capacity) or any other Person until the Guaranteed Obligations have been fully and finally repaid to the Beneficiaries. Each Guarantor hereby acknowledges and agrees that this waiver is intended to benefit
the Beneficiaries and shall not limit or otherwise affect any of the Borrower’s liability hereunder, under any other Loan Document to which Borrower is a party, or the enforceability hereof or thereof. 
 (2) To the extent any waiver of subrogation contained in subparagraph (e)(1) is unenforceable, each Guarantor shall, until
the Guaranteed Obligations shall have been paid in full and the Commitments shall have terminated and all Letters of Credit shall have expired or been terminated or canceled, withhold exercise of (a) any claim, right or remedy, direct or
indirect, that such Guarantor now has or may hereafter have against Borrower or any of its assets in connection with this Guaranty or the performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy
arises in equity, under contract, by statute, under common law or otherwise and including without limitation (i) any right of subrogation, reimbursement or indemnification that such Guarantor now has or may hereafter have against Borrower,
(ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or may hereafter have against Borrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or
hereafter held by the Beneficiaries, and (b) any right of contribution such Guarantor may have against any other Guarantor (including without limitation any such right of contribution). Each Guarantor further agrees that, to the extent the
agreement to withhold the exercise of its rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation,
reimbursement or indemnification such Guarantor may have against Borrower or against any collateral or security, and any rights of contribution Guarantor may have against any such other Guarantor, shall be junior and subordinate to any rights the
Administrative Agent or Lenders may have against Borrower, to all right, title and interest the Beneficiaries may have in any such collateral or security, and to any right the Beneficiaries may have against such other Guarantor. The Administrative
Agent, on behalf of Lenders, may use, sell or dispose of any item of collateral or security as it sees fit without regard to any subrogation rights any Guarantor may have, and upon any such disposition or sale any rights of subrogation Guarantors
may have shall terminate. If any amount shall be paid to any Guarantor on account of any such subrogation, reimbursement or indemnification rights at any time when all Guaranteed Obligations shall not have been paid in full, such amount shall be
held in trust for the Administrative Agent on behalf of Lenders and shall forthwith be paid over to the Administrative Agent for the benefit of Lenders to be credited and applied against the Guaranteed Obligations, whether matured or unmatured, in
accordance with Section 12 of this Guaranty. 
  

 Form of Guaranty 
 G-6 

 7. Releases. Each Guarantor consents and agrees that, without notice to or by such
Guarantor and without affecting or impairing the obligations of such Guarantor hereunder, Beneficiaries may, by action or inaction, compromise or settle, extend the period of duration or the time for the payment, or discharge the performance of, or
may refuse to, or otherwise not enforce, or may, by action or inaction, release all or any one or more parties to, any one or more of the Credit Agreement, the Notes, or any of the other Loan Documents or may grant other indulgences to Borrower in
respect thereof, or may amend or modify in any manner and at any time (or from time to time) any one or more of the Credit Agreement, the Notes, or any of the other Loan Documents, or may, by action or inaction, release or substitute any other
Guarantor, if any, of the Guarantied Obligations, or may enforce, exchange, release, or waive, by action or inaction, any security for the Guarantied Obligations (including any collateral) or any other guaranty of the Guarantied Obligations, or any
portion thereof. 
 8. No Election. Beneficiaries shall have the right to seek recourse against any Guarantor to the
fullest extent provided for herein and no election by Beneficiaries to proceed in one form of action or proceeding, or against any Guarantor or other party, or on any obligation, shall constitute a waiver of Beneficiaries’ right to proceed in
any other form of action or proceeding or against any other Guarantor or other parties unless Beneficiaries have expressly waived such right in writing. Specifically, but without limiting the generality of the foregoing, no action or proceeding by
Beneficiaries under any document or instrument evidencing the Guarantied Obligations shall serve to diminish the liability of Guarantors under this Guaranty except to the extent that Beneficiaries finally and unconditionally shall have realized
indefeasible payment by such action or proceeding. 
 9. Indefeasible Payment. The Guarantied Obligations shall not be
considered indefeasibly paid for purposes of this Guaranty unless and until all payments to Beneficiaries are no longer subject to any right on the part of any person whomsoever, including Borrower, Borrower as a debtor in possession, or any trustee
(whether appointed under the Bankruptcy Code or otherwise) of Borrower’s assets to invalidate or set aside such payments or to seek to recoup the amount of such payments or any portion thereof, or to declare same to be fraudulent or
preferential. In the event that, for any reason, all or any portion of such payments to Beneficiaries is set aside or restored, whether voluntarily or involuntarily, after the making thereof, the obligation or part thereof intended to be satisfied
thereby shall be revived and continued in full force and effect as if said payment or payments had not been made and each Guarantor shall be liable for the full amount Beneficiaries are required to repay plus any and all costs and expenses
(including attorneys’ fees) paid by Beneficiaries in connection therewith. 
 10. Financial Condition of Borrower.
Each Guarantor represents and warrants to Beneficiaries that it is currently informed of the financial condition of Borrower and of all other circumstances which a diligent inquiry would reveal and which bear upon the risk of nonpayment of the
Guarantied Obligations. Each Guarantor further represents and warrants to Beneficiaries that it has read and understands the terms and conditions of the Credit Agreement, the Notes, and the other Loan Documents. Each Guarantor hereby covenants that
it will continue to keep itself informed of Borrower’s financial condition, the financial condition of other guarantors, if any, and of all other circumstances which bear upon the risk of nonpayment or nonperformance of the Guarantied
Obligations. 
  

 Form of Guaranty 
 G-7 

 11. Subordination. Each Guarantor hereby agrees that after the occurrence and during
the continuance of an Event of Default any and all present and future indebtedness of Borrower owing to such Guarantor shall be postponed in favor of and subordinated to payment in full of the Guarantied Obligations. Each Guarantor agrees that
amounts paid over to Beneficiaries pursuant to the subordination provisions of this Section 11 shall be separate and apart from, and shall not be credited to, the liability of such Guarantor pursuant to Section 2. 
 12. Payments; Application. All payment to be made hereunder by any Guarantor shall be made in lawful money of the United States of
America at the time of payment, shall be made in immediately available funds, and shall be made without setoff, deduction (whether for Taxes or otherwise) or counterclaim. All payments made by any Guarantor hereunder shall be applied as follows:
first, to all reasonable costs and expenses (including attorneys’ fees) incurred by Beneficiaries in enforcing this Guaranty or in collecting the Guarantied Obligations; second, to all accrued and unpaid interest, premium, if any, and fees
owing to Beneficiaries constituting Guarantied Obligations; and third, to the balance of the Guarantied Obligations. 
 13.
Attorneys’ Fees and Costs. Each Guarantor agrees to pay, on demand, all reasonable attorneys’ fees and all other reasonable costs and expenses which may be incurred by Beneficiaries in the enforcement of this Guaranty or in any way
arising out of, or consequential to the protection, assertion, or enforcement of the Guarantied Obligations (or any security therefor), irrespective of whether suit is brought. 
 14. Notices. All notices and other communications provided to any party hereto under this Guaranty shall be in writing or by
facsimile and addressed, delivered or transmitted to such party at its address or facsimile number set forth below or at such other address or facsimile number as may be designated by such party in a notice to the other parties. Any notice, if
mailed and properly addressed with postage prepaid, shall be deemed given when received; any notice, if transmitted by facsimile, shall be deemed given when transmitted. 
  

			
	If to any Guarantor:	  	 c/o The McClatchy Company
 2100 Q Street
 Sacramento, CA 95816
 Attention: Elaine Lintecum
 Facsimile: (916) 321-1964

		
	With a copy to:	  	 Wilson Sonsini Goodrich & Rosati
 650 Page Mill Road
 Palo Alto, California 94304-1050
 Attention: Andrew Hirsch, Esq.
 Facsimile: (650) 493-6811

		
	If to Beneficiaries:	  	 Bank of America, N.A.
 800
Fifth Avenue, Floor 32
 Seattle, WA 98104
 Mail Code: WA1-501-32-37
 Attention: Ken Puro
 Facsimile: (415) 343-0559

  

 Form of Guaranty 
 G-8 

			
	With a copy to:	  	 Mayer Brown LLP
 1675
Broadway
 New York, NY 10019
 Attention: Brian E. Newhouse, Esq.
 Facsimile: (212) 849-5148

 15. Cumulative Remedies. No remedy under this Guaranty, under the Credit Agreement, the Notes, or any Loan Document is intended to be
exclusive of any other remedy, but each and every remedy shall be cumulative and in addition to any and every other remedy given under this Guaranty, under the Credit Agreement, the Notes, or any other Loan Document, and those provided by law. No
delay or omission by Beneficiaries to exercise any right under this Guaranty shall impair any such right nor be construed to be a waiver thereof. No failure on the part of Beneficiaries to exercise, and no delay in exercising, any right under this
Guaranty shall operate as a waiver thereof; nor shall any single or partial exercise of any right under this Guaranty preclude any other or further exercise thereof or the exercise of any other right. 
 16. Severability of Provisions. Any provision of this Guaranty which is prohibited or unenforceable under applicable law, shall be
ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof. 
 17.
Entire Agreement; Amendments. This Guaranty constitutes the entire agreement among each Guarantor and Beneficiaries pertaining to the subject matter contained herein. This Guaranty may not be altered, amended, or modified, nor may any
provision hereof be waived or noncompliance therewith consented to, except by means of a writing executed by each Guarantor and Administrative Agent. Any such alteration, amendment, modification, waiver, or consent shall be effective only to the
extent specified therein and for the specific purpose for which given. No course of dealing and no delay or waiver of any right or default under this Guaranty shall be deemed a waiver of any other, similar or dissimilar, right or default or
otherwise prejudice the rights and remedies hereunder. 
 18. Successors and Assigns. Subject to the terms of the Credit
Agreement, this Guaranty shall be binding each Guarantor and its successors and assigns and shall inure to the benefit of the successors and assigns of Beneficiaries; provided, however, no Guarantor shall assign this Guaranty or
delegate any of its duties hereunder without Beneficiaries’ prior written consent and any unconsented to assignment shall be absolutely void. In the event of any assignment or other transfer of rights by Beneficiaries, the rights and benefits
herein conferred upon Beneficiaries shall automatically extend to and be vested in such assignee or other transferee. 
 19.
Choice of Law and Venue; Service of Process. THE VALIDITY OF THIS GUARANTY, ITS CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT, AND THE RIGHTS OF EACH GUARANTOR AND BENEFICIARIES, SHALL BE DETERMINED UNDER, GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH THE INTERNAL

  

 Form of Guaranty 
 G-9 

 
LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. ALL JUDICIAL PROCEEDINGS BROUGHT AGAINST ANY GUARANTOR WITH RESPECT TO THIS GUARANTY MAY BE BROUGHT IN ANY STATE
OR FEDERAL COURT OF COMPETENT JURISDICTION IN THE STATE OF NEW YORK, AND BY EXECUTION AND DELIVERY OF THIS GUARANTY, GUARANTOR ACCEPTS, FOR ITSELF AND IN CONNECTION WITH ITS ASSETS, GENERALLY AND UNCONDITIONALLY, THE NONEXCLUSIVE JURISDICTION OF THE
AFORESAID COURTS, AND IRREVOCABLY AGREES TO BE BOUND BY ANY FINAL JUDGMENT RENDERED THEREBY IN CONNECTION WITH THIS GUARANTY FROM WHICH NO APPEAL HAS BEEN TAKEN OR IS AVAILABLE. 
 20. Waiver of Jury Trial. TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH GUARANTOR HEREBY EXPRESSLY WAIVES ANY RIGHT TO TRIAL BY JURY
OF ANY ACTION, CAUSE OF ACTION, CLAIM, DEMAND, OR PROCEEDING ARISING UNDER OR WITH RESPECT TO THIS GUARANTY, OR IN ANY WAY CONNECTED WITH, RELATED TO, OR INCIDENTAL TO THE DEALINGS OF GUARANTORS AND BENEFICIARIES WITH RESPECT TO THIS GUARANTY, OR
THE TRANSACTIONS RELATED HERETO, IN EACH CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND IRRESPECTIVE OF WHETHER SOUNDING IN CONTRACT, TORT, OR OTHERWISE. TO THE MAXIMUM EXTENT PERMITTED BY LAW, EACH GUARANTOR HEREBY AGREES THAT ANY SUCH ACTION,
CAUSE OF ACTION, CLAIM, DEMAND, OR PROCEEDINGS SHALL BE DECIDED BY A COURT TRIAL WITHOUT A JURY AND THAT BENEFICIARIES MAY FILE AN ORIGINAL COUNTERPART OF THIS SECTION WITH ANY COURT OR OTHER TRIBUNAL AS WRITTEN EVIDENCE OF THE CONSENT OF SUCH
GUARANTOR TO THE WAIVER OF ITS RIGHT TO TRIAL BY JURY. 
 21. Joint and Several Liability. The liability of the
Guarantors hereunder shall be joint and several. 
  

 Form of Guaranty 
 G-10 

 IN WITNESS WHEREOF, each of the undersigned has executed and delivered this Guaranty as of
the day and year first written above. 
 [            ] 
  

			
	By:	 	  
 
	Its:	 	  

  

 Form of Guaranty 
 G-11 

 JOINDER TO AMENDED AND RESTATED GENERAL CONTINUING GUARANTY 
 This Joinder to Amended and Restated General Continuing Guaranty (this “Joinder”), dated as of
                , 20        , relates to the Amended and Restated General Continuing Guaranty dated as of September 26, 2008
(as amended to date, the “Guaranty”), among the Subsidiaries of The McClatchy Company parties thereto as Guarantors (collectively the “Guarantors”) in favor of the Lenders (as defined in the Credit Agreement (as
hereinafter defined)) and Bank of America, N.A. (“Bank of America”), as Administrative Agent (the “Administrative Agent”). 
 The Lenders, the Administrative Agent, the Swing Line Lender and the L/C Issuer are parties to a Credit Agreement dated as of June 27, 2006 (said Agreement, as amended by that certain Amendment
No. 1 to Credit Agreement dated as of March 28, 2007, that certain Amendment No. 2 to Credit Agreement dated as of July 19, 2007, that certain Amendment No. 3 to Credit Agreement dated as of March 28, 2008, and that
certain Amendment No. 4 to Credit Agreement dated as of September 26, 2008, as it may hereafter be amended, supplemented, modified or restated from time to time, being the “Credit Agreement”; the terms defined therein and
not otherwise defined herein being used herein as therein defined) with The McClatchy Company, a Delaware corporation (the “Borrower”). 
 In compliance with Section 6.12 of the Credit Agreement,                     (the
“Additional Guarantor”) hereby agrees as follows: 
 1. Joinder. The Guaranty is hereby amended to add as a party, and
more specifically, as a Guarantor, thereunder, the Additional Guarantor. 
 2. Representations and Warranties. The Additional Guarantor
represents and warranties to the Administrative Agent and the Lenders that each of the representations and warranties of a Guarantor contained in the Guaranty is hereby made by the Additional Guarantor as of the date hereof and is true and correct
as to the Additional Guarantor as of the date hereof. 
 3. Additional Guarantor as Guarantor. The Additional Guarantor assumes all of
the obligations and liabilities of a Guarantor under the Guaranty, agrees to be bound thereby as if the Additional Guarantor were an original party to the Guaranty and shall be a Guarantor for all purposes under the Loan Documents. 
 4. Effectiveness. This Joinder shall become effective on the date hereof upon the execution hereof by the Additional Guarantor and the Administrative
Agent and delivery hereof to the Administrative Agent. 
  

 Form of Guaranty 
 G-12 

 5. Governing Law. This Joinder shall be governed by, and construed in accordance with, the laws of the State
of New York, without regard to principles of conflicts of law. 
  

			
	[Name of Additional Guarantor]
		
	 By:
	 	  

	 Name:

	 Title:

	 Notice Address:

	 Attention:

  

			
	BANK OF AMERICA, N.A., as Administrative Agent
		
	 By:
	 	  

	 Name:

	 Title:

  

 Form of Guaranty 
 G-13Collaborative Research and License Agreement

 EXHIBIT 10.5 
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
 COLLABORATIVE RESEARCH AND LICENSE AGREEMENT 
  
  
 July 10, 2009 
  
  

 TABLE OF CONTENTS 
  

					
	 ARTICLE 1 DEFINITIONS
	  	2
	 1.1
	  	“Affiliate”	  	2
	 1.2
	  	“Arbitral Tribunal”	  	2
	 1.3
	  	“Arbitration Authority”	  	2
	 1.4
	  	“Arbitration List”	  	2
	 1.5
	  	“Background Technology”	  	2
	 1.6
	  	“Biocatalyst”	  	2
	 1.7
	  	“Biocatalyst Technology”	  	2
	 1.8
	  	“Biofuel Process Technology”	  	3
	 1.9
	  	“Biomass”	  	3
	 1.10
	  	“Blend”	  	4
	 1.11
	  	“Breaching Party”	  	4
	 1.12
	  	“[*]”	  	4
	 1.13
	  	“[*]”	  	4
	 1.14
	  	“[*]”	  	4
	 1.15
	  	“Calendar Year”	  	4
	 1.16
	  	“Claim Notice”	  	4
	 1.17
	  	“Codexis Background Technology”	  	4
	 1.18
	  	“Codexis Biocatalyst”	  	4
	 1.19
	  	“Codexis-[*] Agreement”	  	4
	 1.20
	  	“Codexis Introduced Program Technology”	  	4
	 1.21
	  	“Codexis Jointly Invented Research Technology”	  	4
	 1.22
	  	“Codexis Research Technology”	  	4
	 1.23
	  	“Codexis Screening Technology”	  	4
	 1.24
	  	“Codexis Shuffling Technology”	  	5
	 1.25
	  	“Codexis Solely Invented Research Technology”	  	5
	 1.26
	  	“Commercial Improvements”	  	5
	 1.27
	  	“Confidential Information”	  	5
	 1.28
	  	“Control”	  	5
	 1.29
	  	“Covenanting Party”	  	6
	 1.30
	  	“Default Notice”	  	6
	 1.31
	  	“Disputing Party”	  	6
	 1.32
	  	“[*] Party”	  	6
	 1.33
	  	“Environmental Law”	  	6
	 1.34
	  	“Fuels Field”	  	6
	 1.35
	  	“Hazardous Materials”	  	6
	 1.36
	  	“Information”	  	6
	 1.37
	  	“IE Background Technology”	  	6
	 1.38
	  	“IE Biofuel Process Technology”	  	6
	 1.39
	  	“IE Research Technology”	  	6
	 1.40
	  	“IE Introduced Program Technology”	  	6
	 1.41
	  	“IE Jointly Invented Research Technology”	  	6

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - i - 

					
	 1.42
	  	“IE Solely Invented Research Technology”	  	6
	 1.43
	  	“International Trade Laws”	  	6
	 1.44
	  	“Introduced Program Technology”	  	7
	 1.45
	  	“Jointly Owned Research Technology”	  	7
	 1.46
	  	“Losses”	  	7
	 1.47
	  	“Lubricant”	  	7
	 1.48
	  	“Microbes”	  	7
	 1.49
	  	“Non-Breaching Party”	  	7
	 1.50
	  	“Notice to Arbitrate”	  	7
	 1.51
	  	“Out-Sourcing Party”	  	7
	 1.52
	  	“Oversight Committee”	  	7
	 1.53
	  	“Patent Committee”	  	7
	 1.54
	  	“Patent Rights”	  	7
	 1.55
	  	“Permitted Products”	  	8
	 1.56
	  	“Program”	  	8
	 1.57
	  	“Research Plan”	  	8
	 1.58
	  	“Research Technology”	  	8
	 1.59
	  	“Research Term”	  	8
	 1.60
	  	“Rules”	  	8
	 1.61
	  	“Shell Agreements”	  	8
	 1.62
	  	“Shell Biofuel Technology”	  	8
	 1.63
	  	“Shell Research Technology”	  	8
	 1.64
	  	“Shuffling”	  	8
	 1.65
	  	“Shuffling Technology”	  	8
	 1.66
	  	“Technology”	  	9
	 1.67
	  	“Term”	  	9
	 1.68
	  	“Third Party”	  	9
	 1.69
	  	“Third Party Agreements”	  	9
	 1.70
	  	“[*]”	  	9
	 ARTICLE 2 PROGRAM ACTIVITIES
	  	9
	 2.1
	  	Purpose	  	9
	 2.2
	  	Oversight Committee	  	9
	 2.3
	  	Contributions and Information Sharing	  	12
	 2.4
	  	Reports and Materials	  	14
	 2.5
	  	Laboratory Facility and Personnel	  	15
	 2.6
	  	Efforts	  	15
	 2.7
	  	Acknowledgement and Waiver	  	15
	 ARTICLE 3 OWNERSHIP OF TECHNOLOGY
	  	15
	 3.1
	  	Codexis Background and Codexis Introduced Program Technology	  	15
	 3.2
	  	IE Background and IE Introduced Program Technology	  	16
	 3.3
	  	Codexis Research Technology	  	16
	 3.4
	  	IE Research Technology	  	17
	 3.5
	  	Shell Research Technology	  	17
	 3.6
	  	Jointly Owned Research Technology	  	18
	 3.7
	  	Assignments	  	18

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - ii - 

					
	 3.8
	  	No Implied License	  	18
	 ARTICLE 4 LICENSES; COORDINATION OF AGREEMENTS
	  	18
	 4.1
	  	To Iogen Energy	  	18
	 4.2
	  	To Codexis	  	20
	 4.3
	  	To Shell	  	23
	 4.4
	  	Restrictions Related to [*]	  	23
	 4.5
	  	Grant Back	  	25
	 4.6
	  	Codexis as Permitted Third Party	  	26
	 4.7
	  	Right of First Negotiation – Biocatalyst Manufacturing	  	26
	 4.8
	  	Derivatives of Codexis Program Technology	  	27
	 4.9
	  	No Other Rights	  	29
	 ARTICLE 5 PAYMENTS
	  	29
	 5.1
	  	Royalties – Fuels Field	  	29
	 5.2
	  	Payments Due Under Third Party Agreements	  	30
	 5.3
	  	Mode of Payment	  	30
	 5.4
	  	Reporting and Audit Requirements	  	31
	 ARTICLE 6 PATENT PROSECUTION AND MAINTENANCE
	  	31
	 6.1
	  	Notification	  	31
	 6.2
	  	Filing, Prosecution and Maintenance of Codexis Research Technology	  	31
	 6.3
	  	Filing, Prosecution and Maintenance of IE Research Technology	  	32
	 6.4
	  	Filing, Prosecution and Maintenance of Jointly Owned Research Technology	  	32
	 6.5
	  	Assistance	  	33
	 6.6
	  	Reimbursement of Costs for Filing, Prosecuting and Maintaining Patent Rights	  	34
	 6.7
	  	Enforcement of Licensed Patents	  	34
	 6.8
	  	Cooperation	  	34
	 6.9
	  	Coordination with Shell Agreements	  	34
	 ARTICLE 7 CONFIDENTIALITY
	  	35
	 7.1
	  	Confidentiality Obligations	  	35
	 7.2
	  	Harmonization with Licenses	  	36
	 7.3
	  	Publicity	  	36
	 ARTICLE 8 REPRESENTATIONS AND WARRANTIES
	  	37
	 8.1
	  	Representations by Codexis	  	37
	 8.2
	  	Representations by IE	  	37
	 8.3
	  	Representations by Shell	  	38
	 8.4
	  	Disclaimer of Warranties	  	39
	 ARTICLE 9 INDEMNIFICATION
	  	39
	 9.1
	  	Employees and Property	  	39
	 9.2
	  	Third Parties	  	39
	 9.3
	  	IE-Shell Intellectual Property Indemnifications.	  	41
	 9.4
	  	Environmental	  	43
	 9.5
	  	Notification of Claim; Conditions to Indemnification Obligations	  	44
	 9.6
	  	Other Indemnification Obligations	  	45
	 ARTICLE 10 TERM AND TERMINATION
	  	46

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - iii - 

					
	 10.1
	  	Term	  	46
	 10.2
	  	Termination of Research Term At Will	  	46
	 10.3
	  	Termination due to Challenge of Patent	  	46
	 10.4
	  	Termination Upon Material Breach	  	46
	 10.5
	  	Consequences of Expiration or Termination of this Agreement	  	47
	 10.6
	  	Consequences of Termination of the Codexis-Shell US License Agreement	  	48
	 ARTICLE 11 GENERAL PROVISIONS
	  	50
	 11.1
	  	Relationship of the Parties	  	50
	 11.2
	  	Assignments	  	50
	 11.3
	  	Further Actions	  	51
	 11.4
	  	International Trade Compliance.	  	51
	 11.5
	  	Force Majeure	  	51
	 11.6
	  	Captions	  	52
	 11.7
	  	Rules of Construction	  	52
	 11.8
	  	Governing Law	  	52
	 11.9
	  	Dispute Resolution; Jurisdiction and Venue	  	52
	 11.10
	  	Notices and Deliveries	  	52
	 11.11
	  	No Consequential Damages	  	54
	 11.12
	  	Entire Agreement	  	54
	 11.13
	  	Waiver	  	54
	 11.14
	  	Severability	  	54
	 11.15
	  	Counterparts	  	55
	 11.16
	  	Compliance with Laws	  	55
	 11.17
	  	Amendment	  	55

  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
  

 - iv - 

 COLLABORATIVE RESEARCH AND LICENSE AGREEMENT 
 THIS COLLABORATIVE RESEARCH AND LICENSE
AGREEMENT, together with schedules attached hereto (this “Agreement”) is entered into and effective as of July 10, 2009 (the “Effective Date”) by and between Codexis,
Inc., a Delaware corporation, having a place of business at 200 Penobscot Drive, Redwood City, California 94063, United States of America, (“Codexis”), Iogen Energy Corporation, a corporation existing under the law of
Canada, having a place of business at 310 Hunt Club Road East, Ottawa, Ontario K1V 1C1, Canada, (“IE”), Equilon Enterprises LLC dba Shell Oil Products US, a Delaware limited liability company, having a place of business at
910 Louisiana Street, Houston, Texas 77002, (“Shell US”), and Shell Chemicals Canada Limited, a corporation existing under the laws of Canada, having a place of business at 400 - 4th Avenue S.W., P.O. Box 4280, Station
‘C’, Calgary, Alberta T2T 5Z5, Canada (“Shell Canada” and together with Shell US “Shell”). Codexis, IE, Shell US and Shell Canada may each be referred to herein individually as a “Party”
or, collectively, as the “Parties.” 
 RECITALS 
 WHEREAS, Codexis possesses certain valuable business and/or technical knowledge, information and/or
expertise applicable to the enhancement of the performance of certain enzymatically and microbially catalyzed processes applicable to the conversion of Biomass to fuels; 
 WHEREAS, IE possesses certain valuable business and/or technical knowledge, information and/or expertise applicable to the conversion of Biomass to fuel, biocatalyst
technology used therein, and scale-up of such processes and technology; 
 WHEREAS, Codexis
and Shell US, entered into a certain License Agreement, effective as of November 1, 2006, as amended (the “Codexis-Shell US License Agreement”), and a certain Collaborative Research Agreement, effective as of November 1,
2006, as amended (the “Codexis-Shell US Research Agreement”), relating to Codexis developing certain new biocatalytic processes for use in the conversion of Biomass to fuels, fuel additives and lubricants; 
 WHEREAS, IE, Shell Canada and [*] entered into a certain [*] Agreement, effective as of
[*], as amended (the “IE-Shell Canada [*] Agreement”), and a certain [*] Agreement, effective as of [*], as amended (the “IE-Shell Canada [*] Agreement”), relating to [*] conducting
research and development in respect of the [*]; and 
 WHEREAS, Codexis and IE
desire to engage in a collaborative effort relating to their respective collaborations with Shell US and Shell Canada pursuant to which the Parties will develop technology relating to the conversion of biomass to ethanol, focusing in particular on
development of [*] for the production of ethanol from [*]. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 

 NOW, THEREFORE, in consideration of the
promises and undertakings set forth herein, the Parties agree as follows: 
 ARTICLE 1 
 DEFINITIONS 
 Except as otherwise specifically noted in Schedules 1.63 and 4.4(e), capitalized terms not otherwise defined herein will have the meaning set forth below: 
 1.1 “Affiliate” means any business entity controlling, controlled by, or under common control with any Party. For the purpose of this Section 1.1 only, “control” means
(a) the possession, directly or indirectly, of the power to direct the management or policies of a business entity, whether through the ownership of voting securities, by contract or otherwise, or (b) the ownership, directly or indirectly,
of more than fifty percent (50%) of the voting securities or other ownership interest of a business entity; provided that, if local law requires a minimum percentage of local ownership, control will be established by direct or indirect
beneficial ownership of one hundred percent (100%) of the maximum ownership percentage that may, under such local law, be owned by foreign interests. Notwithstanding anything to the contrary, for purposes of this Agreement, neither IE nor
Codexis shall be deemed to be an Affiliate of Shell Canada or Shell US, or any Affiliate of Shell US or Shell Canada. 
 1.2
“Arbitral Tribunal” has the meaning set forth in Section 2 of Schedule 11.9. 
 1.3 “Arbitration
Authority” has the meaning set forth in Section 1 of Schedule 11.9. 
 1.4 “Arbitration List” has
the meaning set forth in Section 2 of Schedule 11.9. 
 1.5 “Background Technology” means Technology
developed or acquired prior to or apart from the Program by Codexis or IE, as the case may be, that (a) is Technology outside the scope of Biocatalyst Technology, (b) Codexis or IE, as the case may be, has disclosed to the other Party to
provide information relating to the Program pursuant to Section 2.3(a)(ii) or Section 2.3(b)(ii), as applicable; and (c) is not Introduced Program Technology. 
 1.6 “Biocatalyst” means an enzyme or a Microbe that can enzymatically catalyze a particular chemical reaction. 
 1.7 “Biocatalyst Technology” means any and all Technology pertaining or relating directly to the development, production
and use of Biocatalysts, as set forth below: 
 (a) Microbial strains, enzymes, genes and genetic material, including all
samples, compositions, analyses and data relating to such materials; 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (b) Genetic and metabolic information, sequence information, information relating to gene
expression or metabolic processes, and information relating to biocatalyst performance and the process conditions under which biocatalysts are used; 
 (c) Shuffling Technology (other than Codexis Shuffling Technology); 
 (d)
Technology for the enzymatic saccharification of pretreated Biomass; 
 (e) Technology for the fermentation and scale-up of
[*] enzyme production systems (other than [*]); 
 (f) Technology for the fermentation and scale-up of [*],
but solely for the purposes of, and to the extent useful in, the fermentation and scale-up of [*] enzyme production systems (other than [*]); 
 (g) Information regarding the characteristics and properties of pretreated Biomass, including, for example, composition, physical and/or chemical properties, and [*] and [*] for Biocatalysts
present in such pretreated Biomass; and 
 (h) Technology for the production of [*] using Microbes, but solely for the
purposes of, and to the extent useful in, the development or use of [*] Microbes. 
 For the avoidance of doubt, Biocatalyst Technology
does not include any Biofuel Process Technology. The Parties each acknowledge and agree that any Technology that would be Biocatalyst Technology under this Section 1.7 and, in addition, would be Biofuel Process Technology under Section 1.8, will be
deemed only to be Biocatalyst Technology and will not, for any purpose, be Biofuel Process Technology. 
 1.8 “Biofuel
Process Technology” means any and all Technology pertaining or relating to processes or processing steps for the conversion of [*] to fuels or fuel blending components, including: [*]. For the avoidance of doubt, Biofuel
Process Technology does not include any Biocatalyst Technology. The Parties each acknowledge and agree that any Technology that would be Biofuel Process Technology under this Section 1.8 and, in addition, would be Biocatalyst Technology under
Section 1.7, will be deemed only to be Biocatalyst Technology and will not, for any purpose, be Biofuel Process Technology. 
 1.9 “Biomass” means organic, non-fossil, plant-derived matter available on a renewable basis, including, for example, crops and/or trees grown or harvested for use for fuel and/or fuel additive production, agricultural food
and feed crops, aquatic plants and, in each case, organic wastes derived from the foregoing, including without limitation municipal wastes (e.g., newspapers). By way of example and not limitation, Biomass

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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includes all grown crop and plant fiber consisting primarily of cellulose, hemicellulose and lignin, such as grass, switchgrass, straw, corn stover, cane residuals, general cereal wastes and wood
chips. 
 1.10 “Blend” means a combination of a specified ratio, or of specified amounts, of particular
enzymes. For purposes of clarification, “Blend” does not include any means of producing combinations of particular enzymes simultaneously by a single host organism. 
 1.11 “Breaching Party” has the meaning set forth in Section 10.5(a). 
 1.12 “[*]” means any [*] material that was licensed by [*] and [*] (collectively,
“[*]”) to Codexis pursuant to that certain [*] Agreement dated [*] (the “Codexis-[*] Agreement”), and any [*], derivative or modification of the foregoing. 
 1.13 “[*]” means any [*], that Codexis has [*] or has derived from [*], and is identified by Codexis
in accordance with Section 4.4(a) as subject to the terms and conditions of Section 4.4(b) – Section 4.4(h), together with any [*] thereof. 
 1.14 “[*]” means any [*] that Codexis has [*] or has derived from [*], and is identified by Codexis in accordance with Section 4.4(a) as subject to the terms and
conditions of Section 4.4(b) – Section 4.4(h), together with any [*] thereof. 
 1.15 “Calendar
Year” means each respective period commencing on January 1 and ending December 31 of the relevant year. 
 1.16 “Claim Notice” has the meaning set forth in Section 9.5. 
 1.17 “Codexis Background
Technology” means Background Technology Controlled by Codexis. 
 1.18 “Codexis Biocatalyst” has the
meaning set forth in Section 4.8(a). 
 1.19 “Codexis-[*] Agreement” has the meaning set forth in Section 1.12.

 1.20 “Codexis Introduced Program Technology” means Introduced Program Technology Controlled by Codexis.

 1.21 “Codexis Jointly Invented Research Technology” has the meaning set forth in Section 3.3(b). 

1.22 “Codexis Research Technology” has the meaning set forth in Section 3.3. 
 1.23 “Codexis Screening Technology” means (a) Technology Controlled by Codexis relating to particular assays used to
evaluate the function of Biocatalysts developed under the Program, (b) Information regarding specific genetic modifications

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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to Biocatalysts and/or (c) other Information that Codexis identifies in writing as Codexis Screening Technology, that in each of (a), (b) and (c) Codexis discloses for use in the
Program in accordance with Section 2.3(a)(ii). For the avoidance of doubt, Codexis Screening Technology does not include any Codexis Shuffling Technology. The Parties each acknowledge and agree that any Technology that would be Codexis Screening
Technology under this Section 1.23 and, in addition, would be Codexis Shuffling Technology under Section 1.24, will be deemed only to be Codexis Screening Technology and will not, for any purpose, be Codexis Shuffling Technology. 
 1.24 “Codexis Shuffling Technology” means Shuffling Technology owned or otherwise controlled by Codexis. For the avoidance
of doubt, Codexis Shuffling Technology does not include any Codexis Screening Technology. The Parties each acknowledge and agree that any Technology that would be Codexis Shuffling Technology under this Section 1.24 and, in addition, would be
Codexis Screening Technology under Section 1.23, will be deemed only to be Codexis Screening Technology and will not, for any purpose, be Codexis Shuffling Technology. 
 1.25 “Codexis Solely Invented Research Technology” has the meaning set forth in Section 3.3(a). 
 1.26 “Commercial Improvements” mean any and all improvements made outside of the Program that, during the period beginning on the Effective Date and continuing until, and ending on, the
[*] anniversary of the expiration of the Research Term, are (a) licensed to a Third Party by Codexis or its Affiliates, or (b) the subject of a release or covenant not to sue extended by Codexis or its Affiliates to a Third Party,
or (c) put into commercial practice by Codexis or its Affiliates, or (d) the subject of a patent application, provisional application, or like filing anywhere in the world filed by Codexis or an Affiliate of Codexis; provided that,
with respect to any provisional application, such provisional application is converted into a utility patent application. For purposes of clarification, in the event that a provisional application disclosing an improvement is filed by Codexis or an
Affiliate of Codexis during the period described in this Section 1.26, and either (i) converted into a utility patent application after expiration of such period, or (ii) abandoned and, after expiration of such period, re-filed and then
converted into a utility patent application, such disclosed improvement will be deemed to be a Commercial Improvement for purposes of this Section 1.26. 
 1.27 “Confidential Information” means any and all non-public and proprietary Information that is specifically designated as such and that is disclosed by a Party or its Affiliates to any
of the other Parties or their respective Affiliates in written or other similar form in connection with this Agreement and that, if orally or visually disclosed, shall be summarized in writing in detail and specifically designated as proprietary and
such summary delivered to the receiving Party within thirty (30) days after such disclosure. 
 1.28
“Control” means, with respect to an item, Information, Patent Right or an intellectual property right, possession of the ability, whether arising by ownership or

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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license or otherwise, to grant a license or sublicense as provided for under this Agreement under such item, Information, Patent Right or intellectual property right without violating the terms
of any written agreement with a Third Party. 
 1.29 “Covenanting Party” has the meaning set forth in Section
4.4(e). 
 1.30 “Default Notice” has the meaning set forth in Section 10.4. 
 1.31 “Disputing Party” has the meaning set forth in Section 10.4. 
 1.32 “[*] Party” has the meaning set forth in Section 4.4(f). 
 1.33 “Environmental Law” has the meaning set forth in Section 9.4. 
 1.34 “Fuels Field” means the conversion of (a) Biomass into fermentable sugars, such sugars to be converted into
(i) liquid fuel and/or liquid fuel additives and/or (ii) Lubricants, and (b) fermentable sugars derived from Biomass into (i) liquid fuel and/or liquid fuel additives, and/or (ii) Lubricants. For purposes of this Section
1.34 only, (1) “liquid” means [*], and (2) “fuel additive” means [*]. 
 1.35
“Hazardous Materials” has the meaning set forth in Section 9.4. 
 1.36 “Information” means data,
results, evaluations, inventories, Biocatalysts, show-how, know-how, computer chip and programs, processes, machines, biological chemicals, intermediates, trade secrets, techniques, methods, developments, materials, methods of analysis, compositions
of matter, copyrights or other information. 
 1.37 “IE Background Technology” means Background Technology
Controlled by IE. 
 1.38 “IE Biofuel Process Technology” means Biofuel Process Technology Controlled by IE.

 1.39 “IE Research Technology” has the meaning set forth in Section 3.4. 
 1.40 “IE Introduced Program Technology” means Introduced Program Technology Controlled by IE. 
 1.41 “IE Jointly Invented Research Technology” has the meaning set forth in Section 3.4(b). 
 1.42 “IE Solely Invented Research Technology” has the meaning set forth in Section 3.4(a). 
 1.43 “International Trade Laws” has the meaning set forth in Section 11.4. 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 1.44 “Introduced Program Technology” means Technology Controlled by Codexis
or IE, as applicable, that such Party developed or acquired prior to or apart from the Program and that such Party uses in the Program, or has disclosed for use in the Program, falling within the scope of: 
 (a) Biocatalyst Technology; or 
 (b) Any other Technology that such Party identifies (by providing notice pursuant to Section 11.10) as Introduced Program Technology, or requests (by providing notice pursuant to Section 11.10) the
other Party work on and improve within the scope of the Program. 
 Notwithstanding anything to the contrary in this Agreement, Introduced
Program Technology shall not include Codexis Shuffling Technology or IE Biofuel Process Technology. 
 1.45 “Jointly
Owned Research Technology” has the meaning set forth in Section 3.6. 
 1.46 “Losses” has the meaning
set forth in Section 9.1. 
 1.47 “Lubricant” means [*]. 
 1.48 “Microbes” means whole (live or dead) prokaryotic organisms and/or yeasts and/or fungi or extracts thereof. Microbes
shall not include land plants, including nonseed plants (Bryophytes, Tracheophytes) such as liverworts, mosses, ferns, and seed plants, such as gymnosperms and angiosperms (monocot and dicots); and/or non-land plants, including Prasinophytes,
Chlorophyceae, Trebouxiouphyceae, Ulvophyceae, Chlorokybales, Streptophyta, Klebsormidiales, Zygnematales, Charales, Coleochaetales and Embryophytes. 
 1.49 “Non-Breaching Party” has the meaning set forth in Section 10.5(a). 
 1.50 “Notice to Arbitrate” has the meaning set forth in Section 1 of Schedule 11.9. 
 1.51
“Out-Sourcing Party” has the meaning set forth in Section 4.7(a). 
 1.52 “Oversight Committee”
has the meaning set forth in Section 2.2(a). 
 1.53 “Patent Committee” has the meaning set forth in Section
2.2(a)(viii). 
 1.54 “Patent Rights” means all patent applications and patents, including provisional
applications, whether domestic or foreign, all continuations, continuations-in-part and divisions of such patent applications and of patent applications from which such patents issued, all patents issuing from any of such patent applications, and
all renewals, reissues, re-examinations and extensions of any of such patents. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
  

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 1.55 “Permitted Products” has the meaning set forth in Section 10.6(a).

 1.56 “Program” means the program of activities conducted by Codexis and/or IE and/or Shell under the terms
of this Agreement during the Research Term, as further described in Research Plans. 
 1.57 “Research Plan”
means a written plan to be agreed upon by the Parties describing activities to be carried out in connection with each project under the Program, which plan may be amended from time to time by agreement between the Parties in accordance with Section
2.2(a)(ii). 
 1.58 “Research Technology” means Technology developed or acquired by IE, Codexis and/or Shell in
carrying out the Program. Notwithstanding anything to the contrary, Research Technology shall not include Codexis Shuffling Technology or IE Biofuel Process Technology. 
 1.59 “Research Term” has the meaning set forth in Section 10.1(a). 
 1.60 “Rules” has the meaning set forth in Section 1 of Schedule 11.9. 
 1.61 “Shell
Agreements” means (a) the Codexis-Shell US License Agreement, (b) the Codexis-Shell US Research Agreement, (c) the IE-Shell Canada [*] Agreement, and (d) the IE-Shell Canada [*] Agreement. 
 1.62 “Shell Biofuel Technology” means any Intellectual Property owned or controlled by Shell Canada and/or its Affiliates,
or to which Shell Canada and/or its Affiliates have sub-licensable rights, that Shell Canada, in its sole discretion, chooses to both (a) make available to IE to use in the Development Program and (b) grant IE rights to use in conjunction
with the IE Technology pursuant to the terms and conditions of Section [*] of the IE-Shell Canada [*] Agreement, where for purposes of this Section 1.62 the terms “Development Program,” “Affiliates,” “IE
Technology” and “Intellectual Property” have the meanings set forth in Schedule 1.62. 
 1.63 “Shell
Research Technology” means Research Technology that is owned by Shell pursuant to Section 3.5. 
 1.64
“Shuffling” means the characterization, development and optimization of genes and proteins for commercial uses through the recombination and/or rearrangement and/or mutation of genetic material for the creation of genetic diversity.

 1.65 “Shuffling Technology” means any and all techniques, methodologies, processes, materials and/or
instrumentation, including without limitation any and all Patent Rights, know-how, confidential information and materials relating thereto, that, in each case, relates to Shuffling, and generally applicable screening techniques, methodologies, or
processes of using the resulting genetic material, enzymes and

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Microbes to identify potential usefulness of such genetic material, enzymes and Microbes. 
 1.66 “Technology” means and includes all materials, technology, technical Information, intellectual property, know-how, expertise and trade secrets. 
 1.67 “Term” has the meaning set forth in Section 10.1(b). 
 1.68 “Third Party” means any party other than Codexis, IE, Shell US, Shell Canada or any of their respective Affiliates.

 1.69 “Third Party Agreements” means the agreements set forth in Schedule 1.69, and which may be updated from
time to time. A Party shall additionally schedule any further agreement that limits the rights to, or otherwise imposes obligations on the utilization of, any Technology that a Party desires to disclose as Introduced Program Technology under Section
2.3(a)(iv), 2.3(b)(iv) or 2.3(c)(i), as applicable. 
 1.70 “[*]” means the species that are listed for
[*] and its genetically identical equivalent [*] on the official website of [*], as of the Effective Date, set forth in Schedule 1.70. 
 ARTICLE 2 
 PROGRAM ACTIVITIES 
 2.1 Purpose. The Parties shall conduct the Program during the Research Term. The objective of the Program is to (a) coordinate
the activities of Codexis and Shell under the Codexis-Shell US Research Agreement and the activities of IE and Shell under the IE-Shell Canada [*] Agreement, and (b) optimize the benefits to each of Codexis and Shell under the
Codexis-Shell US Agreements and the benefits to each of IE and Shell under the IE-Shell Canada Agreements, all in connection with development of biocatalytic processes for use in the conversion of Biomass to fuels, fuel additives and Lubricants.

 2.2 Oversight Committee. 
 (a) Function. The Parties shall establish an oversight committee (the “Oversight Committee”) having the following duties: 
 (i) set priorities for the Parties’ performance under the Program; 
 (ii) review and approve the Research Plans as proposed by the Parties under this Agreement; 
 (iii) review and evaluate progress under the Research Plans; 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

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 (iv) approve modifications to the Research Plans, as appropriate; 
 (v) review annual objectives for activities to be carried out under each Research Plan by the Parties; 
 (vi) coordinate, monitor and approve the exchange of Information that relates to the Program, including without limitation the
disclosure of Background Technology as further set forth in Section 2.3(d). 
 (vii) coordinate, monitor and approve the
publication of research results obtained from the Program; provided, however, that publication of research results by any Party will be consistent with each Party’s confidentiality obligations under the Shell Agreements;
provided, further, that notwithstanding anything to the contrary herein or in the Shell Agreements, each Party shall have the right to disclose research results to the extent necessary for filing any patent application in accordance
with each Party’s rights under Article 6; 
 (viii) review non-confidential summaries of Background Technology that
either Codexis or IE, as the case may be, proposes to disclose to the other Party under the Program and, considering the potential benefits to the Program and the risk of contamination to the other Parties, recommend whether such Party’s
Background Technology should be disclosed to the other Party under the Program; 
 (ix) review and approve, for purposes
of activities under the terms of this Agreement, the use of Codexis Introduced Program Technology and Codexis Solely Invented Research Technology, and IE Introduced Program Technology and IE Solely Invented Research Technology, such use to be
approved by the Party that Controls the Technology; 
 (x) establish a patent committee consisting of persons
knowledgeable in patent law and in the technology areas within the Program (the “Patent Committee”) such Patent Committee to (1) meet (for example, by telephone or in person) at least monthly (unless otherwise agreed by the
Parties) for the purposes of discussing and coordinating the filing of patent applications and other related intellectual property matters regarding any invention made during the Research Term in order to maximize the benefit to the Parties and
(2) provide recommendations to the Oversight Committee regarding the filing of such applications and other intellectual property matters; 
 (xi) if applicable, submit disputes or disagreements that it does not resolve within the time provided in Section 2.2(e) to senior executive officers of each Party as designated by each Party, as
further described in Section 2.2(e); and 
 (xii) perform such other functions as appropriate to further the purposes of
this Agreement as determined by the Parties, including without limitation, for

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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example, the appointment of subcommittees with unique skills, as appropriate, and the periodic evaluation of performance against goals. 
 (b) Membership. Codexis, IE and Shell, each shall appoint one (1) person to the Oversight Committee, and shall provide
written notice to the other Parties of the names and contact information of such person within fifteen (15) days after the Effective Date. A Party may appoint a temporary or permanent substitute for its member at any time, such substitution to
be effective immediately upon providing written notice to the other Parties. 
 (c) Meetings. The Oversight
Committee shall meet, in person, at least once during each four (4) months. During each Calendar Year, the Oversight Committee will meet once in Ottawa, Ontario, Canada, once in Redwood City, California, USA, and once in Houston, Texas, USA,
unless mutually agreed otherwise. In addition, unless otherwise agreed by the Parties, the Oversight Committee will meet, telephonically, once per month. Representatives of the Parties, in addition to members of the Oversight Committee, may attend
such meetings at the invitation of any Party. 
 (d) Minutes. The Oversight Committee shall keep accurate written
minutes of its deliberations that record all proposed decisions and all actions recommended or taken. Drafts of the minutes shall be delivered to all Oversight Committee members within ten (10) business days after each such meeting. The Party
hosting the meeting shall appoint a chairperson for such meeting, and shall be responsible for the preparation and circulation of the draft minutes. Draft minutes shall be edited within ten (10) business days after receipt of such draft minutes
by each of the Parties and shall be issued in final form only after each Party has provided its respective approval and agreement. A final copy of the minutes of each meeting, after review and modification of any draft version by each of the
Parties, shall be issued no later than thirty (30) business days after such meeting. 
 (e) Decisions. All
decisions of the Oversight Committee shall be by unanimous vote or unanimous written consent. If a disagreement among members of the Oversight Committee remains unresolved for more than thirty (30) business days after the Oversight Committee
first addresses such matter (or such longer period as the Parties may mutually agree), such disagreement shall be submitted to senior executive officers of each Party as designated by each Party in a written notice to the other Parties. These senior
executive officers shall meet as soon as practicable and attempt in good faith to resolve the disagreement. Notwithstanding anything to the contrary, the decision of senior executive officers, whether to agree on a course of action or disagree and
take no action, will be the final resolution of any disagreement among members of the Oversight Committee regarding a matter within the scope of the duties set forth in Section 2.2(a) above, and no disagreement among such senior executive officers
regarding such a matter may be referred to the dispute resolution procedure set forth in Section 11.9. 
 (f)
Expenses. Each Party shall bear any and all costs and expenses of its respective members related to their participation on the Oversight Committee. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 2.3 Contributions and Information Sharing. 
 (a) Codexis. 
 (i) Codexis Introduced Program Technology. Codexis, in its sole discretion, shall have the right to choose what Technology Controlled by Codexis shall be disclosed for use in the Program and thereby become Codexis Introduced
Program Technology; provided that, prior to disclosing for use in the Program any Technology that is developed under the Codexis-Shell US Research Agreement as Codexis Introduced Program Technology, Codexis shall consult with Shell US.

 (ii) Codexis Background Technology. Subject to Section 2.3(d) below, Codexis, in its sole discretion, shall
have the right to choose what Technology Controlled by Codexis, which is outside the scope of Biocatalyst Technology, shall be disclosed for use in the Program and thereby become Codexis Background Technology. Notwithstanding anything to the
contrary, Codexis Background Technology shall not include Codexis Shuffling Technology. 
 (iii) Use of Codexis
Introduced Program and Background Technology. IE and Shell shall not use any Codexis Introduced Program Technology and/or any Codexis Background Technology except as permitted by the terms of this Agreement and, in the case of Shell, by the
terms of the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement. 
 (iv) Third Party
Agreements. On or before the Effective Date, Codexis shall provide IE and Shell with redacted versions of the Codexis Third Party Agreements set forth on Schedule 1.69. During the Term, Codexis shall promptly provide IE and Shell with redacted
versions of any Codexis Third Party Agreements that are added to Schedule 1.69. 
 (b) Iogen Energy. 
 (i) IE Introduced Program Technology. IE, in its sole discretion, shall have the right to choose what Technology Controlled
by IE shall be disclosed for use in the Program and thereby become IE Introduced Program Technology. Notwithstanding the foregoing, in the event that Shell desires any Shell Biofuels Technology to be disclosed for use in the Program, Shell shall
provide written notice thereof to IE and, upon receipt of such notice, IE shall disclose such Shell Biofuels Technology for use in the Program as IE Introduced Program Technology. 
 (ii) IE Background Technology. Subject to Section 2.3(d) below, IE, in its sole discretion, shall have the right to choose
what Technology Controlled by IE, which is outside the scope of Biocatalyst Technology, shall be disclosed for use in the Program and thereby become IE Background Technology. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

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 (iii) Use of IE Introduced Program and Background Technology. Codexis and
Shell shall not use any IE Introduced Program Technology and/or any IE Background Technology except as permitted by the terms of this Agreement and, in the case of Shell, by the terms of the IE-Shell Canada [*] Agreement and the IE-Shell
Canada [*] Agreement. 
 (iv) Third Party Agreements. On or before the Effective Date, IE shall provide
Codexis and Shell with redacted versions of the IE Third Party Agreements set forth on Schedule 1.69. During the Term, IE shall promptly provide Codexis and Shell with redacted versions of any IE Third Party Agreements that are added to Schedule
1.69. 
 (c) Shell. 
 (i) Third Party Agreements. On or before the Effective Date, Shell shall provide and Codexis and IE with redacted versions of the Shell Third Party Agreements set forth on Schedule 1.69.
During the Term, Shell shall promptly provide Codexis and IE with redacted versions of any Shell Third Party Agreements that are added to Schedule 1.69. 
 (d) Disclosure of Background Technology. 
 (i)
Notwithstanding anything to the contrary, each Party, in its sole discretion, shall have the right to choose what portion, if any, of its Background Technology is to be disclosed for use in the Program; provided, however, that, prior
to disclosing any Background Technology, the disclosing Party will provide a non-confidential written summary of such Background Technology to the Oversight Committee. The Oversight Committee will determine whether any of the other Parties objects
to such disclosure and if, for any reason, any of the other Parties objects to such disclosure, such objected to Background Technology will not be disclosed to the other Parties. 
 (ii) The Parties acknowledge that, notwithstanding the procedure set forth in Section 2.3(d)(i), inadvertent and accidental
disclosures of Background Technology may occur. In any such event, the Parties receiving Background Technology that such receiving Parties know or learn was inadvertently and accidentally disclosed will commit not to use such Background Technology
in any program, including without limitation the Program, or for any commercial or research purpose; provided, however, that such receiving Parties will not be precluded from using any Technology developed independently from such
Background Technology. For purposes of this Section 2.3(d)(ii), the phrase “developed independently” means development by employees, consultants or independent contractors of a receiving Party without use of or access to Background
Technology of another Party, consistent with the laws of the State of New York, as applied to contracts entered into, and to be performed wholly within, the State of New York, USA. In the event that a disclosing Party believes that another Party has
misappropriated Background Technology that such disclosing Party has informed the

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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receiving Party in writing was inadvertently and accidentally disclosed, and elects to seek a remedy for such alleged misappropriation, such disclosing Party will bear the burden of proof to
demonstrate that misappropriation actually occurred. In the event that a Party is unable to demonstrate that misappropriation of its Background Technology actually occurred, such Party, within ten (10) days after a finding in favor of the other
Party, will reimburse such other Party for [*] of the out-of-pocket costs and expenses in defense of the allegation of misappropriation, including without limitation [*]. 
 (e) Sharing of Information. Each Party shall share and disclose all material Information generated during the Research Term in
the performance of the Program, including without limitation Research Technology and improvements and inventions relating to Codexis Introduced Program Technology or IE Introduced Program Technology. 
 2.4 Reports and Materials. 
 (a) Reports. 
 (i) During the Research Term, each Party shall
provide to the Oversight Committee: 
 (1) summary written reports within thirty (30) days after the end of each
calendar quarter after the Effective Date, describing such Party’s work and progress, if any, under each Research Plan during the just-ended calendar quarter; 
 (2) annual executive summaries within thirty (30) days after the end of each Calendar Year during the Research Term for each Research Plan for which work was performed during the just-ended
Calendar Year; 
 (3) a comprehensive written report within thirty (30) days after completion of all work under
each Research Plan, describing in detail the work accomplished under such Research Plan and discussing and evaluating the results of such work; and 
 (4) a comprehensive written report within ninety (90) days after the end of the Research Term, describing in detail the work accomplished under the Program during the Research Term and
discussing and evaluating the results of such work. 
 (ii) Any report delivered to a Party hereunder shall be owned by
the delivering Party; provided, however, that all such reports shall be deemed to be Confidential Information of the Parties for purposes of Article 7. 
 (b) Materials. During the Research Term, each Party shall furnish samples of biochemical, biological or synthetic chemical materials to any of the other

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Parties that are part of Introduced Program Technology or Research Technology and that are necessary for the other Party to carry out its responsibilities under a Research Plan and, at the time
of furnishing any sample, the Party providing such sample shall provide notice thereof to Shell. The transfer of any such materials from a Party to any of the other Parties shall be under the terms set forth on Schedule 2.4(b). 
 2.5 Laboratory Facility and Personnel. Each Party shall be responsible, at its own cost and expense, for providing suitable
laboratory facilities, equipment and personnel for the work to be done by such Party in carrying out the Research Plans. It is understood and agreed that the work to be conducted by a Party under this Agreement may be carried out by its Affiliates
and/or independent contractors, as such Party may determine or, in the case of IE, [*], as IE may determine; provided that all such work shall be conducted, and the rights and obligations of the Parties with respect to such work, shall
be governed by the terms and conditions set forth in this Agreement. 
 2.6 Efforts. Each Party shall use
commercially reasonable efforts during the Research Term to perform that part of the Program for which such Party is responsible, pursuant to the terms and conditions of this Agreement, and to complete such tasks in compliance with the applicable
Research Plan. Notwithstanding the foregoing, nothing in this Agreement shall prevent Codexis or IE from carrying out any research, development or other activity independent of the Program, and such independent activity shall be outside the scope of
this Agreement. 
 2.7 Acknowledgement and Waiver. Shell US acknowledges that work to be conducted by Codexis
under this Agreement will be in the Fuels Field. Shell US hereby (a) waives, solely with respect to this Agreement, the requirement under the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, including in
particular Sections 3.2 and 9.3 of the Codexis-Shell US Research Agreement, that Codexis act exclusively with Shell US, and conduct research, discovery and development activities, in the Fuels Field only with Shell US and Affiliates of Shell US, and
(b) agrees that Codexis will not be in breach of its obligations to Shell US under either the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement by reason of (i) entering into this Agreement and/or
(ii) conducting work under the terms of this Agreement, including, without limitation, the grant of rights to IE under Section 4.1. 
 ARTICLE 3 
 OWNERSHIP OF TECHNOLOGY 
 3.1 Codexis Background and Codexis Introduced Program Technology. Subject to the rights expressly granted to IE under the
terms and conditions of this Agreement, and subject to the rights expressly granted to Shell US under the terms and conditions of the Codexis-Shell US License Agreement and the Codexis-Shell US Research Agreement, Codexis owns or otherwise controls,
and shall own or otherwise control, all right, title and interest in, to and under any and all Codexis Background Technology and Codexis Introduced Program Technology. 
  

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential
treatment has been requested with respect to the omitted portions. 
  

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 3.2 IE Background and IE Introduced Program Technology. Subject to the rights
expressly granted to Codexis under the terms and conditions of this Agreement, and subject to the rights expressly granted to Shell Canada under the terms and conditions of the IE-Shell Canada [*] Agreement and the IE-Shell Canada [*]
Agreement, IE owns or otherwise controls, and shall own or otherwise control, all right, title and interest in, to and under any and all IE Background Technology and IE Introduced Program Technology. 
 3.3 Codexis Research Technology. 
 (a) Codexis solely owns all Research Technology invented by Codexis, or by Codexis and Shell jointly, in either case, whether by an employee(s) or a consultant(s), as determined under U.S. patent
law (“Codexis Solely Invented Research Technology”). 
 (b) Codexis solely owns Research Technology
invented by Codexis and IE jointly, either with or without Shell, whether by an employee(s) or a consultant(s) to such Party(ies), as determined under U.S. patent law, in the following categories (“Codexis Jointly Invented Research
Technology”): 
 (i) process Technology for the [*] other than [*]; 
 (ii) genes and enzymes useful in the [*], including without limitation Technology regarding the (1) use of such genes
and enzymes and (2) production of such genes and enzymes [*], other than (A) genes and enzymes that originate from [*] and (B) Technology regarding the use of any such gene or enzyme where such Technology does not
include a [*] (other than genes or enzymes that originate from [*] and/or [*]); 
 (iii) gene
expression and gene expression systems that [*]; provided, however, that if such Technology is applicable to both expression systems that [*], ownership of such Technology shall be governed by [*]; 
 (iv) methods of developing novel [*]; and 
 (v) genes, enzymes, pathways and Microbes related to [*], including without limitation [*], methods of use, pathway engineering of such [*], engineered genes useful in such
[*] and pathways and methods of making and culturing such [*], excluding [*]. 
 (c) Codexis Solely
Invented Research Technology and Codexis Jointly Invented Research Technology are collectively referred to as “Codexis Research Technology.”  
  

[*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 3.4 IE Research Technology. 
 (a) IE solely owns all Research Technology invented by IE, or by IE and Shell jointly, in either case, whether by an employee(s) or a
consultant(s), as determined under U.S. patent law (“IE Solely Invented Research Technology”). 
 (b) IE
solely owns all Research Technology invented by Codexis and IE jointly, either with or without Shell, whether by an employee(s) or a consultant(s) to such Party(ies), as determined under U.S. patent law, in the following categories (“IE
Jointly Invented Research Technology”): 
 (i) [*] processes or Technology to [*] and the
[*] by such process or Technology; 
 (ii) process Technology for the [*] that are [*]; 

(iii) process Technology for the production and recovery of [*], including any and all processes relating to [*];

 (iv) process Technology for the [*] to the extent such Technology is not covered in any other [*] and
[*]; 
 (v) genes and enzymes that (1) originate from [*] and (2) are useful in the [*],
including without limitation Technology regarding the (A) use of such genes and enzymes and (B) production of such genes and enzymes in [*]; 
 (vi) Technology regarding the use of any gene or enzyme useful in the [*] of Biomass where such Technology does not include a [*] (other than use of genes or enzymes that originate
from [*] and/or [*]); 
 (vii) gene expression and gene expression systems but only to the extent that
such Technology is limited to expression systems that [*]; 
 (viii) [*]; and 
 (ix) genes, enzymes, pathways and Microbes related to [*] solely to the extent that such Technology is applicable only to
[*], including without limitation [*], methods of use, pathway engineering of such [*], engineered genes useful in such [*] and pathways and methods of making and culturing such [*]. 
 (c) IE Solely Invented Research Technology and IE Jointly Invented Research Technology are collectively referred to as “IE
Research Technology.”  
 3.5 Shell Research Technology. Shell solely owns all Research Technology invented
solely by Shell, whether by an employee(s) or a consultant(s), as determined under U.S. patent law. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 
  

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 3.6 Jointly Owned Research Technology. All Research Technology not falling within the
scope of Section 3.3, Section 3.4 or Section 3.5 shall be: 
 (a) jointly owned by Codexis and IE (“Jointly Owned
Research Technology”); 
 (b) deemed Confidential Information hereunder, with no obligation on any Party or
Parties to summarize or designate any Jointly Owned Research Technology as confidential, notwithstanding Section 1.27 to the contrary; and 
 (c) utilized by the Parties only as set forth in Article 4 of this Agreement; provided, however, that nothing herein shall restrict a Party from any use incident to preparation or
filing of a patent application as permitted under the terms of Article 6. 
 3.7 Assignments. As may be reasonably
requested, each of the Parties shall sell, assign, deliver, convey, transfer and set over, and hereby sells, assigns, delivers, conveys, transfers and sets over, to another Party or to other Parties such of its right, title and interest in and to
any Research Technology as may be necessary to conform the legal title in the same with the ownership set forth in Section 3.3, 3.4 or 3.6. 
 3.8 No Implied License. No grant of an ownership interest to a Party pursuant to this Article 3 with respect to Research Technology shall be construed as granting that owning Party any additional
license under any other Technology controlled by another Party, even if necessary, or desirable, to practice such Research Technology. For the avoidance of doubt, the grant of ownership to Codexis with respect to Codexis Research Technology under
Section 3.3 shall not be construed as granting any license or right under any Patent Right or Technology Controlled by IE, and the grant of ownership to IE of IE Research Technology under Section 3.4 shall not be construed as granting any
license or right under any Patent Right or Technology Controlled by Codexis. 
 ARTICLE 4 
 LICENSES; COORDINATION OF AGREEMENTS 
 4.1 To Iogen Energy. 
 (a) Research Activities License.
Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to IE a non-exclusive royalty- and payment-free license under (i) Codexis Introduced
Program Technology, (ii) Codexis Background Technology, (iii) Codexis Research Technology, and (iv) Jointly Owned Research Technology, in each case, only to conduct research activities under the Program during the Research Term. For
purposes of clarification, no right or interest is granted by Codexis to IE under or with respect to Codexis Shuffling Technology. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 (b) IE Rights and Obligations in Fuels Field. Each of Codexis, IE, Shell US
and Shell Canada hereby acknowledges and agrees that IE’s rights and obligations with respect to the utilization, in the Fuels Field, of any and all Codexis Introduced Program Technology, Codexis Research Technology, Jointly Owned Research
Technology and IE Jointly Invented Research Technology, will be governed by the terms and conditions of this Agreement, and the terms and conditions of the IE-Shell Canada [*] Agreement as specified in this Section 4.1(b) below, subject to
the terms and conditions of the Codexis Third Party Agreements and the limitations of the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, in all instances, as Codexis disclosed to IE as of the Effective Date;
provided, however, that to the extent that there is a specific conflict between a provision of this Agreement and a provision of the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement, then the provisions of
this Agreement shall prevail. 
 (i) Codexis Introduced Program Technology and Codexis Research Technology.
IE’s rights to utilize any and all Codexis Introduced Program Technology in the Fuels Field, and to utilize any and all Codexis Research Technology in the Fuels Field, will be governed by the IE-Shell Canada [*] Agreement, as follows:

 (1) The Codexis Introduced Program Technology and the Codexis Research Technology will be deemed to be Shell Biofuel
Technology; and 
 (2) The license (including the right to sublicense) granted by Shell Canada to IE under the IE-Shell
Canada [*] Agreement will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (ii)
Jointly Owned Research Technology and IE Jointly Invented Research Technology. IE’s rights to utilize any and all Jointly Owned Research Technology in the Fuels Field, and to utilize any and all IE Jointly Invented Research Technology in
the Fuels Field, will be governed by the IE-Shell Canada [*] Agreement, as follows: 
 (1) The Jointly Owned
Research Technology and the IE Jointly Invented Research Technology will be deemed to be Shell Biofuel Technology; and 
 (2) The license (including the right to sublicense) granted by Shell Canada to IE under the IE-Shell Canada [*] Agreement will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (iii) IE Solely Invented Research Technology. IE will have the right to freely utilize any and all IE Solely Invented Research
Technology, in the Fuels Field, without any payment or royalty obligation to any of the other Parties to this Agreement. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 (iv) Commercial Improvements. IE’s rights to utilize any and all
Commercial Improvements to any and all Biocatalysts that are derived from Research Technology disclosed to Shell and IE pursuant to Section 4.5 in the Fuels Field will be governed by the IE-Shell Canada [*] Agreement as follows: 

(1) such Commercial Improvements will be deemed Shell Biofuel Technology; and 
 (2) the license (including the right to sublicense) granted by Shell Canada to IE under the IE-Shell Canada [*] Agreement
will apply to such Shell Biofuel Technology, but will be limited to the Fuels Field. 
 (c) IE Rights Outside Fuels
Field. 
 (i) Codexis Research Technology and Codexis Introduced Program Technology. Subject to the terms and
conditions of this Agreement, and subject to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to IE and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense
rights, under Codexis Research Technology and Codexis Introduced Program Technology, excluding, in each case, any and all Patent Rights within such Technologies, for use outside the Fuels Field solely to the extent that such Codexis Research
Technology and such Codexis Introduced Program Technology is necessary to produce and/or to utilize any Biocatalyst developed in the Program and owned or otherwise controlled by IE, other than any Biocatalyst that originated as a Biocatalyst
contained within Codexis Introduced Program Technology and/or Codexis Research Technology. 
 (ii) Jointly Owned
Research Technology and IE Research Technology. Subject to the terms and conditions of the Codexis Third Party Agreements, IE will have the right to utilize any and all Jointly Owned Research Technology and IE Research Technology outside the
Fuels Field without any payment or royalty obligation to any of the other Parties to this Agreement. 
 (d) Shell
Research Technology. Shell Research Technology shall be deemed Shell Biofuel Technology governed by the IE-Shell Canada [*] Agreement. 
 4.2 To Codexis. 
 (a) Research Activities License to Codexis.
Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the IE Third Party Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive royalty- and payment-free license under (i) IE
Introduced Program Technology, (ii) IE Background Technology, (iii) IE Research Technology, and (iv) Jointly Owned Research Technology, in each case, only to conduct research activities under the Program during the Research Term.

  
 [*] Certain information in this document has been omitted and
filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (b) Codexis Rights and Obligations in Fuels Field. Each of Codexis, IE, Shell
US and Shell Canada hereby acknowledges and agrees that Codexis’ rights and obligations with respect to the utilization of any and all IE Jointly Invented Research Technology in the Fuels Field, will be governed by the provisions of this
Section 4.2(b). 
 (i) Subject to the terms and conditions of this Agreement and subject to the terms and conditions of
the IE Third Party Agreements, IE hereby grants to Codexis a license limited to the right to grant sublicense rights solely to Shell US and its Affiliates under IE Jointly Invented Research Technology to manufacture, have manufactured, use, sell,
offer for sale and import products within the Fuels Field, on a worldwide basis; such limited license neither granting to Codexis, nor permitting Codexis to reserve for Codexis, any right or license to manufacture, have manufactured, use, sell,
offer for sale or import any product under any IE Jointly Invented Research Technology, within the Fuels Field, or to otherwise utilize or practice any IE Jointly Invented Research Technology within the Fuels Field. Codexis and Shell US each
acknowledge and agree that the sublicense rights received by Shell under this Section 4.2(b)(i) that are the subject of the limited license granted by IE to Codexis pursuant to this Section 4.2(b)(i) under IE Jointly Invented Research Technology
shall be deemed to be Program Patent Rights and Program Licensed Technology (as defined in the Codexis-Shell US License Agreement), as applicable. 
 (ii) Notwithstanding anything in this Agreement to the contrary, IE covenants and agrees not to grant any right or license to Shell, or to an Affiliate of Shell, under IE Jointly Invented Research
Technology in the Fuels Field. Insofar as the foregoing covenant not to grant any right or license to Shell, or to an Affiliate of Shell, may be inconsistent with the license(s) granted by IE to Shell Canada under the terms of the IE-Shell Canada
[*] Agreement, Shell Canada and IE agree that the provisions of this Section 4.2(b)(ii) shall control. 
 (iii)
Notwithstanding anything in this Agreement to the contrary, in the event that Shell, or an Affiliate of Shell, [*], the limited license granted by IE to Codexis pursuant to Section 4.2(b)(i) will, as of the effective date of such acquisition,
be converted automatically, without the requirement of any action by IE, Shell or Codexis, to an exclusive license, subject to terms and conditions of the IE Third Party Agreements, the Codexis-Shell US License Agreement and this Agreement. Insofar
as the foregoing may be inconsistent with the license(s) granted by IE to Shell Canada under the terms of the IE-Shell Canada [*] Agreement, Shell Canada and IE each acknowledge and agree that the provisions of this Section 4.2(b)(iii) shall
control. 
 (iv) Notwithstanding anything to the contrary in the Codexis-Shell US License Agreement, in the event that
Shell or an Affiliate of Shell asserts that no payment is due to Codexis under the terms of the Codexis-Shell US License Agreement, or that the payment due to Codexis is less than the amount calculated under the terms of the Codexis-Shell US License
Agreement based on an argument that Codexis does not own or otherwise control IE Jointly Invented Research Technology

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - 21 - 

 
(exclusive of any other argument, assertion or contention, including but not limited to any argument, assertion or contention made in regard to any dispute concerning whether Technology
constitutes IE Jointly Invented Research Technology), Codexis shall have the right, but not the obligation, to terminate the Codexis-Shell US License Agreement. 
 (v) In the event that IE or an Affiliate of IE asserts that no payment is due to Codexis, or that the payment due to Codexis is less than the amount calculated under the terms of the Codexis-Shell
US License Agreement, based on an express argument that Codexis does not own IE Jointly Invented Research Technology (exclusive of any other argument, assertion or contention, including but not limited to any argument, assertion or contention made
in regard to any dispute concerning whether Technology constitutes IE Jointly Invented Research Technology), IE agrees to assign, and hereby assigns, to Codexis all Patent Rights in IE Jointly Invented Research Technology, with Codexis’s and
IE’s rights to utilize such Patent Rights being subject to the terms and conditions of the IE Third Party Agreements, the Codexis-Shell US License Agremeent and this Agreement. 
 The Parties agree that the terms of Section 4.2(b)(i)-(v) above (A) are intended to ensure that Codexis receives economic benefits from Shell US in respect of IE Jointly Invented Research Technology
under the Codexis-Shell US License Agreement, and (B) notwithstanding anything in this Agreement to the contrary, shall not negatively affect the economic benefits to be received by IE from Shell Canada under the terms of the IE-Shell Canada
[*] Agreement in respect of IE Jointly Invented Research Technology that is the subject of the limited rights granted by IE to Codexis, as set forth in this Section 4.2(b). 
 (c) Codexis Rights Outside Fuels Field. 
 (i) IE Research Technology and IE Introduced Program Technology. Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the IE Third Party
Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense rights, under IE Research Technology and IE Introduced Program Technology, excluding, in each case, any
and all Patent Rights within such Technologies, for use outside the Fuels Field solely to the extent that such IE Research Technology and such IE Introduced Program Technology is necessary to (A) produce and/or to utilize any Biocatalyst
developed in the Program by use of Codexis Shuffling Technology or (B) develop, produce and/or utilize any Biocatalyst that is the subject of a Commercial Improvement that is disclosed to Shell and IE pursuant to Section 4.5. 
 (ii) IE Jointly Invented Research Technology. Subject to the terms and conditions of this Agreement, and subject to the terms
and conditions of the IE Third Party Agreements, IE hereby grants to Codexis and its Affiliates a non-exclusive, royalty- and payment-free license, with the right to grant sublicense rights, under IE Jointly Invented Research Technology with respect
to Blends developed in the Program for use outside the Fuels Field. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (iii) Jointly Owned Research Technology and Codexis Research Technology.
Subject to the terms and conditions of the IE Third Party Agreements, Codexis will have the right to utilize any and all Jointly Owned Research Technology and Codexis Research Technology outside the Fuels Field without any payment or royalty
obligation to any of the other Parties to this Agreement. 
 4.3 To Shell. 
 (a) Research Activities License. 
 (i) Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the Codexis Third Party Agreements, Codexis hereby grants to Shell and its Affiliates a
non-exclusive royalty- and payment-free license under (i) Codexis Introduced Program Technology, (ii) Codexis Background Technology, (iii) Codexis Research Technology, and (iv) Jointly Owned Research Technology, in each case,
only to conduct research activities under the Program during the Research Term. For purposes of clarification, no right or interest is granted by Codexis to Shell or any of its Affiliates under or with respect to Codexis Shuffling Technology.

 (ii) Subject to the terms and conditions of this Agreement, and subject to the terms and conditions of the IE Third
Party Agreements, IE hereby grants to Shell and its Affiliates a non-exclusive license under (i) IE Introduced Program Technology, (ii) IE Background Technology, (iii) IE Research Technology, and (iv) Jointly Owned Research
Technology, in each case, only to conduct research activities under the Program during the Research Term. 
 (b) Shell
Rights to Research Technology Controlled by Codexis. Any and all Codexis Research Technology and any and all of Codexis’ interest in Jointly Owned Research Technology shall be deemed licensed to Shell US as Program Patent Rights and Program
Licensed Technology under the Codexis-Shell US License Agreement. 
 (c) Shell Rights to Research Technology
Controlled by IE. Any and all IE Research Technology shall be deemed licensed to Shell Canada as IE Foreground Technology under the IE-Shell Canada [*] Agreement. 
 4.4 Restrictions Related to [*]. 
 (a) Codexis shall identify in writing any material as a [*], and any [*] as a [*], prior to disclosing such [*] for use in the Program. In the event that Codexis
determines, after disclosure of any [*] or any [*] without identifying such [*] or such [*] as a [*] or a [*], that a disclosed [*] or a disclosed [*] should have been identified as a
[*] or as a [*], as applicable, Codexis shall provide written notice thereof to IE and Shell and such [*] or [*], as the case may be, shall thereafter be deemed to be [*] or [*], as applicable;
provided that any use of any such [*] or any such [*] that does not comply

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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with terms and conditions of Sections 4.4(b) – (h) prior to the date of the notice described in this sentence shall not be a breach of this Agreement. 
 (b) Each of IE and Shell and their respective Affiliates shall not (i) make any derivative or any modification of any
[*], or any [*], or any [*] (including without limitation any [*]) incorporated in any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, or (ii) reverse engineer any
[*], or any [*], or any [*] incorporated in any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell. In addition, IE and Shell each acknowledges and agrees that, with respect to
any [*], any [*], and any [*] (including without limitation any [*]) incorporated into any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, the terms of this Agreement
are subordinate to the terms of the Codexis-[*] Agreement disclosed to IE and Shell. 
 (c) Each and every
sublicense agreement entered into by IE, Shell or any of their respective Affiliates that includes (i) any grant of rights relating to any [*], any [*], or any [*] (including without limitation any [*]) incorporated
into any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, or (ii) the transfer of any [*], any [*], or any [*] (including without limitation any [*]) incorporated
into any [*], in each case, that is transferred by Codexis, directly or indirectly, to IE or to Shell, shall (A) include an express prohibition preventing the (1) making of any derivative or modification of such [*], or such
[*] or such [*] incorporated in a [*], or (2) reverse engineering of such [*], or such [*] or such [*], incorporated in a [*], and (B) be subordinate to the terms of the Codexis-[*]
Agreement disclosed to IE and Shell. 
 (d) For purposes of this Section 4.4, “reverse engineering” means the
identification, modification, derivatization or other manipulation of genetic material, including for example any gene, portion of any gene, promoter, regulator, inducer, metabolic pathway, metabolomics, trancriptomics, secretion signal, vector,
plasmid, protein, compound, or other material. 
 (e) Notwithstanding anything to the contrary, IE and Shell each hereby
covenants and agrees, and shall cause its Affiliates (as defined in Section 1.1) and Third Party (as defined in Section 1.68) sublicensees (each, a “Covenanting Party”) to covenant and agree in a written agreement, not to commence,
aid, prosecute or cause to be commenced or prosecuted any legal action or other proceeding against [*] or any of its Affiliates (as defined in Schedule 4.4(e)), or any of its or their successors and assigns, licensees, sublicensees,
distributors or customers, wherein any Covenanting Party alleges infringement (direct or contributory) or inducement of infringement of any Patent (as defined in Schedule 4.4(e)) claiming any Improvement (as defined in Schedule 4.4(e)) that was made
by, or under the authority of, Codexis or any Covenanting Party during the Term (as defined in Schedule 4.4(e)). Codexis covenants and agrees that it will provide written notice to IE and to Shell of the expiration or termination of the
Codexis-[*] Agreement promptly after the effective date of such expiration or termination. The assertion of any such Patent by a Covenanting Party against any Affiliate (as defined in

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Schedule 4.4(e)) of [*] or any licensee, sublicensee, distributor or customer of [*] or any of its Affiliates (as defined in Schedule 4.4(e)) (each of the foregoing, a “[*]
Party”) that has not been identified to IE or to Shell, as applicable, by Codexis in writing shall not be deemed to breach the covenant set forth in this Section 4.4(e); provided that the applicable Covenanting Party ceases such
assertion, and any and all legal proceedings relating thereto, within fifteen (15) days after written notice from Codexis identifying such Third Party (as defined in Section 1.68) as a [*] Party. Codexis agrees to provide to IE and Shell
the identities of any [*] Parties known to Codexis. 
 (f) IE and Shell each (i) acknowledges and agrees, and
shall cause each of their respective Affiliates (as defined in Section 1.1) and Third Party (as defined in Section 1.68) licensees and sublicensees to acknowledge and agree, that [*] is and shall be a third party beneficiary of the covenants
set forth in this Section 4.4, and (ii) agrees, and shall cause each of their respective Affiliates (as defined in Section 1.1) and Third Party (as defined in Section 1.68) licensees and sublicensees to agree, (A) not to assign, sell or
otherwise transfer any Patent (as defined in Schedule 4.4(e)) covered by the covenants and agreements set forth in this Section 4.4 to a Third Party (as defined in Section 1.68) unless such Third Party agrees to be bound by the covenants and
agreements set forth in this Section 4.4, and (B) that any such sale, assignment or transfer in contravention of the requirement set forth in this Section 4.4(f) shall be deemed void and ineffective. 
 (g) In the event that [*] requests that a copy of this Agreement, or any sublicense agreement entered into by IE or its
Affiliates, be provided to an independent law firm pursuant to Section [*] of the Codexis-[*] Agreement, Codexis shall promptly notify IE in writing. Codexis agrees not to use any law firm for this purpose that is objected to by IE
that IE identifies in writing within two (2) business days of receipt of such notification from Codexis, provided that in such notice, IE provides a reasonable basis for each such objection. 
 (h) In the event that Codexis receives notice from [*] that [*] believes that IE or any Affiliate or sublicensee of IE
has used or is using any [*], or any [*], in a manner that is inconsistent with the terms of the Codexis-[*] Agreement, Codexis shall promptly notify IE. Thereafter, Codexis and IE shall mutually cooperate to resolve [*]
concerns. 
 4.5 Grant Back. Subject to the terms and conditions of this Agreement, the Codexis Third Party Agreements
and the Codexis-Shell US License Agreement, Codexis shall disclose to Shell and IE in writing any material improvement that qualifies as a Commercial Improvement to any and all Biocatalysts that are derived from Research Technology. Codexis shall
make such disclosures at Oversight Committee meetings and, in the event that the Oversight Committee is disbanded or ceases to meet as described in Section 2.2(c), at least semi-annually. Codexis and Shell hereby agree that any Commercial
Improvement to any such Biocatalysts shall be deemed to be Program Patent Rights and Program Licensed Technology for purposes of the Codexis-Shell US License

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Agreement; provided that, if any such Commercial Improvement was developed after the term of the Codexis-Shell US Research Agreement, Shell US’s license rights with respect to such
Commercial Improvement shall be non-exclusive. Any Biocatalyst subject to the license grant in this Section 4.5 will be deemed to be a Codexis Biocatalyst; provided that the time period set forth in Section 4.8(c)(A) for such Codexis Biocatalyst
shall be the [*] year anniversary of the date of disclosure of such Codexis Biocatalyst pursuant to this Section 4.5. 
 4.6 Codexis as Permitted Third Party. IE shall approve Codexis as a Permitted Third Party (under Section 2.2(d) of the IE-Shell Canada [*] Agreement) to manufacture Biocatalysts developed using IE Background Technology,
IE Introduced Program Technology or IE Research Technology (other than Biocatalysts that are derived from Biocatalysts that originated as IE Introduced Program Technology). 
 4.7 Right of First Negotiation – Biocatalyst Manufacturing. 
 (a) Codexis Right of First Negotiation. In the event that any Out-Sourcing Party seeks to out-source the manufacture of any
particular Biocatalyst introduced into the Program by Codexis or developed during the Research Term using Codexis Shuffling Technology (other than a Biocatalyst that is derived from a Biocatalyst that originated as IE Introduced Program Technology),
for use in a facility where Shell or an Affiliate of Shell, individually or collectively, is not [*] in such facility or [*], the Out-Sourcing Party, for a [*] year period following the expiration or termination of the Research
Term, shall provide written notice to Codexis and Codexis shall have a right of first negotiation for the manufacture of such particular Biocatalyst, under the terms and conditions of a separate Biocatalyst supply agreement which will be negotiated.
For purposes of this Section 4.7(a), “Out-Sourcing Party” shall mean IE or any Affiliate of IE (other than Shell or any Affiliate of Shell), or any Third Party that has been granted license rights, directly or indirectly, from IE or
any Affiliate of IE (other than Shell or an Affiliate of Shell). The date of Codexis’ receipt of such written notice from the Out-Sourcing Party will be the start of a ninety (90) day period during which, upon Codexis’ election, the
terms and conditions of such supply agreement will be negotiated regarding the Biocatalyst identified in such written notice. If mutually acceptable terms and conditions have not been agreed prior to the end of such ninety (90) day period, the
Out-Sourcing Party will be free to negotiate with Third Parties for the manufacture of such particular Biocatalyst, but may not enter into any agreement for such manufacture under terms and conditions that are less favorable to the Out-Sourcing
Party than the terms and conditions last offered to Codexis; provided, however, that, for the avoidance of doubt, such terms and conditions will include all business considerations as taken from the Out-Sourcing Party’s
perspective. 
 (b) No Change to Existing Rights. For purposes of clarification, except as expressly set forth in
this Section 4.7, nothing in this Agreement is intended to modify Codexis’ rights under Section 2.4 of the Codexis-Shell US License Agreement. In particular, without limiting the generality of the foregoing, in the event that IE or its

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Affiliates or its licensees, as applicable, desires to outsource the manufacture of a Biocatalyst developed through the use of Codexis Shuffling Technology (other than Biocatalysts that are
derived from Biocatalysts that originated as IE Introduced Program Technology) in any facility other than a facility described in Section 4.7(a), Codexis’ rights under Section 2.4 of the Codexis-Shell US License Agreement shall apply with
respect to such outsourcing. 
 (c) Exception. In the event that Shell, or an Affiliate of Shell, [*] either
(i) the power to [*], or (ii) the [*], Codexis’ right of first negotiation under Section 4.7(a) will be governed solely by the provisions of Section 2.4 of the Codexis-Shell US License Agreement. Notwithstanding
anything to the contrary in the preceding sentence, for so long as Iogen Corporation is a licensee of IE and not [*], the rights of Iogen Corporation and its licensees, other than Shell and Affiliates of Shell, will continue to be governed by
the provisions of Section 4.7(a). 
 4.8 Derivatives of Codexis Program Technology. 
 (a) IE covenants and agrees that it and its Affiliates, and its and its Affiliates’ licensees (other than Shell and its
Affiliates), shall not modify or otherwise create, by use of any recombinant or other directed mutagenesis technology, any derivative of any Biocatalyst that originates from (i) Codexis Introduced Program Technology, (ii) Research
Technology developed by use of Codexis Shuffling Technology (other than Biocatalysts that originated from IE), or (iii) IE Introduced Program Technology and/or IE Background Technology incorporated into any [*] or combined with any
[*] (a Biocatalyst originating from any of (i), (ii) and (iii) is referred to as a “Codexis Biocatalyst”). For purposes of clarification, the rights of Shell and its Affiliates with respect to modification or creation
of any derivative of a Codexis Biocatalyst are governed by Section 9.4 of the Codexis-Shell US Research Agreement and Section 7.3 of the Codexis-Shell US License Agreement. Notwithstanding the first sentence of this Section 4.8(a), in the
event that (A) IE or any Affiliate of IE requests (whether such request comes directly from IE or an Affiliate of IE, or from Shell on behalf of IE or an Affiliate of IE) that Codexis modify or otherwise create a derivative of any Codexis
Biocatalyst in accordance with the provisions of Section 9.4 of the Codexis-Shell US Research Agreement and Section 7.3 of the Codexis-Shell US License Agreement, and (B) Codexis is unwilling or unable to perform such modification or
otherwise create such a derivative under terms that are (1) consistent with or below the full time equivalent (FTE) rates Codexis has most recently agreed to charge Shell for comparable work, including without limitation any calendar- and/or
inflation-based escalators, and (2) commercially reasonable with respect to the market-based, good faith expectations of IE or any Affiliate of IE regarding resource commitment requirements, including for example FTE person hours and equipment
time required, then Codexis shall so notify Shell US, IE or the Affiliate of IE, as applicable, in writing and IE or the Affiliate of IE, as the case may be, may modify or otherwise create the derivative of such Codexis Biocatalyst requested by
Shell US, IE or the Affiliate of IE, as applicable; provided, however, that IE or the Affiliate of IE, as the case may be, must modify or otherwise create such derivative

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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using its own, internal resources, and may not engage or otherwise use a Third Party or an independent contractor to modify or otherwise create such derivative; provided further
that such modification or creation of derivatives of Codexis Biocatalysts is not inconsistent with the rights, obligations and restrictions set forth in the Codexis Third Party Agreements; provided further that, in the event that Shell
or an Affiliate of Shell [*], then the rights of IE and any Affiliate of IE, as the case may be, to modify or create any derivative of any Codexis Biocatalyst will be governed solely by the provisions of Section 9.4 of the Codexis-Shell
US Research Agreement and Section 7.3 of the Codexis-Shell US License Agreement as applied to IE and any Affiliate of IE, mutatis mutandis. For purposes of clarification, notwithstanding the above, IE, any Affiliate of IE, and any
sublicensee of IE or an Affiliate of IE (other than Shell and its Affiliates) may make derivatives from any Biocatalyst that originated solely from an IE Biocatalyst, including without limitation Biocatalysts jointly developed by IE and Codexis;
provided that such Biocatalyst is not incorporated into any [*] or combined with any [*]. 
 (b) In
the event that IE modifies or otherwise creates any derivative of any Codexis Biocatalyst in accordance with the terms of Section 4.8(a), IE agrees to grant, and hereby grants to Codexis, subject to the terms and conditions of the IE Third Party
Agreements, a license limited to the right to grant sublicense rights solely to Shell US and its Affiliates under intellectual property Controlled by IE directed to such modified or otherwise created Codexis Biocatalyst to manufacture, have
manufactured, use, sell, offer for sale and import products within the Fuels Field, on a worldwide basis; such limited license neither granting to Codexis, nor permitting Codexis to reserve for Codexis, any right or license to manufacture, have
manufactured, use, sell, offer for sale or import any product under such intellectual property, within the Fuels Field, or to otherwise utilize or practice any such intellectual property within the Fuels Field. Codexis and Shell US each acknowledge
and agree that the sublicense rights received by Shell under this Section 4.8(b) that are the subject of the limited license granted by IE to Codexis pursuant to this Section 4.8(b) shall be deemed to be Program Patent Rights and Program Licensed
Technology (as defined in the Codexis-Shell US License Agreement), as applicable. In addition, IE agrees that the following terms shall apply to the intellectual property that is the subject of the license granted in this Section 4.8(b): (i) IE
covenants and agrees not to grant any right or license to Shell, or to an Affiliate of Shell, under such intellectual property in the Fuels Field, (ii) IE covenants and agrees that, in the event Shell or an Affiliate of Shell [*] either
(A) the power to [*], or (B) the [*], IE shall not, itself, utilize such intellectual property to make, use or sell Biocatalysts for any commercial purpose; provided that [*] shall have no impact on the rights of IE
with respect to the granting of rights to Third Parties to manufacture, have manufactured, use, sell, offer for sale and import any such Biocatalyst in the Fuels Field in effect immediately prior to [*], and (iii) in the event that IE,
or an Affiliate of IE, asserts that no payment is due to Codexis, or that the payment due to Codexis is less than the amount calculated under the terms of the Codexis-Shell US License Agreement based on an express argument that Codexis does not own
such intellectual property (exclusive of any other argument, assertion or contention, including but not limited to any argument, assertion or contention made in

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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regard to any dispute concerning whether such intellectual property is properly subject to this section), IE shall assign such intellectual property to Codexis. 
 (c) Notwithstanding the terms of Section 4.8(a), provided that Shell or an Affiliate of Shell has not [*] either (i) the
power to [*], or (ii) the [*], then IE shall have a right, after the later of (A) the [*] year anniversary of the expiration or termination of the Codexis-Shell US Research Agreement and (B) the [*] year
anniversary of the Effective Date, to modify or otherwise create derivatives of Codexis Biocatalysts; provided, however, that such modification or creation of derivatives of Codexis Biocatalysts is not inconsistent with the rights,
obligations and restrictions set forth in the Codexis Third Party Agreements. 
 (d) Notwithstanding anything in this
Agreement to the contrary, the limitations on IE regarding the modification or creation of any derivative of any Biocatalyst, as set forth in this Section 4.8, shall not reduce IE’s right to modify or create any such derivative to less than the
rights enjoyed by an unlicensed Third Party to modify or create any such derivative under Canadian law; provided, however that IE will not use any Codexis Introduced Program Technology, Codexis Background Technology or Research Technology developed
by use of Codexis Shuffling Technology that is Codexis Confidential Information; provided further that IE will not use any materials provided by Codexis, directly or indirectly, to IE or any Affiliate of IE; provided further that to the extent that
the practice of such derivative or modification requires the use of any Codexis Introduced Program Technology, Codexis Background Technology or Research Technology developed by use of Codexis Shuffling Technology that is the subject of a license
grant to IE, IE will not use any such modification or derivative for any commercial purpose without the prior written consent of Codexis. 
 4.9 No Other Rights. Except as expressly provided in this Agreement, no right, title or interest is granted by any Party to any other Party, by implication or otherwise. Further, all licenses and
other rights provided herein are subject and subordinate to any and all prior Third Party Agreements containing terms either overlapping or in conflict therewith. 
 ARTICLE 5 
 PAYMENTS 
 5.1 Royalties – Fuels Field. The Parties acknowledge and agree that the Program to be conducted under the terms of this
Agreement is for the purpose of coordinating the activities of, and to optimize the benefits to each of, Codexis, IE and Shell under the Shell Agreements. For purposes of clarification, the economic benefit to be received as a consequence of
conducting the Program is as follows: 
 (a) By Codexis From Shell. Shell shall make payments to Codexis pursuant to and
in accordance with the terms of the Codexis-Shell US License Agreement for exercise by Shell, Affiliates of Shell and licensees of Shell, including without

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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limitation IE, Affiliates of IE and sublicensees of IE, of license rights with respect to Codexis Introduced Program Technology, Codexis Research Technology, Jointly Owned Research Technology and
IE Jointly Invented Research Technology under the IE-Shell Canada [*] Agreement. 
 (b) By IE From Shell. Shell
shall make payments to IE pursuant to and in accordance with the terms of the IE-Shell Canada [*] Agreement for Shell Canada’s exercise of license rights with respect to IE Solely Invented Research Technology, IE Jointly Invented
Research Technology and Jointly Owned Research Technology under that agreement. 
 (c) By Codexis From IE. 
 (i) In the event that IE, or its Affiliates or sublicensees, uses IE Jointly Invented Research Technology, but does not use any
Codexis Introduced Program Technology or any Codexis Research Technology, in the Fuels Field, IE shall pay to Codexis any and all payments due to Codexis pursuant to Schedule 5.1(c). 
 (ii) In the event that the Codexis-Shell US License Agreement terminates, and Codexis grants to IE a non-exclusive license under
Codexis Introduced Program Technology and Codexis Research Technology, as further described in Section 10.6(a), and IE, or its Affiliates or sublicensees, uses such Codexis Introduced Program Technology, and/or such Codexis Research Technology, in
the Fuels Field, IE shall pay to Codexis any and all payments due to Codexis pursuant to Schedule 5.1(c). 
 (iii)
Notwithstanding anything in this Agreement to the contrary, apart from royalties owed under Codexis Third Party Agreements, no more than one royalty payment shall be due Codexis, either directly under this Agreement, or indirectly through the
Codexis-Shell US License Agreement, the IE-Shell Canada [*] Agreement, this Agreement and the license grant set forth in Section 10.6(a) of this Agreement, based on the sale or transfer, by IE, its Affiliates and sublicensees, of any product
under any Technology licensed directly or indirectly under the Codexis-Shell US License Agreement, the IE-Shell Canada [*] Agreement, this Agreement and the license grant set forth in Section 10.6(a) of this Agreement 
 5.2 Payments Due Under Third Party Agreements. In the event that any Third Party is due any payment under any Third Party Agreement
as a result of the exercise of rights granted to a Party under the terms and conditions of this Agreement, such Party shall be responsible for any and all such payments in accordance with the terms and conditions of such applicable Third Party
Agreement. 
 5.3 Mode of Payment. All payments made pursuant to Schedule 5.1(c) and/or for use of any Technology
licensed to Codexis under the Codexis-[*] Agreement are due within thirty (30) days after the end of each calendar quarter. Such payments shall be made by direct wire transfer of United States Dollars in immediately available funds in
the requisite amount to such bank account as the other Party may from time to

  
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information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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time designate by written notice. Payments will be free and clear of any taxes (and net of any withholding and other taxes imposed on the payee), fees or charges, to the extent applicable.
IE’s payment obligations under the Codexis-[*] Agreement shall be limited to those payment obligations disclosed to IE in the redacted Codexis-[*] Agreement. 
 5.4 Reporting and Audit Requirements. IE shall comply with the reporting requirements and audit rights imposed upon Codexis in the
Codex-[*] Agreement with respect to [*] and [*], and upon Shell in the Codexis-Shell US License Agreement, as applicable. Upon notice, IE and Codexis each shall comply with the reporting requirements and audit rights imposed in
other Third Party Agreements as may be applicable. 
 ARTICLE 6 
 PATENT PROSECUTION AND MAINTENANCE 
 6.1
Notification; Coordination of Patent Filings. In addition to the responsibilities set forth in Section 2.2(a)(x), the Patent Committee will have responsibility for reviewing inventorship for inventions within the Research Technology, as
determined under U.S. patent law, in accordance with the terms of this Article 6. Prior to or upon filing any patent application with respect to any invention within the Research Technology, each Party shall provide written notice to each of the
other Parties. Such notice shall include, without limitation, a description of the invention in detail reasonably adequate to characterize such invention and the inventors of such invention. In addition, within thirty (30) days after the end of
each calendar quarter, each Party shall provide the other Parties with a report detailing patent applications filed and patent applications that it plans to file in the upcoming calendar quarter, in each case with respect to any Research Technology,
in order to permit the Patent Committee to coordinate the filing of patent applications and other related intellectual property matters regarding any invention made during the Research Term in order to maximize the benefit to the Parties.

 6.2 Filing, Prosecution and Maintenance of Codexis Research Technology. 
 (a) With respect to any Codexis Research Technology, Codexis shall have the right, but not an obligation, to: 
 (i) prepare, file and prosecute patent applications covering such Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent
Rights for such Technology; and 
 (iii) maintain in force any such Patent Rights, including by filing all necessary
papers and paying any required fees. 
  
 [*] Certain information
in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (b) Without prejudice to the rights of IE or Shell under law, it is understood and
agreed that Codexis shall have the right, but not the obligation, to initiate and prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may limit the
ability of the Parties to exploit any Codexis Research Technology. 
 6.3 Filing, Prosecution and Maintenance of IE Research
Technology. 
 (a) With respect to any IE Research Technology, IE shall have the right, but not an obligation, to:

 (i) prepare, file and prosecute patent applications covering such Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent
Rights for such Technology; and 
 (iii) maintain in force any such Patent Rights, including by filing all necessary
papers and paying any required fees. 
 (b) Without prejudice to the rights of Codexis or Shell under law, it is
understood and agreed that IE shall have the right, but not the obligation, to initiate and prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may
limit the ability of the Parties to exploit any IE Research Technology. 
 6.4 Filing, Prosecution and Maintenance of Jointly
Owned Research Technology. 
 (a) With respect to any Jointly Owned Research Technology, IE and Codexis shall, upon
the request of either, determine, after consideration of recommendations of the Patent Committee and the Oversight Committee, whether Codexis or IE shall undertake the matters described in this Section 6.4 and, thereafter, such designated Party
shall discuss with the other Party and, after such discussion, consider the comments and suggestions of such other Party and undertake the following matters: 
 (i) prepare, file and prosecute patent applications covering such Jointly Owned Research Technology; 
 (ii) respond to oppositions, nullity actions, re-examinations, revocation actions and similar proceedings filed against Patent Rights for such Jointly Owned Research Technology; and 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (iii) maintain in force any such Patent Rights, including by filing all necessary
papers and paying any required fees. 
 (b) The Party designated by the Parties to undertake work under this Section 6.4
shall use reasonable commercial efforts to conduct the prosecution and, after issuance, to maintain Patent Rights for such Jointly Owned Research Technology, in a reasonable and diligent manner. 
 (c) Without prejudice to the rights of IE or Codexis under law, it is understood and agreed that Codexis, IE or Shell shall
individually have the right, but not the obligation, to initiate and prosecute oppositions, nullity actions, re-examinations, revocation actions and similar proceedings against Patent Rights owned by Third Parties that may limit the ability of the
Parties to exploit any Jointly Owned Research Technology. In the event that any Party elects to exercise its rights under this Section 6.4(c), such Party shall provide written notice to the other Parties and shall keep the other Parties advised of
the status of the matter not less than semi-annually or as otherwise mutually agreed. 
 (d) Without prejudice to the
rights of IE or Codexis under law, it is understood and agreed that in the event that the Party designated by Codexis and IE to undertake the matters described in this Section 6.4, as set forth in Section 6.4(a), decides not to further prosecute or
maintain any Patent Right covering Jointly Owned Research Technology, such designated Party will first notify the other Party and give such other Party the option of prosecuting and maintaining such Patent Right covering Jointly Owned Research
Technology. In such a case, the initially designated Party shall make reasonable commercial efforts to provide such notice not less than sixty (60) days in advance of any pending administrative date and the other Party shall exercise such
option within thirty (30) days after receipt of notice. 
 6.5 Assistance.  
 (a) Each of Codexis and Shell shall cooperate fully with, and take all necessary actions reasonably requested by IE in connection
with the preparation, prosecution and maintenance of any Patent Right within the IE Research Technology. 
 (b) Each of
IE and Shell shall cooperate fully with, and take all necessary actions reasonably requested by Codexis in connection with the preparation, prosecution and maintenance of any Patent Right within the Codexis Research Technology. 
 (c) Each of IE, Codexis and Shell shall cooperate fully with, and take all necessary actions reasonably requested by Codexis or IE,
as the case may be, in connection with the preparation, prosecution and maintenance of any Patent Right within the scope of Section 6.4. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 6.6 Reimbursement of Costs for Filing, Prosecuting and Maintaining Patent Rights. 

 (a) As between Codexis and IE, Codexis shall pay any and all costs and expenses in connection with the preparation,
filing, prosecution and maintenance of Patent Rights within the Codexis Research Technology. 
 (b) As between Codexis
and IE, IE shall pay any and all costs and expenses in connection with the preparation, filing, prosecution and maintenance of Patent Rights within the IE Research Technology. 
 (c) As between Codexis and IE, Codexis and IE shall jointly and equally pay any and all reasonable costs and expenses in connection
with the preparation, filing, prosecution and maintenance of Patent Rights within the Jointly Owned Research Technology. 
 6.7 Enforcement of Licensed Patents. 
 (a) In the event that Codexis reasonably believes that any Patent
Right within the IE Research Technology is being infringed by a Third Party, Codexis shall [*]. As between the Parties, IE shall have the sole right to enforce the Patent Rights within the IE Research Technology with respect to such
infringement, or to defend any declaratory judgment action with respect thereto, at IE’s cost and expense. 
 (b) In
the event that IE reasonably believes that any Patent Right within the Codexis Research Technology is being infringed by a Third Party, [*]. As between the Parties, Codexis shall have the sole right to enforce the Patent Rights within the
Codexis Research Technology with respect to such infringement, or to defend any declaratory judgment action with respect thereto, at Codexis’ cost and expense. 
 (c) In the event that IE or Codexis reasonably believes that any Patent Right within the Jointly Owned Research Technology is being infringed by a Third Party, then the knowledgeable Party
[*]. The Parties shall discuss and mutually agree upon any actions to be taken to remedy such infringement, or to defend any declaratory judgment action with respect thereto. 
 6.8 Cooperation. Each Party agrees to cooperate with the other Parties as reasonably requested by such other Parties, at such other
Parties’ expense, in connection with the activities undertaken pursuant to this Article 6. 
 6.9 Coordination with
Shell Agreements. The Parties acknowledge and agree that nothing in this Article 6 is intended to modify any of the rights and obligations of any Party under any of the Shell Agreements. 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 ARTICLE 7 
 CONFIDENTIALITY 
 7.1 Confidentiality
Obligations. The Parties agree that, during the Term and for ten (10) years thereafter, all Confidential Information disclosed by one Party to the other Party(ies) hereunder shall be received and maintained by the receiving Party and its
Affiliates in strict confidence, shall not be used for any purpose other than the purposes expressly permitted by this Agreement, and shall not be disclosed to any Third Party. The obligations of confidentiality and non-use set forth in the first
sentence of this Section 7.1 will not apply to any information to the extent that it can be established by the receiving Party that such information: 
 (a) was already known to the receiving Party or its Affiliates at the time of disclosure without restriction as to confidentiality or use, as evidenced by records of the receiving Party and its
Affiliates; 
 (b) was generally available to the public or was otherwise part of the public domain at the time of its
disclosure to the receiving Party or its Affiliates; 
 (c) became generally available to the public or otherwise becomes
part of the public domain after its disclosure and other than through any fault of the receiving Party or its Affiliates in breach of this Agreement; 
 (d) was subsequently lawfully disclosed to the receiving Party or its Affiliates by a Third Party without restriction as to confidentiality or use, and other than in contravention of a
confidentiality obligation of such Third Party, whether based on contract or a fiduciary or other similar obligation, to the disclosing Party or its Affiliates; or 
 (e) is independently developed by employees, consultants and/or independent contractors of the receiving Party or its Affiliates without reliance upon or access to Confidential Information of the
disclosing Party or its Affiliates, as evidenced by records of the receiving Party and its Affiliates. 
 Each Party represents and warrants
that it has or will obtain written agreements from each of its employees, consultants and independent contractors who perform work on the Program or otherwise have a need to know the other Party’s Confidential Information, which agreements will
obligate such persons to obligations of confidentiality and non-use no less restrictive than those assumed by the Parties herein, and to assign to such Party all inventions made by such persons during the course of performing any tasks associated
with the Program. Further, each Party represents and warrants that those of its employees which perform work on the Program or otherwise have a need to know the other Party’s Confidential Information are bound by obligations of confidentiality
and non-use to the employer Party. Each Party may disclose Confidential Information of the other Party(ies) to such Party’s Affiliates, provided that any such Affiliate agrees prior to such disclosure

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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to be bound by obligations of confidentiality and non-use no less restrictive than those assumed by such disclosing Party herein. 
 Notwithstanding the foregoing, a Party may disclose the terms of this Agreement and information relating to the Program in confidence solely on a need-to-know basis to potential or actual collaborators,
partners, or licensees (including without limitation potential sublicensees), who prior to disclosure must agree to be bound by obligations of confidentiality and non-use no less restrictive than the obligations set forth in this Article 7; and/or
in confidence to potential or actual investment bankers, advisors (including without limitation financial advisors and accountants), investors, lenders, acquirers, merger partners, or other potential financial or strategic partners, and their
attorneys and agents, on a need to know basis; provided, however, that the receiving Party shall remain responsible for any failure by any Third Party who receives Confidential Information pursuant to this Section 7.1 to treat such
Confidential Information as required under this Article 7. 
 Notwithstanding this Article 7, the receiving Party may disclose any Confidential
Information of the disclosing Party that the receiving Party is required to disclose under applicable laws or regulations or an order by a court or other regulatory body having competent jurisdiction; provided, however, that except
where impracticable, the receiving Party shall give the disclosing Party reasonable advance notice of such disclosure requirement (which shall include a copy of any applicable subpoena or order) and shall afford the disclosing Party a reasonable
opportunity to oppose, limit or secure confidential treatment for such required disclosure. In the event of any such required disclosure, the receiving Party shall disclose only that portion of the Confidential Information of the disclosing Party
that the receiving Party is legally required to disclose and, in the event a protective order is obtained by the disclosing Party, nothing in this Article 7 shall be construed to authorize the receiving Party to use or disclose any disclosing
Party Confidential Information to parties other than such court or regulatory body or beyond the scope of the protective order. 
 7.2 Harmonization with Licenses. The obligations of confidentiality and non-use set forth in this Article 7 shall not be construed as limiting the right of any Party to exercise any license granted it under this Agreement or the
Shell Agreements. 
 7.3 Publicity. Except to the extent required by law or regulation, no Party shall make any public
announcements concerning this Agreement or the terms hereof without the prior written consent of the other Parties, and the Parties shall agree on the content and timing of any such public announcement. This Agreement does not give any Party the
right to use the trademarks of any other Party. 
  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 ARTICLE 8 
 REPRESENTATIONS AND WARRANTIES 
 8.1
Representations by Codexis. Codexis represents and warrants that, as of the Effective Date: (a) it is duly organized and validly existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to
enter into this Agreement; (b) it is in good standing with all relevant governmental authorities; (c) it has taken all corporate actions necessary to authorize the execution and delivery of this Agreement and the performance of its
obligations under this Agreement; (d) the performance of its obligations under this Agreement, including without limitation, the grant of any rights under the terms of this Agreement, does not conflict with, and will not constitute a default
under, any of its charter documents, any agreement, commitment or arrangement with any Third Party, or any court order; and (e) it has provided redacted versions of each of the Codexis Third Party Agreements, and none of the information
redacted from any of the Codexis Third Party Agreements is necessary for IE or Shell to comply with obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any Codexis Third Party
Agreement for which Codexis may grant rights to IE or Shell under this Agreement. In addition, Codexis represents, warrants and covenants that (A) it will provide a redacted version of each of Codexis Third Party Agreements added to
Schedule 1.69 after the Effective Date, and none of the information redacted from any of such Codexis Third Party Agreements will be necessary for IE or Shell to comply with obligations under the terms and conditions of (1) this Agreement
or (2) the sublicense requirements under any such Codexis Third Party Agreement for which Codexis may grant rights to IE or Shell under this Agreement; (B) as of the date that Codexis discloses any Codexis Introduced Program Technology or
Codexis Background Technology for use in the Program, it has the right to make the grants set forth in this Agreement with respect to such Technology; and (C) as of the date that Codexis discloses any Codexis Introduced Program Technology or
Codexis Background Technology for use in the Program, it is not aware of, and has not been served with, any suit or action pending in any court against Codexis, alleging patent infringement based on the use of such Codexis Introduced Program
Technology or Codexis Background Technology, as the case may be, by Codexis or any Affiliate or licensee of Codexis, and Codexis has not received any communications or notice alleging any such patent infringement. 
 8.2 Representations by IE. IE represents and warrants that, as of the Effective Date: (a) it is duly organized and validly
existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into this Agreement; (b) it is in good standing with all relevant governmental authorities; (c) it has taken all corporate
actions necessary to authorize the execution and delivery of this Agreement and the performance of its obligations under this Agreement; (d) the performance of its obligations under this Agreement, including without limitation, the grant of any
rights under the terms of this Agreement, does not conflict with, and will not constitute a default under, any of its charter documents, any agreement, commitment or

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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arrangement with any Third Party, or any court order; (e) it has provided redacted versions of each of the IE Third Party Agreements, and none of the information redacted from any of the IE
Third Party Agreements is necessary for Codexis or Shell to comply with obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any IE Third Party Agreement for which IE may grant rights
to Codexis or Shell under this Agreement. In addition, IE represents, warrants and covenants that (A) each employee of Iogen Bio-Products Corporation is under an obligation to (1) assign to Iogen Bio-Products Corporation, or to IE, the
entire right, title and interest in, to and under any and all intellectual property generated pursuant to the terms of this Agreement, and (2) maintain, not use and not disclose Confidential Information of Codexis and/or Shell in accordance
with terms and conditions no less restrictive than as set forth in Article 7; (B) Iogen Bio-Products Corporation is under an obligation to assign to IE its entire right, title and interest in, to and under any and all intellectual property
generated pursuant to the terms of this Agreement, (C) it will provide a redacted version of each of IE Third Party Agreements added to Schedule 1.69 after the Effective Date, and none of the information redacted from any of such IE Third Party
Agreements will be necessary for Codexis or Shell to comply with obligations under the terms and conditions of (1) this Agreement or (2) the sublicense requirements under any such IE Third Party Agreement for which IE may grant rights to
Codexis or Shell under this Agreement; (D) as of the date that IE discloses any IE Introduced Program Technology or IE Background Technology for use in the Program, it has the right to make the grants set forth in this Agreement with respect to
such Technology; and (E) as of the date that IE discloses any IE Introduced Program Technology or IE Background Technology for use in the Program, it is not aware of, and has not been served with, any suit or action pending in any court against
IE, alleging patent infringement based on the use of such IE Introduced Program Technology or IE Background Technology, as the case may be, by IE or any Affiliate or licensee of IE, and IE has not received any communications or notice alleging any
such patent infringement. 
 8.3 Representations by Shell. Shell represents and warrants that, as of the Effective Date:
(a) it is duly organized and validly existing under the laws of the jurisdiction of its incorporation and has full corporate power and authority to enter into this Agreement; (b) it is in good standing with all relevant governmental
authorities; (c) it has taken all corporate actions necessary to authorize the execution and delivery of this Agreement and the performance of its obligations under this Agreement; (d) the performance of its obligations under this
Agreement, including without limitation, the grant of any rights under the terms of this Agreement, does not conflict with, and will not constitute a default under, any of its charter documents, any agreement, commitment or arrangement with any
Third Party, or any court order; and (e) it has provided complete, but redacted, versions of each of the Shell Third Party Agreements, and none of the information redacted from any of the Shell Third Party Agreements is necessary for Codexis or
IE to comply with obligations under the terms and conditions of (i) this Agreement or (ii) the sublicense requirements under any Shell Third Party Agreement for which Shell may grant rights to Codexis or IE under this Agreement. In
addition, Shell represents, warrants and covenants that it will provide a complete, but redacted, version

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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of each of Shell Third Party Agreements added to Schedule 1.69 after the Effective Date, and none of the information redacted from any of such Shell Third Party Agreements will be necessary for
Codexis or IE to comply with obligations under the terms and conditions of (A) this Agreement or (B) the sublicense requirements under any such Shell Third Party Agreement for which Shell may grant rights to Codexis or IE under this
Agreement. 
 8.4 Disclaimer of Warranties. EXCEPT AS SPECIFICALLY SET FORTH IN SECTION 8.1, 8.2 AND 8.3, NONE OF THE
PARTIES MAKES ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR USE, NON-INFRINGEMENT, AND ANY OTHER STATUTORY WARRANTY. 
 ARTICLE 9 
 INDEMNIFICATION 
 9.1 Employees and Property. Each Party (each, the “Indemnitor”) shall
indemnify, defend and hold the other Parties and their Affiliates and their respective agents, employees, consultants, officers and directors (the “Indemnitees”) harmless from and against any and all liability, damage, loss, cost or
expense (including without limitation reasonable attorneys’ fees) (collectively “Losses”), arising from any claims or suits arising from (a) bodily injuries, including without limitation fatal injury or disease, to the
Indemnitor’s employees, and (b) damage to tangible, real or personal property of Indemnitor and/or Indemnitor’s employees arising from or in connection with the performance of this Agreement; except, in any such case, for Losses to
the extent, and only to the extent, reasonably attributable to the applicable Indemnitee having committed an act or acts of gross negligence, recklessness or willful misconduct. 
 9.2 Third Parties. 
 (a) Indemnification by Codexis. Codexis shall indemnify, defend and hold the IE Indemnitees and the Shell Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising from:

 (i) breach by Codexis of any of its representations, warranties or covenants under this Agreement; or 
 (ii) Codexis’ failure to perform its obligations under this Agreement; or 
 (iii) any action or non-action by any IE Indemnitees alleged to be inconsistent with any Third Party Agreement listed under the
“Codexis” heading on Schedule 1.69, where such action or non-action is not inconsistent with the terms of this Agreement; or 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 (iv) the negligence or willful misconduct of Codexis or its Affiliates, and its or
their directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of Codexis shall
apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by IE, or by Shell, as applicable, of its representations, warranties or covenants set forth in this Agreement or the IE Indemnitees, or the
Shell Indemnitees, as applicable, having committed an act or acts of gross negligence, recklessness or willful misconduct. 
 (b) Indemnification by IE. IE shall indemnify, defend and hold the Codexis Indemnitees and the Shell Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising from: 
 (i) breach by IE of any of its representations, warranties or covenants under this Agreement; or 
 (ii) IE’s failure to perform its obligations under this Agreement; or 
 (iii) any action or non-action by any Codexis Indemnitees alleged to be inconsistent with any Third Party Agreement listed under the
“IE” heading on Schedule 1.69, where such action or non-action is not inconsistent with the terms of this Agreement; or 
 (iv) the negligence or willful misconduct of IE or its Affiliates, and its or their directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of IE shall apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by Codexis, or by Shell, as
applicable, of its representations, warranties or covenants set forth in this Agreement or the Codexis Indemnitees, or the Shell Indemnitees, as applicable, having committed an act or acts of gross negligence, recklessness or willful misconduct.

 (c) Indemnification by Shell. Shell shall indemnify, defend and hold the Codexis Indemnitees and the IE Indemnitees
harmless from and against any and all Losses arising out of any Third Party claims or suits arising from: 
 (i) breach
by Shell of any of its representations, warranties or covenants under this Agreement; or 
 (ii) Shell’s failure to
perform its obligations under this Agreement; or 
  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 (iii) the negligence or willful misconduct of Shell or its Affiliates, and its or
their directors, officers, agents, employees, sublicensees or consultants. 
 None of the foregoing indemnification obligations of Shell shall
apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by Codexis, or by IE, as applicable, of its representations, warranties or covenants set forth in this Agreement or the Codexis Indemnitees, or
the IE Indemnitees, as applicable, having committed an act or acts of gross negligence, recklessness or willful misconduct. 
 9.3 IE-Shell Intellectual Property Indemnifications. 
 (a) IE Indemnification of Shell. In addition to
the foregoing indemnities, IE shall indemnify, defend and hold the Shell Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising, during the Term, from infringement of intellectual property
rights owned or otherwise controlled by such Third Party by the practice of the IE Introduced Program Technology or the IE Solely Invented Research Technology in the Fuels Field pursuant to the terms of this Agreement; provided that IE’s
indemnification obligations pursuant to this Section 9.3(a) shall not extend to: 
 (i) any intellectual property
provided to IE or any Affiliate of IE by or on behalf of Codexis or any Affiliate of Codexis, or to improvements made by IE or any Affiliate of IE to such intellectual property; or 
 (ii) any intellectual property provided to IE or any Affiliate of IE by or on behalf of Shell or any Affiliate of Shell, or to
improvements made by IE or any Affiliate of IE to such intellectual property; or 
 (iii) any infringement arising
specifically from the combination by Shell, Codexis and/or any Indemnitees of either or both, of any item of IE Introduced Program Technology or IE Solely Invented Research Technology, with any other Technology, including without limitation other
item or items of IE Introduced Program Technology, other IE Solely Invented Research Technology and/or publicly-known Technology; 
 provided, further, that IE’s indemnification obligations pursuant to this Section 9.3(a) shall be limited for any particular Loss to [*] where, for purposes of clarity, such [*] shall not include
attorneys’ fees; provided, further, that IE’s indemnification obligations pursuant to this Section 9.3(a) shall be limited for all Losses to [*] where, for purposes of clarity, such [*] shall not include
attorneys’ fees. IE and Shell shall cooperate, including by making such disclosures as are mutually considered appropriate, with respect to the intellectual property rights of Third Parties relative to the indemnification set forth in this
Section 9.3(a). 
  
 [*] Certain information in this document has
been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 None of the foregoing indemnification obligations of IE shall apply to any Loss to the extent, and only to
the extent, such Loss is reasonably attributable to a breach by Shell of its representations, warranties or covenants set forth in this Agreement, or the Shell Indemnitees having committed an act or acts of gross negligence, recklessness or willful
misconduct. 
 (b) Shell Indemnification of IE. In addition to the foregoing indemnities, Shell shall indemnify, defend
and hold the IE Indemnitees harmless from and against any and all Losses arising out of any Third Party claims or suits arising, during the Term, from infringement of intellectual property rights owned or otherwise controlled by such Third Party by
the practice of any Shell Biofuel Technology that Shell directs IE to introduce into the Program in accordance with the last sentence of Section 2.3(b)(i) or the Shell Research Technology, in the Fuels Field, pursuant to the terms of this Agreement;
provided that Shell’s indemnification obligations pursuant to this Section 9.3(b) shall not extend to: 
 (i) any intellectual property provided to Shell or any Affiliate of Shell by or on behalf of Codexis or any Affiliate of Codexis, or to improvements made by Shell or any Affiliate of IE to such intellectual property; or 

(ii) any intellectual property provided to Shell or any Affiliate of Shell by or on behalf of IE or any Affiliate of IE, or to
improvements made by Shell or any Affiliate of Shell to such intellectual property; or 
 (iii) any infringement arising
specifically from the combination by Shell or any Indemnitees of Shell, of any item of any Shell Biofuel Technology that Shell directs IE to introduce into the Program in accordance with the last sentence of Section 2.3(b)(i) or the Shell
Research Technology, with any other Technology, including without limitation other item or items of Shell Biofuel Technology that Shell directs IE to introduce into the Program in accordance with the last sentence of Section 2.3(b)(i) or the
Shell Research Technology and/or publicly-known Technology; 
 provided, further, that Shell’s indemnification obligations
pursuant to this Section 9.3(b) shall be limited for any particular Loss to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees; provided, further, that Shell’s indemnification
obligations pursuant to this Section 9.3(b) shall be limited for all Losses to [*] where, for purposes of clarity, such [*] shall not include attorneys’ fees. Shell and IE shall cooperate, including by making such disclosures as
are mutually considered appropriate, with respect to the intellectual property rights of Third Parties relative to the indemnification set forth in this Section 9.3(b). 
 None of the foregoing indemnification obligations of Shell shall apply to any Loss to the extent, and only to the extent, such Loss is reasonably attributable to a breach by IE of its representations,
warranties or covenants set forth in this Agreement, or the IE Indemnitees having committed an act or acts of gross negligence, recklessness or willful misconduct. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

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 9.4 Environmental. Notwithstanding any other indemnification obligation in this
Agreement, and in addition to any rights that Codexis, IE or Shell may have under relevant federal, state, or local statutory and common laws, Codexis shall fully indemnify, defend and hold IE and its Affiliates and Shell and its Affiliates, IE
shall fully indemnify, defend and hold Codexis and its Affiliates and Shell and its Affiliates, and Shell shall fully indemnify, defend and hold Codexis and its Affiliates and IE and its Affiliates, harmless from and against any and all Losses
incurred as a result of Environmental Matters relating to the activities under this Agreement; provided, however, that this indemnification shall not apply to the extent any such Losses result from the acts or omissions of personnel of
the indemnified Party or its Affiliates which occur at any site of the indemnified Party or the site of any supplier of the indemnified Party. For purposes of this Section 9.4, “Environment Matters” shall mean: 
 (a) the operation by the indemnifying Party, its Affiliates, sublicensees or subcontractors of any site or facility in a manner that
is not in compliance with and in violation of any Environmental Law; 
 (b) any release of Hazardous Materials into the
environment by the indemnifying Party, its Affiliates, sublicensees or subcontractors; or any Hazardous Materials that have been Disposed of at a site of the indemnifying Party or any site of any supplier (other than a Party as supplier) of the
indemnifying Party or other site or facility operated by the indemnifying Party, its Affiliates or its subcontractors, as the term Disposed is defined in applicable Environmental Laws; 
 (c) any failure to obtain or maintain all permits and provide all notices required by Environmental Laws for the lawful operation of
any site of the indemnifying Party or any site of any supplier of the indemnifying Party or other facilities or sites operated by the indemnifying Party, its Affiliates, sublicensees or subcontractors; and 
 (d) any other actual or alleged act or omission relating to the handling or disposal of Hazardous Materials at any site of the
indemnifying Party or any site of any supplier (other than a Party as supplier) of the indemnifying Party or the handling or disposal of Hazardous Materials by the indemnifying Party, its Affiliates, sublicensees or subcontractors at any other
facility or site. 
 For purposes of this Section 9.4, “Environmental Law” shall mean any treaty, law, ordinance, regulation or
order of any jurisdiction, relating to environmental matters, including without limitation, but not limited to, matters governing air pollution; water pollution; the use, handling, reporting, release, storage, transport, or disposal of Hazardous
Materials as defined herein above; exposure to or discharge of Hazardous Materials; occupational safety and health; and public health. 
 For
purposes of this Section 9.4, “Hazardous Materials” includes, but is not limited to, air contaminant, water pollutant, hazardous material, hazardous waste, hazardous substance, toxic and hazardous substance, medical waste,
infectious waste, “chemicals known to the State of California to cause cancer or reproductive toxicity”, asbestos and

  
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information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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PCB’s, as such substances are defined under any applicable federal, state or local statute, regulation, rule or ordinance. 
 Notwithstanding anything in this Section 9.4 to the contrary, the indemnification obligation of IE to Shell and its Affiliates shall not apply to any site or facility operated by IE, or its Affiliates,
licensees or subcontractors, on behalf of Shell and its Affiliates, including without limitation the [*] facility proposed for [*] and the facility [*] facility; indemnities as to such facilities will be addressed in other
agreements. 
 9.5 Notification of Claim; Conditions to Indemnification Obligations. The provisions below shall govern a
Party’s right to receive indemnification under this Article 9. 
 (a) The Party seeking indemnification shall
promptly provide written notice (each such written notice, a “Claim Notice”) to the Indemnitor as soon as such Party becomes aware of a claim or suit for which indemnification may be sought pursuant hereto (provided that the failure
to give a Claim Notice promptly shall not prejudice the rights of the Indemnitees except to the extent that the failure to give such prompt notice materially adversely affects the ability of the Indemnitor to defend the claim or suit). 

(b) If the Indemnitor confirms in writing to the indemnified Party its intention to defend such claim or suit within fifteen
(15) business days after receipt of the Claim Notice, such Party, and such Party’s Indemnitees, shall permit the Indemnitor to control the defense of such claim or suit, including without limitation the right to select defense counsel;
provided that any assumption of the defense of a Third Party claim or suit by the Indemnitor shall not be construed as an acknowledgment that the Indemnitor is liable to indemnify the Party seeking indemnification or any of its Indemnitees in
respect of the Third Party claim or suit, nor shall it constitute a waiver by the Indemnitor of any defenses it may assert against the Party seeking indemnification, or any Indemnitee’s claim for indemnification. Upon receipt by the indemnified
Party of its intention to defend, the Indemnitor shall not be liable to the indemnified Party or to any of its Indemnitees for any legal expenses subsequently incurred by such indemnified Party or any of its Indemnitees in connection with the
analysis, defense or settlement of the Third Party claim or suit, except subsequent to termination of its right to defend as provided in Section 9.5(c)(ii), or with the prior written consent of the Indemnitor. In no event, however, may the
Indemnitor compromise or settle any claim or suit in a manner which admits fault or negligence on the part of any Indemnitee, or that otherwise materially affects such Indemnitee’s rights under this Agreement, or requires any payment by an
Indemnitee, without the prior written consent of such Indemnitee. 
 (c) If the Indemnitor fails to (i) provide to
the indemnified Party its confirmation in writing of its intention to defend such claim or suit within the fifteen (15) business day period set forth in Section 9.5(b); or (ii) diligently and reasonably defend such suit or claim at any
time, its right to defend the claim or suit shall terminate immediately in the case of (i) and otherwise upon twenty (20) days’ written notice to the Indemnitor and the indemnified Party may (A) assume the defense of such claim
or suit

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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at the sole expense of the Indemnitor and (B) settle or compromise such claim or suit without the consent of the Indemnitor. 
 (d) The indemnified Party, and such Party’s Indemnitees, shall reasonably cooperate with the Indemnitor, at the
Indemnitor’s cost and expense, in the defense of such claim or suit, and shall furnish such records, information and testimony, provide such witnesses and attend such conferences, discovery proceedings, hearings, trials and appeals as may be
reasonably requested in connection therewith. Such cooperation shall include access during normal business hours by the indemnifying Party to, and reasonable retention by the indemnified Party of, records and information that are reasonably relevant
to such Third Party claim or suit and, as reasonably requested by the indemnifying Party, making the indemnified Party and its employees and agents available on a mutually convenient basis to provide additional information and explanation of any
records or information provided. 
 (e) An indemnified Party, acting on behalf of itself and all other Indemnitees, shall
have the right, but not the duty, at its sole cost and expense, to participate in, but not control, the defense of any claim or suit hereunder with attorneys of its own selection without relieving the Indemnitor of any of its obligations hereunder.

 (f) In the event that it is determined by an arbitrator pursuant to an arbitration conducted in accordance with
Schedule 11.9, that the Indemnitor is not obligated to indemnify, defend or hold harmless the indemnified Party or any of its Indemnitees from and against the Third Party claim or suit, the indemnified Party shall reimburse the Indemnitor for any
and all costs and expenses (including lawyers’ fees and costs) incurred by the Indemnitor in its defense of the Third Party claim or suit with respect to such indemnified Party. Notwithstanding the foregoing, each of the Parties agrees not to
bring any such arbitration proceeding until there has been either (i) a final, non-appealable decision reached by a court with valid jurisdiction or (ii) a binding settlement, in each case, with respect to Losses arising out of any such
Third Party claims or suits. 
 9.6 Other Indemnification Obligations. Notwithstanding anything to the contrary, the
provisions of this Article 9 are not intended, and shall not be deemed, to modify the terms and conditions regarding the indemnification obligations, if any, of any Party set forth in the Shell Agreements; provided, however, that
notwithstanding anything to the contrary in this Agreement, the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement, for purposes of Section 10.2(b)(iv) of the Codexis-Shell US Research Agreement and Section 8.1(c) and
Section 8.2(e) of the Codexis-Shell US License Agreement, IE will always be deemed to be an Affiliate (as such term is defined in the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, as applicable) of Shell (as
such term is defined in the Codexis-Shell US Research Agreement and the Codexis-Shell US License Agreement, as applicable); provided further that, notwithstanding anything to the contrary in this Agreement, the Codexis-Shell US
Research Agreement or the Codexis-Shell US License

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Agreement, Codexis Jointly Invented Research Technology and IE Jointly Invented Research Technology shall not be deemed to be Program Patent Rights or Program Licensed Technology for purposes of
Section 8.1(c) of the Codexis-Shell US License Agreement; provided further that, notwithstanding anything to the contrary in this Agreement, the Codexis-Shell US Research Agreement or the Codexis-Shell US License Agreement, Codexis
Jointly Invented Research Technology and IE Jointly Invented Research Technology shall not be deemed to be intellectual property for purposes of Section 8.2(e) of the Codexis-Shell US License Agreement. 
 ARTICLE 10 
 TERM AND TERMINATION 
 10.1 Term. 
 (a) The research term of this Agreement (the “Research Term”) will commence on the Effective Date and, unless
earlier terminated in accordance with Section 10.2, shall continue in effect until the earlier of the expiration or termination of (a) this Agreement, (b) the Codexis-Shell US Research Agreement or (c) the IE-Shell Canada [*]
Agreement, or successor or replacement thereof. 
 (b) The term of this Agreement (the “Term”) will
commence on the Effective Date and, unless earlier terminated in accordance with Section 10.4, shall continue in effect until the earlier of the expiration or termination of (a) the Codexis-Shell US License Agreement or (b) the IE-Shell
Canada [*] Agreement, or successor or replacement thereof. 
 10.2 Termination of Research Term At Will. Shell, in
its sole discretion, may terminate the Research Term at any time upon thirty (30) days prior written notice to Codexis and IE. 
 10.3 Termination due to Challenge of Patent. In the event that IE challenges in any country the validity of any issued patent that is within the Patent Rights licensed to Codexis under the Codexis-[*] Agreement, the licenses
granted by Shell to IE under the IE-Shell Canada [*] Agreement or the IE-Shell Canada [*] Agreement with respect to use of any technology originating from or derived from any [*] and/or any [*], may at Codexis’
option, be terminated as to the country of such issued patent, such termination to be effective upon written notice by Codexis to IE and Shell. 
 10.4 Termination Upon Material Breach. Material failure by a Party to comply with any of its obligations contained herein shall entitle a Party not in default and injured by such material failure
to give to a Party in default written notice (a “Default Notice”) specifying the nature of the default in reasonable detail, requiring such defaulting Party to make good or otherwise cure such default, and stating such
non-defaulting Party’s intention to terminate this Agreement if such default is not cured. If such default is not cured within sixty (60) days after the date the Default Notice was sent,

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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then such non-defaulting Party shall be entitled, without prejudice to any other rights conferred on it by this Agreement, and in addition to any other remedies available to it by law or in
equity, to terminate this Agreement by written notice of termination to the defaulting Party; provided, however, that if the Party receiving such Default Notice (the “Disputing Party”) has a reasonable basis for
disputing that it is in default and such Disputing Party provides written notice thereof to the Party that provided the Default Notice before the expiration of such sixty (60) day cure period, then the Disputing Party shall have the right,
prior to the expiration of such sixty (60) day period, to submit such dispute for resolution in accordance with the provisions of Section 11.9; provided further that in the event that as a result of such resolution, the Disputing
Party is found to be in default and such default is not cured within forty-five (45) days after the date of such resolution, then the Party that provided the Default Notice shall be entitled, without prejudice to any other rights conferred on
it by this Agreement, and in addition to any other remedies available to it by law or in equity, to terminate this Agreement by written notice of termination to the Disputing Party. A copy of any and all written notices given by any Party to any
other Party pursuant to this Section 10.4 shall also be given to the third Party to this Agreement. 
 10.5 Consequences of
Expiration or Termination of this Agreement. 
 (a) Upon termination of this Agreement by a Party pursuant to Section
10.4 (the terminating Party, the “Non-Breaching Party”): (i) all licenses and other rights granted by the Party in breach (the “Breaching Party”) to the Non-Breaching Party shall remain in full force and effect
in accordance with their respective terms, subject to the terms and conditions of this Agreement; (ii) all licenses and other rights granted by the Non-Breaching Party to the Breaching Party shall terminate and be of no further force or effect,
except as otherwise expressly set forth in this Section 10.5; and (iii) all other licenses and other rights granted by and among the Parties shall remain in full force and effect in accordance with their respective terms, subject to the terms
and conditions of this Agreement. 
 (b) Upon termination of this Agreement pursuant to Section 10.4, sublicenses granted
by the Breaching Party to an Affiliate or to a Third Party, as applicable, pursuant to a license granted by the Non-Breaching Party to the Breaching Party under this Agreement will survive, subject to the restrictions contained in this Agreement,
but shall be assigned to the Non-Breaching Party; provided that (i) such Affiliate or Third Party sublicensee is not the cause of the breach under Section 10.4, and (ii) such Affiliate or Third Party sublicensee is not in breach of,
and continues to fully perform all obligations under, the applicable sublicense agreement(s). 
 (c) Upon expiration or
termination of this Agreement, unless otherwise agreed to in writing by the applicable Parties, each Party will promptly return all records and materials in its possession or control containing or comprising the other Party’s Confidential
Information and to which such Party does not expressly retain rights hereunder and that are not required to fulfill its obligations hereunder that continue after

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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such expiration or termination of this Agreement. Notwithstanding anything to the contrary, each Party shall have the right to maintain one (1) copy of such records in its legal department
files for archive purposes; provided that such copy is kept pursuant to the surviving confidentiality obligations of this Agreement. 
 (d) The following articles and sections of this Agreement shall survive its termination or expiration: Articles 1, 3, 4, 5, 6, 7, 9, and 11, and Sections 2.3(d)(ii), 2.7, 8.4 and 10.5. In addition,
Section 10.6 shall survive in the event of the (i) expiration of this Agreement, or (ii) termination of this Agreement, other than a termination (A) due to the termination of the IE-Shell Canada [*] Agreement where IE, its
Affiliates and sublicensees retain no license rights with respect to any Codexis Introduced Program Technology or Codexis Research Technology, or (B) pursuant to Section 10.4 where IE is the Breaching Party. Termination of this Agreement will
have no effect on the rights and licenses granted under the Codexis-Shell US License Agreement and the IE-Shell Canada [*] Agreement. 
 (e) Termination of this Agreement for any reason shall be without prejudice to (i) the rights and obligations of the Parties set forth in any article or section of this Agreement which
provides, by the terms therein, for performance by any of the other Parties subsequent to termination; (ii) the right of each of the Parties to receive all payments accrued under Article 5 prior to the effective date of termination (subject to
Section 10.5(a), as applicable), or (iii) any other remedies which a Party may otherwise have. 
 10.6 Consequences of
Termination of the Codexis-Shell US License Agreement. 
 (a) Rights of IE. 
 (i) In the event that the Codexis-Shell US License Agreement terminates for any reason other than as a consequence of any action by
IE or its Affiliates, Codexis, effective as of the effective date of such termination, will grant, and hereby grants, to IE a non-exclusive, worldwide, royalty-bearing license under the Codexis Research Technology and Codexis Introduced Program
Technology in the Fuels Field, under all terms and conditions set forth in the Codexis-Shell US License Agreement, excluding Sections 2.4 and 7.3, and Articles 3 (except Section 3.5), 4 and 6 of the Codexis-Shell US License Agreement,
mutatis mutandis, and consistent with IE’s rights and obligations under this Agreement, for use in the manufacture, use, sale, offer for sale, and import of [*], derivatives of [*], and any [*] that are subject to a
specific [*] adopted in the [*], as of the date of such termination, in each case that are derived from Biomass (“Permitted Products”). The right to be granted by Codexis to IE under this Section 10.6(a) will include a
right to grant sublicense rights; provided that IE shall have no right to grant any sublicense under the rights granted by Codexis to IE under this Section 10.6(a) to Shell or any Affiliate of Shell; provided further that IE
shall have no right to utilize, for itself or any of its successors, for any commercial purpose, the rights granted to IE by Codexis under this Section 10.6(a) in the event that Shell [*] but, for

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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greater clarity, [*] shall have no impact on the rights of IE with respect to the granting of rights to Third Parties under the Codexis Introduced Program Technology and the Codexis
Research Technology in the Fuels Field in effect immediately prior to [*]; provided, further, that any such sublicense grant of Codexis Research Technology and Codexis Introduced Program Technology (i) is only a portion of
a grant of a technology package that includes IE Biofuel Process Technology necessary for the manufacture, use, sale, offer for sale, and import of one or more Permitted Products, and (ii) would terminate, automatically and without a
requirement of further action by IE, if the sublicensee independently exercises the rights granted under such sublicense with respect to Codexis Research Technology or Codexis Introduced Program Technology and not together or in concert with IE
Biofuel Process Technology. For purposes of clarification, any sublicense granted by IE under the rights granted by Codexis to IE under this Section 10.6(a) shall include a prohibition against the use of Codexis Research Technology and Codexis
Introduced Program Technology unless such Codexis Research Technology and Codexis Introduced Program Technology is used solely for use in direct connection with specific facilities that use IE Biofuel Process Technology for the manufacture, use,
sale, offer for sale, and import of one or more Permitted Products; provided, however, IE may grant a sublicense under the rights granted by Codexis to IE under this Section 10.6(a), subject to the provisions of Section 4.7 hereunder
and Section 2.4 of the Codexis-Shell US License Agreement as applied to IE and its Affiliates, mutatis mutandis, for the supply of Biocatalysts manufactured by the sublicensee to specific facilities that use IE Biofuel Process Technology
for the manufacture, use, sale, offer for sale, and import of one or more Permitted Products, but not for sale of Biocatalysts to Third Parties not using such Biocatalysts together with IE Biofuel Process Technology. 
 (ii) In the event that, after the date of the termination of the Codexis-Shell US License Agreement as described in Section
10.6(a)(i), Shell or any of its Affiliates retains or acquires rights with respect to any license rights under any of the Codexis Research Technology and/or the Codexis Introduced Program Technology in the Fuels Field, except for rights and
obligations under Articles 5, 8 and 10 and Sections 2.3, 3.5, 6.2, 7.3 and 7.4 of the Codexis-Shell US License Agreement, for the production of any product other than a Permitted Product, as of the date of the grant of such license, IE shall have a
non-exclusive license right under such Codexis Research Technology and/or such Codexis Introduced Program Technology to produce such product(s) on terms and conditions of the license right granted to Shell or its Affiliates. 
 (iii) Notwithstanding anything to the contrary in this Section 10.6(a), in the event that the Codexis-Shell US License Agreement
terminates in connection with, or subsequent to, the [*] by Shell, or an Affiliate of Shell, directly or indirectly, of the [*], such termination shall have no impact on the rights of IE under the Codexis Introduced Program Technology
and/or the Codexis Research Technology in the Fuels Field in effect immediately prior to such termination. 
 (iv)
Without prejudice to the rights of Codexis or IE under law, termination of the Codexis-Shell US License Agreement shall have no effect on (a) the

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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sublicenses previously granted by or through IE under Introduced Program Technology and Research Technology with respect to (i) any specific operational facility and the products
produced at such facility as of the date of such termination, and/or (ii) any specific facility that is under construction and/or that has been permitted for construction or operation by the relevant governmental agency(ies) with respect to the
products identified in such permit as of the date of such termination, but excluding in each of (i) and (ii), the production of Biocatalysts for any use other than use in direct connection with such specific facility(ies), and (b) the
obligation for IE to make payments to Codexis on behalf of such facilities in accordance with the terms of this Agreement. 
 (b) Rights of Codexis. In the event that the Codexis-Shell US License Agreement terminates and Shell’s rights after such termination are not modified, altered or different than as set forth in Section 9.4(a) of the
Codexis-Shell US License Agreement, IE, effective as of the effective date of such termination, will grant, and hereby grants, to Codexis a non-exclusive license, subject to the terms and conditions of the IE Third Party Agreements, together with a
right to grant sublicense rights, under (i) IE Research Technology and IE Introduced Program Technology, excluding, in each case, any and all Patent Rights within such Technologies, for use in the Fuels Field under terms set forth in the
IE-Shell Canada [*] Agreement as applied to Codexis, mutatis mutandis, and (ii) IE Jointly Invented Research Technology for use in the Fuels Field, such license to be royalty- and payment-free. In addition, the Parties agree that
Codexis may continue to utilize any and all rights granted by IE to Codexis under Patent Rights covering inventions jointly developed by IE and Codexis and, under the terms of this Agreement, owned by IE for any and all purposes expressly granted to
Codexis under the terms of this Agreement. 
 ARTICLE 11 
 GENERAL PROVISIONS 
 11.1 Relationship of the
Parties. The Parties shall perform their obligations under this Agreement as independent contractors and nothing contained in this Agreement shall be construed to make Codexis or IE partners, joint venturers, principals, representatives or
employees of the other. Codexis and IE agree that this Agreement shall not constitute a partnership for tax purposes. In the event, however, that this Agreement was so construed, then Codexis and IE agree to be excluded from the provisions of
Subchapter K of the United States Internal Revenue Code of 1986, as amended. 
 11.2 Assignments. Except as expressly
provided herein, neither this Agreement nor any interest hereunder may be assigned, nor any other obligation delegated, by a Party without the prior written consent of the other Party; provided, however, that each Party shall have the
right to assign this Agreement without consent to an Affiliate of such Party or to any successor in interest to such Party by way of merger, consolidation or other business reorganization or the sale of all or substantially all of its assets. In the
case of any permitted assignment to an Affiliate, the assignee shall assume

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - 50 - 

 
all of the liabilities and obligations of the assigning Party under this Agreement and shall deliver an instrument in writing to each of the other Parties confirming its agreement to do so.
Notwithstanding any such assignment and assumption of this Agreement, the assigning Party shall remain liable, and responsible for, the payment and performance of all such past, present and future liabilities and obligations. This Agreement shall be
binding upon successors and permitted assigns of the Parties. Any assignment not in accordance with this Section 11.2 will be null and void. 
 11.3 Further Actions. Each Party agrees to execute, acknowledge and deliver such further instruments and to do all such other acts as may be necessary or appropriate in order to carry out the
express provisions of this Agreement. 
 11.4 International Trade Compliance. Each Party agrees to conduct its operations
under the terms of this Agreement in compliance with all applicable import, export, reexport and foreign trade control statutes, laws, regulations, enactments, directives and ordinances of any governmental authority with jurisdiction over such
operations then in effect (“International Trade Laws”) in connection with the performance of its obligations under this Agreement. Each Party shall be responsible for obtaining any necessary authorizations required by International
Trade Laws applicable to any Party’s import, export, reexport or other foreign trade activity in connection with the performance of its obligations under this Agreement. The transfer of any material from a Party to any of the other Parties
shall be conducted in accordance with the terms set forth on Schedule 2.4(b). Each Party will cause these terms to be imposed upon any Affiliate and Third Party from which Information, Technology, materials or services are procured for this
Agreement, including any supplier or subcontractor. This Agreement does not constitute, and shall not be construed to constitute, an agreement by any Party to take or refrain from taking any action, which would constitute non-compliance with any
International Trade Laws applicable to its operations under the terms of this Agreement. 
 11.5 Force Majeure. None of
the Parties shall be liable to the other for failure or delay in the performance of any of its obligations under this Agreement for the time and to the extent such failure or delay is caused by earthquake, riot, civil commotion, war, terrorist acts,
strike, flood, or governmental acts or restriction that is beyond the control of the respective Party. The Party affected by such force majeure will provide the other Parties with full particulars thereof as soon as it becomes aware of the same
(including without limitation its best estimate of the likely extent and duration of the interference with its activities), and will use commercially reasonable efforts to overcome the difficulties created thereby and to resume performance of its
obligations as soon as practicable. If the performance of any obligation under this Agreement is delayed owing to a force majeure for any continuous period of more than ninety (90) days, any of the Parties may terminate this Agreement by giving
to the other Parties not less than ten (10) business days notice in writing. In the event of any force majeure event that delays the performance of a Party under this Agreement, the Term shall automatically be extended for the period of time
that such performance is delayed. Notwithstanding anything to the contrary, the payment of money shall not be subject to this Section 11.5. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 11.6 Captions. The captions to this Agreement are for convenience only, and are to be
of no force or effect in construing or interpreting any of the provisions of this Agreement. 
 11.7 Rules of
Construction. Each of the Parties acknowledge and agree that each of the Parties has had legal counsel review and participate in settling the terms of this Agreement and that any rule of construction to the effect that any ambiguity is to be
resolved against the drafting Party shall not be applicable to the interpretation of this Agreement. 
 11.8 Governing
Law. This Agreement will be governed by and interpreted in accordance with the laws of the State of New York, applicable to contracts entered into and to be performed wholly within the State of New York, excluding conflict of laws principles.

 11.9 Dispute Resolution; Jurisdiction and Venue. Any controversy or claim (“Dispute”), whether based on
contract, tort, statute or other legal or equitable theory (including without limitation but not limited to any claim of fraud, misrepresentation or fraudulent inducement or any question of validity or effect of this Agreement including without
limitation this clause) arising out of or related to this Agreement (including without limitation but not limited to any amendments, annexations, and extensions) or the breach thereof shall be settled by consultation between the Parties initiated by
written notice of the Dispute to the other Parties. In the event such consultation does not settle the Dispute within thirty (30) days after written notice of such Dispute, subject to such extension or extensions as the Parties to the Dispute
may stipulate in writing, then the Dispute shall be settled by binding arbitration in accordance with Schedule 11.9 hereof. 
 11.10 Notices and Deliveries. Any notice, request, delivery, approval or consent required or permitted to be given under this Agreement will be in writing and will be deemed to have been sufficiently given on the date of receipt if
delivered in person, transmitted by telecopier (receipt verified) or by express courier service (signature required) or five (5) days after it was sent by registered letter, return receipt requested (or its equivalent), provided that no
postal strike or other disruption is then in effect or comes into effect within two (2) days after such mailing, to the Party to which it is directed at its address or facsimile number shown below or such other address or facsimile number as
such Party will have last given by notice to the other Parties. 
 If to Codexis, addressed to: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, CA 94063 
 Attention: Chief Executive Officer 
 Telephone:    [*] 
 Fax:    [*]  
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

 - 52 - 

 with a copy to: 
 Codexis, Inc. 
 200 Penobscot Drive 
 Redwood City, CA 94063 
 Attention: General Counsel 
 Telephone:    [*] 
 Fax:    [*]  
 If to IE, addressed to: 
 Iogen Energy Corporation 
 310 Hunt Club Road East 
 Ottawa, Ontario K1V 1C1 
 Canada 
 Attention: Chief Executive Officer 
 Telephone:    [*] 
 Fax:    [*] 
 If to Shell US, addressed to: 
 Shell Oil Products (US) 
 910 Louisiana Street 
 Houston, TX 77002 
 Attention: Sr. Business and JV Manager (Americas) 
 Telephone:    [*] 
 Fax:    [*] 
 with a copy to: 
 Shell Oil Company 
 Associate General Counsel, Intellectual
Property Services 
 910 Louisiana Street 
 Houston, TX 77002 
 Fax:    [*] 
 If to Shell Canada, addressed to:

 Shell Chemicals Canada Limited 
 400 - 4th Avenue S.W. 
 P.O. Box 4280, Station ‘C’ 
 Calgary, Alberta T2T 5Z5

 Canada 
 Attention:    [*] 
 Telephone:    [*] 
 Fax:    [*] 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - 53 - 

 with a copy to: 
 Shell Oil Company 
 910 Louisiana Street 
 Houston, TX 77002 
 Attention:    [*] 
 Telephone:    [*] 
 Fax:    [*] 
 11.11 No Consequential Damages. EXCEPT PURSUANT TO ARTICLE 9 AS TO DAMAGES CLAIMED BY A THIRD PARTY, IN NO EVENT WILL A PARTY OR ANY OF ITS RESPECTIVE AFFILIATES BE LIABLE TO THE OTHER PARTY OR ANY
OF ITS AFFILIATES FOR SPECIAL, INDIRECT, CONSEQUENTIAL OR PUNITIVE DAMAGES, WHETHER IN CONTRACT, WARRANTY, TORT, NEGLIGENCE, STRICT LIABILITY OR OTHERWISE, INCLUDING BUT NOT LIMITED TO, LOSS OF PROFITS OR REVENUE, OR CLAIMS OF CUSTOMERS OF ANY OF
THEM OR OTHER THIRD PARTIES FOR SUCH DAMAGES. 
 11.12 Entire Agreement. This Agreement is the sole agreement with
respect to the subject matter hereof and supersede all other prior and contemporaneous agreements and understandings between the Parties with respect to same. For purposes of clarification, each of the Parties acknowledge and agree that the subject
matter of this Agreement is separate from, and will not supersede, the subject matter of the Shell Agreements. In addition, to the extent that there is any conflict or inconsistency between the terms and conditions of this Agreement and the terms
and conditions of any of the Shell Agreements, the terms of this Agreement shall govern. 
 11.13 Waiver. A waiver by a
Party of any of the terms and conditions of this Agreement in any instance will not be deemed or construed to be a waiver of such term or condition for the future, or of any subsequent breach hereof. All rights, remedies, undertakings, obligations
and agreements contained in this Agreement will be cumulative and none of them will be in limitation of any other remedy, right, undertaking, obligation or agreement of any of the Parties. 
 11.14 Severability. When possible, each provision of this Agreement will be interpreted in such manner as to be effective and valid
under applicable law, but if any provision of this Agreement is held to be prohibited by or invalid under applicable law, such provision will be ineffective but only to the extent of such prohibition or invalidity, without invalidating the remainder
of such provision or of this Agreement. The Parties will make a good faith effort to replace the invalid or unenforceable provision with a

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 - 54 - 

 
valid one which in its economic effect is most consistent with the invalid or unenforceable provision. 
 11.15 Counterparts. This Agreement may be executed simultaneously in counterparts, any one of which need not contain the signature of more than one Party but both such counterparts taken together
will constitute one and the same agreement. 
 11.16 Compliance with Laws. Each Party shall comply with all applicable
statutes, laws, regulations, enactments, directives and ordinances and all injunctions, decisions, directives, judgments and orders of any governmental authority in effect at any time in connection with the performance of its obligations under this
Agreement. 
 11.17 Amendment. No amendment of any provision of this Agreement shall be binding on a Party to this
Agreement unless consented to in writing and signed by such Party. Signatures and writings in an electronic form do not constitute or create a writing signed by a Party. 
 [Signature page follows] 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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 IN WITNESS WHEREOF, the
Parties have caused this Agreement to be executed by their respective duly authorized officers as of the Effective Date, each copy of which will for all purposes be deemed to be an original. 
  

			
	CODEXIS, INC.
		
	By:	 	 /s/ Alan Shaw

	Name:	 	Alan Shaw
	Title:	 	President
	
	IOGEN ENERGY CORP.
		
	By:	 	 /s/ Brian Foody

	Name:	 	 Brian Foody

	Title:	 	 President & CEO

	
	EQUILON ENTERPRISES LLC
	DBA SHELL OIL PRODUCTS US
		
	By:	 	 /s/ T.N. Smith

	Name:	 	 T.N. Smith

	Title:	 	 President

	
	SHELL CHEMICALS CANADA LIMITED
		
	By:	 	 /s/ Derric W. Ostapyk

	Name:	 	 Derric W. Ostapyk

	Title:	 	 President

 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted
portions. 

 SCHEDULE 1.62 
 SHELL BIOFUEL TECHNOLOGY TERMS 
 Notwithstanding anything to the
contrary in this Agreement, the capitalized terms defined in this Schedule 1.62 shall apply to the corresponding capitalized terms in Section 1.62 of this Agreement only. 
 “Affiliate” means, in relation to any person, any other person that directly or indirectly controls, that is directly or indirectly controlled by, or that is under the direct or indirect
common control of, such person (including, with respect to Shell only, any person that is directly or indirectly controlled by Royal Dutch Shell plc); provided, however, that (i) where one person controls another person, any other person
controlled by the first such person shall be deemed to be an Affiliate (as defined in this Schedule 1.62) of the second person and (ii) any corporation in respect of which any person owns beneficially, directly or indirectly, more than fifty
percent (50%) of such corporation’s voting securities, shall be deemed to be an Affiliate (as defined in this Schedule 1.62) of such person. 
 “Development Program” means the [*] development program undertaken by IE, comprising the elements described in Section 2.2 of the IE-Shell Canada [*] Agreement as approved, and amended from time to time
in accordance with the terms and conditions of the IE-Shell Canada [*] Agreement. 
 “Enzyme Technology” means all
Intellectual Property (as defined in this Schedule 1.62) pertaining or relating to processes, compositions or relevant research, development and operating know-how for the identification, evolution and production of [*] enzymes, including but
not limited to all [*], whether naturally occurring or genetically enhanced, primarily for use in processes relating to [*] Technology (as defined in this Schedule 1.62), including evolved enzymes, [*], operating protocols,
computer models, samples, assay procedures, experimental reports, analytical procedures and know-how relating to the operation of fermenters. 
 “[*] Technology” means all Intellectual Property (as defined in this Schedule 1.62) pertaining or relating to processes or processing steps for the conversion of feedstocks comprising primarily [*] to [*],
including feedstock handling, feedstock preparation, feedstock pretreatment, enzymatic hydrolysis, acid hydrolysis, production of lignin by-products, [*] to produce [*] and any other [*] component, [*] to produce [*] and any other [*]
component, [*] of [*] and [*] to produce [*] and any other [*] component and separation steps required in the manufacturing of [*], but excluding Enzyme Technology (as defined in this Schedule 1.62).

 “IE Background Technology” means IE Technology (as defined in this Schedule 1.62) as of June 1, 2008. 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 “IE Foreground Technology” means IE Technology (as defined in this Schedule 1.62) developed
during the term of the IE-Shell Canada [*] Agreement. 
 “IE Grant-back Technology” means the Intellectual Property (as
defined in this Schedule 1.62) licensed to IE pursuant to Section 5.1 of the IE-Shell Canada [*] Agreement and pursuant to licenses IE concludes with Third Parties (as defined in this Schedule 1.62). 
 “IE Technology” means the [*] Technology (as defined in this Schedule 1.62) and the Enzyme Technology (as defined in this Schedule
1.62) developed by IE and/or its Affiliates(as defined in this Schedule 1.62), or to which IE and/or its Affiliates (as defined in this Schedule 1.62) have sub-licensable rights; including IE Background Technology (as defined in this Schedule 1.62),
IE Foreground Technology (as defined in this Schedule 1.62), and IE Grant-back Technology (as defined in this Schedule 1.62). 
 “Intellectual Property” means industrial and intellectual property, including all: 
  

	 	(a)	trade secrets, confidential information and know-how, including all unpatented inventions, formulae, processes, technology, technical information, inventor’s
notes, unpublished studies and data, research designs, research results and notes, prototypes, drawings, design and construction specifications, production, operating and quality control manuals; 

  

	 	(b)	copyrights, including all copyrights in software; 

  

	 	(c)	industrial designs, design patents and other designs; 

  

	 	(d)	microbial strains and genetic material; and 

  

	 	(e)	patents; 

 and all registrations, applications
for registration, reissues, extensions, renewals, divisions, continuations, continuations-in-part, proprietary information, documentation, licenses, registered user agreements and other agreements relating to the foregoing. 
 “Third Party” means any person other than IE, Shell Canada and [*], and their Affiliates (as defined in this Schedule 1.62).

  
 [*] Certain information in this document has been omitted and
filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 2 

 SCHEDULE 1.69 
 THIRD PARTY AGREEMENTS 
 Codexis: 
 [*]: 
 License Agreement,
effective as of [*], by and between Codexis, Inc., and [*] and [*] 
 Maxygen: 
 License Agreement effective as of March 28, 2002, by and between Maxygen, Inc. and Codexis, Inc., as amended. 
 IE: 
 [*]: 

 License Agreement, effective as of [*], by and between [*] and Iogen Energy Corporation, as amended. 
 [*]: 
 License Agreement,
effective as of [*], by and between Iogen Energy Corporation and [*]. 
 [*]: 
 License Agreement, effective as of [*], by and between Iogen Energy Corporation and [*]. 
 [*]: 
 Agreement, effective
as of [*], by and between [*] and Iogen Corporation. 
 Agreement, effective as of [*], by and between [*], and
Iogen Energy Corporation and Iogen Energy Canada Corporation. 
 Shell: 
 None as of the Effective Date 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

 1 

 SCHEDULE 1.70 
 SPECIES OF [*] 
  

	 	•	 	 Section 1 [*]: 

  

	 	•	 	 [*] 

  

	 	•	 	 Section 2 [*]: 

 [*] 
  

	 	•	 	 Section 4 [*]: 

 [*] 
  

	 	•	 	 Section 5 [*]: 

 [*] 
  

	 	•	 	 Section 6 [*]: 

 [*] 
  
 [*]
Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 SCHEDULE 2.4(b) 
 TERMS OF MATERIALS TRANSFER 
 • any and all
material will be used under suitable containment conditions solely for studies in furtherance of the Program, and for not other purpose; 
 • materials will not be transferred or provided to any Third Party without the prior written approval of the Party that originally provided such material; 
 • the Party providing material shall provide the Party receiving such material with the applicable import and export classification
relevant to the material. Should the provision of material involve a cross-border transfer, the Party providing the material will act as the exporter of record, as defined by International Trade Laws, and the Party receiving such material will act
as the importer of record, as defined by International Trade Laws. 
 • the Party that originally provided material shall
retain all right, title and interest in and to such material and uses thereof, including but not limited to all right, title and interest in patents and other intellectual property rights relating to such material and, unless otherwise expressly
provided under the terms of this Agreement or in writing by the Party that originally provided such material, no right or interest in or to material is granted or implied; 
 • in the event that any invention is conceived and/or reduced to practice by a Party receiving material, the Party receiving such
material will provide a written disclosure to the Party that originally provided such material describing such invention in detail reasonably adequate to characterize such invention; 
 • ownership of any invention conceived and/or reduced to practice by a Party receiving material will be as set forth in Article 3 of
this Agreement and, if not set forth in Article 3, will be owned by the Party that originally provided such material; 
 •
the Party receiving material shall indemnify and hold harmless the Party originally providing such material, its employees or agents from and against all loss or expense by reason of any liability imposed by law upon such providing Party;

 • THE PARTY PROVIDING MATERIAL PROVIDES NO WARRANTIES FOR THE MATERIALS, EXPRESS OR IMPLIED, EITHER IN FACT OR BY
OPERATION OF LAW, STATUTORY OR OTHERWISE, AND SPECIFICALLY DISCLAIMS ANY IMPLIED WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON INFRINGEMENT 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 SCHEDULE 4.4(e) 
 CODEXIS-[*] AGREEMENT DEFINITIONS 
 Notwithstanding anything to the
contrary in this Agreement, the capitalized terms defined in this Schedule 4.4(e) shall apply to the corresponding capitalized terms in Sections 4.4(e) and 4.4(f) of this Agreement only, unless otherwise noted in such sections. 
 “Affiliate” means with respect to any Person, any other Person that is controlled by, controls, or is under common control with such first Person,
as the case may be. For purposes of this paragraph only, the term “control” means (a) direct or indirect ownership of fifty percent (50%) or more of the voting interest in the entity in question, or fifty percent (50%) or
more interest in the income of the entity in question; provided, however, that if local Law requires a minimum percentage of local ownership of greater than fifty percent (50%), control will be established by direct or indirect beneficial ownership
of one hundred percent (100%) of the maximum ownership percentage that may, under such local Law, be owned by foreign interests, or (b) possession, directly or indirectly, of the power to direct or cause the direction of management or
policies of the entity in question (whether through ownership of securities or other ownership interests, by contract or otherwise). 
 “Law” means, individually and collectively, any and all laws, ordinances, orders, rules, rulings, directives and regulations of any kind whatsoever of any governmental, court or regulatory authority within the applicable
jurisdiction. 
 “Person” means any individual, corporation, partnership, association, joint-stock company, trust,
unincorporated organization or government or political subdivision thereof. 
 “Improvement” means [*]. 
 “Shuffling Technology” means any and all techniques, methodologies, processes, materials and/or instrumentation, including without
limitation any and all Patents, know-how, confidential information and materials relating thereto, that, in each case, relates to the characterization, development and optimization of genes and proteins for commercial uses through the recombination
and/or rearrangement and/or mutation of genetic material for the creation of genetic diversity, and generally applicable screening techniques, methodologies, or processes of using the resulting genetic material to identify potential usefulness.

 “Patent” means all: (a) United States and foreign patents, re-examinations, reissues, renewals, extensions and
term restorations, inventors’ certificates and counterparts thereof; and (b) pending applications for United States and foreign patents, including, without limitation, provisional applications,

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 
continuations, continued prosecution, divisional and substitute applications, and counterparts thereof. 
 “Valid Claim” means (a) any claim of an issued and unexpired patent within the Licensed Patents which has not been held unenforceable or invalid by a court or other governmental agency of
competent jurisdiction in a decision that is not appealed or is unappealable, and which patent has not been disclaimed or admitted to be invalid or unenforceable through reissue or otherwise, or (b) a pending claim in a pending patent
application within the Licensed Patents that has not been abandoned, finally rejected, or expired without the possibility of appeal or refiling. 
 “Licensed Patents” means (a) the Patents (as defined above) listed on Exhibit C of the Codexis-[*] License (a copy of which has been provided to IE and Shell as of the date
hereof) and (b) any and all other Patents (as defined above) Controlled by [*] as of the [*] related to the [*], the [*] and/or any [*] (and the genes encoding the same) that are necessary or useful
[*]. 
 “Controlled” means, with respect to all or any portion of any gene, the gene itself, protein, compound,
material, information or intellectual property right, that [*] owns or has a license to any portion of any such gene, the gene itself, protein, compound, material, information or intellectual property right and has the ability to grant to
Codexis access, a license or a sublicense (as applicable) to any portion of any such gene, the gene itself, protein, compound, material, information or intellectual property right as provided for in the Codexis-[*] Agreement without violating
the terms of any agreement or other arrangements with any Third Party. 
 “Third Party” means any Person other than
[*], Codexis, or any Affiliate of either [*] or Codexis. 
 “Term” shall mean the term of the Codexis-[*]
Agreement (Codexis will provide notice to IE on the earlier of the expiration or termination of the [*] Agreement in accordance with Section 4.4(e)). 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

 2 

 SCHEDULE 5.1(c) 
 PAYMENTS 
 ARTICLE I 
 DEFINITIONS 
 Capitalized
terms in this Schedule 5.1(c) shall have the meanings set forth in Article 1 of this Agreement, with the following additions applicable to this Schedule 5.1(c): 
 Section 1.01 “First Royalty Sale” means a first transfer by IE or an IE Affiliate or a sublicensee of a Royalty-Bearing Product to (a) IE or an IE Affiliate (where IE or such IE
Affiliate is the end-user of such Royalty-Bearing Product); or (b) a Third Party; or (c) Shell or a Shell Affiliate; in each case, in exchange for cash, or cash equivalent to which value can be assigned after production of the first
(i) [*] of Royalty-Bearing Product in the Intermediates Field, and (ii) [*] of Royalty-Bearing Product in the Liquid Fuels Field, and (iii) [*] of Royalty-Bearing Product in the Lubricants Field, in each of (i),
(ii) and (iii), by IE, an IE Affiliate, Shell, a Shell Affiliate and/or any of their respective sublicensees. 
 Section 1.02 “Index” means the [*]. In the event that such index becomes unavailable, the Parties will agree on an index to be used in substitution of such unavailable index within sixty (60) days after the
date that such index is no longer available. 
 Section 1.03 “Intermediates Field” means that portion of
the Fuels Field limited to the conversion of Biomass into fermentable sugars, such sugars to be converted into liquid fuel and/or liquid fuel additives and/or Lubricants. For purposes of clarification, the Intermediates Field shall not include the
Liquid Fuels Field or the Lubricants Field. 
 Section 1.04 “Intermediates Royalty” has the meaning set
forth in Section 2.01(a) of this Schedule 5.1(c). 
 Section 1.05 “Liquid Fuels Field” means that
portion of the Fuels Field limited to the conversion of fermentable sugars derived from Biomass into liquid fuel and/or liquid fuel additives. For purposes of clarification, the Liquid Fuels Field shall not include the Lubricants Field. 

Section 1.06 “Liquid Fuels Royalty” has the meaning set forth in Section 2.01(b) of this Schedule 5.1(c).

 Section 1.07 “Lubricants Field” means that portion of the Fuels Field limited to the conversion of
fermentable sugars derived from Biomass into Lubricants. For purposes of clarification, the Lubricants Field shall not include the Liquid Fuels Field. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has
been requested with respect to the omitted portions. 
  

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 Section 1.08 “Lubricants Royalty” has the meaning set forth in
Section 2.01(c) of this Schedule 5.1(c). 
 Section 1.09 “Monthly Index Average” means the sum of the
monthly values for the Index in the relevant period divided by the number of months in such period. 
 Section 1.10
“Royalty Adjustment Date” means the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field or each anniversary of such date, as the context requires. 
 Section 1.11 “Royalty-Bearing Product” means any product, the manufacture, use, offer for sale, sale or importation of
which (a) uses IE Jointly Invented Research Technology, but does not use any Codexis Introduced Program Technology or any Codexis Research Technology, in the Fuels Field; or (b) uses Codexis Introduced Program Technology, and/or Codexis
Research Technology, in the Fuels Field. 
 ARTICLE II 
 PAYMENT TERMS 
 Section 2.01
Consideration. 
 (a) Intermediates Royalty. IE shall pay to Codexis [*] per U.S. gallon of Royalty-Bearing
Product, where such Royalty-Bearing Product is sold or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Intermediates Field, by either IE or an IE Affiliate or an IE sublicensee
to (i) IE or an IE Affiliate (where IE or such IE Affiliate is the end-user of such Royalty-Bearing Product); or (ii) a Third Party; or (iii) Shell or a Shell Affiliate; in each case, after the First Royalty Sale (in all cases, the
“Intermediates Royalty”); provided that the Intermediates Royalty shall be adjusted on each Royalty Adjustment Date according to changes in the Index as set forth below: 
 (i) The initial adjustment shall be made on the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field
by multiplying the initial Intermediates Royalty by (A/B), where A = the Monthly Index Average during the most recent twelve (12) month period for which final, corrected data are available preceding the date of First Royalty Sale of such first
Royalty-Bearing Product in the Fuels Field, and B = the Monthly Index Average between November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing
Product. 
 (ii) After the year following the date of First Royalty Sale of the first Royalty-Bearing Product in the
Fuels Field, the Intermediates Royalty shall be adjusted annually on each Royalty Adjustment Date by multiplying the then-current Intermediates Royalty by (X/Y), where X = the Monthly Index Average during the most recent twelve (12) month
period preceding such Royalty Adjustment Date for which final, corrected data are available, and Y = the Monthly Index Average for the twelve

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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(12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date. 
 The adjustments to the Intermediates Royalty shall be rounded to the nearest [*]. The Intermediates Royalty obtained after each adjustment shall be
the Intermediates Royalty due from the applicable Royalty Adjustment Date until the subsequent Royalty Adjustment Date. 
 By way of example, if
the Monthly Index Average during the twelve (12) month period preceding the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field for which final, corrected data are available equals two hundred twenty
(220) and the Monthly Index Average between November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product equals two hundred (200), then the
Intermediates Royalty shall be adjusted by an amount equal to two hundred twenty divided by two hundred (220/200), or one point one (1.1), such that the Intermediates Royalty for the subsequent twelve (12) month period shall equal [*]
per U.S. gallon of Royalty-Bearing Product in the Intermediates Field times one point one (1.1), or [*] per U.S. gallon of Royalty-Bearing Product in the Intermediates Field. 
 By way of further example, if the Monthly Index Average during the most recent twelve (12) month period preceding the subsequent Royalty Adjustment Date for which final, corrected data are available
equals two hundred nine (209), and the Monthly Index Average for the twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment
Date equals two hundred twenty (220), then on such Royalty Adjustment Date the Intermediates Royalty shall be adjusted by an amount equal to two hundred nine divided by two hundred twenty (209/220), or zero point nine five (0.95), such that, if the
Intermediates Royalty on such Royalty Adjustment Date is equal to [*] per U.S. gallon, the Intermediates Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the
Intermediates Field times zero point nine five (0.95), or [*] per U.S. gallon of Royalty-Bearing Product in the Intermediates Field. 
 (b) Liquid Fuels Royalty. Subject to the last sentence of this paragraph, IE shall pay to Codexis [*] per U.S. gallon of Royalty-Bearing Product, where such Royalty-Bearing Product is sold
or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Liquid Fuels Field, by either IE or an IE Affiliate or a sublicensee to (i) IE or an IE Affiliate (where IE or such IE
Affiliate is the end-user of such Royalty-Bearing Product); or (ii) a Third Party; or (iii) Shell or a Shell Affiliate; in each case, after the First Royalty Sale (in all cases, the “Liquid Fuels Royalty”). Notwithstanding the
foregoing, IE and Codexis acknowledge and agree that as of the Effective Date, (A) there is insufficient data available to definitively determine the appropriate royalty rate for the manufacture, use, offer for sale, sale or importation of
Royalty-Bearing Product(s) in the Liquid Fuels Field and (B) Codexis and Shell US have therefore agreed to engage in good faith negotiations regarding such royalty on or before [*]. In the event that Codexis and Shell US agree on a
different rate for such royalty, Codexis and Shell US shall provide written notice

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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thereof to IE and such different royalty rate shall be deemed to be the Liquid Fuels Royalty for purposes of this Section 2.01(b) of this Schedule 5.1(c); provided, however,
that, if Codexis and Shell US are unable to agree upon the Liquid Fuels Royalty after such negotiations, the royalty rate shall equal [*] per U.S. gallon of Royalty-Bearing Product; provided, further, that the Liquid Fuels
Royalty shall be adjusted on each Royalty Adjustment Date according to changes in the Index as set forth below. 
 (i)
The initial adjustment shall be made on the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field by multiplying the initial Liquid Fuels Royalty by (A/B), where A = the Monthly Index Average during the most recent
twelve (12) month period for which final, corrected data are available preceding the date of First Royalty Sale of such first Royalty-Bearing Product in the Fuels Field, and B = the Monthly Index Average between November 1, 2007 and the
most recent date for which final data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product. 
 (ii) After the year following the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field, the Liquid Fuels Royalty shall be adjusted annually on each Royalty Adjustment Date by multiplying the then-current
Liquid Fuels Royalty by (X/Y), where X = the Monthly Index Average during the most recent twelve (12) month period preceding such Royalty Adjustment Date for which final, corrected data are available, and Y = the Monthly Index Average for the
twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date. 
 The adjustments to the Liquid Fuels Royalty shall be rounded to the nearest [*]. The Liquid Fuels Royalty obtained after each adjustment shall be the Liquid Fuels Royalty due from the applicable
Royalty Adjustment Date until the subsequent Royalty Adjustment Date. 
 By way of example, if the Monthly Index Average during the twelve
(12) month period preceding the date of First Royalty Sale of the first Royalty-Bearing Product in the Fuels Field for which final, corrected data are available equals two hundred twenty (220) and the Monthly Index Average between
November 1, 2007 and the most recent date for which final, corrected data are available prior to the date of First Royalty Sale of such Royalty-Bearing Product equals two hundred (200), then the Liquid Fuels Royalty shall be adjusted by an
amount equal to two hundred twenty divided by two hundred (220/200), or one point one (1.1), such that the Liquid Fuels Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the
Liquid Fuels Field times one point one (1.1), or [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field. 
 By way of
further example, if the Monthly Index Average during the most recent twelve (12) month period preceding the subsequent Royalty Adjustment Date for which final, corrected data are available equals two hundred nine (209), and the Monthly Index
Average for the twelve (12) month period beginning sixteen (16) months prior to such Royalty Adjustment Date and ending twenty-seven (27) months prior to such Royalty Adjustment Date equals two hundred twenty (220), then on such
Royalty Adjustment

  
 [*] Certain
information in this document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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Date the Liquid Fuels Royalty shall be adjusted by an amount equal to two hundred nine divided by two hundred twenty (209/220), or zero point nine five (0.95), such that, if the Liquid Fuels
Royalty on such Royalty Adjustment Date is equal to [*] per U.S. gallon, the Liquid Fuels Royalty for the subsequent twelve (12) month period shall equal [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field
times zero point nine five (0.95), or [*] per U.S. gallon of Royalty-Bearing Product in the Liquid Fuels Field. 
 (c)
Lubricants Royalty. IE and Codexis acknowledge and agree that (i) as of the Effective Date, there is insufficient data available to definitively determine the appropriate royalty rate for the manufacture, use, offer for sale, sale or
importation of Royalty-Bearing Product(s) in the Lubricants Field and (ii) Codexis and Shell US have therefore agreed to engage in good faith negotiations regarding such royalty. Upon agreement of such royalty rate between Codexis and Shell US
(including without limitation any periodic adjustments in such royalty rate, if applicable), Codexis and Shell US shall provide written notice thereof to IE and such royalty rate shall be deemed to be the royalty that IE shall pay to Codexis for
each Royalty-Bearing Product in the Lubricants Fields, where such Royalty-Bearing Product is sold or transferred in exchange for cash or cash equivalent or other consideration to which value can be assigned for use in the Lubricants Field, by either
IE or an IE Affiliate or an IE sublicensee to (A) IE or an IE Affiliate (where IE or such IE Affiliate is the end-user of such Royalty-Bearing Product); or (B) a Third Party; or (C) Shell or a Shell Affiliate; in each case, after the
First Royalty Sale (in all cases, the “Lubricants Royalty”). 
 (d) Notice of First Royalty Sale. IE
shall notify Codexis promptly, in writing, of the date of the First Royalty Sale for each Royalty-Bearing Product and, in the case where such First Royalty Sale is made by a sublicensee of IE or an IE Affiliate, the identity of such sublicensee.

 (e) Late Payment Interest. Any payment due and payable to Codexis under the terms and conditions of this
Schedule 5.1(c) made by IE after the date such payment is due to be paid shall bear interest as of the day after the date such payment was due to be paid and shall continue to accrue such interest until payment of the amount due is made. The
interest rate to be applied to any payment not paid when due shall be equal to the lesser of either (i) two percent (2%) above the prime rate as reported by Citibank, New York, New York, or, if Citibank, New York, ceases to report a prime
rate, a mutually acceptable commercial bank, on the date such payment was due to be paid, or (ii) the maximum rate permitted by applicable law on such date, and shall apply until the date that payment is issued by IE to Codexis. 
 Section 2.02 Payment Term. Unless otherwise terminated as provided herein, IE’s payment obligations to Codexis pursuant to
this Schedule 5.1(c) shall continue: 
 (a) In the Intermediates Field until the later of (i) twenty (20) years
after the First Royalty Sale of a Royalty-Bearing Product in the Intermediates Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly
Invented Research Technology; 
  
 [*] Certain information in this
document has been omitted and filed separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

 5 

 (b) In the Liquid Fuels Field until the later of (i) twenty (20) years
after the First Royalty Sale of a Royalty-Bearing Product in the Liquid Fuels Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly
Invented Research Technology; and 
 (c) In the Lubricants Field until the later of (i) twenty (20) years after
the First Royalty Sale of a Royalty-Bearing Product in the Lubricants Field or (ii) the expiration of the last to expire patent included in the Codexis Introduced Program Technology, the Codexis Research Technology and the IE Jointly Invented
Research Technology; 
 provided, however, termination of the payment term or expiration of the last to expire patent in any
Codexis Introduced Program Technology, Codexis Research Technology or IE Jointly Invented Research Technology shall have no effect on any license granted in this Agreement. 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

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 SCHEDULE 11.9 
 ARBITRATION RULES 
 1. Initiation of Arbitration. Upon notice
by any Party to this Agreement to the others (a “Notice to Arbitrate”), any Dispute under this Agreement shall be resolved by arbitration to be held in accordance with the then current Comprehensive Arbitration Rules and Procedures
(“Rules”) of JAMS (“Arbitration Authority”) and this provision. The arbitration shall be held in Denver, Colorado and, unless otherwise agreed by the Parties, all proceedings, hearings and steps in the arbitration
shall take place in Denver, Colorado. The language to be used in the arbitration proceedings shall be English. 
 2. Composition and
Selection of Arbitral Tribunal. The arbitral tribunal (the “Arbitral Tribunal”) shall be composed of one (1) arbitrator, to be selected as follows. Within five (5) business days following delivery of a Notice to
Arbitrate, each Party involved in the dispute shall submit to the Arbitration Authority a one-page summary of the dispute. Promptly thereafter, the Arbitration Authority shall prepare a list of ten (10) prospective arbitrators (the
“Arbitration List”), each of whom shall be independent of the Parties (including any Party that is not involved in the dispute) and shall have appropriate expertise relating to the subject matter of the dispute. The Parties agree
that an arbitrator does not have to be based in Denver to be eligible for inclusion on the Arbitration List. Each Party involved in the arbitration shall be entitled to strike the names of two persons from the Arbitration List by identifying such
names to the Arbitration Authority within ten (10) business days following such Party’s receipt of the Arbitration List. Promptly after the Parties have exercised (or declined to exercise) their rights to strike names from the Arbitration
List, the Arbitration Authority shall appoint the sole arbitrator from the arbitrators who have not been stricken by any of the Parties to the dispute. 
 3. Confidentiality of Proceedings. The arbitration proceedings shall be deemed the Confidential Information of all Parties involved in the arbitration and shall be treated by each Party in
accordance with Article 7 of the Agreement. Subject to the requirements and limitations of Article 7 of the Agreement, any Confidential Information provided by a Party during the arbitration or by any witness presented by such Party shall be treated
as the Confidential Information of the disclosing Party and no Party shall disclose or use such Confidential Information beyond the scope of the arbitration proceeding. 
 4. Powers of Arbitral Tribunal. By submitting to arbitration under these Rules, the Parties shall be taken to have conferred on the Arbitral Tribunal the subject matter jurisdiction and powers set
out in this Schedule 11.8. The Arbitral Tribunal will exercise subject matter jurisdiction and the powers as provided in the Rules and this Schedule 11.8. Without limiting the powers of the Arbitral Tribunal, the Parties agree that the Arbitral
Tribunal may: 
 (a) proceed in the arbitration even if a Party to the arbitration fails or refuses to comply with the Rules or
with the Arbitral Tribunal’s orders or directions, or to attend any meeting or hearing, but only after giving that Party written notice that the Arbitral Tribunal intends to do so; 
  
 [*] Certain information in this document has been omitted and filed separately with the Securities and Exchange Commission.
Confidential treatment has been requested with respect to the omitted portions. 
  

 1 

 (b) receive and take into account such written and oral evidence, including without
limitation, written interrogatories, tendered by the Parties to the arbitration as the Arbitral Tribunal determines is relevant, whether or not strictly admissible in law; 
 (c) order the Parties to the arbitration and their Affiliates to produce to the Arbitral Tribunal, and to each other for inspection, and to
supply copies of, any documents or classes of documents in the possession or control of such Party or any of their Affiliates which the Arbitral Tribunal determines to be relevant (taking into account such submissions of the Parties as the Arbitral
Tribunal may determine to hear); and 
 (d) order the Parties to the arbitration and their Affiliates to preserve evidence in
any manner the Arbitral Tribunal may determine to be necessary, including by way of the preservation or storage of any property, documents or things under the control of the Parties. 
 5. Awards. The arbitrator(s) shall determine the claim of the Parties and render a final award in accordance with the substantive law of the State of New York, excluding the conflicts provisions of
such law. The Arbitral Tribunal shall render an opinion within fifteen (15) business days after the final hearing before the Arbitral Tribunal, and within six (6) months from the appointment of the Arbitral Tribunal, whichever occurs last;
provided, however, that this six-month deadline may be extended by agreement of the Parties to the arbitration or upon an express finding by the Arbitral Tribunal that it would be impracticable to meet this deadline. Any and all awards of the
Arbitral Tribunal shall be made in writing in accordance with the Rules and shall be final and binding on the Parties. The Arbitral Tribunal shall set forth the reasons for the award in writing. Each of the Parties expressly excludes all and any
rights of appeal from all and any awards. Any award may be entered or enforced in any court of competent jurisdiction against a Party named in the award. All and any awards may include an award of costs (including, without limitation, the fees of
counsel and any other professional advisors retained by the Parties in connection with the dispute), which shall be fixed by the Arbitral Tribunal. The terms of this Schedule 11.8 shall not limit any obligations of a Party to defend, indemnify or
hold harmless another Party against court proceedings or other claims, losses damages or expenses. Notwithstanding anything herein to the contrary, a Party may seek a temporary restraining order or a preliminary injunction from any court of
competent jurisdiction in order to prevent immediate and irreparable injury, loss, or damage on a provisional basis, pending the decision of the arbitrator on the ultimate merits of any dispute. 
  
 [*] Certain information in this document has been omitted and filed
separately with the Securities and Exchange Commission. Confidential treatment has been requested with respect to the omitted portions. 
  

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