Document:

EX-4.3

 Exhibit 4.3 

FIRST LIEN/FIRST LIEN INTERCREDITOR AGREEMENT 

dated as of 
 April 21, 2021

 among 
 JPMORGAN CHASE BANK,
N.A., 
 as Credit Facility Agent, 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Initial Other Authorized Representative, 

each additional Authorized Representative from time to time party hereto, 

and consented to by each Grantor from time to time party hereto 

 TABLE OF CONTENTS 

 

							
	 	 	 	  	PAGE	 
	 ARTICLE 1
	  

	 DEFINITIONS
	 		  	 	1	 
			
	 Section 1.01.
	 	Construction; Certain Defined Terms	  	 	1	 
	
	 ARTICLE 2
	  

	 PRIORITIES AND AGREEMENTS
WITH RESPECT TO COMMON COLLATERAL
	  	 	10	 
			
	 Section 2.01.
	 	Priority of Claims	  	 	10	 
	 Section 2.02.
	 	Actions with Respect to Common Collateral; Prohibition on Contesting Liens	  	 	12	 
	 Section 2.03.
	 	No Interference; Payment Over	  	 	13	 
	 Section 2.04.
	 	Automatic Release of Liens; Amendments to First-Priority Collateral Documents	  	 	14	 
	 Section 2.05.
	 	Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings	  	 	15	 
	 Section 2.06.
	 	Reinstatement	  	 	16	 
	 Section 2.07.
	 	Insurance	  	 	16	 
	 Section 2.08.
	 	Refinancings	  	 	17	 
	 Section 2.09.
	 	Possessory Collateral, Control Collateral and Controlling Authorized Representative as Gratuitous Bailee/Agent for Perfection	  	 	17	 
	
	 ARTICLE 3
	  

	 EXISTENCE AND AMOUNTS OF
LIENS AND OBLIGATIONS 
	  	 	18	 
	
	 ARTICLE 4
	  

	 THE CONTROLLING AUTHORIZED
REPRESENTATIVE 
	  	 	18	 
			
	 Section 4.01.
	 	Appointment and Authority	  	 	18	 
	 Section 4.02.
	 	Rights as a First-Priority Secured Party	  	 	19	 
	 Section 4.03.
	 	Exculpatory Provisions	  	 	20	 
	 Section 4.04.
	 	Reliance by Controlling Authorized Representative	  	 	21	 
	 Section 4.05.
	 	Delegation of Duties	  	 	22	 
	 Section 4.06.
	 	Non-Reliance on Controlling Authorized Representative and Other First-Priority Secured Parties	  	 	22	 
	 Section 4.07.
	 	Collateral and Guaranty Matters	  	 	22	 
	
	 ARTICLE 5
	  

	 MISCELLANEOUS 
	  	 	23	 
			
	 Section 5.01.
	 	Notices	  	 	23	 
	 Section 5.02.
	 	Waivers; Amendment; Joinder Agreements	  	 	23	 
	 Section 5.03.
	 	Parties in Interest	  	 	24	 
	 Section 5.04.
	 	Survival of Agreement	  	 	24	 
	 Section 5.05.
	 	Counterparts	  	 	24	 

  
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	 Section 5.06.
	 	Severability	  	 	25	 
	 Section 5.07.
	 	Governing Law	  	 	25	 
	 Section 5.08.
	 	Submission to Jurisdiction; Waivers	  	 	25	 
	 Section 5.09.
	 	WAIVER OF JURY TRIAL	  	 	26	 
	 Section 5.10.
	 	Headings	  	 	26	 
	 Section 5.11.
	 	Conflicts	  	 	26	 
	 Section 5.12.
	 	Provisions Solely to Define Relative Rights	  	 	26	 
	 Section 5.13.
	 	Authorized Representatives	  	 	26	 
	 Section 5.14.
	 	Other First-Priority Obligations	  	 	27	 
	 Section 5.15.
	 	Junior Lien Intercreditor Agreements	  	 	28	 

 Annexes and Exhibits 
  

			
	Annex A	  	Consent of Grantors
	Annex B	  	Joinder

  
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 This FIRST LIEN/FIRST LIEN INTERCREDITOR AGREEMENT (as amended, restated, modified or
supplemented from time to time, this “Agreement”), dated as of April 21, 2021, is among JPMORGAN CHASE BANK, N.A. (“JPMorgan”), as collateral agent for the Credit Agreement Secured Parties (in such capacity and
together with its successors in such capacity, the “Credit Facility Agent”), DEUTSCHE BANK TRUST COMPANY AMERICAS, as collateral agent for the Initial Other First-Priority Secured Parties (in such capacity and together with its
successors in such capacity, the “Initial Other Authorized Representative”), and each additional Authorized Representative from time to time party hereto for the Other First-Priority Secured Parties of the Series with respect to
which it is acting in such capacity, as consented to by the Grantors in the Consent of Grantors. 
 In consideration of the mutual
agreements herein contained and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Credit Facility Agent (for itself and on behalf of the Credit Agreement Secured Parties), the Initial Other
Authorized Representative (for itself and on behalf of the Initial Other First-Priority Secured Parties) and each additional Authorized Representative (for itself and on behalf of the Other First-Priority Secured Parties of the applicable Series)
agree as follows: 
 ARTICLE 1 

DEFINITIONS 

Section 1.01. Construction; Certain Defined Terms. (a) The definitions of terms herein shall apply equally to the singular
and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed
to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise, (i) any definition of or
reference to any agreement, instrument, other document, statute or regulation herein shall be construed as referring to such agreement, instrument, other document, statute or regulation as from time to time amended, supplemented or otherwise
modified, (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, but shall not be deemed to include the subsidiaries of such Person unless express reference is made to such subsidiaries,
(iii) the words “herein”, “hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (iv) unless otherwise
expressly stated herein, all references herein to Articles, Sections and Annexes shall be construed to refer to Articles, Sections and Annexes of this Agreement, (v) unless otherwise expressly qualified herein, the words “asset” and
“property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (vi) the term “or” is
not exclusive. 

 (b) It is the intention of the First-Priority Secured Parties of each Series that the
holders of First-Priority Obligations of such Series (and not the First-Priority Secured Parties of any other Series) bear the risk of (i) any determination by a court of competent jurisdiction that (x) any of the First-Priority
Obligations of such Series are unenforceable under applicable law or are subordinated to any other obligations (other than another Series of First-Priority Obligations), (y) any of the First-Priority Obligations of such Series do not have a valid
and perfected security interest in any of the Collateral securing any other Series of First-Priority Obligations and/or (z) any intervening security interest exists securing any other obligations (other than another Series of First-Priority
Obligations and, without limiting the foregoing, after taking into account the effect of any applicable intercreditor agreements) on a basis ranking prior to the security interest of such Series of First-Priority Obligations but junior to the
security interest of any other Series of First-Priority Obligations or (ii) the existence of any Collateral for any other Series of First-Priority Obligations that is not Common Collateral (any such condition referred to in the foregoing
clauses (i) or (ii) with respect to any Series of First-Priority Obligations, an “Impairment” of such Series). In the event of any Impairment with respect to any Series of First-Priority Obligations, the results of such
Impairment shall be borne solely by the holders of such Series of First-Priority Obligations, and the rights of the holders of such Series of First-Priority Obligations (including, without limitation, the right to receive distributions in respect of
such Series of First-Priority Obligations pursuant to Section 2.01) set forth herein shall be modified to the extent necessary so that the effects of such Impairment are borne solely by the holders of the Series of such First-Priority
Obligations subject to such Impairment. Additionally, in the event the First-Priority Obligations of any Series are modified pursuant to applicable law (including, without limitation, pursuant to Section 1129 of the Bankruptcy Code), any
reference to such First-Priority Obligations or the Secured Credit Documents governing such First-Priority Obligations shall refer to such obligations or such documents as so modified. 

(c) Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Credit Agreement. As used in this
Agreement, the following terms have the meanings specified below: 
 “Additional First-Priority Agent” has the meaning
assigned to such term in Section 5.14(b). 
 “Additional First-Priority Agreements” has the meaning assigned to such
term in Section 5.14(b). 
 “Agreement” has the meaning assigned to such term in the introductory paragraph of this
Agreement. 
 “Authorized Representative” means (i) in the case of any Credit Agreement Obligations or the Credit
Agreement Secured Parties, the Credit Facility Agent, (ii) in the case of the Initial Other First-Priority Obligations or the Initial Other First-Priority Secured Parties, the Initial Other Authorized Representative and (iii) in the case
of any Series of Other First-Priority Obligations or Other First-Priority Secured Parties that become subject to this Agreement after the date hereof, the Person named as the Additional First-Priority Agent for such Series in the applicable Joinder
Agreement. 
 “Bankruptcy Case” has the meaning assigned to such term in Section 2.05(b). 

  
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 “Bankruptcy Code” means title 11 of the United States Code, as amended.

 “Bankruptcy Law” means the Bankruptcy Code and any similar federal, state or foreign law for the relief of debtors. 

“Cash Management Obligations” means, with respect to any Person, all obligations, whether now owing or hereafter arising, of
such Person in respect of commercial credit or debit card, merchant card, or purchasing card programs (including non-card e-payables services), or treasury, depositary
or cash management services (including any automated clearing house transfer of funds, overdraft, controlled disbursement, electronic funds transfer, lockbox, stop payment, return item and wire transfer services), and including any other services or
transactions of the type referred to in the definition of “Deposit Obligations” in the Credit Agreement. 

“Collateral” means all assets and properties subject to Liens created pursuant to any First-Priority Collateral Document to
secure one or more Series of First-Priority Obligations. 
 “Common Collateral” means, at any time, such portion of the
Collateral in which the holders of two or more Series of First-Priority Obligations (or their respective Authorized Representatives) hold a valid and perfected security interest at such time; provided that collateral consisting of cash and
cash equivalents pledged to secure Credit Agreement Obligations consisting of reimbursement obligations in respect of letters of credit or otherwise held by the administrative agent thereunder pursuant to Section 2.05 of the Credit Agreement
(or any Equivalent Provision) shall be applied as specified in the Credit Agreement or such Equivalent Provision and will not constitute Common Collateral. If more than two Series of First-Priority Obligations are outstanding at any time and the
holders of less than all Series of First-Priority Obligations hold a valid and perfected security interest in any portion of the Collateral at such time, then such portion of the Collateral shall constitute Common Collateral for those Series of
First-Priority Obligations that hold a valid and perfected security interest in such portion of the Collateral at such time and shall not constitute Common Collateral for any Series which does not have a valid and perfected security interest in such
portion of the Collateral at such time. 
 “Consent of Grantors” means the Consent of Grantors in the form of Annex A
attached hereto. 
 “Control Collateral” means any Common Collateral in the control of the Controlling Authorized
Representative (or its agents or bailees), to the extent that control thereof perfects a Lien thereon under the Uniform Commercial Code of any jurisdiction or otherwise. Control Collateral includes, without limitation, Deposit Accounts, Electronic
Chattel Paper, Investment Property or Letter-of-Credit Rights. All capitalized terms used in this definition and not defined elsewhere in this Agreement have the
meanings assigned to them in the New York UCC. 

  
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 “Controlled” 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 ownership of voting securities, by contract or otherwise. 

“Controlling Authorized Representative” means, with respect to any Common Collateral, (i) until the earlier of
(x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Credit Facility Agent and (ii) from and after the earlier of
(x) the Discharge of Credit Agreement Obligations and (y) the Non-Controlling Authorized Representative Enforcement Date, the Major Non-Controlling Authorized
Representative; provided, in each case, that if there shall occur one or more Non-Controlling Authorized Representative Enforcement Dates, the Controlling Authorized Representative shall be the
Authorized Representative that is the Major Non-Controlling Authorized Representative in respect of the most recent Non-Controlling Authorized Representative Enforcement
Date. 
 “Controlling Secured Parties” means, with respect to any Common Collateral, the Series of First-Priority Secured
Parties whose Authorized Representative is the Controlling Authorized Representative for such Common Collateral. 
 “Credit
Agreement” means that certain Amended and Restated Credit Agreement, dated as of April 5, 2018, among Parent, Coty B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid)
incorporated under the laws of the Netherlands, the lenders party thereto from time to time, the Credit Facility Agent, as administrative agent and the other parties thereto from time to time, as amended, restated, supplemented or otherwise
modified, refinanced or replaced from time to time, including, in the event such Credit Agreement is terminated or replaced and Parent subsequently enters into any “Credit Facilities” (as defined in the Initial Other First-Priority
Agreement), the Credit Agreement designated by Parent to be the “Credit Agreement” hereunder. 
 “Credit Agreement
Collateral Agreement” means that certain Pledge and Security Agreement dated as of October 27, 2015, by and among Parent, the other Grantors party thereto and the Credit Facility Agent, as amended, modified, supplemented, replaced or
restated from time to time. 
 “Credit Agreement Collateral Documents” means the Credit Agreement Collateral Agreement and
the other “Security Documents” as defined in the Credit Agreement. 
 “Credit Agreement Documents” means
the Credit Agreement and the other “Loan Documents” as defined in the Credit Agreement. 
 “Credit Agreement
Obligations” means all “Obligations” (as such term is defined in the Credit Agreement) of Parent and other obligors under the Credit Agreement or any of the other Credit Agreement Documents with respect to any Loan or Letter of
Credit and including, for the avoidance of doubt, any Swap Obligations and Deposit Obligations (each as defined in the Credit Agreement). 

  
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 “Credit Agreement Secured Parties” means the “Secured
Parties” as defined in the Credit Agreement. 
 “Credit Facility Agent” has the meaning assigned to such term in
the introductory paragraph of this Agreement, together with its successors and assigns. 
 “DIP Financing” has the meaning
assigned to such term in Section 2.05(b). 
 “DIP Financing Liens” has the meaning assigned to such term in
Section 2.05(b). 
 “DIP Lenders” has the meaning assigned to such term in Section 2.05(b). 

“Discharge” means, with respect to any Common Collateral and any Series of First-Priority Obligations, the date on which such
Series of First-Priority Obligations is no longer secured by, and no longer required to be secured by, such Common Collateral. The term “Discharged” has a corresponding meaning. 

“Discharge of Credit Agreement Obligations” means, with respect to any Common Collateral, the Discharge of the Credit
Agreement Obligations (other than any contingent “Obligations” as defined in and under the Credit Agreement in respect of which no claim has been made) with respect to such Common Collateral; provided that the Discharge of
Credit Agreement Obligations shall not be deemed to have occurred in connection with a Refinancing of such Credit Agreement Obligations or an incurrence of future Credit Agreement Obligations with additional First-Priority Obligations secured by
such Common Collateral under an Other First-Priority Agreement which has been designated in writing by Parent to the Controlling Authorized Representative and each other Authorized Representative as the “Credit Agreement” for
purposes of this Agreement. 
 “Equivalent Provision” means, with respect to any reference to a specific provision of an
agreement in effect on the date hereof (the “original agreement”), if such agreement is amended, restated, supplemented, modified or replaced after the date hereof in a manner permitted hereby, the provision in such amended,
restated, supplemented, modified or replacement agreement that is the equivalent to such specific provision in such original agreement. 

“Event of Default” means an “Event of Default” under and as defined in the Credit Agreement or any Other
First-Priority Agreement (or, in each case, the Equivalent Provision thereof). 
 “First-Priority Cash Management
Obligations” means any Cash Management Obligations secured by any Common Collateral under the First-Priority Collateral Documents. 

“First-Priority Collateral Documents” means any agreement, instrument or document entered into in favor of the applicable
Authorized Representative for the holders of any Series of First-Priority Obligations for purposes of securing such Series of First-Priority Obligations. 

  
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 “First-Priority Hedging Obligations” means any Hedging Obligations secured
by any Common Collateral under the First-Priority Collateral Documents. 
 “First-Priority Obligations” means,
collectively, (i) the Credit Agreement Obligations, (ii) each Series of Other First-Priority Obligations and (iii) any other First-Priority Hedging Obligations and First-Priority Cash Management Obligations (which shall be deemed to
be part of the Series of Other First-Priority Obligations to which they relate to the extent provided in the applicable Other First-Priority Agreement); provided that First-Priority Obligations with respect to the Initial Other First-Priority
Obligations shall not include fees or indemnifications in favor of third parties other than the Initial Other Authorized Representative and the Initial Other First-Priority Secured Parties. 

“First-Priority Secured Parties” means the Persons holding any First-Priority Obligations, including (a) the Credit
Agreement Secured Parties and (ii) the Other First-Priority Secured Parties with respect to each Series of Other First-Priority Obligations. 

“Grantors” means Parent and each of the Subsidiaries of Parent that has executed and delivered a First-Priority Collateral
Document as a grantor thereunder unless and until such Subsidiary is released from its obligations under such First-Priority Collateral Documents. 

“Hedging Obligations” means, with respect to any Person, the obligations of such Person under Swap Contracts, including any
obligations of the type referred to in the definition of “Swap Agreement” in the Credit Agreement. 

“Impairment” has the meaning assigned to such term in Section 1.01(b). 

“Initial Other Authorized Representative” has the meaning assigned to such term in the introductory paragraph to this
Agreement. 
 “Initial Other First-Priority Agreement” means that certain Indenture, dated as of April 21, 2021, among
Parent, as issuer, the guarantors named therein, Deutsche Bank Trust Company Americas, as trustee and collateral agent, as amended, modified, supplemented, replaced or refinanced from time to time. 

“Initial Other First-Priority Obligations” means the “Secured Obligations” as defined in the Notes
Collateral Agreement. 
 “Initial Other First-Priority Secured Parties” means the holders of any Initial Other
First-Priority Obligations and the Initial Other Authorized Representative. 
 “Insolvency or Liquidation Proceeding”
means: 
 (1) any case commenced by or against Parent or any other Grantor under any Bankruptcy Law, any other proceeding for
the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of Parent or any other Grantor, any receivership or assignment for the benefit of creditors relating to Parent or any other Grantor or any similar case or
proceeding relative to Parent or any other Grantor or its creditors, as such, in each case whether or not voluntary; 

  
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 (2) any liquidation, dissolution, marshalling of assets or liabilities or
other winding up of or relating to Parent or any other Grantor, in each case whether or not voluntary and whether or not involving bankruptcy or insolvency (except for any voluntary liquidation, dissolution or other winding up to the extent
permitted by the applicable Secured Credit Documents); or 
 (3) any other proceeding of any type or nature in which
substantially all claims of creditors of Parent or any other Grantor are determined and any payment or distribution is or may be made on account of such claims. 

“Intervening Creditor” has the meaning assigned to such term in Section 2.01(a). 

“Joinder Agreement” means a supplement to this agreement substantially in the form of Annex B, appropriately completed. 

“JPMorgan” has the meaning assigned to such term in the introductory paragraph of this Agreement. 

“Lien” means, with respect to any asset, any mortgage, deed of trust, lien (statutory or otherwise), pledge, hypothecation,
charge, security interest or encumbrance of any kind in respect of such asset, including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or similar agreement to sell or give a security interest in
and any filing of or agreement to give any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction (other than such financing statement or similar notices filed for informational or precautionary purposes
only); provided, that in no event shall an operating lease be deemed to constitute a Lien. 
 “Major Non-Controlling Authorized Representative” means, with respect to any Common Collateral, the Authorized Representative of the Series of Other First-Priority Obligations that constitutes the largest
outstanding principal amount of any then outstanding Series of Other First-Priority Obligations with respect to such Common Collateral; provided, however, that if there are two outstanding Series of Other First-Priority Obligations
which have an equal outstanding principal amount, the Series of Other First-Priority Obligations with the earlier maturity date shall be considered to have the larger outstanding principal amount for purposes of this definition, and if such Series
of Other First-Priority Obligations have the same maturity date, the Major Non-Controlling Authorized Representative shall be determined by vote of the holders of such Series of Other First-Priority
Obligations constituting a majority of the amount of such Series of Other First-Priority Obligations. 
 “New York UCC”
means the Uniform Commercial Code as from time to time in effect in the State of New York. 

  
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 “Non-Controlling Authorized
Representative” means any Authorized Representative that is not the Controlling Authorized Representative at such time with respect to such Common Collateral. 

“Non-Controlling Authorized Representative Enforcement Date” means, with respect to
any Non-Controlling Authorized Representative, the date which is 180 days (throughout which 180 day period such Non-Controlling Authorized Representative was the Major Non-Controlling Authorized Representative) after the occurrence of both (i) an Event of Default (under and as defined in the Other First-Priority Agreement under which such
Non-Controlling Authorized Representative is the Authorized Representative) and (ii) the Controlling Authorized Representative’s and each other Authorized Representative’s receipt of written
notice from such Non-Controlling Authorized Representative certifying that (x) such Non-Controlling Authorized Representative is the Major Non-Controlling Authorized Representative and that an Event of Default (under and as defined in the Other First-Priority Agreement under which such Non-Controlling Authorized
Representative is the Authorized Representative) has occurred and is continuing and (y) the First-Priority Obligations of the Series with respect to which such Non-Controlling Authorized Representative is
the Authorized Representative are currently due and payable in full (whether as a result of acceleration thereof or otherwise) in accordance with the terms of the applicable Other First-Priority Agreement; provided that the Non-Controlling Authorized Representative Enforcement Date shall be stayed and shall not occur and shall be deemed not to have occurred with respect to any Common Collateral (1) at any time the Controlling
Authorized Representative has commenced and is diligently pursuing any enforcement action with respect to such Common Collateral or (2) at any time the Grantor that has granted a security interest in such Common Collateral is then a debtor
under or with respect to (or otherwise subject to) any Insolvency or Liquidation Proceeding. 

“Non-Controlling Secured Parties” means, with respect to any Common Collateral, the
First-Priority Secured Parties which are not Controlling Secured Parties with respect to such Common Collateral. 
 “Notes
Collateral Agreement” means the Pledge and Security Agreement dated as of the date hereof among Parent, the other Grantors party thereto, and the Initial Other Authorized Representative, as amended, modified, supplemented, replaced or
restated from time to time. 
 “Other First-Priority Agreement” means (i) the Initial Other First-Priority Agreement
and (y) each Additional First-Priority Agreement. 
 “Other First-Priority Obligations” means (i) the Initial
Other First-Priority Obligations and (ii) all obligations of the Grantors that shall have been designated as such pursuant to Section 5.14. 

“Other First-Priority Secured Party” means the holders of any Other First-Priority Obligations and any Authorized
Representative with respect thereto and includes the Initial Other First-Priority Secured Parties. 

  
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 “Parent” means Coty, Inc., a Delaware corporation. 

“Person” means any natural person, corporation, business trust, joint venture, association, company, partnership, limited
liability company or government, individual or family trusts, or any agency or political subdivision thereof. 
 “Possessory
Collateral” means any Common Collateral in the possession of the Controlling Authorized Representative (or its agents or bailees), to the extent that possession thereof perfects a Lien thereon under the Uniform Commercial Code of any
jurisdiction or otherwise. Possessory Collateral includes, without limitation, any Certificated Securities, Promissory Notes, Instruments, and Chattel Paper, in each case, delivered to or in the possession of the Controlling Authorized
Representative under the terms of the First-Priority Collateral Documents. All capitalized terms used in this definition and not defined elsewhere in this Agreement have the meanings assigned to them in the New York UCC. 

“Proceeds” has the meaning assigned to such term in Section 2.01(a). 

“Refinance” means, in respect of any indebtedness, to refinance, extend, renew, defease, amend, increase, modify, supplement,
restructure, refund, replace or repay, or to issue other indebtedness or enter alternative financing arrangements, in exchange or replacement for such indebtedness (in whole or in part), including by adding or replacing lenders, creditors, agents,
borrowers and/or guarantors, and including in each case, but not limited to, after the original instrument giving rise to such indebtedness has been terminated and including, in each case, through any credit agreement, indenture or other agreement.
“Refinanced” and “Refinancing” have correlative meanings. 
 “Required Holders” means,
with respect to any Secured Credit Document, those First-Priority Secured Parties the approval of which is required to approve an amendment or modification, termination or waiver of any provision of or consent to any departure from such Secured
Credit Document (or which would be required to effect such consent under this Agreement if such consent were treated as an amendment of such Secured Credit Document). 

“Secured Credit Document” means (i) the Credit Agreement, (ii) the Initial Other First-Priority Agreement and
(iii) each Additional First-Priority Agreement. 
 “Series” means (a) with respect to the First-Priority Secured
Parties, each of (i) the Credit Agreement Secured Parties (in their capacities as such), (ii) the Initial Other First-Priority Secured Parties (in their capacities as such) and (iii) the Other First-Priority Secured Parties that become
subject to this Agreement after the date hereof that are represented by a common Authorized Representative (in its capacity as such for such Other First-Priority Secured Parties) and (b) with respect to any First-Priority Obligations, each of
(i) the Credit Agreement Obligations, (ii) the Initial Other First-Priority Obligations and (iii) the Other First-Priority Obligations incurred pursuant to any Other First-Priority Agreement (other than the Initial Other
First-Priority Agreement), which pursuant to any Joinder Agreement, are to be represented hereunder by a common Authorized Representative (in its capacity as such for such Other First-Priority Obligations). 

  
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 “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 swaps and 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. 
 ARTICLE 2 

PRIORITIES AND AGREEMENTS WITH RESPECT TO
COMMON COLLATERAL 
 Section 2.01. Priority of Claims. (a) Anything contained herein or in
any of the Secured Credit Documents to the contrary notwithstanding (but subject to Section 1.01(b)), if an Event of Default has occurred and is continuing, and the Controlling Authorized Representative or any First-Priority Secured Party is
taking action to enforce rights in respect of any Common Collateral, or any distribution is made in respect of any Common Collateral in any Bankruptcy Case of any Grantor or any First-Priority Secured Party receives any payment pursuant to any
intercreditor agreement (other than this Agreement) with respect to any Common Collateral, the proceeds of any sale, collection or other liquidation of any such Collateral by any First-Priority Secured Party are received by the Controlling
Authorized Representative or any First-Priority Secured Party pursuant to any such intercreditor agreement with respect to such Common Collateral and proceeds of any such distribution (subject, in the case of any such distribution, to the sentence
immediately following) to which the First-Priority Obligations are entitled under any intercreditor agreement (other than this Agreement) (all proceeds of any sale, collection or other liquidation of any Collateral and all proceeds of any such
distribution being collectively referred to as “Proceeds”), shall be applied by the Controlling Authorized Representative as follows:

FIRST, to the payment of all reasonable fees, costs and expenses incurred by the Controlling Authorized Representative in
connection with such collection or sale or otherwise in connection with this Agreement, or any other First-Priority Collateral Document or any of the First-Priority Obligations, including all court costs and the reasonable fees and expenses of its
agents, professional advisors and 

  
 10 

 
legal counsel, the repayment of all advances made by the Controlling Authorized Representative hereunder or under any other First-Priority Collateral Document on behalf of the Grantors, if any,
and any other reasonable costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other First-Priority Collateral Document; 

SECOND, to the payment of all reasonable fees, costs and expenses incurred by the Authorized Representatives (other than the
Authorized Representative that is the Controlling Authorized Representative) in connection with such collection or sale or otherwise in connection with this Agreement, or any other First-Priority Collateral Document or any of the First-Priority
Obligations, including all court costs and the reasonable fees and expenses of its agents, professional advisors and legal counsel, the repayment of all advances made by such Authorized Representatives hereunder or under any other First-Priority
Collateral Document on behalf of the Grantors, if any, and any other reasonable costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other First-Priority Collateral Document; 

THIRD, subject to Section 1.01(b), to the payment in full of the First-Priority Obligations of each Series on a ratable
basis, with such Proceeds to be applied to the First-Priority Obligations of a given Series in accordance with the terms of the applicable Secured Credit Documents; and 

FOURTH, to the Grantors or their successors or assigns, or as a court of competent jurisdiction may otherwise direct. 

Notwithstanding the foregoing, with respect to any Common Collateral for which a third party (other than a First-Priority Secured Party and,
without limiting the foregoing, after taking into account the effect of any applicable intercreditor agreements) has a lien or security interest that is junior in priority to the security interest of any Series of First-Priority Obligations but
senior (as determined by appropriate legal proceedings in the case of any dispute) to the security interest of any other Series of First-Priority Obligations (such third party an “Intervening Creditor”), the value of any Common
Collateral or Proceeds which are allocated to such Intervening Creditor shall be deducted on a ratable basis solely from the Common Collateral or Proceeds to be distributed in respect of the Series of First-Priority Obligations with respect to which
such Impairment exists. 
 (b) It is acknowledged that the First-Priority Obligations of any Series may, subject to the limitations set forth
in the then extant Secured Credit Documents, be increased, extended, renewed, replaced, restated, supplemented, restructured, repaid, refunded, Refinanced or otherwise amended or modified from time to time, all without affecting the priorities set
forth in Section 2.01(a) or the provisions of this Agreement defining the relative rights of the First-Priority Secured Parties of any Series. 

  
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 (c) Notwithstanding the date, time, method, manner or order of grant, attachment or
perfection of any Liens securing any Series of First-Priority Obligations granted on the Common Collateral and notwithstanding any provision of the Uniform Commercial Code of any jurisdiction, or any other applicable law or the Secured Credit
Documents or any defect or deficiencies in the Liens securing the First-Priority Obligations of any Series or any other circumstance whatsoever (but, in each case, subject to Section 1.01(b) hereof), each First-Priority Secured Party hereby
agrees that the Liens securing each Series of First-Priority Obligations on any Common Collateral shall be of equal priority. 

Section 2.02. Actions with Respect to Common Collateral; Prohibition on Contesting Liens. (a) With respect to any Common
Collateral, (i) notwithstanding Section 2.01, only the Controlling Authorized Representative shall act or refrain from acting with respect to the Common Collateral (including with respect to any intercreditor agreement with respect to any
Common Collateral) and then only on the instructions of the requisite Controlling Secured Parties under the applicable Secured Credit Document and (ii) no other Authorized Representative or
Non-Controlling Authorized Representative or other First-Priority Secured Party (other than the Controlling Secured Parties) shall or shall instruct the Controlling Authorized Representative to, commence any
judicial or nonjudicial foreclosure proceedings with respect to, seek to have a trustee, receiver, liquidator or similar official appointed for or over, attempt any action to take possession of, exercise any right, remedy or power with respect to,
or otherwise take any action to enforce its security interest in or realize upon, or take any other action available to it in respect of, any Common Collateral (including with respect to any intercreditor agreement with respect to any Common
Collateral), whether under any First-Priority Collateral Document, applicable law or otherwise, it being agreed that only the Controlling Authorized Representative, acting on the instructions of the requisite Controlling Secured Parties under the
applicable Secured Credit Document and in accordance with the applicable First-Priority Collateral Documents, shall be entitled to take any such actions or exercise any such remedies with respect to Common Collateral. Notwithstanding the equal
priority of the Liens, the Controlling Authorized Representative may deal with the Common Collateral as if such Controlling Authorized Representative had a senior Lien on such Collateral. No Non-Controlling
Authorized Representative or Non-Controlling Secured Party will contest, protest or object to any foreclosure proceeding or action brought by the Controlling Authorized Representative or the Controlling
Secured Parties or any other exercise by the Controlling Authorized Representative or the Controlling Secured Parties of any rights and remedies relating to the Common Collateral or to cause the Controlling Authorized Representative to do so. The
foregoing shall not be construed to limit the rights and priorities of any First-Priority Secured Party, Controlling Authorized Representative or any Authorized Representative with respect to any Collateral not constituting Common Collateral. 

(b) Each of the Authorized Representatives agrees that it will not accept any Lien on any Common Collateral for the benefit of any Series of
First-Priority Obligations (other than funds deposited for the discharge or defeasance of any Other First-Priority Agreement) other than pursuant to the First-Priority Collateral Documents and, by executing this Agreement (or a Joinder Agreement),
each Authorized Representative and the Series of First-Priority Secured Parties for which it is acting hereunder agree to be bound by the provisions of this Agreement and the other First-Priority Collateral Documents applicable to it. 

  
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 (c) Each of the First-Priority Secured Parties agrees that it will not (and hereby waives
any right to) contest or support any other Person in contesting, in any proceeding (including any Insolvency or Liquidation Proceeding), the perfection, priority, validity or enforceability of a Lien held by or on behalf of any of the First-Priority
Secured Parties in all or any part of the Collateral, or the provisions of this Agreement; provided that nothing in this Agreement shall be construed to prevent or impair (i) the rights of any Authorized Representative or any
First-Priority Secured Party to enforce this Agreement or (ii) the rights of any First-Priority Secured Party from contesting or supporting any other Person in contesting the enforceability of any Lien purporting to secure First-Priority
Obligations constituting unmatured interest pursuant to Section 502(b)(2) of the Bankruptcy Code. 
 Section 2.03. No
Interference; Payment Over. (a) Each First-Priority Secured Party agrees that (i) it will not take or cause to be taken any action the purpose or intent of which is, or could be, to interfere, hinder or delay, in any manner, whether by
judicial proceedings or otherwise, any sale, transfer or other disposition of the Common Collateral by, or with the consent of, the Controlling Authorized Representative, (ii) except as provided in Section 2.02, it shall have no right to
(A) direct the Controlling Authorized Representative or any other First-Priority Secured Party to exercise any right, remedy or power with respect to any Common Collateral (including pursuant to any intercreditor agreement) or (B) consent
to the exercise by the Controlling Authorized Representative or any other First-Priority Secured Party of any right, remedy or power with respect to any Common Collateral, (iii) it will not institute any suit or assert in any suit, bankruptcy,
insolvency or other proceeding any claim against the Controlling Authorized Representative or any other First-Priority Secured Party seeking damages from or other relief by way of specific performance, instructions or otherwise with respect to any
Common Collateral, and none of the Controlling Authorized Representative, any other Authorized Representatives or any other First-Priority Secured Party shall be liable for any action taken or omitted to be taken by the Controlling Authorized
Representative or other First-Priority Secured Party with respect to any Common Collateral in accordance with the provisions of this Agreement, (iv) it will not seek, and hereby waives any right, to have any Common Collateral or any part
thereof marshaled upon any foreclosure or other disposition of such Collateral and (v) it will not attempt, directly or indirectly, whether by judicial proceedings or otherwise, to challenge the enforceability of any provision of this
Agreement; provided that nothing in this Agreement shall be construed to prevent or impair the rights of any of the Authorized Representatives or any other First-Priority Secured Party to enforce this Agreement. 

(b) Each First-Priority Secured Party hereby agrees that, if it shall obtain possession of any Common Collateral or shall realize any proceeds
or payment in respect of any such Common Collateral, pursuant to any First-Priority Collateral Document or by the exercise of any rights available to it under applicable law or in any Insolvency or Liquidation Proceeding or through any other
exercise of remedies (including pursuant to any intercreditor agreement), at any time prior to the Discharge of each Series of First-Priority Obligations, then it shall hold such Common Collateral, proceeds or payment in trust for the First-Priority
Secured Parties and promptly transfer such Common Collateral, proceeds or payment, as the case may be, to the Controlling Authorized Representative, to be distributed by the Controlling Authorized Representative in accordance with the provisions of
Section 2.01(a) hereof. 

  
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 Section 2.04. Automatic Release of Liens; Amendments to First-Priority Collateral
Documents. (a) If at any time any Common Collateral is transferred to a third party or otherwise disposed of, in each case, in connection with any enforcement by the Controlling Authorized Representative in accordance with the provisions of this
Agreement and the applicable First-Priority Collateral Documents, then (whether or not any Insolvency or Liquidation Proceeding is pending at the time) the Liens in favor of each Authorized Representative for the benefit of each Series of
First-Priority Secured Parties upon such Common Collateral will automatically be released and discharged upon the consummation of such transfer or disposition; provided that any proceeds of any Common Collateral realized therefrom shall be
applied pursuant to Section 2.01 hereof. 
 (b) If, in connection with any sale, lease, exchange, transfer or other disposition of any
Common Collateral permitted under the terms of the Secured Credit Documents (whether or not an Event of Default thereunder, and as defined therein, has occurred and is continuing), the Controlling Authorized Representative, for itself or on behalf
of the Controlling Secured Parties, releases any of its Liens on any part of the Common Collateral, then the Liens, if any, of each Non-Controlling Authorized Representative on such Common Collateral (but not
the proceeds thereof, which shall be subject to the priorities set forth in this Agreement) shall be automatically, unconditionally and simultaneously released, and each Non-Controlling Authorized
Representative promptly shall execute, if applicable, and deliver to the Controlling Authorized Representative or such Grantor such termination statements, releases, authorizations and other documents and instruments, and shall take or authorize the
Controlling Authorized Representative or such Grantor to take such action (including any recordation, filing or giving of notice), as the Controlling Authorized Representative or such Grantor may reasonably request to effectively confirm such
release. 
 (c) Each First-Priority Secured Party agrees that the Controlling Authorized Representative may, with the prior written consent
of the Grantors, enter into any amendment (and, upon request by the Controlling Authorized Representative, each Authorized Representative shall sign a consent to such amendment) to any First-Priority Collateral Document solely as such First-Priority
Collateral Document relates to a particular Series of First-Priority Obligations for which the Controlling Authorized Representative is acting (including, without limitation, to release Liens securing such Series of First- Priority Obligations) so
long as (x) such amendment is in accordance with the Secured Credit Document pursuant to which such Series of First-Priority Obligations was incurred and (y) such amendment does not adversely affect the First-Priority Secured Parties of
any other Series. The Controlling Authorized Representative shall provide a copy of such amendment to each Authorized Representative. 

  
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 (d) Each Authorized Representative agrees to execute, if applicable and deliver (at the sole
cost and expense of the Grantors) all such termination statements, releases, authorizations and other documents and instruments, and shall take or authorize the applicable Authorized Representative or such Grantor to take such action (including any
recordation, filing or giving of notice) reasonably required in connection therewith as shall reasonably be requested by the applicable Authorized Representative to evidence and confirm any release of Common Collateral, whether in connection with a
sale of such assets by the relevant owner pursuant to the preceding clauses or otherwise or amendment to any First-Priority Collateral Document provided for in this Section. 

Section 2.05. Certain Agreements with Respect to Bankruptcy or Insolvency Proceedings. (a) This Agreement shall continue in
full force and effect notwithstanding the commencement of any proceeding under the Bankruptcy Code or any other federal, state or foreign bankruptcy, insolvency, receivership or similar law by or against Parent or any of its Subsidiaries. 

(b) If any Grantor shall become subject to a case (a “Bankruptcy Case”) under the Bankruptcy Code and shall, as debtor(s)-in-possession, move for approval of financing (“DIP Financing”) to be provided by one or more lenders (the “DIP Lenders”) under
Section 364 of the Bankruptcy Code or otherwise or the use of cash collateral under Section 363 of the Bankruptcy Code or otherwise, each First-Priority Secured Party (other than any Controlling Secured Party or the Controlling Authorized
Representative) agrees that it will raise no objection to any such financing or to the Liens on the Common Collateral securing the same (“DIP Financing Liens”) or to any use of cash collateral that constitutes Common Collateral and
shall not request adequate protection or any other relief in connection therewith, unless the Controlling Authorized Representative shall then oppose or object to such DIP Financing or such DIP Financing Liens or use of cash collateral (and
(i) to the extent that such DIP Financing Liens are senior to the Liens on any such Common Collateral for the benefit of the Controlling Secured Parties, each Non-Controlling Secured Party will
subordinate its Liens with respect to such Common Collateral (including to any “carve-out” for professional and United States Trustee fees, administrative and other priority claims) on the same terms
as the Liens of the Controlling Secured Parties (other than any Liens of any First-Priority Secured Parties constituting DIP Financing Liens) are subordinated thereto, and (ii) to the extent that such DIP Financing Liens rank pari passu with
the Liens on any such Common Collateral granted to secure the First-Priority Obligations of the Controlling Secured Parties, each Non-Controlling Secured Party will confirm the priorities with respect to such
Common Collateral as set forth herein), in each case so long as (A) the First-Priority Secured Parties of each Series retain the benefit of their Liens on all such Common Collateral pledged to the DIP Lenders, including proceeds thereof arising
after the commencement of such proceeding, with the same priority vis-à-vis all the other First-Priority Secured Parties (other than any Liens of the
First-Priority Secured Parties constituting DIP Financing Liens) as existed prior to the commencement of the Bankruptcy Case, (B) the First-Priority Secured Parties of each Series are granted Liens on any additional collateral pledged to any
First-Priority Secured Parties as adequate protection or otherwise in connection with such DIP Financing or use of cash collateral, with the same priority
vis-à-vis the First-Priority Secured Parties as set forth in this Agreement, (C) if any amount of such DIP Financing or cash collateral is applied to repay
any of the First-Priority Obligations, such amount is applied pursuant to Section 2.01(a) of this Agreement and (D) if any First-Priority Secured Parties are granted adequate protection, including in the form of periodic payments, in
connection with such DIP Financing or use of cash collateral, the proceeds of such adequate protection is applied 

  
 15 

 
pursuant to Section 2.01(a) of this Agreement; provided that the First-Priority Secured Parties of each Series shall have a right to object to the grant of a Lien to secure the DIP
Financing over any Collateral subject to Liens in favor of the First-Priority Secured Parties of such Series or its Authorized Representative that shall not constitute Common Collateral; and provided further that the First-Priority
Secured Parties receiving adequate protection shall not object to any other First-Priority Secured Party receiving adequate protection comparable to any adequate protection granted to such First-Priority Secured Parties in connection with a DIP
Financing or use of cash collateral. 
 (c) If any Grantor shall become subject to a Bankruptcy Case, each First-Priority Secured Party
(other than any Controlling Authorized Representative) agrees that it shall not: 
 (i) seek in respect of any part of the
Common Collateral or proceeds thereof, or any Lien on the Common Collateral, any relief from or modification of the automatic or other stay as provided in Section 362 of the Bankruptcy Code or under any other applicable Bankruptcy Law or
otherwise, or take any action in derogation thereof; and 
 (ii) oppose or object (and instead shall be deemed to have
consented), or join any other Person in opposing or objecting, to any disposition of any Common Collateral (including any credit bid under Section 363(k) of the Bankruptcy Code or under any other applicable Law or otherwise) free and clear of
the Liens on the Common Collateral securing the First-Priority Obligations or other claims under Section 363 of the Bankruptcy Code or otherwise (so long as pursuant to court order the respective interests of the First-Priority Secured Parties
attach to any net proceeds thereof on the same basis of priority as the Liens on the Common Collateral as existed prior to such disposition), if each Controlling Authorized Representative shall consent to, or not object to, such disposition. 

Section 2.06. Reinstatement. In the event that any of the First-Priority Obligations shall be paid in full and such payment or any
part thereof shall subsequently, for whatever reason (including an order or judgment for disgorgement of a preference under the Bankruptcy Code, or any similar law, or the settlement of any claim in respect thereof), be required to be returned or
repaid, the terms and conditions of this Article 2 shall be fully applicable thereto until all such First-Priority Obligations shall again have been paid in full in cash. 

Section 2.07. Insurance. As between the First-Priority Secured Parties, the Controlling Authorized Representative shall have the
right to adjust or settle any insurance policy or claim covering or constituting Common Collateral in the event of any loss thereunder and to approve any award granted in any condemnation or similar proceeding affecting the Common Collateral. 

  
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 Section 2.08. Refinancings. The First-Priority Obligations of any Series may be
Refinanced, in whole or in part, in each case without notice to, or the consent (except to the extent a consent is otherwise required to permit the refinancing transaction under any Secured Credit Document) of, any First-Priority Secured Party of
any other Series, all without affecting the priorities provided for herein or the other provisions hereof; provided that the Authorized Representative of the holders of any such Refinancing indebtedness shall have executed a Joinder Agreement
on behalf of the holders of such Refinancing indebtedness. 
 Section 2.09. Possessory Collateral, Control Collateral and
Controlling Authorized Representative as Gratuitous Bailee/Agent for Perfection. (a) The Controlling Authorized Representative agrees to hold any Common Collateral constituting Possessory Collateral or Control Collateral that is part of the
Collateral in its possession or control (or in the possession or control of its agents or bailees) as gratuitous bailee and/or gratuitous agent for the benefit of each other First-Priority Secured Party and any assignee solely for the purpose of
perfecting the security interest granted in such Possessory Collateral or Control Collateral, if any, pursuant to the applicable First-Priority Collateral Documents, in each case, subject to the terms and conditions of this Section 2.09.
Pending delivery to the Controlling Authorized Representative, each other Authorized Representative agrees to hold any Common Collateral constituting Possessory Collateral or Control Collateral, from time to time in its possession, as gratuitous
bailee and/or gratuitous agent for the benefit of each other First-Priority Secured Party and any assignee, solely for the purpose of perfecting the security interest granted in such Possessory Collateral or Control Collateral, if any, pursuant to
the applicable First-Priority Collateral Documents, in each case, subject to the terms and conditions of this Section 2.09. Upon the delivery of any such Collateral to the applicable Authorized Representative, the Grantors’ obligations to
deliver such Collateral to any Authorized Representative pursuant to the terms of the applicable First-Priority Collateral Document shall be deemed satisfied. 

(b) The duties or responsibilities of the Controlling Authorized Representative and each other Authorized Representative under this
Section 2.09 shall be limited solely to holding any Common Collateral constituting Possessory Collateral or Control Collateral as gratuitous bailee and/or gratuitous agent for the benefit of each other First-Priority Secured Party for purposes
of perfecting the Lien held by such First-Priority Secured Parties therein. 
 (c) The agreement of the Controlling Authorized Representative
to act as gratuitous bailee and/or gratuitous agent pursuant to this Section 2.09 is intended, among other things, to satisfy the requirements of Sections 8-106(d)(3), 8-301(a)(2), 9-104(a)(2) and 9-313(c) of the UCC. 
 (d) Upon the occurrence of any change in the identity of the Person
serving as the Controlling Authorized Representative, the retiring Controlling Authorized Representative shall (i) deliver to the successor Controlling Authorized Representative (and each Grantor hereby directs the Controlling Authorized
Representative to so deliver) at the Grantors’ sole cost and expense, any Possessory Collateral or Control Collateral evidencing or constituting such Common Collateral in its possession or control together with any necessary endorsements to the
extent required by the Secured Credit Documents and (ii) in the case of any Common Collateral as to which the Controlling Authorized Representative has control (whether pursuant to an account control agreement or otherwise), the Controlling
Authorized Representative and the applicable Grantor, at the Grantors’ sole cost and expense, shall take such actions, if any, as are required to cause control over such Common Collateral to become vested in the successor Controlling Authorized
Representative. 

  
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 ARTICLE 3 

EXISTENCE AND AMOUNTS OF LIENS AND
OBLIGATIONS 
 Whenever the Controlling Authorized Representative or any Authorized Representative shall be required, in
connection with the exercise of its rights or the performance of its obligations hereunder, to determine the existence or amount of any First-Priority Obligations of any Series, or the Common Collateral subject to any Lien securing the
First-Priority Obligations of any Series, it may request that such information be furnished to it in writing by each other Authorized Representative and shall be entitled to make such determination on the basis of the information so furnished;
provided, however, that, if an Authorized Representative shall fail or refuse reasonably promptly to provide the requested information, the requesting Controlling Authorized Representative or Authorized Representative shall be entitled
to make any such determination or not make any determination by such method as it may, in the exercise of its good faith judgment, determine, including by reliance upon a certificate of a Responsible Officer of Parent. The Controlling Authorized
Representative and each Authorized Representative may rely conclusively, and shall be fully protected in so relying, on any determination made by it in accordance with the provisions of the preceding sentence (or as otherwise directed by a court of
competent jurisdiction) and shall have no liability to any Grantor, any First-Priority Secured Party or any other person as a result of such determination, except to the extent a court of competent jurisdiction in a final, nonappealable judgment to
have resulted from gross negligence or willful misconduct of such Authorized Representative. 
 ARTICLE 4 

THE CONTROLLING AUTHORIZED REPRESENTATIVE 

Section 4.01. Appointment and Authority. (a) Notwithstanding any other provision of this Agreement, nothing herein shall be
construed to impose any fiduciary or other duty on the Controlling Authorized Representative to any Non-Controlling Secured Party or give any Non-Controlling Secured
Party the right to direct the Controlling Authorized Representative, except that the Controlling Authorized Representative shall be obligated to distribute proceeds of any Common Collateral in accordance with Section 2.01 hereof. 

(b) Each Non-Controlling Secured Party acknowledges and agrees that the Controlling Authorized
Representative shall be entitled, for the benefit of the First-Priority Secured Parties, to sell, transfer or otherwise dispose of or deal with any Common Collateral as provided herein and in the First-Priority Collateral Documents for which the
Controlling Authorized Representative is the collateral agent of such Common Collateral, without regard to any rights to which Non-Controlling Secured Parties would otherwise be entitled as a result of holding
any First-Priority Obligations. Without limiting the foregoing, each Non-Controlling Secured Party agrees that none of the Controlling Authorized Representative or any other First-Priority Secured Party shall
have any duty or 

  
 18 

 
obligation first to marshal or realize upon any type of Common Collateral (or any other Collateral securing any of the First-Priority Obligations), or to sell, dispose of or otherwise liquidate
all or any portion of such Common Collateral (or any other Collateral securing any First-Priority Obligations), in any manner that would maximize the return to the Non-Controlling Secured Parties,
notwithstanding that the order and timing of any such realization, sale, disposition or liquidation may affect the amount of proceeds actually received by the Non-Controlling Secured Parties from such
realization, sale, disposition or liquidation. Each of the First-Priority Secured Parties waives any claim it may now or hereafter have against the Controlling Authorized Representative or the Authorized Representative of any other Series of
First-Priority Obligations or any other First-Priority Secured Party of any other Series arising out of (i) any actions which the Controlling Authorized Representative, any Authorized Representative or any First-Priority Secured Party takes or
omits to take (including, actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the foreclosure upon, sale, release or depreciation of, or failure to realize upon, any of the Collateral
and actions with respect to the collection of any claim for all or any part of the First-Priority Obligations from any account debtor, guarantor or any other party) in accordance with the First-Priority Collateral Documents or any other agreement
related thereto or to the collection of the First-Priority Obligations or the valuation, use, protection or release of any security for the First-Priority Obligations, (ii) any election by any Authorized Representative or any holders of
First-Priority Obligations, in any proceeding instituted under the Bankruptcy Code, of the application of Section 1111(b) of the Bankruptcy Code or (iii) subject to Section 2.05 of this Agreement, any borrowing or grant of a security
interest or administrative expense priority under Section 364 of the Bankruptcy Code by Parent or any of its Subsidiaries, as debtor-in-possession. Notwithstanding
any other provision of this Agreement, the Controlling Authorized Representative shall not accept any Common Collateral in full or partial satisfaction of any First-Priority Obligations pursuant to Section 9-620 of the Uniform Commercial Code
of any jurisdiction, without the consent of each Authorized Representative representing holders of First-Priority Obligations for whom such Collateral constitutes Common Collateral. 

Section 4.02. Rights as a First-Priority Secured Party. The Person serving as the Controlling Authorized Representative hereunder
shall have the same rights and powers in its capacity as a First-Priority Secured Party under any Series of First-Priority Obligations that it holds as any other First-Priority Secured Party of such Series and may exercise the same as though it were
not the Controlling Authorized Representative and the term “First-Priority Secured Party” or “First-Priority Secured Parties” or (as applicable) “Credit Agreement Secured Party”, “Credit Agreement Secured
Parties”, “Other First-Priority Secured Party” or “Other First-Priority Secured Parties” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Controlling
Authorized Representative 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 Parent or any Subsidiary of Parent or other Affiliate thereof as if such Person were not the Controlling Authorized Representative hereunder and without any duty to account therefor to any other First-Priority Secured Party. 

  
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 Section 4.03. Exculpatory Provisions. (a) The Controlling Authorized
Representative shall not have any duties or obligations except those expressly set forth herein and in the other First-Priority Collateral Documents. Without limiting the generality of the foregoing, the Controlling Authorized Representative: 

(i) shall not be subject to any fiduciary or other implied duties of any kind or nature to any Person, regardless of whether an
Event of Default has occurred and is continuing; 
 (ii) 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 First-Priority Collateral Documents; provided that the Controlling Authorized Representative shall not be required to take any
action that, in its opinion or the opinion of its counsel, may expose the Controlling Authorized Representative to liability or that is contrary to any First-Priority Collateral Document or applicable law; 

(iii) shall not, except as expressly set forth herein and in the other First-Priority Collateral Documents, have any duty to
disclose, and shall not be liable for the failure to disclose, any information relating to Parent or any of its Affiliates that is communicated to or obtained by the Person serving as the Controlling Authorized Representative or any of its
Affiliates in any capacity; 
 (iv) shall not be liable for any action taken or not taken by it (A) in the absence of
its own gross negligence or willful misconduct, as determined by a court of competent jurisdiction in a final and non-appealable decision or (B) in reliance on a certificate of an authorized officer of
Parent stating that such action is not prohibited by the terms of this Agreement. The Controlling Authorized Representative shall be deemed not to have knowledge of any Event of Default under any Series of First-Priority Obligations unless and until
notice describing such Event of Default is given to the Controlling Authorized Representative by the Authorized Representative of such First-Priority Obligations or Parent; 

(v) shall not be responsible for or have any duty to ascertain or inquire into (A) any statement, warranty or
representation made in or in connection with this Agreement or any other First-Priority Collateral Document, (B) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith,
(C) 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, (D) the validity, enforceability, effectiveness or genuineness of this
Agreement, any other First-Priority Collateral Document or any other agreement, instrument or document, or the creation, perfection or priority of any Lien purported to be created by the First-Priority Collateral Documents, (E) the value or the
sufficiency of any Collateral for any Series of First-Priority Obligations, or (F) the satisfaction of any condition set forth in any Secured Credit Document, other than to confirm receipt of items expressly required to be delivered to the
Controlling Authorized Representative; 

  
 20 

 (vi) shall not have any fiduciary duties or contractual obligations of any
kind or nature under any Other First-Priority Agreement (but shall be entitled to all protections provided to the Authorized Representative therein); and 

(vii) with respect to the Credit Agreement, any Other First-Priority Agreement or any First-Priority Collateral Document, may
conclusively assume that the Grantors have complied with all of their obligations thereunder unless it has knowledge of any such non-compliance or is advised in writing by the Authorized Representative
thereunder to the contrary specifically setting forth the alleged violation. 
 (b) Each First-Priority Secured Party acknowledges that, in
addition to acting as the initial Controlling Authorized Representative, JPMorgan also serves as Credit Facility Agent under the Credit Agreement and each First-Priority Secured Party hereby agrees not to assert any claim (including as a result of
any conflict of interest) against JPMorgan, or any successor, arising from the role of Credit Facility Agent under the Credit Agreement so long as JPMorgan, or any such successor is either acting in accordance with the express terms of such
documents or otherwise has not engaged in gross negligence or willful misconduct. 
 (c) Each Authorized Representative and each
First-Priority Secured Party hereby waives any claim it may now or hereafter have against the Controlling Authorized Representative or any First-Priority Secured Parties arising out of (i) any actions which the Controlling Authorized
Representative (or any of its representatives) takes or omits to take (including actions with respect to the creation, perfection or continuation of Liens on any Collateral, actions with respect to the foreclosure upon, disposition, release or
depreciation of, or failure to realize upon, any of the Collateral and actions with respect to the collection of any claim for all or any part of the First-Priority Obligations from any account debtor, guarantor or any other party) in accordance
with any relevant First-Priority Collateral Documents, or any other agreement related thereto, or to the collection of the First-Priority Obligations or the valuation, use, protection or release of any security for the First-Priority Obligations,
(ii) any election by the Controlling Authorized Representative (or any of its agents), in any proceeding instituted under the Bankruptcy Code, of the application of Section 1111(b) of the Bankruptcy Code, or (iii) subject to
Section 2.05, any borrowing by, or grant of a security interest or administrative expense priority under Section 364 of the Bankruptcy Code by, Parent or any of its Subsidiaries, as debtor-in-possession. 
 Section 4.04. Reliance by Controlling Authorized
Representative. The Controlling Authorized Representative 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 Controlling Authorized Representative 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. The Controlling Authorized Representative may consult with legal counsel (who may
include, but shall not be limited to counsel for Parent and its Subsidiaries or counsel to the Credit Facility Agent or any Authorized Representative), 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. 

  
 21 

 Section 4.05. Delegation of Duties. The Controlling Authorized Representative
may perform any and all of its duties and exercise its rights and powers hereunder or under any other First-Priority Collateral Document by or through any one or more sub-agents appointed by the Controlling
Authorized Representative. The Controlling Authorized Representative and any such sub-agent may perform any and all of its duties and exercise its rights and powers by or through their respective Affiliates.
The exculpatory provisions of this Article shall apply to any such sub-agent and to the Affiliates of the Controlling Authorized Representative and any such sub-agent.

 Section 4.06. Non-Reliance on Controlling Authorized Representative and Other
First-Priority Secured Parties. Each First-Priority Secured Party, other than the Initial Other Authorized Representative, acknowledges that it has, independently and without reliance upon the Controlling Authorized Representative, any
Authorized Representative or any other First-Priority Secured Party or any of their Affiliates and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement and the
other Secured Credit Documents. Each First-Priority Secured Party also acknowledges that it will, independently and without reliance upon the Controlling Authorized Representative, any Authorized Representative or any other First-Priority Secured
Party or any of their Affiliates 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 Secured
Credit Document or any related agreement or any document furnished hereunder or thereunder. 
 Section 4.07. Collateral and Guaranty
Matters. Each of the First-Priority Secured Parties irrevocably authorizes the Credit Facility Agent or the Initial Other Authorized Representative, as applicable, at its option and in its discretion: 

(a) to release any Lien on any property granted to or held by it under any First-Priority Collateral Document to which it is a party in
accordance with Section 2.04 of this Agreement or upon receipt of a written request from Parent stating that the release of such Lien is not prohibited by the terms of each then extant Secured Credit Document; and 

(b) to release any Grantor from its obligations under the First-Priority Collateral Documents it is a party upon receipt of a written request
from Parent stating that such release is not prohibited by the terms of each then extant Secured Credit Document. 

  
 22 

 ARTICLE 5 

MISCELLANEOUS 

Section 5.01. Notices. (a) 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 telecopy, as follows: 
 (b) if to the
Controlling Authorized Representative or the Credit Facility Agent, to it as provided in the Credit Agreement; 
 (c) if to the Initial Other
Authorized Representative, to it at as provided in the Initial Other First-Priority Agreement; and 
 (d) if to any Additional First-Priority
Agent, to it at the address set forth in the applicable Joinder Agreement. 
 Any party hereto may change its address or telecopy number for notices and
other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been given on the date of receipt (if a
Business Day) and on the next Business Day thereafter (in all other cases) if delivered by hand or overnight courier service or sent by telecopy or on the date five Business Days after dispatch by certified or registered mail if mailed, in each case
delivered, sent or mailed (properly addressed) to such party as provided in this Section 5.01 or in accordance with the latest unrevoked direction from such party given in accordance with this Section 5.01. As agreed to in writing among
the Controlling Authorized Representative and each Authorized Representative from time to time, notices and other communications may also be delivered by e-mail to the
e-mail address of a representative of the applicable person provided from time to time by such person. 

Section 5.02. Waivers; Amendment; Joinder Agreements. (a) No failure or delay on the part of any party hereto in exercising
any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further
exercise thereof or the exercise of any other right or power. The rights and remedies of the parties hereto are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement
or consent to any departure by any party therefrom shall in any event be effective unless the same shall not be prohibited by paragraph (b) of this Section 5.02, and then such waiver or consent shall be effective only in the specific
instance and for the purpose for which given. No notice or demand on any party hereto in any case shall entitle such party to any other or further notice or demand in similar or other circumstances. 

  
 23 

 (b) Neither this Agreement nor any provision hereof may be terminated, waived, amended or
modified (other than pursuant to any Joinder Agreement) except pursuant to an agreement or agreements in writing entered into by each Authorized Representative (or its authorized agent) and Parent. Notwithstanding anything in this
Section 5.02(b) to the contrary, this Agreement may be amended from time to time at the request of Parent, at Parent’s expense, and without the consent of any Authorized Representative or any First-Priority Secured Party, to add other
parties holding Other First-Priority Obligations (or any agent or trustee therefor) in accordance with clause (c) below and Section 5.14, to the extent such obligations are not prohibited by any Secured Credit Document. Each party to this
Agreement agrees that (i) at the request (and sole expense) of Parent, without the consent of any First-Priority Secured Party, each of the Authorized Representatives shall, upon delivery of an Officers’ Certificate to the Initial Other
Authorized Representative as provided in Section 5.13(b), execute and deliver an acknowledgment and confirmation of such modifications and/or enter into an amendment, a restatement or a supplement of this Agreement to facilitate such
modifications (it being understood that such actions shall not be required for the effectiveness of any such modifications) and (ii) Parent shall be a beneficiary of this Section 5.02(b). Notwithstanding the foregoing, this Agreement shall
terminate with respect to a Series of First-Priority Obligations (and the Authorized Representative with respect thereto) upon the Discharge of such Series of First-Priority Obligations or in the event such Series is no longer secured by the
Collateral. 
 (c) Notwithstanding the foregoing, without the consent of any First-Priority Secured Party, any Authorized Representative may
become a party hereto by execution and delivery of a Joinder Agreement in accordance with Section 5.14 and, upon such execution and delivery, such Authorized Representative and the Other First-Priority Secured Parties and Other First-Priority
Obligations of the Series for which such Authorized Representative is acting shall be subject to the terms hereof and the terms of the other First-Priority Collateral Documents applicable thereto. 

Section 5.03. Parties in Interest. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns, as well as the other First-Priority Secured Parties, all of whom are intended to be bound by, and to be third party beneficiaries of, this Agreement. 

Section 5.04. Survival of Agreement. All covenants, agreements, representations and warranties made by any party in this Agreement
shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement. 

Section 5.05. Counterparts. This Agreement may be executed in counterparts, each of which shall constitute an original but all of
which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile transmission or via electronic mail shall be as effective as delivery of a manually signed counterpart of this
Agreement. The words “execution,” “signed,” “signature,” and words of like import in this Agreement 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. 

  
 24 

 Section 5.06. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions
hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. The parties shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable
provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 5.07. Governing Law. THIS AGREEMENT AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSES OF ACTION (WHETHER IN CONTRACT OR TORT
OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO ANY PRINCIPLE OF CONFLICTS OF LAW THAT COULD REQUIRE THE APPLICATION OF
ANY OTHER LAW. 
 Section 5.08. Submission to Jurisdiction; Waivers. The Controlling Authorized Representative and each
Authorized Representative, on behalf of itself and the First-Priority Secured Parties of the Series for whom it is acting, irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the First-Priority Collateral
Documents, or for recognition and enforcement of any judgment in respect thereof, to the exclusive general jurisdiction of the state and federal courts located in New York County and appellate courts from any thereof and waives any objection to any
action instituted hereunder in any such court based on forum non conveniens, and any objection to the venue of any action instituted hereunder in any such court; 

(b) consents that any such action or proceeding may be brought in such courts and waives any objection that it may now or hereafter have to the
venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Person (or its Authorized Representative) at the address referred to in Section 5.01 hereof; 

(d) agrees that nothing herein shall affect the right of any other party hereto (or any First-Priority Secured Party) to effect service of
process in any other manner permitted by law; and 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim
or recover in any legal action or proceeding referred to in this Section 5.08 any special, exemplary, punitive or consequential damages. 

  
 25 

 Section 5.09. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO WAIVES ANY RIGHT
IT MAY HAVE TO TRIAL BY JURY IN RESPECT OF ANY LITIGATION BASED ON, OR ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT, OR ANY COURSE OF CONDUCT, COURSE OF DEALING, VERBAL OR WRITTEN STATEMENT OR ACTION OF ANY PARTY HERETO IN CONNECTION
WITH THE SUBJECT MATTER HEREOF. 
 Section 5.10. Headings. Article, Section and Annex headings used herein are for convenience
of reference only, are not part of this Agreement and are not to affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

Section 5.11. Conflicts. In the event of any conflict regarding the priority of the Liens and security interests granted to any of
the Authorized Representatives or the exercise of rights or remedies of any of the Authorized Representatives between the terms of this Agreement and the terms of any of the other Secured Credit Documents or First-Priority Collateral Documents, the
terms of this Agreement shall govern. 
 Section 5.12. Provisions Solely to Define Relative Rights. The provisions of this
Agreement are and are intended solely for the purpose of defining the relative rights of the First-Priority Secured Parties in relation to one another. None of Parent, any other Grantor or any other creditor thereof shall have any rights or
obligations hereunder, except as expressly provided in this Agreement (provided that nothing in this Agreement (other than Section 2.04, 2.05, 2.08, 2.09 or Article 5) is intended to or will amend, waive or otherwise modify the
provisions of the Credit Agreement or any Other First-Priority Agreements), and none of Parent or any other Grantor may rely on the terms hereof (other than Sections 2.04, 2.05, 2.08, 2.09 and Article 5); provided, however, that in no
event shall any amendment or other modification of this agreement be effective to the extent the rights or obligations of any Grantor would be adversely affected thereby without the written consent of Parent. Nothing in this Agreement is intended to
or shall impair the obligations of any Grantor to pay the First-Priority Obligations as and when the same shall become due and payable in accordance with their terms. 

Section 5.13. Authorized Representatives. (a) Each of the Authorized Representative under the Credit Agreement and the
Initial Other Authorized Representative is executing and delivering this Agreement solely in its capacity as such and pursuant to directions set forth in the Credit Agreement or the Initial Other First-Priority Agreement, as applicable; and in so
doing, neither the Authorized Representative under the Credit Agreement nor the Initial Other Authorized Representative shall be responsible for the terms or sufficiency of this Agreement for any purpose. Each of the Authorized Representative under
the Credit Agreement and the Initial Other Authorized Representative shall not have duties or obligations under or pursuant to this Agreement other than such duties expressly set forth in this Agreement as duties on its part to be performed or
observed. In entering into this Agreement, or in taking (or forbearing from) any action under or pursuant to this Agreement, each of the Authorized Representative under the Credit Agreement and the Initial Other Authorized Representative shall have
and be protected by all of the rights, immunities, indemnities and other protections granted to it under the Credit Agreement or the Initial Other First-Priority Agreement, as applicable. 

  
 26 

 (b) The Initial Other Authorized Representative shall not be under any obligation to take or
consent to any action that is within the discretion of the Initial Other Authorized Representative under the provisions hereof, except upon the written instructions of the Required Holders. For purposes of determining whether the conditions
precedent under this Agreement have been satisfied, and prior to executing and delivering any amendment or document of any kind, taking any action or releasing any Collateral as required by the terms of this Agreement, including pursuant to Sections
2.04(b), (c) and (d) hereof, the Initial Other Authorized Representative shall be entitled to receive and conclusively rely upon an Opinion of Counsel and Officer’s Certificate (as such terms are defined in the Initial Other First-Priority
Agreement) to the effect that any such document, action or release is authorized, permitted or not prohibited hereunder and under the Initial Other First-Priority Agreement, the Notes Collateral Agreement and the other applicable First-Priority
Collateral Documents (it being understood and agreed that this clause (b) shall not create any obligation upon Parent or any other Grantor to deliver any Opinion of Counsel or Officer’s Certificate). The Initial Other Authorized
Representative shall not at any time be deemed or imputed to have any knowledge of or receipt of any notices, information, correspondence or materials in the possession of or given to any other Authorized Representative acting under any other Series
of First-Priority Obligations. 
 Section 5.14. Other First-Priority Obligations. Parent may from time to time, subject to any
limitations contained in any Secured Credit Documents in effect at such time, designate additional indebtedness and related obligations that are, or are to be, secured by Liens on any assets of the Grantors that would, if such Liens were granted,
constitute Common Collateral as “Other First-Priority Obligations” hereunder, by delivering to each Authorized Representative party hereto at such time a certificate of a Responsible Officer of Parent: 

(a) describing the indebtedness and other obligations being designated as Other First-Priority Obligations, and including a statement of the
maximum aggregate outstanding principal amount of such indebtedness as of the date of such certificate; 
 (b) setting forth each of the
indentures, credit agreements or other similar agreements (the “Additional First-Priority Agreements”) under which such Other First-Priority Obligations are, or are to be, issued or incurred, and under which the Liens securing such
Other First-Priority Obligations are, or are to be, granted or created, and attaching copies of such Additional First-Priority Agreements as each Grantor has executed and delivered to the Person that serves as the collateral agent, collateral
trustee or a similar representative for the holders of such Other First-Priority Obligations (such Person, the “Additional First-Priority Agent”) with respect to such Other First-Priority Obligations on the closing date of such
Other First-Priority Obligations, certified as being true and complete by a Responsible Officer of Parent; 
 (c) identifying the Person that
serves as the Additional First-Priority Agent; 
 (d) certifying that the incurrence of such Other First-Priority Obligations, the creation
of the Liens securing such Other First-Priority Obligations and the designation of such Other First-Priority Obligations as “Other First-Priority Obligations” hereunder do not violate or result in a default under any provision of any
Secured Credit Document of any Series in effect at such time; and 

  
 27 

 (e) attaching a fully completed Joinder Agreement executed and delivered by the Authorized
Representative in respect of such Series of Other First-Priority Obligations. 
 Upon the delivery of such certificate and the related attachments as
provided above, the obligations designated in such notice shall become Other First-Priority Obligations for all purposes of this Agreement. 

Section 5.15. Junior Lien Intercreditor Agreements. The Controlling Authorized Representative, the Initial Other Authorized
Representative and each other Authorized Representative hereby appoint the Controlling Authorized Representative to act as agent on their behalf pursuant to and in connection with the execution of any intercreditor agreements governing any Liens on
Common Collateral junior to Liens securing the First-Priority Obligations that are incurred after the date hereof in compliance with the Secured Credit Documents. 

[Remainder of this page intentionally left blank] 

  
 28 

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

			
	 JPMORGAN CHASE BANK, N.A.,
as Credit Facility Agent

		
	By:	 	 /s/ Ryan Baker

		 	 Name: Ryan Baker

		 	 Title:   Vice President

 [Signature Page to First Lien/First Lien Intercreditor Agreement] 

 
			
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Initial Other Authorized Representative

		
	By:	 	/s/ Robert Peschler
		 	 Name: Robert Peschler

		 	 Title:   Vice President

		
	By:	 	 /s/ Bridgette Casasnovas

		 	Name: Bridgette Casasnovas
		 	Title:   Vice President

  
 [Signature Page to
First Lien/First Lien Intercreditor Agreement] 

 Annex A 

CONSENT OF GRANTORS 
 Dated:
April 21, 2021 
 Reference is made to the First Lien/First Lien Intercreditor Agreement, dated as of April 21, 2021, among
JPMorgan Chase Bank, N.A., as Credit Facility Agent, Deutsche Bank Trust Company Americas, as Initial Other Authorized Representative (as the same may be amended, restated, supplemented, waived, or otherwise modified from time to time, the
“Intercreditor Agreement”). Capitalized terms used but not defined herein shall have the meanings assigned to such terms in the Intercreditor Agreement. 

Each of the Grantors party hereto has read the Intercreditor Agreement and consents thereto. Each of the Grantors party hereto agrees to abide
by the requirements expressly applicable to it under the Intercreditor Agreement and agrees that, except as otherwise provided therein, no First-Priority Secured Party shall have any liability to any Grantor for acting in accordance with the
provisions of the Intercreditor Agreement. Each of the Grantors party hereto confirms that the Intercreditor Agreement is for the sole benefit of the First-Priority Secured Parties and their respective successors and assigns, and that no Grantor is
an intended beneficiary or third party beneficiary thereof except to the extent otherwise expressly provided therein. 
 Each of the
Grantors party hereto agrees to take such further action and to execute and deliver such additional documents and instruments (in recordable form, if requested) as the Controlling Authorized Representative may reasonably request to effectuate the
terms of and the lien priorities contemplated by the Intercreditor Agreement. 
 This Consent of Grantors shall be governed and construed in
accordance with the laws of the State of New York. Notices delivered to the Grantors pursuant to this Consent of Grantors shall be delivered in accordance with the notice provisions set forth in the Intercreditor Agreement. 

The words “execution,” “signed,” “signature,” and words of like import in this Consent of Grantors 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. 
 [Signature Pages Follow] 

 IN WITNESS HEREOF, this Consent of Grantors is hereby executed by each of the Grantors as of
the date first written above. 
  

			
	 COTY INC., as a grantor

		
	By:	 	/s/ Hemant Gandhi
		 	Name: Hemant Gandhi
		 	Title: Senior Vice President, Treasury
	 CALVIN KLEIN COSMETIC CORPORATION

COTY HOLDINGS INC.

COTY US HOLDINGS INC.

COTY US LLC

COTY BRANDS MANAGEMENT INC.

O P I PRODUCTS, INC.

GALLERIA CO.

GRAHAM WEBB INTERNATIONAL, INC.

THE WELLA CORPORATION

HFC PRESTIGE INTERNATIONAL U.S. LLC

HFC PRESTIGE PRODUCTS, INC.

NOXELL CORPORATION

as Grantors

		
	By:	 	/s/ Hemant Gandhi
		 	Name: Hemant Gandhi
		 	Title: Treasurer

  
 [Signature Page to
First Lien/First Lien Intercreditor Agreement – Consent of Guarantors] 

 Annex B 

Form of Joinder 
 [FORM
OF] JOINDER AGREEMENT NO. [•] dated as of [•], 20[•] (the “Joinder Agreement”) to the FIRST LIEN/FIRST LIEN INTERCREDITOR AGREEMENT dated as of April 21, 2021 (the “Intercreditor Agreement”),
among JPMorgan Chase Bank, N.A., as Credit Facility Agent, Deutsche Bank Trust Company Americas, as Initial Other Authorized Representative, and each other Authorized Representative from time to time party thereto. 

A. Capitalized terms used herein but not otherwise defined herein shall have the meanings assigned to such terms in the Intercreditor
Agreement. 
 B. Parent proposes to issue or incur Other First-Priority Obligations and the Person identified in the signature pages hereto
as the “Additional First-Priority Agent” (the “Additional First-Priority Agent”) will serve as the collateral agent, collateral trustee or a similar representative for the Other First-Priority Secured Parties. The Other
First-Priority Obligations are being designated as such by Parent in accordance with Section 5.14 of the Intercreditor Agreement. 
 C.
The Additional First-Priority Agent wishes to become a party to the Intercreditor Agreement and to acquire and undertake, for itself and on behalf of the Other First-Priority Secured Parties, the rights and obligations of an “Additional
First-Priority Agent” and “Authorized Representative” thereunder. The Additional First-Priority Agent is entering into this Joinder Agreement in accordance with the provisions of the Intercreditor Agreement in order to
become an Additional First-Priority Agent and Authorized Representative thereunder. 
 Accordingly, the Additional First-Priority Agent and
Parent agree as follows, for the benefit of the Additional First-Priority Agent, Parent and each other party to the Intercreditor Agreement: 

Section 1. Accession to the Intercreditor Agreement. The Additional First-Priority Agent (a) hereby accedes and becomes a
party to the Intercreditor Agreement as an Additional First-Priority Agent and Authorized Representative for the Other First-Priority Secured Parties from time to time in respect of the Other First-Priority Obligations, (b) agrees, for itself
and on behalf of the Other First-Priority Secured Parties from time to time in respect of the Other First-Priority Obligations, to all the terms and provisions of the Intercreditor Agreement and (c) shall have all the rights and obligations of
an Additional First-Priority Agent and an Authorized Representative under the Intercreditor Agreement. 
 Section 2.
Representations, Warranties and Acknowledgement of the Authorized Representative. The Additional First-Priority Agent represents and warrants to the other Authorized Representatives and the other First-Priority Secured Parties that
(a) it has full power and authority to enter into this Joinder Agreement, in its capacity as the Additional First-Priority Agent, (b) this Joinder Agreement has been duly authorized, executed and

 
delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with the terms of this Joinder Agreement, except as enforceability may be limited by
applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability, and (c) the Other First-Priority Agreements relating to such Other
First-Priority Obligations provide that, upon the Additional First-Priority Agent’s entry into this Joinder Agreement, the secured parties in respect of such Other First-Priority Obligations will be subject to and bound by the provisions of the
Intercreditor Agreement as Other First-Priority Secured Parties. 
 Section 3. Counterparts. This Joinder Agreement may be
executed in multiple counterparts, each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Joinder Agreement shall become effective when each Authorized Representative shall have
received a counterpart of this Joinder Agreement that bears the signature of the Additional First-Priority Agent. Delivery of an executed signature page to this Joinder Agreement by facsimile or other electronic transmission (including PDF copies)
shall be effective as delivery of a manually signed counterpart of this Joinder Agreement. The words “execution,” “signed,” “signature,” and words of like import in this Joinder Agreement 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. 
 Section 4. Benefit of Agreement. The agreements set forth herein or undertaken pursuant hereto
are for the benefit of, and may be enforced by, any party to the Intercreditor Agreement. 
 Section 5. Governing Law. THIS
JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK. 
 Section 6.
Severability. In case any one or more of the provisions contained in this Joinder Agreement should be held invalid, illegal or unenforceable in any respect, none of the parties hereto shall be required to comply with such provision for so
long as such provision is held to be invalid, illegal or unenforceable, but the validity, legality and enforceability of the remaining provisions contained herein and in the Intercreditor Agreement shall not in any way be affected or impaired. The
parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable
provisions. 
 Section 7. Notices. All communications and notices hereunder shall be in writing and given as provided in
Section 5.01 of the Intercreditor Agreement. All communications and notices hereunder to the Authorized Representative shall be given to it at the address set forth under its signature hereto, which information supplements Section 5.01 of
the Intercreditor Agreement. 
 [Signature Pages Follow] 

 IN WITNESS WHEREOF, the Additional First-Priority Agent has duly executed this Joinder
Agreement to the Intercreditor Agreement as of the day and year first above written. 
  

			
	[NAME OF ADDITIONAL FIRST-PRIORITY AGENT], as ADDITIONAL FIRST-PRIORITY AGENT and AUTHORIZED REPRESENTATIVE for the OTHER FIRST-PRIORITY SECURED PARTIES
		
	By:	 	                             
   
		 	 Name:

		 	 Title:

  

			
	Company Name
	
	              

	              

	              

	
                 

	 Attention of:

	Telecopy:	 	
                 

 [Signature Page to First Lien/First Lien Intercreditor Agreement – Consent of Guarantors]

 Acknowledged by: 
  

			
	 JPMORGAN CHASE BANK, N.A.,

as Credit Facility Agent

		
	By:	 	                            

		 	 Name:

		 	 Title:

	
	 DEUTSCHE BANK TRUST COMPANY AMERICAS,

as Initial Other Authorized Representative

		
	By:	 	                             
       
		 	 Name:

		 	 Title:

	
	 COTY, INC.

		
	By:	 	                            

		 	 Name:

		 	 Title:

  
 [Signature Page to
First Lien/First Lien Intercreditor Agreement – Consent of Guarantors]EX-4.4

 Exhibit 4.4 

Execution Version 
  

 
  

PLEDGE AND SECURITY AGREEMENT 

Dated as of April 21, 2021 

by and among 
 THE GRANTORS
REFERRED TO HEREIN 
 and 

DEUTSCHE BANK TRUST COMPANY AMERICAS, 

as Collateral Agent 
  

 
  

 TABLE OF CONTENTS 
  

							
	 	  	Page	 
	 Article I
	  

	
	 DEFINITIONS
	  

			
	 Section 1.1
	 	Terms Defined in Indenture	  	 	1	 
	 Section 1.2
	 	Terms Defined in UCC	  	 	1	 
	 Section 1.3
	 	Terms Generally	  	 	1	 
	 Section 1.4
	 	Definitions of Certain Terms Used Herein	  	 	1	 
	
	 Article II
	  

	
	 GRANT OF SECURITY INTEREST
	  

	
	 Article III
	  

	
	 REPRESENTATIONS AND WARRANTIES
	  

	 Section 3.1
	 	Title, Perfection and Priority	  	 	9	 
	 Section 3.2
	 	Chattel Paper	  	 	10	 
	 Section 3.3
	 	Type and Jurisdiction of Organization, Organizational and Identification Numbers	  	 	10	 
	 Section 3.4
	 	Principal Location	  	 	10	 
	 Section 3.5
	 	Collateral Locations	  	 	10	 
	 Section 3.6
	 	Intellectual Property	  	 	10	 
	 Section 3.7
	 	No Financing Statements or Security Agreements	  	 	10	 
	 Section 3.8
	 	Pledged Collateral	  	 	10	 
	 Section 3.9
	 	Commercial Tort Claims	  	 	11	 
	 Section 3.10
	 	Perfection Certificate	  	 	11	 
	
	 Article IV
	  

	
	 COVENANTS
	  

			
	 Section 4.1
	 	General	  	 	11	 
	 Section 4.2
	 	Delivery of Pledged Collateral	  	 	13	 
	 Section 4.3
	 	Uncertificated Pledged Collateral	  	 	13	 
	 Section 4.4
	 	Pledged Collateral	  	 	13	 
	 Section 4.5
	 	Intellectual Property	  	 	14	 
	 Section 4.6
	 	Commercial Tort Claims	  	 	15	 
	
	 Article V
	  

	
	 REMEDIES
	  

			
	 Section 5.1
	 	Remedies	  	 	16	 

  
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	 	  	Page	 
	 Section 5.2
	 	Grantors’ Obligations Upon Default	  	 	18	 
	 Section 5.3
	 	Grant of Intellectual Property License	  	 	18	 
	
	 Article VI
	  

	
	 ACCOUNT VERIFICATION; ATTORNEY IN FACT; PROXY
	  

			
	 Section 6.1
	 	Account Verification	  	 	19	 
	 Section 6.2
	 	Authorization for Notes Secured Party to Take Certain Action	  	 	19	 
	
	 Article VII
	  

	
	 GENERAL PROVISIONS
	  

			
	 Section 7.1
	 	Waivers	  	 	20	 
	 Section 7.2
	 	Limitation on Collateral Agent’s and Notes Secured Party’s Duty with Respect to the Collateral	  	 	20	 
	 Section 7.3
	 	Compromises and Collection of Collateral	  	 	21	 
	 Section 7.4
	 	Notes Secured Party Performance of Debtor Obligations	  	 	22	 
	 Section 7.5
	 	No Waiver; Amendments; Cumulative Remedies	  	 	22	 
	 Section 7.6
	 	Limitation by Law; Severability of Provisions	  	 	22	 
	 Section 7.7
	 	Reinstatement	  	 	22	 
	 Section 7.8
	 	Benefit of Agreement	  	 	23	 
	 Section 7.9
	 	Survival of Representations	  	 	23	 
	 Section 7.10
	 	Expenses	  	 	23	 
	 Section 7.11
	 	Additional Grantors	  	 	23	 
	 Section 7.12
	 	Termination or Release	  	 	23	 
	 Section 7.13
	 	Entire Agreement	  	 	24	 
	 Section 7.14
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	24	 
	 Section 7.15
	 	WAIVER OF JURY TRIAL	  	 	24	 
	 Section 7.16
	 	Indemnity	  	 	25	 
	 Section 7.17
	 	Counterparts	  	 	26	 
	 Section 7.18
	 	Mortgages	  	 	26	 
	 Article VIII
	  

	
	 NOTICES
	  

			
	 Section 8.1
	 	Sending Notices	  	 	26	 
	 Section 8.2
	 	Change in Address for Notices	  	 	26	 
	
	 Article IX
	  

	
	 THE INTERCREDITOR AGREEMENT GOVERNS
	  

  
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	 	  	Page

 SCHEDULE: 
  

			
	Schedule I	 	Pledged Collateral
		
	EXHIBITS:	 	
		
	Exhibit A	 	Form of Joinder
	Exhibit B	 	Form of Intellectual Property Security Agreement

  
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 PLEDGE AND SECURITY AGREEMENT 

This PLEDGE AND SECURITY AGREEMENT (this “Security Agreement”) is entered into as of April 21, 2021, by and among
COTY INC., a Delaware corporation (the “Company”), the other entities identified as “Grantors” on the signature pages hereto from time to time (each, a “Subsidiary Party” and, collectively, the
“Subsidiary Parties”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, a New York banking corporation, in its capacity as collateral agent for the Notes Secured Parties (in such capacity, together with its successors in such
capacity, the “Collateral Agent”). 
 PRELIMINARY STATEMENTS 

Reference is made to the Indenture, dated as of April 21, 2021 (as amended, restated, amended and restated, refinanced, replaced,
extended, supplemented and/or otherwise modified from time to time, the “Indenture”), by and among the Company, Deutsche Bank Trust Company Americas, in its capacity as trustee (in such capacity, together with its successors in such
capacity, the “Trustee”) and the Collateral Agent; 
 WHEREAS, the Grantors are entering into this Security
Agreement in order to induce the holders of the Notes to purchase the Notes and to secure the Secured Obligations. 
 ACCORDINGLY,
the parties hereto agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.1 Terms Defined in Indenture. All capitalized terms used herein (including terms used in the preamble and preliminary
statements) and not otherwise defined herein shall have the meanings assigned to such terms in the Indenture. 
 Section 1.2 Terms
Defined in UCC. Terms defined in the UCC that are not otherwise defined in this Security Agreement are used herein as defined in the UCC (and if defined in more than one article of the UCC, the terms shall have the meaning specified in
Article 9 thereof). 
 Section 1.3 Terms Generally. The rules of construction and other interpretive provisions specified
in the Indenture shall apply to this Security Agreement, including with respect to terms defined in the preamble and preliminary statements hereto. 

Section 1.4 Definitions of Certain Terms Used Herein. As used in this Security Agreement, in addition to the terms defined in the
preamble and preliminary statements above, the following terms shall have the following meanings: 
 “Account” shall have
the meaning set forth in Article 9 of the UCC. 
 “Account Debtor” means any Person obligated on an Account. 

 “Article” means a numbered article of this Security Agreement, unless
another document is specifically referenced. 
 “Chattel Paper” shall have the meaning set forth in Article 9 of the
UCC. 
 “Collateral” shall have the meaning set forth in Article II. 

“Commercial Tort Claim” shall have the meaning set forth in Article 9 of the UCC. 

“Control” shall have the meaning set forth in Article 8 of the UCC or, if applicable, in
Section 9-104, 9-105, 9-106 or 9-107 of Article 9 of the UCC. 

“Copyright Office” means the United States Copyright Office of the Library of Congress. 

“Copyrights” means, with respect to any Grantor, all of such Grantor’s right, title, and interest in and to the
following: (a) all copyrights (whether registered or unregistered in the United States or any other country or any political subdivision thereof), rights and interests in such copyrights, works protectable by copyright (whether or not
published), copyright registrations, and applications to register copyright; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing,
including, without limitation, damages or payments for past, present, or future infringements or other violations of any of the foregoing; (d) the right to sue or otherwise recover for past, present, and future infringements or other violations
of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 
 “Credit
Agreement” means that certain Amended and Restated Credit Agreement, dated as of April 5, 2018 (as the same may be amended, restated, amended and restated, refinanced, replaced, extended, supplemented and/or otherwise modified from
time to time), by and among the Coty Inc., as Parent Borrower, Coty B.V., a private company with limited liability (besloten vennootschap met beperkte aansprakelijkheid) incorporated under the laws of the Netherlands, the lenders party
thereto from time to time, the Credit Facility Agent, and the other parties thereto from time to time. 
 “Credit Agreement Security
Agreement” means that certain Pledge and Security Agreement, dated as of October 27, 2015 (as the same may be amended, restated, amended and restated, refinanced, replaced, extended, supplemented and/or otherwise modified from time to
time), by and among Coty, Inc., the other Grantors party thereto and the Credit Facility Agent. 
 “Credit Facility Agent”
means JPMorgan Chase Bank, N.A., as administrative agent and collateral agent under the Credit Agreement and the Credit Agreement Security Agreement, and its successors and assigns. 

“Deposit Account” shall have the meaning set forth in Article 9 of the UCC. 

“Document” shall have the meaning set forth in Article 9 of the UCC. 

“Electronic Chattel Paper” shall have the meaning set forth in Article 9 of the UCC. 

  
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 “Equipment” shall have the meaning set forth in Article 9 of the UCC.

 “Excluded Accounts” means (a) payroll and other employee wage and benefit accounts, (b) tax accounts,
including sales tax accounts, (c) petty cash accounts funded in the ordinary course of business, (d) escrow, fiduciary or trust accounts, (e) designated disbursement accounts and non-U.S. bank
accounts and (f) the funds or other property held in or maintained in any such account identified in clauses (a) through (e). 

“Excluded Assets” means: 

(a) (x) any fee owned real property and (y) any real property leasehold rights and interests; 

(b) motor vehicles, aircraft and other assets subject to certificates of title; 

(c) commercial tort claims that, in the reasonable determination of the Company, are not expected to result in a judgment in excess of
$10,000,000; 
 (d) letter of credit rights (other than to the extent consisting of supporting obligations that can be perfected solely by
the filing of a Uniform Commercial Code financing statement (it being understood that no actions shall be required to perfect a security interest in letter of credit rights other than filing of a Uniform Commercial Code financing statement)); 

(e) any governmental licenses or state or local franchises, charters and authorizations, to the extent a security interest in any such license,
franchise, charter or authorization is prohibited or restricted thereby (excluding any prohibition or restriction that is ineffective under the Uniform Commercial Code); 

(f) assets to the extent the pledge thereof or grant of security interests therein (x) is prohibited or restricted by applicable Law, rule
or regulation, (y) would cause the destruction, invalidation or abandonment of such asset under applicable Law, rule or regulation, or (z) requires any consent, approval, license or other authorization of any third party or Governmental
Authority (excluding any prohibition or restriction that is ineffective under the Uniform Commercial Code); 
 (g) Excluded Equity
Interest;     
 (h) Excluded Accounts; 

(i) any lease, license or agreement, or any property subject to a purchase money security interest, capital lease obligation or similar
arrangement, in each case to the extent that a grant of a security interest therein would violate or invalidate such lease, license or agreement or purchase money or similar arrangement or create a right of termination in favor of any other party
thereto (other than the Company or a Restricted Subsidiary) or otherwise require consent thereunder (other than from the Company or a Restricted Subsidiary) after giving effect to the applicable anti-assignment provisions of the Uniform Commercial
Code, other than proceeds and receivables thereof, the assignment of which is expressly deemed effective under the Uniform Commercial Code notwithstanding such prohibition; 

  
 -3- 

 (j) any assets to the extent a security interest in such assets would result in material
adverse Tax consequences as reasonably determined by the Company; 
 (k) any
intent-to-use trademark application prior to the filing, and acceptance by the U.S. Patent and Trademark Office, of a “Statement of Use” or “Amendment to
Allege Use” with respect thereto, to the extent, if any, that, and solely during the period, if any, in which, the grant of a security interest therein would impair the validity or enforceability of such intent-to-use trademark application under applicable federal law; 
 (l) assets where the cost of
obtaining a security interest therein is excessive in relation to the practical benefit to the Notes Secured Parties afforded thereby as reasonably determined by the Company (which determination shall be made in accordance with the Credit Facility
Agent’s comparable determination under the Credit Agreement); and 
 (m) any acquired property (including property acquired through
acquisition or merger of another entity) if at the time of such acquisition the granting of a security interest therein or the pledge thereof is prohibited by any contract or other agreement (in each case, not created in contemplation thereof) to
the extent and for so long as such contract or other agreement prohibits such security interest or pledge (excluding any prohibition or restriction that is ineffective under the Uniform Commercial Code). 

“Excluded Equity Interest” means (A) margin stock, (B) Equity Interests of any Person other than the Company or any
wholly owned Material Subsidiary that is a Restricted Subsidiary directly owned by the Company or any Subsidiary Loan Party (other than any Equity Interests in King Kylie, LLC, a Delaware limited liability company, owned by any Loan Party), (C)
Equity Interests of any Material Subsidiary that is a wholly owned Foreign Subsidiary or CFC Holdco directly owned by any Grantor in excess of 65% of such Material Subsidiary’s issued and outstanding Equity Interests, (D) any Equity
Interest to the extent the pledge thereof would be prohibited by any Law or contractual obligation (excluding any prohibition or restriction that is ineffective under the Uniform Commercial Code), (E) any Equity Interests with respect to which the
Company (which determination shall be made in accordance with the Credit Facility Agent’s comparable determination under the Credit Agreement) has reasonably determined that the cost or other consequences (including material adverse Tax
consequences) of pledging or perfecting a security interest in such Equity Interests are excessive in relation to the benefit to the Notes Secured Parties of the security to be afforded thereby, (F) the Equity Interests of any Excluded
Subsidiary (other than any Foreign Subsidiary or CFC Holdco), and (G) any other Equity Interests that otherwise constitute Excluded Assets. 

“Exhibit” refers to a specific exhibit to this Security Agreement, unless another document is specifically referenced. 

“Fixture” shall have the meaning set forth in Article 9 of the UCC. 

“General Intangible” shall have the meaning set forth in Article 9 of the UCC. 

“Global Intercompany Note” means the Intercompany Note, dated as of October 27, 2015, executed by and among the Coty
Inc., Coty B.V., and each Restricted Subsidiary (as defined in the Credit Agreement), as amended, restated, supplemented or otherwise modified from time to time. 

  
 -4- 

 “Goods” shall have the meaning set forth in Article 9 of the UCC. 

“Grantors” means the Initial Grantors and each additional Subsidiary Party that becomes party to this Agreement after the
Issue Date. 
 “Indemnitees” shall have the meaning set forth in Section 7.17. 

“Initial Grantors” means the Company and each other entity identified as a “Grantor” on the signature pages hereto
as of the date hereof. 
 “Instrument” shall have the meaning set forth in Article 9 of the UCC. 

“Intellectual Property” means, with respect to any Grantor, all intellectual property of every kind and nature now owned or
hereafter acquired by such Grantor, including Patents, Copyrights, Trademarks, Licenses and all related documentation and registrations and all additions, improvements or accessions to any of the foregoing. 

“Intellectual Property Security Agreements” means agreements substantially in the form of the Form of Intellectual
Property Security Agreement set forth in Exhibit B hereto. 
 “Intercreditor Agreement” means
that certain First Lien/First Lien Intercreditor Agreement, dated as of the date hereof, by and among the Company, the Collateral Agent, the Credit Facility Agent and the other parties from time to time party thereto (as may be amended, restated,
supplemented or otherwise modified from time to time). 
 “Inventory” shall have the meaning set forth in Article 9 of the
UCC. 
 “Investment Property” shall have the meaning set forth in Article 9 of the UCC. 

“Letter-of-Credit Right” shall have the
meaning set forth in Article 9 of the UCC. 
 “Licenses” means, with respect to any Grantor, all of such Grantor’s
right, title, and interest in and to (a) any and all written licensing agreements or similar arrangements, whether as licensor or licensee, in and to (1) Patents, (2) Copyrights, or (3) Trademarks, (b) all income, royalties,
damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past, present, and future breaches thereof, and (c) all rights to sue for past, present, and
future breaches thereof. 
 “Note Documents” means this Security Agreement, the Indenture, the Notes and any other
document, instrument or agreement executed and delivered pursuant to any of the foregoing, including for purposes of securing the obligations thereunder. 

“Notes Secured Parties” means the Trustee, the Collateral Agent and each holder of the Notes. 

  
 -5- 

 “Patents” means, with respect to any Grantor, all of such Grantor’s
right, title, and interest in and to: (a) any and all patents and patent applications (whether issued or applied-for in the United States or any other country or any political subdivision thereof);
(b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part
thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without limitation, damages and payments for past and future infringements thereof; (e) all rights
to sue for past, present, and future infringements thereof; and (f) all rights corresponding to any of the foregoing throughout the world. 

“Perfection Certificate” means the perfection certificate delivered by the Company to the Collateral Agent on the Issue Date.

 “Pledged Collateral” means, collectively, (a) all of the Equity Interests of Restricted Subsidiaries that are
Material Subsidiaries (other than Excluded Equity Interests) directly owned by any Grantor, including such Equity Interests described in Schedule I issued by the entities named therein, and all other Equity Interests
required to be pledged by any Grantor pursuant to the terms of the Indenture and (b) each promissory note, Tangible Chattel Paper and Instrument evidencing Indebtedness for borrowed money (other than any intercompany Indebtedness) in excess of
$5,000,000 (individually) owed to any Grantor (other than such promissory notes, Tangible Chattel Paper and Instruments that are Excluded Assets) described in Schedule I and issued by the entities named therein, the Global
Intercompany Note and all other Indebtedness owed to any Grantor hereafter that is evidenced by a promissory note, Tangible Chattel Paper or an Instrument evidencing Indebtedness for borrowed money (other than any intercompany Indebtedness) in
excess of $5,000,000 (individually) and that is required to be pledged by any Grantor pursuant to the terms of the Indenture. 

“Receivables” means the Accounts, Chattel Paper, Documents, Investment Property, Instruments and any other rights or claims
to receive money that are General Intangibles or that are otherwise included as Collateral. 
 “Section” means a numbered
section of this Security Agreement, unless another document is specifically referenced. 
 “Secured Obligations” means
“Obligations” (as such term is defined in the Indenture) under the Notes and the Indenture. 
 “Security” shall
have the meaning set forth in Article 8 of the UCC. 
 “Stock Rights” means all dividends, instruments or other
distributions and any other right or property which any Grantor shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interest constituting Collateral, any
right to receive an Equity Interest constituting Collateral and any right to receive earnings, in which such Grantor now has or hereafter acquires any right, issued by an issuer of such Equity Interest. 

“Subsidiary Parties” means, collectively, each Restricted Subsidiary that is party to this Security Agreement as of the date
hereof and each Restricted Subsidiary that becomes a party to this Security Agreement pursuant to a joinder to this Security Agreement in accordance with Section 7.11 herein and the terms of the Indenture. 

  
 -6- 

 “Supporting Obligation” shall have the meaning set forth in Article 9
of the UCC. 
 “Tangible Chattel Paper” shall have the meaning set forth in Article 9 of the UCC. 

“Termination Date” means the earlier of the date on which (a) all Secured Obligations are paid in full in cash (other
than contingent obligations as to which no claim has been asserted) and (b) the Indenture and the Notes are discharged in full (or this Security Agreement is otherwise terminated), in accordance with the terms of the Indenture. 

“Trademarks” means, with respect to any Grantor, all of such Grantor’s right, title, and interest in and to the
following: (a) all trademarks (including service marks), trade names, trade dress, and trade styles, whether registered or unregistered in the United States and any other country or any political subdivision thereof, and the registrations and
applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto,
including, without limitation, damages, claims, and payments for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and
demands for royalties owing; and (e) all rights corresponding to any of the foregoing throughout the world. 
 “Uniform
Commercial Code” or “UCC” means the Uniform Commercial Code as the same may from time to time be in effect in the State of New York; provided that, if by reason of any mandatory provisions of law, the perfection, the
effect of perfection or non-perfection or priority of the security interests granted to the Collateral Agent are governed by the Uniform Commercial Code as in effect in a jurisdiction of the United States
other than New York, then “Uniform Commercial Code” or “UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of such perfection, effect of perfection or non-perfection or priority. 
 “USPTO” means the United States Patent and Trademark
Office. 
 ARTICLE II 

GRANT OF SECURITY INTEREST 

Each Grantor hereby pledges, assigns and grants to the Collateral Agent, on behalf of and for the benefit of the Notes Secured Parties, and to
secure the prompt and complete payment and performance of all Secured Obligations, a security interest in all of its right, title and interest in, to and under all of the following property and other assets, whether now owned by or owing to, or
hereafter acquired by or arising in favor of, such Grantor (including under any trade name or derivations thereof), and regardless of where located (all of which are collectively referred to as the “Collateral”): 

(a) all Accounts; 

  
 -7- 

 (b) all Chattel Paper (including Electronic Chattel Paper and Tangible
Chattel Paper); 
 (c) all Intellectual Property; 

(d) all Documents; 

(e) all Equipment; 

(f) all Fixtures; 

(g) all General Intangibles; 

(h) all Goods; 

(i) all Instruments; 

(j) all Inventory; 

(k) all Investment Property; 

(l) all Letter-of-Credit Rights and Supporting
Obligations; 
 (m) all Deposit Accounts; 

(n) all Commercial Tort Claims as specified from time to time in Schedule 9 of the Perfection Certificate; 

(o) all information contained in books, records, files, correspondence, computer programs, tapes, disks and related data
processing software identifying or pertaining to any of the foregoing or showing the amounts thereof or payments thereon or otherwise necessary or helpful in the realization thereon or the collection thereof; and 

(p) any and all accessions to, substitutions for and replacements, products and cash and
non-cash proceeds (including Stock Rights) of the foregoing in whatever form, including cash, negotiable instruments and other instruments for the payment of money, Chattel Paper, security agreements and other
documents. 
 Notwithstanding the foregoing or anything herein to the contrary in this Agreement or any other Note Document, in no event
shall the “Collateral” (or any defined term used in the definition thereof) include, or the security interest granted hereunder attach to, any Excluded Asset. 

ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

The Grantors, jointly and severally, represent and warrant to the Collateral Agent, for the benefit of the Notes Secured Parties, that: 

  
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 Section 3.1 Title, Perfection and Priority. 

(a) Each Grantor has good and valid rights in, or the power to transfer, the Collateral which it has purported to grant a security interest
hereunder, free and clear of all Liens except for Liens permitted under Section 4.1(e), and has full power and authority to grant to the Collateral Agent the security interest in such Collateral pursuant hereto. Except as otherwise contemplated
hereby or under any other Note Document and subject to the limitations set forth therein, this Security Agreement creates in favor of the Collateral Agent, for the benefit of the Notes Secured Parties, a valid security interest in the Collateral
granted by each Grantor. No material consent or approval of, registration or filing with, or any other action by any Governmental Authority is required for the grant of the security interest pursuant to this Security Agreement, except (i) such
as have been obtained, taken, given or made and are in full force and effect (except to the extent not required to be obtained, taken, given or made or in full force and effect pursuant to the terms of the Note Documents), (ii) for filings and
registrations necessary to perfect Liens created pursuant to the Note Documents and (iii) those approvals, consents, exemptions, authorizations or other actions, notices or filings, the failure of which to obtain or make would not reasonably be
expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (b) The security interest granted pursuant to this Security
Agreement constitutes legal and valid security interests in all Collateral in favor of the Collateral Agent, on behalf of the Notes Secured Parties, securing the prompt and complete payment and performance of the Secured Obligations. Subject to the
filing of financing statements naming each Grantor as “debtor” and the Collateral Agent as “secured party” and describing the Collateral in the appropriate filing offices and to value being given, the security interest granted
pursuant to this Security Agreement is, and shall be, a legal, valid and perfected security interest in all Collateral in which a security interest may be perfected by filing, recording or registering a financing statement or analogous document in
the United States pursuant to the UCC or other applicable law, prior to any other Lien on any of the Collateral, other than the security interest granted to the Collateral Agent, for the benefit of the Notes Secured Parties, hereunder and Permitted
Liens. 
 (c) Notwithstanding anything to the contrary herein, no Grantor shall be required to perfect the security interests created hereby
by any means other than (i) filings pursuant to the UCC, (ii) filing and recording fully executed Intellectual Property Security Agreements (x) in the USPTO or (y) in the Copyright Office, as applicable, (iii) in the case of
Pledged Collateral that constitutes Tangible Chattel Paper, Instruments or certificated Securities, in each case, to the extent included in the Collateral and required by Section 4.2 herein, and subject to the terms of the Intercreditor
Agreement, delivery to the Collateral Agent to be held in its possession in the United States, and (iv) in the case of Collateral that consists of Commercial Tort Claims, taking the actions specified in Section 4.6. No Grantor shall be
required to (x) grant the Collateral Agent perfection through control agreements or perfection by Control with respect to any Collateral (other than in respect of Pledged Collateral) or (y) take any actions under any laws outside of the
United States to grant, perfect or provide for the enforcement of any security interest (including any Intellectual Property registered in any non-U.S. jurisdiction) (it being understood that there shall be no
security agreements or pledge agreements governed under the Laws of any non-U.S. jurisdiction or any requirement to make any filings in any foreign jurisdiction including with respect to foreign Intellectual
Property). Notwithstanding anything herein (including this Section 3.1), no Grantor 

  
 -9- 

 
makes any representation or warranty as to (A) the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or
security interest in any Equity Interests of any Foreign Subsidiary, or as to the rights and remedies of the Collateral Agent or any Notes Secured Party with respect thereto, under foreign Law, (B) the pledge or creation of any security
interest, or the effects of perfection or non-perfection, the priority or the enforceability of any pledge of or security interest to the extent such pledge, security interest, perfection or priority is not
required pursuant to the terms of the Note Documents or (C) on the Issue Date, the pledge or creation of any security interest, or the effects of perfection or non-perfection, the priority or
enforceability of any pledge or security interest to the extent not required on the Issue Date pursuant to Note Documents. 

Section 3.2 Chattel Paper. Schedule I hereto lists all Tangible Chattel Paper with a stated amount in
excess of $5,000,000 of each Grantor as of the Issue Date. 
 Section 3.3 Type and Jurisdiction of Organization, Organizational and
Identification Numbers. The type of entity of each Grantor and its jurisdiction of organization, in each case as of the Issue Date, are set forth in the Perfection Certificate. 

Section 3.4 Principal Location. Each Grantor’s mailing address and the location of its place of business (if it has only one)
or its chief executive office (if it has more than one place of business), in each case as of the Issue Date, is disclosed in the Perfection Certificate. 

Section 3.5 Collateral Locations. As of the Issue Date, Schedules 2(b) and 2(d) of the Perfection Certificate set forth,
respectively, (i) all locations where each Grantor maintains any books or records relating to any Accounts Receivable, having a fair market value in excess of $7,500,000 and (ii) all other locations where each Grantor maintains any of the
Collateral valued in excess of $7,500,000 consisting of inventory or equipment. 
 Section 3.6 Intellectual Property. As of the
Issue Date, Schedule 8(a) and Schedule 8(b) of the Perfection Certificate sets forth a true and accurate list of all United States registrations of and applications for Intellectual Property owned by each Grantor. 

Section 3.7 No Financing Statements or Security Agreements. As of the Issue Date, no Grantor has filed or consented to the filing
of any financing statement or security agreement naming a Grantor as debtor and describing all or any portion of the Collateral that has not lapsed or been terminated except (a) for financing statements or security agreements naming the
Collateral Agent, on behalf of the Notes Secured Parties, as the secured party and (b) as permitted by Sections 4.1(e) and 4.1(f). 

Section 3.8 Pledged Collateral. 

(a) Schedule I hereto sets forth a complete and accurate list, as of the Issue Date, of all of the Pledged Collateral
(other than the Global Intercompany Note) and, with respect to any Pledged Collateral constituting any Equity Interest, the percentage of the total issued and outstanding Equity Interests of the issuer represented thereby. As of the Issue Date, each
Grantor is the legal and beneficial owner of the Pledged Collateral listed on Schedule I as being owned by it, free and clear of any Liens, except for the security interest granted to the Collateral Agent, for the benefit
of the Notes Secured Parties, hereunder and Permitted Liens. Each Grantor further 

  
 -10- 

 
represents and warrants that, as of the Issue Date, all Pledged Collateral constituting an Equity Interest issued by a Grantor or a wholly owned Subsidiary of a Grantor has been (to the extent
such concepts are relevant with respect to such Pledged Collateral) duly authorized and validly issued by the issuer thereof and are fully paid and (if applicable) non-assessable. 

Section 3.9 Commercial Tort Claims. As of the Issue Date, no Grantor holds any Commercial Tort Claims having a value in excess of
$7,500,000 for which such Grantor has filed a complaint in a court of competent jurisdiction, except as indicated in Schedule 9 of the Perfection Certificate. 

Section 3.10 Perfection Certificate. The Perfection Certificate has been duly prepared, completed and executed and the information
set forth therein is correct and complete in all material respects as of the Issue Date. 
 ARTICLE IV 

COVENANTS 
 From the Issue
Date, and thereafter until the Termination Date, each Grantor agrees that: 
 Section 4.1 General. 

(a) Collateral Records. Each Grantor will maintain complete and accurate books and records in accordance with the requirements of the
Indenture. 
 (b) Authorization to File Financing Statements; Ratification. Each Grantor (or its designee) shall file all financing
statements, amendments to financing statements, continuation statements and other documents and take such other actions as may from time to time be necessary or reasonably requested by the Collateral Agent in order to perfect and maintain a
perfected security interest in the Collateral to the extent required by Section 3.1. Any such financing statement, amendment to any such financing statement and any continuation statement filed by a Grantor may be filed in any filing office in
any applicable Uniform Commercial Code jurisdiction and may (i) describe the Collateral in the same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner such as
“all assets” or “all personal property, whether now owned or hereafter acquired” of such Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and (ii) contain any other information
required by part 5 of Article 9 of the UCC for the sufficiency or filing office acceptance of any financing statement or amendment, including, if applicable, (A) whether such Grantor is an organization, the type of organization and any
organization identification number issued to such Grantor and (B) in the case of a financing statement filed as a Fixture filing, a sufficient description of real property to which the Collateral relates. 

(c) Further Assurances. Each Grantor will, if reasonably requested by the Credit Facility Agent (with respect to comparable actions
requested under the Credit Agreement Security Agreement) or the Collateral Agent: 

  
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 (i) take or cause to be taken such further actions in accordance with
Sections 4.18 and 4.19 and Article 10 of the Indenture; 
 (ii) subject to and in accordance with the terms of the Indenture,
take such other actions as shall be necessary or appropriate under applicable law to evidence or perfect its Lien on any Collateral, or otherwise to give effect to the intent of this Security Agreement; and 

(iii) defend the security interests created hereby and priority thereof against the claims and demands not expressly permitted
by the Indenture of all Persons whomsoever. 
 (d) Disposition of Collateral. No Grantor will sell, lease, transfer or otherwise
dispose of the Collateral except for licenses, sales, leases, transfers and other dispositions permitted under the Indenture. 
 (e)
Liens. No Grantor will create, incur, or suffer to exist any Lien on the Collateral except (i) the security interest created by this Security Agreement, and (ii) Permitted Liens. 

(f) Other Financing Statements. No Grantor will file any financing statement or authorize the filing of any financing statement naming
it as debtor covering all or any portion of the Collateral, except to cover security interests as permitted by Section 4.1(e). 
 (g)
Change of Name, Etc. Each Grantor agrees to promptly furnish to the Collateral Agent (and in any event within sixty (60) days of such change or such longer period as the Collateral Agent may agree or the Credit Facility Agent may agree
with respect to the Credit Agreement Security Agreement) written notice of any change in: (i) such Grantor’s legal name; (ii) the location of such Grantor’s chief executive office; or (iii) such Grantor’s organizational
legal entity designation or jurisdiction of incorporation or formation. Reasonably promptly after any change referred to in the preceding sentence, such Grantor shall, to the extent necessary, make all necessary Uniform Commercial Code amendment
filings necessary to preserve the perfection and priority of the security interest created by this Security Agreement (to the extent required by this Security Agreement and the Indenture) and shall confirm to the Collateral Agent in writing (and, as
and when available, provide any related information reasonably requested by the Collateral Agent) that all filings have been made under the Uniform Commercial Code, and all other actions have been taken, that are required by applicable Law so that
such change will not at any time materially and adversely affect the validity, perfection or priority of any Lien on any of the Collateral. 

(h) Exercise of Duties. Anything herein to the contrary notwithstanding, (a) the exercise by the Collateral Agent of any of the
rights hereunder shall not release any Grantor from any of its duties or obligations under the contracts and agreements included in the Collateral and (b) no Notes Secured Party shall have any obligation or liability under the contracts and
agreements included in the Collateral by reason of this Security Agreement or any other Note Document, nor shall any Notes Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to
collect or enforce any claim for payment assigned hereunder. 

  
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 Section 4.2 Delivery of Pledged Collateral. Subject to the Intercreditor
Agreement, each Grantor will deliver to the Collateral Agent (or its non-fiduciary agent or designee) upon execution of this Security Agreement all certificates or instruments, if any, representing or
evidencing the Pledged Collateral (other than checks received in the ordinary course of business), together with duly executed instruments of transfer or assignments in blank. If any Grantor shall at any time after the Issue Date hold or acquire any
other Pledged Collateral (other than checks received in the ordinary course of business), such Grantor shall, within sixty (60) days (or such longer period as the Collateral Agent may agree or the Credit Facility Agent may agree with respect to
the Credit Agreement Security Agreement), submit to the Collateral Agent a supplement to Schedule I hereto to reflect such additional Pledged Collateral (provided any Grantor’s failure to do so shall not impair the Collateral Agent’s
security interest therein) and, subject to the Intercreditor Agreement, deliver to the Collateral Agent all certificates or instruments, if any, representing such Pledged Collateral, together with duly executed instruments of transfer or assignments
in blank. 
 Section 4.3 Uncertificated Pledged Collateral. Unless otherwise consented to by the Credit Facility Agent with
respect to the Credit Agreement Security Agreement, Equity Interests required to be pledged hereunder in any Domestic Subsidiary that is organized as a limited liability company or limited partnership and pledged hereunder shall either (i) be
represented by a certificate, and in the organizational documents of such entity, the applicable Grantor shall cause the issuer of such interests to elect to treat such interests as a “security” within the meaning of Article 8 of the
Uniform Commercial Code of its jurisdiction of organization or formation, as applicable or (ii) not be represented by a certificate and the applicable Grantor shall cause the issuer of such interests not to have elected to treat such interests
as a “security” within the meaning of Article 8 of the UCC. 
 Section 4.4 Pledged Collateral. 

(a) Registration in Nominee Name; Denominations. Subject to the Intercreditor Agreement, the Collateral Agent (or its non-fiduciary agent or designee), on behalf of the Notes Secured Parties, shall hold certificated Pledged Collateral in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Collateral
Agent. Following the occurrence and during the continuance of an Event of Default, each Grantor will promptly give to the Collateral Agent (or its non-fiduciary agent or designee) copies of any notices or
other communications received by it with respect to Pledged Collateral registered in the name of such Grantor. Subject to the Intercreditor Agreement, following the occurrence and during the continuance of an Event of Default and after prior written
notice to the applicable Grantor, the Collateral Agent (or its non-fiduciary agent or designee) shall at all times have the right to exchange the certificates representing Pledged Collateral for certificates
of smaller or larger denominations for any purpose consistent with this Security Agreement. 
 (b) Exercise of Rights in Pledged
Collateral. Subject to the Intercreditor Agreement, the parties hereto agree that: 

  
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 (i) Without in any way limiting the foregoing and subject to
clause (ii) below, each Grantor shall have the right to exercise all voting rights or other rights relating to the Pledged Collateral for all purposes not prohibited by this Security Agreement, the Indenture, or any other Note Document.

 (ii) Each Grantor will permit the Collateral Agent (or its non-fiduciary agent or
designee) at any time after the occurrence and during the continuance of an Event of Default, after prior written notice to the applicable Grantor, to exercise all voting rights or other rights relating to Pledged Collateral, including, without
limitation, exchange, subscription or any other rights, privileges, or options pertaining to any Equity Interest or Investment Property constituting Pledged Collateral as if it were the absolute owner thereof; provided, that, unless otherwise
directed by the Holders that hold the amount of notes required to provide direction as set out in the Indenture, the Collateral Agent shall have the right at any time after the occurrence and during the continuance of an Event of Default to permit
the Grantors to exercise such rights. 
 (iii) Each Grantor shall be entitled to receive and retain any and all dividends,
interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral to the extent and only to the extent that such dividends, interest, principal and other distributions are permitted by, and otherwise paid or
distributed in accordance with, the terms and conditions of the Indenture, the other Note Documents and applicable law; provided, however, that any non-cash dividends, interest, principal or
other distributions that would constitute Pledged Collateral, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Collateral or received in exchange for Pledged
Collateral or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged Collateral, and,
if received by any Grantor, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be held in trust for the benefit of the Notes Secured Parties and shall be forthwith
delivered to the Collateral Agent (or its non-fiduciary agent or designee) in the same form as so received (with any necessary endorsement or instrument of assignment). 

Section 4.5 Intellectual Property. 

(a) Upon the occurrence and during the continuance of an Event of Default, at the request of the Collateral Agent, each Grantor will use
commercially reasonable efforts to obtain all consents and approvals necessary or appropriate for the assignment to or for the benefit of the Collateral Agent of any Intellectual Property held by such Grantor in order to enforce the security
interests granted hereunder. 

  
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 (b) Each Grantor shall notify the Collateral Agent promptly in writing if it knows that any
application or registration relating to any Patent, Trademark or Copyright (now or hereafter existing) included in the Collateral and material to the conduct of such Grantor’s business may in such Grantor’s reasonable business judgment
become abandoned or dedicated to the public, or of any material adverse determination or development (including the institution of, or any such determination or development in, any proceeding in the USPTO, the Copyright Office or any court (other
than routine office actions in the ordinary course)) regarding such Grantor’s ownership of any such material registered or applied for Patent, Trademark or Copyright, its right to register the same, or to keep and maintain the same. 

(c) In the event that any Grantor, either directly or through any agent, employee, licensee or designee, (i) files an application for the
registration of (or otherwise becomes the owner of) any Patent, Trademark or Copyright with the USPTO or the Copyright Office, (ii) acquires any United States applications for or registrations of any Patent, Trademark, or Copyright, or
(iii) obtains an exclusive license to one or more Copyrights registered with the Copyright Office, such Grantor will, concurrently with any delivery of the information pursuant to Section 4.03(a) of the Indenture, provide the Collateral
Agent written notice thereof, and any such Intellectual Property shall automatically constitute Collateral and shall be subject to the security interest created by this Security Agreement. Upon request of the Collateral Agent, such Grantor shall
promptly execute and deliver any and all security agreements or other instruments as the Collateral Agent may reasonably request to evidence the Collateral Agent’s security interest in such Intellectual Property and the General Intangibles of
such Grantor relating thereto or represented thereby. 
 (d) Except to the extent permitted by Section 4.5(f) below, each Grantor shall
take all actions reasonably necessary, or otherwise reasonably requested by the Collateral Agent, to maintain and pursue each application, to obtain the relevant registration and to maintain the registration of each of the Patents, Trademarks and
Copyrights (now or hereafter existing) in each case that is material to the conduct of such Grantor’s business, including the filing of applications for renewal, affidavits of use, affidavits of
non-contestability and, if consistent with good business judgment, to initiate opposition, interference and cancellation proceedings against third parties. 

(e) Each Grantor shall, upon such Grantor obtaining knowledge thereof, promptly notify the Collateral Agent in writing and shall, if consistent
with good business judgment, promptly sue for any material infringement, misappropriation or dilution of any Patent, Trademark or Copyright and to recover any and all damages for such infringement, misappropriation or dilution, or shall take such
other actions as are appropriate under the circumstances in its reasonable business judgment to protect such Patent, Trademark or Copyright unless it shall reasonably determine that such Patent, Trademark or Copyright is not material to the conduct
of the business of the Company and its Subsidiaries (taken as a whole). 
 (f) Nothing in this Security Agreement shall prevent any Grantor
from taking any action with respect to any of its Intellectual Property to the extent permitted by the Indenture.  

Section 4.6 Commercial Tort Claims. Each Grantor shall promptly notify the Collateral Agent in writing of any Commercial Tort
Claims for which such Grantor has filed complaint(s) in court(s) of competent jurisdiction, unless the Collateral Agent otherwise consents or the Credit Facility Agent otherwise consents with regard to the Credit Agreement Security Agreement, and
shall update Schedule 9 of the Perfection Certificate, thereby granting to the Collateral Agent a security interest in such Commercial Tort Claim(s). The requirement in the preceding sentence shall not apply to the extent that the amount of
such Commercial Tort Claim does not exceed $7,500,000 held by each Grantor or to the extent such Grantor shall have previously notified the Collateral Agent in writing with respect to any previously held or acquired Commercial Tort Claim. 

  
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 ARTICLE V 

REMEDIES 

Section 5.1 Remedies. Subject to the terms of the Intercreditor Agreement, upon the occurrence and during the continuance of an
Event of Default and after written notice by the Collateral Agent of its intent to do so: 
 (a) the Collateral Agent may
(and at the direction of the Holders that hold the amount of notes required to provide direction as set out in the Indenture, shall) exercise any or all of the following rights and remedies: 

(i) those rights and remedies provided in this Security Agreement, the Indenture or any other Note Document; provided
that this Section 5.1(a) shall not be understood to limit any rights available to the Collateral Agent and the Notes Secured Parties prior to an Event of Default; 

(ii) those rights and remedies available to a secured party under the UCC (whether or not the UCC applies to the affected
Collateral) or under any other applicable law (including, without limitation, any law governing the exercise of a bank’s right of setoff or bankers’ Lien) when a debtor is in default under a security agreement; 

(iii) enter the premises of any Grantor where any Collateral is located (through self-help, and without judicial process) to,
subject to the mandatory requirements of applicable Law, collect, receive, assemble, process, appropriate, sell, lease, assign, grant an option or options to purchase or otherwise dispose of, deliver, or realize upon, the Collateral or any part
thereof in one or more parcels at public or private sale or sales (which sales may be adjourned or continued from time to time with or without notice and may take place at such Grantor’s premises or elsewhere), for cash, on credit or for future
delivery without assumption of any credit risk, and upon such other terms as the Collateral Agent may deem commercially reasonable; and 

(iv) transfer and register in its name or in the name of its nominee the whole or any part of the Pledged Collateral, to
exchange certificates or instruments representing or evidencing Pledged Collateral for certificates or instruments of smaller or larger denominations, to exercise the voting and all other rights as a holder with respect thereto, to collect and
receive all cash dividends, interest, principal and other distributions made thereon and to otherwise act with respect to the Pledged Collateral as though the Collateral Agent was the outright owner thereof. 

  
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 (b) Each Grantor acknowledges and agrees that the compliance by the
Collateral Agent, on behalf of the Notes Secured Parties, with any applicable state or federal law requirements in connection with a disposition of the Collateral will not be considered to adversely affect the commercial reasonableness of any sale
of the Collateral. 
 (c) The Collateral Agent shall have the right upon any public sale or sales and, to the extent
permitted by law, upon any private sale or sales, to purchase for the benefit of the Collateral Agent and the Notes Secured Parties, the whole or any part of the Collateral so sold, free of any right of equity redemption, which equity redemption
each Grantor hereby expressly releases. 
 (d) Until the Collateral Agent is able to effect a sale, lease, transfer or other
disposition of Collateral, the Collateral Agent shall have the right to hold or use Collateral, or any part thereof, to the extent that it deems appropriate for the purpose of preserving Collateral or the value of the Collateral, or for any other
purpose deemed appropriate by the Collateral Agent. The Collateral Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of Collateral and to enforce any of the Collateral Agent’s remedies (for the benefit
of the Collateral Agent and Notes Secured Parties) with respect to such appointment without prior notice or hearing as to such appointment. 

(e) Notwithstanding the foregoing, neither the Collateral Agent nor the Notes Secured Parties shall be required to
(i) make any demand upon, or pursue or exhaust any of their rights or remedies against, the Grantors, any other obligor, guarantor, pledgor or any other Person with respect to the payment of the Secured Obligations or to pursue or exhaust any
of their rights or remedies with respect to any Collateral therefor or any direct or indirect guarantee thereof, (ii) marshal the Collateral or any guarantee of the Secured Obligations or to resort to the Collateral or any such guarantee in any
particular order, or (iii) effect a public sale of any Collateral. 
 (f) Each Grantor recognizes that the Collateral
Agent may be unable to effect a public sale of any or all the Pledged Collateral and may be compelled to resort to one or more private sales thereof. Each Grantor also acknowledges that any private sale may result in prices and other terms less
favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially unreasonable manner solely by virtue of such sale being
private. The Collateral Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit any Grantor or the issuer of the Pledged Collateral to register such securities for public sale
under the Securities Act of 1933, as amended, or under applicable state securities laws, even if any Grantor and the issuer would agree to do so (it being acknowledged and agreed that no Grantor shall have any obligation hereunder to do so). 

The Collateral Agent shall give the applicable Grantor(s) ten days’ prior written notice (which each Grantor agrees is reasonable
notice within the meaning of Section 9-611 of the UCC or its equivalent in other jurisdictions) of the Collateral Agent’s intention to make any sale or other disposition of Collateral. 

  
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 Section 5.2 Grantors’ Obligations Upon Default. Upon the
written request of the Collateral Agent after the occurrence and during the continuance of an Event of Default, each Grantor will, subject to the terms of the Intercreditor Agreement: 

(a) assemble and make available to the Collateral Agent the Collateral and all books and records relating thereto at any place
or places reasonably specified by the Collateral Agent, whether at such Grantor’s premises or elsewhere; and 
 (b)
permit the Collateral Agent, by the Collateral Agent’s representatives and agents, to enter, occupy and use any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take
possession of all or any part of the Collateral or the books and records relating thereto, or both, to remove all or any part of the Collateral or the books and records relating thereto, or both, and to conduct sales of the Collateral, without any
obligation to pay any Grantor for such use and occupancy. 
 Section 5.3 Grant of Intellectual Property License. For the purpose
of enabling the Collateral Agent to exercise the rights and remedies under this Article V upon the occurrence and during the continuance of an Event of Default, at such time as the Collateral Agent shall be lawfully
entitled to exercise such rights and remedies, each Grantor hereby (a) grants to the Collateral Agent, for the benefit of the Collateral Agent and the Notes Secured Parties, an irrevocable (during the Event of Default) nonexclusive license
(exercisable without payment of royalty or other compensation to such Grantor) to use, license or sublicense any Intellectual Property rights now owned or hereafter acquired by such Grantor, wherever the same may be located, and including in such
license access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof; provided, however, (i) that such licenses to be
granted hereunder with respect to Trademarks shall be subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to preserve the validity of such Trademarks; (ii) that
such licenses granted with regard to trade secrets shall be subject to the requirement that the secret status trade secrets be maintained and reasonable steps are taken to ensure that they are maintained; and (iii) that the Collateral Agent
shall have no greater rights than those of any such Grantor under such license or sublicense; and (b) as to the rights of Grantors themselves, and subject to the terms of the Intercreditor Agreement and the rights of any third party at law, in
equity, or pursuant to any license agreement entered into by a Grantor, irrevocably agrees that, at any time and from time to time following the occurrence and during the continuance of an Event of Default, the Collateral Agent may sell or license
any Grantor’s Inventory directly to any Person, including without limitation to Persons who have previously purchased any Grantor’s Inventory from such Grantor and in connection with any such sale or other enforcement of the Collateral
Agent’s rights under this Security Agreement, may (subject to any restrictions contained in applicable third party licenses entered into by a Grantor) sell Inventory which bears any Trademark owned by or licensed to any Grantor and any
Inventory that is covered by any Intellectual Property interest owned by or licensed to such Grantor and the Collateral Agent may finish any work in process and affix any relevant Trademark owned by or licensed to any Grantor and sell such Inventory
as provided herein. The use of the license granted pursuant to clause (a) of the preceding sentence by the Collateral Agent may be exercised, at the option of the Collateral Agent, only upon the occurrence and during the continuance of an Event
of Default; provided, however, that any permitted license, sublicense or other transaction entered into by the Collateral Agent in accordance herewith shall be binding upon each Grantor notwithstanding any subsequent cure of an Event
of Default. 

  
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 ARTICLE VI 

ACCOUNT VERIFICATION; ATTORNEY IN FACT; PROXY 

Section 6.1 Account Verification. The Grantors acknowledge that after the occurrence and during the continuance of an Event of
Default after prior written notice to the relevant Grantor of its intent to do so, the Collateral Agent may in its own name, or in the name of such Grantor, communicate with the Account Debtors of such Grantor to verify with such Persons the
existence, amount and terms of, and any other matter reasonably relating to, the Accounts owing by such Account Debtor to such Grantor (including any Instruments, Chattel Paper, payment intangibles and/or other Receivables that are Collateral
relating to such Accounts). 
 Section 6.2 Authorization for Notes Secured Party to Take Certain Action. 

(a) Subject to the terms of the Intercreditor Agreement, each Grantor hereby (i) authorizes the Collateral Agent, without obligation, at
any time and from time to time (1) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable to perfect and to maintain the perfection and priority of the Collateral Agent’s security interest in
the Collateral, including, without limitation, to file financing statements permitted under Section 4.1(b) and (2) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect
to the Collateral as a financing statement and to file any other financing statement or amendment of a financing statement (which would not add new collateral or add a debtor) in such offices as shall be necessary or desirable to perfect and to
maintain the perfection and priority of the Collateral Agent’s security interest in the Collateral, including, without limitation, to file financing statements permitted under Section 4.1(b), it being expressly understood that the
Collateral Agent shall not have an obligation to do so, and (ii) appoints, effective upon the occurrence and during the continuance of an Event of Default, the Collateral Agent as its attorney-in-fact (1) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for Permitted Liens), (2) to endorse and collect any cash proceeds of the Collateral
and to apply the proceeds of any Collateral received by the Collateral Agent to the Secured Obligations as provided herein or in the Indenture or any other Note Document, (3) to demand payment or enforce payment of the Receivables in the name
of the Collateral Agent or any Grantor and to endorse any and all checks, drafts, and other instruments for the payment of money relating to the Receivables, (4) to sign any Grantor’s name on any invoice or bill of lading relating to the
Receivables, drafts against any Account Debtor of such Grantor, assignments and verifications of Receivables, (5) to exercise all of any Grantor’s rights and remedies with respect to the collection of the Receivables and any other
Collateral, (6) to settle, adjust, compromise, extend or renew the Receivables, (7) to settle, adjust or compromise any legal proceedings brought to collect Receivables and (8) to use information contained in any data processing,
electronic or information systems relating to Collateral; and each Grantor agrees to reimburse the Collateral Agent for any reasonable payment made or any reasonable documented expense incurred by the Collateral Agent in connection with any of the
foregoing, in accordance with, and solely to the extent required by, Section 7.06 of the Indenture; provided that, this authorization shall not relieve any Grantor of any of its obligations under this Security Agreement or under the
Indenture. 

  
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 (b) All acts of said attorney or designee are hereby ratified and approved by the Grantors.
The powers conferred on the Collateral Agent, for the benefit of the Collateral Agent and Notes Secured Parties, under this Section 6.2 are solely to protect the Collateral Agent’s interests in the Collateral and shall not impose any duty
upon the Collateral Agent or any Notes Secured Party to exercise any such powers. 
 ARTICLE VII 

GENERAL PROVISIONS 

Section 7.1 Waivers. Except as set forth in Section 5.1, each Grantor hereby waives notice of the time and place of any
public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made. To the extent such notice may not be waived under applicable law, any notice made shall be deemed reasonable if sent to the
Grantors, addressed as set forth in Article VIII, at least ten days prior to (i) the date of any such public sale or (ii) the time after which any such private sale or other disposition may be made. To the
maximum extent permitted by applicable law, each Grantor waives all claims, damages, and demands against the Collateral Agent or any Notes Secured Party arising out of the repossession, retention or sale of the Collateral (after the occurrence of
and during the continuance of an Event of Default), except such as arise solely out of the gross negligence or willful misconduct of the Collateral Agent or such Notes Secured Party as finally determined by a court of competent jurisdiction in a
final non-appealable order. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and relinquishes the benefit and advantage of, and covenants not to assert against the Collateral
Agent or any Notes Secured Party, any valuation, stay, appraisal, extension, moratorium, redemption or similar laws and any and all rights or defenses it may have as a surety now or hereafter existing which, but for this provision, might be
applicable to the sale of any Collateral (after the occurrence of and during the continuance of an Event of Default), made under the judgment, order or decree of any court, or privately under the power of sale conferred by this Security Agreement,
or otherwise. Except as otherwise specifically provided herein, each Grantor hereby waives presentment, demand, protest or any notice (to the maximum extent permitted by applicable law) of any kind in connection with this Security Agreement or any
Collateral. 
 Section 7.2 Limitation on Collateral Agent’s and Notes Secured Party’s Duty
with Respect to the Collateral. The Collateral Agent shall have no obligation to clean-up or otherwise prepare the Collateral for sale. The Collateral Agent and each Notes Secured Party shall use
reasonable care with respect to the Collateral in its possession or under its control. Neither the Collateral Agent, nor any Notes Secured Party shall have any other duty as to any Collateral in its possession or control or in the possession or
control of any agent or nominee of the Collateral Agent or such Notes Secured Party, or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. To the extent that applicable law imposes
duties on the Collateral Agent to exercise remedies, after the occurrence and during the continuance of an Event of Default, in a commercially reasonable manner, each Grantor acknowledges and agrees that it would be commercially reasonable for the
Collateral Agent (i) to fail to incur expenses 

  
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deemed significant by the Collateral Agent to prepare Collateral for disposition or otherwise to transform raw material or work in process into finished goods or other finished products for
disposition, (ii) to fail to obtain third party consents for access to Collateral to be disposed of, or to obtain or, if not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of
Collateral to be collected or disposed of, (iii) to fail to exercise collection remedies against Account Debtors or other Persons obligated on Collateral or to remove Liens on or any adverse claims against Collateral, (iv) to exercise
collection remedies against Account Debtors and other Persons obligated on Collateral directly or through the use of collection agencies and other collection specialists, (v) to advertise dispositions of Collateral through publications or media
of general circulation, whether or not the Collateral is of a specialized nature, (vi) to contact other Persons, whether or not in the same business as a Grantor, for expressions of interest in acquiring all or any portion of such Collateral,
(vii) to hire one or more professional auctioneers to assist in the disposition of Collateral, whether or not the Collateral is of a specialized nature, (viii) to dispose of Collateral by utilizing internet sites that provide for the
auction of assets of the types included in the Collateral or that have the reasonable capacity of doing so, or that match buyers and sellers of assets, (ix) to dispose of assets in wholesale rather than retail markets, (x) to disclaim
disposition warranties, such as title, possession or quiet enjoyment, (xi) to purchase insurance or credit enhancements at the Grantors’ cost to insure the Collateral Agent against risks of loss, collection or disposition of Collateral or
to provide to the Collateral Agent a guaranteed return from the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by the Collateral Agent, to obtain the services of other brokers, investment bankers, consultants
and other professionals to assist the Collateral Agent in the collection or disposition of any of the Collateral. Each Grantor acknowledges that the purpose of this Section 7.2 is to provide
non-exhaustive indications of what actions or omissions by the Collateral Agent would be commercially reasonable in the Collateral Agent’s exercise of remedies against the Collateral, after the occurrence
and during the continuance of an Event of Default, and that other actions or omissions by the Collateral Agent shall not be deemed commercially unreasonable solely on account of not being indicated in this Section 7.2. Without limitation upon
the foregoing, nothing contained in this Section 7.2 shall be construed to grant any rights to any Grantor or to impose any duties on the Collateral Agent that would not have been granted or imposed by this Security Agreement or by applicable
law in the absence of this Section 7.2. 
 Section 7.3 Compromises and Collection of Collateral. Each Grantor and the
Collateral Agent recognize that setoffs, counterclaims, defenses and other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and
that the expense and probability of success in litigating a disputed Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable. In view of the foregoing, each Grantor agrees that the Collateral
Agent may at any time and from time to time, subject to the terms of the Intercreditor Agreement, if an Event of Default has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such
amount as the Collateral Agent shall determine or abandon any Receivable, and any such action by the Collateral Agent shall be commercially reasonable so long as the Collateral Agent acts in good faith based on information known to it at the time it
takes any such action. 

  
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 Section 7.4 Notes Secured Party Performance of Debtor Obligations. Without
having any obligation to do so, following the occurrence and during the continuance of an Event of Default, the Collateral Agent may perform or pay any obligation which any Grantor has agreed to perform or pay under this Security Agreement and such
Grantor shall reimburse the Collateral Agent for any amounts paid by the Collateral Agent pursuant to this Section 7.4 in accordance with Section 7.06 of the Indenture. Each Grantor’s obligation to reimburse the Collateral Agent
pursuant to the preceding sentence shall be a Secured Obligation payable in accordance with Section 7.06 of the Indenture. 

Section 7.5 No Waiver; Amendments; Cumulative Remedies. No failure or delay by the Collateral Agent or any Notes Secured Party in
exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or
further exercise thereof or the exercise of any other right or power. The rights and remedies of the Collateral Agent and the Notes Secured Parties hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise
have. No waiver of any provision of this Security Agreement or consent to any departure by any Grantor therefrom shall in any event be effective unless in writing signed by the Collateral Agent with the concurrence or at the direction of the holders
of the Notes to the extent required under Article 9 of the Indenture, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. 

Section 7.6 Limitation by Law; Severability of Provisions. All rights, remedies and powers provided in this Security Agreement may
be exercised only to the extent that the exercise thereof does not violate any applicable provision of law, and all the provisions of this Security Agreement are intended to be subject to all applicable mandatory provisions of law that may be
controlling and to be limited to the extent necessary so that they shall not render this Security Agreement invalid, unenforceable or not entitled to be recorded or registered, in whole or in part. Any provision in this Security Agreement that is
held to be inoperative, unenforceable, or invalid in any jurisdiction shall, as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or
validity of that provision in any other jurisdiction, and to this end the provisions of this Security Agreement are declared to be severable. 

Section 7.7 Reinstatement. This Security Agreement shall remain in full force and effect and continue to be effective should any
petition be filed by or against any Grantor for liquidation or reorganization, should any Grantor become insolvent or make an assignment for the benefit of any creditor or creditors or should a receiver or trustee be appointed for all or any
significant part of such Grantor’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of the Secured Obligations, or any part thereof, is, pursuant to applicable law,
rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Secured Obligations, whether as a “voidable preference,” “fraudulent conveyance,” or otherwise, all as though such payment or
performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Secured Obligations shall be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced,
restored or returned. 

  
 -22- 

 Section 7.8 Benefit of Agreement. The terms and provisions of this Security
Agreement shall be binding upon and inure to the benefit of each Grantor, the Collateral Agent and the Notes Secured Parties and their respective successors and permitted assigns (including all Persons who become bound as a debtor to this Security
Agreement), except that no Grantor shall have the right to assign its rights or delegate its obligations under this Security Agreement or any interest herein, without the prior written consent of the Collateral Agent. No sales of participations,
assignments, transfers, or other dispositions of any agreement governing the Secured Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to the Collateral Agent, for the benefit of the Collateral Agent
and the Notes Secured Parties, hereunder. 
 Section 7.9 Survival of Representations. All representations and warranties of each
Grantor contained in this Security Agreement shall survive the execution and delivery of this Security Agreement. 
 Section 7.10
Expenses. Solely to the extent required by Section 7.06 of the Indenture, each Grantor jointly and severally agrees to promptly reimburse the Collateral Agent for any and all documented out-of-pocket expenses paid or incurred by the Collateral Agent, including documented out-of-pocket legal fees and expenses, in
connection with the preparation, execution, delivery, administration, collection and enforcement of this Security Agreement and in the audit, analysis, administration, collection, preservation or sale of the Collateral. Any and all costs and
expenses incurred by any Grantor in the performance of actions required pursuant to the terms hereof shall be borne solely by such Grantor. 

Section 7.11 Additional Grantors. Pursuant to and in accordance with Section 10.02 of the Indenture, each Grantor shall cause
(i) each Restricted Subsidiary (other than any Excluded Subsidiary) formed or acquired after the date of this Security Agreement in accordance with the terms of the Indenture and (ii) any Restricted Subsidiary that was an Excluded
Subsidiary but has ceased to be an Excluded Subsidiary, to enter into this Security Agreement as a Subsidiary Party within sixty (60) days after such formation, acquisition or designation (or, in each case, such longer period as the Collateral
Agent may agree or the Credit Facility Agent may agree with respect to the Credit Agreement Security Agreement); for avoidance of doubt, the Company may, in its sole discretion, cause any Restricted Subsidiary that is not required to join this
Security Agreement as a Subsidiary Party to execute an instrument in substantially the form of Exhibit A hereto. Upon execution and delivery by the Collateral Agent and such Subsidiary of an instrument in substantially the
form of Exhibit A hereto, such Subsidiary shall become a Subsidiary Party hereunder with the same force and effect as if originally named as a Subsidiary Party herein. The execution and delivery of any such instrument shall
not require the consent of any other Grantor hereunder. The rights and obligations of each Grantor hereunder shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Security Agreement. 

Section 7.12 Termination or Release. 

(a) This Security Agreement shall continue in effect until, and shall terminate on, the Termination Date. 

(b) A Grantor shall automatically be released from its obligations hereunder and the security interests created hereunder shall be released, in
each case, in accordance with the provisions of the Indenture. 

  
 -23- 

 Section 7.13 Entire Agreement. This Security Agreement, together with the other
Secured Credit Documents in respect of the Notes, embodies the entire agreement and understanding between each Grantor and the Collateral Agent relating to the Collateral and supersedes all prior agreements and understandings, oral or written,
between any Grantor and the Collateral Agent relating to the Collateral. 
 Section 7.14 Governing Law; Jurisdiction; Consent
to Service of Process. 
 (a) Governing Law. This Agreement shall be construed in accordance with and governed by the law of the
State of New York without regard to conflicts of law principles. 
 (b) Jurisdiction. Each Grantor and the Collateral Agent hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of any federal or state court located in the borough of Manhattan in the City of New York, and any appellate court from any thereof, in any action or
proceeding arising out of or relating to any Note Document (excluding the enforcement of the Security Documents to the extent such security documents expressly provide otherwise), or for recognition or enforcement of any judgment, and each of such
parties hereto hereby 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 or, to the extent permitted by law, in such federal court. Each of such
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. 

(c) Venue. Each Grantor and each other party to this Agreement hereby irrevocably and unconditionally waives, to the fullest extent it
may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement or any other Note Document in any court referred to in clause
(b) of this Section 7.14. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Service of Process. Each Grantor and each other party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 13.01 of the Indenture. Nothing in this Agreement or any other Note Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 7.15 WAIVER OF JURY TRIAL. EACH GRANTOR AND EACH OTHER PARTY HERETO HEREBY 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 NOTE DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON
CONTRACT, TORT OR ANY OTHER THEORY). EACH GRANTOR AND EACH OTHER PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF
LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THE NOTE DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.15.

  
 -24- 

 Section 7.16 Indemnity. Each Grantor shall indemnify the Trustee, the Collateral
Agent, the other Notes Secured Parties, and each Affiliate, controlling Person, officers, director, employee, partner, trustee, advisor, shareholder, agent and other representative and their successors and permitted assigns 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 reasonable and documented out-of-pocket fees, charges and disbursements of any counsel for any Indemnitee (limited to one counsel to the Indemnitees, taken as a whole, and, if reasonably necessary, one
additional counsel in each jurisdiction in which any collateral is located or any proceedings are held and one specialty counsel, if applicable, and, in the case of an actual or perceived conflict of interest, one additional counsel to each group of
similarly situated Indemnitees, taken as a whole), incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the syndication of the Commitments or the Loans, the execution or delivery of any Note
Document or any other agreement or instrument contemplated hereby, the performance by the parties to the Note Documents of their respective obligations thereunder or the consummation of the Transactions, any other acquisition permitted hereby or any
other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the proceeds therefrom (including any refusal by any issuing bank 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 materials on or from any property currently or formerly owned or operated by the Grantors or
any of their subsidiaries, or any environmental liability related in any way to the Grantors or any of their 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 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 resulted from (i) the gross negligence or willful misconduct of such Indemnitee or (ii) any dispute solely among the Indemnitees (other than the Trustee or the Collateral Agent acting in their capacity as such) and not
arising out of any act or omission of the Grantors, their Subsidiaries or any of their Affiliates or related to the presence or release of hazardous materials or violations of environmental laws that first occur at a property owned or leased by the
Grantors or their Subsidiaries or any of their Affiliates after such property is transferred to an Indemnitee or its successors or assigns by way of a foreclosure, deed–in–lieu of foreclosure or similar transfer. Notwithstanding the
foregoing, each Indemnitee shall be obligated to refund and return any and all amounts paid by Grantors or any of their affiliates under this Section 7.16 to such Indemnitee for any such fees, expenses or damages to the extent such Indemnitee
is not entitled to payment of such amount in accordance with the terms hereof. Each Indemnitee shall promptly notify the Company upon receipt of written notice of any claim or threat to institute a claim; provided that any failure by any Indemnitee
to give such notice shall not relieve the Grantors from the obligation to indemnify such Indemnitee. 
 To the extent permitted by
applicable Law, none of parties hereto (nor any Indemnitee) shall assert, and each hereby waives, any claim against any Loan Party or Indemnitee, as applicable, 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, any Note Document or any agreement or instrument contemplated hereby, the Transactions, any Loan or Letter of Credit or the use of the proceeds thereof,
other than in the case of any such damages incurred or paid by an Indemnitee to a third party. 

  
 -25- 

 Unless otherwise specified, all amounts due under this Section 4.03 shall be payable
not later than thirty (30) days after written demand therefor (or such longer period as the applicable Indemnitee may agree). 

Section 7.17 Counterparts. This Security 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. Delivery of an executed counterpart of a signature page of this Security Agreement by facsimile or other electronic
imaging (including in .pdf format) means shall be effective as delivery of a manually executed counterpart of this Security Agreement and may be used in lieu of original signature pages for all purposes. The words “execution,”
“signed,” “signature,” and words of like import in this Security Agreement 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. 

Section 7.18 Mortgages. In the case of a conflict between this Security Agreement and the Mortgages (if any) with respect to
Collateral that is real property (including Fixtures), the Mortgages shall govern. In all other conflicts between this Security Agreement and the Mortgages, this Security Agreement shall govern. 

Section 7.19 Time to Perform. Any extension of time or waivers as are granted by the Credit Facility Agent under any Secured
Credit Document in respect of the Credit Agreement for the comparable requirement to perform any obligation shall automatically be granted under this Security Agreement and any other Secured Credit Document in respect of the Notes. 

ARTICLE VIII 
 NOTICES

 Section 8.1 Sending Notices. All notices, requests and demands pursuant hereto shall be made in accordance with
Section 13.01 of the Indenture. All communications and notices hereunder to any Grantor shall be given to it in care of the Company at the Company’s address set forth in Section 13.01 of the Indenture. 

Section 8.2 Change in Address for Notices. Each of the Grantors and the Collateral Agent may change the address or facsimile
number for service of notice upon it by a notice in writing to the other parties. 

  
 -26- 

 ARTICLE IX 

THE INTERCREDITOR AGREEMENT GOVERNS 

Each Person that is secured hereunder, by accepting the benefits of the security provided hereby, (i) agrees (or is deemed to agree) that
it will be bound by, and will take no actions contrary to, the provisions of the Intercreditor Agreement, if then in effect, (ii) authorizes (or is deemed to authorize) the Collateral Agent on behalf of such Person to enter into, and perform
under, the Intercreditor Agreement, if then in effect, and (iii) acknowledges (or is deemed to acknowledge) that a copy of the Intercreditor Agreement, if then in effect, was delivered, or made available, to such Person. Notwithstanding any
other provision contained herein, the priority of the Liens created hereby and the exercise of the rights, remedies, duties and obligations provided for herein are subject in all respects to the provisions of the Intercreditor Agreement, if then in
effect, and, to the extent provided therein, the applicable collateral documents referenced therein. 
 Notwithstanding anything contrary
contained herein, in the event of any conflict 
 or inconsistency between this Security Agreement and the Indenture or the Intercreditor

 Agreement with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by
the Collateral Agent, the terms of the Indenture and/or the Intercreditor Agreement shall govern and control (except that, in the case of any conflict between the Indenture and the Intercreditor Agreement, such Intercreditor Agreement shall control
with respect to the priority of any liens or security interests granted hereunder or the exercise of any rights or remedies by the Collateral Agent). 

ARTICLE X 
 CONCERNING
THE COLLATERAL AGENT 
 Deutsche Bank Trust Company Americas, in executing and acting under this Agreement, is acting solely in its capacity as
Collateral Agent under the Indenture, and in acting hereunder, shall be entitled to all of the rights, privileges, protections, indemnities and immunities accorded to the Collateral Agent under the Indenture, as if fully set forth herein. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

  
 -27- 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have executed this Security
Agreement as of the date first above written. 
  

			
	GRANTORS:
	
	COTY INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Senior Vice President, Treasury
	
	CALVIN KLEIN COSMETIC CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	COTY BRANDS MANAGEMENT INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	COTY HOLDINGS INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	COTY US HOLDINGS INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer

			
	COTY US LLC
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	GALLERIA CO.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	GRAHAM WEBB INTERNATIONAL, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	HFC PRESTIGE INTERNATIONAL U.S. LLC
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	HFC PRESTIGE PRODUCTS, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	NOXELL CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer

			
	O P I PRODUCTS, INC.
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer
	
	THE WELLA CORPORATION
		
	By:	 	 /s/ Hemant Gandhi

		 	Name: Hemant Gandhi
		 	Title:   Treasurer

 
			
	COLLATERAL AGENT:
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Agent
		
	By:	 	 /s/ Robert Peschler

		 	Name: Robert Peschler
		 	Title:   Vice President
		
	By:	 	 /s/ Bridgette Casasnovas

		 	Name: Bridgette Casasnovas
		 	Title:   Vice President

 SCHEDULE I 

Pledged Collateral 
 Pledged Collateral
constituting Equity Interests 
  

											
	 Issuer
	  	Record
Owner	  	Certificate No.
(if applicable)	  	Number of
Owned
Equity
Interests	  	Percentage of Issued
and Outstanding
Equity Interests
Owned	 
	 Calvin Klein Cosmetic Corporation
	  	Coty US
Holdings Inc.	  	2	  	1 Common
Share	  	 	100	% 
					
	 Coty Brands Management GmbH
	  	Coty US
 Holdings Inc.
	  	1	  	1	  	 	100	% 
					
	 Coty Brands Management Inc.
	  	Coty US
 Holdings Inc.
	  	N/A	  	100 Common
Shares	  	 	100	% 
					
	 Coty Holdings Inc.
	  	Coty US
 Holdings Inc.
	  	1	  	9,999	  	 	100	% 
					
	 Coty US Holdings Inc.
	  	Galleria Co.	  	N/A	  	100 Common
Shares	  	 	100	% 
					
	 Coty US LLC
	  	Coty Holdings Inc.	  	N/A	  	N/A	  	 	100	% 
					
	 DLI International Holding I LLC
	  	OPI Products, Inc.	  	N/A	  	N/A	  	 	100	% 
					
	 DLI International Holding II Corp.
	  	Coty US LLC	  	3	  	1000 Common
Shares	  	 	100	% 
					
	 Galleria Co.
	  	Coty Inc.	  	1	  	100 Common
Shares	  	 	100	% 
					
	 Graham Webb International, Inc.
	  	The Wella
Corporation	  	1	  	100	  	 	100	% 
					
	 HFC Prestige International Holding Luxembourg Sarl
	  	Galleria Co.	  	N/A	  	130	  	 	100	% 
					
	 HFC Prestige International U.S. LLC
	  	Galleria Co.	  	9	  	459,575	  	 	100	% 
					
	 HFC Prestige Products, Inc.
	  	Galleria Co.	  	1	  	10,000	  	 	100	% 
					
	 Launch Beauty LLC
	  	Coty US
 Holdings Inc.
	  	N/A	  	N/A	  	 	100	% 
					
	 Noxell Corporation
	  	Galleria Co.	  	1	  	1,000	  	 	100	% 

											
	 Issuer
	  	Record
Owner	  	Certificate No.
(if applicable)	  	Number of
Owned
Equity
Interests	  	Percentage of Issued
and Outstanding
Equity Interests
Owned	 
	 O P I Products, Inc.
	  	The Wella
Corporation	  	1	  	100 Common
Shares	  	 	100	% 
					
	 Rimmel Inc.
	  	Coty US LLC	  	4	  	100 Common
Shares	  	 	100	% 
					
	 The Wella Corporation
	  	Coty US
Holdings Inc.	  	1	  	122,700	  	 	100	% 

 Pledged Collateral constituting Promissory Notes, Tangible Chattel Paper and Instruments 

None. 

 EXHIBIT A 

Form of Joinder 

FORM OF JOINDER AGREEMENT 

THIS JOINDER AGREEMENT (this “Agreement”), dated as of ____________, ____, 20__, is entered into between
___________________________, a _______________ (the “New Subsidiary”), and DEUTSCHE BANK TRUST COMPANY AMERICAS, as collateral agent (the “Collateral Agent”) under the Indenture, dated as of April 21, 2021 (the
“Issue Date”), among COTY INC., a Delaware corporation (the “Company”) and DEUTSCHE BANK TRUST COMPANY AMERICAS, as trustee and collateral agent thereunder (as amended, restated, amended and restated, refinanced,
replaced, extended, supplemented and/or otherwise modified from time to time, the “Indenture”). All capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Security Agreement (as defined
below). 
 The New Subsidiary and the Collateral Agent, for the benefit of the Notes Secured Parties, hereby agree as follows: 

1. The New Subsidiary hereby acknowledges, agrees and confirms that, by its execution of this Agreement, the New Subsidiary will be a
Subsidiary Party under the Pledge and Security Agreement, dated as of the Issue Date, among the Company and certain Subsidiaries of the Company from time to time party thereto, in favor of the Collateral Agent for the benefit of the Notes Secured
Parties (as amended, restated, amended and restated, replaced, supplemented and/or otherwise modified from time to time the “Security Agreement”) for all purposes of the Security Agreement and shall have all of the obligations of a
Subsidiary Party thereunder as if it had executed the Security Agreement, including without limitation the grant pursuant to Article II of the Security Agreement of a security interest to the Collateral Agent for the
benefit of the Notes Secured Parties in the property and property rights constituting Collateral (as defined in Article II of the Security Agreement) of such Subsidiary Party, whether now owned or existing or hereafter
created, acquired or arising and wherever located, as security for the payment and performance of the Secured Obligations, all with the same force and effect as if the New Subsidiary were a signatory to the Security Agreement. In furtherance of the
foregoing, as collateral security for the payment in full when due (whether at stated maturity, by acceleration or otherwise) and performance of the Secured Obligations, the New Subsidiary hereby pledges and grants to the Collateral Agent, for the
benefit of the Notes Secured Parties, a security interest in all of the New Subsidiary’s right, title and interest in, to and under the Collateral. The New Subsidiary authorizes the Collateral Agent, without obligation, to file UCC financing
statements and any related continuation statements describing the Collateral as “all assets, whether now owned or hereafter acquired” or “all personal property and fixtures” of the New Subsidiary or using words of similar effect.

 2. The New Subsidiary hereby agrees that each reference in the Security Agreement to a Subsidiary Party shall also mean and be a
reference to the New Subsidiary. 

 3. Attached to this Agreement are a duly completed Schedule I to
the Security Agreement, updated Schedules to the Perfection Certificate, and, if applicable, Intellectual Property Security Agreements in substantially the form of Exhibit B to the Security Agreement, in each case,
with respect to the New Subsidiary (collectively, the “Supplemental Schedules”). The New Subsidiary represents and warrants that the information contained on each of the Supplemental Schedules with respect to such New Subsidiary and
its properties and affairs is true, complete and accurate in all material respects as of the date hereof. 
 4. The New Subsidiary hereby
waives acceptance by the Collateral Agent and the Notes Secured Parties of this Agreement and acknowledges that the Secured Obligations are and shall be deemed to be incurred in reliance on this Agreement and the New Subsidiary’s joinder as a
party to the Security Agreement as herein provided. 
 5. This Agreement may be executed in any number of 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. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or
other electronic imaging (including in .pdf format) means shall be effective as delivery of a manually executed counterpart of this Agreement and may be used in lieu of original signature pages for all purposes. The words “execution,”
“signed,” “signature,” and words of like import in this Agreement 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. 

6. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

[THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

 IN WITNESS WHEREOF, the New Subsidiary has caused this Agreement to be duly executed by its
authorized officer, and the Collateral Agent, for the benefit of the Notes Secured Parties, has caused the same to be accepted by its authorized officer, as of the day and year first above written. 

 

			
	[NEW SUBSIDIARY]
		
	        By:	 	
                     
                

		 	Name:
		 	Title:
	
	Acknowledged and accepted:
	
	DEUTSCHE BANK TRUST COMPANY AMERICAS, as Collateral Agent
		
	        By:	 	      

		 	Name:
		 	Title:
		
	        By:	 	      

		 	Name:
		 	Title:

 SCHEDULE I 

Pledged Collateral 
 Pledged Collateral
constituting Equity Interests 
  

									
	 Issuer
	 	 Record

Owner/Grantor
	 	 Certificate

No. (if applicable)
	  	 Number of

Shares/Interest

Owned
	  	 Percentage of

Ownership

Pledged

 Pledged
Collateral constituting Promissory Notes, Tangible Chattel Paper and Instruments 
  

									
	 Grantor
	 	 Issuer
	 	 Initial Principal

Amount
	  	 Date of

Issuance
	  	 Maturity Date

 Schedules to Perfection Certificate 

[See attached.] 

 Intellectual Property Security Agreement(s) 

[See attached.] 

 EXHIBIT B 

Form of Intellectual Property Security Agreement 

FORM OF INTELLECTUAL PROPERTY SECURITY AGREEMENT 

This INTELLECTUAL PROPERTY SECURITY AGREEMENT (as amended, amended and restated, supplemented or otherwise modified from time to time, the
“IP Security Agreement”) dated [______], 20__, is among the Persons listed on the signature pages hereof (collectively, the “Grantors”) and Deutsche Bank Trust Company Americas, as collateral agent (the
“Collateral Agent”) for the Notes Secured Parties (as defined in the Indenture referred to below). 
 WHEREAS, Coty Inc., a
Delaware corporation, has entered into the Indenture dated as of April 21, 2021, with Deutsche Bank Trust Company Americas, as trustee and collateral agent (as amended, amended and restated, supplemented or otherwise modified from time to time,
the “Indenture”). Terms defined in the Indenture or in that certain Pledge and Security Agreement dated as of the Issue Date, among the Grantors and the Collateral Agent (as amended, restated, amended and restated, replaced,
supplemented and/or otherwise modified from time to time the “Security Agreement”) and not otherwise defined herein are used herein as defined in the Indenture or the Security Agreement, as the case may be (and in the event a term
is defined differently in the Indenture and the Security Agreement, the applicable definition shall be the one given to such term in the Security Agreement). 

WHEREAS, under the terms of the Security Agreement, the Grantors have granted to the Collateral Agent, for the benefit of the Notes Secured
Parties, a security interest in, among other property, certain Intellectual Property of the Grantors, and have agreed thereunder to execute this IP Security Agreement for recording with the United States Patent and Trademark Office, the United
States Copyright Office and any other appropriate domestic governmental authorities, as applicable. 
 NOW, THEREFORE, for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, each Grantor agrees as follows: 
 SECTION 1. Grant of
Security. To secure the prompt and complete payment and performance of all Secured Obligations, each Grantor hereby pledges, assigns and grants to the Collateral Agent, on behalf of and for the benefit of the Notes Secured Parties, a security
interest in all of such Grantor’s right, title and interest in and to all Intellectual Property to the extent governed by, arising under, pursuant to, or by virtue of, the laws of the United States of America or any state thereof, including the
following (the “Collateral”): 
 (i) (a) any and all patents and patent applications (whether issued or
applied-for in the United States); (b) all inventions and improvements described and claimed therein; (c) all reissues, divisions, continuations, renewals, extensions, and continuations-in-part thereof; (d) all income, royalties, damages, claims, and payments now or hereafter due or payable under and with respect thereto, including, without
limitation, damages and payments for past and future infringements thereof; and (e) all rights to sue for past, present, and future infringements thereof (“Patents”); 

 (ii) (a) all trademarks (including service marks), trade names, trade
dress, and trade styles, whether registered or unregistered in the United States, and the registrations and applications for registration thereof and the goodwill of the business symbolized by the foregoing; (b) all renewals of the foregoing;
(c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments for past and future infringements thereof; and (d) all rights to sue for
past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing (“Trademarks”); and 

(iii) (a) all copyrights, rights and interests in such copyrights, works protectable by copyright, copyright
registrations, and applications to register copyright; (b) all renewals of any of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without
limitation, damages or payments for past or future infringements for any of the foregoing; and (d) the right to sue for past, present, and future infringements of any of the foregoing (“Copyrights”); 

(iv) all registrations and applications for registration for any of the foregoing in the United States Patent and Trademark
Office or the United States Copyright Office, as applicable, including, without limitation, the registrations and applications for registration of United States intellectual property set forth in Schedule I hereto (as may be supplemented from
time to time), together with all reissues, divisions, continuations, continuations-in-part, extensions, renewals and reexaminations thereof; 

provided that notwithstanding anything to the contrary contained in the foregoing clauses (i) through (iv), the security interest
created hereby shall not extend to, and the term “Collateral” shall not include, any Excluded Assets, including, but not limited to, any intent-to-use
trademark applications prior to the filing, and acceptance by the United States Patent and Trademark Office, of a “Statement of Use” or “Amendment to Allege Use” with respect thereto, if any, to the extent that, and solely during
the period in which, the grant of a security interest therein prior to such filing and acceptance would impair the validity or enforceability of such intent-to-use
trademark applications or the resulting trademark registrations under applicable federal law. 
 SECTION 2. Security for Obligations.
The grant of a security interest in the Collateral by each Grantor under this IP Security Agreement secures the payment of all Secured Obligations of such Grantor now or hereafter existing, whether direct or indirect, absolute or contingent, and
whether for principal, reimbursement obligations, interest, premiums, penalties, fees, indemnifications, contract causes of action, costs, expenses or otherwise. 

 SECTION 3. Recordation. Each Grantor authorizes and requests that the Register of
Copyrights, the Commissioner for Patents and the Commissioner for Trademarks and any other applicable government officer record this IP Security Agreement. 

SECTION 4. Counterparts. This IP Security 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 taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page to this Agreement by facsimile or other electronic imaging
(including in .pdf or format) means shall be effective as delivery of a manually executed counterpart of this Agreement and may be used in lieu of original signature pages for all purposes. The words “execution,” “signed,”
“signature,” and words of like import in this Agreement 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. 
 SECTION 5.
Grants, Rights and Remedies. This IP Security Agreement has been entered into in conjunction with the provisions of the Security Agreement. Each Grantor does hereby acknowledge and confirm that the grant of the security interest hereunder to,
and the rights and remedies of, the Collateral Agent with respect to the Collateral are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated herein by reference as if fully set forth herein. In the event
of any conflict between the terms of this IP Security Agreement and the terms of the Security Agreement, the terms of the Security Agreement shall govern. 

SECTION 6. Intercreditor Agreement Governs. Notwithstanding anything contrary contained herein, in the event of any conflict or
inconsistency between this IP Security Agreement and the Indenture or the Intercreditor Agreement, the terms of the Indenture and/or the Intercreditor Agreement shall govern and control (except that, in the case of any conflict between the Indenture
and the Intercreditor Agreement, such Intercreditor Agreement with respect to the applicable Collateral shall control). 
 SECTION 7.
Governing Law; Jurisdiction; Etc. (a) This IP Security Agreement shall be construed in accordance with and governed by the law of the State of New York without regard to conflicts of law principles. 

(b) Each Grantor and each other party to this IP Security Agreement hereby irrevocably and unconditionally submits, for itself and its
property, to the exclusive jurisdiction of any federal or state court located in the borough of Manhattan in the City of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to any Note Document
(excluding the enforcement of the Security Documents to the extent such security documents expressly provide otherwise), or for recognition or enforcement of any judgment, and each of such parties hereto hereby 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 or, to the extent permitted by law, in such federal court. Each of such 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. 

 (c) Each Grantor and each other party to this IP Security Agreement hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this IP Security Agreement or
any other Note Document in any court referred to in clause (b) of this Section 6. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such
action or proceeding in any such court. 
 (d) Each Grantor and each other party to this IP Security Agreement hereto irrevocably consents to
service of process in the manner provided for notices in Section 13.01 of the Indenture. Nothing in this IP Security Agreement or any other Note Document will affect the right of any party to this IP Security Agreement to serve process in any
other manner permitted by law. 
 (e) EACH GRANTOR AND EACH OTHER PARTY TO THIS IP SECURITY AGREEMENT HEREBY EXPRESSLY 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 IP SECURITY AGREEMENT OR, ANY OTHER NOTE 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 PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN
THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THE NOTE DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION 6(e). 

 IN WITNESS WHEREOF, each Grantor and the Collateral Agent have caused this IP
Security Agreement to be duly executed and delivered by its officer thereunto duly authorized as of the date first written above. 
  

			
	[NAMES OF ENTITIES OWNING IP]
		
	By:	 	
                     
                        

		 	Name:
		 	Title:

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:
		
	By:	 	
                     
                                         
   

		 	Name:
		 	Title:

 Schedule I

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