Document:

EX-10.4

 Exhibit 10.4 

THIRD AMENDMENT AND WAIVER TO LOAN AND SECURITY AGREEMENT 

THIS THIRD AMENDMENT AND WAIVER TO LOAN AND SECURITY AGREEMENT (this “Amendment”), dated as of August 15, 2013,
is entered into by and among AMEDICA CORPORATION, a Delaware corporation (“Borrower”), US SPINE, INC., a Delaware corporation (“Guarantor”), the Lenders (as defined below) and GENERAL ELECTRIC
CAPITAL CORPORATION, a Delaware corporation (“GECC”), in its capacity as administrative and collateral agent (together with its successors and assigns in such capacity, the “Agent”) for the Lenders (as defined
below). 
 W I T N E S S E T H: 

WHEREAS, Borrower, Guarantor, Agent, and the lenders signatory thereto from time to time (each a “Lender” and,
collectively, the “Lenders”), are parties to that certain Loan and Security Agreement, dated as of December 17, 2012 (as has been and may be amended, restated, supplemented, replaced, and otherwise modified from time to time,
the “Loan Agreement”; capitalized terms used herein have the meanings given to them in the Loan Agreement except as otherwise expressly defined herein), pursuant to which Lenders and Agent have agreed to provide to Borrower certain
loans in accordance with the terms and conditions thereof; and 
 WHEREAS, Borrower, Lenders, and Agent desire to amend, and provide
a consent and limited waiver for, certain provisions of the Loan Agreement as provided herein; 
 NOW, THEREFORE, in consideration of
the premises, the covenants and agreements contained herein, and other good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, Borrower, Lenders and Agent hereby agree as follows: 

1 AMENDMENTS TO LOAN AGREEMENT. Subject to the terms and conditions of this Amendment, including, without limitation, Section 5 of this
Amendment, the Loan Agreement is hereby amended as follows: 
 (a) Section 2.4 (b)(i) is hereby amended by amending and
restating subsection (b)(i) thereof to read as follows: 
 “(i) Term Loan. For the Term Loan, Borrower shall pay
principal to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, in thirty-four (34) (the “Number of Payments”) equal consecutive payments of $529,411 (the “Monthly Amortization Amount”) on
September 1, 2013 (the “Initial Principal Payment Date”) and thereafter on each Scheduled Payment Date, and one final payment in an amount equal to the entire remaining principal balance of the Term Loan on the Final Maturity Date;
provided, however, if a Liquidity Event has occurred and Borrower delivers a written request to Agent requesting an extension of the Initial Principal Payment Date, each on or before August 30, 2013, then, provided no Default or Event of
Default shall have occurred and be continuing on the Initial Principal Payment Date, the “Number of Payments” shall be reduced to thirty (30), the “Monthly Amortization Amount” shall be increased to $600,000 and, the
“Initial Principal Payment Date” shall be extended to January 1, 2014.” 

 (b) Section 6.12 is hereby amended and restated to read as follows: 

“6.12 Liquidity Event. Borrower shall have received the Liquidity Event proceeds on or before August 30,
2013.” 
 (c) The following definition in Section 11 is hereby amended and restated to read as follows: 

“Liquidity Event” means Borrower’s receipt of at least $10,000,000 in gross cash proceeds (which results
in at least $9,500,000 in unrestricted net cash proceeds) after the Closing Date and on or before August 30, 2013 from a new licensing agreement (not prohibited under this Agreement) from an unaffiliated third party, or from the sale and
issuance of Borrower’s preferred or common Stock or the cash exercise of warrants for Borrower’s preferred Stock, which Stock issuance or exercise shall be on terms and conditions reasonably satisfactory to Agent.” 

2 WAIVER. Borrower is in default under the Loan Agreement because of Borrower’s failure to comply with Section 7.10(b) of
the Loan Agreement (the “Third Amendment Default”). Subject to the terms and conditions of this Amendment, including, without limitation, Section 5 of this Amendment, Agent and the Lenders hereby waive the Third
Amendment Default for the period from June 30, 2013 until August 30, 2013. Such waiver shall cease to be effective as of August 31, 2013 and thereafter, during which Borrower shall be required to comply with
Section 7.10(b) of the Loan Agreement. 
 3 RESERVE. On the date hereof, Agent shall establish a Reserve pursuant to
Section 2.1(b) of the Loan Agreement, in the amount of $500,000, which shall remain in place until removed by Agent in is Permitted Discretion. 

4 AMENDMENT FEE. On the date hereof, Borrower shall pay to Agent, for the benefit of Lenders in accordance with their Pro Rata Shares, an
amendment fee in an amount equal to $215,000 (provided that such fee shall be $107,500 if Borrower complies with Section 6.12 of the Loan Agreement on or before August 30, 2013) (“Third Amendment Fee”), which fee shall be
fully earned on the date hereof, and payable on the earlier of (i) five (5) days after Borrower’s receipt of any proceeds from a public offering of its Stock, and (ii) the date upon which the outstanding principal amount of the
Term Loan is repaid in full, or if earlier, is required to be paid in full. 
 5 CONDITIONS TO EFFECTIVENESS. This Amendment shall become
effective upon satisfaction of each of the following conditions: 
 (a) No Default or Event of Default (other than the Third Amendment
Default) shall have occurred and be continuing; 
 (b) Agent shall have received one or more counterparts of this Amendment, duly executed,
completed and delivered by Agent, each Lender and each Loan Party; and 
 (c) Agent shall have received all other documents and instruments
as Agent or any Lender may reasonably deem necessary or appropriate to effectuate the intent and purpose of this Amendment. 

 6 REAFFIRMATION OF LOAN DOCUMENTS. By executing and delivering this Amendment, each Loan Party
hereby (i) reaffirms, ratifies and confirms its Obligations under the Loan Agreement and the other Loan Documents, (ii) agrees that this Amendment shall be a “Loan Document” under the Loan Agreement and (iii) hereby
expressly agrees that the Loan Agreement and each other Loan Document shall remain in full force and effect following any action contemplated in connection herewith. 

7 REAFFIRMATION OF GRANT OF SECURITY INTEREST IN COLLATERAL. Each Loan Party hereby expressly reaffirms, ratifies and confirms its obligations
under the Loan Agreement, including its grant, pledge and hypothecation to the Agent for the benefit of the Agent and each Lender, of the lien on and security interest in, all of its right, title and interest in, all of the Collateral. 

8 NO OTHER CONSENTS OR AMENDMENTS. Except for the amendment, consent and waiver set forth in Sections 1, 2 and 3 of this
Amendment, the Loan Agreement and the other Loan Documents shall remain unchanged and in full force and effect. Nothing in this Amendment is intended, or shall be construed, to constitute a novation or an accord and satisfaction of any Loan
Party’s Obligations under or in connection with the Loan Agreement and any other Loan Document or to modify, affect or impair the perfection or continuity of Agent’s security interest in, (on behalf of itself and Lenders) security titles
to or other liens on any Collateral for the Obligations. 
 9 REPRESENTATIONS AND WARRANTIES; LIENS; NO DEFAULT, NO CONFLICT. Each Loan Party
hereby represents, warrants and covenants with and to the Agent and Lenders as follows: (i) all of the representations and warranties set forth in the Loan Documents continue to be true and correct as of the date hereof, except to the extent
such representations and warranties by their terms expressly relate only to a prior date (in which case such representations and warranties shall be true and correct as of such prior date); (ii) there are no Defaults or Events of Default that
have not been waived or cured; (iii) Agent has and shall continue to have valid, enforceable and perfected first-priority liens, subject only to Permitted Liens, on and security interests in the Collateral and all other collateral heretofore
granted by each Loan Party to Agent, for the benefit of the Agent and each Lender, pursuant to the Loan Documents or otherwise granted to or held by Agent, for the benefit of the Agent and each Lender, (iv) the agreements and obligations of
Loan Parties contained in the Loan Documents and in this Amendment constitute the legal, valid and binding obligations of the Loan Parties party thereto, enforceable against each such Loan Party in accordance with their respective terms, except as
the enforceability thereof may be limited by bankruptcy, insolvency or other similar laws of general application affecting the enforcement of creditors’ rights or by the application of general principles of equity, and (v) the execution,
delivery and performance of this Amendment by each Loan Party will not violate any law, rule, regulation or order or contractual obligation or organizational document of such Loan Party and will not result in, or require, the creation or imposition
of any lien, claim or encumbrance of any kind on any of its properties or revenues. 

  
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 10 ADVICE OF COUNSEL. Each of the parties represents to each other party hereto that it has
discussed this Amendment with its counsel. 
 11 SEVERABILITY OF PROVISIONS. In case any provision of or obligation under this Amendment shall
be invalid, illegal or unenforceable in any applicable jurisdiction, the validity, legality and enforceability of the remaining provisions or obligations, or of such provision or obligation in any other jurisdiction, shall not in any way be affected
or impaired thereby. 
 12 FURTHER ASSURANCES. Each Loan Party agrees that at any time and from time to time, at the expense of each Loan
Party, it will promptly execute and deliver all further instruments and documents, and take all further action, that may be necessary or that Agent or Lenders may reasonably request, in connection with this Amendment, or to enable them to exercise
and enforce their rights and remedies under this Amendment, the Loan Agreement and the other Loan Documents. 
 13 COSTS AND EXPENSES. Each
Loan Party shall be responsible for the payment of all fees, costs and expenses incurred by Agent and Lenders in connection with the preparation and negotiation of this Amendment, including, without limitation, any and all fees and expenses of
Agent’s and Lenders’ counsel. 
 14 REFERENCE TO THE EFFECT ON THE LOAN AGREEMENT. 

(a) Upon the effectiveness of this Amendment, each reference in the Loan Agreement to “this Agreement,” “hereunder,”
“hereof,” “herein” or words of similar import shall mean and be a reference to the Loan Agreement as modified by this Amendment. 

(b) The execution, delivery and effectiveness of this Amendment shall not, except as expressly provided in this Amendment, operate as a waiver
of any right, power or remedy of Agent or any Lender, nor constitute a waiver of any provision of the Loan Agreement or any other documents, instruments and agreements executed or delivered in connection with the Loan Agreement. 

15 ACKNOWLEDGMENT OF EACH LOAN PARTY. Each Loan Party hereby acknowledges and agrees that: (i) it has no defense, offset or counterclaim
with respect to the payment of any sum owed to Agent or Lenders, or with respect to the performance or observance of any warranty or covenant contained in the Loan Documents; and (ii) Agent and Lenders have performed all obligations and duties
owed to each Loan Party through the date hereof. 
 16 GOVERNING LAW. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH,
THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND PERFORMED IN SUCH STATE WITHOUT REGARD TO THE PRINCIPLES THEREOF REGARDING CONFLICTS OF LAWS. 

17 HEADINGS. Section headings in this Amendment are included for convenience of reference only and shall not constitute a part of this Amendment
for any other purpose. 
 18 ENTIRE AGREEMENT. The Loan Agreement and the other Loan Documents as and when amended through this Amendment
embody the entire agreement between the parties hereto relating to the subject matter thereof and supersede all prior agreements, representations and understandings, if any, relating to the subject matter thereof. 

  
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 19 COUNTERPARTS. This Amendment may be executed in multiple counterparts, each of which shall be
deemed to be an original and all of which when taken together shall constitute one and the same instrument. Delivery of an executed signature page of this Amendment by facsimile transmission, portable document format (.pdf), or other electronic
transmission shall be as effective as delivery of a manually executed counterpart hereof. 
 [Remainder of page intentionally blank;
signature pages follow.] 

  
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 IN WITNESS WHEREOF, the parties hereto have caused this Third Amendment and Waiver
to Loan and Security Agreement to be duly executed and delivered as of the day and year specified at the beginning hereof. 
  

			
	 BORROWER:

	
	 AMEDICA CORPORATION

		
	By:	 	 /s/ W. K. Farnsworth

	Name:	 	 W. Karl Farnsworth

	Title:	 	 CFO

	
	 GUARANTOR:

	
	 US SPINE, INC.

		
	By:	 	 /s/ W. K. Farnsworth

	Name:	 	 W. Karl Farnsworth

	Title:	 	 CFO

	
	 AGENT AND LENDER:

	
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent and Lender

		
	By:	 	 /s/ Scott R. Towers

	Name:	 	 Scott R. Towers

	Title:	 	 Duly Authorized Signatory

	
	 LENDER:

	
	 ZIONS FIRST NATIONAL BANK

		
	By:	 	 /s/ Thomas C. Etzel

	Name:	 	 Thomas C. Etzel

	Title:	 	 Senior Vice PresidentEX-10.5

 Exhibit 10.5 

PLEDGE AGREEMENT 

This PLEDGE AGREEMENT, dated as of December 17, 2012 (together with all amendments, if any, from time to time hereto, this
“Pledge Agreement”), by and between AMEDICA CORPORATION, a Delaware corporation (“Borrower” and together with any other Person that joins this Pledge Agreement as a Pledgor in accordance with Section 27,
collectively, the “Pledgors” and each a “Pledgor”) and GENERAL ELECTRIC CAPITAL CORPORATION, a Delaware corporation, in its capacity as agent (in such capacity and together with any successors, endorsees and
assigns, “Agent”) for itself and the lenders from time to time party to the Loan Agreement hereinafter defined (collectively, the “Lenders”). 

W I T N E S S E T H: 

WHEREAS, pursuant to that certain Loan and Security Agreement, dated as of the date hereof, by and among Borrower, US Spine, Inc.
(“Guarantor”), the other Loan Parties from time to time signatory thereto, Agent and the Lenders from time to time party thereto (including all annexes, exhibits and schedules thereto, as from time to time amended, restated,
supplemented or otherwise modified, the “Loan Agreement”), the Lenders have agreed to make Revolving Loans and a Term Loan to Borrower on the terms and conditions set forth in the Loan Agreement; 

WHEREAS, in order to induce Agent and the Lenders to enter into the Loan Agreement and other Loan Documents and to induce the Lenders to make
the Revolving Loan and Term Loan (collectively, “Loans”) provided for in the Loan Agreement, each Pledgor has agreed to pledge the Pledged Collateral to Agent, on behalf of itself and the Lenders, in accordance herewith; 

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Definitions. Unless otherwise
defined herein, terms defined in the Loan Agreement are used herein as therein defined, and the following shall have (unless otherwise provided elsewhere in this Pledge Agreement) the following respective meanings (such meanings being equally
applicable to both the singular and plural form of the terms defined): 
 “Bankruptcy Code” means title 11, United States
Code, as amended from time to time, and any successor statute thereto. 
 “Pledge Agreement” has the meaning set forth in
the preamble hereto. 
 “Pledged Collateral” has the meaning assigned to such term in Section 2 hereof. 

“Pledged Entity” means an issuer of Pledged Shares or Pledged Indebtedness. 

“Pledged Indebtedness” means the Indebtedness evidenced by promissory notes and instruments listed on Schedule I
hereto. 
 “Pledged Shares” means those shares listed on Schedule I. 

“Secured Obligations” has the meaning assigned to such term in Section 3 hereof. 

 2. Pledge. Each Pledgor hereby pledges to Agent, on behalf of itself and the Lenders, and
grants to Agent, on behalf of itself and the Lenders, a first priority security interest in all of the following of such Pledgor, whether now existing or hereafter arising or acquired (collectively, the “Pledged Collateral”): 

(a) the Pledged Shares and all documents and certificates representing or evidencing the Pledged Shares, all rights,
privileges, authority and powers of Pledgor as owner or holder of the Pledged Shares (including rights arising under the bylaws, articles and similar organizational documents) and all dividends, distributions, cash, instruments and other property or
proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of the Pledged Shares and all rights to receive payment of principal and interest on loans made by Pledgor to Pledged Entity and all
books, records and documents pertaining to the foregoing; 
 (b) such portion, as determined by Agent as provided in
Section 7(d) below, of any additional shares of Stock of a Pledged Entity from time to time acquired by Pledgor in any manner (which shares shall be deemed to be part of the Pledged Shares), and the certificates representing such
additional shares, and all dividends, distributions, cash, instruments and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such Stock; 

(c) the Pledged Indebtedness and the promissory notes or instruments evidencing the Pledged Indebtedness, and all interest,
cash, instruments and other property and assets from time to time received, receivable or otherwise distributed in respect of the Pledged Indebtedness; and 

(d) all additional Indebtedness arising after the date hereof and owing to Pledgor and evidenced by promissory notes or other
instruments, together with such promissory notes and instruments, and all interest, cash, instruments and other property and assets from time to time received, receivable or otherwise distributed in respect of that Indebtedness. 

3. Security for Obligations. This Pledge Agreement secures, and the Pledged Collateral is security for, the prompt payment in full when
due, whether at stated maturity, by acceleration or otherwise, and performance of all Obligations of any kind of each Loan Party under or in connection with the Loan Agreement and the other Loan Documents (other than the Warrants) and all
Obligations of each Pledgor now or hereafter existing under this Pledge Agreement including, without limitation, all reasonable fees, costs and expenses of Agent and Lenders in connection with collection actions hereunder or otherwise (collectively,
the “Secured Obligations”). 
 4. Delivery of Pledged Collateral. All certificates and all promissory notes and
instruments evidencing the Pledged Collateral shall be delivered to and held by or on behalf of Agent, pursuant hereto. All Pledged Shares shall be accompanied by duly executed instruments of transfer or assignment in blank, all in form and
substance satisfactory to Agent and all promissory notes or other instruments evidencing the Pledged Indebtedness shall be endorsed by the applicable Pledgor. 

5. Control Agreement with Issuer. If any Pledged Collateral constitutes uncertificated ownership interests, each Pledgor shall cause
each Pledged Entity to duly authorize, execute, and deliver to the Agent on the date hereof an agreement for the benefit of Agent (on behalf of the Lenders) substantially in the form of Exhibit B (appropriately completed to the satisfaction
of Agent and with such modifications, if any, as shall be satisfactory to Agent) pursuant to which each Pledged Entity agrees to comply with any and all instructions regarding the Pledged Shares originated by Agent without further consent by any
Pledgor and not to comply with instructions regarding the Pledged Shares originated by any other Person. 

  
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 6. Representations and Warranties. Each Pledgor represents and warrants to Agent that:

 (a) Such Pledgor is, and at the time of delivery of the Pledged Shares to Agent will be, the holder of record and the sole
beneficial owner of the Pledged Collateral pledged by such Pledgor free and clear of any Lien, voting trust agreements or other pledges thereon or affecting the title thereto, except for any Lien created by this Pledge Agreement; such Pledgor is and
at the time of delivery of the Pledged Indebtedness to Agent will be, the sole owner of such Pledged Collateral free and clear of any Lien thereon or affecting title thereto, except for any Lien created by this Pledge Agreement; 

(b) All of the Pledged Shares have been duly authorized, validly issued and are fully paid and non-assessable; the Pledged
Indebtedness has been duly authorized, authenticated or issued and delivered by the obligor and is the legal, valid and binding obligations of the obligor under such Pledged Indebtedness, and neither the obligor nor Pledgor (or other Loan Party) is
in default thereunder; provided that with respect to the Pledged Indebtedness where the obligor thereof is not a Loan Party, Pledgor’s representations and warranties in this clause (b) shall be limited to Pledgor’s Knowledge; 

(c) Such Pledgor has the right and requisite authority to pledge, assign, transfer, deliver, deposit and set over the Pledged
Collateral pledged by such Pledgor to Agent, on behalf of itself and the Lenders, as provided herein; 
 (d) None of the
Pledged Shares or Pledged Indebtedness has been issued or transferred in violation of the securities registration, securities disclosure or similar laws of any jurisdiction to which such issuance or transfer may be subject; 

(e) All of the Pledged Shares are presently owned by such Pledgor and are presently represented by the certificates listed on
Schedule I hereto. As of the date hereof, there are no existing options, warrants, calls or commitments of any character whatsoever relating to the Pledged Shares; 

(f) No consent, approval, authorization or other order or other action by, and, other than the filing of UCC financing
statements, no notice to or filing with, any Governmental Authority or any other Person is required (i) for the pledge by such Pledgor of the Pledged Collateral pursuant to this Pledge Agreement or for the execution, delivery or performance of
this Pledge Agreement by such Pledgor, or (ii) for the exercise by Agent of the voting or other rights provided for in this Pledge Agreement or the remedies in respect of the Pledged Collateral pursuant to this Pledge Agreement, except as may
be required in connection with such disposition by laws affecting the offering and sale of securities generally; 
 (g) The
pledge, assignment and delivery of the Pledged Collateral pursuant to this Pledge Agreement will create a valid first priority Lien on and a first priority perfected security interest in favor of Agent, on behalf of itself and the Lenders, on the
Pledged Collateral and the proceeds thereof, securing the payment of the Secured Obligations, subject to no other Lien; 

  
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 (h) This Pledge Agreement has been duly authorized, executed and delivered by
Pledgor and constitutes a legal, valid and binding obligation of Pledgor enforceable against Pledgor in accordance with its terms; 

(i) The Pledged Shares constitute the percentage of the issued and outstanding shares of Stock of each Pledged Entity as set
forth in Schedule I; 
 (j) No action has been commenced or threatened in writing that would reasonably be expected to
prohibit or interfere with the execution and delivery of this Pledge Agreement or the performance or discharge of the obligations, duties, covenants, agreements and liabilities contained herein; and 

(k) None of the Pledged Indebtedness is subordinated in right of payment to other Indebtedness (except for the Secured
Obligations, if applicable) or subject to the terms of an indenture. 
 The representations and warranties set forth in this
Section 6 shall survive the execution and delivery of this Pledge Agreement. 
 7. Covenants. Each Pledgor covenants and
agrees that until the Termination Date (which covenants are in addition to and not in lieu of other applicable provisions of the Loan Agreement): 

(a) Without the prior written consent of Agent, such Pledgor will not sell, assign, transfer, pledge, or otherwise encumber any
of its rights in or to the Pledged Collateral, or any unpaid dividends, interest or other distributions or payments with respect to the Pledged Collateral or grant a Lien in the Pledged Collateral, unless otherwise expressly permitted by the Loan
Agreement; 
 (b) Such Pledgor will, at its expense, promptly execute, acknowledge and deliver all such instruments and take
all such actions as Agent from time to time may reasonably request in order to ensure to Agent the benefits of the Liens in and to the Pledged Collateral intended to be created by this Pledge Agreement, including the filing of any necessary UCC
financing statements, which may be filed by Agent with or (to the extent permitted by law) without the signature of such Pledgor, and will cooperate with Agent, at such Pledgor’s expense, in obtaining all necessary approvals and making all
necessary filings under federal, state, local or foreign law in connection with such Liens or any sale or transfer of the Pledged Collateral; 

(c) Such Pledgor has and will defend the title to the Pledged Collateral and the Liens of Agent in the Pledged Collateral
against the claim of any Person and will maintain and preserve such Liens and will do or cause to be done all things reasonably necessary to preserve and to keep in full force and effect its interest in the Pledged Collateral; 

(d) Such Pledgor will, upon obtaining ownership of any additional Stock, promissory notes or instruments of a Pledged Entity or
Stock or promissory notes or instruments otherwise required to be pledged to Agent pursuant to any of the Loan Documents, which Stock, notes or instruments are not already Pledged Collateral, promptly (and in any event within three (3) Business
Days) deliver to Agent a Pledge Amendment, duly executed by Pledgor, in substantially the form of Exhibit A hereto (a “Pledge Amendment”) in respect of any such additional Stock, notes or instruments, pursuant to which
Pledgor shall pledge to Agent, on behalf of itself and the Lenders, all of such additional Stock, notes and instruments. Pledgor hereby authorizes Agent to attach each Pledge Amendment to this Pledge Agreement and agrees that all Pledged Shares and
Pledged Indebtedness listed on any Pledge Amendment delivered to Agent shall for all purposes hereunder be considered Pledged Collateral; 

  
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 (e) Such Pledgor shall cooperate in all reasonable respects with Agent’s
efforts to preserve the Pledged Collateral and to take such actions to preserve the Pledged Collateral as Agent may in good faith direct; and 

(f) Such Pledgor consents to the admission of Agent, and its assigns or designees, as a member, partner or stockholder of the
Pledged Entity upon Agent’s acquisition of any of the Pledged Shares. 
 8. Pledgor’s Rights. As long as no Event of
Default shall have occurred and be continuing and until written notice shall be given to the Pledgors in accordance with Section 9(a) hereof: 

(a) Each Pledgor shall have the right, from time to time, to vote and give consents with respect to the Pledged Collateral, or
any part thereof for all purposes not inconsistent with the provisions of this Pledge Agreement, the Loan Agreement or any other Loan Document; provided, however, that no vote shall be cast, and no consent shall be given or action
taken, which would have the effect of impairing the position or interest of Agent in respect of the Pledged Collateral or which would authorize, effect or consent to (unless and to the extent expressly permitted by the Loan Agreement) any of the
following: 
 (i) the dissolution or liquidation, in whole or in part, of a Pledged Entity; 

(ii) the consolidation or merger of a Pledged Entity with any other Person; 

(iii) the sale, disposition or encumbrance of all or substantially all of the assets of a Pledged Entity, except for the
granting of Liens in favor of Agent; 
 (iv) any change in the authorized number of shares, the stated capital or the
authorized share capital of a Pledged Entity or the issuance of any additional shares of its Stock; or 
 (v) the alteration
of the voting rights with respect to the Stock of a Pledged Entity; 
 (b) each Pledgor shall be entitled, from time to time,
to collect and receive for its own use all cash dividends and interest paid in respect of the Pledged Shares and Pledged Indebtedness to the extent not in violation of the Loan Agreement other than any and all: (A) dividends and interest
paid or payable other than in cash in respect of any Pledged Collateral, and instruments and other property received, receivable or otherwise distributed in respect of, or in exchange for, any Pledged Collateral; (B) dividends and other
distributions paid or payable in cash in respect of any Pledged Shares in connection with a partial or total liquidation or dissolution or in connection with a reduction of capital, capital surplus or paid-in capital of a Pledged Entity; and
(C) cash paid, payable or otherwise distributed, in respect of principal of, or in redemption of, or in exchange for, any Pledged Collateral; provided, however, that until actually paid all rights to such distributions shall
remain subject to the Lien created by this Pledge Agreement; and 
 (c) all dividends and interest (other than such cash
dividends and interest as are permitted to be paid to each Pledgor in accordance with clause (b) above) and all other distributions in respect of any of the Pledged Shares or Pledged Indebtedness, whenever paid or made, shall be
delivered to Agent to hold as Pledged Collateral and shall, if received by such Pledgor, be received in trust for the benefit of Agent, be segregated from the other property or funds of such Pledgor, and be forthwith delivered to Agent as Pledged
Collateral in the same form as so received (with any necessary indorsement). 

  
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 9. Defaults and Remedies; Proxy. 

(a) Upon the occurrence of an Event of Default and during the continuation of such Event of Default, and with written notice to
Borrower, Agent (personally or through an agent) is hereby authorized and empowered to transfer and register in its name or in the name of its nominee the whole or any part of the Pledged Collateral, to exchange certificates or instruments
representing or evidencing Pledged Collateral for certificates or instruments of smaller or larger denominations, to exercise the voting and all other rights as a holder with respect thereto, to collect and receive all cash dividends, interest,
principal and other distributions made thereon, to sell in one or more sales after ten (10) days’ notice of the time and place of any public sale or of the time at which a private sale is to take place (which notice each Pledgor agrees is
commercially reasonable) the whole or any part of the Pledged Collateral and to otherwise act with respect to the Pledged Collateral as though Agent was the outright owner thereof. Any sale shall be made at a public or private sale at Agent’s
place of business, or at any place to be named in the notice of sale, either for cash or upon credit or for future delivery at such price as Agent may deem fair, and Agent may be the purchaser of the whole or any part of the Pledged Collateral so
sold and hold the same thereafter in its own right free from any claim of any Pledgor or any right of redemption. Each sale shall be made to the highest bidder, but Agent reserves the right to reject any and all bids at such sale which, in its
discretion, it shall deem inadequate. Demands of performance, except as otherwise herein specifically provided for, notices of sale, advertisements and the presence of property at sale are hereby waived and any sale hereunder may be conducted by an
auctioneer or any officer or agent of Agent. EFFECTIVE UPON AN EVENT OF DEFAULT THAT REMAINS CONTINUING EACH PLEDGOR HEREBY IRREVOCABLY CONSTITUTES AND APPOINTS AGENT AS THE PROXY AND ATTORNEY-IN-FACT OF PLEDGOR WITH RESPECT TO THE PLEDGED
COLLATERAL, INCLUDING THE RIGHT TO VOTE THE PLEDGED SHARES, WITH FULL POWER OF SUBSTITUTION TO DO SO. THE APPOINTMENT OF AGENT AS PROXY AND ATTORNEY-IN-FACT IS COUPLED WITH AN INTEREST AND SHALL BE IRREVOCABLE UNTIL THE TERMINATION DATE. IN ADDITION
TO THE RIGHT TO VOTE THE PLEDGED SHARES, THE APPOINTMENT OF AGENT AS PROXY AND ATTORNEY-IN-FACT SHALL INCLUDE THE RIGHT TO EXERCISE ALL OTHER RIGHTS, POWERS, PRIVILEGES AND REMEDIES TO WHICH A HOLDER OF THE PLEDGED SHARES WOULD BE ENTITLED
(INCLUDING GIVING OR WITHHOLDING WRITTEN CONSENTS OF SHAREHOLDERS, CALLING SPECIAL MEETINGS OF SHAREHOLDERS AND VOTING AT SUCH MEETINGS). SUCH PROXY SHALL BE EFFECTIVE, AUTOMATICALLY AND WITHOUT THE NECESSITY OF ANY ACTION (INCLUDING ANY TRANSFER OF
ANY PLEDGED SHARES ON THE RECORD BOOKS OF THE ISSUER THEREOF) BY ANY PERSON (INCLUDING THE ISSUER OF THE PLEDGED SHARES OR ANY OFFICER OR AGENT THEREOF), UPON THE OCCURRENCE OF AN EVENT OF DEFAULT. NOTWITHSTANDING THE FOREGOING, AGENT SHALL NOT HAVE
ANY DUTY TO EXERCISE ANY SUCH RIGHT OR TO PRESERVE THE SAME AND SHALL NOT BE LIABLE FOR ANY FAILURE TO DO SO OR FOR ANY DELAY IN DOING SO. 

  
 6 

 (b) If, at the original time or times appointed for the sale of the whole or any
part of the Pledged Collateral, the highest bid, if there be but one sale, shall be inadequate to discharge in full all the Secured Obligations, or if the Pledged Collateral be offered for sale in lots, if at any of such sales, the highest bid for
the lot offered for sale would indicate to Agent, in its discretion, that the proceeds of the sales of the whole of the Pledged Collateral would be unlikely to be sufficient to discharge all the Secured Obligations, Agent may, on one or more
occasions and in its discretion, postpone any of said sales by public announcement at the time of sale or the time of previous postponement of sale, and no other notice of such postponement or postponements of sale need be given, any other notice
being hereby waived; provided, however, that any sale or sales made after such postponement shall be after five (5) days’ notice to the applicable Pledgor. 

(c) [Reserved]. 

(d) [Reserved]. 

(e) If, at any time when Agent shall determine to exercise its right to sell the whole or any part of the Pledged Collateral
hereunder, such Pledged Collateral or the part thereof to be sold shall not, for any reason whatsoever, be effectively registered under the Act, Agent may, in its discretion (subject only to applicable requirements of law), sell such Pledged
Collateral or part thereof by private sale in such manner and under such circumstances as Agent may deem necessary or advisable, but subject to the other requirements of this Section 9, and shall not be required to effect a registration
of such Pledged Collateral under the Act or to cause the same to be effected. Without limiting the generality of the foregoing, in any such event, Agent in its discretion (x) may, in accordance with applicable securities laws, proceed to make
such private sale notwithstanding that a registration statement for the purpose of registering such Pledged Collateral or part thereof could be or shall have been filed under said Act (or similar statute), (y) may approach and negotiate with a
single possible purchaser to effect such sale, and (z) may restrict such sale to a purchaser who is an accredited investor under the Act and who will represent and agree that such purchaser is purchasing for its own account, for investment and
not with a view to the distribution or sale of such Pledged Collateral or any part thereof. In addition to a private sale as provided above in this Section 9, if any of the Pledged Collateral shall not be freely distributable to the
public without registration under the Act (or similar statute) at the time of any proposed sale pursuant to this Section 9, then Agent shall not be required to effect such registration or cause the same to be effected but, in its
discretion (subject only to applicable requirements of law), may require that any sale hereunder (including a sale at auction) be conducted subject to restrictions: 

(i) as to the financial sophistication and ability of any person or entity permitted to bid or purchase at any such sale; 

(ii) as to the content of legends to be placed upon any certificates representing the Pledged Collateral sold in such sale,
including restrictions on future transfer thereof; 
 (iii) as to the representations required to be made by each Person
bidding or purchasing at such sale relating to that Person’s access to financial information about the Pledgors and such Person’s intentions as to the holding of the Pledged Collateral so sold for investment for its own account and not
with a view to the distribution thereof; and 
 (iv) as to such other matters as Agent may, in its discretion, deem
necessary or appropriate in order that such sale (notwithstanding any failure so to register) may be effected in compliance with the Bankruptcy Code and other laws affecting the enforcement of creditors’ rights and the Act and all applicable
state securities laws. 

  
 7 

 (f) Each Pledgor recognizes that Agent may be unable to effect a public sale of
any or all the Pledged Collateral and may be compelled to resort to one or more private sales thereof in accordance with clause (e) above. Each Pledgor also acknowledges that any such private sale may result in prices and other terms
less favorable to the seller than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially unreasonable manner solely by virtue of such sale
being private. Agent shall be under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit the Pledged Entity to register such securities for public sale under the Act, or under applicable state
securities laws, even if the applicable Pledgor and the Pledged Entity would agree to do so. 
 (g) Each Pledgor agrees to
the maximum extent permitted by applicable law that following the occurrence and during the continuance of an Event of Default it will not at any time plead, claim or take the benefit of any appraisal, valuation, stay, extension, moratorium or
redemption law now or hereafter in force in order to prevent or delay the enforcement of this Pledge Agreement, or the absolute sale of the whole or any part of the Pledged Collateral or the possession thereof by any purchaser at any sale hereunder,
and each Pledgor waives the benefit of all such laws to the extent it lawfully may do so. Each Pledgor agrees that it will not interfere with any right, power and remedy of Agent provided for in this Pledge Agreement or now or hereafter existing at
law or in equity or by statute or otherwise, or the exercise or beginning of the exercise by Agent of any one or more of such rights, powers or remedies. No failure or delay on the part of Agent to exercise any such right, power or remedy and no
notice or demand which may be given to or made upon any Pledgor by Agent with respect to any such remedies shall operate as a waiver thereof, or limit or impair Agent’s right to take any action or to exercise any power or remedy hereunder,
without notice or demand, or prejudice its rights as against any Pledgor in any respect. 
 (h) Each Pledgor further agrees
that a breach of any of the covenants contained in this Section 9 will cause irreparable injury to Agent, that Agent shall have no adequate remedy at law in respect of such breach and, as a consequence, agrees that each and every
covenant contained in this Section 9 shall be specifically enforceable against Pledgor, and each Pledgor hereby waives and agrees not to assert any defenses against an action for specific performance of such covenants except for a
defense that the Secured Obligations are not then due and payable in accordance with the agreements and instruments governing and evidencing such obligations. 

10. Assignment. Agent may assign, indorse or transfer any instrument evidencing all or any part of the Secured Obligations as provided
in, and in accordance with, the Loan Agreement, and the holder of such instrument shall be entitled to the benefits of this Pledge Agreement. 

11. Termination. Upon the Termination Date, (a) Agent’s lien on and security interest in the Pledged Collateral shall be
automatically terminated without any instrument or performance of any act, and (b) at the request of Borrower, Agent shall, at Borrower’s sole cost and expense and without any recourse, representation or warranty, return to Pledgor all
Pledged Collateral previously delivered to Agent under this Agreement and execute and deliver to Borrower such documents as Borrower shall reasonably request to evidence such termination. 

  
 8 

 12. Lien Absolute. All rights of Agent, on behalf of itself and the Lenders, hereunder,
and all obligations of each Pledgor hereunder, shall be absolute and unconditional irrespective of: 
 (a) any lack of
validity or enforceability of the Loan Agreement, any other Loan Document or any other agreement or instrument governing or evidencing any Secured Obligations; 

(b) any change in the time, manner, place or terms of payment of, or in any other term of, all or any part of the Secured
Obligations, or any other amendment or waiver of or any consent to any departure from the Loan Agreement, any other Loan Document or any other agreement or instrument governing or evidencing any Secured Obligations; 

(c) any exchange, release or non-perfection of any other Collateral, or any release or amendment or waiver of or consent to
departure from any guaranty (including, without limitation, the Guaranty Agreement), for all or any of the Secured Obligations; 

(d) the insolvency of any Loan Party; or 

(e) any other action or circumstance which might otherwise constitute a defense available to, or a legal or equitable discharge
of, any Pledgor. 
 13. Release. Each Pledgor consents and agrees that Agent may at any time, or from time to time, in its
discretion: 
 (a) renew, extend or change the time of payment, and/or the manner, place or terms of payment of all or any
part of the Secured Obligations in accordance with the terms of the Loan Documents; and 
 (b) exchange, release and/or
surrender all or any of the Collateral (including the Pledged Collateral), or any part thereof, by whomsoever deposited, which is now or may hereafter be held by Agent in connection with all or any of the Secured Obligations; all in such manner and
upon such terms as Agent may deem proper, and without notice to or further assent from any Pledgor, it being hereby agreed that each Pledgor shall be and remain bound upon this Pledge Agreement, irrespective of the value or condition of any of the
Collateral, and notwithstanding any such change, exchange, settlement, compromise, surrender, release, renewal or extension, and notwithstanding also that the Secured Obligations may, at any time, exceed the aggregate principal amount thereof set
forth in the Loan Agreement, or any other agreement governing any Secured Obligations. Each Pledgor hereby waives notice of acceptance of this Pledge Agreement, and also presentment, demand, protest and notice of dishonor of any and all of the
Secured Obligations, and promptness in commencing suit against any party hereto or liable hereon, and in giving any notice to or of making any claim or demand hereunder upon any Pledgor. No act or omission of any kind on Agent’s part shall in
any event affect or impair this Pledge Agreement. 
 14. Reinstatement. This Pledge Agreement shall remain in full force and effect
and continue to be effective should any petition be filed by or against any Pledgor or any Pledged Entity for liquidation or reorganization, should any Pledgor or any Pledged Entity become insolvent or make an assignment for the benefit of creditors
or should a receiver or trustee be appointed for all or any significant part of a Pledgor’s or a Pledged Entity’s assets, and shall continue to be effective or be reinstated, as the case may be, if at any time payment and performance of
the Secured Obligations, or any 

  
 9 

 
part thereof, is, pursuant to applicable law, rescinded or reduced in amount, or must otherwise be restored or returned by any obligee of the Secured Obligations, whether as a “voidable
preference”, “fraudulent conveyance”, or otherwise, all as though such payment or performance had not been made. In the event that any payment, or any part thereof, is rescinded, reduced, restored or returned, the Secured Obligations
shall be reinstated and deemed reduced only by such amount paid and not so rescinded, reduced, restored or returned. 
 15. Notices.
Except as otherwise provided herein, whenever it is provided herein that any notice, demand, request, consent, approval, declaration or other communication shall or may be given to or served upon any of the parties by any other party, or whenever
any of the parties desires to give and serve upon any other party any communication with respect to this Pledge Agreement, each such notice, demand, request, consent, approval, declaration or other communication shall be in writing and shall be
given in the manner, and deemed received, as provided for in the Loan Agreement. 
 16. Severability. Whenever possible, each
provision of this Pledge Agreement shall be interpreted in a manner as to be effective and valid under applicable law, but if any provision of this Pledge Agreement shall be prohibited by or invalid under applicable law, such provision shall be
ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Pledge Agreement. This Pledge Agreement is to be read, construed and applied together with the Loan
Agreement and the other Loan Documents which, taken together, set forth the complete understanding and agreement of Agent and the Pledgors with respect to the matters referred to herein and therein. 

17. No Waiver; Cumulative Remedies; Amendments. Neither Agent nor any Lender shall by any act, delay, omission or otherwise be deemed
to have waived any of its rights or remedies hereunder, and no waiver shall be valid unless in writing, signed by Agent and then only to the extent therein set forth. A waiver by Agent, for itself and the ratable benefit of Lenders, of any right or
remedy hereunder on any one occasion shall not be construed as a bar to any right or remedy which Agent would otherwise have had on any future occasion. No failure to exercise nor any delay in exercising on the part of Agent or any Lender, any
right, power or privilege hereunder, shall operate as a waiver thereof, nor shall any single or partial exercise of any right, power or privilege hereunder preclude any other or future exercise thereof or the exercise of any other right, power or
privilege. The rights and remedies hereunder provided are cumulative and may be exercised singly or concurrently, and are not exclusive of any rights and remedies provided by law. None of the terms or provisions of this Pledge Agreement may be
waived, altered, modified, supplemented or amended except by an instrument in writing, duly executed by Agent and each Pledgor. 
 18.
Limitation By Law. All rights, remedies and powers provided in this Pledge 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 Pledge
Agreement are intended to be subject to all applicable mandatory provisions of law that may be controlling and to be limited to the extent necessary so that they shall not render this Pledge Agreement invalid, unenforceable, in whole or in part, or
not entitled to be recorded, registered or filed under the provisions of any applicable law. 
 19. Successors And Assigns. This
Pledge Agreement and all obligations of the Pledgors hereunder shall be binding upon the successors and assigns of each Pledgor (including any debtor-in-possession on behalf of such Pledgor) and shall, together with the rights and remedies of Agent
hereunder, inure to the benefit of Agent and Lenders, all future holders of any instrument evidencing any of the Secured Obligations and their respective successors and assigns under the Loan Agreement. No sales of participations, other sales,
assignments, transfers or other dispositions of any agreement governing or instrument evidencing the obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to Agent, hereunder. No Pledgor may assign, sell,
hypothecate or otherwise transfer any interest in or obligation under this Pledge Agreement. 

  
 10 

 20. Counterparts. This Pledge Agreement may be executed in any number of counterparts and
by different parties in separate counterparts, each of which when so executed shall be deemed to be an original and all of which when taken together shall constitute one and the same agreement. Delivery of an executed signature page of this Pledge
Agreement by facsimile transmission or electronic transmission shall be as effective as delivery of a manually executed counterpart hereof. 

21. Section Titles. The Section titles contained in this Pledge Agreement are and shall be without substantive meaning or content of
any kind whatsoever and are not a part of the agreement between the parties hereto. 
 22. No Strict Construction. The parties hereto
have participated jointly in the negotiation and drafting of this Pledge Agreement. In the event an ambiguity or question of intent or interpretation arises, this Pledge Agreement shall be construed as if drafted jointly by the parties hereto and no
presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Pledge Agreement. 

23. Advice of Counsel. Each of the parties represents to each other party hereto that it has discussed this Pledge Agreement with its
counsel. 
 24. GOVERNING LAW AND JURISDICTION. 

(a) GOVERNING LAW. THIS PLEDGE AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL IN ALL RESPECTS
BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH, THE INTERNAL LAWS OF THE STATE OF NEW YORK (WITHOUT REGARD TO THE CONFLICT OF LAWS PRINCIPLES OF SUCH STATE), INCLUDING ALL MATTERS OF CONSTRUCTION, VALIDITY AND PERFORMANCE, REGARDLESS OF THE
LOCATION OF THE PLEDGED COLLATERAL, PROVIDED, HOWEVER, THAT IF THE LAWS OF ANY JURISDICTION OTHER THAN NEW YORK SHALL GOVERN IN REGARD TO THE VALIDITY, PERFECTION OR EFFECT OF PERFECTION OF ANY LIEN OR IN REGARD TO PROCEDURAL MATTERS
AFFECTING ENFORCEMENT OF ANY LIENS IN PLEDGED COLLATERAL, SUCH LAWS OF SUCH OTHER JURISDICTIONS SHALL CONTINUE TO APPLY TO THAT EXTENT. 

(b) SUBMISSION TO JURISDICTION. ANY LEGAL ACTION OR PROCEEDING WITH RESPECT TO THIS PLEDGE AGREEMENT SHALL BE BROUGHT
EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK LOCATED IN THE CITY OF NEW YORK, BOROUGH OF MANHATTAN, OR OF THE UNITED STATES OF AMERICA FOR THE SOUTHERN DISTRICT OF NEW YORK AND, BY EXECUTION AND DELIVERY OF THIS PLEDGE AGREEMENT, EACH PLEDGOR
EXECUTING THIS PLEDGE AGREEMENT HEREBY ACCEPTS FOR ITSELF AND IN RESPECT OF ITS PROPERTY, GENERALLY AND UNCONDITIONALLY, THE JURISDICTION OF THE AFORESAID COURTS. NOTWITHSTANDING THE FOREGOING, AGENT AND THE LENDERS SHALL HAVE THE RIGHT TO BRING ANY
ACTION OR PROCEEDING AGAINST ANY PLEDGOR (OR ANY PLEDGED COLLATERAL) IN THE COURT OF ANY OTHER JURISDICTION AGENT OR THE LENDERS DEEM NECESSARY OR APPROPRIATE IN ORDER TO REALIZE ON THE PLEDGED COLLATERAL OR OTHER

  
 11 

 
SECURITY FOR THE OBLIGATIONS. THE PARTIES HERETO HEREBY IRREVOCABLY WAIVE ANY OBJECTION, INCLUDING ANY OBJECTION TO THE LAYING OF VENUE OR BASED ON THE GROUNDS OF FORUM NON CONVENIENS, THAT ANY
OF THEM MAY NOW OR HEREAFTER HAVE TO THE BRINGING OF ANY SUCH ACTION OR PROCEEDING IN SUCH JURISDICTIONS. 
 (c) SERVICE
OF PROCESS. EACH PLEDGOR HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF ANY AND ALL LEGAL PROCESS, SUMMONS, NOTICES AND OTHER DOCUMENTS AND OTHER SERVICE OF PROCESS OF ANY KIND AND CONSENTS TO SUCH SERVICE IN ANY SUIT, ACTION OR PROCEEDING
BROUGHT IN THE UNITED STATES OF AMERICA WITH RESPECT TO OR OTHERWISE ARISING OUT OF OR IN CONNECTION WITH THIS PLEDGE AGREEMENT BY ANY MEANS PERMITTED BY APPLICABLE REQUIREMENTS OF LAW, INCLUDING BY THE MAILING THEREOF (BY REGISTERED OR CERTIFIED
MAIL, POSTAGE PREPAID) TO THE ADDRESS OF PLEDGOR SPECIFIED HEREIN (AND SHALL BE EFFECTIVE WHEN SUCH MAILING SHALL BE EFFECTIVE, AS PROVIDED THEREIN). EACH PLEDGOR 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. 
 (d)
NON-EXCLUSIVE JURISDICTION. NOTHING CONTAINED IN THIS SECTION 24 SHALL AFFECT THE RIGHT OF AGENT OR THE LENDERS TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE REQUIREMENTS OF LAW OR COMMENCE LEGAL PROCEEDINGS OR OTHERWISE
PROCEED AGAINST ANY PLEDGOR IN ANY OTHER JURISDICTION. 
 25. WAIVER OF JURY TRIAL. EACH PLEDGOR, AGENT AND LENDER UNCONDITIONALLY
WAIVE ANY AND ALL RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION BASED UPON OR ARISING OUT OF THIS PLEDGE AGREEMENT, ANY OF THE OBLIGATIONS SECURED HEREBY, ANY DEALINGS AMONG PLEDGORS, AGENT AND/OR THE LENDERS RELATING TO THE SUBJECT MATTER
OF THIS TRANSACTION OR ANY RELATED TRANSACTIONS, AND/OR THE RELATIONSHIP THAT IS BEING ESTABLISHED AMONG PLEDGORS, AGENT AND/OR THE LENDERS. THE SCOPE OF THIS WAIVER IS INTENDED TO BE ALL ENCOMPASSING OF ANY AND ALL DISPUTES THAT MAY BE FILED IN ANY
COURT. THIS WAIVER IS IRREVOCABLE. THIS WAIVER MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING. THE WAIVER ALSO SHALL APPLY TO ANY SUBSEQUENT AMENDMENTS, RENEWALS, SUPPLEMENTS OR MODIFICATIONS TO THIS PLEDGE AGREEMENT OR TO ANY OTHER DOCUMENTS OR
AGREEMENTS RELATING TO THIS TRANSACTION OR ANY RELATED TRANSACTION. THIS PLEDGE AGREEMENT MAY BE FILED AS A WRITTEN CONSENT TO A TRIAL BY THE COURT. 

26. Benefit of Agent. All Liens granted or contemplated hereby shall be for the benefit of Agent, on behalf of itself and the Lenders,
and all proceeds or payments realized from Pledged Collateral in accordance herewith shall be applied to the Secured Obligations in accordance with the terms of the Loan Agreement. 

27. Additional Pledgors. Additional Pledgors may become party to this Pledge Agreement by the execution and delivery by such Person of
a joinder agreement in form and substance 

  
 12 

 
satisfactory to Agent and such other documents and deliverables as may be required by Agent. Upon receipt of such items, such Person shall become a “Pledgor” hereunder with the same
force and effect as if it were originally a party to this Pledge Agreement and named as a “Pledgor” hereunder. The execution and delivery of such joinder agreement or such other requested deliverables, and the joining of such Person to
this Pledge Agreement, shall not require the consent of any other Pledgor hereunder, and the rights and obligations of each Pledgor hereunder shall remain in full force and effect notwithstanding the addition of any new Pledgor as a party to this
Pledge Agreement. 
 [Signature page follows] 

  
 13 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Pledge Agreement to be executed
and delivered by its duly authorized officer as of the date first set forth above. 
  

			
	PLEDGOR:
	
	AMEDICA CORPORATION
		
	By:	 	/s/ Eric Olson
		 	  

	Name:	 	Eric Olson
	Title:	 	CEO

  
 [SIGNATURE PAGE TO PLEDGE
AGREEMENT] 

 
			
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent
		
	By:	 	/s/ Peter Gibson
		 	  

	Name:	 	Peter Gibson
	Title:	 	Duly Authorized Signatory

  
 [SIGNATURE PAGE TO PLEDGE
AGREEMENT] 

 SCHEDULE I 

PART A 
 PLEDGED
SHARES 
  

															
	 Pledged Entity
	  	Pledgor	  	Class of Stock	  	Stock Certificate
Number(s)	  	Number of
Shares	 	  	Percentage of
Outstanding Shares	 
	 US Spine, Inc.
	  	Amedica Corporation	  	Common stock	  	CM001	  	 	1	  	  	 	100.0	% 

 PART B 

PLEDGED INDEBTEDNESS 
  

											
	 Pledged Entity
	  	Pledgor	  	Initial Principal
Amount	  	Issue Date	  	Maturity Date	  	Interest
Rate
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

 Exhibit A 

PLEDGE AMENDMENT 
 This Pledge
Amendment, dated December 17, 2012 is delivered pursuant to Section 7(d) of the Pledge Agreement referred to below. All defined terms herein shall have the meanings ascribed thereto or incorporated by reference in the Pledge
Agreement. The undersigned hereby certifies that the representations and warranties in Section 6 of the Pledge Agreement are and continue to be true and correct, both as to the promissory notes, instruments and shares pledged prior to
this Pledge Amendment and as to the promissory notes, instruments and shares pledged pursuant to this Pledge Amendment. The undersigned further agrees that this Pledge Amendment may be attached to that certain Pledge Agreement, dated as of
December 17, 2012, between undersigned, as Pledgor, the other Pledgors signatory thereto and General Electric Capital Corporation, as Agent, (the “Pledge Agreement”) and that the Pledged Shares and Pledged Indebtedness listed
on this Pledge Amendment shall be and become a part of the Pledged Collateral referred to in said Pledge Agreement and shall secure all Secured Obligations referred to in said Pledge Agreement. The undersigned acknowledges that any promissory notes,
instruments or shares not included in the Pledged Collateral at the discretion of Agent may not otherwise be pledged by Pledgor to any other Person otherwise used as security for any obligations other than the Secured Obligations. 

 

			
	[NAME OF PLEDGOR]
		
	By:	 	  

	Name:	 	
	Title:	 	

  

											
	 Name and Address of Pledgor
	  	Pledged Entity	  	Class
Of Stock	  	Certificate
Number(s)	  	Number
Of Shares	  	Percentage of
Outstanding Shares
		  		  		  		  		  	
		  		  		  		  		  	
		  		  		  		  		  	

  

									
	 Pledged Entity
	  	Initial
Principal Amount	  	Issue Date	  	Maturity Date	  	Interest Rate
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 Exhibit B 

AGREEMENT REGARDING UNCERTIFICATED LIMITED 

LIABILITY COMPANY 

INTERESTS 
 AGREEMENT (as
amended, modified, restated and/or supplemented from time to time, this “Agreement”), dated as of                      among
[            ], a [            ] (the “Pledgor”), GENERAL ELECTRIC CAPITAL CORPORATION, as agent (the
“Pledgee”), and              , as the issuer of the Uncertificated Limited Liability Company Interests (as defined below) (the “Issuer”). 

WITNESSETH: 
 WHEREAS,
Pursuant to the Loan and Security Agreement, dated as of December 17, 2012, by and among Amedica Corporation (“Borrower”), US Spine, Inc., the other loan parties party thereto from time to time, the Lenders from time to time
party signatory thereto and the Pledgee (including all annexes, exhibits and schedules thereto, as from time to time amended, restated, supplemented or otherwise modified, the “Loan Agreement”), the Lenders have severally agreed to
make Revolving Loans and a Term Loan to Borrower on the terms and conditions set forth in the Loan Agreement; 
 WHEREAS, the Pledgor, in
order to secure the payment of the obligations outstanding under the Loan Agreement (the “Obligations”), has entered into a Pledge Agreement, dated as of December 17, 2012, by and between the Pledgor and the Pledgee (the
“Pledge Agreement”), pursuant to which the Pledgor has pledged to the Pledgee and the other parties signatory thereto and granted a security interest in favor of the Pledgee in all of the right, title and interest of the Pledgor in
and to certain limited liability company membership units in the Issuer (the “Issuer Pledged Interests”); and 
 WHEREAS,
the Pledgor desires the Issuer to enter into this Agreement in order to perfect the security interest of the Pledgee under the Pledge Agreement in the Issuer Pledged Interests, to vest in the Pledgee control of the Issuer Pledge Interests and to
provide for the rights of the parties under this Agreement; 
 NOW THEREFORE, in consideration of the premises and the mutual promises and
agreements contained herein, and for other valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows: 

1. The Pledgor hereby irrevocably authorizes and directs the Issuer, and the Issuer hereby agrees, to comply with any and all instructions and
orders originated by the Pledgee (and its successors and assigns) regarding any and all of the Issuer Pledged Interests without the further consent by the registered owner (including the Pledgor), and, following its receipt of a notice from the
Pledgee stating that the Pledgee is exercising exclusive control of the Issuer Pledged Interests, not to comply with any instructions or orders regarding any or all of the Issuer Pledged Interests originated by any person or entity other than the
Pledgee (and its successors and assigns) or a court of competent jurisdiction. 
 2. The Issuer hereby certifies that (i) no notice of
any security interest, lien or other encumbrance or claim affecting the Issuer Pledged Interests (other than the security interest of the Pledgee) has been received by it, and (ii) the security interest of the Pledgee in the Issuer Pledged
Interests has been registered in the books and records of the Issuer. 

 3. The Issuer hereby represents and warrants that the pledge by the Pledgor of, and the granting
by the Pledgor of a security interest in, the Issuer Pledged Interests to the Pledgee does not violate the charter, by-laws, partnership agreement, membership agreement or any other agreement governing the Issuer or the Issuer Pledged Interests.

 4. All notices, statements of accounts, reports, prospectuses, financial statements and other communications to be sent to the Pledgor by
the Issuer in respect of the Issuer will also be sent to the Pledgee at the following address: 
  

			
	General Electric Capital Corporation
	c/o GE Healthcare Financial Services, Inc.
	Two Bethesda Metro Center, Suite 600
	Bethesda, Maryland 20814
	Attention: General Counsel
	Telephone No.:	 	301-961-1640
	Facsimile No.:	 	301-664-9866
	
	With a copy to:
	
	 General Electric Capital Corporation

c/o GE Healthcare Financial Services, Inc.

	Two Bethesda Metro Center, Suite 600
	Bethesda, Maryland 20814
	Attention: General Counsel
	Telephone No.:	 	301-961-1640
	Facsimile No.:	 	301-664-9866

 5. Following its receipt of a notice from the Pledgee stating that the Pledgee is exercising exclusive control
of the Issuer Pledged Interests and until the Pledgee shall have delivered written notice to the issuer that all of the Obligations have been paid in full and this Agreement is terminated, the Issuer will send any and all redemptions, distributions,
interest or other payments in respect of the Issuer Pledged Interests from the Issuer for the account of the Pledgee only by wire transfers to such account as the Pledgee shall instruct. 

6. Except as expressly provided otherwise in Sections 4 and 5, all notices, instructions, orders and communications hereunder
shall be sent or delivered by mail, telecopy, or overnight courier service and all such notices and communications shall, when mailed, telecopied, or sent by overnight courier, be effective when deposited in the mails or delivered to overnight
courier, prepaid and properly addressed for delivery on such or the next Business Day, or sent by telecopier, except that notices and communications to the Pledgee or the Issuer shall not be effective until received. All notices and other
communications shall be in writing and addressed as follows: 
  

					
	(a)	  	if to Pledgor at:	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	

					
			
		  	Attention:	  	
			
	(b)	  	if to the Pledgee, at the address given in Section 4;	  	
			
	(c)	  	if to the Issuer, at:	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	
			
		  	  
	  	

 or at such other address as shall have been furnished in writing by any Person described above to the party required to give
notice hereunder. As used in this Section 6, “Business Day” means any day other than a Saturday, Sunday, or other day in which banks in New York are authorized to remain closed. 

7. This Agreement shall be binding upon the successors and assigns of the Pledgor and the Issuer and shall inure to the benefit of and be
enforceable by the Pledgee and its successors and assigns. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which shall constitute one instrument. In the event that any provision of this
Agreement shall prove to be invalid or unenforceable, such provision shall be deemed to be severable from the other provisions of this Agreement which shall remain binding on all parties hereto. None of the terms and conditions of this Agreement may
be changed, waived, modified or varied in any manner whatsoever except in writing signed by the Pledgee, the Issuer and the Pledgor. 
 8.
This Agreement shall be governed by and construed in accordance with the laws of the State of New York, without regard to its principles of conflict of laws. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be executed and
delivered by its duly authorized officer as of the date first set forth above. 
  

			
	[PLEDGOR]
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	GENERAL ELECTRIC CAPITAL CORPORATION, as Agent
		
	By:	 	  

	Name:	 	  

	Title:	 	  

	
	[ISSUER]
		
	By:	 	  

	Name:	 	  

	Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00223-of-00352.parquet"}]]