Document:

Security Agreement dated as of March 26, 2009

 Exhibit 10.12 
  
  
 SECURITY AGREEMENT 
 dated as of March 26, 2009 
 among 
 SBARRO, INC., 
 as Borrower, 
 SBARRO HOLDINGS, LLC, 
 as Holdings, 
 THE OTHER LOAN PARTIES FROM TIME TO TIME PARTY HERETO, 

 and 
 NATIXIS, NEW
YORK BRANCH, 
 as Collateral Agent 
  
  

 TABLE OF CONTENTS1 
  

					
	ARTICLE I
	DEFINITIONS
			
	Section 1.01	 	Terms Defined in the Credit Agreement	  	1
	Section 1.02	 	Terms Defined in the UCC	  	1
	Section 1.03	 	Additional Definitions	  	2
	Section 1.04	 	Terms Generally	  	9
	
	ARTICLE II
	THE SECURITY INTERESTS
			
	Section 2.01	 	Grant of Security Interests	  	10
	Section 2.02	 	Collateral	  	10
	Section 2.03	 	Continuing Liability of Each Loan Party	  	11
	Section 2.04	 	Security Interests Absolute	  	12
	Section 2.05	 	Continuing Liabilities Under Collateral	  	13
	Section 2.06	 	Reserved	  	14
	Section 2.07	 	Reserved	  	14
	Section 2.08	 	Reserved	  	14
	Section 2.09	 	Reserved	  	14
	Section 2.10	 	Investment of Funds in Collateral Accounts	  	14
	
	ARTICLE III
	REPRESENTATIONS AND WARRANTIES
			
	Section 3.01	 	Title to Collateral	  	14
	Section 3.02	 	Validity, Perfection and Priority of Security Interests	  	15
	Section 3.03	 	Reserved	  	16
	Section 3.04	 	No Consents	  	16
	Section 3.05	 	Deposit and Securities Accounts	  	16
	
	ARTICLE IV
	COVENANTS
			
	Section 4.01	 	Certain Consents and Authorizations; Account Control Agreements	  	16
	Section 4.02	 	Change of Name, Organizational Structure or Location; Subjection to Other Security Agreements	  	16
	Section 4.03	 	Further Actions	  	17

  

	1	The Table of Contents is not a part of the Security Agreement. 

  

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	Section 4.04	 	Collateral in Possession of Other Persons	  	17
	Section 4.05	 	Reserved	  	18
	Section 4.06	 	Delivery of Instruments, Etc.	  	18
	Section 4.07	 	Notification to Account Debtors	  	18
	Section 4.08	 	Disposition of Collateral	  	19
	Section 4.09	 	Insurance	  	19
	Section 4.10	 	Reserved	  	19
	Section 4.11	 	Covenants Regarding Intellectual Property	  	19
	Section 4.12	 	Deposit Accounts and Securities Accounts	  	22
	Section 4.13	 	Electronic Chattel Paper	  	22
	Section 4.14	 	Claims	  	22
	Section 4.15	 	Letter-of-Credit Rights	  	22
	
	ARTICLE V
	GENERAL AUTHORITY; REMEDIES
			
	Section 5.01	 	General Authority	  	23
	Section 5.02	 	Authority of the Collateral Agent	  	23
	Section 5.03	 	Remedies upon Event of Default	  	24
	Section 5.04	 	Limitation on Duty of the Collateral Agent in Respect of Collateral	  	27
	Section 5.05	 	Application of Proceeds	  	28
	
	ARTICLE VI
	COLLATERAL AGENT
			
	Section 6.01	 	Concerning the Collateral Agent	  	29
	Section 6.02	 	Appointment of Co-Collateral Agent	  	29
	
	ARTICLE VII
	MISCELLANEOUS
			
	Section 7.01	 	Notices	  	30
	Section 7.02	 	No Waivers; Non-Exclusive Remedies	  	30
	Section 7.03	 	Compensation and Expenses of the Collateral Agent; Indemnification	  	31
	Section 7.04	 	Enforcement	  	31
	Section 7.05	 	Amendments and Waivers	  	31
	Section 7.06	 	Successors and Assigns	  	32
	Section 7.07	 	Governing Law	  	32
	Section 7.08	 	Limitation of Law; Severability	  	32
	Section 7.09	 	Counterparts; Effectiveness	  	33
	Section 7.10	 	Additional Loan Parties	  	33
	Section 7.11	 	Termination and Release	  	33
	Section 7.12	 	Entire Agreement	  	34
	Section 7.13	 	No Conflict	  	34
	Section 7.14	 	Intercreditor Agreement	  	34

  

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 Schedules: 
  

					
	 Schedule 1.03(a)
	 	-	    	Claims
	 Schedule 3.05
	 	-	    	Deposit Accounts and Securities Accounts
	 Schedule 4.01
	 	-	    	Filings to Perfect Security Interests

 Exhibits: 
  

					
	 Exhibit A
	 	-	    	Form of Grant of Security Interest in Patents and Trademarks
	 Exhibit B
	 	-	    	Form of Grant of Security Interest in Copyrights
	 Exhibit C
	 	-	    	Form of Deposit Account Control Agreement
	 Exhibit D
	 	-	    	Form of Consent to Assignment of Letter of Credit Proceeds
	 Exhibit E
	 	-	    	Form of Description of Collateral

  

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 SECURITY AGREEMENT dated as of March 26, 2009 (as amended, restated, modified
or supplemented from time to time, this “Agreement”) among SBARRO HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), SBARRO, INC., a New York corporation (the “Borrower”), the other
LOAN PARTIES from time to time party hereto, NATIXIS, NEW YORK BRANCH, as collateral agent for the Credit Parties (as defined herein) (in such capacity, together with its successors, the “Collateral Agent”). 
 Holdings and the Borrower propose to enter into the Second Lien Credit Agreement dated as of March 26, 2009 (as amended, restated, modified,
supplemented, restructured or refinanced from time to time, the “Credit Agreement”) among Holdings, the Borrower, the banks and other lending institutions from time to time party thereto (each a “Lender” and,
collectively, the “Lenders”), Natixis, New York Branch, as administrative agent and collateral agent (together with its successor or successors in each such capacity, the “Administrative Agent” and the
“Collateral Agent”). 
 The Lender, the Administrative Agent, the Collateral Agent and their respective successors and
assigns are herein referred to individually as a “Credit Party” and collectively as the “Credit Parties”. 
 To induce the Credit Parties to enter into the Credit Agreement and the other Loan Documents referred to therein (collectively with the Credit Agreement, the “Loan Documents”), and as a condition precedent to the
obligations of the Credit Parties under the Credit Agreement, Holdings and certain Subsidiaries of Holdings (each a “Subsidiary Guarantor” and, collectively, the “Subsidiary Guarantors”) and, together with Holdings,
each other Person that becomes a guarantor and the respective successors and permitted assigns of each of the foregoing, the “Guarantors” and together with the Borrower, each a “Loan Party” and, collectively the
“Loan Parties”, have agreed, jointly and severally, to provide a guaranty of all obligations of the Borrower and the other Loan Parties under or in respect of the Loan Documents. 
 As a further condition precedent to the obligations of the Lenders under the Loan Documents, each Loan Party has agreed or will agree to grant a
continuing security interest in favor of the Collateral Agent in and to the Collateral to secure the Credit Obligations. Accordingly, in consideration of the foregoing, the mutual covenants and obligations herein set forth and for other good and
valuable consideration, the sufficiency and receipt of which are hereby acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 Section 1.01 Terms Defined in the Credit Agreement. Terms defined in the Credit Agreement have the respective meanings set forth
therein, unless otherwise defined in this Article I. 
 Section 1.02 Terms Defined in the UCC. Unless otherwise
defined herein or in the Credit Agreement or the context otherwise requires, the following terms, together with any 

 
uncapitalized terms used herein which are defined in the UCC, have the respective meanings provided in the UCC: (i) As-Extracted Collateral;
(ii) Certificated Security; (iii) Chattel Paper; (iv) Documents; (v) Electronic Chattel Paper; (vi) Financial Asset; (vii) Instruments; (viii) Inventory; (ix) Investment Property; (x) Payment Intangibles;
(xi) Proceeds; (xii) Securities Account; (xiii) Securities Intermediary; (xiv) Security; (xv) Security Certificate; (xvi) Security Entitlements; and (xvii) Uncertificated Security. 
 Section 1.03 Additional Definitions. Terms defined in the introductory section hereof have the respective meanings set forth therein.
The following additional terms, as used herein, have the following respective meanings: 
 “Account Control Agreement” means
(i) with respect to a Deposit Account, a deposit account control agreement, substantially in the form of Exhibit C hereto or otherwise containing reasonably acceptable terms and in form and substance reasonably acceptable to the
Collateral Agent, among one or more Loan Parties, the Collateral Agent and the bank which maintains such Deposit Account (execution of such agreement shall be conclusive evidence of such approval) and (ii) with respect to a Securities Account,
a securities account control agreement, substantially in the form of Exhibit B to the Pledge Agreement or otherwise containing reasonably acceptable terms and in form and substance reasonably acceptable to the Collateral Agent (which approval shall
be deemed given by execution of such agreement), among one or more Loan Parties, the Collateral Agent and the Securities Intermediary which maintains such Securities Account, in each case as the same may be amended, modified or supplemented from
time to time. 
 “Account Debtor” means an “account debtor” (as defined in the UCC), and also means and includes
Persons obligated to pay negotiable instruments and other Receivables. 
 “Accounts” means (i) all “accounts”
(as defined in the UCC), (ii) all of the rights of any Loan Party in, to and under all purchase orders for goods, services or other property, (iii) all of the rights of any Loan Party to any goods, services or other property represented by
any of the foregoing (including returned or repossessed goods and unpaid seller’s rights of rescission, replevin, reclamation and rights to stoppage in transit) and (iv) all monies due to or to become due to any Loan Party under any and
all contracts for any of the foregoing (in each case, whether or not yet earned by performance on the part of such Loan Party), including, without limitation, the right to receive the Proceeds of said purchase orders and contracts, and all
Supporting Obligations of any kind given by any Person with respect to all or any of the foregoing. 
 “Bankruptcy Code”
means title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter in effect, or any successor statute. 
 “Bankruptcy Law” means the Bankruptcy Code and all other liquidation, receivership, moratorium, conservatorship, assignment for the benefit of creditors, insolvency or similar federal, state or foreign law for the relief of
debtors. 
 “Claims” means all “commercial tort claims” (as defined in the UCC), including, without limitation,
each of the claims described on Schedule 1.03 hereto, as such Schedule may be amended, modified or supplemented from time to time, and also means and includes all 

  

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claims, causes of action and similar rights and interests (however characterized) of a Loan Party, whether arising in contract, tort or otherwise, and
whether or not subject to any action, suit, investigation or legal, equitable, arbitration or administrative proceedings. 
 “Collateral” has the meaning set forth in Section 2.02 of this Agreement. 
 “Collateral
Accounts” means any Securities Accounts or Deposit Accounts established with or in the possession or under the control of the Collateral Agent into which cash or cash Proceeds of any Collateral are deposited from time to time, collectively.

 “Collateral Agent” means Natixis, New York Branch, in its capacity as collateral agent for the Credit Parties, and its
successor or successors in such capacity. 
 “Computer Hardware” means all computer and other electronic data processing
hardware of a Loan Party, whether now or hereafter owned, licensed or leased by such Loan Party, including, without limitation, all integrated computer systems, central processing units, memory units, display terminals, printers, features, computer
elements, card readers, tape drives, hard and soft disk drives, cables, electrical supply hardware, generators, power equalizers, accessories, peripheral devices and other related computer hardware, all documentation, flowcharts, logic diagrams,
manuals, specifications, training materials, charts and pseudo codes associated with any of the foregoing and all options, warranties, services contracts, program services, test rights, maintenance rights, support rights, renewal rights and
indemnifications relating to any of the foregoing. 
 “Contracts” shall mean, collectively, with respect to each Loan Party,
the Loan Documents, all sale, service, performance, equipment or property lease contracts, agreements and grants and all other contracts, agreements or grants (in each case, whether written or oral, or third party or intercompany), between such Loan
Party and any third party, and all assignments, amendments, restatements, supplements, extensions, renewals, replacements or modifications thereof. 
 “Copyright” shall mean for any Loan Party, all United States and foreign copyrights (including community designs), including but not limited to copyrights in software and databases, and all Mask Works (as defined under 17
U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, and, with respect to any and all of the foregoing: (i) all registrations and applications therefor including, without limitation, the registrations and applications
referred to in Schedule 12 to any Loan party’s Perfection Certificate (as such schedule may be amended, modified or supplemented from time to time by such Loan Party), (ii) all extensions and renewals thereof, (iii) all rights
and privileges corresponding thereto throughout the world, (iv) all rights to sue for past, present and future infringements thereof, and (v) all Proceeds of the foregoing, including, without limitation, licenses, royalties, income,
payments, claims, damages and proceeds of suit. 
 “Copyright Agreement” means a grant of Security Interest in United States
Copyrights, substantially in the form of Exhibit B to this Agreement, between one or more Loan Parties and the Collateral Agent, as the same may be amended, modified or supplemented from time to time. 
  

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 “Copyright License” means any agreement now or hereafter in existence granting to any
Loan Party any rights, whether exclusive or non-exclusive, to use another Person’s works protected by their copyrights or copyright applications, or pursuant to which any Loan Party has granted to any other Person, any right, whether exclusive
or non-exclusive, with respect to any Copyright, whether or not registered, including, without limitation, the Copyright Licenses described on Schedule 12 to any Loan Party’s Perfection Certificate (as each such schedule may be amended,
modified or supplemented from time to time by such Loan Party). 
 “Credit Obligations” means “Second Lien Credit
Obligations” as such term is defined in the Credit Agreement. 
 “Deposit Accounts” means all “deposit
accounts” (as defined in the UCC) and also means and includes all demand, time, savings, passbook or similar accounts maintained by a Loan Party with a bank or other financial institution, whether or not evidenced by an Instrument, all cash and
other funds held therein and all passbooks related thereto and all certificates and Instruments, if any, from time to time representing, evidencing or deposited into such deposit accounts. 
 “Direct Exposure” has the meaning set forth in Section 2.08 of this Agreement. 
 “Domestic Subsidiary” means with respect to any Person each Subsidiary of such Person that is organized under the laws of the United
States, the District of Columbia or any State, and “Domestic Subsidiaries” means any two or more of them. 
 “Equipment” means all “equipment” (as defined in the UCC), including all items of machinery, equipment, Computer Hardware, furnishings and fixtures of every kind, whether or not affixed to real property, as well
as all motor vehicles, automobiles, trucks, trailers, railcars, barges and vehicles of every description, handling and delivery equipment, all additions to, substitutions for, replacements of or accessions to any of the foregoing, all attachments,
components, parts (including spare parts) and accessories whether installed thereon or affixed thereto and all fuel for any thereof and all options, warranties, service contracts, program services, test rights, maintenance rights, support rights,
improvement rights and indemnification relating to any of the foregoing. 
 “Event of Default” means one or more Events of
Default, as such term is defined in the Credit Agreement. 
 “Excepted Instruments” has the meaning specified in
Section 4.06. 
 “Excluded Contract” means at any date any rights or interest of a Loan Party in, to or under
any agreement, contract, license, instrument, document, healthcare insurance receivable or other general intangible (referred to solely for purposes of this definition as a “Contract”) to the extent that such Contract by the express
terms of a valid and enforceable restriction in favor of a Person who is not a Group Company, (i) prohibits, or requires any consent or establishes any other condition for, an assignment thereof or a grant of a security interest therein by a
Loan Party, or (ii) provides that a grant of a security interest therein by a Loan Party would result in a forfeiture of such Loan Parties’ rights thereunder, would give any party to such Contract other than a Group Company a right to
terminate its obligations thereunder, or is permitted only with 

  

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the consent of another Person, if the requirement to obtain such consent is legally enforceable and such consent has not been obtained; provided that
(i) rights to payment under any such Contract otherwise constituting an Excluded Contract by virtue of this definition shall be included in the Collateral to the extent permitted thereby or by Section 9-406, Section 9-407,
Section 9-408 or Section 9-409 of the UCC, and (ii) all Proceeds paid or payable to any Loan Party from any sale, transfer or assignment of such Contract and all rights to receive such Proceeds shall be included in the Collateral.

 “Excluded Equipment” means at any date any Equipment of a Loan Party which is subject to, or secured by, a Capital Lease
Obligation or Purchase Money Indebtedness which is permitted under Section 7.01 of the Credit Agreement if and to the extent that (i) the express terms of a valid and enforceable restriction in favor of a Person who is not a Group
Company contained in the agreements or documents granting or governing such Capital Lease Obligation or Purchase Money Indebtedness prohibit, or require any consent or establish any other conditions for, an assignment thereof, or a grant of a
security interest therein, by a Loan Party or provide that a grant of a security interest therein by a Loan Party would result in a forfeiture of such Loan Parties’ rights thereunder and (ii) such restriction relates only to the asset or
assets acquired by a Loan Party with the Proceeds of such Capital Lease Obligation or Purchase Money Indebtedness or the asset or assets acquired by such Loan Party with the proceeds of another Capital Lease Obligation or Purchase Money Indebtedness
provided by the same Person; provided that all Proceeds paid or payable to any Loan Party from any sale, transfer or assignment or other voluntary or involuntary disposition of such Equipment and all rights to receive such Proceeds shall be
included in the Collateral to the extent not otherwise required to be paid to the holder of the Capital Lease Obligation or Purchase Money Indebtedness secured by such Equipment. 
 “Exempt Deposit Accounts” has the meaning set forth in the Credit Agreement. 
 “First Lien Finance Party” means “Finance Party” as defined in the First Lien Security Agreement. 
 “First Lien Security Agreement” means the Security Agreement, dated as of January 31, 2007, among Holdings, the Borrower, the loan
parties from time to time party thereto, and the First Lien Collateral Agent. 
 “Foreign Subsidiary” means with respect to
any Person, any Subsidiary of such Person that is not a Domestic Subsidiary of such Person. 
 “General Intangibles” means
all “general intangibles” (as defined in the UCC) and also means and includes (i) all Payment Intangibles and other obligations and indebtedness owing to any Loan Party (other than Accounts), from whatever source arising,
(ii) all Claims, Judgments and/or Settlements, (iii) all rights or claims in respect of refunds for taxes paid, (iv) all rights in respect of any pension plans or similar arrangements maintained for employees of any Loan Party or any
ERISA Affiliate, (v) all interests in limited liability companies and/or partnerships which interests do not constitute Securities, (vi) all Supporting Obligations of any kind given by any Person with respect to all or any of the
foregoing, (vii) all of such Loan Party’s rights, title and interest in, to and under all Contracts and insurance policies (including all rights and remedies relating to monetary damages, including indemnification rights and remedies,

  

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and claims for damages or other relief pursuant to or in respect of any Contract and (viii) all licenses, consents, permits, variances, certifications,
authorizations and approvals, however characterized, now or hereafter acquired or held by such Loan Party, including building permits, certificates of occupancy, environmental certificates, industrial permits or licenses and certificates of
operation. 
 “Intellectual Property” means all Patents, Trademarks, Copyrights, Licenses, rights in intellectual property,
goodwill, trade names, service marks, trade secrets, inventions, methods, procedures, formulae, recipes, confidential or proprietary technical and business information, know-how, trademark rights arising out of domain names, mask works, customer
lists, vendor lists, subscription lists, databases and related documentation, registrations, franchises and all other intellectual or other similar property rights. 
 “Insolvency or Liquidation Proceeding” means (i) any voluntary or involuntary case or proceeding under the Bankruptcy Code or any other Bankruptcy Law with respect to any Loan Party,
(ii) any other voluntary or involuntary insolvency, reorganization or bankruptcy case or proceeding, or any receivership, liquidation, reorganization or other similar case or proceeding with respect to any Loan Party or with respect to a
material portion of their respective assets, (iii) any liquidation, dissolution, reorganization or winding up of any Loan Party whether voluntary or involuntary and whether or not involving insolvency or bankruptcy or (iv) any assignment
for the benefit of creditors or any other marshalling of assets and liabilities of any Loan Party. 
 “Judgments” means all
judgments, decrees, verdicts, decisions or orders issued in resolution of or otherwise in connection with a Claim, whether or not final or subject to appeal, and including all rights of enforcement relating thereto and any and all Proceeds thereof.

 “Letter-of-Credit Right” means all “letter-of-credit rights” (as defined in the UCC) and also means and
includes all rights of a Loan Party to demand payment or performance under a letter of credit (as defined in Article V of the UCC). 
 “License” means any Patent License, Trademark License, Copyright License, Software License or other license or sublicense as to which any Loan Party is a party (other than those license agreements constituting Excluded
Contracts; provided that rights to payments under any such license shall be included in the Collateral to the extent permitted thereby or by Sections 9-406 and 9-408 of the UCC). 
 “Liquid Investments” has the meaning set forth in Section 2.10 of this Agreement. 
 “Loan Party” means Holdings, the Borrower, and each Guarantor, and “Loan Parties” means all of them, collectively.

 “Patent” means any of the following, whether now existing or hereafter arising, invented, developed, reduced to practice,
acquired or owned by a Loan Party: 
 (i) the United States and foreign patents described on Schedule XII to any Loan Party’s
Perfection Certificate (as each such schedule may be amended, modified or supplemented from time to time by such Loan Party) and any renewals thereof; 
  

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 (ii) all reissues, reexaminations, divisions, continuations, continuations, revisions, restorations,
renewals or extensions thereof; 
 (iii) all claims for, and rights to sue for, past, present or future infringement of any of the foregoing;

 (iv) all income, royalties, damages and payments now or hereafter due or payable with respect to any of the foregoing, including damages
and payments for past, present or future infringements thereof and payments and damages under all Patent Licenses in connection therewith; and 
 (v) all rights corresponding to any of the foregoing whether arising under the Laws of the United States or any foreign country or otherwise. 
 “Patent and Trademark Agreement” means a grant of Security Interest in United States Patents and Trademarks, substantially in the form of Exhibit A to this Agreement, between one or more Loan
Parties and the Collateral Agent, as the same may be amended, modified or supplemented from time to time. 
 “Patent
License” means any agreement now or hereafter in existence granting to any Loan Party any right, whether exclusive or non-exclusive, with respect to any Person’s patent or any invention now or hereafter in existence, whether or not
patentable, or pursuant to which any Loan Party has granted to any other Person any right, whether exclusive or non-exclusive, with respect to any Patent or any invention now or hereafter in existence, whether or not patentable and whether or not a
Patent or application for Patent is in or hereafter comes into existence on such invention, including, without limitation, the Patent Licenses described on Schedule 12 to any Loan Party’s Perfection Certificate (as each such schedule may
be amended, modified or supplemented from time to time by such Loan Party). 
 “Perfection Certificate” means with respect
to each Loan Party a certificate, substantially in the form of Exhibit F-3 to the Credit Agreement, completed and supplemented with the schedules and attachments contemplated thereby to the reasonable satisfaction of the Collateral Agent.

 “Permitted Lien” means any Lien referred to in, and permitted by, Section 7.02 of the Credit Agreement.

 “Receivables” means all Accounts, all Payment Intangibles, all Instruments, all Chattel Paper, all Electronic Chattel
Paper, all Letter-of-Credit Rights and all Supporting Obligations supporting or otherwise relating to any of the foregoing. 
 “Recordable Intellectual Property” means Intellectual Property the transfer of which is required to be recorded in the United States Patent and Trademark Office or the United States Copyright Office in order to be effective
against subsequent third party transferees; provided that the following shall not be considered “Recordable Intellectual Property” hereunder: (i) unregistered United States Copyrights and (ii) non-exclusive Licenses.

 “Reinvestment Funds” shall have the meaning specified in the Credit Agreement. 
  

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 “Relevant Contingent Exposure” has the meaning set forth in Section 2.08 of
this Agreement. 
 “Requisite Priority Lien” means a valid and perfected security interest in favor of the Collateral Agent
for the benefit of the Credit Parties and securing the Credit Obligations. 
 “Security Interest” means the security
interest granted pursuant to Section 2.01 hereof in favor of the Collateral Agent for the benefit of the Credit Parties securing the Credit Obligations. 
 “Settlements” means all right, title and interest of a Loan Party in, to and under any settlement agreement or other agreement executed in settlement or compromise of any Claim, including all rights
to enforce such agreements and all payments thereunder or arising in connection therewith. 
 “Software” means all
“software” (as defined in the UCC), and also means and includes all software programs, whether now or hereafter owned, licensed or leased by a Loan Party, designed for use on Computer Hardware, including all operating system software,
utilities and application programs in whatever form and whether or not embedded in goods, all source code and object code in magnetic tape, disk or hard copy format or any other listings whatsoever, all firmware associated with any of the foregoing
all documentation, flowcharts, logic diagrams, manuals, specifications, training materials, charts and pseudo codes associated with any of the foregoing, and all options, warranties, services contracts, program services, test rights, maintenance
rights, support rights, renewal rights and indemnifications relating to any of the foregoing. 
 “Software License” means
any agreement (whether such agreement is also a Copyright License, Patent License and/or Trademark License) now or hereafter in existence granting to any Loan Party any right, whether exclusive or non-exclusive, to use another Person’s
Software, or pursuant to which any Loan Party has granted to any other Person any right, whether exclusive or non-exclusive, to use any Software, whether or not subject to any registration. 
 “Supporting Obligation” means a Letter-of-Credit Right, Guaranty Obligation or other secondary obligation supporting or any Lien
securing the payment or performance of one or more Receivables, General Intangibles, Documents or Investment Property. 
 “Trademark” means any of the following, whether now existing or hereafter arising used, acquired or owned by a Loan Party: 
 (i) the United States and foreign trademarks described on Schedule 12 to any Loan Party’s Perfection Certificate (as each such schedule may be amended, modified or supplemented from time to time) and any renewals thereof;

 (ii) all other trademarks, trade names, corporate names, company names, business names, fictitious business names, trade styles, service
marks, logos, certification marks, collective marks, brand names, slogans, trademark rights arising out of domain names and trade dress (whether statutory or common law) which are or have been used in the United States, any state, province,
territory or possession thereof, or in any other place, nation or jurisdiction, along with 

  

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all prints and labels on which any of the foregoing have appeared or appear, package and other designs, and any other source or business identifiers, and
general intangibles of like nature, and the rights in any of the foregoing which arise under applicable Law; 
 (iii) the goodwill of the
business symbolized thereby or associated with each of the foregoing; 
 (iv) all registrations and applications in connection therewith,
including registrations and applications in the United States Patent and Trademark Office or in any similar office or agency of the United States, any state thereof or any other country or any political subdivision thereof; 
 (v) all reissues, extensions and renewals thereof; 
 (vi) all claims for, and rights to sue for, past, present or future infringements of any of the foregoing; 
 (vii) all income,
royalties, damages and payments now or hereafter due or payable with respect to any of the foregoing, including damages and payments for past, present or future infringements thereof and payments and damages under all Trademark Licenses in
connection therewith; and 
 (viii) all rights corresponding to any of the foregoing whether arising under the Laws of the United States or
any foreign country or otherwise. 
 “Trademark License” means any agreement now or hereafter in existence granting to any
Loan Party any right, whether exclusive or non-exclusive, to use another Person’s trademarks or trademark applications, or pursuant to which any Loan Party has granted to any other Person any right, whether exclusive or non-exclusive, to use
any Trademark, whether or not registered, including, without limitation, the Trademark Licenses described on Schedule 12 to any Loan Party’s Perfection Certificate (as each such schedule may be amended, modified or supplemented from time
to time by such Loan Party) and the rights to prepare for sale, sell and advertise for sale all of the inventory now or hereafter owned by any Loan Party and now or hereafter covered by such license agreements. 
 “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York; provided that if by reason of
mandatory provisions of Law, the perfection, the effect of perfection or non-perfection or the priority of the Security Interests in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York,
“UCC” means the Uniform Commercial Code as in effect in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 
 Section 1.04 Terms Generally. The definitions in Sections 1.02 and 1.03 shall apply equally to both the singular and
plural forms of the terms defined, except for terms defined in both the singular and the plural form. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” 

  

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and “including” shall be deemed to be followed by the phrase “without limitation”. All references herein to Articles, Sections, Exhibits
and Schedules shall be deemed references to Articles and Sections of, and Exhibits and Schedules to, this Agreement unless the context shall otherwise require. Unless otherwise expressly provided herein, the word “day” means a calendar
day. 
 ARTICLE II 
 THE
SECURITY INTERESTS 
 Section 2.01 Grant of Security Interests. To secure the due and punctual payment of the Credit
Obligations, howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, now or hereafter existing or due or to become due, in accordance with the terms thereof and to secure the performance of all of the obligations
of each Loan Party hereunder and under the other Loan Documents in respect of the Credit Obligations of each Loan Party, each Loan Party hereby grants to the Collateral Agent for the benefit of the Credit Parties a security interest in, and each
Loan Party hereby pledges and collaterally assigns to the Collateral Agent for the benefit of the Credit Parties, all of such Loan Party’s right, title and interest in, to and under the Collateral. 
 Section 2.02 Collateral. 
 (a) All right, title and interest of each Loan Party in, to and under the following property, whether now owned or existing or hereafter created or acquired by a Loan Party, whether tangible or intangible, and regardless of where located,
are herein collectively referred to as the “Collateral”: 
 (i) all Receivables; 
 (ii) all Inventory; 
 (iii) all General Intangibles; 
 (iv) all Intellectual Property; 
 (v) all Documents and all Supporting Obligations of any kind given by any Person with respect thereto; 
 (vi) all Equipment; 
 (vii) all Investment Property and all Supporting Obligations of any kind given by any Person with respect thereto; 
 (viii) all Deposit Accounts; 
 (ix) all As-Extracted Collateral; 
 (x) the Collateral Accounts, all cash and other property deposited therein or credited thereto from time to time, the Liquid Investments
made pursuant to 

  

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Section 2.09 and other monies and property of any kind of any Loan Party maintained with or in the possession of or under the control of the
First Lien Collateral Agent or the Collateral Agent, as applicable, subject to the terms of the Intercreditor Agreement; 
 (xi) all books and records (including customer lists, credit files, computer programs, printouts and other computer materials and records) of each Loan Party pertaining to any of the Collateral; and 
 (xii) to the extent not otherwise included, all Proceeds of all or any of the Collateral described in clauses (i) through
(x) hereof; 
 provided, however, that Collateral shall not include: (s) shares of capital stock or other equity interests of
Subsidiaries of a Foreign Subsidiary or capital stock or other equity interests in excess of 65% of all classes of capital stock or other equity interests issued by a first tier Foreign Subsidiary of any Loan Party; (t) any intent-to-use (ITU)
United States trademark application for which an amendment to allege use or statement of use has not been filed under 15 U.S.C. § 1051(c) or 15 U.S.C. § 1051(d), respectively, or, if filed, has not been deemed in conformance with
15 U.S.C. § 1051(a) or (c) in each case, only to the extent the grant of security interest in such intent-to-use Trademark is in violation of 15 U.S.C. § 1060 and only unless and until a “Statement of Use” or
“Amendment to Allege Use” is filed, has been deemed in conformance with 15 U.S.C. § 1051(a) and (c) or examined and accepted, respectively, by the United States Patent and Trademark Office; (u) any Equity Interest in a
non-Wholly-Owned Subsidiary existing on the date hereof or formed after the Closing Date, in each case to the extent the grant of a security interest therein is prohibited by the governing organizational documents of such non-Wholly Owned
Subsidiary; (v) Excluded Contracts; (w) government licenses and permits to the extent that applicable Law prohibits the grant of a security interest in such license or permit; (x) Excluded Equipment; (y) Exempt Deposit Accounts
or (z) any Equity Interest in a Permitted Joint Venture, to the extent the applicable joint venture agreement or governing documents of such joint venture prohibits the grant of a Security Interest in such Equity Interest or if such grant would
cause a default under such joint venture agreement or would result in a forfeiture of any Loan Party’s rights thereunder. 
 (b) Subject
to the terms of the Intercreditor Agreement, notwithstanding anything herein to the contrary, the foregoing Section 2.02(a) shall not require the creation or perfection of pledges of or security interests in particular assets if and for
so long as, in the reasonable judgment of the Administrative Agent (confirmed in writing by notice to the Borrower), the cost or effort of creating or perfecting such pledges or security interests in such assets shall be excessive in view of the
benefits to be obtained by the Credit Parties therefrom. Subject to the terms of the Intercreditor Agreement, the Administrative Agent may grant extensions of time for the perfection of security interests in particular assets (including extensions
beyond the Closing Date for the perfection of security interests in the assets of any Loan Party on such date) where it reasonably determines, in consultation with the Borrower, that perfection cannot be accomplished without undue effort or expense
by the time or times at which it would otherwise be required by this Agreement or the other Loan Documents. 
 Section 2.03
Continuing Liability of Each Loan Party. Notwithstanding anything herein to the contrary, nothing contained herein shall affect the liability of each Loan Party 

  

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to observe and perform all the terms and conditions to be observed and performed by it under any contract, agreement, warranty or other obligation with
respect to the Collateral (except following any change in owner or control of any Loan Party resulting from the exercise by the Collateral Agent of its rights hereunder). Neither the Collateral Agent nor any Credit Party shall have any obligation or
liability under any such contract, agreement, warranty or obligation by reason of or arising out of this Agreement or the receipt by the Collateral Agent or any Credit Party of any payment relating to any Collateral, nor shall the Collateral Agent
or any Credit Party be required to perform or fulfill any of the obligations of any Loan Party with respect to any of the Collateral, to make any inquiry as to the nature or sufficiency of any payment received by it or the sufficiency of the
performance of any party’s obligations with respect to any Collateral. Furthermore, neither the Collateral Agent nor any Credit Party shall be required to file any claim or demand to collect any amount due or to enforce the performance of any
party’s obligations with respect to the Collateral. 
 Section 2.04 Security Interests Absolute. All rights of the
Collateral Agent, all security interests hereunder and all obligations of each Loan Party hereunder are unconditional and absolute and independent and separate from any other security for or guaranty of the Credit Obligations, whether executed by
such Loan Party, any other Loan Party or any other Person. Without limiting the generality of the foregoing, the obligations of each Loan Party hereunder shall not be released, discharged or otherwise affected or impaired by: 
 (i) any extension, renewal, settlement, compromise, acceleration, waiver or release in respect of any obligation of any other Loan Party
under any Loan Document or any other agreement or instrument evidencing or securing any Credit Obligation, by operation of Law or otherwise; 
 (ii) any change in the manner, place, time or terms of payment of any Credit Obligation or any other amendment, supplement or modification to any Loan Document or any other agreement or instrument evidencing or
securing any Credit Obligation; 
 (iii) any release, non-perfection or invalidity of any direct or indirect security for any
Credit Obligation, any sale, exchange, surrender, realization upon, offset against or other action in respect of any direct or indirect security for any Credit Obligation or any release of any other obligor or Loan Parties in respect of any Credit
Obligation; 
 (iv) any change in the existence, structure or ownership of any Loan Party, or any insolvency, bankruptcy,
reorganization, arrangement, readjustment, composition, liquidation or other similar proceeding affecting any Loan Party or its assets or any resulting disallowance, release or discharge of all or any portion of any Credit Obligation; 
 (v) the existence of any claim, set-off or other right which any Loan Party may have at any time against the Borrower, any other Loan
Party, any Agent, any other Credit Party, or any other Person, whether in connection herewith or any unrelated transaction; provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory
counterclaim; 
  

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 (vi) any invalidity or unenforceability relating to or against the Borrower or any other
Loan Party for any reason of any Loan Document or any other agreement or instrument evidencing or securing any Credit Obligation or any provision of applicable Law or regulation purporting to prohibit the payment by the Borrower or any other Loan
Party of any Credit Obligation; 
 (vii) any failure by any Credit Party: (A) to file or enforce a claim against any Loan
Party or its estate in an Insolvency or Liquidation Proceeding; (B) to give notice of the existence, creation or incurrence by any Loan Party of any new or additional indebtedness or obligation under or with respect to the Credit Obligations;
(C) to commence any action against any Loan Party; (D) to disclose to any Loan Party any facts which such Credit Party may now or hereafter know with regard to any Loan Party; or (E) to proceed with due diligence in the collection,
protection or realization upon any collateral securing the Credit Obligations; 
 (viii) any direction as to application of
payment by the Borrower, any other Loan Party or any other Person; 
 (ix) any subordination by any Credit Party of the
payment of any Credit Obligation to the payment of any other liability (whether matured or unmatured) of any Loan Party to its creditors; 
 (x) any act or failure to act by the Collateral Agent or any other Credit Party under this Agreement or otherwise which may deprive any Loan Party of any right to subrogation, contribution or reimbursement against any
other Loan Party or any right to recover full indemnity for any payments made by such Loan Party in respect of the Credit Obligations; or 
 (xi) any other act or omission to act or delay of any kind by any Loan Party or any Credit Party or any other Person or any other circumstance whatsoever which might, but for the provisions of this clause, constitute
a legal or equitable discharge of any Loan Party’s obligations hereunder, except that a Loan Party may assert the defense of final payment full of the Credit Obligations. 
 Each Loan Party has irrevocably and unconditionally delivered this Agreement to the Collateral Agent, for the benefit of the Credit Parties, and the
failure by any other Person to sign this Agreement or a security agreement similar to this Agreement or otherwise shall not discharge the obligations of any Loan Party hereunder. 
 This Agreement shall remain fully enforceable against each Loan Party irrespective of any defenses that any other Loan Party may have or assert in
respect of the Credit Obligations, including, without limitation, failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury, except that a Loan Party may assert the defense of
final payment in full of the Credit Obligations. 
 Section 2.05 Continuing Liabilities Under Collateral. Notwithstanding
anything herein to the contrary, (i) nothing contained herein shall affect the liability of each Loan Party for all obligations under the Collateral and nothing contained herein is intended or shall be 

  

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a delegation of duties to the Collateral Agent respective of any Credit Party, (ii) each Loan Party shall remain liable under each of the agreements
included in the Collateral, to perform all of the obligations undertaken by it thereunder all in accordance with and pursuant to the terms and provisions thereof (except following any change in owner or control of any Loan Party resulting from the
exercise by the Collateral Agent of its rights hereunder) and neither the Collateral Agent nor any Credit Party shall have any obligation or liability under any of such agreements by reason of or arising out of this Agreement or any other document
related thereto nor shall the Collateral Agent nor any Credit Party have any obligation to make any inquiry as to the nature or sufficiency of any payment received by it or have any obligation to take any action to collect or enforce any rights
under any agreement included in the Collateral and (iii) the exercise by the Collateral Agent of any of its rights hereunder shall not release any Loan Party from any of its duties or obligations under the contracts and agreements included in
the Collateral. 
 Section 2.06 Reserved. 
 Section 2.07 Reserved. 
 Section 2.08 Reserved. 
 Section 2.09 Reserved. 
 Section 2.10 Investment of Funds in Collateral Accounts. Amounts on deposit in the Collateral Accounts shall be invested and re-invested from time to time in such Liquid Investments as the Borrower shall determine, which
Liquid Investments shall be held in the name and be under the control of the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement; provided that, if an Event of
Default has occurred and is continuing, the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement, may liquidate or cause the liquidation of any such Liquid Investments and
apply or cause to be applied the proceeds thereof in the manner specified in Section 5.05 of the First Lien Security Agreement or Section 5.05, as applicable. For this purpose, “Liquid Investments” means Cash
Equivalents maturing within 30 days after a Cash Equivalent is acquired by or on behalf of the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agrrement. 
 ARTICLE III 
 REPRESENTATIONS AND
WARRANTIES 
 Each Loan Party represents and warrants that: 
 Section 3.01 Title to Collateral. Other than financing statements or other similar or equivalent documents or instruments with respect to the Security Interests and Permitted Liens, no authorized
financing statement, mortgage, security agreement or similar or equivalent document or instrument covering all or any part of the Collateral is on file or of record in any jurisdiction in which such filing or recording is effective to perfect a Lien
on such Collateral. No Collateral having a value individually or collectively in excess of $1,000,000 (other than Inventory in transit, Inventory in the possession of a carrier, warehouseman, or similar bailee or equipment absent for repair or
replacement) is in the possession or control of any Person (other 

  

 -14- 

 
than a Loan Party or its employees or a Person with a Permitted Lien that is prior to that of the Administrative Agent) asserting any claim thereto or
security interest therein, except that the Collateral Agent (on behalf of itself and the Credit Parties) or their respective designees, may have possession and/or control of Collateral as contemplated hereby and by the other Loan Documents.

 Section 3.02 Validity, Perfection and Priority of Security Interests. 
 (a) The Security Interest constitutes a valid security interest under the UCC securing the Credit Obligations. 
 (b) When Uniform Commercial Code financing statements stating that the same covers “all assets of the Debtor”, “all personal property of
the Debtor” or words of similar import or containing the description of Collateral set forth on Exhibit E hereto shall have been timely and properly filed in the offices specified in Schedule 4.01 hereto, the Security Interests
will constitute a Requisite Priority Lien in all right, title and interest of such Loan Party in the Collateral to the extent that a security interest therein may be perfected by filing pursuant to the UCC, prior to all other Liens and right of
others therein except for Permitted Liens. 
 (c) When each Patent and Trademark Agreement has been timely and properly filed with the United
States Patent and Trademark Office and each Copyright Agreement has been filed with the United States Copyright Office, the Security Interest will constitute a Requisite Priority Lien in all right, title and interest of such Loan Party in the
Recordable Intellectual Property therein described to the extent that a security interest therein may be perfected by such filing pursuant to applicable Law, prior to all other Liens and right of others therein except for Permitted Liens.

 (d) When each Account Control Agreement has been executed and delivered to the First Lien Collateral Agent or the Collateral Agent, as
applicable, in accordance with the terms of the Intercreditor Agreement, the Security Interest will constitute a Requisite Priority Lien in all right, title and interest of the Loan Parties in the Deposit Accounts and Securities Accounts, as
applicable, subject thereto, prior to all other Liens other than Permitted Liens and rights of others therein and subject to no adverse claims except for Permitted Liens. 
 (e) When each consent substantially in the form of Exhibit D hereto has been executed and delivered to the Collateral Agent, the Security Interest will constitute a Requisite Priority Lien in all right, title
and interest of such Loan Party in the Letter-of-Credit Rights referred to therein, prior to all other Liens other than Permitted Liens and rights of others therein. 
 (f) So long as such Loan Party is in compliance with the provisions of Section 4.13, the Security Interest will constitute a Requisite Priority Lien in all right, title and interest of such Loan Party in
all Electronic Chattel Paper, prior to all other Liens other than Permitted Liens and rights of others therein. 
 The Security Interest
created hereunder in favor of the Collateral Agent for the benefit of the Credit Parties is prior to all other Liens on the Collateral except for Permitted Liens having priority over the Collateral Agent’s Lien by operation of Law or otherwise
as permitted under the Credit Agreement. 
  

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 Section 3.03 Reserved. 
 Section 3.04 No Consents. No consent (other than consents previously obtained) of any other Person (including, without limitation, any
stockholder or creditor of such Loan Party or any of its Subsidiaries) and no order, material consent, approval, license, authorization or validation of, or filing, recording or registration with, or exemption by any Governmental Authority is
required to be obtained by such Loan Party in connection with the execution, delivery or performance of this Agreement, or in connection with the exercise of the rights and remedies of the Collateral Agent pursuant to this Agreement, except
(i) as may be required to perfect (as described in Schedule 4.01 hereto) and maintain the perfection of the security interests created hereby, (ii) with respect to vehicles represented by a certificate of title, (iii) with
respect to Receivables subject to the Federal Assignment of Claims Act or any similar state or local law, (iv) such consent, order, approval, license, authorization, validation, filing, recordation, registration or exemption obtained on or
prior to the Closing Date, (v) in connection with the disposition of the Collateral by Laws affecting the offering and sale of securities generally or as described in Schedule 5.03 to the Credit Agreement, or (vi) under any Law
(including the UCC) with respect to the exercise of remedies; provided, however, that (i) the registration of Copyrights in the United States Copyright Office may be required to obtain a security interest therein that is effective
against subsequent transferees under United States Federal copyright Law and (ii) to the extent that recordation of the Security Interest in favor of the Collateral Agent in the United States Patent and Trademark Office or the United States
Copyright Office is necessary to perfect such Security Interest or to render such Security Interest effective against subsequent third parties, such recordations will not have been made with respect to the items that are not Recordable Intellectual
Property. 
 Section 3.05 Deposit and Securities Accounts. Schedule 3.05 hereto sets forth as of the date hereof a
complete and correct list of each Loan Party’s Deposit Accounts and Securities Accounts, the name and address of the financial institution which maintains each such account and the purpose for which such account is used. 
 ARTICLE IV 
 COVENANTS

 Each Loan Party covenants and agrees that until the Discharge of the Second Lien Credit Obligations (other than contingent
indemnification obligations), such Loan Party will comply with the following: 
 Section 4.01 Certain Consents and Authorizations;
Account Control Agreements. On or prior to the Closing Date, the Loan Parties shall authorize all filings and recordings specified in Schedule 4.01 hereto to be completed. 
 Section 4.02 Change of Name, Organizational Structure or Location; Subjection to Other Security Agreements. Such Loan Party will not
change its name, organizational structure or location (determined as provided in Section 9-307 of the UCC) in any manner, in each case, unless it shall have given the Collateral Agent not less than 10 days prior notice thereof; provided,
if notice is given less than ten (10) days prior thereto, it shall not be a breach hereof as long as the attachment and priority of the Security Interest granted hereby are not adversely 

  

 -16- 

 
affected solely as a result of such later notice. Such Loan Party shall not in any event change the location of any Collateral or its name, organizational
structure or location (determined as provided in Section 9-307 of the UCC), or become bound, as provided in Section 9-203(d) of the UCC, by a security agreement entered into by another Person (except in connection with any Permitted Lien
or as otherwise permitted under the Credit Agreement), if such change would cause the Security Interest in favor of the Collateral Agent in any Collateral to lapse or cease to be perfected unless such Loan Party has taken on or before the date of
lapse all actions necessary to ensure that such Security Interest in the Collateral does not lapse or cease to be perfected. 
 Section 4.03 Further Actions. Such Loan Party will, from time to time at its expense and in such manner and form as the Collateral Agent may reasonably request, execute, deliver, file and record or authorize the recording
of any financing statement, specific assignment, instrument, document, agreement or other paper and take any other reasonable action (including, without limitation, any filings of financing or continuation statements under the Uniform Commercial
Code and any filings with the United States Patent and Trademark Office and the United States Copyright Office) that from time to time may be necessary under the UCC or with respect to Recordable Intellectual Property, or that the Collateral Agent
may reasonably request, in order to create, preserve, perfect or maintain the Security Interest or to enable the Collateral Agent and the Credit Parties to exercise and enforce any of its rights, powers and remedies created hereunder or under
applicable Law with respect to any of the Collateral subject in all cases to specific limitations contained in any Loan Document. Such Loan Party shall maintain the Security Interests as a Requisite Priority Lien (subject to Permitted Liens) and
shall defend such security interests and such priority against the claims and demands of all Persons to the extent materially adverse to such Loan Party’s ownership rights or otherwise inconsistent with this Agreement or the other Loan
Documents. To the extent permitted by applicable Law, such Loan Party hereby authorizes the Collateral Agent to execute and file, in the name of such Loan Party or otherwise and without separate authorization or authentication of such Loan Party
appearing thereon, such Uniform Commercial Code financing statements or continuation statements as the Collateral Agent in its sole discretion may deem necessary or reasonably appropriate to further perfect or maintain the perfection of the Security
Interest in favor of the Collateral Agent. Such Loan Party hereby authorizes the Collateral Agent to file financing and continuation statements describing as the Collateral covered thereby “all assets now owned or hereafter acquired by Debtor
or in which Debtor otherwise has rights and all proceeds thereof” or words to similar effect, notwithstanding that such description may be broader in scope than the Collateral described in this Agreement. Such Loan Party agrees that, except to
the extent that any filing office requires otherwise, a carbon, photographic, photostatic or other reproduction of this Agreement or of a financing statement is sufficient as a financing statement. The Loan Parties shall pay the costs of, or
incidental to, any recording or filing of any financing or continuation statements or other assignment documents concerning the Collateral. 
 Section 4.04 Collateral in Possession of Other Persons. Upon the occurrence of and during an Event of Default and the receipt of written notice from the Collateral Agent, if any of such Loan Party’s Collateral having
a value individually or collectively in excess of $1,000,000 (other than Inventory in transit, Inventory in the possession of a carrier or similar bailee and equipment absent for repair or replacement) is at any time in the possession or control of
any warehouseman, vendor, bailee or any agents or processors of any Loan Party, such Loan 
  

 -17- 

 
Party shall (i) notify such warehouseman, vendor, bailee, agent or processor of the Security Interest created hereby, (ii) instruct such
warehouseman, vendor, bailee, agent or processor to hold all such Collateral for the First Lien Collateral Agent’s account or the Collateral Agent’s account, as applicable, in accordance with the terms of the Intercreditor Agreement and
subject to the First Lien Collateral Agent’s instructions, or the Collateral Agent’s instructions, as applicable (iii) use commercially reasonable efforts (without incurring material obligations or foregoing material rights) to cause
such warehouseman, vendor, bailee, agent or processor to authenticate a record acknowledging that it holds possession of such Collateral for the benefit of the First Lien Collateral Agent or the Collateral Agent, as applicable, subject to the terms
of the Intercreditor Agreement and (iv) make such authenticated record available to the Collateral Agent. Such Loan Party agrees that if any warehouse receipt or receipt in the nature of a warehouse receipt is issued with respect to any of its
Inventory, such Loan Party shall use commercially reasonable efforts to cause such warehouse receipt or receipt in the nature thereof not to be “negotiable” (as such term is used in Section 7-104 of the Uniform Commercial Code as in
effect in any relevant jurisdiction or under other relevant Law). 
 Section 4.05 Reserved. 
 Section 4.06 Delivery of Instruments, Etc. Such Loan Party will promptly deliver each Instrument and each Certificated Security
included as Collateral (other than (i) promissory notes having individually a face value not in excess of $1,000,000, (ii) Cash Equivalents held in an Exempt Deposit Account or Deposit Account or a Securities Account and subject to an
effective Account Control Agreement as required by Section 4.12 hereof and (iii) Instruments or Certificated Securities received in connection with bankruptcy or reorganization of suppliers and customers and in settlement of
delinquent obligations of, and other disputes with, customers and suppliers in the ordinary course of business having individually a face value not in excess of $1,000,000 in the case of Instruments or Certificated Securities subject to this
clause (iii) (the Instruments and Certificated Securities described in clauses (i), (ii) and (iii) above constituting “Excepted Instruments”)) to the First Lien Collateral Agent or the
Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement, appropriately indorsed to the First Lien Collateral Agent or the Collateral Agent, as applicable; provided that so long as no Event of Default shall
have occurred and be continuing, and except as required by any other Loan Document, such Loan Party may (unless otherwise provided in Section 2.05(b)) retain for collection in the ordinary course of business any checks, drafts and other
Instruments received by it in the ordinary course of business and may retain any Collateral which it is otherwise entitled to receive and retain pursuant to Section 5.01 of the Pledge Agreement, and, to the extent in the possession of
the Collateral Agent, the Collateral Agent shall promptly upon request of such Loan Party, make appropriate arrangements for making any other Instrument or Certificated Security pledged by such Loan Party available to it for purposes of
presentation, collection or renewal (any such arrangement to be effected, to the extent deemed appropriate to the Collateral Agent, against trust receipt or like document). 
 Section 4.07 Notification to Account Debtors. Upon the occurrence and during the continuance of any Event of Default and if so
requested by the Collateral Agent, such Loan Party will promptly notify (and such Loan Party hereby authorizes the Collateral Agent so to notify after the occurrence and during the continuance of any Event of Default under
Section 8.01(a) or 8.01(f) of the Credit Agreement or any other Event of Default which has resulted in 

  

 -18- 

 
the Administrative Agent or the Collateral Agent exercising any of its rights under Section 8.02 of the Credit Agreement) each Account Debtor in
respect of any Receivable that such Collateral has been assigned to the First Lien Collateral Agent for the benefit of the First Lien Finance Parties or the Collateral Agent for the benefit of the Credit Parties, as applicable, in accordance with
the terms of the Intercreditor Agreement, and that any payments due or to become due in respect of such Collateral are to be made directly to the First Lien Collateral Agent or any other designee on its behalf or the Collateral Agent, as applicable,
in accordance with the terms of the Intercreditor Agreement. 
 Section 4.08 Disposition of Collateral. Such Loan Party
will not sell, lease, exchange, license, assign or otherwise dispose of, or grant any option with respect to, any Collateral or create or suffer to exist any Lien (other than the Security Interest and other Permitted Liens) on any Collateral except
as permitted under this Agreement, the Credit Agreement or any other Loan Document, whereupon, in the case of any such sale, lease, exchange, license, assignment or disposition, the Security Interest created hereby in such Collateral (but not in any
Proceeds arising from such sale, lease, exchange, license, assignment or disposition) shall automatically terminate and cease immediately without any further action on the part of the Collateral Agent, and the Collateral Agent, upon the request of
any Loan Party and at the Loan Parties’ expense, execute and deliver any documentation reasonably necessary to evidence such termination. 
 Section 4.09 Insurance. The Borrower shall use commercially reasonable efforts so that each insurance policy provides for coverage to the Collateral Agent for the benefit of the Credit Parties regardless of the breach by
such Loan Party of any warranty or representation made therein, not be subject to co-insurance, and provides that no cancellation, termination or material modification thereof (other than to increase coverage) shall be effective until at least 30
days (10 days if the Company has defaulted in making payment to such insurance provider) after receipt by the Collateral Agent of notice thereof; except as otherwise agreed by the Administrative Agent. Such Loan Party hereby appoints the Collateral
Agent as its attorney-in-fact, effective during the continuance of an Event of Default, to make proof of loss, claims for insurance and adjustments with insurers, and to execute or endorse all documents, checks or drafts in connection with payments
made as a result of any insurance policies. 
 Such Loan Party assumes all liability and responsibility in connection with the Collateral
acquired by it and the liability of such Loan Party to pay the Credit Obligations shall in no way be affected or diminished by reason of the fact that such Collateral may be lost, destroyed, stolen, damaged or for any reason whatsoever unavailable
to such Loan Party. 
 Section 4.10 Reserved 
 Section 4.11 Covenants Regarding Intellectual Property. Except where the failure to take the actions described in subparagraphs (a),
(b), (c), (d), (e), (f), (h) and (i) below would not reasonably be expected to have a Material Adverse Effect: 
 (a) Such Loan Party (either itself or through licensees) will, for each Patent take commercially reasonable actions that it determines are necessary in accordance with the exercise of its business discretion to, not do any act, or knowingly
omit to do any act, 

  

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whereby any Patent may become invalidated or dedicated to the public (except where the Loan Party has determined in its reasonable business judgment that
such Patent is no longer reasonably necessary to the business of the Group Company), and shall take commercially reasonable actions that it determines are necessary in accordance with the exercise of its business discretion to continue to mark any
products covered by a Patent with the relevant patent number or indication that a Patent is pending as required by the patent Laws. 
 (b) Such Loan Party (either itself or, if permitted by Law, through its licensees or its sublicensees) will, for each Trademark take commercially reasonable actions that it determines are necessary in accordance with the exercise of its
business discretion to, (i) maintain such Trademark in full force free from any claim of abandonment or invalidity from non-use, material alteration, naked licensing or genericide except where the Loan Party has determined in its reasonable
business judgment that such Trademark is no longer reasonably necessary to the business of the Group Company, (ii) maintain the quality of products and services offered under such Trademark in a manner substantially consistent with or better
than the quality of such products and services as of the date hereof, (iii) display such Trademark with proper notice, including notice of federal registration to the extent permitted by applicable Law, (iv) not knowingly use or knowingly
permit the use of such Trademark in violation of any third party rights, (v) not permit any assignment in gross of such Trademark and (vi) allow the Collateral Agent and its designees to inspect such Loan Party’s premises and to
examine and observe such Loan Party’s books, records and operations regarding ownership, licensing and income from such Trademarks in accordance with Section 6.10 of the Credit Agreement. 
 (c) Such Loan Party (either itself or through licensees) will take commercially reasonable actions that it determines are necessary in
accordance with the exercise of its business discretion for each work covered by a Copyright material to the conduct of its business, continue to publish, reproduce, display, adopt and distribute the work with appropriate copyright notice.

 (d) Reserved. 
 (e) Such Loan Party will take commercially reasonable actions that it determines are necessary in accordance with the exercise of its business discretion to file, maintain and pursue each material application relating
to the Patents, Trademarks and/or Copyrights (and to obtain the relevant grant or registration) and to preserve and maintain all common Law rights in any Trademarks and each registration of the Patents, Trademarks and Copyrights in each instance
which are material to the conduct of its business, including filing and paying fees for applications for renewal, reissues, divisions, continuations, continuations-in-part, affidavits of use, affidavits of incontestability and maintenance, and,
unless such Loan Party shall determine in accordance with the exercise of its business discretion that any such action would be commercially unreasonable, to initiate opposition, interference, reexamination and cancellation proceedings against third
parties. 
 (f) Reserved. 
  

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 (g) Within the time period specified in Section 6.02(g) and 6.12(a) of
the Credit Agreement, each Loan Party will (i) inform the Collateral Agent of all applications for Patents, Trademarks or Copyrights filed, acquired or registrations issued during such fiscal quarter by such Loan Party or by any agent,
employee, licensee or delegate on its behalf with the United States Patent and Trademark Office or the United States Copyright Office or any office or agency in any political subdivision of the United States or in any other country or any political
subdivision thereof and (ii) upon request of the Collateral Agent, execute any and all agreements, instruments, documents and papers as the Collateral Agent may request to evidence the Security Interests in such application, any resulting
Patent, Trademark or Copyright and the goodwill or accounts and general intangibles of such Loan Party relating thereto or represented thereby, and such Loan Party hereby appoints the Collateral Agent its attorney-in-fact to execute and file such
writings for the foregoing purposes. 
 (h) Upon and during the continuance of an Event of Default and upon receipt of written
notice from the Collateral Agent, as to all material Licenses (excluding non-exclusive Licenses of Software) entered into after the date hereof which are not Excluded Contracts with any third party licensor, such Loan Party will use commercially
reasonable and good faith efforts to obtain all requisite consents or approvals by the licensor to effect the assignment of all of such Loan Party’s right, title and interest thereunder to the First Lien Collateral Agent or its designee, or the
Collateral Agent, or its designee, as applicable, in accordance with the terms of the Intercreditor Agreement,j and to effect the sub-license contemplated under Section 5.03(e), and such Loan Party shall provide prompt written notice to
the Collateral Agent upon failure to obtain any such consent or approval. 
 (i) Such Loan Party shall take all actions (and
cause all other Persons, including licensees, to the extent such other Persons are subject to its control) which are necessary to protect, preserve and maintain the validity, priority, perfection or enforcement of the rights granted to the
Collateral Agent under this Agreement and give the Collateral Agent notice in accordance with Section 6.02(d) of the Credit Agreement, such Loan Party shall obtain rights to any Trademarks, Patents or Copyrights (subject to the time
periods specified in Section 4.11(g), as applicable), or enter into any new license agreements regarding any of the foregoing, and such Loan Party hereby agrees that the provisions of this Agreement shall automatically apply thereto
except were prohibited thereby pursuant to a valid and enforceable restriction or Law. Such Loan Party will use commercially reasonable efforts determined in accordance with its business discretion so as not to permit the inclusion in any contract
or agreement governing or relating to any Trademarks, Patents or Copyrights obtained after the date hereof or any license agreements entered into after the date hereof relating to any of the foregoing of any provisions that could or might in any way
impair or prevent the creation of a security interest in, or the assignment of, such Loan Party’s rights and interests therein, as contemplated by Sections 2.01 and 2.02 hereof. Such Loan Party will, upon request of the Collateral
Agent, execute any and all agreements, instruments, documents and papers as the Collateral Agent may request to evidence the Security Interest hereunder in any Patent, Trademark or Copyright (or application therefor) and the goodwill or accounts and
general intangibles of such Loan Party relating thereto or represented thereby, and such Loan Party hereby appoints the Collateral Agent its attorney-in-fact to execute and file such writings for the foregoing purposes. 
  

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 Section 4.12 Deposit Accounts and Securities Accounts. Except as expressly
contemplated by Section 4.01 hereof, no Loan Party shall establish after the date hereof or permit to exist any Deposit Account (other than Exempt Deposit Accounts) or any Securities Account (except any such account constituting
Collateral Accounts) without promptly delivering to the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement, a fully executed Account Control Agreement with respect to such
account unless otherwise agreed to by the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement, in writing. 
 Section 4.13 Electronic Chattel Paper. At the reasonable request of the Collateral Agent, such Loan Party shall create, store and
otherwise maintain all records comprising Electronic Chattel Paper in a manner such that: (i) a single authoritative copy of each such record exists which is unique, identifiable and, except as provided in clause (iv) below,
unalterable, (ii) the authoritative copy of each such record shall identify the Collateral Agent as assignees thereof, (iii) the authoritative copy of each such record is communicated to and maintained by the First Lien Collateral Agent or
its designee, or the Collateral Agent or its designee, as applicable, in accordance with the terms of the Intercreditor Agreement, (iv) copies or revisions that add or change any assignees of such record can be made only with the participation
of the Collateral Agent, (v) each copy (other than the authoritative copy) of such record is readily identifiable as a copy and (vi) any revision of the authoritative copy of such record is readily identifiable as an authorized or
unauthorized revision. 
 Section 4.14 Claims. In the event any Claim constituting a commercial tort claim in excess of
$500,000 arises and becomes known after the date hereof by a Responsible Officer, the applicable Loan Party will deliver to the Collateral Agent a supplement to Schedule 1.03(a) hereto describing such Claim and expressly subjecting such
Claim, all Judgments and/or Settlements with respect thereto and all Proceeds thereof to the Security Interest hereunder. 
 Section 4.15 Letter-of-Credit Rights. If any Letter-of-Credit Rights are hereafter acquired by any Loan Party, the applicable Loan Party will deliver or cause to be delivered to the First Lien Collateral Agent or the
Collateral Agent, as applicable, in accordance with the terms of the Intercreditor Agreement, a fully executed consent with respect thereto substantially in the form of Exhibit D hereto or in such other form as shall be reasonably acceptable
to the First Lien Collateral Agent or the Collateral Agent, as applicable, in accordance with the Intercreditor Agreement. Absent the occurrence and continuance of an Event of Default, the provisions of this Section 4.15 shall not apply
to (i) Letter of Credit Rights arising in respect of letters of credit having a face or stated amount of less than $1,000,000 or (ii) letters of credit in respect of which a Loan Party, after using commercially reasonable efforts, fails to
obtain from the issuer of such letter of credit the consent contemplated by the preceding sentence. 
  

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 ARTICLE V 
 GENERAL AUTHORITY; REMEDIES 
 Section 5.01 General Authority. Until the Discharge
of Second Lien Credit Obligations (other than contingent indemnification obligations) or in respect of any Loan Party that ceases to be a Guarantor as permitted under the Credit Agreement, until the time such Loan Party is released and the Security
Interests granted hereby are terminated, each Loan Party hereby appoints the Collateral Agent and any officer or agent thereof as its true and lawful attorney-in-fact, with full power of substitution, in the name of such Loan Party, the Collateral
Agent, the Credit Parties or otherwise, for the sole use and benefit of the Collateral Agent and the Credit Parties, but at such Loan Party’s expense, to the extent permitted by Law and subject to the terms of the Intercreditor Agreement, to
exercise at any time and from time to time while an Event of Default has occurred and is continuing, after notice to the Loan Parties, all or any of the following powers with respect to all or any of the Collateral: 
 (i) to take any and all reasonably appropriate action and to execute any and all documents and instruments which may be necessary to carry
out the terms of this Agreement; 
 (ii) to receive, take, indorse, assign and deliver any and all checks, notes, drafts,
acceptances, documents and other negotiable and non-negotiable Instruments taken or received by such Loan Party as, or in connection with, the Collateral; 
 (iii) to accelerate any Receivable which may be accelerated in accordance with its terms, and to otherwise demand, sue for, collect, receive and give acquittance for any and all monies due or to become due on or by
virtue of any Collateral; 
 (iv) to commence, settle, compromise, compound, prosecute, defend or adjust any Claim, suit,
action or proceeding with respect to, or in connection with, the Collateral; 
 (v) to sell, transfer, assign or otherwise
deal in or with the Collateral or the Proceeds or avails thereof, including, without limitation, for the implementation of any assignment, lease, License, sublicense, grant of option, sale or other disposition of any Patent, Trademark, Copyright or
Software or any action related thereto, as fully and effectually as if the Collateral Agent were the absolute owner thereof; 
 (vi) to extend the time of payment of any or all of the Collateral and to make any allowance and other adjustments with respect thereto; and 
 (vii) to do, at its option, but at the expense of the Loan Parties, at any time or from time to time, all acts and things which the Collateral Agent deems reasonably necessary to protect or preserve the Collateral and
to realize upon the Collateral. 
 Section 5.02 Authority of the Collateral Agent. Each Loan Party acknowledges that the
rights and responsibilities of the Collateral Agent under this Agreement with respect to any action taken by it or them or the exercise or non-exercise by the Collateral Agent of any option, voting right, request, judgment or other right or remedy
provided for herein or resulting 

  

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or arising out of this Agreement shall, as among the Collateral Agent and the other Credit Parties, be governed by the Credit Agreement, the Intercreditor
Agreement, and by such other agreements with respect thereto as may exist from time to time among them, but, as between the Collateral Agent, on the one hand, and the Loan Parties on the other, the Collateral Agent shall be conclusively presumed to
be acting as agent for the other Credit Parties it represents as collateral agent with full and valid authority so to act or refrain from acting, and no Loan Party shall be under any obligation, or entitlement, to make any inquiry respecting such
authority. 
 Section 5.03 Remedies upon Event of Default. Subject, in each case, to the terms of the Intercreditor
Agreement: 
 (a) If any Event of Default has occurred and is continuing, the Collateral Agent, upon being instructed to do so by the Required
Lenders after notice to the Loan Parties, may, in addition to all other rights and remedies granted to it in this Agreement and in any other agreement securing, evidencing or relating to the Credit Obligations (including without limitation, the
right to give or cause the Collateral Agent to give instructions or a notice of sole control under an Account Control Agreement, it being understood and agreed by the Loan Parties and the Collateral Agent that, notwithstanding the provisions of any
Account Control Agreement, the Collateral Agent will not give a notice of exclusive control under an Account Control Agreement or other similar instruction except after the occurrence and during the continuance of an Event of Default):
(i) exercise on behalf of the Credit Parties all rights and remedies of a secured party under the UCC (whether or not in effect in the jurisdiction where such rights are exercised) and, in addition, (ii) without demand of performance or
other demand or notice of any kind (except as herein provided or as may be required by mandatory provisions of Law) to or upon any Loan Party or any other Person (all of which demands and/or notices are hereby waived by each Loan Party),
(A) withdraw all cash and Liquid Investments in the Collateral Accounts and apply such cash and Liquid Investments and other cash, if any, then held by it as Collateral as specified in Section 5.05 hereof, (B) give notice and
take sole possession and control of all amounts on deposit in or credited to any Deposit Account or Securities Account pursuant to the related Account Control Agreement and apply all such funds as specified in Section 5.05 and
(C) if there shall be no such cash, Liquid Investments or other amounts or if such cash, Liquid Investments and other amounts shall be insufficient to pay all the Credit Obligations in full or cannot be so applied for any reason or if the
Collateral Agent determines to do so, collect, receive, appropriate and realize upon the Collateral and/or sell, assign, give an option or options to purchase or otherwise dispose of and deliver the Collateral (or contract to do so) or any part
thereof at public or private sale, at any office of the Collateral Agent or elsewhere in such manner as is commercially reasonable and as the Collateral Agent may deem best, for cash, on credit or for future delivery, without assumption of any
credit risk and at such price or prices as the Collateral Agent may deem reasonably satisfactory. 
 (b) If any Event of Default has occurred
and is continuing, the Collateral Agent shall give each Loan Party not less than 10 days prior notice of the time and place of any sale or other intended disposition of any of the Collateral, except any Collateral which is perishable or threatens to
decline speedily in value or is of a type customarily sold on a recognized market. Any such notice shall (i) in the case of a public sale, state the time and place fixed for such sale, (ii) in the case of a private sale, state the day
after which such sale may be consummated, (iii) contain the information specified in Section 9-613 of the UCC, (iv) be authenticated and (v) be 

  

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sent to the parties required to be notified pursuant to Section 9-611(c) of the UCC; provided that, if the Collateral Agent fails to comply with
this sentence in any respect, its liability for such failure shall be limited to the liability (if any) imposed on it as a matter of Law under the UCC. The Collateral Agent and each Loan Party agree that such notice constitutes reasonable
notification within the meaning of Section 9-611 of the UCC. Except as otherwise provided herein, each Loan Party hereby waives, to the extent permitted by applicable Law, notice and judicial hearing in connection with the Collateral
Agent’s taking possession or disposition of any of the Collateral. 
 (c) The Collateral Agent or any Credit Party may be the purchaser
of any or all of the Collateral so sold at any public sale (or, if the Collateral is of a type customarily sold in a recognized market or is of a type which is the subject of widely distributed standard price quotations, at any private sale). Each
Loan Party will execute and deliver such documents and take such other action reasonably necessary in order that any such sale may be made in compliance with Law. Upon any such sale, the Collateral Agent shall have the right to deliver, assign and
transfer to the purchaser thereof the Collateral so sold. Each purchaser at any such sale shall hold the Collateral so sold to it absolutely and free from any claim or right of whatsoever kind. Any such public sale shall be held at such time or
times within ordinary business hours and at such place or places as the Collateral Agent may fix in the notice of such sale. At any such sale, the Collateral may be sold in one lot as an entirety or in separate parcels, as the Collateral Agent may
determine. The Collateral Agent shall not be obligated to make any such sale pursuant to any such notice. The Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time
by announcement at the time and place fixed for the sale, and such sale may be made at any time or place to which the same may be so adjourned without further notice. In the case of any sale of all or any part of the Collateral on credit or for
future delivery, the Collateral so sold may be retained by the Collateral Agent until the selling price is paid by the purchaser thereof, but the Collateral Agent shall not incur any liability in the case of the failure of such purchaser to take up
and pay for the Collateral so sold and, in the case of any such failure, such Collateral may again be sold upon like notice. 
 (d) For the
purpose of enforcing any and all rights and remedies under this Agreement, the Collateral Agent may, if any Event of Default has occurred and is continuing, (i) require each Loan Party to, and each Loan Party agrees that it will, at its expense
and upon the request of the Collateral Agent, forthwith assemble, store and keep all or any part of the Collateral as directed by the Collateral Agent and make it available at a place designated by the Collateral Agent which is, in the Collateral
Agent’s opinion, reasonably convenient to the Collateral Agent and such Loan Party, whether at the premises of such Loan Party or otherwise, it being understood that such Loan Party’s obligation so to deliver the Collateral is of the
essence of this Agreement and that, accordingly, upon application to a court of equity having jurisdiction, the Collateral Agent shall be entitled to a decree requiring specific performance by such Loan Party of such obligation; (ii) to the
extent permitted by applicable Law, enter, with or without process of Law and without breach of the peace, any premise where any of the Collateral is or may be located, and without charge or liability to any Loan Party, seize and remove such
Collateral from such premises; (iii) have access to and use such Loan Party’s books and records relating to the Collateral; and (iv) prior to the disposition of the Collateral, store or transfer it without charge in or by means of any
storage or transportation facility owned or leased by such Loan Party, process, repair or recondition it or otherwise prepare it for disposition in any manner and to the extent the Collateral Agent deems appropriate and, in connection with such
preparation and disposition, use without charge 

  

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any Intellectual Property or technical process used by such Loan Party. The Collateral Agent may also render any or all of the Collateral unusable at any
Loan Party’s premises and may dispose of such Collateral on such premises without liability for rent or costs. 
 (e) Without limiting
the generality of the foregoing, if any Event of Default has occurred and is continuing: 
 (i) the Collateral Agent may after
notice to the Loan Parties, subject to the express terms of any valid and enforceable restriction in favor of a Person who is not a Group Company prohibit, or require any consent or establish any other condition for, an assignment thereof, license,
or sublicense, whether general, special or otherwise, and whether on an exclusive or non-exclusive basis, of any Patents, Trademarks, Copyrights, or other Intellectual Property included in the Collateral throughout the world for such term or terms,
on such conditions and in such manner as the Collateral Agent shall in its sole discretion determine; 
 (ii) the Collateral
Agent may after notice to the Loan Parties (without assuming any obligations or liability thereunder), at any time and from time to time, enforce (and shall have the exclusive right to enforce) against any Licensee or sublicensee all rights and
remedies of any Loan Party in, to and under any License and take or refrain from taking any action under any provision thereof, and each Loan Party hereby releases the Collateral Agent and each of the Credit Parties from, and agrees to hold the
Collateral Agent and each of the Credit Parties free and harmless from and against any claims arising out of, any lawful action so taken or omitted to be taken with respect thereto; 
 (iii) upon request by the Collateral Agent, each Loan Party will use its commercially reasonable efforts to obtain all requisite consents
or approvals by the licensor or sublicensor of each License to effect the assignment of all of such Loan Party’s right, title and interest thereunder to the Collateral Agent or its designee and will execute and deliver to the Collateral Agent a
power of attorney, in form and substance reasonably satisfactory to the Collateral Agent, for the implementation of any lease, assignment, License, sublicense, grant of option, sale or other disposition of a Patent, Trademark or Copyright; and

 (iv) the Collateral Agent may direct any Loan Party to refrain, in which event each such Loan Party shall refrain, from
using or practicing any Trademark, Patent or Copyright in any manner whatsoever, directly or indirectly, and shall, if requested by the Collateral Agent, change such Loan Party’s name to eliminate therefrom any use of any Trademark and will
execute such other and further documents as the Collateral Agent may request to further confirm this change and transfer ownership of the Trademarks, Patents, Copyrights and registrations and any pending applications therefor to the Collateral
Agent. 
 (f) Reserved. 
 (g) If
any Event of Default has occurred and is continuing, the Collateral Agent, instead of exercising the power of sale conferred upon it pursuant to this Section 5.03, may proceed 

  

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by a suit or suits at Law or in equity to foreclose the Security Interest and sell the Collateral, or any portion thereof, under a judgment or decree of a
court or courts of competent jurisdiction, and may in addition institute and maintain such suits and proceedings as the Collateral Agent may deem appropriate to protect and enforce the rights vested in it by this Agreement. 
 (h) If any Event of Default has occurred and is continuing, the Collateral Agent shall, to the extent permitted by applicable Law, without notice to any
Loan Party or any party claiming through any Loan Party, without regard to the solvency or insolvency at such time of any Person then liable for the payment of any of the Credit Obligations, without regard to the then value of the Collateral and
without requiring any bond from any complainant in such proceedings, be entitled as a matter of right to the appointment of a receiver or receivers of the Collateral or any part thereof, and of the profits, revenues and other income thereof, pending
such proceedings, with such powers as the court making such appointment shall confer, and to the entry of an order directing that the profits, revenues and other income of the property constituting the whole or any part of the Collateral be
segregated, sequestered and impounded for the benefit of the Collateral Agent and the Credit Parties, and each Loan Party irrevocably consents to the appointment of such receiver or receivers and to the entry of such order. 
 (i) If any Event of Default has occurred and is continuing, each Loan Party agrees, to the extent it may lawfully do so, that it will not at any time in
any manner whatsoever claim or take the benefit or advantage of, any appraisal, valuation, stay, extension, moratorium, turnover or redemption Law, or any Law permitting it to direct the order in which the Collateral shall be sold, now or at any
time hereafter in force which may delay, prevent or otherwise affect the performance or enforcement of this Agreement, and each Loan Party hereby waives all benefit or advantage of all such Laws. Each Loan Party covenants that it will not hinder,
delay or impede the execution of any power granted to the Collateral Agent, the Administrative Agent or any other Credit Party in any Loan Document. 
 (j) If any Event of Default has occurred and is continuing, each Loan Party, to the extent it may lawfully do so, on behalf of itself and all who claim through or under it, including, without limitation, any and all
subsequent creditors, vendees, assignees and lienors, waives and releases all rights to demand or to have any marshalling of the Collateral upon any sale, whether made under any power of sale granted herein or pursuant to judicial proceedings or
under any foreclosure or any enforcement of this Agreement, and consents and agrees that all of the Collateral may at any such sale be offered and sold as an entirety. 
 (k) If any Event of Default has occurred and is continuing, each Loan Party waives, to the extent permitted by Law, presentment, demand, protest and any notice of any kind (except the notices expressly required
hereunder or in the other Loan Documents) in connection with this Agreement and any action taken by the Collateral Agent with respect to the Collateral. 
 (l) Notwithstanding anything to the contrary in this Agreement, the exercise of remedies under this Agreement by the Collateral Agent upon the occurrence and during the continuance of an Event of Default shall be
subject to Section 8.02(e) of the Credit Agreement. 
 Section 5.04 Limitation on Duty of the Collateral Agent in
Respect of Collateral. Beyond the exercise of reasonable care in the custody thereof, neither the Collateral 

  

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Agent, nor any Credit Party shall have any duty to exercise any rights or take any steps to preserve the rights of any Loan Party in the Collateral in its or
their possession or control or in the possession or control of any agent or bailee or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto, nor shall the Collateral Agent or any Credit
Party be liable to any Loan Party or any other Person for failure to meet any obligation imposed by Section 9-207 of the UCC or any successor provision. Each Loan Party agrees to the extent it may lawfully do so that the Collateral Agent shall
not at any time be required to, nor shall the Collateral Agent be liable to any Loan Party for any failure to, account separately to any Loan Party for amounts received or applied by the Collateral Agent from time to time in respect of the
Collateral pursuant to the terms of this Agreement. Without limiting the foregoing, the Collateral Agent shall be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession if the Collateral is
accorded treatment substantially equal to that which the Collateral Agent accords its own property, and shall not be liable or responsible for any loss or damage to any of the Collateral, or for any diminution in the value thereof, by reason of the
act or omission of any warehouseman, carrier, forwarding agency, consignee or other agent or bailee selected by the Collateral Agent in good faith absent gross negligence or willful misconduct. 
 Section 5.05 Application of Proceeds. 
 (a) Priority of Distributions. The proceeds of any sale by the Collateral Agent of, or other realization upon, all or any part of the Collateral and any cash held in the Collateral Accounts or otherwise
by the Collateral Agent or any nominee or custodian thereof shall be paid over to the Administrative Agent for application as provided in the Credit Agreement, subject in all cases to the priorities set forth in Section 8.03 of the
Credit Agreement. The Collateral Agent may make distributions hereunder in cash or in kind or, on a ratable basis, in any combination thereof. 
 (b) [Intentionally Omitted]. 
 (c) Reliance by the Collateral Agent. For purposes of applying payments
received in accordance with this Section 5.05, the Collateral Agent shall be entitled to rely upon (i) the Administrative Agent under the Credit Agreement for a determination of the outstanding Credit Obligations owed to the Credit
Parties, and shall have no liability to any Loan Party or any other Credit Party for actions taken in reliance on such information except in the case of its gross negligence, bad faith or willful misconduct. All distributions made by the Collateral
Agent pursuant to this Section shall be presumptively correct (except in the event of manifest error, gross negligence or willful misconduct), and the Collateral Agent shall have no duty to inquire as to the application by the Credit Parties of any
amounts distributed to them. 
 (d) Deficiencies. It is understood that the Loan Parties shall remain liable to the extent of
any deficiency between the amount of the proceeds of the Collateral and the amount of the Credit Obligations. 
  

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 ARTICLE VI 
 COLLATERAL AGENT 
 Section 6.01 Concerning the Collateral Agent. The provisions of
Article IX of the Credit Agreement shall inure to the benefit of the Collateral Agent in respect of this Agreement and shall be binding upon all Loan Parties and all Credit Parties and upon the parties hereto in such respect. In furtherance
and not in derogation of the rights, privileges and immunities of the Collateral Agent therein set forth: 
 (i) The
Collateral Agent is authorized to take all such actions as are provided to be taken by it as Collateral Agent hereunder and all other action reasonably incidental thereto. As to any matters not expressly provided for herein (including, without
limitation, the timing and methods of realization upon the Collateral), the Collateral Agent shall act or refrain from acting in accordance with written instructions from the Required Lenders or, in the absence of such instructions or provisions, in
accordance with its discretion. 
 (ii) The Collateral Agent shall not be responsible for the existence, genuineness or value
of any of the Collateral or for the validity, perfection, priority or enforceability of the Security Interest created hereunder in any of the Collateral, whether impaired by operation of Law or by reason of any action or omission to act on its part
hereunder unless such action or omission constitutes gross negligence or willful misconduct. The Collateral Agent shall not have a duty to ascertain or inquire as to the performance or observance of any of the terms of this Agreement by any Loan
Party. 
 Section 6.02 Appointment of Co-Collateral Agent. At any time or times, in order to comply with any legal
requirement in any jurisdiction or otherwise, the Collateral Agent may in consultation with the Borrower and, unless an Event of Default shall have occurred and be continuing, with the consent of the Borrower (not to be unreasonably withheld or
delayed) appoint another bank or trust company or one or more other persons, either to act as co-agent or co-agents, jointly with the Collateral Agent, or to act as separate agent or agents on behalf of the Credit Parties with such power and
authority as may be necessary for the effectual operation of the provisions hereof and may be specified in the instrument of appointment (which may, in the discretion of the Collateral Agent, include provisions for the protection of such co-agent or
separate agent similar to the provisions of Section 6.01). Notwithstanding any such appointment but only to the extent not inconsistent with such legal requirements or, in the reasonable judgment of the Collateral Agent, not unduly
burdensome to it or any such co-agent, each Loan Party shall, so long as no Event of Default shall have occurred and be continuing, be entitled to deal solely and directly with the Collateral Agent rather than any such co-agent in connection with
the Collateral Agent’s rights and obligations under this Agreement. 
  

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 ARTICLE VII 
 MISCELLANEOUS 
 Section 7.01 Notices. 
 (a) Unless otherwise expressly provided herein, all notices, and other communications provided for hereunder shall be in writing (including by facsimile
transmission) and mailed, faxed or delivered, to the address, facsimile number or (subject to subsection (b) below) electronic mail address specified for notices: (i) in the case of any Subsidiary Guarantor, as set forth in
Section 5.01 of the Guaranty; (ii) in the case of Holdings, the Borrower, the Administrative Agent or any Lender, as specified in or pursuant to Section 10.02 of the Credit Agreement; (iii) in the case of the
Collateral Agent, as set forth in the signature pages hereto; or (iv) in the case of any party, at such other address as shall be designated by such party in a notice to the Collateral Agent and each other party hereto. All such notices and
other communications shall be deemed to be given or made upon the earlier to occur of: (i) actual receipt by the intended recipient and (ii) (A) if delivered by hand or by courier, when signed for by the intended recipient;
(B) if delivered by mail, four Business Days after deposit in the mails, postage prepaid; (C) if delivered by facsimile transmission, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail
(which form of delivery is subject to the provisions of subsection (b) below), when delivered. Rejection or refusal to accept, or the inability to deliver because of a changed address of which no notice was given, shall not affect the
validity of notice given in accordance with this Section. 
 (b) Except as expressly provided herein or as may be agreed by the
Administrative Agent in its sole discretion, electronic mail and internet and intranet websites may be used only to distribute routine communications, such as financial statements and other information, and to distribute Loan Documents for execution
by the parties thereto, to distribute executed Loan Documents in Adobe PDF format and may not be used for any other purpose. 
 Section 7.02 No Waivers; Non-Exclusive Remedies. No failure or delay on the part of the Collateral Agent or any Credit Party to exercise, no course of dealing with respect to, and no delay in exercising, any right, power
or privilege under this Agreement or any other Loan Document or any other document or agreement contemplated hereby or thereby and no course of dealing between the Collateral Agent or any Credit Party and any of the Loan Parties shall operate as a
waiver thereof nor shall any single or partial exercise of any such right, power or privilege hereunder or under any Loan Document preclude any other or further exercise thereof or the exercise of any other right, power or privilege hereunder or
thereunder. The rights and remedies provided herein and in the other Loan Documents are cumulative and are not exclusive of any other remedies provided by Law. Without limiting the foregoing, nothing in this Agreement shall impair the right of any
Credit Party to exercise any right of set-off or counterclaim it may have and to apply the amount subject to such exercise to the payment of indebtedness of any Loan Party other than its indebtedness under the Loan Documents. Each Loan Party agrees,
to the fullest extent it may effectively do so under applicable law, that any holder, as to which the identity is disclosed, of a participation in a Credit Obligation, whether or not acquired pursuant to the terms of any applicable Loan Document,
may exercise rights of set-off or counterclaim or other rights with respect to such participation as fully as if such holder of a participation were a direct creditor of the Loan Party in the amount of such participation. 
  

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 Section 7.03 Compensation and Expenses of the Collateral Agent; Indemnification.

 (a) Expenses and Indemnification. The Loan Parties agree that the Administrative Agent and Collateral Agent are each entitled
to (i) reimbursement of its expenses incurred hereunder and (ii) certain indemnifications, each as provided for and in accordance with Section 10.04 of the Credit Agreement. 
 (b) Protection of Collateral. If any Loan Party fails to comply with the provisions of any Loan Document, such that the value of any
Collateral or the validity, perfection, rank or value of the Security Interest is thereby materially diminished or potentially diminished in a material respect or put at material risk, the Collateral Agent may, but shall not be required to, effect
such compliance on behalf of such Loan Party, and the Loan Parties shall reimburse the Collateral Agent for the out-of-pocket costs thereof within ten (10) Business Days of demand. All insurance expenses and all expenses of protecting, storing,
warehousing, appraising, handling, maintaining and shipping the Collateral, any and all excise, property, sales and use taxes imposed by any state, federal or local authority on any of the Collateral, or in respect of periodic appraisals and
inspections of the Collateral, or in respect of the sale or other disposition thereof shall be borne and paid by the Loan Parties. If any Loan Party fails to promptly pay any portion thereof when due, the Collateral Agent may, at its option, but
shall not be required to, pay the same and charge the Loan Parties’ account therefor, and the Loan Parties agree to reimburse the Collateral Agent therefor on demand. All sums so paid or incurred by the Collateral Agent for any of the foregoing
and any and all other sums for which any Loan Party may become liable hereunder and all costs and expenses (including attorneys’ fees, legal expenses and court costs) reasonably incurred by the Collateral Agent in enforcing or protecting the
Security Interest or any of its rights or remedies under this Agreement, shall, together with interest thereon until paid at the rate applicable to Loans, be additional Credit Obligations hereunder. 
 (c) Contribution. If and to the extent that the obligations of any Loan Party under this Section 7.03 are unenforceable for any
reason, each Loan Party hereby agrees to make the maximum contribution to the payment and satisfaction of such obligations which is permissible under applicable Law. 
 (d) Expenses. Notwithstanding anything to the contrary herein, the Loan Parties shall not be required to pay the fees and expenses of third party advisors to the Administrative Agent or Collateral Agent
(which shall not include counsel) retained without consent of the applicable Loan Party (such consent not to be unreasonably withheld or delayed) or more than one counsel (plus local and special counsel). 
 Section 7.04 Enforcement. The Credit Parties agree that this Agreement may be enforced (subject to the terms of the Intercreditor
Agreement) only by the action of the Collateral Agent, acting upon the instructions of the Required Lenders and that no other Credit Party shall have any right individually to seek to enforce this Agreement or to realize upon the security to be
granted hereby, it being understood and agreed that such rights and remedies may be exercised by the Collateral Agent for the benefit of the Credit Parties upon the terms of this Agreement and the other Loan Documents. 
 Section 7.05 Amendments and Waivers. Any provision of this Agreement may be amended, changed, discharged, terminated or waived if, but
only if, such amendment or waiver is in accordance with the Intercreditor Agreement and in writing and is signed by each 

  

 -31- 

 
Loan Party directly affected by such amendment, change, discharge, termination or waiver (it being understood that the addition or release of any Loan Party
hereunder shall not constitute an amendment, change, discharge, termination or waiver affecting any Loan Party other than the Loan Party so added or released and it being further understood and agreed that any supplement to Schedule 1.03(a)
delivered pursuant to Section 4.14 shall not require the consent of any Loan Party) and the Collateral Agent (with the consent of the Required Lenders to the extent required by Section 10.01 of the Credit Agreement or such
lesser amount of the Lenders if any as may be specified therein), at all times prior to the time on which all Credit Obligations have been paid in full (other than contingent indemnification obligations) and all Commitments with respect thereto have
been terminated; provided, however, that no such amendment, change, discharge, termination or waiver shall be made to Section 5.05 hereof or this Section 7.05 without the consent of each Credit Party adversely
affected thereby except to the extent expressly provided in the Credit Agreement; provided further, that no consent shall be required in connection with any automatic termination or release in accordance with Section 7.11
hereof. 
 Section 7.06 Successors and Assigns. This Agreement shall be binding upon each of the parties hereto and inure
to the benefit of the Collateral Agent, the Credit Parties and their respective successors and permitted assigns. In the event of an assignment of all or any of the Credit Obligations, the rights hereunder, to the extent applicable to the
indebtedness so assigned, may be transferred with such indebtedness. No Loan Party shall assign or delegate any of its rights and duties hereunder without the prior written consent of the Required Lenders or all of the Lenders as provided in
Section 10.01 of the Credit Agreement. 
 Section 7.07 Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES, EXCEPT AS OTHERWISE
REQUIRED BY MANDATORY PROVISIONS OF LAW AND EXCEPT TO THE EXTENT THAT REMEDIES PROVIDED BY THE LAWS OF ANY JURISDICTIONS OTHER THAN NEW YORK ARE GOVERNED BY THE LAWS OF SUCH JURISDICTIONS. 
 Section 7.08 Limitation of Law; Severability. 
 (a) All rights, remedies and powers provided in this 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 Agreement
are intended to be subject to all applicable mandatory provisions of Law which may be controlling and be limited to the extent necessary so that they will not render this Agreement invalid, unenforceable in whole or in part, or not entitled to be
recorded, registered or filed under the provisions of any applicable Law. 
 (b) If any provision hereof is invalid or unenforceable in any
jurisdiction, then, to the fullest extent permitted by Law, (i) the other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Collateral Agent and the Credit Parties in
order to carry out the intentions of the parties hereto as nearly as may be possible, and (ii) the invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect the validity or enforceability of such provisions in
any other jurisdiction. 
  

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 Section 7.09 Counterparts; Effectiveness. This Agreement may be signed in any number
of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement shall become effective with respect to each Loan Party when the Collateral Agent shall
receive counterparts hereof executed by itself and such Loan Party. This Agreement may be transmitted and/or signed by facsimile or Adobe PDF file and if so transmitted or signed, shall, subject to requirements of Law, have the same force and effect
as a manually signed original and shall be binding on the Loan Parties and the Collateral Agent. 
 Section 7.10 Additional Loan
Parties. It is understood and agreed that any Subsidiary of Holdings that is required by any Loan Document to execute a counterpart of this Agreement after the date hereof shall automatically become a Loan Party hereunder with the same force
and effect as if originally named as a Loan Party hereunder by executing an Accession Agreement or other form reasonably acceptable to such subsidiary and the Collateral Agent. Concurrently with the execution and delivery of such instrument of
accession or joinder, such Subsidiary shall take all such actions and deliver to the Collateral Agent all such documents and agreements as such Subsidiary would have been required to deliver to the Collateral Agent on or prior to the date of this
Agreement had such Subsidiary been a party hereto on the date of this Agreement. Such additional materials shall include, among other things, supplements to Schedules 1.03(a), 3.05 and 4.01 hereto (which Schedules shall
thereupon automatically be amended and supplemented to include all information contained in such supplements) such that, after giving effect to the joinder of such Subsidiary, each of Schedules 1.03(a), 3.05 and 4.01 hereto is
true, complete and correct in all material respects with respect to such Subsidiary as of the effective date of such accession or joinder. The execution and delivery of any such instrument of accession or joinder, and the amendment and
supplementation of the Schedules hereto as provided in the immediately preceding sentence, shall not require the consent of any other Loan Party hereunder. The rights and obligations of each Loan Party hereunder shall remain in full force and effect
notwithstanding the addition of any new Loan Party as a party to this Agreement. 
 Section 7.11 Termination and Release. 

 (a) Upon the Discharge of Second Lien Credit Obligations (other than contingent indemnification obligations), the Security Interest created
hereunder in favor of the Collateral Agent shall automatically terminate and be released. 
 (b) Any Subsidiary that is a Loan Party shall
automatically be released from its obligations hereunder and the Security Interest in the Collateral of such Subsidiary shall be automatically released upon (i) the consummation of any transaction permitted by the Credit Agreement (or consented
to in writing pursuant to Section 10.01 of the Credit Agreement) as a result of which such Subsidiary ceases to be a Subsidiary of Holdings. 
 (c) Upon any sale, transfer or other disposition by any Loan Party of Collateral that is permitted under the Credit Agreement (other than to another Loan Party), or upon the effectiveness of any written consent to the
release of Security Interest granted hereby in any Collateral pursuant to Section 10.01 of the Credit Agreement, the Security Interest of the Collateral Agent in such Collateral and any other security interests granted hereby in such
Collateral shall be automatically released. 
  

 -33- 

 (d) Upon the termination or release of any Security Interest created hereunder or release of Collateral,
the Collateral Agent will, upon request by and at the expense of any Loan Party, execute and deliver to such Loan Party such documents as such Loan Party shall reasonably request to evidence the termination of the Security Interest created hereunder
or the release of such Collateral, as the case may be. Any such documents shall be without recourse to or warranty by the Collateral Agent or the Credit Parties. The Collateral Agent shall not have any liability whatsoever to any Credit Party as a
result of any release of Collateral by it as permitted by this Section 7.11. Upon any release of Collateral pursuant to this Section 7.11, none of the Credit Parties shall have any continuing right or interest in such
Collateral or the Proceeds thereof. 
 Section 7.12 Entire Agreement. This Agreement and the other Loan Documents
constitute the entire agreement and understanding among the parties hereto and supersede any and all prior agreements and understandings, oral or written, and any contemporaneous oral agreements and understandings relating to the subject matter
hereof and thereof. 
 Section 7.13 No Conflict. In the event of conflict between the provisions of the Credit Agreement
and this Agreement, the Credit Agreement shall take precedence. In the event of conflict between the provisions of the Pledge Agreement and this Agreement with respect to matters contained therein, the Pledge Agreement shall take precedence subject
to the preceding sentence. 
 Section 7.14 Intercreditor Agreement. 
 (a) Notwithstanding anything herein to the contrary, the liens and security interests granted to the Collateral Agent pursuant to this Agreement and the
exercise of any right or remedy by the Collateral Agent hereunder are subject to the limitations and provisions of the Intercreditor Agreement, dated as of March 26, 2009 (as amended, restated, supplemented or otherwise modified from time to
time, the “Intercreditor Agreement”) among Bank of America, N.A., as First Lien Collateral Agent and the Collateral Agent, and certain other persons party or that may become party thereto from time to time. In the event of any
conflict between the terms of the Intercreditor Agreement and the terms of this Agreement, the terms of the Intercreditor Agreement shall govern and control. 
 (b) Notwithstanding anything to the contrary herein, any provision hereof that requires any Loan Party to (a) deliver any Collateral to the Collateral Agent or (b) provide that the Collateral Agent have
control over such Collateral may be satisfied prior to the Discharge of the First Lien Finance Obligations by (i) the delivery of such Collateral by such Loan Party to the First Lien Collateral Agent for the benefit of the First Lien Finance
Parties and the Collateral Agent, for the benefit of itself and the Credit Parties Lenders pursuant to the Intercreditor Agreement and (ii) providing that the First Lien Collateral Agent be provided with control with respect to such Collateral
of such Loan Party for the for the benefit of the First Lien Finance Parties and the Administrative Agent, for the benefit of itself and the Lenders, pursuant to the Intercreditor Agreement. 
 [Signature Pages Follow] 
  

 -34- 

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

					
	 LOAN PARTIES:
	 	SBARRO HOLDINGS, LLC,
		 	  as Holdings
			
		 	By:	 	 /s/ Daniel G. Montgomery

		 	Name:	 	Dan Montgomery
		 	Title:	 	Chief Financial Officer
		
		 	SBARRO, INC.,
		 	  as Borrower
			
		 	By:	 	 /s/ Daniel G. Montgomery

		 	Name:	 	Dan Montgomery
		 	Title:	 	Chief Financial Officer
		
		 	COREST MANAGEMENT, INC.
		 	DEMEFAC LEASING CORP.
		 	LARKFIELD EQUIPMENT CORP.
		 	MELVILLE ADVERTISING AGENCY, INC.
		 	SBARRO AMERICA, INC.
		 	SBARRO AMERICA PROPERTIES, INC.
		 	SBARRO COMMACK, INC.
		 	SBARRO NEW HYDE PARK, INC.
		 	SBARRO OF LAS VEGAS, INC.
		 	SBARRO OF VIRGINIA, INC.
		 	SBARRO PENNSYLVANIA, INC.
		 	SBARRO PROPERTIES, INC.
		 	SBARRO VENTURE, INC.
		 	SBARRO OF TEXAS, INC.
			
		 	By:	 	 /s/ Daniel G. Montgomery

		 	Name:	 	Dan Montgomery
		 	Title:	 	Chief Financial Officer

  

					
	[Second Lien Security Agreement]	  	S-1	  	

			
	SBARRO EXPRESS LLC
	CARMELA’S, LLC
	UMBERTO AT THE SOURCE, LLC
	UMBERTO WHITE PLAINS, LLC
		
	By:	 	Sbarro, Inc., Sole Member of each company listed above
		
	By:	 	 /s/ Daniel G. Montgomery

	Name:	 	Dan Montgomery
	Title:	 	Chief Financial Officer
	
	SBARRO BLUE BELL EXPRESS, LLC
		
	By:	 	Sbarro Express LLC, its Sole Member
		
		 	By:    Sbarro, Inc., its Sole Member
		
	By:	 	 /s/ Daniel G. Montgomery

	Name:	 	Dan Montgomery
	Title:	 	Chief Financial Officer
	
	UMBERTO HUNTINGTON, LLC
	UMBERTO DEER PARK, LLC
	UMBERTO HAUPPAUGE, LLC
	UMBERTO HICKSVILLE, LLC
	UMBERTO SYOSSET, LLC
	MAMA SBARRO’S OF EAST MEADOW, LLC
		
	By:	 	Sbarro New Hyde Park, Inc., Sole Member of each company listed above
		
	By:	 	 /s/ Daniel G. Montgomery

	Name:	 	Dan Montgomery
	Title:	 	Chief Financial Officer

  

					
	[Second Lien Security Agreement]	  	S-2	  	

			
	SBARRO OF LONGWOOD, LLC
	CARMELA’S OF KIRKMAN, LLC
		
	By:	 	Carmela’s, LLC, Sole Member of each company listed above
		
		 	By:    Sbarro, Inc., its Sole Member
		
	By:	 	 /s/ Daniel G. Montgomery

	Name:	 	Dan Montgomery
	Title:	 	Chief Financial Officer

  

					
	[Second Lien Security Agreement]	  	S-3	  	

					
	COLLATERAL AGENT:	 	NATIXIS, NEW YORK BRANCH
		 	  as Collateral Agent
			
		 	By:	 	 /s/ Samantha X. Tang/Stacey Caruth

		 	Name:	 	Samantha X. tang/Stacey Caruth
		 	Title:	 	Associate Director/Associate Director
		
		 	Notice Address:
		
		 	1251 Avenue of the Americas, 34th Floor
		 	New York, NY 10020
		 	Attn: Hana Beckles
		 	Phone: 212-583-4913
		 	Fax: 646-607-9186
		 	Email: Hana.Beckles@natixis.usGuaranty dated as of March 26, 2009

 Exhibit 10.13 
  
  
 GUARANTY 
 dated as of March 26, 2008 
 among 
 SBARRO HOLDINGS, LLC, 
 and 
 THE SUBSIDIARY GUARANTORS FROM TIME TO TIME PARTY HERETO, 
 and 
 NATIXIS, NEW YORK BRANCH, 

 as Administrative Agent 
  
  

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	ARTICLE I	  	
	GUARANTY	  	
			
	SECTION 1.01	  	THE GUARANTY	  	1
	SECTION 1.02	  	GUARANTY ABSOLUTE	  	2
	SECTION 1.03	  	PAYMENTS	  	4
	SECTION 1.04	  	DISCHARGE; REINSTATEMENT IN CERTAIN CIRCUMSTANCES	  	5
	SECTION 1.05	  	WAIVER BY THE GUARANTORS	  	5
	SECTION 1.06	  	AGREEMENT TO PAY; SUBORDINATION OF SUBROGATION CLAIMS	  	8
	SECTION 1.07	  	STAY OF ACCELERATION	  	9
	SECTION 1.08	  	NO SET-OFF	  	9
		
	ARTICLE II	  	
	INDEMNIFICATION, SUBROGATION AND CONTRIBUTION	  	
			
	SECTION 2.01	  	INDEMNITY AND SUBROGATION	  	9
	SECTION 2.02	  	CONTRIBUTION AND SUBROGATION	  	10
		
	ARTICLE III	  	
	REPRESENTATIONS, WARRANTIES AND COVENANTS	  	
			
	SECTION 3.01	  	REPRESENTATIONS AND WARRANTIES; CERTAIN AGREEMENTS	  	10
	SECTION 3.02	  	INFORMATION	  	11
	SECTION 3.03	  	SUBORDINATION BY GUARANTORS	  	11
		
	ARTICLE IV	  	
	[INTENTIONALLY OMITTED]	  	
		
	ARTICLE V	  	
	MISCELLANEOUS	  	
	SECTION 5.01	  	NOTICES	  	11
	SECTION 5.02	  	BENEFIT OF AGREEMENT	  	12
	SECTION 5.03	  	NO WAIVERS; NON-EXCLUSIVE REMEDIES	  	12
	SECTION 5.04	  	EXPENSES; INDEMNIFICATION	  	12
	SECTION 5.05	  	ENFORCEMENT	  	13
	SECTION 5.06	  	AMENDMENTS AND WAIVERS	  	13
	SECTION 5.07	  	GOVERNING LAW; SUBMISSION TO JURISDICTION	  	13
	SECTION 5.08	  	LIMITATION OF LAW; SEVERABILITY	  	14
	SECTION 5.09	  	COUNTERPARTS; INTEGRATION; EFFECTIVENESS	  	15
	SECTION 5.10	  	WAIVER OF JURY TRIAL	  	15

  

 -i- 

					
	 	  	 	  	Page
	SECTION 5.11	  	ADDITIONAL GUARANTORS	  	15
	SECTION 5.12	  	TERMINATION; RELEASE OF GUARANTORS	  	15
	SECTION 5.13	  	CONFLICT	  	16

  

 -ii- 

 GUARANTY dated as of March 26, 2008 (as amended, restated, modified or
supplemented from time to time, this “Agreement”) among SBARRO HOLDINGS, LLC, a Delaware limited liability company (“Holdings”), the Subsidiary Guarantors from time to time party hereto (the “Subsidiary
Guarantors” and, together with Holdings, the “Guarantors”) and Natixis, New York Branch, as Administrative Agent for the benefit of the Credit Parties referred to herein. 
 Holdings and Sbarro, Inc., a New York corporation (the “Borrower”), propose to enter into a second lien credit agreement dated as of
March 26, 2009 (as amended, restated, modified, supplemented, restructured or refinanced from time to time, the “Credit Agreement”) among Holdings, the Borrower, the banks and other lending institutions from time to time party
thereto (each a “Lender” and, collectively, the “Lenders”), and Natixis, New York Branch, as Administrative Agent and Collateral Agent. Capitalized terms used but not defined herein shall have the meanings assigned
thereto in the Credit Agreement. 
 The Lenders, the Administrative Agent and the Collateral Agent and their respective successors and
assigns, are herein referred to individually as a “Credit Party” and collectively as the “Credit Parties”. 
 To induce the Credit Parties to enter into the Credit Agreement and the other Loan Documents referred to therein (collectively with the Credit Agreement, the “Loan Documents”), and as a condition precedent to the
obligations of the Credit Parties under the Credit Agreement, Holdings and each of the Subsidiaries of the Borrower which shall become parties hereto from time to time in accordance with Section 5.11 (each a “Subsidiary
Guarantor” and, collectively, the “Subsidiary Guarantors” and, together with Holdings, the “Guarantors”), have agreed, jointly and severally, to provide a guaranty of all obligations of Holdings, the
Borrower and the other Loan Parties under and in respect of the Loan Documents. Holdings, the Borrower and the Subsidiary Guarantors are referred to herein individually as a “Loan Party” and, collectively, as the “Loan
Parties”). As used herein, “Other Loan Parties” means, with respect to any Guarantor, any and all of the Loan Parties other than such Guarantor. 
 Holdings, and the Subsidiary Guarantors will receive not insubstantial benefits from the financial accommodation to be provided by the Credit Parties under the Loan Documents. Accordingly, the Guarantors hereby agree
with the Administrative Agent for the benefit of the Credit Parties as follows: 
 ARTICLE I 
 GUARANTY 
 Section 1.01
The Guaranty. Each Guarantor unconditionally guarantees, jointly with the other Guarantors, and severally, as a primary obligor and not merely as a surety: (x) the due and punctual payment of all Second Lien Credit Obligations of
the Borrower whether now or hereafter due, owing or incurred in any manner, whether actual or contingent, whether incurred solely or jointly with any other Person and whether as principal or surety (and including all liabilities in connection with
any notes, bills or other instruments accepted by any Credit Party in connection therewith), together in each case with all renewals, modifications, consolidations or extensions thereof, and (y) the due and punctual performance of all
covenants, agreements, 

 
obligations and liabilities of Holdings, the Borrower and the Other Loan Parties under or pursuant to the Loan Documents (all such monetary and other
obligations being herein collectively referred to as the “Guaranteed Obligations”). 
 Anything contained in this Agreement
to the contrary notwithstanding, the obligations of each Subsidiary Guarantor hereunder shall be limited to a maximum aggregate amount equal to the greatest amount that would not render such Subsidiary Guarantor’s obligations hereunder subject
to avoidance as a fraudulent transfer or conveyance under Section 548 of Title 11 of the United States Code or any provisions of applicable state law (collectively, the “Fraudulent Transfer Laws”), in each case after giving
effect to all other liabilities of such Subsidiary Guarantor, contingent or otherwise, that are relevant under the Fraudulent Transfer Laws (specifically excluding, however, any liabilities of such Subsidiary Guarantor (i) in respect of
intercompany indebtedness to the Borrower or any of its Affiliates to the extent that such indebtedness (A) would be discharged or would be subject to a right of set-off in an amount equal to the amount paid by such Subsidiary Guarantor
hereunder or (B) has been pledged to, and is enforceable by, the Collateral Agent on behalf of the Credit Parties and (ii) under any guaranty of Indebtedness subordinated in right of payment to the Guaranteed Obligations which guaranty
contains a limitation as to a maximum amount similar to that set forth in this paragraph pursuant to which the liability of such Subsidiary Guarantor hereunder is included in the liabilities taken into account in determining such maximum amount) and
after giving effect as assets of such Subsidiary Guarantor to the value (as determined under the applicable provisions of the Fraudulent Transfer Laws) of any rights to subrogation, contribution, reimbursement, indemnity or similar rights of such
Subsidiary Guarantor pursuant to (i) applicable Law or (ii) any agreement providing for an equitable allocation among such Subsidiary Guarantor and other Affiliates of the Borrower of obligations arising under guaranties by such parties
(including the agreements in Article II of this Agreement). If any Subsidiary Guarantor’s liability hereunder is limited pursuant to this paragraph to an amount that is less than the total amount of the Guaranteed Obligations, then it is
understood and agreed that the portion of the Guaranteed Obligations for which such Subsidiary Guarantor is liable hereunder shall be the last portion of the Guaranteed Obligations to be repaid. 
 Section 1.02 Guaranty Absolute. Each Guarantor guarantees that the Guaranteed Obligations will be paid strictly in accordance with the
terms of the Loan Documents, including the Intercreditor Agreement, regardless of any Law now or hereafter in effect in any jurisdiction affecting any of such terms or the rights of the Credit Parties with respect thereto. The obligations of the
Guarantors under this Agreement are independent of the Guaranteed Obligations, and a separate action or actions may be brought and prosecuted against each Guarantor to enforce this Agreement, irrespective of whether any action is brought against the
Borrower or any Other Loan Party or whether the Borrower or any Other Loan Party is joined in any such action or actions. This Agreement is an absolute and unconditional guaranty of payment when due, and not of collection, by each Guarantor, jointly
and severally with each other Guarantor of the Guaranteed Obligations in each and every particular. The obligations of each Guarantor hereunder are several from those of the Other Loan Parties and are primary obligations concerning which each
Guarantor is the principal obligor. The Credit Parties shall not be required to mitigate damages or take any action to reduce, collect or enforce the Guaranteed Obligations. 
 The obligations of each Guarantor hereunder shall not be subject to any reduction, limitation, impairment or termination for any reason, including the
existence of any claim, set-off 

  

 -2- 

 
or other right which any Guarantor may have at any time against any Other Loan Party, any Agent or other Credit Party or any other Person, whether in
connection herewith or any unrelated transactions. Without limiting the generality of the foregoing, each Guarantor’s liability shall extend to all amounts that constitute part of the Guaranteed Obligations and would be owed by any Other Loan
Party to any Credit Party under the Loan Documents but for the fact that they are unenforceable or not allowable due to the existence of a bankruptcy, reorganization or similar proceeding involving the Borrower or such Other Loan Party. 

Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be released, discharged or otherwise affected
or impaired by: 
 (i) any extension, renewal, settlement, compromise, acceleration, waiver or release in respect of any
obligation of any Other Loan Party under the Credit Agreement, the Notes, any other Loan Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation, by operation of Law or otherwise; 
 (ii) any change in the manner, place, time or terms of payment of any Guaranteed Obligation or any other amendment, supplement or
modification to the Credit Agreement, the Notes, any other Loan Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation; 
 (iii) any release, non-perfection or invalidity of any direct or indirect security for any Guaranteed Obligation, any sale, exchange,
surrender, realization upon, offset against or other action in respect of any direct or indirect security for any Guaranteed Obligation or any release of any Other Loan Party or any other guarantor or guarantors of any Guaranteed Obligation;

 (iv) any change in the existence, structure or ownership of any Other Loan Party or any insolvency, bankruptcy,
reorganization, arrangement, readjustment, composition, liquidation or other similar proceeding affecting any Other Loan Party or its assets or any resulting disallowance, release or discharge of all or any portion of any Guaranteed Obligation;

 (v) the existence of any claim, set-off or other right which any Guarantor may have at any time against any Other Loan
Party, any Agent, any other Credit Party or any other Person, whether in connection herewith or any unrelated transaction; provided that nothing herein shall prevent the assertion of any such claim by separate suit or compulsory counterclaim;

 (vi) any invalidity or unenforceability relating to or against any Other Loan Party for any reason of the Credit Agreement,
any Note, any other Loan Document or any other agreement or instrument evidencing or securing any Guaranteed Obligation or any provision of applicable Law purporting to prohibit the payment by any Other Loan Party of any Guaranteed Obligation;

 (vii) any failure by any Agent or any other Credit Party: (A) to file or enforce a claim against any Other Loan Party
or its estate (in a bankruptcy or other proceeding); (B) to give notice of the existence, creation or incurrence by any Other Loan 

  

 -3- 

 
Party of any new or additional indebtedness or obligation under or with respect to the Guaranteed Obligations; (C) to commence any action against any
Other Loan Party; (D) to disclose to any Guarantor any facts which such Agent or such other Credit Party may now or hereafter know with regard to any Other Loan Party; or (E) to proceed with due diligence in the collection, protection or
realization upon any collateral securing the Guaranteed Obligations; 
 (viii) any direction as to application of payment by
any other Loan Party or any other Person; 
 (ix) any subordination by any Credit Party of the payment of any Guaranteed
Obligation to the payment of any other liability (whether matured or unmatured) of any Other Loan Party to its creditors; 
 (x) any act or failure to act by the Administrative Agent, any other Credit Party under this Agreement or otherwise which may deprive any Guarantor of any right to subrogation, contribution or reimbursement against any Other Loan Party or
any right to recover full indemnity for any payments made by such Guarantor in respect of the Guaranteed Obligations; or 
 (xi) any other act or omission to act or delay of any kind any Other Loan Party, the Administrative Agent or any Credit Party or any other Person or any other circumstance whatsoever which might, but for the provisions of this clause,
constitute a legal or equitable discharge of any Guarantor’s obligations hereunder (except that a Guarantor may assert the defense of final payment in full of the Guaranteed Obligations). 
 Each Guarantor irrevocably and unconditionally has delivered this Agreement to the Administrative Agent for the benefit of the Credit Parties, and the
failure by any Other Loan Party or any other Person to sign this Agreement or a guaranty similar to this Agreement or otherwise shall not discharge the obligations of any Guarantor hereunder. The irrevocable and unconditional liability of each
Guarantor hereunder applies whether it is jointly and severally liable for the entire amount of the Guaranteed Obligations, or only for a pro-rata portion, and without regard to any rights (or the impairment thereof) of subrogation, contribution or
reimbursement that such Guarantor may now or hereafter have against any Other Loan Party or any other Person. This Agreement is and shall remain fully enforceable against each Guarantor irrespective of any defenses that any Other Loan Party may have
or assert in respect of the Guaranteed Obligations, including, without limitation, failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury, except that a Guarantor may
assert the defense of final payment in full of the Guaranteed Obligations. 
 Section 1.03 Payments. 
 (a) Payments to be Made Upon Default. If the Borrower or any Other Loan Party fails to pay or perform any Guaranteed Obligation when due in
accordance with its terms (whether at stated maturity, by acceleration or otherwise) or if any Event of Default specified in Section 8.01(f) of the Credit Agreement occurs with respect to the Borrower, the Guarantors shall, in accordance
with the terms of the Intercreditor Agreement and forthwith on demand of the Administrative Agent, pay the aggregate amount of all Guaranteed Obligations owed respectively to the Administrative Agent. 
  

 -4- 

 (b) General Provisions as to Payments. Each payment hereunder shall be made without
set-off, counterclaim or other deduction, in Federal or other funds immediately available in New York City, to the Administrative Agent at the addresses referred to in Section 5.01 (it being understood that a Guarantor may assert the
defense of final payment in full of the Guaranteed Obligations). 
 (c) Application of Payments. All payments received by the
Administrative Agent hereunder shall be applied as provided in Section 8.03 of the Credit Agreement. 
 Section 1.04
Discharge; Reinstatement in Certain Circumstances. Each Guarantor’s obligations hereunder shall remain in full force and effect until (i) the principal of and interest (including interest accruing on or after the commencement
of Insolvency or Liquidation Proceeding, whether or not a claim for such interest is, or would be, allowed in such Insolvency or Liquidation Proceeding) and premium, if any, on all Indebtedness outstanding under the Loan Documents and termination of
all commitments to lend or otherwise extend credit under the Loan Documents, (ii) payment in full of all other Second Lien Credit Obligations that are due and payable or otherwise accrued and owing at or prior to the time such principal and
interest are paid (including legal fees and other expenses, costs or charges accruing on or after the commencement of any Insolvency or Liquidation Proceeding, whether or not a claim for such fees, expenses, costs or charges is, or would be, allowed
in such Insolvency or Liquidation Proceeding but excluding contingent indemnification obligations), (the occurrence of all of the foregoing subclauses (i) and (ii) being referred to herein as “Discharge of Second Lien Credit
Obligations”) and (iii) such time as such Guarantor is no longer required to be a Guarantor under the Credit Agreement. No payment or payments made by the Borrower, any Other Loan Party or any other Person or received or collected by
any Credit Party from the Borrower, any Other Loan Party or any other Person by virtue of any action or proceeding or any set-off or appropriation or application at any time or from time to time in reduction of or in payment of the Guaranteed
Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder, it being understood that each Guarantor shall, notwithstanding any such payment or payments, remain liable for the Guaranteed
Obligations until Discharge of Second Lien Credit Obligations. If at any time any payment by the Borrower, any Other Loan Party or any other Person of any Guaranteed Obligation is rescinded or must otherwise be restored or returned upon the
insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or such Other Loan Party or other Person or upon or as a result of the appointment of a receiver, intervener or conservator of, or trustee or similar officer for, the
Borrower or such Other Loan Party or other Person or any substantial part of its respective property or otherwise, each Guarantor’s obligations hereunder with respect to such payment shall be reinstated as though such payment had been due but
not made at such time. Each Guarantor agrees that payment or performance of any of the Guaranteed Obligations or other acts which toll any statute of limitations applicable to the Guaranteed Obligations shall also toll the statute of limitations
applicable to each Guarantor’s liability hereunder. 
 Section 1.05 Waiver by the Guarantors. Each Guarantor hereby
waives, only to the extent permitted by applicable Law, presentment to, demand of payment from and 

  

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protest to the Other Loan Parties of any of the Guaranteed Obligations, and also waives to the extent permitted by applicable Law, promptness, diligence,
notice of acceptance of its guarantee, any other notice with respect to any of the Guaranteed Obligations and this Agreement and any requirement that any Agent or any other Credit Party protect, secure, perfect or insure any Lien or any property
subject thereto. Each Guarantor further waives to the extent permitted by applicable Law, any right to require that resort be had by any Agent or any other Credit Party to any security held for payment of the Guaranteed Obligations or to any balance
of any deposit, account or credit on the books of any Agent or any other Credit Party in favor of any Loan Party or any other Person. Each Guarantor hereby consents and agrees to each of the following to the fullest extent permitted by Law, and
agrees that such Guarantor’s obligations under this Agreement shall not be released, diminished, impaired, reduced or adversely affected by any of the following, and waives to the extent permitted by applicable Law, any rights (including rights
to notice) which such Guarantor might otherwise have as a result of or in connection with any of the following: 
 (i) any
renewal, extension, modification, increase, decrease, alteration or rearrangement of all or any part of the Guaranteed Obligations or any instrument executed in connection therewith, or any contract or understanding with any Other Loan Party, any
Agent, the other Credit Parties, or any of them, or any other Person, pertaining to the Guaranteed Obligations; 
 (ii) any
adjustment, indulgence, forbearance or compromise that might be granted or given by any Agent or any other Credit Party to any Other Loan Party or any other Person liable on the Guaranteed Obligations; or the failure of any Agent or any other Credit
Party to assert any claim or demand or to exercise any right or remedy against any Other Loan Party under the provisions of any Loan Document or otherwise; or any rescission, waiver, amendment or modification of, or any release from any of the terms
or provisions of, any Loan Document or any other agreement, including with respect to any Other Loan Party under this Agreement; 
 (iii) the insolvency, bankruptcy, arrangement, adjustment, composition, liquidation, disability, dissolution or lack of power of any Other Loan Party or any other Person at any time liable for the payment of all or part of the Guaranteed
Obligations; or any dissolution of any Other Loan Party, or any change, restructuring or termination of the corporate structure or existence of any Other Loan Party, or any sale, lease or transfer of any or all of the assets of any Other Loan Party,
or any change in the shareholders, partners, or members of any Other Loan Party; or any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; 
 (iv) the invalidity, illegality or unenforceability of all or any part of the Guaranteed Obligations, or any document or agreement
executed in connection with the Guaranteed Obligations, for any reason whatsoever, including the fact that the Guaranteed Obligations, or any part thereof, exceed the amount permitted by Law, the act of creating the Guaranteed Obligations or any
part thereof is ultra vires, the officers or representatives executing the documents or otherwise creating the Guaranteed Obligations acted in excess of their authority, the Guaranteed Obligations violate applicable usury Laws, any
Other Loan Party has valid defenses, claims or offsets (whether at Law, in equity 

  

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or by agreement) which render the Guaranteed Obligations wholly or partially uncollectible from such Other Loan Party, the creation, performance or repayment
of the Guaranteed Obligations (or the execution, delivery and performance of any document or instrument representing part of the Guaranteed Obligations or executed in connection with the Guaranteed Obligations or given to secure the repayment of the
Guaranteed Obligations) is illegal, uncollectible, legally impossible or unenforceable, or the documents or instruments pertaining to the Guaranteed Obligations have been forged or otherwise are irregular or not genuine or authentic; 
 (v) any full or partial release of the liability of any Other Loan Party or of any other Person now or hereafter liable, whether directly
or indirectly, jointly, severally, or jointly and severally, to pay, perform, guarantee or assure the payment of the Guaranteed Obligations or any part thereof, it being recognized, acknowledged and agreed by each Guarantor that such Guarantor may
be required to pay the Guaranteed Obligations in full without assistance or support of any other Person, and such Guarantor has not been induced to enter into this Agreement on the basis of a contemplation, belief, understanding or agreement that
any party other than the Borrower will be liable to perform the Guaranteed Obligations, or that the Credit Parties will look to any other party to perform the Guaranteed Obligations; 
 (vi) the taking or accepting of any other security, collateral or guarantee, or other assurance of payment, for all or any part of the
Guaranteed Obligations; 
 (vii) any release, surrender, exchange, subordination, deterioration, waste, loss or impairment
(including negligent, willful, unreasonable or unjustifiable impairment) of any collateral, property or security, at any time existing in connection with, or assuring or securing payment of, all or any part of the Guaranteed Obligations; 

(viii) any right that any Guarantor may now or hereafter have under Section 3-606 of the UCC or otherwise to unimpaired
collateral; 
 (ix) the failure of any Agent, any other Credit Party or any other Person to exercise diligence or reasonable
care in the preservation, protection, enforcement, sale or other handling or treatment of all or any part of such collateral, property or security; 
 (x) the fact that any collateral, security, security interest or lien contemplated or intended to be given, created or granted as security for the repayment of the Guaranteed Obligations shall not be properly
perfected or created, or shall prove to be unenforceable or subordinate to any other security interest or lien, it being recognized and agreed by each Guarantor that such Guarantor is not entering into this Agreement in reliance on, or in
contemplation of the benefits of, the validity, enforceability, collectibility or value of any of the Collateral; 
 (xi) any
payment by any Other Loan Party to the Administrative Agent, any other Agent or any other Credit Party being held to constitute a preference under Title 11 of the United States Code or any similar Federal, foreign or state Law, or for any reason any
Agent or any other Credit Party being required to refund such payment or pay such amount to any Other Loan Party or someone else; 
  

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 (xii) any other action taken or omitted to be taken with respect to the Guaranteed
Obligations, or the security and collateral therefor, whether or not such action or omission prejudices any Guarantor or increases the likelihood that any Guarantor will be required to pay the Guaranteed Obligations pursuant to the terms hereof, it
being the unambiguous and unequivocal intention of each Guarantor that such Guarantor shall be obligated to pay the Guaranteed Obligations when due, subject to the terms of the Intercreditor Agreement, notwithstanding any occurrence, circumstance,
event, action or omission whatsoever, whether or not contemplated, and whether or not otherwise or particularly described herein, except for the full payment and satisfaction of the Guaranteed Obligations in cash; 
 (xiii) the fact that all or any of the Guaranteed Obligations cease to exist by operation of Law, including by way of a discharge,
limitation or tolling thereof under applicable bankruptcy Laws; 
 (xiv) the existence of any claim, set-off or other right
which any Guarantor may have at any time against any Other Loan Party, the Administrative Agent, any other Credit Party or any other Person, whether in connection herewith or any unrelated transactions; provided that nothing herein shall
prevent the assertion of any such claim by separate suit or compulsory counterclaim; and 
 (xv) any other circumstance that
might in any manner or to any extent otherwise constitute a defense available to, vary the risk of, or operate as a discharge of, such Guarantor as a matter of Law or equity (it being understood that a Guarantor may assert the defense of final
payment in full of the Guaranteed Obligations). 
 All waivers herein contained shall be without prejudice to the right of the Administrative Agent at its
option to proceed against any Loan Party or any other Person, whether by separate action or by joinder. 
 Section 1.06
Agreement to Pay; Subordination of Subrogation Claims. In furtherance of the foregoing and not in limitation of any other right that the Administrative Agent, any other Agent or any other Credit Party has at Law or in equity against
any Guarantor by virtue hereof, upon the failure of any Other Loan Party to pay any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration, after notice of prepayment or otherwise, subject to the terms of
the Intercreditor Agreement, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent, such other Credit Party as designated thereby in cash the amount of such unpaid Guaranteed Obligations. Upon
payment by any Guarantor of any sums to the Administrative Agent or any Credit Party as provided above, all rights of such Guarantor against any Other Loan Party arising as a result thereof by way of right of subrogation, contribution,
reimbursement, indemnity or otherwise shall (including, without limitation, in the case of any Guarantor, any rights of such Guarantor arising under Article II of this Agreement) in all respects be subordinate and junior in right of payment
to the prior payment in full in cash of all the Guaranteed Obligations (other than contingent 

  

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indemnification obligations). No failure on the part of any Other Loan Party or any other Person to make any payments in respect of any subrogation,
contribution, reimbursement, indemnity or similar right (or any other payments required under applicable Law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor with respect to its obligations hereunder. If any
amount shall erroneously be paid to any Guarantor on account of such subrogation, contribution, reimbursement indemnity or similar right, such amount shall be held in trust, as applicable, for the benefit of the Credit Parties, and shall forthwith
be turned over, as applicable, to the Administrative Agent, in the exact form received by such Guarantor (duly endorsed by such Guarantor to the Administrative Agent, if required) to be credited against the payment of matured Guaranteed Obligations
in accordance with the terms of the Loan Documents, including the Intercreditor Agreement. 
 Section 1.07 Stay of
Acceleration. If acceleration of the time for payment of any amount payable by the Borrower under or with respect to the Guaranteed Obligations is stayed upon the insolvency or bankruptcy of the Borrower, all such amounts otherwise subject
to acceleration under the terms of the Credit Agreement, the Notes or any other agreement or instrument evidencing or securing the Guaranteed Obligations shall nonetheless be payable by the Guarantors hereunder, jointly and severally, forthwith on
demand by the Administrative Agent in the manner provided in Section 1.01 and subject to the terms of the Intercreditor Agreement. 
 Section 1.08 No Set-Off. No act or omission of any kind or at any time on the part of any Credit Party in respect of any matter whatsoever shall in any way affect or impair the rights of the Administrative Agent, any
other Credit Party to enforce any right, power or benefit under this Agreement, and no set-off, claim, reduction or diminution of any Guaranteed Obligation or any defense of any kind or nature which any Guarantor has or may have against the Borrower
or any Credit Party shall be available against the Administrative Agent or any other Credit Party in any suit or action brought by the Administrative Agent or any other Credit Party to enforce any right, power or benefit provided for by this
Agreement; provided that nothing herein shall prevent the assertion by any Guarantor of any such claim by separate suit or compulsory counterclaim. Nothing in this Agreement shall be construed as a waiver by any Guarantor of any rights or
claims which it may have against any Credit Party hereunder or otherwise, but any recovery upon such rights and claims shall be had from such Credit Party separately, it being the intent of this Agreement that each Guarantor shall be
unconditionally, absolutely and jointly and severally obligated to perform fully all its obligations, covenants and agreements hereunder for the benefit of each Credit Party. 
 ARTICLE II 
 INDEMNIFICATION, SUBROGATION AND CONTRIBUTION 
 Section 2.01 Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under
applicable Law (but subject to Section 1.06 above), the Borrower agrees that (i) in the event a payment shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full amount of such
payment and such Guarantor shall be subrogated to the rights of the person to whom such payment shall have been made to the extent of such payment and (ii) in the event any assets of any Guarantor shall be sold pursuant to any Collateral
Document to satisfy a claim of any Credit Party, the Borrower shall indemnify such Guarantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 
  

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 Section 2.02 Contribution and Subrogation. Each Subsidiary Guarantor (a
“Contributing Subsidiary Guarantor”) agrees (subject to Section 1.06 above) that, in the event a payment shall be made by any other Subsidiary Guarantor under this Agreement or assets of any other Subsidiary Guarantor
shall be sold pursuant to any Collateral Document to satisfy a claim of any Credit Party and such other Subsidiary Guarantor (the “Claiming Subsidiary Guarantor”) shall not have been fully indemnified by the Borrower as provided in
Section 2.01, the Contributing Subsidiary Guarantor shall indemnify the Claiming Subsidiary Guarantor in an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case
may be, in each case multiplied by a fraction the numerator of which shall be the net worth of the Contributing Subsidiary Guarantor on the date that the obligation(s) supporting such claim were incurred under this Agreement and the denominator of
which shall be the aggregate net worth of all the Subsidiary Guarantors on such date (or, in the case of any Subsidiary Guarantor becoming a party hereto pursuant to Section 5.11, the date of the Accession Agreement executed and
delivered by such Subsidiary Guarantor). Any Contributing Subsidiary Guarantor making any payment to a Claiming Subsidiary Guarantor pursuant to this Section 2.02 shall be subrogated to the rights of such Claiming Subsidiary Guarantor
under Section 2.01 to the extent of such payment. 
 ARTICLE III 
 REPRESENTATIONS, WARRANTIES AND COVENANTS 
 Section 3.01
Representations and Warranties; Certain Agreements. Each Guarantor hereby severally represents, warrants and covenants as follows: 
 (a) The representations and warranties contained in the Credit Agreement (with respect to the business, operations, assets, financial condition, liabilities or contracts of, or which otherwise pertain to, such
Guarantor (including to the extent such Guarantor is referred to as a Loan Party or Group Company in such representations and warranties)) are true and correct in all material respects. 
 (b) Such Guarantor agrees to comply with each of the covenants contained in the Credit Agreement that imposes or purports to impose,
through agreements with the Borrower, restrictions or obligations on such Guarantor. 
 (c) Such Guarantor acknowledges that
any default in the due observance or performance by such Guarantor of any covenant, condition or agreement contained herein may constitute an Event of Default under Section 8.01 of the Credit Agreement. 
 (d) There are no conditions precedent to the effectiveness of this Agreement that have not been satisfied or waived. 
 (e) Such Guarantor has, independently and without reliance upon the Administrative Agent or any other Credit Party and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Such Guarantor has investigated the benefits and advantages which will be 

  

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derived by it from execution of this Agreement, and the board of directors (or persons performing similar functions in case the Guarantor is not a
corporation) of such Guarantor has decided that a direct or an indirect benefit will accrue to such Guarantor by reason of the execution of this Agreement. 
 (f) (i) This Agreement is not given with actual intent to hinder, delay or defraud any Person to which such Guarantor is or will become, on or after the date hereof, indebted; (ii) such Guarantor has
received at least a reasonably equivalent value in exchange for the giving of this Agreement; (iii) such Guarantor is not insolvent on the date hereof and will not become insolvent as a result of the giving of this Agreement; (iv) such
Guarantor is not engaged in a business or transaction, nor is about to engage in a business or transaction, for which any property remaining with such Guarantor constitutes an unreasonably small amount of capital; and (v) such Guarantor does
not intend to incur debts that will be beyond such Guarantor’s ability to pay as such debts mature. 
 Section 3.02
Information. Each of the Guarantors assumes all responsibility for being and keeping itself informed of the financial condition and assets of the Other Loan Parties, and of all other circumstances bearing upon the risk of nonpayment of
the Guaranteed Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and agrees that none of the Administrative Agent, any other Agent or the other Credit Parties will have any duty to advise any
of the Guarantors of information known to it or any of them regarding such circumstances or risks. 
 Section 3.03 Subordination
by Guarantors. In addition to the terms of subordination provided for under Section 1.06, each Guarantor hereby subordinates in right of payment all indebtedness of the Other Loan Parties owing to it, whether originally
contracted with such Guarantor or acquired by such Guarantor by assignment, transfer or otherwise, whether now owed or hereafter arising, whether for principal, interest, fees, expenses or otherwise, together with all renewals, extensions, increases
or rearrangements thereof, to the prior payment in full in cash of the Second Lien Credit Obligations, whether now owed or hereafter arising, whether for principal, interest (including interest accruing during the pendency of any bankruptcy,
insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), fees, expenses or otherwise, together with all renewals, extensions, increases or rearrangements thereof. 
 ARTICLE IV 
 [INTENTIONALLY OMITTED]

 ARTICLE V 
 MISCELLANEOUS 
 Section 5.01 Notices. Unless otherwise expressly provided herein, all notices and other
communications provided for hereunder shall be in writing (including by facsimile transmission or electronic mail) and mailed, faxed or delivered, to the address, facsimile number or electronic mail address specified for notices: (i) in the
case of any Subsidiary Guarantor, as set forth on the signature pages hereto; (ii) in the case of Holdings, the Borrower, the Administrative Agent, or any Lender, as specified in or pursuant to Section 10.02 of the Credit Agreement;

  

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(iii) in the case of the Collateral Agent, as specified in or pursuant to Section 7.01 of the Security Agreement; or (iv) in the case of any
party, at such other address as shall be designated by such party in a notice to the Administrative Agent and each other party hereto. All such notices and other communications shall be deemed to be given or made upon the earlier to occur of:
(i) actual receipt by the intended recipient and (ii)(A) if delivered by hand or by courier, when signed for by the intended recipient; (B) if delivered by mail, four Business Days after deposit in the mails, postage prepaid; (C) if
delivered by facsimile transmission, when sent and receipt has been confirmed by telephone; and (D) if delivered by electronic mail, when delivered. Rejection or refusal to accept, or the inability to deliver because of a changed address of
which no notice was given, shall not affect the validity of notice given in accordance with this Section. 
 Section 5.02
Benefit of Agreement. This Agreement shall be binding upon and inure to the benefit of and be enforceable by the respective successors and assigns of the parties hereto; provided that none of the Guarantors may assign or
transfer any of its interests and obligations hereunder without prior written consent of the Required Lenders except in accordance with the Credit Agreement (and any such purported assignment or transfer without such consent shall be void);
provided further that the rights of each Lender to transfer, assign or grant participations in its rights and/or obligations hereunder shall be limited as set forth in Section 10.06 of the Credit Agreement. Upon the
assignment by any Credit Party of all or any portion of its rights and obligations under the Credit Agreement (including all or any portion of its Commitments and the Loans owing to it) or any other Loan Document to any other Person, such other
Person shall thereupon become vested with all the benefits in respect thereof granted to such transferor or assignor herein or otherwise. 
 Section 5.03 No Waivers; Non-Exclusive Remedies. No failure or delay on the part of any Agent or any Credit Party to exercise, no course of dealing with respect to, and no delay in exercising any right, power or
privilege under this Agreement or any other Loan Document or other document or agreement contemplated hereby or thereby shall operate as a waiver thereof nor shall any single or partial exercise of any such right, power or privilege preclude any
other or further exercise thereof or the exercise of any other right, power or privilege. The rights and remedies provided herein and in the other Loan Documents are cumulative and are not exclusive of any other rights or remedies provided by Law.

 Section 5.04 Expenses; Indemnification. 
 (a) Expenses. The Guarantors, jointly and severally, agree (i) to pay or reimburse the Administrative Agent for all reasonable out-of-pocket documented and invoiced costs and expenses
incurred in connection with the preparation, negotiation and execution of this Agreement and any amendment, waiver, consent or other modification of the provisions hereof, and the consummation of the transactions contemplated hereby, including all
fees, disbursements and other charges of counsel for the Administrative Agent; (ii) to pay or reimburse each Agent, any representative of one or more Swap Creditors (each a “Representative”), each other Credit Party for all
reasonable out-of-pocket costs and expenses incurred in connection with the enforcement, attempted enforcement or preservation of any rights and remedies under this Agreement (including all such costs and expenses incurred during any
“workout” or restructuring in respect of the Guaranteed Obligations and during any legal proceeding, including any proceeding under any bankruptcy or insolvency proceeding), including all fees and disbursements of counsel 

  

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(including the allocated charges of internal counsel); and (iii) to pay the Administrative Agent certain indemnifications, each as provided in
Section 10.04(b) of the Credit Agreement. The agreements in this Section 5.04(a) shall survive the termination of the Commitments and repayment of all Guaranteed Obligations. 
 (b) Contribution. If and to the extent that the obligations of any Guarantor under this Section 5.04 are unenforceable for any
reason, each other Guarantor, jointly and severally, hereby agrees to make the maximum contribution to the payment and satisfaction of such obligations as is plausible under applicable Law. 
 (c) Expenses. Notwithstanding anything to the contrary herein, the Loan Parties shall not be required to pay the fees and expenses of third
party advisors to the Administrative Agent or Collateral Agent (which shall not include counsel) retained without consent of the applicable Loan Party (such consent not to be unreasonably withheld or delayed) or more than one counsel (plus local and
special counsel). 
 Section 5.05 Enforcement. The Credit Parties agree that this Agreement may be enforced only by the
action of the Administrative Agent acting upon the instructions of the Required Lenders as set forth in the Credit Agreement and that no other Credit Party shall have any right individually to seek to enforce this Agreement, it being understood and
agreed that such rights and remedies may be exercised by the Administrative Agent, as the case may be, for the benefit of the Credit Parties upon the terms of this Agreement and the Credit Agreement. 
 Section 5.06 Amendments and Waivers. Any provision of this Agreement may be amended or waived if, but only if, such amendment or
waiver is in writing and is signed by each Guarantor directly affected by such amendment or waiver (it being understood that the addition or release of any Subsidiary Guarantor hereunder shall not constitute an amendment or waiver affecting any
Subsidiary Guarantor other than the Subsidiary Guarantor so added or released) and either at all times prior to the time at which all Second Lien Credit Obligations have been paid in full (other than contingent indemnification obligations), the
Administrative Agent (with the consent of the Required Lenders to the extent required by Section 10.01 of the Credit Agreement, or such other number of Lenders as may be specified therein); provided, however, that no such
amendment, change, discharge, termination or waiver shall be made to Section 1.03(c) hereof or this Section 5.06 without the consent of each Credit Party adversely affected thereby. 
 Section 5.07 Governing Law; Submission to Jurisdiction. 
 (a) Governing Law. THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW YORK (INCLUDING, WITHOUT LIMITATION, SECTION 5-1401 OF THE GENERAL OBLIGATIONS LAW OF THE STATE OF NEW YORK), WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
 (b) Submission to Jurisdiction. EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS 

  

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PROPERTY, TO THE NONEXCLUSIVE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY AND OF THE UNITED STATES DISTRICT COURT OF THE
SOUTHERN DISTRICT OF NEW YORK, AND ANY APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND
UNCONDITIONALLY AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO
AGREES THAT A FINAL JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. NOTHING IN THIS AGREEMENT OR IN ANY OTHER LOAN DOCUMENT
SHALL AFFECT ANY RIGHT THAT THE ADMINISTRATIVE AGENT MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AGAINST THE BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 
 (c) Waiver and Venue. EACH OF THE GUARANTORS IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH
IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF THE VENUE OF ANY SUCH PROCEEDING BROUGHT IN SUCH COURT AND ANY CLAIM THAT ANY SUCH PROCEEDING BROUGHT IN ANY SUCH COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 (d) Service of Process. EACH GUARANTOR HEREBY IRREVOCABLY CONSENTS AND AGREES THAT ANY AND ALL PROCESS WHICH MAY BE SERVED IN ANY SUIT, ACTION OR
PROCEEDING OF THE NATURE REFERRED TO IN THIS SECTION 5.07 MAY BE SERVED BY THE MAILING OF A COPY THEREOF BY REGISTERED OR CERTIFIED MAIL, POSTAGE PREPAID, RETURN RECEIPT REQUESTED, TO SUCH GUARANTOR’S ADDRESS REFERRED TO IN
SECTION 5.01, AS THE CASE MAY BE. EACH GUARANTOR AGREES THAT SUCH SERVICE (i) SHALL BE DEEMED IN EVERY RESPECT EFFECTIVE SERVICE OF PROCESS UPON IT IN ANY SUCH SUIT, ACTION OR PROCEEDING AND (ii) SHALL, TO THE FULLEST EXTENT
PERMITTED BY LAW, BE TAKEN AND HELD TO BE VALID PERSONAL SERVICE UPON AND PERSONAL DELIVERY TO IT. NOTHING IN THIS SECTION 5.07 SHALL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY MANNER PERMITTED BY LAW OR LIMIT THE RIGHT
OF ANY CREDIT PARTY TO BRING PROCEEDINGS AGAINST ANY GUARANTOR IN THE COURTS OF ANY JURISDICTION OR JURISDICTIONS. 
 Section 5.08
Limitation of Law; Severability. 
 (a) All rights, remedies and powers provided in this may be exercised only to the extent
that the exercise thereof does not violate any applicable provision of Law, and all of the provisions of this Agreement are intended to be subject to all applicable mandatory provisions 

  

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of Law which may be controlling and be limited to the extent necessary so that they will not render this Agreement invalid, unenforceable in whole or in
part, or not entitled to be recorded, registered or filed under the provisions of any applicable Law. 
 (b) If any provision hereof is
invalid or unenforceable in any jurisdiction, then, to the fullest extent permitted by Law, (i) the other provisions hereof shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Agents and
the other Credit Parties in order to carry out the intentions of the parties hereto as nearly as may be possible; and (ii) the invalidity or unenforceability of any provision hereof in any jurisdiction shall not affect the validity or
enforceability of such provisions in any other jurisdiction. 
 Section 5.09 Counterparts; Integration; Effectiveness.
This Agreement may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. This Agreement may be transmitted and/or signed by facsimile
or Adobe PDF file and if so transmitted or signed, shall, subject to requirements of Law, have the same force and effect as a manually signed original and shall be binding on the Guarantors, the Administrative Agent and the Borrower. The
Administrative Agent may also require that this Agreement be confirmed by a manually signed original hereof; provided, however, that the failure to request or deliver the same shall not limit the effectiveness of any facsimile document
or signature. This Agreement and the other Loan Documents constitute the entire agreement and understanding among the parties hereto and supersede any and all prior agreements and understandings, oral or written, relating to the subject matter
hereof and thereof. This Agreement shall become effective with respect to each Guarantor when the Administrative Agent shall have received counterparts hereof signed by itself and such Guarantor. 
 Section 5.10 WAIVER OF JURY TRIAL. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 5.11 Additional
Guarantors. It is understood and agreed that any Subsidiary of Holdings that is required by the Credit Agreement to execute an Accession Agreement and counterpart of this Guaranty after the date hereof shall automatically become a Guarantor
hereunder with the same force and effect as if originally named as a Guarantor hereunder by executing an Accession Agreement and counterpart hereof and delivering the same to the Administrative Agent. The execution and delivery of any such
instrument shall not require the consent of any other Guarantor or other parties hereunder. The rights and obligations of each Guarantor or other party hereunder shall remain in full force and effect notwithstanding the addition of any new Guarantor
as a party to this Agreement. 
 Section 5.12 Termination; Release of Guarantors. 
 (a) Termination. Upon Discharge of Second Lien Credit Obligations, this Agreement shall terminate and have no further force or effect.

  

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 (b) Release of Subsidiary Guarantors. In the event that all of the capital stock of one or
more of the Subsidiary Guarantors is sold or otherwise disposed of or liquidated in compliance with the requirements of Section 7.05 of the Credit Agreement (or such sale, other disposition or liquidation has been approved in writing by
the Required Lenders (or all of the Lenders, if required by Section 10.01 of the Credit Agreement), such Subsidiary Guarantor or Subsidiary Guarantors shall hereby be released from this Agreement, and this Agreement shall, as to each
such Subsidiary Guarantor or Subsidiary Guarantors, automatically terminate and have no further force or effect (it being understood and agreed that the sale of one or more Persons that own, directly or indirectly, all of the capital stock of any
Subsidiary Guarantor shall be deemed to be a sale of such Subsidiary Guarantor for purposes of this Section 5.12(b)). 
 Section 5.13 Conflict. To the extent that there is a conflict or inconsistency between any provision hereof, on the one hand, and any provision of the Credit Agreement, on the other hand, the Credit Agreement shall
control. 
 [Signature Pages Follow] 
  

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

									
	 GUARANTORS:
	 		 	SBARRO HOLDINGS, LLC,
as Holdings
					
		 		 		 	By:	 	MidOcean SBR Holdings, LLC, its Sole Member
					
		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 	Name:	 	Dan Montgomery
		 		 		 	Title:	 	Chief Financial Officer
				
		 		 		 	COREST MANAGEMENT, INC.
		 		 		 	DEMEFAC LEASING CORP.
		 		 		 	LARKFIELD EQUIPMENT CORP.
		 		 		 	MELVILLE ADVERTISING AGENCY, INC.
		 		 		 	SBARRO AMERICA, INC.
		 		 		 	SBARRO AMERICA PROPERTIES, INC.
		 		 		 	SBARRO COMMACK, INC.
		 		 		 	SBARRO NEW HYDE PARK, INC.
		 		 		 	SBARRO OF LAS VEGAS, INC.
		 		 		 	SBARRO OF VIRGINIA, INC.
		 		 		 	SBARRO PENNSYLVANIA, INC.
		 		 		 	SBARRO PROPERTIES, INC.
		 		 		 	SBARRO VENTURE, INC.
		 		 		 	SBARRO OF TEXAS, INC.
					
		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 	Name:	 	Dan Montgomery
		 		 		 	Title:	 	Chief Financial Officer

  

 S-1 

													
		 		 		 	SBARRO EXPRESS LLC
		 		 		 		 	CARMELA’S, LLC
		 		 		 		 	UMBERTO AT THE SOURCE, LLC
		 		 		 		 	UMBERTO WHITE PLAINS, LLC
						
		 		 		 		 	By:	 	Sbarro, Inc., Sole Member of each company listed above
						
		 		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 		 	Name:	 	Dan Montgomery
		 		 		 		 	Title:	 	Chief Financial Officer
					
		 		 		 		 	SBARRO BLUE BELL EXPRESS, LLC
						
		 		 		 		 	By:	 	Sbarro Express LLC, its Sole Member
							
		 		 		 		 		 	By:	 	Sbarro, Inc., its Sole Member
						
		 		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 		 	Name:	 	Dan Montgomery
		 		 		 		 	Title:	 	Chief Financial Officer
					
		 		 		 		 	UMBERTO HUNTINGTON, LLC
		 		 		 		 	UMBERTO DEER PARK, LLC
		 		 		 		 	UMBERTO HAUPPAUGE, LLC
		 		 		 		 	UMBERTO HICKSVILLE, LLC
		 		 		 		 	UMBERTO SYOSSET, LLC
		 		 		 		 	MAMA SBARRO’S OF EAST MEADOW, LLC
						
		 		 		 		 	By:	 	Sbarro New Hyde Park, Inc., Sole Member of each company listed above
						
		 		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 		 	Name:	 	Dan Montgomery
		 		 		 		 	Title:	 	Chief Financial Officer

  

 S-2 

									
		 		 		 	SBARRO OF LONGWOOD, LLC
CARMELA’S OF KIRKMAN, LLC
					
		 		 		 	By:	 	Carmela’s, LLC, Sole Member of each company listed above
					
		 		 		 	By:	 	Sbarro, Inc., its Sole Member
					
		 		 		 	By:	 	 /s/ Daniel G. Montgomery

		 		 		 	Name:	 	Dan Montgomery
		 		 		 	Title:	 	Chief Financial Officer
				
	Acknowledged and Agreed with Respect to Section 2.01:	 		 		 	
				
	SBARRO, INC.	 		 		 	
					
	By:	 	 /s/ Daniel G. Montgomery
	 		 		 	
	Name:	 	Dan Montgomery	 		 		 	
	Title:	 	Chief Financial Officer	 		 		 	
				
	Agreed to and Accepted:	 		 		 	
				
	NATIXIS, NEW YORK BRANCH
as Administrative Agent	 		 		 	
					
	By:	 	 /s/ Samantha X. Tang/Stacey Caruth
	 		 		 	
	Name:	 	Samantha X. Tang/Stacey Caruth	 		 		 	
	Title:	 	Associate Director/Associate Director	 		 		 	

  

 S-3

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