Document:

EX-10.8

 Exhibit 10.8 

$180,000,000 SENIOR SECURED CREDIT FACILITIES 

AMENDED AND RESTATED CREDIT AGREEMENT 

dated as of August 13, 2014 

among 
 FITBIT, INC., 

as the Borrower, 
 THE SEVERAL
LENDERS FROM TIME TO TIME PARTIES HERETO, 
 SILICON VALLEY BANK, 

as Administrative Agent, Issuing Lender and Swingline Lender, 

SILICON VALLEY BANK and SUNTRUST BANK, 

as Collateral Agents, 

SUNTRUST BANK and MORGAN STANLEY SENIOR FUNDING, INC., 

as Syndication Agents, 
 and 

SILICON VALLEY BANK, SUNTRUST ROBINSON HUMPHREY, INC. and MORGAN 

STANLEY SENIOR FUNDING, INC., 

as Lead Arrangers and Joint Bookrunners 

 Table of Contents 

 

							
	 	 	 	  	Page	 
		
	 SECTION 1 DEFINITIONS
	  	 	2	  
			
	 1.1
	 	Defined Terms	  	 	2	  
	 1.2
	 	Other Definitional Provisions	  	 	40	  
		
	 SECTION 2 AMOUNT AND TERMS OF REVOLVING COMMITMENTS
	  	 	41	  
			
	 2.1
	 	[Reserved.]	  	 	41	  
	 2.2
	 	[Reserved.]	  	 	41	  
	 2.3
	 	[Reserved.]	  	 	41	  
	 2.4
	 	Revolving Commitments	  	 	41	  
	 2.5
	 	Procedure for Revolving Loan Borrowing	  	 	41	  
	 2.6
	 	Swingline Commitment	  	 	42	  
	 2.7
	 	Procedure for Swingline Borrowing; Refunding of Swingline Loans	  	 	42	  
	 2.8
	 	Over advances	  	 	44	  
	 2.9
	 	Fees	  	 	44	  
	 2.10
	 	Termination or Reduction of Total Revolving Commitments; Total L/C Commitments	  	 	45	  
	 2.11
	 	Optional Loan Prepayments	  	 	45	  
	 2.12
	 	Incremental Facility	  	 	46	  
	 2.13
	 	Conversion and Continuation Options	  	 	47	  
	 2.14
	 	Limitations on Eurodollar Tranches	  	 	48	  
	 2.15
	 	Interest Rates and Payment Dates	  	 	48	  
	 2.16
	 	Computation of Interest and Fees	  	 	48	  
	 2.17
	 	Inability to Determine Interest Rate	  	 	48	  
	 2.18
	 	Pro Rata Treatment and Payments	  	 	49	  
	 2.19
	 	Illegality; Requirements of Law	  	 	51	  
	 2.20
	 	Taxes	  	 	53	  
	 2.21
	 	Indemnity	  	 	56	  
	 2.22
	 	Change of Lending Office	  	 	57	  
	 2.23
	 	Substitution of Lenders	  	 	57	  
	 2.24
	 	Defaulting Lenders	  	 	58	  
	 2.25
	 	[Reserved.]	  	 	60	  
	 2.26
	 	Notes	  	 	60	  
		
	 SECTION 3 LETTERS OF CREDIT
	  	 	61	  
			
	 3.1
	 	L/C Commitment	  	 	61	  
	 3.2
	 	Procedure for Issuance of Letters of Credit	  	 	62	  
	 3.3
	 	Fees and Other Charges	  	 	62	  
	 3.4
	 	L/C Participations; Existing Letters of Credit	  	 	63	  
	 3.5
	 	Reimbursement	  	 	63	  
	 3.6
	 	Obligations Absolute	  	 	64	  
	 3.7
	 	Letter of Credit Payments	  	 	65	  
	 3.8
	 	Applications	  	 	65	  
	 3.9
	 	Interim Interest	  	 	65	  
	 3.10
	 	Cash Collateral	  	 	65	  
	 3.11
	 	[Reserved.]	  	 	66	  
	 3.12
	 	Resignation of the Issuing Lender	  	 	66	  
	 3.13
	 	Applicability of ISP	  	 	66	  

  
 -i- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
		
	 SECTION 4 REPRESENTATIONS AND WARRANTIES
	  	 	66	  
			
	 4.1
	 	Financial Condition	  	 	67	  
	 4.2
	 	No Change	  	 	67	  
	 4.3
	 	Existence; Compliance with Law	  	 	67	  
	 4.4
	 	Power, Authorization; Enforceable Obligations	  	 	67	  
	 4.5
	 	No Legal Bar	  	 	68	  
	 4.6
	 	Litigation	  	 	68	  
	 4.7
	 	No Default	  	 	68	  
	 4.8
	 	Ownership of Property; Liens; Investments	  	 	68	  
	 4.9
	 	Intellectual Property	  	 	68	  
	 4.10
	 	Taxes	  	 	68	  
	 4.11
	 	Federal Regulations	  	 	69	  
	 4.12
	 	Labor Matters	  	 	69	  
	 4.13
	 	ERISA	  	 	69	  
	 4.14
	 	Investment Company Act; Other Regulations	  	 	70	  
	 4.15
	 	Subsidiaries	  	 	70	  
	 4.16
	 	Use of Proceeds	  	 	70	  
	 4.17
	 	Environmental Matters	  	 	70	  
	 4.18
	 	Accuracy of Information, Etc.	  	 	71	  
	 4.19
	 	Security Documents	  	 	71	  
	 4.20
	 	Solvency	  	 	72	  
	 4.21
	 	Regulation H	  	 	72	  
	 4.22
	 	Designated Senior Indebtedness	  	 	72	  
	 4.23
	 	[Reserved.]	  	 	72	  
	 4.24
	 	Insurance	  	 	72	  
	 4.25
	 	No Casualty	  	 	72	  
	 4.26
	 	Accounts Receivable; Inventory	  	 	73	  
	 4.27
	 	Capitalization	  	 	73	  
	 4.28
	 	Patriot Act	  	 	73	  
	 4.29
	 	OFAC	  	 	73	  
		
	 SECTION 5 CONDITIONS PRECEDENT
	  	 	73	  
			
	 5.1
	 	Conditions to Initial Extension of Credit	  	 	73	  
	 5.2
	 	Conditions to Each Extension of Credit	  	 	78	  
	 5.3
	 	Post-Closing Condition Subsequent	  	 	78	  
		
	 SECTION 6 AFFIRMATIVE COVENANTS
	  	 	79	  
			
	 6.1
	 	Financial Statements	  	 	79	  
	 6.2
	 	Certificates; Reports; Other Information	  	 	79	  
	 6.3
	 	Accounts Receivable and Inventory	  	 	81	  
	 6.4
	 	Payment of Obligations	  	 	82	  
	 6.5
	 	Maintenance of Existence; Compliance	  	 	83	  
	 6.6
	 	Maintenance of Property; Insurance	  	 	83	  
	 6.7
	 	Inspection of Property; Books and Records; Discussions	  	 	83	  
	 6.8
	 	Notices	  	 	84	  
	 6.9
	 	Environmental Laws	  	 	85	  
	 6.10
	 	Operating Accounts	  	 	85	  

  
 -ii- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 6.11
	 	Audits, Appraisals and Field Examinations	  	 	85	  
	 6.12
	 	Additional Collateral, Etc.	  	 	86	  
	 6.13
	 	[Reserved.]	  	 	88	  
	 6.14
	 	Insider Subordinated Indebtedness	  	 	88	  
	 6.15
	 	Use of Proceeds	  	 	88	  
	 6.16
	 	Designated Senior Indebtedness	  	 	88	  
	 6.17
	 	Further Assurances	  	 	88	  
		
	 SECTION 7 NEGATIVE COVENANTS
	  	 	88	  
			
	 7.1
	 	Financial Condition Covenants	  	 	88	  
	 7.2
	 	Indebtedness	  	 	89	  
	 7.3
	 	Liens	  	 	90	  
	 7.4
	 	Fundamental Changes	  	 	92	  
	 7.5
	 	Disposition of Property	  	 	92	  
	 7.6
	 	Restricted Payments	  	 	93	  
	 7.7
	 	[Reserved.]	  	 	94	  
	 7.8
	 	Investments	  	 	94	  
	 7.9
	 	ERISA	  	 	97	  
	 7.10
	 	Optional Payments and Modifications of Preferred Stock and Debt Instruments	  	 	97	  
	 7.11
	 	Transactions with Affiliates	  	 	97	  
	 7.12
	 	Sale Leaseback Transactions	  	 	98	  
	 7.13
	 	Swap Agreements	  	 	98	  
	 7.14
	 	Accounting Changes	  	 	98	  
	 7.15
	 	Negative Pledge Clauses	  	 	98	  
	 7.16
	 	Clauses Restricting Subsidiary Distributions	  	 	98	  
	 7.17
	 	Lines of Business	  	 	98	  
	 7.18
	 	Designation of other Indebtedness	  	 	98	  
	 7.19
	 	Certification of Certain Equity Interests	  	 	98	  
	 7.20
	 	Amendments to Organizational Agreements and Material Contracts	  	 	99	  
	 7.21
	 	Use of Proceeds	  	 	99	  
	 7.22
	 	Subordinated Debt	  	 	99	  
	 7.23
	 	[Reserved.]	  	 	99	  
	 7.24
	 	Anti-Terrorism Laws; OFAC; Anti-Corruption	  	 	99	  
	 7.25
	 	Certain Deposit Accounts	  	 	100	  
		
	 SECTION 8 EVENTS OF DEFAULT
	  	 	100	  
			
	 8.1
	 	Events of Default	  	 	100	  
	 8.2
	 	Remedies upon Event of Default	  	 	103	  
	 8.3
	 	Application of Funds	  	 	103	  
		
	 SECTION 9 THE AGENTS
	  	 	105	  
			
	 9.1
	 	Appointment and Authority	  	 	105	  
	 9.2
	 	Delegation of Duties	  	 	105	  
	 9.3
	 	Exculpatory Provisions	  	 	106	  
	 9.4
	 	Reliance by Agents	  	 	106	  
	 9.5
	 	Notice of Default	  	 	107	  
	 9.6
	 	Non-Reliance on Agents and Other Lenders	  	 	107	  
	 9.7
	 	Indemnification	  	 	107	  

  
 -iii- 

 Table of Contents 

(continued) 
  

							
	 	 	 	  	Page	 
			
	 9.8
	 	Agent in Its Individual Capacity	  	 	108	  
	 9.9
	 	Successor Agents	  	 	108	  
	 9.10
	 	Collateral and Guaranty Matters	  	 	109	  
	 9.11
	 	Administrative Agent May File Proofs of Claim	  	 	110	  
	 9.12
	 	No Other Duties, Etc.	  	 	110	  
	 9.13
	 	Collateral Agents	  	 	111	  
	 9.14
	 	Reports and Financial Statements	  	 	112	  
	 9.15
	 	Survival	  	 	112	  
		
	 SECTION 10 MISCELLANEOUS
	  	 	113	  
			
	 10.1
	 	Amendments and Waivers	  	 	113	  
	 10.2
	 	Notices	  	 	114	  
	 10.3
	 	No Waiver; Cumulative Remedies	  	 	117	  
	 10.4
	 	Survival of Representations and Warranties	  	 	117	  
	 10.5
	 	Expenses; Indemnity; Damage Waiver	  	 	117	  
	 10.6
	 	Successors and Assigns; Participations and Assignments	  	 	119	  
	 10.7
	 	Adjustments; Set-off	  	 	122	  
	 10.8
	 	Payments Set Aside	  	 	123	  
	 10.9
	 	Interest Rate Limitation	  	 	123	  
	 10.10
	 	Counterparts; Electronic Execution of Assignments	  	 	124	  
	 10.11
	 	Severability	  	 	124	  
	 10.12
	 	Integration	  	 	124	  
	 10.13
	 	GOVERNING LAW	  	 	124	  
	 10.14
	 	Submission to Jurisdiction; Waivers	  	 	125	  
	 10.15
	 	Acknowledgements	  	 	127	  
	 10.16
	 	[Reserved.]	  	 	127	  
	 10.17
	 	Treatment of Certain Information; Confidentiality	  	 	127	  
	 10.18
	 	Automatic Debits	  	 	128	  
	 10.19
	 	Judgment Currency	  	 	128	  
	 10.20
	 	Patriot Act	  	 	129	  
	 10.21
	 	Acknowledgment of Prior Obligations and Continuation Thereof	  	 	129	  
	 10.22
	 	No Novation	  	 	129	  

  
 -iv- 

 Table of Contents 

(continued) 
  

			
	SCHEDULES
		
	Schedule 1.1A:		Commitments
		
	Schedule 1.1B:		Existing Letters of Credit
		
	Schedule E-1:		Inventory Locations
		
	Schedule 4.4:		Governmental Approvals, Consents, Authorizations, Filings and Notices
		
	Schedule 4.5:		Requirements of Law
		
	Schedule 4.15:		Subsidiaries
		
	Schedule 4.17:		Environmental Matters
		
	Schedule 4.19(a):		Financing Statements and Other Filings
		
	Schedule 4.27:		Capitalization
		
	Schedule 5.3:		Post-Closing Condition Subsequent
		
	Schedule 7.2(b):		Existing Indebtedness
		
	Schedule 7.3(b):		Existing Liens
		
	Schedule 7.8(a):		Existing Investments
	
	EXHIBITS
		
	Exhibit A:		Form of Amended and Restated Guarantee and Collateral Agreement
		
	Exhibit B:		Form of Compliance Certificate
		
	Exhibit C:		Form of Secretary’s/Managing Member’s Certificate
		
	Exhibit D:		Form of Solvency Certificate
		
	Exhibit E:		Form of Assignment and Assumption
		
	Exhibits F-1 – F-4:		Forms of U.S. Tax Compliance Certificate
		
	Exhibit G:		[Reserved]
		
	Exhibit H-1:		Form of Revolving Loan Note
		
	Exhibit H-2:		Form of Swingline Loan Note
		
	Exhibit I:		Form of Transaction Report
		
	Exhibit J:		Form of Collateral Information Certificate
		
	Exhibit K:		Form of Notice of Borrowing
		
	Exhibit L:		Form of Notice of Conversion/Continuation

  
 -v- 

 CREDIT AGREEMENT 

THIS CREDIT AGREEMENT (this “Agreement”), dated as of August 13, 2014, is entered into by and among
(a) FITBIT, INC., a Delaware corporation (the “Borrower”), (b) the several banks and other financial institutions or entities from time to time parties to this Agreement (each a
“Lender” and, collectively, the “Lenders”), (c) SILICON VALLEY BANK (“SVB”), as the Issuing Lender and the Swingline Lender, (d) SVB, as administrative
agent for the Lenders (in such capacity, the “Administrative Agent”), (e) SVB and SUNTRUST BANK (“SunTrust “), as co-collateral agents for the Lenders (in such
capacity, each a “Collateral Agent” and collectively, the “Collateral Agents”), (f) SUNTRUST and MORGAN STANLEY SENIOR FUNDING, INC. (“Morgan
Stanley”), as co-syndication agents for the Lenders (in such capacity, each a “Syndication Agent” and collectively, the “Syndication Agents”), and (g) SVB, SUNTRUST
ROBINSON HUMPHREY, INC., and MORGAN STANLEY, as co-lead arrangers and joint bookrunners (in such capacities, collectively, the “Arrangers”). 

RECITALS: 

WHEREAS, the Borrower, the Existing Lenders (as hereinafter defined), the Administrative Agent, the Collateral Agents, the Issuing
Lender and the Swingline Lender are parties to that certain Credit Agreement, dated as of February 27, 2014 (as the same has been amended, restated, supplemented or otherwise modified from time to time prior to the Closing Date, the
“Existing Credit Agreement”); 
 WHEREAS, the Borrower desires to obtain financing to refinance the
Subordinated Loan Agreement (as hereinafter defined), as well as for working capital financing and letter of credit facilities; 

WHEREAS, the Lenders have agreed to extend a revolving loan facility to the Borrower, upon the terms and conditions specified in this
Agreement, in an aggregate amount not to exceed $180,000,000, with a letter of credit sub- facility in the aggregate availability amount of $50,000,000 (as a sublimit of the revolving loan facility) and a swingline sub-facility in the aggregate
availability amount of $25,000,000 (as a sublimit of the revolving loan facility); 
 WHEREAS, each Loan Party has agreed to secure
all of its respective Obligations by granting to the Administrative Agent, for the ratable benefit of the Secured Parties, a first priority lien (subject to Liens permitted by the Loan Documents and, with respect to priority, subject to the
Intercreditor Agreement) in substantially all of its respective personal property assets (other than any Excluded Assets) pursuant to the terms of the Guarantee and Collateral Agreement and the other Security Documents; and 

WHEREAS, each of the Guarantors has agreed to guarantee the Obligations of the Borrower and to secure its respective Secured
Obligations by granting to the Administrative Agent, for the ratable benefit of the Secured Parties, a first priority lien (subject to Liens permitted by the Loan Documents and, with respect to priority, subject to the Intercreditor Agreement) in
substantially all of such Guarantor’s personal property assets (other than any Excluded Assets) pursuant to the terms of the Guarantee and Collateral Agreement and the other Security Documents. 

  
 1 

 NOW, THEREFORE, the parties hereto hereby agree that the Existing Credit Agreement shall
be amended and restated in its entirety to read as follows (it being agreed that this Agreement shall not be deemed to evidence or result in a novation or repayment and reborrowing of the Obligations under, and as defined in, the Existing Credit
Agreement): 
 SECTION 1 

DEFINITIONS 
 1.1
Defined Terms. As used in this Agreement (including the recitals hereof), the terms listed in this Section 1.1 shall have the respective meanings set forth in this Section 1.1. 

“ABR”: for any day, a rate per annum (rounded upwards, if necessary, to the next 1/16 of 1%) equal to the highest of
(a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect for such day plus 0.50%, and (c) the Eurodollar Rate for a Eurodollar Rate Loan having an Interest Period of one (1) month plus
1.00%; provided that in no event shall the ABR be deemed to be less than 3.25%. Any change in the ABR due to a change in the Prime Rate or the Federal Funds Effective Rate shall be effective as of the opening of business on the effective day
of such change in the Prime Rate or the Federal Funds Effective Rate. 
 “ABR Loans”: Loans, the rate of interest
applicable to which is based upon the ABR. 
 “Account Debtor”: any Person who may become obligated to any Person
under, with respect to, or on account of, an Account, chattel paper or general intangible (including a payment intangible). Unless otherwise stated, the term “Account Debtor,” when used herein, shall mean an Account Debtor in respect of an
Account of the Borrower. 
 “Accounts”: all “accounts” (as defined in Article 9 of the UCC) of a Person,
including, without limitation, accounts, accounts receivable, monies due or to become due and obligations in any form (whether arising in connection with contracts, contract rights, instruments, general intangibles, or chattel paper), in each case
whether arising out of goods sold or services rendered or from any other transaction and whether or not earned by performance, now or hereafter in existence, and all documents of title or other documents representing any of the foregoing, and all
collateral security and guaranties of any kind, now or hereafter in existence, given by any Person with respect to any of the foregoing. Unless otherwise stated, the term “Account,” when used herein, shall mean an Account of the Borrower.

 “Administrative Agent”: SVB, as the administrative agent under this Agreement and the other Loan Documents,
together with any of its successors in such capacity. 
 “Affected Lender”: as defined in
Section 2.23. 
 “Affiliate”: with respect to a specified Person, another Person that directly, or
indirectly through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 

“Agent Parties”: is defined in Section 10.2(d)(ii). 

“Agents”: collectively, the Administrative Agent, each Collateral Agent, each Syndication Agent, and each Arranger.

 “Aggregate Exposure”: with respect to any Lender at any time, an amount equal to the sum of (a) the amount
of such Lender’s Revolving Commitment then in effect or, if the Revolving Commitments have been terminated, the amount of such Lender’s Revolving Extensions of Credit then outstanding, and (b) without duplication of clause (a),
the L/C Commitment of such Lender then in effect (as a sublimit of the Revolving Commitment of such Lender). 
 “Aggregate
Exposure Percentage”: with respect to any Lender at any time, the ratio (expressed as a percentage) of such Lender’s Aggregate Exposure at such time to the Aggregate Exposure of all Lenders at such time. 

  
 2 

 “Agreement”: as defined in the preamble hereto. 

“Agreement Currency”: as defined in Section 10.19. 

“Applicable Margin”: commencing on the date on which the Administrative Agent receives copies of the consolidated
financial statements of the Borrower and its Subsidiaries in respect of the first fiscal month of the Borrower ending after the Closing Date, together with a Compliance Certificate in respect thereof as contemplated by Section 6.2(b),
the rate per annum set forth under the relevant column heading below for the applicable Usage Percentage for the prior fiscal month: 
  

									
	 Level
	 	 Usage Percentage
	 	 Applicable Margin

for Eurodollar Loans
	 	 Applicable

Margin for ABR

Loans
	 	 Commitment

Fee Rate

	 I
	 	3 70%	 	2.00%	 	1.00%	 	0.45%
	 II
	 	< 70% 3 30%	 	2.25%	 	1.25%	 	0.35%
	 III
	 	< 30%	 	2.50%	 	1.50%	 	0.25%

 Notwithstanding the foregoing, (a) until the delivery of the first Compliance Certificate required to be
delivered pursuant to Section 6.2(b) in connection with the delivery by the Borrower of the consolidated financial statements required to be delivered to the Administrative Agent pursuant to Sections 6.1(c), the Applicable Margin
shall be the rates corresponding to Level III in the foregoing table, (b) if the Borrower fails to deliver the financial statements required by Section 6.1 and the related Compliance Certificate required by
Section 6.2(b), by the respective date required thereunder after the end of any related fiscal month of the Borrower, the Applicable Margin shall be the rates corresponding to Level III in the foregoing table until such financial
statements and Compliance Certificate are delivered, and (c) no reduction to the Applicable Margin shall become effective at any time when an Event of Default has occurred and is continuing. 

If, as a result of any restatement of or other adjustment to the financial statements of the Loan Parties or for any other reason, the
Administrative Agent determines that (x) the Usage Percentage as calculated by the Borrower as of any applicable date was inaccurate and (y) a proper calculation of the Usage Percentage would have resulted in different pricing for any
period, then: (i) if the proper calculation of the Usage Percentage would have resulted in higher pricing for such period, the Borrower shall automatically and retroactively be obligated to pay to the Administrative Agent, for the benefit of
the applicable Lenders, promptly on demand by the Administrative Agent, an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period;
and (ii) if the proper calculation of the Usage Percentage would have resulted in lower pricing for such period, neither the Administrative Agent nor any Lender shall have any obligation to repay any interest or fees to the Borrower. If the
Administrative Agent makes a determination that the proper calculation of the Usage Percentage would have resulted in higher pricing for any period, then the Administrative Agent will endeavor to provide the Borrower with written notice promptly
following such determination, provided that failure to provide such written notice shall not relieve the Borrower of any obligation to pay any amounts due hereunder. 

“Application”: an application, in such form as the Issuing Lender may specify from time to time, requesting the
Issuing Lender to issue a Letter of Credit. 

  
 3 

 “Application Event”: the occurrence of (a) a failure by Borrower to
repay all of the Obligations in full on the Revolving Termination Date, or (b) an Event of Default and the election by Administrative Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to
Section 8.3. 
 “Approved Fund”: any Fund that is administered or managed by (a) a Lender,
(b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers”: as defined in the preamble hereto. 

“Assignment and Assumption”: an assignment and assumption entered into by a Lender and an Eligible Assignee (with the
consent of any party whose consent is required by Section 10.6), and accepted by the Administrative Agent, in substantially the form of Exhibit E or any other form (including electronic documentation generated by an electronic
platform) approved by the Administrative Agent. 
 “Available Revolving Commitment”: at any time, an amount equal to
(a) the lesser of (i) the Total Revolving Commitments in effect at such time and (ii) the Borrowing Base in effect at such time, minus (b) the sum of (i) the aggregate undrawn amount of all outstanding Letters
of Credit at such time, (ii) the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time, and (iii) the aggregate principal balance of any Loans outstanding at such time;
provided that for purposes of calculating any Lender’s Revolving Extensions of Credit for the purpose of determining such Lender’s available Revolving Commitment pursuant to Section 2.9(b), the aggregate principal amount
of Swingline Loans then outstanding shall be deemed to be zero. 
 “Available Revolving Increase Amount”: as of any
date of determination, an amount equal to the result of (a) $70,000,000 minus (b) the aggregate principal amount of Increases to the Revolving Commitments previously made pursuant to Section 2.12. 

“Bank Services”: any one or more of the following financial products or accommodations extended to any Group Member or
any of its Subsidiaries by any Bank Services Provider: (a) credit cards (including commercial cards (including so-called “purchase cards”, “procurement cards” or “p-cards”)), (b) credit card processing
services, (c) debit cards, (d) stored value cards, (e) cash management services (such as treasury, depository, return items, overdraft, controlled disbursement, merchant store value cards, e-payables services, electronic funds
transfer, interstate depository network, automatic clearing house transfer (including ACH) and other cash management arrangements, in each case as any such products or services may be identified in any Bank Services Provider’s various
agreements related thereto (each, a “Bank Services Agreement”). 
 “Bank Services
Agreement”: as defined in the definition of “Bank Services.” 
 “Bank Services Provider”: the
Administrative Agent, any Lender, or any Affiliate of the foregoing who provides Bank Services to any Group Member, including any Person that was a Lender at the time the Bank Services were provided to any Group Member. 

“Bankruptcy Code”: Title 11 of the United States Code entitled “Bankruptcy.” 

“Benefitted Lender”: as defined in Section 10.7(a). 

“Board”: the Board of Governors of the Federal Reserve System of the United States (or any successor). 

“Borrower”: as defined in the preamble hereto. 

  
 4 

 “Borrowing Base”: as of any date of determination by the Collateral
Agents, from time to time, an amount equal to the sum as of such date of (a) up to (i) 85% of the book value of (A) Eligible Accounts as of such date which are covered by credit insurance satisfactory to the Collateral Agents and the
Lenders and (B) other Eligible Accounts which are not covered by credit insurance but which are approved by the Collateral Agents and the Lenders in their sole discretion on a case-by-case basis, and (ii) 80% of the book value of all other
Eligible Accounts which are not included in clause (i) above, less the amount, if any, of the Dilution Reserve plus (b) up to the lesser of (i) the sum of (A) the lesser of (1) 50% of the value of Eligible
Inventory as of such date valued at the lower of cost (determined on a first in, first out basis) or market and (2) the product of 85% multiplied by the NOLV Percentage identified in the most recent Inventory appraisal ordered and
obtained by the Collateral Agents multiplied by the value (calculated at the lower of cost or market) of Eligible Inventory as of such date (such determination may be made as to different categories of Inventory based upon the NOLV Percentage
applicable to such categories) plus (B) the least of (1) 50% of the value of Eligible In-Transit Inventory as of such date valued at the lower of cost (determined on a first in, first out basis) or market, (2) the product of
85% multiplied by the NOLV Percentage identified in the most recent Inventory appraisal ordered and obtained by the Collateral Agents multiplied by the value (calculated at the lower of cost or market) of Eligible In-Transit Inventory
as of such date (such determination may be made as to different categories of Inventory based upon the NOLV Percentage applicable to such categories), and (3) $5,000,000, and (ii) the lesser of (A) 65% of the amounts included in the
Borrowing Base pursuant to clause (a) above and (B) $ 75,000,000, less (c) in each case, the amount of any Reserves established by the Collateral Agents as of such date; provided that Eligible In-Transit Inventory
shall not be included in the Borrowing Base until such time as the Collateral Agents and the Lenders shall have received (1) satisfactory results of an inventory appraisal of Borrower’s in-transit Inventory conducted by a third party firm
acceptable to the Collateral Agents, (2) satisfactory results of an examination and audit of Borrower’s in-transit Inventory, and (3) satisfactory reporting from Borrower as to in- transit Inventory in form and substance satisfactory to
the Collateral Agents; and provided, further, that the calculation of the Borrowing Base shall be subject to the approval of the Collateral Agents in all respects. 

“Borrowing Base Certificate”: a Transaction Report to be executed and delivered from time to time by the Borrower
pursuant to the terms hereof. 
 “Borrowing Date”: any Business Day specified by the Borrower in a Notice of
Borrowing as a date on which the Borrower requests the relevant Lenders to make Loans hereunder. 
 “BrightPoint
A/P”: as of any date of determination, the total current and accrued accounts payable (whether invoiced or not invoiced) by the Borrower to the Borrower’s principal 3PL provider. 

“BrightPoint Reserve”: a Reserve against the Borrowing Base in an amount equal to the BrightPoint A/P. 

“Business”: as defined in Section 4.17(b). 

“Business Day”: a day other than a Saturday, Sunday or other day on which commercial banks in the State of California
or the State of New York are authorized or required by law to close; provided that with respect to notices and determinations in connection with, and payments of principal and interest on, Eurodollar Loans, such day is also a day for trading
by and between banks in Dollar deposits in the interbank eurodollar market. 
 “Capital Lease Obligations”: as to
any Person, the obligations of such Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP and, for the purposes of this Agreement, the amount of such obligations at any time shall be the capitalized amount thereof at such time determined in accordance with GAAP.

  
 5 

 “Capital Stock”: any and all shares, interests, participations or other
equivalents (however designated) of capital stock of a corporation, any and all equivalent ownership interests in a Person (other than a corporation) and any and all warrants, rights or options to purchase any of the foregoing. 

“Cash Collateralize”: to pledge and deposit with or deliver to (a) with respect to Obligations in respect of
Letters of Credit, the Administrative Agent, for the benefit of the Issuing Lender and one or more of the Lenders, as applicable, as collateral for L/C Exposure or obligations of the Lenders to fund participations in respect thereof, cash or Deposit
Account balances having an aggregate value of at least 105% of the L/C Exposure or, if the Administrative Agent and the Issuing Lender shall agree in their sole discretion, a standby letter of credit, in form and substance reasonably satisfactory to
the Administrative Agent and the Issuing Lender, from a commercial bank acceptable to the Administrative Agent and the Issuing Lender (in their sole discretion) in an amount equal to 105% of the then existing LC Exposure (it being understood that
the LC Fee and all fronting fees set forth in this Agreement will continue to accrue while the Letters of Credit are outstanding and that any such fees that accrue must be an amount that can be drawn under any such standby letter of credit), in each
case pursuant to documentation in form and substance satisfactory to the Administrative Agent and the Issuing Lender; (b) with respect to Obligations arising under any Bank Services Agreement in connection with Bank Services, the Administrative
Agent, for its own or any applicable Bank Services Provider’s benefit, as provider of such Bank Services, cash or Deposit Account balances having an aggregate value of at least 105% of the aggregate amount of the Obligations of the Group
Members arising under all such Bank Services Agreements evidencing such Bank Services; or (c) with respect to Obligations in respect of any Specified Swap Agreements, the applicable Qualified Counterparty, as Collateral for such Obligations,
cash or Deposit Account balances or, if such Qualified Counterparty shall agree in its sole discretion, other credit support, in each case in amounts and pursuant to documentation in form and substance satisfactory to such Qualified Counterparty.
“Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds of such cash collateral and other credit support. 

“Cash Equivalents”: (a) marketable direct obligations issued by, or unconditionally guaranteed by, the United
States Government or issued by any agency thereof and backed by the full faith and credit of the United States, in each case maturing within one year from the date of acquisition; (b) certificates of deposit, time deposits, eurodollar time
deposits or overnight bank deposits having maturities of six months or less from the date of acquisition issued by any Lender or by any commercial bank organized under the laws of the United States or any state thereof having combined capital and
surplus of not less than $ 250,000,000; (c) commercial paper of an issuer rated at least A-1 by S&P or P-1 by Moody’s, or carrying an equivalent rating by a nationally recognized rating agency, if both of the two named rating agencies
cease publishing ratings of commercial paper issuers generally, and maturing within six months from the date of acquisition; (d) repurchase obligations of any Lender or of any commercial bank satisfying the requirements of clause
(b) of this definition, having a term of not more than 30 days, with respect to securities issued or fully guaranteed or insured by the United States government; (e) securities with maturities of one year or less from the date of
acquisition issued or fully guaranteed by any state, commonwealth or territory of the United States, by any political subdivision or taxing authority of any such state, commonwealth or territory or by any foreign government, the securities of which
state, commonwealth, territory, political subdivision, taxing authority or foreign government (as the case may be) are rated at least A by S&P or A by Moody’s; (f) securities with maturities of six months or less from the date of
acquisition backed by standby letters of credit issued by any Lender or any commercial bank satisfying the requirements of clause (b) of this definition; (g) money market mutual or similar funds that invest exclusively in assets
satisfying the requirements of clauses (a) through (f) of this definition; or (h) money market funds that (i) comply with the criteria set forth in SEC Rule 2a-7 under the Investment Company Act of 1940, as amended,
(ii) are rated AAA by S&P and Aaa by Moody’s and (iii) have portfolio assets of at least $5,000,000,000. 

  
 6 

 “Cash Flow Agent” means Morgan Stanley Senior Funding,
Inc., in its capacity as administrative agent for the Cash Flow Lenders under the Cash Flow Credit Agreement, together with its successors and assigns in such capacity. 

“Cash Flow Credit Agreement” shall mean the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014,
by and among the Borrower, the Cash Flow Lenders and the Cash Flow Agent, as such agreement may be amended, supplemented, restated or otherwise modified from time to time in accordance with the terms hereof and the Intercreditor Agreement. 

“Cash Flow Lenders” shall mean the financial institutions and other entities party from time to time to the Cash Flow
Credit Agreement, together with their respective successors, assigns and transferees. 
 “Casualty Event”: any
damage to or any destruction of, or any condemnation or other taking by any Governmental Authority of any property of the Loan Parties. 

“Certificated Securities”: as defined in Section 4.19(a). 

“Change of Control”: (a) At any time, any “person” or “group” (as such terms are used in
Sections 13(d) and 14(d) of the Exchange Act), excluding any one or more of the Permitted Investors, shall become, or obtain rights (whether by means or warrants, options or otherwise) to become, the “beneficial owner” (as defined in Rules
13(d)-3 and 13(d) 5 under the Exchange Act), directly or indirectly, of 50% or more of the ordinary voting power for the election of directors of the Borrower (determined on a fully diluted basis); (b) during any period of 24 consecutive
months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (disregarding individuals who cease to serve due to death or disability and who are not replaced)
(i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause
(i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body, (iii) whose election or nomination to that board or other equivalent governing body was approved by
individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of both clause
(ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or consents for
the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors), or (iv) whose election or nomination to that board or
equivalent governing body was required by a designation by one or more stockholders having the contractual right to designate one or more members of the board or equivalent governing body pursuant to a voting agreement or shareholders’
agreement or similar agreement to which Permitted Investors holding a majority of the shares of the Borrower’s Capital Stock held by all Permitted Investors are party; (c) at any time, the Borrower shall cease to own and control, of record
and beneficially, directly or indirectly, 100% of each class of outstanding Capital Stock of each Guarantor (disregarding minimal numbers of shares held to comply with applicable laws requiring a legal entity to have more than one Equity Interest
holder for the entity to be reorganized) free and clear of all Liens (except Liens created by the Security Documents and Liens permitted by Section 7.3(c) which are non-consensual permitted Liens); or (d) the occurrence of a
“Change of Control” under the Cash Flow Credit Agreement. 
 “Closing Date”: the date on which all of the
conditions precedent set forth in Section 5.1 are satisfied or waived by the Collateral Agents and, as applicable, the Lenders or the Required Lenders. 

“Collateral Agents”: as defined in the preamble hereto. 

  
 7 

 “Code”: the Internal Revenue Code of 1986, as amended from time to time.

 “Collateral”: all property of the Loan Parties, now owned or hereafter acquired, upon which a Lien is purported
to be created by any Security Document. For the avoidance of doubt, no Excluded Asset (as such term is defined in the Guarantee and Collateral Agreement) shall constitute “Collateral.” 

“Collateral Information Certificate”: the Collateral Information Certificate to be executed and delivered by the Loan
Parties pursuant to Section 5.1, substantially in the form of Exhibit J. 
 “Collateral-Related
Expenses”: all costs and expenses of any of the Collateral Agents paid or incurred in connection with any sale, collection or other realization on the Collateral, including reasonable compensation to the Administrative Agent and the
Collateral Agents and their respective agents and counsel, and reimbursement for all other costs, expenses and liabilities and advances made or incurred by any of the Collateral Agents in connection therewith (including as described in
Section 6.6 of the Guarantee and Collateral Agreement), and all amounts for which any Agent is entitled to indemnification under the Security Documents and all advances made by the Administrative Agent under the Security Documents for
the account of any Loan Party. 
 “Commitment Fee”: as defined in Section 2.9(b). 

“Commitment Fee Rate”: shall mean the rate per annum set forth under the relevant column heading under the definition
of “Applicable Margin”. 
 “Communications”: is defined in Section 10.2(d)(ii). 

“Compliance Certificate”: a certificate duly executed by a Responsible Officer of the Borrower substantially in the
form of Exhibit B. 
 “Connection Income Taxes”: Other Connection Taxes that are imposed on or measured by
net income (however denominated) or that are franchise Taxes or branch profits Taxes. 
 “Consolidated Capital
Expenditures”: for any period, with respect to the Borrower and its consolidated Subsidiaries, the aggregate of all expenditures (whether paid in cash or other consideration or accrued as a liability and including that portion of
Capital Lease Obligations which is capitalized on the consolidated balance sheet of the Borrower) by such Group Members during such period for the acquisition or leasing (pursuant to a capital lease) of fixed or capital assets or additions to
equipment (including replacements, capitalized repairs and improvements during such period) that, in conformity with GAAP, are included in “additions to property, plant or equipment” or comparable items reflected in the consolidated
statement of cash flows of the Borrower. 
 “Consolidated EBITDA”: with respect to the Borrower and its consolidated
Subsidiaries for any period, (a) the sum, without duplication, of the amounts for such period of (i) Consolidated Net Income, plus (ii) to the extent deducted in the calculation of Consolidated Net Income, the sum
of (A) Consolidated Interest Expense, plus (B) provisions for taxes based on income, plus (C) total depreciation expense, plus (D) total amortization expense, plus (E) reasonable costs, fees and
expenses in connection with an initial public offering of the Capital Stock of the Borrower, plus (F) non- cash stock compensation expenses, plus (G) non-cash exchange, translation or performance losses relating to any
foreign currency hedging transactions or currency fluctuations, plus (H) costs, fees and expenses (1) in connection with the execution and delivery of this Agreement and the other Loan Documents or (2) paid by any Group Member
after the Closing Date in connection with its obligations under the Loan Documents which are incurred not later than six (6) months after the Closing Date, plus (I) one-time costs, fees, and expenses in connection with Permitted
Acquisitions 

  
 8 

 
or other transactions that if closed, would have constituted a Permitted Acquisition, plus (J) non- cash purchase accounting adjustments (including, but not limited to deferred
revenue write down) and any adjustments as required or permitted by the application of FASB 141 (requiring the use of purchase method of accounting for acquisitions and consolidations), FASB 142 (relating to changes in accounting for the
amortization of good will and certain other intangibles) and FASB 144 (relating to the write downs of long-lived assets), in each case, in connection with Permitted Acquisitions, plus (K) non-cash charges for goodwill and other
intangible write-offs and write-downs in connection with Permitted Acquisitions or otherwise, plus (L) other non-cash or non-recurring items reducing Consolidated Net Income (excluding any such non-cash item to the extent that it represents
an accrual or reserve for potential cash items in any future period or amortization of a prepaid cash item that was paid in a prior period) approved by the Administrative Agent and the Required Lenders in writing as an ‘add back’ to
Consolidated EBITDA, plus (M) charges and expenses related to the recall of the “FitBit Force,” and other cash and non-cash items reducing Consolidated Net Income associated therewith (including costs and expenses associated
with related litigation, claims and administrative proceedings) in an aggregate amount not to exceed $84,600,000 for the fiscal quarter ended December 31, 2013 and $27,900,000 for the fiscal quarter ended March 31, 2014, minus
(b) the sum, without duplication of the amounts for such period of (i) other non-cash items increasing Consolidated Net Income for such period (excluding any such non-cash item to the extent it represents the reversal of an accrual
or reserve for potential cash item in any prior period), plus (ii) interest income; provided that Consolidated EBITDA for any period shall be determined on a Pro Forma Basis. 

“Consolidated Fixed Charge Coverage Ratio”: with respect to the Borrower and its consolidated Subsidiaries for any
period, the ratio of (a) the result of (i) Consolidated EBITDA for such period minus (ii) the sum of (x) the amount of taxes based on income actually paid in cash or required to be paid (net of any cash refunds
received, but only to extent such adjustment would not result in a negative number) during such period,(y) cash dividends and distributions paid to any Person that is not a Loan Party during such period and (z) Consolidated Capital Expenditures
(other than Capital Expenditures to the extent financed with the proceeds of Indebtedness (other than proceeds of Loans)) to (b) Consolidated Fixed Charges for such period. 

“Consolidated Fixed Charges”: with respect to the Borrower and its consolidated Subsidiaries for any period, the
sum (without duplication) of (a) Consolidated Interest Expense accrued for such period (other than interest paid-in-kind, amortization of financing fees, and other non-cash Consolidated Interest Expense), plus (b) payments
made or required to be paid during such period on account of principal of Indebtedness of the Borrower and its consolidated Subsidiaries (excluding Loans under the Revolving Commitments and loans under the Cash Flow Credit Agreement to the extent
the Borrower has the right to continue, reborrow or convert such Loans pursuant to Section 2.13 or the right to continue, reborrow or convert such loans pursuant to the Cash Flow Credit Agreement). 

“Consolidated Interest Expense”: for any period, total interest expense (including that portion of any Capital Lease
Obligations that is treated as interest in accordance with GAAP) of the Borrower and its consolidated Subsidiaries for such period with respect to all outstanding Indebtedness of such Persons (including all commissions, discounts and other fees and
charges owed with respect to letters of credit and bankers’ acceptance financing and net costs under Swap Agreements in respect of interest rates to the extent such net costs are allocable to such period in accordance with GAAP). 

“Consolidated Leverage Ratio”: as at the last day of any period, the ratio of (a) Consolidated Total
Indebtedness on such day to (b) Consolidated EBITDA for such period. 
 “Consolidated Net Income”: for
any period, the consolidated net income (or loss) of the Borrower and its consolidated Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from the calculation of “Consolidated
Net Income” (a) the income (or deficit) of any such Person accrued prior to the date it becomes a Subsidiary of the Borrower or is merged into or 

  
 9 

 
consolidated with the Borrower or one of its Subsidiaries, (b) the income (or deficit) of any such Person (other than a Subsidiary of the Borrower) in which the Borrower or one of its
Subsidiaries has an ownership interest, except to the extent that any such income is actually received by the Borrower or such Subsidiary in the form of dividends or similar distributions, and (c) the undistributed earnings of any Subsidiary of
the Borrower to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or any Requirement of
Law applicable to such Subsidiary or any owner of Capital Stock of such Subsidiary. 
 “Consolidated Total Assets”:
as of any date of determination, the aggregate principal amount of all assets of the Borrower and its consolidated Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP. 

“Consolidated Total Indebtedness”: as of any date of determination, the aggregate principal amount of all Indebtedness
of the Borrower and its consolidated Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP, but excluding any liabilities referred to in clauses (f) and (g) of the definition of
“Indebtedness.” 
 “Contractual Obligation”: as to any Person, any provision of any security issued by
such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control”: the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Control Agreement”: any account control agreement entered into among the depository institution at which a Loan Party
maintains a Deposit Account or the securities intermediary at which a Loan Party maintains a Securities Account, such Loan Party, and the Administrative Agent pursuant to which the Administrative Agent obtains control (within the meaning of the UCC
or any other applicable law) over such Deposit Account or Securities Account and which agreement is otherwise in form and substance reasonably satisfactory to Administrative Agent. 

“Controlled Account”: each Deposit Account and Securities Account that is subject to a Control Agreement in form and
substance reasonably satisfactory to the Administrative Agent and the Issuing Lender. 
 “Debtor Relief Laws”: the
Bankruptcy Code, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other
applicable jurisdictions from time to time in effect. 
 “Default”: any of the events specified in
Section 8.1, whether or not any requirement for the giving of notice, the lapse of time, or both, has been satisfied. 

“Default Rate”: as defined in Section 2.15(c). 

“Defaulting Lender”: subject to Section 2.24(b), any Lender that (a) has failed to (i) fund all
or any portion of its Loans within two (2) Business Days of the date such Loans were required to be funded hereunder unless such Lender notifies the Administrative Agent and the Borrower in writing that such failure is the result of such
Lender’s determination that one or more conditions precedent to funding (each of which conditions precedent, together with any applicable default, shall be specifically identified in such writing) has not been satisfied, or (ii) pay to the
Administrative Agent, the Issuing Lender, the Swingline Lender or any other Lender any other amount required to be paid by it hereunder (including in respect of its participation in 

  
 10 

 
Letters of Credit or Swingline Loans) within two (2) Business Days of the date when due, (b) has notified the Borrower, the Administrative Agent, the Issuing Lender or the Swingline
Lender in writing that it does not intend to comply with its funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and
states that such position is based on such Lender’s reasonable determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public
statement) cannot be satisfied), (c) has failed, within three (3) Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with
its prospective funding obligations hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or
(d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for
the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity;
provided that a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such
ownership interest does not result in or provide such Lender with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental
Authority) to reject, repudiate, disavow or disaffirm any contracts or agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any one or more of clauses (a) through
(d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed to be a Defaulting Lender (subject to Section 2.24(b)) upon delivery of written notice of such determination to the Borrower,
the Issuing Lender, the Swingline Lender and each Lender. 
 “Deferred Payment Obligations”: as defined in
Section 7.2. 
 “Deferred Revenue Liability”: as of any date of determination, the outstanding amount of
deferred revenue liability accrued by Borrower in accordance with GAAP with respect to Accounts associated with Inventory of Borrower that has been shipped FOB destination. 

“Deposit Account”: any “deposit account” as defined in the UCC with such additions to such term as may
hereafter be made. 
 “Deposit Account Control Agreement”: any Control Agreement entered into by the Administrative
Agent, a Loan Party and a financial institution holding a Deposit Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such Deposit Account. 

“Determination Date”: as defined in the definition of “Pro Forma Basis”. 

“Dilution”: as of any date of determination, a percentage, based upon the experience of the immediately prior six
months or such other applicable period to be determined by the Collateral Agents in their sole discretion, that is the result of dividing the Dollar amount of (a) bad debt write-downs, discounts, advertising allowances, credits, or other
dilutive items with respect to Borrower’s Accounts during such period, by (b) Borrower’s billings with respect to Accounts during such period. In the event that the Collateral Agents elect to measure Dilution over a measurement period
other than the prior six months, the Administrative Agent shall endeavor to notify Borrower at or before the time any such materially different period is measured for purposes of determining Dilution, but a non-willful failure of the Administrative
Agent to so notify Borrower shall not be a breach of this Agreement and shall not cause such determination of Dilution to be ineffective. It is understood and agreed that, for purposes of the Borrowing Base for the Closing Date, Dilution was
calculated for a 12-month period. 

  
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 “Dilution Reserve”: as of any date of determination, an amount sufficient
to reduce the advance rate against Eligible Accounts by 1 percentage point for each percentage point by which Dilution is in excess of 5%. 

“Discharge of Obligations”: subject to Section 10.8, means (a) the satisfaction of the Obligations
(including all such Obligations relating to Bank Services and/or Specified Swap Agreements) by the payment in full, in cash (or, with respect to LC Exposure and Bank Services, as applicable, Cash Collateralization in accordance with the terms
hereof) of the principal of and interest on or other liabilities relating to each Loan and any previously provided Bank Services, all fees and all other expenses or amounts payable under any Loan Document (other than inchoate indemnification
obligations and any other obligations which pursuant to the terms of any Loan Document specifically survive repayment of the Loans for which no claim has been made), and other Obligations (including the payment of any termination amount then
applicable (or which would or could become applicable as a result of the repayment of the other Obligations) under any Specified Swap Agreements provided by a Secured Party) under or in respect of Specified Swap Agreements and Bank Services, to the
extent (i) no default or termination event shall have occurred and be continuing thereunder, (ii) any such Obligations in respect of Specified Swap Agreements have, if required by any applicable Qualified Counterparties, been Cash
Collateralized), (b) no Letter of Credit shall be outstanding (or, as applicable, each outstanding and undrawn Letter of Credit has been Cash Collateralized in accordance with the terms hereof), (c) no Obligations in respect of any Bank
Services are outstanding (or, as applicable, all such outstanding Obligations in respect of Bank Services have been Cash Collateralized in accordance with the terms hereof), and (d) the aggregate Revolving Commitments of the Lenders are
terminated. 
 “Disposition”: with respect to any property (including, without limitation, Capital Stock of the
Borrower or any of its Subsidiaries), any sale, lease, Sale Leaseback Transaction, assignment, conveyance, transfer, encumbrance or other disposition thereof and any issuance of Capital Stock of the Borrower or any of its Subsidiaries. The terms
“Dispose” and “Disposed of” shall have correlative meanings. 
 “Disqualified
Stock”: any Capital Stock that, by its terms (or by the terms of any security into which it is convertible, or for which it is exchangeable, in each case at the option of the holder thereof), or upon the happening of any event,
(a) matures or is mandatorily redeemable, pursuant to a sinking fund obligation or otherwise, (b) is redeemable at the option of the holder thereof, in whole or in part, (c) provides for the payment of any dividend in cash or any
scheduled payments of dividends in cash, or (d) is or becomes convertible into or exchangeable for Indebtedness or any other Capital Stock that would constitute Disqualified Stock, in each case, prior to the date that is 181 days after the
Revolving Termination Date. The amount of Disqualified Stock deemed to be outstanding at any time for purposes of this Agreement will be the maximum amount that the Borrower and its Subsidiaries may become obligated to pay upon maturity of, or
pursuant to any mandatory redemption or payment provisions of, such Disqualified Stock or portion thereof, plus accrued dividends. 

“Dollars” and “$”: dollars in lawful currency of the United States. 

“Domestic Subsidiary”: any Subsidiary of any Loan Party organized under the laws of any jurisdiction within the United
States. 
 “Eligible Accounts”: all of the Accounts owned by the Borrower and reflected in the most recent Borrowing
Base Certificate delivered by the Borrower to the Collateral Agents, except any such Account as to which any of the exclusionary criteria set forth below applies. The Collateral Agents shall have the right, at any time and from time to time after
the Closing Date, to establish, modify or eliminate Reserves against 

  
 12 

 
Eligible Accounts, or, acting in its commercially reasonable good faith business judgment, to adjust or supplement any of the criteria set forth below, to establish new criteria, and to adjust
advance rates with respect to Eligible Accounts, to reflect changes in the collectability or realization values of such Accounts. The Collateral Agents shall have the right, at any time and from time to time after the Closing Date, to include in or
exclude from Eligible Accounts (acting in their reasonable credit judgment) groups and types of Accounts, as well as Accounts on a case-by-case basis, which the Collateral Agents may, in their sole discretion, consider upon the Borrower’s
written request. Eligible Accounts shall be calculated net of customer deposits, unapplied cash, taxes, discounts, credits, allowances, and rebates. Except as otherwise may be determined by the Collateral Agents pursuant to the immediately preceding
sentence, Eligible Accounts shall not include any Account of the Borrower: 
 (a) that does not arise from the sale of goods or the
performance of services by the Borrower in the ordinary course of its business; 
 (b) (i) upon which the Borrower’s right to receive
payment is not absolute or is contingent upon the fulfillment of any condition whatsoever (other than any such contingencies or conditions that have already been satisfied) or (ii) as to which the Borrower is not able to bring suit or otherwise
enforce its remedies against the applicable Account Debtor through judicial process or (iii) if the Account represents a progress billing consisting of an invoice for goods sold or services rendered pursuant to a contract under which the
applicable Account Debtor’s obligation to pay is subject to the Borrower’s completion of further performance under such contract or is subject to the equitable lien of a surety bond issuer; 

(c) (i) with respect to which the Account Debtor is a creditor of Borrower or has a right of recoupment or setoff, to the extent of such
claim, right of recoupment or setoff, (ii) to the extent that any defense, counterclaim, setoff or dispute is asserted as to such Account, or (iii) to the extent such Account relates to the sale of Inventory that is subject to (or
reasonably expected to be subject to) a recall; 
 (d) that is not a true and correct statement of bona fide indebtedness incurred in the
amount of the Account for merchandise sold (and shipped) to or services rendered and accepted by the applicable Account Debtor; 
 (e) with
respect to which an invoice, consistent with the Borrower’s past business practices, has not been sent to the applicable Account Debtor; provided that the Borrower shall have provided the Administrative Agent with written notice of any
material change in the form of invoice utilized by the Borrower during the course of its business; 
 (f) that (i) is not owned by the
Borrower or (ii) is subject to any Lien of any other Person, other than (x) Liens in favor of the Administrative Agent (held for the ratable benefit of the Secured Parties) or (y) Liens permitted by Section 7.3 for so long
as such Liens do not have priority over the Liens in favor of the Administrative Agent (held for the ratable benefit of the Secured Parties); 

(g) that arises from a sale to any director, officer, other employee or Affiliate of any Loan Party, or to any entity that has any common
officer or director with any Loan Party; 
 (h) that is the obligation of an Account Debtor that is the United States government or a
political subdivision thereof, or any state, county or municipality or department, agency or instrumentality thereof unless the Collateral Agents, in their sole discretion, have agreed to the contrary in writing and the Borrower, if necessary or
desirable in the reasonable determination of the Collateral Agents, has complied with respect to such obligation with the Federal Assignment of Claims Act of 1940, or any applicable state, county or municipal law restricting assignment thereof; 

  
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 (i) that is the obligation of an Account Debtor located in a foreign country, other than (A)
where such obligation is supported by a letter of credit, assigned and delivered to the Administrative Agent and reasonably satisfactory to the Collateral Agents as to form, amount and issuer, or (B) foreign accounts covered under the EULER
Multi-Markets Business Credit Insurance Policy (the “Policy”) that are within 60 days past due but not greater than 120 days past the invoice date, provided that with respect to this clause (B),
(x) such foreign accounts may be subject to additional eligibility criteria determined by the Collateral Agents in their sole discretion, and (y) availability for such foreign accounts will be calculated based on the individual insurance
limits detailed in the Policy, up to the current Policy amount, less any claims already paid, any applicable coinsurance, and the remaining balance of any unpaid deductible; provided, however, the foregoing to the contrary
notwithstanding, the aggregate book value of Accounts owed by Account Debtors located in a foreign country that is permitted to be included as Eligible Accounts in the Borrowing Base at any one time (after application of the applicable advance rate)
will be limited to $25,000,000 in the aggregate; 
 (j) that is an obligation of an Account Debtor located in the United States that, unless
otherwise agreed by the Collateral Agents in writing on a case by case basis in their sole discretion from time to time, (i) is not covered under the Policy, or (ii) if covered by the Policy, that is (y) in excess of any individual
insurance limits detailed in the Policy or (z) in excess of the current Policy amount, less any claims already paid, any applicable coinsurance (other than certain coinsurance obligations approved the Collateral Agents in writing from
time to time on a case by case basis in their sole discretion), and the remaining balance of any unpaid deductible; 
 (k) to the extent any
Group Member is liable to the applicable Account Debtor related to such Account for goods sold or services rendered or to be rendered to or by such Group Member, but only to the extent of the potential offset; 

(l) that arises with respect to goods that are delivered on a bill-and-hold, cash-on-delivery basis or placed on consignment, guaranteed sale
or other terms by reason of which the payment by the applicable Account Debtor is or may be conditional (but only to the extent that any such delivery condition then applies); 

(m) that is in default, or any other Account if: 

(i) such Account is not paid within ninety (90) days (or 120 days in the case of foreign Accounts not excluded as ineligible pursuant to
clause (i) above) following its original invoice date (irrespective of whether the payment terms relating to such Account permit payment after the 90th day following such original invoice date); provided that, in their sole discretion,
the Collateral Agents may consider, on a case-by-case basis, including as “Eligible Accounts” any Account billed in the fourth quarter of a calendar year which is not paid within one hundred twenty (120) days following its original
invoice date; 
 (ii) the Account Debtor obligated upon such Account suspends business, makes a general assignment for the benefit of
creditors or fails to pay its debts generally as they come due; or 
 (iii) a petition is filed by or against the Account Debtor obligated
upon such Account under any Debtor Relief Law and such petition has not been removed, withdrawn or vacated; 
 (n) that is owed by an
Account Debtor (or its Affiliates) where 50% or more of the aggregate Dollar amount of all Accounts owing by such Account Debtor (or its Affiliates) are ineligible under one or more of the other criteria set forth in this definition; 

(o) as to which the Administrative Agent’s Lien is not a first priority perfected Lien; 

  
 14 

 (p) as to which any of the representations or warranties in the Loan Documents are untrue; 

(q) to the extent such Account exceeds any credit limit established by the any of the Collateral Agents, in their reasonable credit judgment;

 (r) to the extent that such Account, together with all other Accounts owing by such Account Debtor and its Affiliates as of any date of
determination, exceeds (1) with respect to Target, Best Buy and Amazon, 35% of all Eligible Accounts, (2) with respect to Wynit Distributing LLC, 20% of all Eligible Accounts and (3) with respect to each other Account Debtor and its
Affiliates, 10% of all Eligible Accounts; provided, that, in each case, the amount of Eligible Accounts that are excluded because they exceed any of the foregoing percentages shall be determined by the Collateral Agents based on all of the
otherwise Eligible Accounts prior to giving effect to any eliminations based upon the foregoing concentration limits; 
 (s) that is payable
in any currency other than Dollars (unless converted into Dollars on terms reasonably satisfactory to the Collateral Agents); 
 (t) owing
from an Account Debtor the amount of which may be subject to withholding based on the Account Debtor’s satisfaction of the Borrower’s complete performance (but only to the extent of the amount withheld (sometimes called retainage billings)
or that could be so withheld; 
 (u) subject to contractual arrangements between the Borrower and an Account Debtor where payments shall be
scheduled or due according to completion or fulfillment requirements and where the Account Debtor has a right of setoff for damages suffered as a result of the Borrower’s failure to perform in accordance with the contract setting forth such
requirements (sometimes called contracts accounts receivable, progress billings, milestone billings or fulfillment contracts); 
 (v)
subject to trust provisions, subrogation rights of a bonding company or a statutory trust; 
 (w) with respect to which the Account Debtor
is a Sanctioned Person or Sanctioned Entity; or 
 (x) for which any Agent determines, based on its commercially reasonable good faith
business judgment, collection to be doubtful. 
 Any Account which is at any time an Eligible Account, but which subsequently fails to meet
any of the foregoing eligibility requirements, shall forthwith cease to be an Eligible Account until such time as such Account shall again meet all of the foregoing requirements. 

“Eligible Assignee”: any Person that meets the requirements to be an assignee under Section 10.6(b)(iii),
(v) and (vi) (subject to such consents, if any, as may be required under Section 10.6(b)(iii)). 

“Eligible In-Transit Inventory”: those items of Inventory that do not qualify as Eligible Inventory solely because
they are not in a location set forth on Schedule E-1 or in transit among such locations and Borrower does not have actual and exclusive possession thereof, but as to which, 

(a) the Inventory was the subject of a Qualified Import Letter of Credit, 

  
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 (b) such Inventory currently is in transit (whether by vessel, air, or land) from a location
outside of the continental United States to a location in the United States set forth on Schedule E-1, 
 (c) title to such Inventory
has passed to Borrower, 
 (d) such Inventory is insured against types of loss, damage, hazards, and risks, and in amounts, satisfactory to
the Collateral Agents in their commercially reasonable good faith business judgment, 
 (e) such Inventory either (1) is the subject of
a negotiable bill of lading governed by the laws of a state within the United States (x) that is consigned to Administrative Agent or one of its agents (either directly or by means of endorsements), (y) that was issued by the carrier
respecting the subject Inventory, and (z) that either is (I) in the possession of Administrative Agent or a customs broker (in each case in the continental United States), or (II) the subject of a telefacsimile copy that Administrative
Agent has received from the Issuing Lender which issued the applicable Letter of Credit and as to which Administrative Agent also has received a confirmation from such Issuing Lender that such document is in-transit by air-courier to Administrative
Agent or a customs broker (in each case, in the continental United States), or (2) is the subject of a negotiable cargo receipt governed by the laws of a state within the United States and is not the subject of a bill of lading (other than a
negotiable bill of lading consigned to, and in the possession of, a consolidator or Administrative Agent, or their respective agents) and such negotiable cargo receipt (x) is consigned to Administrative Agent or one of its agents (either
directly or by means of endorsements), (y) was issued by a consolidator respecting the subject Inventory, and (z) either is (I) in the possession of Administrative Agent or a customs broker (in each case in the continental United
States), or (II) the subject of a telefacsimile copy that Administrative Agent has received from the Issuing Bank which issued the applicable Letter of Credit and as to which Administrative Agent also has received a confirmation from such Issuing
Lender that such document is in-transit by air-courier to Administrative Agent or a customs broker (in each case, in the continental United States), 

(f) Borrower has provided a certificate to Administrative Agent that certifies that, to the best knowledge of Borrower, such Inventory meets
all of Borrower’s representations and warranties contained in the Loan Documents concerning Eligible In-Transit Inventory, that it knows of no reason why such Inventory would not be accepted by Borrower when it arrives in the continental United
States and that the shipment as evidenced by the documents conforms to the related order documents, and 
 (g) the applicable Letter of
Credit has been drawn upon in full and the Issuing Lender has honored such drawing. 
 Any Inventory which is at any time Eligible
In-Transit Inventory, but which subsequently fails to meet any of the foregoing requirements, shall forthwith cease to be Eligible In-Transit Inventory until such time as such Inventory shall meet all of the foregoing requirements. 

“Eligible Inventory”: Inventory of the Borrower subject to the Lien in favor of the Administrative Agent (held for the
ratable benefit of the Secured Parties) created by the Security Documents, the value of which shall be determined by the Collateral Agents in their commercially reasonable good faith business judgment by taking into consideration, among other
factors, the lowest of its cost (determined on a first in, first out basis), its book value determined in accordance with GAAP and its market value, except any such Inventory as to which any of the exclusionary criteria set forth below applies. The
Collateral Agents shall have the right, at any time and from time to time after the Closing Date, to establish, modify or eliminate Reserves against Eligible Inventory, or acting in their commercially reasonable good faith business judgment, to
adjust or supplement any of the criteria set forth below, to establish new criteria, and to adjust advance rates with respect to Eligible Inventory. Eligible Inventory shall not include any such Inventory of the Borrower that is: 

(a) Inventory as to which Borrower does not have good, valid and marketable title; 

  
 16 

 (b) Inventory consisting of “perishable agricultural commodities” within the meaning of
the Perishable Agricultural Commodities Act of 1930, or on which a Lien has arisen or may arise in favor of agricultural producers under any comparable Laws; 

(c) Inventory which is not owned by the Borrower free and clear of all Liens and rights of others (other than (x) Liens granted in favor
of the Administrative Agent (held for the ratable benefit of the Secured Parties) or (y) Liens permitted by Section 7.3 for so long as such Liens do not have priority over the Liens in favor of the Administrative Agent (held for the
ratable benefit of the Secured Parties), including Inventory located on leaseholds as to which the lessor has not entered into a consent and agreement providing the Administrative Agent with the right to receive notices of default, the right to
repossess such Inventory at any time and such other rights as may be reasonably requested by the Administrative Agent; 
 (d) Inventory that
is obsolete, spoiled, damaged, unusable or otherwise unavailable for sale; 
 (e) Inventory consisting of promotional, marketing, packaging
or shipping materials and supplies; 
 (f) Inventory that fails to meet all Requirements of Law imposed by any Governmental Authority having
regulatory authority over such Inventory or its use or sale; 
 (g) Inventory that is subject to any licensing, patent, royalty, trademark,
trade name or copyright or other proprietary rights agreement with any third party (i) with respect to which the Borrower has received notice of a dispute in respect of any such agreement or arrangement or (ii) as to which any Agent is not
satisfied that such Inventory can be freely sold by Administrative Agent on and after the occurrence of an Event of a Default despite such agreement, arrangement, or rights; 

(h) Inventory that is located at any site if the aggregate book value of Inventory at any such location is less than $100,000; 

(i) Inventory located outside the United States or Canada; 

(j) Inventory that is not located at a location (or in transit between two or more such locations) set forth on Schedule E-1 to this
Agreement; 
 (k) Inventory that is not in the possession of or under the sole control of the Borrower unless held by a third-party bailee
or the Borrower’s principal 3PL provider which has, in each case, executed and delivered a bailee agreement in favor of, and in form and substance reasonably satisfactory to, the Collateral Agents; 

(l) Inventory consisting of accessories, raw materials, supplies or work in progress (other than Kitted Inventory); 

(m) Inventory with respect to which the representations and warranties set forth in Section 4 of the Guarantee and Collateral Agreement
applicable to Inventory are not correct; 
 (n) Inventory in respect of which the Guarantee and Collateral Agreement, after giving effect to
the related filings of financing statements that have then been made, if any, does not or has ceased to create a valid and perfected first priority Lien or security interest in favor of the Administrative Agent, for the ratable benefit of the
Secured Parties, securing the Obligations; 

  
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 (o) Inventory which is comingled with property of a person other than the Borrower; 

(p) Inventory that is unlikely to be sold by the Borrower in the ordinary course of business as evidenced by the most recent Inventory Report,
if any, delivered to the Collateral Agents pursuant to Section 6.3(g); 
 (q) Inventory which any Agent considers, based on its
commercially reasonable good faith business judgment, unacceptable due to age, type, category or quantity or is otherwise ineligible; 
 (r)
Inventory that is slow moving, as determined by the Collateral Agents in their commercially reasonable business judgment based on information available through reporting, appraisals, field exams, industry trends, or otherwise (including, without
limitation, that in the event that aging or other reporting sufficient to enable a determination of age of Borrower’s Inventory is available, Inventory that is aged in excess of 100 days will be ineligible); 

(s) Inventory that is subject to a bill of lading or other document of title; 

(t) Inventory that consists of goods that are restrictive or custom items, goods returned or rejected by Borrower’s customers, bill and
hold goods, defective goods, goods that are the subject of a recall, “seconds,” or Inventory acquired on consignment, or 
 (u)
Inventory that is associated with Accounts with respect to which Borrower has accrued Deferred Revenue Liability, other than Inventory with an aggregate value of up to $7,500,000 in the aggregate at any time outstanding that is associated with
accrued Deferred Revenue Liability. 
 Any Inventory which is at any time Eligible Inventory, but which subsequently fails to meet any of
the foregoing requirements, shall forthwith cease to be Eligible Inventory until such time as such Inventory shall meet all of the foregoing requirements. For the avoidance of doubt, under no circumstance will any Inventory be permitted to
constitute both Eligible Inventory and Eligible In-Transit Inventory. 
 “Employment Wage/Benefit Payment Deposit
Account”: any deposit accounts exclusively used for payroll, payroll taxes or other employee wage and benefit payments to or for the benefit of the Borrower’s employees. 

“Engagement Letter”: the Engagement Letter, dated as of July 14, 2014, between the Borrower and the
Administrative Agent. 
 “Environmental Laws”: any and all foreign, Federal, state, local or municipal laws, rules,
orders, regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of
human health or the environment, as now or may at any time hereafter be in effect. 
 “Environmental
Liability”: any liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective
Subsidiaries directly or indirectly resulting from or based upon (a) a violation of an Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Materials of Environmental Concern,
(c) exposure to any Materials of Environmental 

  
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Concern, (d) the release or threatened release of any Materials of Environmental Concern into the environment, or (e) any contract, agreement or other consensual arrangement pursuant to
which liability is assumed or imposed with respect to any of the foregoing. 
 “Equipment”: all
“equipment” as defined in the UCC with such additions to such term as may hereafter be made, and includes without limitation all machinery, fixtures, goods, vehicles (including motor vehicles and trailers), and any interest in any of the
foregoing. 
 “Equity Interests”: with respect to any Person, all of the shares of capital stock of (or other
ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities
convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any
date of determination. 
 “ERISA”: the Employee Retirement Income Security Act of 1974, including (unless the
context otherwise requires) any rules or regulations promulgated thereunder. 
 “ERISA Affiliate”: each business or
entity which is, or within the last six years was, a member of a “controlled group of corporations,” under “common control” or an “affiliated service group” with any Loan Party within the meaning of Section 414(b),
(c) or (m) of the Code, required to be aggregated with any Loan Party under Section 414(o) of the Code, or is, or within the last six years was, under “common control” with any Loan Party, within the meaning of
Section 4001(a)(14) of ERISA. 
 “ERISA Event”: any of (a) a reportable event as defined in
Section 4043 of ERISA with respect to a Pension Plan, excluding, however, such events as to which the PBGC by regulation has waived the requirement of Section 4043(a) of ERISA that it be notified within 30 days of the occurrence of such
event; (b) the applicability of the requirements of Section 4043(b) of ERISA with respect to a contributing sponsor, as defined in Section 4001(a)(13) of ERISA, to any Pension Plan where an event described in paragraph (9), (10), (11),
(12) or (13) of Section 4043(c) of ERISA is reasonably expected to occur with respect to such plan within the following 30 days; (c) a withdrawal by any Loan Party or any ERISA Affiliate thereof from a Pension Plan or the
termination of any Pension Plan resulting in liability under Sections 4063 or 4064 of ERISA; (d) the withdrawal of any Loan Party or, to the knowledge of any Loan Party, any ERISA Affiliate thereof in a complete or partial withdrawal (within
the meaning of Section 4203 and 4205 of ERISA) from any Multiemployer Plan if there is any potential liability therefore, or the receipt by any Loan Party or, to the knowledge of an Loan Party, any ERISA Affiliate thereof of notice from any
Multiemployer Plan that it is in reorganization or insolvency pursuant to Section 4241 or 4245 of ERISA; (e) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination under Section 4041 or 4041A
of ERISA, or the commencement of proceedings by the PBGC to terminate a Pension Plan or Multiemployer Plan; (f) the imposition of liability on any Loan Party or any ERISA Affiliate thereof pursuant to Sections 4062(e) or 4069 of ERISA or by
reason of the application of Section 4212(c) of ERISA; (g) the failure by any Loan Party or any ERISA Affiliate thereof to make any required contribution to a Pension Plan, or the failure to meet the minimum funding standard of
Section 412 of the Code with respect to any Pension Plan (whether or not waived in accordance with Section 412(c) of the Code) or the failure to make by its due date a required installment under Section 430 of the Code with respect to
any Pension Plan or the failure to make any required contribution to a Multiemployer Plan; (h) the determination that any Pension Plan is considered an at-risk plan or a plan in endangered to critical status within the meaning of Sections 430,
431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (i) an event or condition which might reasonably be expected to constitute grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to 

  
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administer, any Pension Plan or Multiemployer Plan; (j) the imposition of any liability under Title I or Title IV of ERISA, other than PBGC premiums due but not delinquent under
Section 4007 of ERISA, upon any Loan Party or any ERISA Affiliate thereof; (k) an application for a funding waiver under Section 303 of ERISA or an extension of any amortization period pursuant to Section 412 of the Code with
respect to any Pension Plan; (l) the occurrence of a non-exempt prohibited transaction under Sections 406 or 407 of ERISA for which any Loan Party or any Subsidiary thereof may be directly or indirectly liable; (m) the occurrence of an act
or omission which could give rise to the imposition on any Loan Party or any ERISA Affiliate thereof of fines, penalties, taxes or related charges under Chapter 43 of the Code or under Sections 409, 502(c), (i) or (1) or 4071 of ERISA;
(n) the assertion of a material claim (other than routine claims for benefits) against any Pension Plan or the assets thereof, or against any Loan Party or any Subsidiary thereof in connection with any such Pension Plan; (o) receipt from
the IRS of notice of the failure of any Pension Plan to qualify under Section 401(a) of the Code, or the failure of any trust forming part of any Pension Plan to fail to qualify for exemption from taxation under Section 501(a) of the Code;
or (p) the imposition of any lien (or the fulfillment of the conditions for the imposition of any lien) on any of the rights, properties or assets of any Loan Party or any ERISA Affiliate thereof, in either case pursuant to Title I or IV,
including Section 302(f) or 303(k) of ERISA or to Section 401(a)(29) or 430(k) of the Code. 
 “ERISA Funding
Rules”: the rules regarding minimum required contributions (including any installment payment thereof) to Pension Plans, as set forth in Section 412 of the Code and Section 302 of ERISA, with respect to Plan years ending prior
to the effective date of the Pension Protection Act of 2006, and thereafter, as set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Eurocurrency Reserve Requirements”: for any day as applied to a Eurodollar Loan, the aggregate (without duplication)
of the maximum rates (expressed as a decimal fraction) of reserve requirements in effect on such day (including basic, supplemental, marginal and emergency reserves) under any regulations of the Board or other Governmental Authority having
jurisdiction with respect thereto dealing with reserve requirements prescribed for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the Board) maintained by a member bank of the Federal Reserve
System. 
 “Eurodollar Base Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar
Loan, the rate per annum determined by the Administrative Agent by reference to the ICE Benchmark Administration LIBOR Rate (or any successor thereto if the ICE Benchmark Administration is no longer making a LIBOR Rate available)
(“LIBOR”) for deposits (for delivery on the first day of such Interest Period) with a term equivalent to such Interest Period in Dollars, determined as of approximately 11:00 A.M. (London, England time) two (2) Business
Days prior to the beginning of such Interest Period (as set forth by Bloomberg Information Service or any successor thereto or any other commercially available service selected by the Administrative Agent which provides quotations of LIBOR. In the
event that the Administrative Agent determines that LIBOR is not available, the “Eurodollar Base Rate” shall be determined by reference to the rate per annum equal to the offered quotation rate to first class banks in the London interbank
market by SVB for deposits (for delivery on the first day of the relevant Interest Period) in Dollars of amounts in same day funds comparable to the principal amount of the applicable Loan of the Administrative Agent, in its capacity as a Lender,
for which the Eurodollar Base Rate is then being determined with maturities comparable to such period as of approximately 11:00 A.M. (London, England time) two (2) Business Days prior to the beginning of such Interest Period. 

“Eurodollar Loans”: Loans the rate of interest applicable to which is based upon the Eurodollar Rate. 

“Eurodollar Rate”: with respect to each day during each Interest Period pertaining to a Eurodollar Loan, a rate per
annum determined for such day in accordance with the following formula: 

                       
 Eurodollar Base Rate                         

1.00 - Eurocurrency Reserve Requirements 

  
 20 

 The Eurodollar Rate shall be adjusted automatically as of the effective date of any change in the
Eurocurrency Reserve Requirements which affect Eurodollar Loans to be made as of, and ABR Loans to be converted into Eurodollar Loans, in any such case, at the beginning of the next applicable Interest Period. 

“Eurodollar Tranche”: the collective reference to Eurodollar Loans under the Revolving Facility (other than the L/C
Facility), the then current Interest Periods with respect to all of which begin on the same date and end on the same later date (whether or not such Loans shall originally have been made on the same day). 

“Event of Default”: any of the events specified in Section 8.1; provided that any requirement for
the giving of notice, the lapse of time, or both, has been satisfied. 
 “Exchange Act”: the Securities Exchange Act
of 1934, as amended from time to time and any successor statute. 
 “Excluded Assets”: as defined in the Guarantee
and Collateral Agreement. 
 “Excluded Foreign Subsidiary”: in respect of any Loan Party, any Subsidiary of such
Loan Party, at any date of determination, (a) that is a “controlled foreign corporation” as defined in Section 957 of the Code, or (b) that is a Subsidiary of a “controlled foreign corporation” as defined in
Section 957 of the Code. 
 “Excluded Swap Obligation” shall mean, with respect to any Guarantor, any guarantee
of any Swap Obligations under a Swap Agreement if, and only to the extent that and for so long as, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such Swap Obligation under a
Swap Agreement (or any guarantee thereof) is or becomes illegal or unlawful under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof)
by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act at the time the guarantee of such Guarantor or the grant of such security interest would
otherwise have become effective with respect to such Swap Obligation under a Swap Agreement but for such Guarantor’s failure to constitute an “eligible contract participant” at such time. 

“Excluded Taxes”: any of the following Taxes imposed on or with respect to a Recipient or required to be withheld or
deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in any such case (i) to the extent imposed as a result of such Recipient being
organized under the laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof), or (ii) to the extent constituting
Other Connection Taxes; (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Revolving Commitment pursuant to a law in
effect on the date on which (i) such Lender acquires such interest in the Loan or Revolving Commitment (other than pursuant to an assignment request by the Borrower under Section 2.23) or (ii) such Lender changes its lending
office, except in each case to the extent that, pursuant to Section 2.20, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender
immediately before it changed its lending office; (c) Taxes attributable to such Recipient’s failure to comply with Section 2.20(f); and (d) any U.S. federal withholding Taxes imposed under FATCA. 

“Existing Credit Agreement”: as defined in the preamble hereto. 

  
 21 

 “Existing Lenders”: SVB and the other “Lenders” under and as
defined in the Existing Credit Agreement. 
 “Existing Letters of Credit”: the letters of credit described on
Schedule 1.1B. 
 “Facility”: each of (a) the L/C Facility (which is a sub-facility of the Revolving
Facility), and (b) the Revolving Facility. 
 “FASB ASC”: the Accounting Standards certification of the
Financial Accounting Standards Board. 
 “FATCA”: (a) Sections 1471 through 1474 of the Code, as of the date of
this Agreement (or any amended or successor version that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof, (b) any treaty, law, regulation or
other official guidance enacted in any other jurisdiction, or relating to an intergovernmental agreement between the United States and any other jurisdiction with the purpose (in either case) of facilitating the implementation of clause
(a) above, or (c) any agreement pursuant to the implementation of clauses (a) or (b) above with the United States Internal Revenue Service, the United States government or any governmental or taxation authority
in the United States. 
 “Federal Funds Effective Rate”: for any day, the weighted average of the rates on overnight
federal funds transactions with members of the Federal Reserve System arranged by federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that
is a Business Day, the average of the quotations for the day of such transactions received by SVB from three federal funds brokers of recognized standing selected by it. 

“Fee Letter”: the letter agreement dated as of July 14, 2014, between the Borrower and the Administrative Agent.

 “Flood Laws”: the National Flood Insurance Reform Act of 1994 and related legislation (including the regulations
of the Board of Governors of the Federal Reserve System). 
 “Flow of Funds Agreement”: the spreadsheet or other
similar statement prepared and certified by the Borrower, regarding the disbursement of Revolving Loan proceeds on the Closing Date, the funding and the payment of the fees and expenses of the Agents and the Lenders (including their respective
counsel), and such other matters as may be agreed to by the Borrower, the Administrative Agent, the Agents, and the Lenders. 

“Foreign Currency”: lawful money of a country other than the United States. 

“Foreign Lender”: (a) if the Borrower is a U.S. Person, a Lender that is not a U.S. Person, and (b) if the
Borrower is not a U.S. Person, a Lender that is resident or organized under the laws of a jurisdiction other than that in which the Borrower is resident for tax purposes. 

“Foreign Subsidiary”: in respect of any Loan Party, any Subsidiary of such Loan Party that is not a Domestic
Subsidiary of such Loan Party. 
 “Fronting Exposure”: at any time there is a Defaulting Lender, as applicable,
(a) with respect to the Issuing Lender, such Defaulting Lender’s L/C Percentage of the outstanding L/C Exposure other than L/C Exposure as to which such Defaulting Lender’s participation obligation has been reallocated to other
Lenders or Cash Collateralized in accordance with the terms hereof, and (b) with respect to the Swingline Lender, such Defaulting Lender’s Revolving Percentage of outstanding Swingline Loans made by the Swingline Lender other than
Swingline Loans as to which such Defaulting Lender’s participation obligation has been reallocated to other Lenders. 

  
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 “Fund”: any Person (other than a natural Person) that is (or will be)
engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its activities. 

“GAAP”: generally accepted accounting principles in the United States as in effect from time to time, except that for
purposes of Section 7.1, GAAP shall be determined on the basis of such principles in effect on the date hereof and consistent with those used in the preparation of the most recent audited financial statements referred to in
Section 4.1(b). In the event that any “Accounting Change” (as defined below) shall occur and such change results in a change in the method of calculation of financial covenants, standards or terms in this Agreement, then each
party to this Agreement agrees to enter into negotiations to amend such provisions of this Agreement so as to reflect equitably such Accounting Changes with the desired result that the criteria for evaluating the Borrower’s financial condition
shall be the same after such Accounting Changes as if such Accounting Changes had not been made. Until such time as such an amendment shall have been executed and delivered by the Borrower, the Administrative Agent and the Required Lenders, all
financial covenants, standards and terms in this Agreement shall continue to be calculated or construed as if such Accounting Changes had not occurred. “Accounting Changes” refers to changes in accounting principles required
by the promulgation of any rule, regulation, pronouncement or opinion by the Financial Accounting Standards Board of the American Institute of Certified Public Accountants or, if applicable, the SEC. 

“Governmental Approval”: any consent, authorization, approval, order, license, franchise, permit, certificate,
accreditation, registration, filing or notice, of, issued by, from or to, or other act by or in respect of, any Governmental Authority. 

“Governmental Authority”: the government of the United States of America or any other nation, or of any political
subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or
pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 
 “Group
Members”: the collective reference to the Borrower and its Subsidiaries. 
 “Guarantee and Collateral
Agreement”: the Amended and Restated Guarantee and Collateral Agreement to be executed and delivered by the Borrower and each Guarantor, substantially in the form of Exhibit A. 

“Guarantee Obligation”: as to any Person (the “guaranteeing person”), any obligation,
including a reimbursement, counterindemnity or similar obligation, of the guaranteeing person that guarantees or in effect guarantees, or which is given to induce the creation of a separate obligation by another Person (including any bank under any
letter of credit) that guarantees or in effect guarantees, any Indebtedness, leases, dividends or other obligations (the “primary obligations”) of any other third Person (the “primary obligor”) in any
manner, whether directly or indirectly, including any obligation of the guaranteeing person, whether or not contingent, (i) to purchase any such primary obligation or any property constituting direct or indirect security therefor, (ii) to
advance or supply funds (1) for the purchase or payment of any such primary obligation or (2) to maintain working capital or equity capital of the primary obligor or otherwise to maintain the net worth or solvency of the primary obligor,
(iii) to purchase property, securities or services primarily for the purpose of assuring the owner of any such primary obligation of the ability of the primary obligor to make payment of such primary obligation or (iv) otherwise to assure
or hold harmless the owner of any such primary obligation against loss in respect thereof; provided that the term Guarantee Obligation shall not include endorsements of 

  
 23 

 
instruments for deposit or collection in the ordinary course of business. The amount of any Guarantee Obligation of any guaranteeing person shall be deemed to be the lower of (a) an amount
equal to the stated or determinable amount of the primary obligation in respect of which such Guarantee Obligation is made and (b) the maximum amount for which such guaranteeing person may be liable pursuant to the terms of the instrument
embodying such Guarantee Obligation, unless such primary obligation and the maximum amount for which such guaranteeing person may be liable are not stated or determinable, in which case the amount of such Guarantee Obligation shall be such
guaranteeing person’s maximum reasonably anticipated liability in respect thereof as determined by the Borrower in good faith. 

“Guarantors”: a collective reference to each Subsidiary of the Borrower which has become a Guarantor pursuant to the
Guarantee and Collateral Agreement. 
 “Increase”: as defined in Section 2.12. 

“Increase Joinder”: an instrument, in form and substance reasonably satisfactory to the Administrative Agent, by which
a Lender becomes a party to this Agreement pursuant to Section 2.12. 
 “Incurred”: as defined in the
definition of “Pro Forma Basis”. 
 “Indebtedness”: of any Person at any date, without duplication,
(a) all indebtedness of such Person for borrowed money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such Person’s
business), (c) all obligations of such Person evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to
property acquired by such Person (even though the rights and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations and all
Synthetic Lease Obligations of such Person, (f) all obligations of such Person, contingent or otherwise, as an account party or applicant under or in respect of acceptances, letters of credit, surety bonds or similar arrangements, (g) all
obligations of such Person to purchase, redeem, retire, defease or otherwise make any payment in respect of any Disqualified Stock in such Person or any Capital Stock in any other Person, or any warrant, right or option to acquire such Capital
Stock, valued, in the case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (h) all Guarantee Obligations of such Person in respect of
obligations of the kind referred to in clauses (a) through (g) above, (i) all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such
obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including accounts and contract rights) owned by such Person, whether or not such Person has assumed or become liable for the payment of such
obligation, and (j) the net obligations of such Person in respect of Swap Agreements. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the
extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness expressly provide that such Person is not liable therefor. 

“Indemnified Taxes”: (a) Taxes, other than Excluded Taxes, imposed on or with respect to any payment made by or
on account of any Obligation of any Loan Party under any Loan Document and (b) to the extent not otherwise described in (a), Other Taxes. 

“Indemnitee”: is defined in Section 10.5(b). 

“Insider Indebtedness”: any Indebtedness owing by any Loan Party to any Group Member or officer, director, shareholder
or employee of any Group Member. 

  
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 “Insider Subordinated Indebtedness”: any Insider Indebtedness which is
also Subordinated Indebtedness. 
 “Insolvency Proceeding”: is (a) any case, action or proceeding before any
court or other Governmental Authority relating to bankruptcy, reorganization, insolvency, liquidation, receivership, dissolution, winding-up or relief of debtors, or (b) any general assignment for the benefit of creditors, composition,
marshalling of assets for creditors, or other, similar arrangement in respect of any Person’s creditors generally or any substantial portion of such Person’s creditors, in each case undertaken under U.S. Federal, state or foreign law,
including any Debtor Relief Law. 
 “Intangible Assets”: assets that are considered to be intangible assets under
GAAP, including customer lists, goodwill, computer software, copyrights, trade names, trademarks, patents, franchises, licenses, unamortized deferred charges, unamortized debt discount and capitalized research and development costs. 

“Intellectual Property”: the collective reference to all rights, priorities and privileges relating to intellectual
property, whether arising under United States, multinational or foreign laws or otherwise, including copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses, technology, know-how and processes, and all rights to sue
at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

“Intellectual Property Security Agreement”: an intellectual property security agreement entered into between a Loan
Party and the Administrative Agent pursuant to the terms of the Guarantee and Collateral Agreement in form and substance satisfactory to the Administrative Agent, together with each other intellectual property security agreement and supplement
thereto delivered pursuant to Section 6.12, in each case as amended, restated, supplemented or otherwise modified from time to time. 

“Intercreditor Agreement”: that certain Intercreditor Agreement, dated as of the Closing Date, by and between the
Administrative Agent, the Cash Flow Agent and the Borrower, as amended, restated, modified, or supplemented from time to time with the approval of the Required Lenders. 

“Interest Payment Date”: (a) as to any ABR Loan (including any Swingline Loan), the first Business Day of each
calendar month to occur while such Loan is outstanding and the final maturity date of such Loan, (b) as to any Eurodollar Loan having an Interest Period of three (3) months or less, the last Business Day of such Interest Period, (c) as to
any Eurodollar Loan having an Interest Period longer than three (3) months, each day that is three (3) months (or, if such date is not a Business Day, the Business Day next succeeding such date) after the first day of such Interest Period
and the last Business Day of such Interest Period, and (d) as to any Loan (other than any Revolving Loan that is an ABR Loan and any Swingline Loan), the date of any repayment or prepayment made in respect thereof. 

“Interest Period”: as to any Eurodollar Loan, (a) initially, the period commencing on the borrowing or conversion
date, as the case may be, with respect to such Eurodollar Loan and ending one (1), two (2), three (3) or six (6) months thereafter, as selected by the Borrower in its Notice of Borrowing or Notice of Conversion/Continuation, as the case
may be, given with respect thereto; and (b) thereafter, each period commencing on the last day of the next preceding Interest Period applicable to such Eurodollar Loan and ending one (1), two (2), or three (3) or six (6) months
thereafter, as selected by the Borrower by irrevocable notice to the Administrative Agent in a Notice of Conversion/Continuation not later than 10:00 A.M., Pacific time, on the date that is three (3) Business Days prior to the last day of the
then current Interest Period with respect thereto; provided that all of the foregoing provisions relating to Interest Periods are subject to the following: 

(i) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the next
succeeding Business Day unless the result of such extension would be to carry such Interest Period into another calendar month in which event such Interest Period shall end on the immediately preceding Business Day; 

  
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 (ii) the Borrower may not select an Interest Period under a particular Facility that would
extend beyond the Revolving Termination Date; 
 (iii) any Interest Period that begins on the last Business Day of a calendar month (or on
a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of a calendar month; and 

(iv) the Borrower shall select Interest Periods so as not to require a payment or prepayment of any Eurodollar Loan during an Interest Period
for such Loan. 
 “Interest Rate Agreement”: with respect to any Person, any interest rate swap agreement, interest
rate cap agreement, interest rate collar agreement, interest rate hedging agreement or other similar agreement or arrangement, each of which is (a) for the purpose of hedging the interest rate exposure associated with such Person’s
operations, (b) approved by Administrative Agent, and (c) not for speculative purposes. 
 “Inventory”:
all “inventory,” as such term is defined in the Code, now owned or hereafter acquired by any Loan Party, wherever located, and in any event including inventory, merchandise, goods and other personal property that are held by or on behalf
of any Loan Party for sale or lease or are furnished or are to be furnished under a contract of service, or that constitutes raw materials, work in process, finished goods, returned goods, or materials or supplies of any kind used or consumed or to
be used or consumed in such Loan Party’s business or in the processing, production, packaging, promotion, delivery or shipping of the same, including all supplies and embedded software. 

“Inventory Report”: an Inventory report together with associated supporting details, which report is in form and
substance satisfactory to the Borrower and the Collateral Agents, such determination by the Collateral Agents to be made in the exercise of their reasonable (from the perspective of a secured asset-based lender) business judgment, and which report
shall, among other things, identify inventory on hand, historical sales data, and Inventory of the Borrower that is unlikely to be sold by the Borrower in the ordinary course of business, as evidenced by recent sales activity reports in form and
substance satisfactory to the Collateral Agents. 
 “Inventory Reporting Reserve”: as defined in
Section 6.3(g). 
 “Investments”: as defined in Section 7.7. 

“IRS”: the Internal Revenue Service, or any successor thereto. 

“ISP”: with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice (or such later version thereof as may be in effect at the time of issuance). 

“Issuing Lender”: as the context may require, SVB or any Affiliate thereof, in its capacity as issuer of any Letter of
Credit (including, without limitation, each Existing Letter of Credit), including any other Lender that may become a successor Issuing Lender pursuant to Section 3.12. The Issuing Lender may, in its discretion, arrange for one or more
Letters of Credit to be issued by Affiliates of the Issuing Lender or other financial institutions, in which case the term “Issuing Lender” shall include any such Affiliate or other financial institution with respect to Letters of Credit
issued by such Affiliate or other financial institution. 

  
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 “Issuing Lender Fees”: as defined in Section 3.3(a). 

“Judgment Currency”: as defined in Section 10.19. 

“Kitted Inventory”: Inventory consisting of work-in-process and accessories that are in the process of being kitted or
waiting to be kitted by the Borrower or the Borrower’s principal 3PL provider; provided further that no more than 50% of Eligible Inventory in the aggregate at any time may be attributable to Kitted Inventory (and with any portion
in excess thereof to be disregarded for purposes of calculating the Borrowing Base, after giving effect to all other adjustments). 

“L/C Advance”: each L/C Lender’s funding of its participation in any L/C Disbursement in accordance with its L/C
Percentage of the L/C Commitment. 
 “L/C Commitment”: as to any L/C Lender, the obligation of such L/C Lender, if
any, to purchase an undivided interest in the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit (including to make payments with respect to draws made under any Letter of Credit pursuant to
Section 3.5(b)) in an aggregate principal amount not to exceed the amount set forth under the heading “L/C Commitment” opposite such L/C Lender’s name on Schedule 1.1A or in the Assignment and Assumption or the
Increase Joinder pursuant to which such L/C Lender becomes a party hereto, as the same may be changed from time to time pursuant to the terms hereof. The L/C Commitment is a sublimit of the Revolving Commitment and the aggregate amount of the L/C
Commitments shall not exceed the amount of the Total L/C Commitments at any time. 
 “L/C Disbursements”: a payment
or disbursement made by the Issuing Lender pursuant to a Letter of Credit. 
 “L/C Exposure”: at any time, the sum
of (a) the aggregate undrawn amount of all outstanding Letters of Credit at such time, and (b) the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted into Revolving Loans at such time. The L/C Exposure
of any L/C Lender at any time shall equal its L/C Percentage of the aggregate L/C Exposure at such time. 
 “L/C
Facility”: the L/C Commitments and the extensions of credit made thereunder. 
 “L/C Fee Payment Date”:
as defined in Section 3.3(a). 
 “L/C Lender”: a Lender with an L/C Commitment. 

“L/C Percentage”: as to any L/C Lender at any time, the percentage of the Total L/C Commitments represented by such
L/C Lender’s L/C Commitment, as such percentage may be adjusted as provided in Section 2.23. 
 “L/C-Related
Documents”: collectively, each Letter of Credit (including any Existing Letter of Credit), all applications for any Letter of Credit (and applications for the amendment of any Letter of Credit) submitted by the Borrower to the Issuing
Lender and any other document, agreement and instrument relating to any Letter of Credit, including any of the Issuing Lender’s standard form documents for letter of credit issuances. 

“Lenders”: as defined in the preamble hereto; provided that unless the context otherwise requires, each
reference herein to the Lenders shall be deemed to include the Issuing Lender and the Swingline Lender. 

  
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 “Letter of Credit”: as defined in Section 3.1(a);
provided that such term shall include each Existing Letter of Credit. 
 “Letter of Credit Availability
Period”: the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date. 

“Letter of Credit Fees”: as defined in Section 3.3(a). 

“Letter of Credit Fronting Fees”: as defined in Section 3.3(a). 

“Letter of Credit Maturity Date”: the date occurring 15 days prior to the Revolving Termination Date then in effect
(or, if such day is not a Business Day, the next preceding Business Day). 
 “LIBOR”: as defined in the definition
of “Eurodollar Base Rate.” 
 “Lien”: any mortgage, deed of trust, pledge, hypothecation, collateral
assignment, deposit arrangement, encumbrance, lien (statutory or other), charge or other security interest or any preference, priority or other security agreement or preferential arrangement of any kind or nature whatsoever (including any
conditional sale or other title retention agreement and any capital lease having substantially the same economic effect as any of the foregoing). 

“Liquidity”: at any time, the sum of (a) the aggregate amount of cash or Cash Equivalents held at such
time by any Loan Party in Deposit Accounts or Securities Accounts subject to Control Agreements and maintained with a Bank Services Provider (excluding cash and Cash Equivalents securing letters of credit or subject to any Lien other than Liens
permitted under Section 7.3(a) or (l)), plus (b) the Available Revolving Commitment at such time. 

“Liquidity Report”: a report, in form and substance reasonably satisfactory to the Administrative Agent, delivered by
the Borrower to the Administrative Agent which discloses, as of the date of such report, the amount of Liquidity as of such date. 

“Loan”: any loan made or maintained by any Lender pursuant to this Agreement. 

“Loan Documents”: this Agreement, the Security Documents, the Notes, the Intercreditor Agreement, the Fee Letter, the
Flow of Funds Agreement, the Solvency Certificate, the Collateral Information Certificate, each L/C-Related Document, each Compliance Certificate, each Transaction Report, each Liquidity Report, each Notice of Borrowing, each Notice of
Conversion/Continuation, each Bank Services Agreement, each Specified Swap Agreement, and any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 3.10, and any amendment, waiver, supplement or
other modification to any of the foregoing. 
 “Loan Parties”: each Group Member that is a party to a Loan Document.

 “Material Adverse Effect”: a material adverse effect on (a) the operations, business, assets, properties or
financial condition of the Borrower and its Subsidiaries, taken as a whole, (b) the rights and remedies of the Administrative Agent, any Collateral Agent, or any Lender under any Loan Document, or of the ability of any Loan Party to perform its
respective Obligations under any Loan Document to which it is a party, or (c) the legality, validity, binding effect or enforceability against any Loan Party of any Loan Document to which it is a party. 

  
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 “Materials of Environmental Concern”: any substance, material or waste
that is defined, regulated, governed or otherwise characterized under any Environmental Law as hazardous or toxic or as a pollutant or contaminant (or by words of similar meaning and regulatory effect), any petroleum or petroleum products, asbestos,
polychlorinated biphenyls, urea-formaldehyde insulation, molds or fungus, and radioactivity, radiofrequency radiation at levels known to be hazardous to human health and safety. 

“Minority Lender”: as defined in Section 10.1(b). 

“Moody’s”: Moody’s Investors Service, Inc. 

“Mortgaged Properties”: the real properties as to which, pursuant to Section 6.12(b) or otherwise, the
Administrative Agent, for the benefit of the Secured Parties, shall be granted a Lien pursuant to the Mortgages. 

“Mortgages”: each of the mortgages, deeds of trust, deeds to secure debt or such equivalent documents hereafter
entered into and executed and delivered by one or more of the Loan Parties to the Administrative Agent, in each case, as such documents may be amended, amended and restated, supplemented or otherwise modified, renewed or replaced from time to time
and in form and substance reasonably acceptable to the Administrative Agent. 
 “Multiemployer Plan”: a
“multiemployer plan” (within the meaning of Section 3(37) of ERISA) to which any Loan Party or any ERISA Affiliate thereof makes, is making, or is obligated or has ever been obligated to make, contributions. 

“NOLV Percentage”: as of any date of determination, the percentage of the book value of Borrower’s Inventory that
is estimated to be recoverable in an orderly liquidation of such Inventory net of all associated costs and expenses of such liquidation, such percentage to be determined as to each category of Inventory and to be as specified in the most recent
appraisal received by the Collateral Agents from an appraisal company selected by the Collateral Agents. 
 “Non-Consenting
Lender”: any Lender that does not approve any consent, waiver or amendment that (a) requires the approval of all Affected Lenders in accordance with the terms of Section 10.1 and (b) has been approved by the
Required Lenders. 
 “Non-Defaulting Lender” at any time, each Lender that is not a Defaulting Lender at such time.

 “Note”: a Revolving Loan Note or a Swingline Loan Note. 

“Notice of Borrowing”: a notice substantially in the form of Exhibit K. 

“Notice of Conversion/Continuation”: a notice substantially in the form of Exhibit L. 

“Obligations”: the unpaid principal of and interest on (including interest accruing after the maturity of the Loans
and interest accruing after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like proceeding, relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is allowed
or allowable in such proceeding) the Loans and all other obligations and liabilities (including any fees or expenses that accrue after the filing of any petition in bankruptcy, or the commencement of any insolvency, reorganization or like
proceeding, relating to any Loan Party, whether or not a claim for post-filing or post-petition interest is allowed or allowable in such proceeding) of any Loan Party to any Agent, the Issuing Lender, any other Lender, any Bank Services Provider (in
its capacity as a provider of Bank Services), or any Qualified Counterparty party to a Specified Swap Agreement, whether direct or indirect, absolute or contingent, due or to become due, or now existing or hereafter incurred, which

  
 29 

 
may arise under, out of, or in connection with, this Agreement, any other Loan Document (including, for the avoidance of doubt, any Bank Services Agreement), the Letters of Credit, any Specified
Swap Agreement or any other document made, delivered or given in connection herewith or therewith, whether on account of principal, interest, reimbursement obligations, payment obligations, fees, indemnities, costs, expenses (including all
reasonable and documented fees, charges and disbursements of counsel to any Agent, the Issuing Lender, any other Lender, any Bank Services Provider (to the extent that any applicable Bank Services Agreement requires the reimbursement by any
applicable Group Member of any such expenses), and any Qualified Counterparty party to a Specified Swap Agreement that are required to be paid by any Loan Party pursuant any Loan Document) or otherwise, in each case, irrespective of whether for the
payment of money, whether direct or indirect, absolute or contingent, due or to become due, now existing or hereafter arising, and including all interest not paid when due and all other expenses or other amounts that Borrower is required to pay or
reimburse by the Loan Documents or by law or otherwise in connection with the Loan Documents. For the avoidance of doubt, the Obligations shall not include any obligations arising under any warrants or other equity instruments issued by any Loan
Party to any Lender; provided that Obligations of any Guarantor shall not include any Excluded Swap Obligations. 

“Operating Documents”: for any Person as of any date, such Person’s constitutional documents, formation documents
and/or certificate of incorporation (or equivalent thereof), as certified (if applicable) by such Person’s jurisdiction of formation as of a recent date, and, (a) if such Person is a corporation, its bylaws or memorandum and articles of
association (or equivalent thereof) in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or
similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “OFAC”: The
Office of Foreign Assets Control of the U.S. Department of the Treasury. 
 “Original Loan Documents”: as defined in
Section 10.21. 
 “Other Connection Taxes”: with respect to any Recipient, Taxes imposed as a result of
a present or former connection between such Recipient and the jurisdiction imposing such Tax (other than connections arising from such Recipient having executed, delivered, become a party to, performed its obligations under, received payments under,
received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document, or sold or assigned an interest in any Loan or Loan Document). 

“Other Taxes”: all present or future stamp, court or documentary, intangible, recording, filing or similar Taxes that
arise from any payment made under, from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, or otherwise with respect to, any Loan Document, except any such Taxes that
are Other Connection Taxes imposed with respect to an assignment (other than an assignment made pursuant to Section 2.23). 

“Over advance”: as defined in Section 2.8(a). 

“Participant”: as defined in Section 10.6(d). 

“Participant Register”: as defined in Section 10.6(d). 

“Patriot Act”: the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct
Terrorism (USA PATRIOT ACT) Act of 2001, Title III of Pub. L. 107-56, signed into law October 26, 2001. 

  
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 “Payoff Letter”: a letter, in form and substance satisfactory to the
Administrative Agent, dated as of a date prior to the Closing Date and executed by each of the Subordinated Lenders and the Borrower to the effect that upon receipt by the Subordinated Lenders of the “payoff amount” (however designated)
referenced therein, (a) the obligations of the Group Members under the Subordinated Credit Agreement shall be satisfied in full, (b) the Liens held by the Subordinated Lenders under the Subordinated Loan Agreement shall terminate without
any further action, and (c) the Borrower and the Administrative Agent (and their respective counsel and such counsels’ agents) shall be entitled to file UCC-3 amendment statements, USPTO releases, USCRO releases and any other releases
reasonably necessary to further evidence the termination of such Liens. 
 “PBGC”: the Pension Benefit Guaranty
Corporation, or any successor thereto. 
 “Pension Plan”: an employee pension plan (as defined in Section 3(2)
of ERISA) other than a Multiemployer Plan subject to the provisions of Title IV of ERISA or Sections 412 and 430 of the Code or Sections 302 and 303 of ERISA and in respect of which any Loan Party or any ERISA Affiliate thereof is (or if such plan
were terminated would under Section 4069 of ERISA be deemed to be) a “contributing sponsor” as defined in Section 4001(a)(13) of ERISA. 

“Permitted Acquisition”: as defined in Section 7.8(k). 

“Permitted Investors”: the collective reference to Eric Friedman, David Park, True Ventures II, L.P., Foundry Venture
Capital 2007, L.P., Foundry Group Select Fund, L.P., Softbank Princeville Investment LP, SAP Ventures, Qualcomm Ventures, SoftTech VC II, L.P., and SoftTech VC III, L.P., and each of their respective Affiliates. 

“Permitted Refinancing Indebtedness”: Indebtedness of any Person (“Refinancing Indebtedness”)
issued or incurred by such Person (including by means of the extension or renewal of existing Indebtedness) to refinance, refund, extend, renew or replace existing Indebtedness of such Person (“Refinanced Indebtedness”);
provided that (a) the principal amount of such Refinancing Indebtedness is not greater than the principal amount of such Refinanced Indebtedness plus the amount of any premiums or penalties and accrued and unpaid interest paid
thereon and reasonable fees and expenses, in each case associated with such Refinancing Indebtedness, (b) such Refinancing Indebtedness has a final maturity that is no sooner than, and a weighted average life to maturity (measured as of the
refinancing, renewal, or extension) that is no shorter than, such Refinanced Indebtedness, (c) if such Refinanced Indebtedness or any Guarantee Obligation thereof or any security therefor are subordinated to the Obligations, such Refinancing
Indebtedness and any Guarantee Obligations thereof and any security therefor remain so subordinated on terms no less favorable to the Lenders and the other Secured Parties, (d) the obligors in respect of such Refinanced Indebtedness immediately
prior to such refinancing, refunding extension, renewal or replacement are the only obligors on such Refinancing Indebtedness, (e) the covenants, events of default, and Guaranteed Obligations in respect of such Refinancing Indebtedness and any
Guarantee Obligations which constitute all or a portion of such Refinancing Indebtedness, taken as a whole, are determined in good faith by a Responsible Officer of such Person to be no less favorable to such Person and the Lenders and the other
Secured Parties in any material respect than the covenants and events of default or Guarantee Obligations, if any, applicable to such Refinanced Indebtedness, (f) the terms and conditions of any such modification, refinancing, refunding,
renewal or extension, taken as a whole, are not materially less favorable to the Lenders than the terms and conditions of the Refinanced Indebtedness being modified, refinanced, refunded, renewed or extended (including that the interest rates are
not increased and the amortization schedules are not increased/accelerated), and (g) such Refinancing Indebtedness shall not be on terms that would be prohibited by operation of Section 7.10 if the refinancing of such Refinanced
Indebtedness were effected by way of an amendment to the terms of the Refinanced Indebtedness instead of by way of the issuance of Refinancing Indebtedness. 

  
 31 

 “Person”: any natural Person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Platform”: is
defined in Section 10.2(d)(i). 
 “Platform Contribution License Agreement”: the Platform Contribution
License Agreement, effective as of August 1, 2014, by and between the Borrower and FitBit Holdings, a company organized under the laws of Ireland. 

“Preferred Stock”: the preferred Capital Stock of any Loan Party. 

“Prime Rate”: the rate of interest per annum from time to time published in the money rates section of the Wall Street
Journal or any successor publication thereto as the “prime rate” then in effect; provided that if such rate of interest, as set forth from time to time in the money rates section of the Wall Street Journal, becomes unavailable for
any reason as determined by the Administrative Agent, the “Prime Rate” shall mean the rate of interest per annum announced by SVB as its prime rate in effect at its principal office in the State of California (such SVB announced Prime Rate
not being intended to be the lowest rate of interest charged by SVB in connection with extensions of credit to debtors). 
 “Pro
Forma Basis”: with respect to any calculation or determination for a Loan Party for any period, in making such calculation or determination on the specified date of determination (the “Determination Date”) means:

 (a) pro forma effect will be given to any Indebtedness incurred (“Incurred”) by such Loan Party or any of
its Subsidiaries (including by assumption of then outstanding Indebtedness) or by a Person becoming a Subsidiary after the beginning of the applicable period and on or before the Determination Date to the extent the Indebtedness is outstanding or is
to be Incurred on the Determination Date, as if such Indebtedness had been Incurred on the first day of such period; 
 (b) pro forma
calculations of interest on Indebtedness bearing a floating interest rate will be made as if the rate in effect on the Determination Date (taking into account any Swap Agreement applicable to the Indebtedness) had been the applicable rate for
the entire reference period; and 
 (c) pro forma effect will be given to: (i) any acquisition or disposition of companies,
divisions or lines of businesses by such Loan Party and its Subsidiaries, including any acquisition or disposition of a company, division or line of business since the beginning of the reference period by a Person that became a Subsidiary after the
beginning of the applicable period; and (ii) the discontinuation of any discontinued operations; in each case of clauses (i) and (ii), that have occurred since the beginning of the applicable period and before the Determination Date as if
such events had occurred, and, in the case of any disposition, the proceeds thereof applied, on the first day of such period. To the extent that pro forma effect is to be given to an acquisition or disposition of a company, division or line
of business, the pro forma calculation will be calculated in good faith by a responsible financial or accounting officer of such Loan Party in accordance with Regulation S-X under the Securities Act, based upon the most recent full fiscal
quarter for which the relevant financial information is available. 
 “Projections”: as defined in
Section 6.2(c). 
 “Properties”: as defined in Section 4.17(a). 

“Protective Over advance”: as defined in Section 2.8(b). 

  
 32 

 “Qualified Counterparty”: with respect to any Specified Swap Agreement,
any counterparty thereto that, at the time such Specified Swap Agreement was entered into or as of the Closing Date, was the Administrative Agent or a Lender or an Affiliate of the Administrative Agent or a Lender. 

“Qualified Import Letter of Credit”: a Letter of Credit that (a) is issued to facilitate the purchase by Borrower
of Eligible In-Transit Inventory, (b) is in form and substance acceptable to the Collateral Agents, and (c) is only drawable by the beneficiary thereof by the presentation of, among other documents, either (i) a negotiable bill of
lading, governed by the laws of a state within the United States, that is consigned to the Administrative Agent or one of its agents (either directly or by means of endorsements) and that was issued by the carrier respecting the subject Eligible
In-Transit Inventory, or (ii) a negotiable cargo receipt, governed by the laws of a state within the United States, that is consigned to the Administrative Agent or one of its agents (either directly or by means of endorsements) and that was
issued by a consolidator respecting the subject Eligible In-Transit Inventory; provided, that, in the latter case, no bill of lading shall have been issued by the carrier (other than a bill of lading consigned to the consolidator or to the
Administrative Agent or one of its agents). 
 “Qualified IPO”: the issuance by the Borrower of its common Qualified
Stock in an underwritten primary public offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the Securities Act (whether alone
or in connection with a secondary public offering) and such Equity Interests are listed on a nationally-recognized stock exchange in the United States. 

“Qualified Stock”: any Capital Stock that is not Disqualified Stock. 

“Qualifying Foreign Subsidiary Indebtedness”: any Indebtedness of any Foreign Subsidiary consisting of, in the form
of, or substantially constituting, an asset-based loan facility or equivalent formula-based credit facility (a) under which the maximum aggregate amount of commitments or financial accommodations to be provided for all Foreign Subsidiaries
would not exceed the greater of (i) $18,000,000 and (ii) ten percent (10%) of the Total Revolving Commitments in effect as of the date of the incurrence of such Indebtedness, and (b) the terms of which are generally not
materially less favorable (after adjustment of such terms giving effect to local practice under the laws of the applicable jurisdiction) to the agent and lenders under such facility than are the terms of this Agreement as to both the Administrative
Agent and the Lenders hereunder (and any determination by the Administrative Agent that the terms meet the criteria set forth in this clause (b) shall be dispositive) (the “Facility”); provided, that,
unless waived by such Lender in writing to the Borrower and the Administrative Agent, each such Lender shall have a bona fide right of first refusal (for a period of not less than 10 days after the Lenders’ receipt of written notice of, and a
true, correct and complete copy of, the proposal or commitment letter with respect to, the Facility) to agree to participate in the Facility (it being understood that no Lender shall be obligated to participate in the Facility). 

“Recipient”: any Agent or a Lender, as applicable. 

“Refunded Swingline Loans”: as defined in Section 2.7(b). 

“Register”: is defined in Section 10.6(c). 

“Regulation T”: Regulation T of the Board as in effect from time to time. 

“Regulation U”: Regulation U of the Board as in effect from time to time. 

“Regulation X”: Regulation X of the Board as in effect from time to time. 

  
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 “Related Parties”: with respect to any Person, such Person’s
Affiliates and the partners, directors, officers, employees, agents and advisors of such Person and of such Person’s Affiliates. 

“Replacement Lender”: as defined in Section 2.23. 

“Required Lenders”: at any time: (a) if only one Lender holds the Total Revolving Commitments, such Lender, and
(b) if more than one Lender holds the Total Revolving Commitments, then at least two Lenders (who are not Affiliates of one another if two such Lenders exist) who together hold more than 50% of the Total Revolving Commitments (including,
without duplication, the L/C Commitments) then in effect or, if the Revolving Commitments have been terminated, the Total Revolving Extensions of Credit then outstanding; provided that for the purposes of clause (b), the Revolving
Commitments of, and the portion of the Revolving Loans and participations in L/C Exposure and Swingline Loans held or deemed held by, any Defaulting Lender shall be excluded for purposes of making a determination of Required Lenders. 

“Requirement of Law”: as to any Person, the Operating Documents of such Person, and any law, treaty, rule or
regulation or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Reserves”: as of any date of determination, (a) those reserves that the Collateral Agents may, acting in their
reasonable credit judgment, establish from time to time, including, without limitation, reserves to (i) reflect events, conditions, contingencies or risks which do or may adversely affect (A) the Collateral, (B) the assets of the
Borrower, (C) the Liens (held by the Administrative Agent for the ratable benefit of the Secured Parties) and other rights of the Administrative Agent in the Collateral, and/or (D) the Borrowing Base, (ii) address currency fluctuation
risk with respect to any Accounts of the Borrower payable in foreign currencies, (iii) address any state of facts which the Collateral Agents determine in good faith constitutes or with the passage of time may constitute an Event of Default,
(iv) address accounts payable aged in excess of historical levels, (v) with respect to Eligible In-Transit Inventory, account for (1) the estimated costs relating to unpaid freight charges, warehousing or storage charges, taxes,
duties, and other similar unpaid costs associated with the acquisition of such Eligible In-Transit Inventory, plus (2) the estimated reclamation claims of unpaid sellers of such Eligible In-Transit Inventory and/or (vi) address risk
associated with rebates, discounts, warranty claims, shrinkage and returns, recalls (including, without limitation, with respect to the “FitBit Force”), or other matters that Collateral Agents deem necessary or appropriate to establish and
maintain reserves with respect to against the Borrowing Base, (b) the Inventory Reporting Reserve, (c) the Returns Reserve, and (d) the BrightPoint Reserve. 

“Responsible Officer”: the chief executive officer, president, vice president, chief financial officer, treasurer,
controller or comptroller of an applicable Loan Party, but in any event, with respect to financial matters, the chief financial officer, treasurer, controller or comptroller of such Loan Party. Any document delivered hereunder that is signed by a
Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have
acted on behalf of such Loan Party. 
 “Restricted Payments”: as defined in Section 7.6. 

“Returns Reserve”: a Reserve that the Collateral Agents may, acting in their reasonable credit judgment, establish
from time to time to account for risk of returned merchandise, which Returns Reserve may be implemented by Collateral Agents in their discretion by establishing or increasing Reserves, by implementing eligibility criteria, or any combination thereof
(without duplication). 

  
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 “Revolving Commitment”: as to any Lender, the obligation of such Lender,
if any, to make Revolving Loans and participate in Swingline Loans and Letters of Credit in an aggregate principal amount not to exceed the amount set forth under the heading “Revolving Commitment” opposite such Lender’s name on
Schedule 1.1A or in the Assignment and Assumption or the Increase Joinder pursuant to which such Lender becomes a party hereto, as the same may be changed from time to time pursuant to the terms hereof (including in connection with
assignments and Increases permitted hereunder). The amount of each Lender’s Revolving Commitment shall be reduced on a pro rata basis in accordance with such Lender’s Revolving Percentage upon the reduction of the Total Revolving
Commitments in accordance with the last sentence of the definition thereof. 
 “Revolving Commitment Period”: the
period from and including the Closing Date to the Revolving Termination Date. 
 “Revolving Extensions of Credit”:
as to any Revolving Lender at any time, an amount equal to the sum of (a) the aggregate principal amount of all Revolving Loans held by such Lender then outstanding, plus (b) such Lender’s L/C Percentage of the aggregate
undrawn amount of all outstanding Letters of Credit (including any Existing Letters of Credit) at such time, plus (c) such Lender’s L/C Percentage of the aggregate amount of all L/C Disbursements that have not yet been reimbursed or
converted into Revolving Loans at such time, plus (d) such Lender’s Revolving Percentage of the aggregate principal amount of Swingline Loans then outstanding. 

“Revolving Facility”: the Revolving Commitments and the extensions of credit made thereunder. 

“Revolving Lender”: each Lender that has a Revolving Commitment or that holds Revolving Loans. 

“Revolving Loan Conversion”: as defined in Section 3.5(b). 

“Revolving Loan Funding Office”: the office of the Administrative Agent specified in Section 10.2 or such
other office as may be specified from time to time by the Administrative Agent as its funding office by written notice to the Borrower and the Lenders. 

“Revolving Loan Note”: a promissory note in the form of Exhibit H-1, as it may be amended, supplemented or
otherwise modified from time to time. 
 “Revolving Loans”: as defined in Section 2.4(a). 

“Revolving Percentage”: as to any Revolving Lender at any time, the percentage which such Lender’s Revolving
Commitment then constitutes of the Total Revolving Commitments or, at any time after the Revolving Commitments shall have expired or terminated, the percentage which the aggregate principal amount of such Lender’s Revolving Loans then
outstanding constitutes of the aggregate principal amount of all Revolving Loans then outstanding; provided that in the event that the Revolving Loans are paid in full prior to the reduction to zero of the Total Revolving Commitments, the
Revolving Percentages shall be determined in a manner designed to ensure that the other outstanding Revolving Extensions of Credit shall be held by the Revolving Lenders on a comparable basis. 

“Revolving Termination Date”: August 13, 2018. 

“S&P”: Standard & Poor’s Ratings Services. 

“Sale Leaseback Transaction”: any arrangement with any Person or Persons, whereby in contemporaneous or substantially
contemporaneous transactions a Loan Party sells substantially all of its right, title and interest in any property and, in connection therewith, acquires, leases or licenses back the right to use all or a material portion of such property. 

  
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 “Sanctioned Entity”: (a) a country or a government of a country,
(b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, (d) a Person resident in or determined to be resident in a country, in each case, that is subject to,
or the target of, a country sanctions program administered and enforced by OFAC. 
 “Sanctioned Person”: a Person
named on the list of Specially Designated Nationals maintained by OFAC. 
 “SAM Securities Account Control
Agreement”: the Securities Account Control Agreement, dated as of February 27, 2014, among the Borrower, the Administrative Agent, SVB Asset Management, and U.S. Bank National Association. 

“SEC”: the Securities and Exchange Commission, any successor thereto and any analogous Governmental Authority. 

“Secured Obligations”: as defined in the Guarantee and Collateral Agreement. 

“Secured Parties”: the collective reference to each Agent, the Lenders (including the Issuing Lender in its capacity
as Issuing Lender and any Swingline Lender in its capacity as Swingline Lender), each Bank Services Provider (in its capacity as a provider of Bank Services), and any Qualified Counterparties. 

“Securities Account”: any “securities account” as defined in the UCC with such additions to such term as may
hereafter be made. 
 “Securities Account Control Agreement”: any Control Agreement entered into by the
Administrative Agent, a Loan Party and a securities intermediary holding a Securities Account of such Loan Party pursuant to which the Administrative Agent is granted “control” (for purposes of the UCC) over such Securities Account. 

“Securities Act”: the Securities Act of 1933, as amended from time to time and any successor statute. 

“Security Documents”: the collective reference to (a) the Guarantee and Collateral Agreement, (b) the
Mortgages, (c) the Intellectual Property Security Agreements, (d) the SAM Securities Account Control Agreement, (e) each Deposit Account Control Agreement, (f) each Securities Account Control Agreement, (g) all other security
documents hereafter delivered to the Administrative Agent granting a Lien on any property of any Person to secure the Obligations of any Loan Party arising under any Loan Document, (h) all other security documents hereinafter delivered to the
Administrative Agent, for the benefit of any Bank Services Provider or Qualified Counterparty, or any of its applicable Affiliates granting a Lien on any property of any Person to secure the Obligations of any Group Member arising under any Bank
Services Agreement or any Specified Swap Agreement, and (i) all financing statements, fixture filings, assignments, acknowledgments and other filings, documents and agreements made or delivered pursuant to any of the foregoing. 

“Solvency Certificate”: the Solvency Certificate, dated the Closing Date, delivered to the Administrative Agent and
the Lenders pursuant to Section 5.1(s), which Solvency Certificate shall be in substantially the form of Exhibit D. 

  
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 “Solvent”: when used with respect to any Person, as of any date of
determination, (a) the amount of the “fair value” of the assets of such Person will, as of such date, exceed the amount of all “liabilities of such Person, contingent or otherwise,” as of such date, as such quoted terms are
determined in accordance with applicable federal and state laws governing determinations of the insolvency of debtors, (b) the “present fair saleable value” of the assets of such Person will, as of such date, be greater than the
amount that will be required to pay the liability of such Person on its debts as such debts become absolute and matured, as such quoted terms are determined in accordance with applicable federal and state laws governing determinations of the
insolvency of debtors, (c) such Person will not have, as of such date, an unreasonably small amount of capital with which to conduct its business, and (d) such Person will be able to pay its debts as they mature. For purposes of this
definition, (i) “debt” means liability on a “claim,” and (ii) “claim” means any (x) right to payment, whether or not such a right is reduced to judgment, liquidated, unliquidated, fixed, contingent,
matured, unmatured, disputed, undisputed, legal, equitable, secured or unsecured or (y) right to an equitable remedy for breach of performance if such breach gives rise to a right to payment, whether or not such right to an equitable remedy is
reduced to judgment, fixed, contingent, matured or unmatured, disputed, undisputed, secured or unsecured. 
 “Specified Swap
Agreement”: any Swap Agreement entered into by the Borrower or any of its Subsidiaries and any Qualified Counterparty (or any Person who was a Qualified Counterparty as of the Closing Date or as of the date such Swap Agreement was
entered into) in respect of interest rates to the extent permitted under Section 7.13. 
 “Streamline
Conditions”: as of any date of determination, that no Default or Event of Default has occurred and is continuing, Borrower has Liquidity of greater than $25,000,000. 

“Streamline Period”: the period (a) commencing on the first day of a calendar month (such first day, a
“Streamline Commencement Date”) following the date on which the Borrower provides a Liquidity Report to the Administrative Agent (such date of delivery, the “ Streamline Delivery Date”) indicating, to
the reasonable satisfaction of the Administrative Agent, that at all times on each consecutive day in the immediately preceding calendar month and on each day after the end of such calendar month through the Business Day immediately preceding the
Streamline Delivery Date, that all Streamline Conditions were satisfied and (b) terminating on the earlier to occur of (i) the occurrence of a Default or Event of Default, and (ii) the first calendar day after the Streamline Delivery
Date (a “Streamline Termination Date”) on which it is determined that the Borrower has failed to satisfy any Streamline Condition. Upon the termination of a Streamline Period in accordance with the preceding sentence, the
Borrower must satisfy all of the Streamline Conditions each consecutive day for one (1) entire fiscal quarter as determined by the Administrative Agent in its discretion, prior to entering into a subsequent Streamline Period. The Borrower shall
give the Administrative Agent prior written notice of the Borrower’s election to enter into any such Streamline Period, and each such Streamline Period shall commence on the first day of the calendar month following the date that all of the
Streamline Conditions have been satisfied. 
 “Subordinated Debt Document”: any agreement, certificate, document or
instrument executed or delivered by any Loan Party or any of their respective Subsidiaries and evidencing Subordinated Indebtedness of such Loan Party or such Subsidiary, and any renewals, modifications, or amendments thereof which are approved in
writing by the Administrative Agent and the Required Lenders. 
 “Subordinated Indebtedness”: Indebtedness of a Loan
Party subordinated to the Obligations pursuant to subordination terms (including payment, lien and remedies subordination terms, as applicable) reasonably acceptable to the Required Lenders. 

“Subordinated Lenders”: each of the lenders from time to time party to the Subordinated Loan Agreement. 

  
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 “Subordinated Loan Agreement”: that certain Subordinated Loan and
Security Agreement, dated as of September 28, 2012, by and among the Subordinated Lenders and the Borrower, as amended, restated, modified, or supplemented from time to time. 

“Subsidiary”: as to any Person, a corporation, partnership, limited liability company or other entity of which shares
of stock or other ownership interests having ordinary voting power (other than stock or such other ownership interests having such power only by reason of the happening of a contingency) to elect a majority of the board of directors or other
managers of such corporation, partnership or other entity are at the time owned, or the management of which is otherwise controlled, directly or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise qualified, all
references to a “Subsidiary” or to “Subsidiaries” in this Agreement shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Surety Indebtedness”: as of any date of determination, indebtedness (contingent or otherwise) owing to sureties
arising from surety bonds issued on behalf of any Loan Party or its respective Subsidiaries as support for, among other things, their contracts with customers, whether such indebtedness is owing directly or indirectly by such Loan Party or any such
Subsidiary. 
 “SVB”: as defined in the preamble hereto. 

“Swap Agreement”: any agreement with respect to any swap, hedge, forward, future or derivative transaction or option
or similar agreement (including without limitation, any Interest Rate Agreement) involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices
or measures of economic, financial or pricing risk or value or any similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by
current or former directors, officers, employees or consultants of the Borrower and its Subsidiaries shall be deemed to be a “Swap Agreement.” 

“Swap Termination Value”: in respect of any one or more Swap Agreements, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Agreements, (a) for any date on or after the date such Swap Agreements have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Agreements, as determined based upon one or more mid-market or other readily available quotations provided
by any recognized dealer in such Swap Agreements (which may include a Qualified Counterparty). 
 “Swingline
Commitment”: the obligation of the Swingline Lender to make Swingline Loans pursuant to Section 2.6 in an aggregate principal amount at any one time outstanding not to exceed $25,000,000. 

“Swingline Lender”: SVB, in its capacity as the lender of Swingline Loans. 

“Swingline Loan Note”: a promissory note in the form of Exhibit H-2, as it may be amended, supplemented or
otherwise modified from time to time. 
 “Swingline Loans”: as defined in Section 2.6. 

“Swingline Participation Amount”: as defined in Section 2.7(c). 

“Syndication Agents”: as defined in the preamble hereto. 

  
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 “Synthetic Lease Obligation”: the monetary obligation of a Person under
(a) a so-called synthetic, off- balance sheet or tax retention lease or (b) an agreement for the use of property creating obligations that do not appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of
such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

“Taxes”: all present or future taxes, levies, imposts, duties, deductions, withholdings (including backup
withholding), assessments, fees or other charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Total Credit Exposure”: is, as to any Lender at any time, the unused Revolving Commitments and Revolving Extensions
of Credit of such Lender at such time. 
 “Total L/C Commitments”: at any time, the sum of all L/C Commitments at
such time, as the same may be reduced from time to time pursuant to Section 2.10 or 3.5(b). The initial amount of the Total L/C Commitments on the Closing Date is $50,000,000. 

“Total Revolving Commitments”: at any time, the aggregate amount of the Revolving Commitments then in effect. The
original amount of the Total Revolving Commitments is $180,000,000. The L/C Commitment and the Swingline Commitment are each sublimits of the Total Revolving Commitments. The Total Revolving Commitments shall be reduced on a dollar-for-dollar basis
by the amount of Qualifying Foreign Subsidiary Indebtedness incurred pursuant to the terms of this Agreement. 
 “Total Revolving
Extensions of Credit”: at any time, the aggregate amount of the Revolving Extensions of Credit outstanding at such time. 

“Trade Date”: is defined in Section 10.6(b)(i)(B). 

“Transaction Report”: a report in substantially the form of Exhibit I, or in such other form as shall be
acceptable in form and substance to the Collateral Agents. 
 “Transactions”: as defined in
Section 5.1(b). 
 “Transferee”: any Eligible Assignee or Participant. 

“Type”: as to any Loan, its nature as an ABR Loan or a Eurodollar Loan. 

“Unfriendly Acquisition”: any acquisition that has not, at the time of the first public announcement of an offer
relating thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired; except that with respect to any acquisition of a non-U.S. Person, an otherwise friendly acquisition shall not be
deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval prior to the first public announcement of an offer relating to a friendly acquisition. 

“Uniform Commercial Code” or “UCC”: the Uniform Commercial Code (or any similar or equivalent
legislation) as in effect from time to time in the State of New York, or as the context may require, any other applicable jurisdiction. 

“United States” and “U.S.”: the United States of America. 

“Usage Percentage” means the result, expressed as a percentage, of (a) (i) the initial amount of all
Revolving Commitments plus, if applicable, any commitments in respect of Increases to the Revolving Commitments, minus (ii) the sum of (x) the aggregate undrawn amount of all outstanding Letters of Credit at such time,
(y) the aggregate amount of all L/C Disbursements that have not yet been reimbursed or converted 

  
 39 

 
into Revolving Loans at such time, and (z) the aggregate principal balance of any Loans outstanding at such time, divided by (b) the initial amount of all Revolving
Commitments plus, if applicable, any commitments in respect of Increases to the Revolving Commitments. 

“USCRO”: the U.S. Copyright Office. 

“USPTO”: the U.S. Patent and Trademark Office. 

“U.S. Person”: any Person that is a “United States Person” as defined in Section 7701(a)(30) of the
Code. 
 “U.S. Tax Compliance Certificate”: as defined in Section 2.20(f). 

“Withholding Agent”: as applicable, any of any applicable Loan Party and the Administrative Agent, as the context may
require. 
 1.2 Other Definitional Provisions. 

(a) Unless otherwise specified therein, all terms defined in this Agreement shall have the defined meanings when used in the other Loan
Documents or any certificate or other document made or delivered pursuant hereto or thereto. 
 (b) As used herein and in the other Loan
Documents, and in any certificate or other document made or delivered pursuant hereto or thereto, (i) accounting terms relating to any Group Member not defined in Section 1.1 and accounting terms partly defined in
Section 1.1, to the extent not defined, shall have the respective meanings given to them under GAAP, (ii) the words “include,” “includes” and “including” shall be deemed to be followed by the phrase
“without limitation,” (iii) the word “incur” shall be construed to mean incur, create, issue, assume, become liable in respect of or suffer to exist (and the words “incurred” and “incurrence” shall have
correlative meanings), (iv) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, Capital Stock,
securities, revenues, accounts, leasehold interests and contract rights, and (v) references to agreements (including this Agreement) or other Contractual Obligations shall, unless otherwise specified, be deemed to refer to such agreements or
Contractual Obligations as amended, supplemented, restated, amended and restated or otherwise modified from time to time. Notwithstanding the foregoing clause (i), for purposes of determining compliance with any covenant (including the
computation of any financial covenant) contained herein, Indebtedness of any Group Member shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial liabilities
shall be disregarded. 
 (c) The words “hereof,” “herein” and
“hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement, and Section, Schedule and Exhibit references are to this
Agreement unless otherwise specified. The word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any reference herein to any Person shall be
construed to include such Person’s successors and assigns, (ii) all references herein to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement,
(iii) any reference to any law or regulation herein shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. 

  
 40 

 (d) The meanings given to terms defined herein shall be equally applicable to both the singular
and plural forms of such terms. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. 

SECTION 2 
 AMOUNT AND
TERMS OF REVOLVING COMMITMENTS 
 2.1 [Reserved.] 

2.2 [Reserved.] 
 2.3
[Reserved.] 
 2.4 Revolving Commitments. 

(a) Subject to the terms and conditions hereof, each Revolving Lender severally agrees to make revolving credit loans (each, a
“Revolving Loan” and, collectively, the “Revolving Loans”) to the Borrower from time to time during the Revolving Commitment Period in an aggregate principal amount with respect to all such Revolving
Loans at any one time outstanding which, when added to the aggregate outstanding amount of any Revolving Loans, any Swingline Loans, the aggregate undrawn amount of all outstanding Letters of Credit, and the aggregate amount of all L/C Disbursements
that have not yet been reimbursed or converted into Revolving Loans, incurred on behalf of the Borrower and owing to such Lender, does not exceed the lesser of (y) the amount of such Lender’s Revolving Commitment and (z) such
Lender’s Revolving Percentage of the Borrowing Base in effect at such time. In addition, the amount of the Total Revolving Extensions of Credit outstanding at such time shall not exceed the lesser of (i) the Total Revolving
Commitments in effect at such time and (ii) the Borrowing Base in effect at such time. During the Revolving Commitment Period the Borrower may use the Revolving Commitments by borrowing, prepaying the Revolving Loans in whole or in part, and
reborrowing, all in accordance with the terms and conditions hereof. The Revolving Loans may from time to time be Eurodollar Loans or ABR Loans, as determined by the Borrower and notified to the Administrative Agent in accordance with Sections
2.5 and 2.13. Notwithstanding anything to the contrary contained herein, during the existence of an Event of Default, no Revolving Loan may be borrowed as, converted to or continued as a Eurodollar Loan. 

(b) The Borrower shall repay all outstanding Revolving Loans (including all Over advances and Protective Over advances) on the Revolving
Termination Date. 
 (c) All Revolving Loans shall be made only in Dollars. 

2.5 Procedure for Revolving Loan Borrowing. The Borrower may borrow up to the Available Revolving Commitment under the Revolving
Commitments during the Revolving Commitment Period on any Business Day; provided that the Borrower shall give the Administrative Agent an irrevocable Notice of Borrowing (which must be received by the Administrative Agent prior to 10:00 A.M.,
Pacific time, (a) three (3) Business Days prior to the requested Borrowing Date, in the case of Eurodollar Loans, or (b) one (1) Business Day prior to the requested Borrowing Date, in the case of ABR Loans (in each case, with
originals to follow within three (3) Business Days)) (provided that any such Notice of Borrowing of ABR Loans under the Revolving Facility to finance payments under Section 3.5(a) may be given not later than 10:00 A.M.,
Pacific time, on the date of the proposed borrowing), in each such case specifying (i) the amount and Type of Revolving Loans to be borrowed, (ii) the requested Borrowing Date, (iii) in the case of Eurodollar Loans, the respective
amounts of each such Type of Loan and the respective lengths of the initial Interest Period therefor, and (iv) instructions for remittance of the proceeds of the applicable Loans to be borrowed. Unless otherwise agreed by the Administrative
Agent in its sole discretion, no Revolving Loan may be made as, converted into 

  
 41 

 
or continued as a Eurodollar Loan having an Interest Period in excess of one month prior to the date that is 30 days after the Closing Date. Each borrowing of, conversion to or continuation of a
Eurodollar Loan shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less than $1,000,000, such lesser amount). Except as provided in
Sections 3.5(b) and 2.7(b), each borrowing of or conversion to ABR Loans shall be in a principal amount of $500,000 or a whole multiple of $100,000 in excess thereof (or, if the then aggregate Available Revolving Commitments are less
than $1,000,000, such lesser amount). Upon receipt of any such Notice of Borrowing from the Borrower, the Administrative Agent shall promptly notify each Revolving Lender thereof. Each Revolving Lender will make the amount of its pro rata share of
each such borrowing available to the Administrative Agent for the account of the Borrower at the Revolving Loan Funding Office prior to 12:00 P.M., Pacific time, on the Borrowing Date requested by the Borrower in funds immediately available to the
Administrative Agent. Such borrowing will then be made available to the Borrower by the Administrative Agent crediting such account as is designated in writing to the Administrative Agent by the Borrower with the aggregate of the amounts made
available to the Administrative Agent by the Revolving Lenders and in like funds as received by the Administrative Agent or, if so specified in the Flow of Funds Agreement, the Administrative Agent shall wire transfer all or a portion of such
aggregate amounts to the Subordinated Lenders (for application against amounts then outstanding under the Subordinated Loan Agreement), in accordance with the wire instructions specified for such purpose in the Flow of Funds Agreement. No Revolving
Loan which constitutes a Eurodollar Loan will be made on the Closing Date. 
 2.6 Swingline Commitment. Subject to the terms and
conditions hereof, the Swingline Lender agrees to make available a portion of the credit accommodations otherwise available to the Borrower under the Revolving Commitments from time to time during the Revolving Commitment Period by making swing line
loans (each a “Swingline Loan” and, collectively, the “Swingline Loans”) to the Borrower; provided that (a) the aggregate principal amount of Swingline Loans outstanding at any time shall not
exceed the Swingline Commitment then in effect, (b) the Borrower shall not request, and the Swingline Lender shall not make, any Swingline Loan if, after giving effect to the making of such Swingline Loan, the aggregate amount of the Available
Revolving Commitments would be less than zero, and (c) the Borrower shall not use the proceeds of any Swingline Loan to refinance any then outstanding Swingline Loan. During the Revolving Commitment Period, the Borrower may use the Swingline
Commitment by borrowing, repaying and reborrowing, all in accordance with the terms and conditions hereof. Swingline Loans shall be ABR Loans only and shall be made only in Dollars. To the extent not otherwise required by the terms hereof to be
repaid prior thereto, the Borrower shall repay to the Swingline Lender the then unpaid principal amount of each Swingline Loan on the Revolving Termination Date. 

2.7 Procedure for Swingline Borrowing; Refunding of Swingline Loans. 

(a) Whenever the Borrower desires that the Swingline Lender make Swingline Loans the Borrower shall give the Swingline Lender irrevocable
telephonic or electronic notice (which notice must be received by the Swingline Lender not later than 12:00 P.M., Pacific time, on the proposed Borrowing Date) confirmed promptly in writing by a Notice of Borrowing, specifying (i) the amount to
be borrowed, (ii) the requested Borrowing Date (which shall be a Business Day during the Revolving Commitment Period), and (iii) instructions for the remittance of the proceeds of such Loan. Each borrowing under the Swingline Commitment
shall be in an amount equal to $1,000,000 or a whole multiple of $100,000 in excess thereof. Promptly thereafter, on the Borrowing Date specified in a notice in respect of Swingline Loans, the Swingline Lender shall make available to the Borrower an
amount in immediately available funds equal to the amount of the Swingline Loan to be made by depositing such amount in the account designated in writing to the Administrative Agent by the Borrower. Unless a Swingline Loan is sooner refinanced by
the advance of a Revolving Loan pursuant to Section 2.7(b), such Swingline Loan shall be repaid by the Borrower no later than five (5) Business Days after the advance of such Swingline Loan. 

  
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 (b) The Swingline Lender shall, no less frequently than weekly (or on a more frequent basis if so
determined by the Swingline Lender in its sole discretion), on behalf of the Borrower (which hereby irrevocably directs the Swingline Lender to act on its behalf), on one (1) Business Day’s telephonic notice given by the Swingline Lender
no later than 12:00 P.M., Pacific time, and promptly confirmed in writing, request each Revolving Lender to make, and each Revolving Lender hereby agrees to make, a Revolving Loan, in an amount equal to such Revolving Lender’s Revolving
Percentage of the aggregate amount of such Swingline Loan (each a “Refunded Swingline Loan”) outstanding on the date of such notice, to repay the Swingline Lender. Each Revolving Lender shall make the amount of such Revolving
Loan available to the Administrative Agent at the Revolving Loan Funding Office in immediately available funds, not later than 10:00 A.M., Pacific time, one (1) Business Day after the date of such notice. The proceeds of such Revolving Loan
shall immediately be made available by the Administrative Agent to the Swingline Lender for application by the Swingline Lender to the repayment of the Refunded Swingline Loan. The Borrower irrevocably authorizes the Swingline Lender to charge the
Borrower’s accounts with the Administrative Agent (up to the amount available in each such account) immediately to pay the amount of any Refunded Swingline Loan to the extent amounts received from the Revolving Lenders are not sufficient to
repay in full such Refunded Swingline Loan. 
 (c) If prior to the time that the Borrower has repaid the Swingline Loans pursuant to
Section 2.7(a) or a Revolving Loan has been made pursuant to Section 2.7(b), one of the events described in Section 8.1(f) shall have occurred or if for any other reason, as determined by the Swingline Lender in
its sole discretion, Revolving Loans may not be made as contemplated by Section 2.7(b), each Revolving Lender shall, on the date such Revolving Loan was to have been made pursuant to the notice referred to in Section 2.7(b)
or on the date requested by the Swingline Lender (with at least one (1) Business Days’ notice to the Revolving Lenders), purchase for cash an undivided participating interest in the then outstanding Swingline Loans by paying to the
Swingline Lender an amount (the “Swingline Participation Amount”) equal to (i) such Revolving Lender’s Revolving Percentage times (ii) the sum of the aggregate principal amount of the outstanding
Swingline Loans that were to have been repaid with such Revolving Loans. 
 (d) Whenever, at any time after the Swingline Lender has
received from any Revolving Lender such Lender’s Swingline Participation Amount, the Swingline Lender receives any payment on account of the Swingline Loans, the Swingline Lender will distribute to such Lender its Swingline Participation Amount
(appropriately adjusted, in the case of interest payments, to reflect the period of time during which such Lender’s participating interest was outstanding and funded and, in the case of principal and interest payments, to reflect such
Lender’s pro rata portion of such payment if such payment is not sufficient to pay the principal of and interest on all Swingline Loans then due); provided that in the event that such payment received by the Swingline Lender is required
to be returned, such Revolving Lender will return to the Swingline Lender any portion thereof previously distributed to it by the Swingline Lender. 

(e) Each Revolving Lender’s obligation to make the Loans referred to in Section 2.7(b) and to purchase participating
interests pursuant to Section 2.7(c) shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such Revolving Lender or the
Borrower may have against the Swingline Lender, the Borrower or any other Person for any reason whatsoever, (ii) the occurrence of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in
Section 5, (iii) any adverse change in the condition (financial or otherwise) of the Borrower, (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other Revolving Lender, or
(v) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing. 
 (f) The Swingline Lender
may resign at any time by giving 30 days’ prior notice to the Administrative Agent, the Lenders and the Borrower. After the resignation of the Swingline Lender hereunder, the retiring Swingline Lender shall remain a party hereto and shall
continue to have all the rights 

  
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and obligations of the Swingline Lender under this Agreement and the other Loan Documents with respect to Swingline Loans made by it prior to such resignation, but shall not be required to make
any additional Swingline Loans. 
 2.8 Over advances.  

(a) If at any time or for any reason the amount of the Total Revolving Extensions of Credit exceeds the lesser of (x) the amount of
the Total Revolving Commitments then in effect, and (y) the amount of the Borrowing Base then in effect (any such excess, an “Over advance”), the Borrower shall pay the full amount of such Over advance to the
Administrative Agent for application against the Revolving Extensions of Credit in accordance with the terms hereof; provided that any such repayment of an Over advance shall be applied by the Administrative Agent first to repay
Revolving Loans that are ABR Loans and thereafter to Revolving Loans that are Eurodollar Loans. Any prepayment of any Revolving Loan that is a Eurodollar Loan hereunder shall be subject to Borrower’s obligation to pay any amounts owing pursuant
to Section 2.21. 
 (b) Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent, in its
sole discretion, may make Revolving Loans to the Borrower on behalf of the Lenders, so long as the aggregate amount of such Revolving Loans shall not exceed the lesser of (y) 5% of the Borrowing Base and (z) 5% of the Revolving Commitment,
if the Administrative Agent, in its reasonable credit judgment, deems that such Revolving Loans are necessary or desirable (i) to protect all or any portion of the Collateral, (ii) to enhance the likelihood or maximize the amount of
repayment of the Loans and the other Obligations or (iii) to pay any other amount chargeable to the Borrower pursuant to this Agreement (such Revolving Loans, “Protective Over advances”); provided that (A) in
no event shall the Total Revolving Extensions of Credit exceed the amount of the Total Revolving Commitments then in effect and (B) the Borrower shall repay each Protective Over advance on the date which the earlier of (y) the 30th day after the date of incurrence of such Protective Over advance and (z) the date the Required Lenders provide written notice to the Administrative Agent and the Borrower requiring the Borrower
to repay such Protective Over advance. Each applicable Lender shall be obligated to advance to the Borrower its Revolving Percentage of each Protective Over advance made in accordance with this Section 2.8(b). If Protective Over advances
are made in accordance with the preceding sentence, then all Revolving Lenders shall be bound to make, or permit to remain outstanding, such Protective Over advances based upon their Revolving Percentages in accordance with the terms of this
Agreement. All Protective Over advances shall be secured by the Collateral and shall bear interest as provided in this Agreement for Revolving Loans generally. 

2.9 Fees. 
 (a) Upfront
Fee. On or prior to the Closing Date, the Borrower agrees to pay to the Administrative Agent an upfront fee for the account of the Lenders in the amount specified in the Fee Letter. 

(b) Commitment Fee. As additional compensation for the Total Revolving Commitments, the Borrower shall pay to the Administrative Agent
for the account of the Lenders, a fee for the Borrower’s non-use of available funds under the Revolving Facility (the “Commitment Fee”), payable quarterly in arrears on the first day of each calendar quarter occurring
after the Closing Date prior to the Revolving Termination Date, and on the Revolving Termination Date, in an amount equal to the Commitment Fee Rate multiplied by the average unused portion of the Total Revolving Commitments, as reasonably
determined by the Administrative Agent. The unused portion of the Total Revolving Commitments, for purposes of this calculation, shall equal the difference between (i) the Total Revolving Commitments (as reduced from time to time), and
(ii) the sum of (A) the average for the period of the daily closing balance of the Revolving Loans outstanding, (B) the aggregate undrawn amount of all Letters of Credit outstanding at such time, and (C) the aggregate
amount of all L/C Disbursements that have not yet been reimbursed or 

  
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converted into Revolving Loans at such time. For the avoidance of doubt, the outstanding amount of any Swingline Loans shall not be counted towards or considered usage of the Total Revolving
Commitments for purposes of determining the Commitment Fee. 
 (c) Agency Fees. The Borrower agrees to pay to the Administrative
Agent the fees in the amounts and on the dates as set forth in the Fee Letter and to perform any other obligations contained therein. 
 (d)
[Reserved.] 
 (e) Fees Nonrefundable. All fees payable under this Section 2.9 shall be fully earned on the date
paid and nonrefundable. 
 2.10 Termination or Reduction of Total Revolving Commitments; Total L/C Commitments. 

(a) Termination or Reduction of Total Revolving Commitments. The Borrower shall have the right, upon not less than three
(3) Business Days’ written notice delivered to the Administrative Agent, to terminate the Total Revolving Commitments or, from time to time, to reduce the amount of the Total Revolving Commitments; provided that no such termination
or reduction shall be permitted if, after giving effect thereto and to any prepayments of the Revolving Loans and Swingline Loans to be made on the effective date thereof the amount of the Total Revolving Extensions of Credit then outstanding would
exceed the lesser of (A) the Total Revolving Commitments then in effect, and (B) the Borrowing Base then in effect. Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple in excess thereof (or, if the then
Total Revolving Commitments are less than $1,000,000, such lesser amount), and shall reduce permanently the Total Revolving Commitments then in effect; provided that, if in connection with any such reduction or termination of the Total
Revolving Commitments a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.21. Any reduction of the Total Revolving
Commitments shall be applied to the Revolving Commitments of each Lender according to its respective Revolving Percentage. All fees accrued until the effective date of any termination of the Total Revolving Commitments shall be paid on the effective
date of such termination. 
 (b) Termination or Reduction of Total L/C Commitments. The Borrower shall have the right, upon not less
than three (3) Business Days’ written notice delivered to the Administrative Agent, to terminate the Total L/C Commitments available to the Borrower or, from time to time, to reduce the amount of the Total L/C Commitments available to the
Borrower; provided that, in any such case, no such termination or reduction of the Total L/C Commitments shall be permitted if, after giving effect thereto, the Total L/C Commitments shall be reduced to an amount that would result in the
aggregate L/C Exposure exceeding the Total L/C Commitments (as so reduced). Any such reduction shall be in an amount equal to $1,000,000, or a whole multiple in excess thereof (or, if the then Total L/C Commitments are less than $1,000,000, such
lesser amount), and shall reduce permanently the Total L/C Commitments then in effect. Any reduction of the Total L/C Commitments shall be applied to the L/C Commitments of each Lender according to its respective L/C Percentage. All fees accrued
until the effective date of any termination of the Total L/C Commitments shall be paid on the effective date of such termination. 
 2.11
Optional Loan Prepayments. The Borrower may at any time and from time to time prepay the Loans, in whole or in part, without premium or penalty, upon irrevocable notice delivered to the Administrative Agent no later than 10:00 A.M., Pacific
time, three (3) Business Days prior thereto, in the case of Eurodollar Loans, and no later than 10:00 A.M., Pacific time, one (1) Business Day prior thereto, in the case of ABR Loans, which notice shall specify the date and amount of the
proposed prepayment; provided that if a Eurodollar Loan is prepaid on any day other than the last day of the Interest Period applicable thereto, the Borrower shall also pay any amounts owing pursuant to Section 2.21; and
provided, further, that if such 

  
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notice of prepayment indicates that such prepayment is to be funded with the proceeds of a refinancing, such notice of prepayment may be revoked if the financing is not consummated. Upon receipt
of any such notice the Administrative Agent shall promptly notify each relevant Lender thereof. If any such notice is given, the amount specified in such notice shall be due and payable on the date specified therein, together with (except in the
case of Revolving Loans that are ABR Loans and Swingline Loans) accrued interest to such date on the amount prepaid. Partial prepayments of Revolving Loans shall be in an aggregate principal amount of $1,000,000 or a whole multiple thereof. Partial
prepayments of Swingline Loans shall be in an aggregate principal amount of $100,000 or a whole multiple thereof. 
 2.12 Incremental
Facility. 
 (a) At any time during the Revolving Commitment Period, the Borrower may request (but subject to the conditions set forth in
clause (b) below) the Total Revolving Commitment be increased by an amount not to exceed the Available Revolving Increase Amount (each such increase, an “Increase”). The Administrative Agent shall invite each
Lender to increase its Revolving Commitments (it being understood that no Lender shall be obligated to increase its Revolving Commitments) in connection with a proposed Increase. Any Increase shall be in an amount of at least $10,000,000 and
integral multiples of $5,000,000 in excess thereof. Additionally, for the avoidance of doubt, it is understood and agreed that in no event shall the aggregate amount of the Increases to the Total Revolving Commitments exceed $70,000,000 during the
term of the Agreement. 
 (b) Each of the following shall be conditions precedent to any Increase of the Revolving Commitments in connection
therewith: 
 (i) any Increase shall be on the same terms (including the pricing, and maturity date), as applicable, as, and pursuant to
documentation applicable to, the original Revolving Facility; 
 (ii) the Borrower shall have delivered an irrevocable written request for
such Increase at least ten (10) Business Days prior to the requested funding date of such Increase; 
 (iii) each Lender agreeing to
such Increase, the Borrower and the Administrative Agent have signed an Increase Joinder (any Increase Joinder may, with the consent of the Administrative Agent, the Borrower and the Lenders agreeing to such Increase, effect such amendments to this
Agreement and the other Loan Documents as may be necessary or appropriate to effectuate the provisions of this Section 2.12) and the Borrower shall have executed any Notes requested by any Lender in connection with the making of the
Increase (it being understood and agreed that, notwithstanding anything to the contrary in this Agreement or in any other Loan Document, an Increase Joinder reasonably satisfactory to the Collateral Agents, and the amendments to this Agreement
effected thereby (so long as such amendments only implement the increase permitted hereby), shall not require the consent of any Lender other than the Lender(s) agreeing to fund such Increase); 

(iv) each of the conditions precedent set forth in Section 5.2 are satisfied; 

(v) after giving pro forma effect to such Increase and the use of proceeds thereof, (A) no Default or Event of Default shall have
occurred and be continuing at the time of such Increase, (B) the Borrower shall be in compliance with each of the financial covenants set forth in Section 7.1 hereof (calculated with respect to Section 7.1(a) and
(b) as follows (y) as of the end of the most recently ended quarter for which financial statements have been delivered prior to such Increase, (z) as though such Increase were made on the last day of such quarter, (C) if the
most recently ended quarter for which financial statements have been delivered prior to such Increase is a period prior to March 31, 2014, then Borrower and its Subsidiaries shall have a Consolidated Fixed Charge Coverage Ratio of greater than
or equal to 1.10:1.00 for the four quarter period ended on the last day of most recently ended quarter for which financial statements 

  
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have been delivered (calculated as though such Increase were made on the last day of such quarter), and (D) the Borrower shall have delivered to the Administrative Agent a Compliance
Certificate evidencing compliance with the requirements of this clause (v), together with all reasonably detailed calculations demonstrating such compliance; and 

(vi) in connection with such Increase, the Borrower shall pay to Administrative Agent all fees required to be paid pursuant to the terms of
the Fee Letter. 
 (c) Upon the funding of any Increase, (i) all references in this Agreement and any other Loan Document to the
Revolving Loans shall be deemed, unless the context otherwise requires, to include such Increase advanced pursuant to this Section 2.12 and (ii) all references in this Agreement and any other Loan Document to the Revolving
Commitment shall be deemed, unless the context otherwise requires, to include the commitment to advance an amount equal to such Increase pursuant to this Section 2.12. 

(d) The Revolving Loans and Revolving Commitments established pursuant to this Section 2.12 shall constitute Revolving Loans and
Revolving Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from any guarantees and the security interests
created by the Loan Documents. The Borrower shall take any actions reasonably required by Administrative Agent to ensure and demonstrate that the Liens and security interests granted by the Loan Documents continue to be perfected under the Code or
otherwise after giving effect to the establishment of any such new Revolving Commitments. 
 2.13 Conversion and Continuation Options.

 (a) The Borrower may elect from time to time to convert Eurodollar Loans to ABR Loans by giving the Administrative Agent prior
irrevocable notice in a Notice of Conversion/Continuation of such election no later than 10:00 A.M., Pacific time, on the Business Day preceding the proposed conversion date; provided that any such conversion of Eurodollar Loans may only be
made on the last day of an Interest Period with respect thereto. Subject to Section 2.17, the Borrower may elect from time to time to convert ABR Loans to Eurodollar Loans by giving the Administrative Agent prior irrevocable notice in a
Notice of Conversion/Continuation of such election no later than 10:00 A.M., Pacific time, on the third Business Day preceding the proposed conversion date (which notice shall specify the length of the initial Interest Period therefor);
provided that no ABR Loan may be converted into a Eurodollar Loan when any Event of Default has occurred and is continuing. Upon receipt of any such notice, the Administrative Agent shall promptly notify each relevant Lender thereof. 

(b) Subject to Section 2.17, any Eurodollar Loan may be continued as such upon the expiration of the then current Interest Period
with respect thereto by the Borrower giving irrevocable notice in a Notice of Conversion/Continuation to the Administrative Agent by no later than 10:00 A.M., Pacific time, on the date occurring three Business Days preceding the proposed
continuation date and otherwise in accordance with the applicable provisions of the term “Interest Period” set forth in Section 1.1, of the length of the next Interest Period to be applicable to such Loans; provided that
no Eurodollar Loan may be continued as such when any Event of Default has occurred and is continuing; and provided, further, that if the Borrower shall fail to give any required notice as described above in this paragraph or if such
continuation is not permitted pursuant to the preceding proviso, such Loans shall automatically be converted to ABR Loans on the last day of such then expiring Interest Period. Upon receipt of any such notice the Administrative Agent shall promptly
notify each relevant Lender thereof. 

  
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 2.14 Limitations on Eurodollar Tranches. Notwithstanding anything to the contrary in this
Agreement, all borrowings, conversions and continuations of Eurodollar Loans and all selections of Interest Periods shall be in such amounts and be made pursuant to such elections so that, (a) after giving effect thereto, the aggregate
principal amount of the Eurodollar Loans comprising each Eurodollar Tranche shall be equal to $1,000,000 or a whole multiple of $ 100,000 in excess thereof, and (b) no more than seven (7) Eurodollar Tranches shall be outstanding at any one
time. 
 2.15 Interest Rates and Payment Dates. 

(a) Each Eurodollar Loan shall bear interest for each day during each Interest Period with respect thereto at a rate per annum equal to
(i) the Eurodollar Rate determined for such day plus (ii) the Applicable Margin. 
 (b) Each ABR Loan (including any
Swingline Loan) shall bear interest at a rate per annum equal to (i) the ABR plus (ii) the Applicable Margin. 
 (c) During
the continuance of an Event of Default, at the request of the Required Lenders, (i) all outstanding Loans shall bear interest at a rate per annum equal to the rate that would otherwise be applicable thereto pursuant to the foregoing provisions
of this Section 2.15 plus 2.00% (the “Default Rate”) and (ii) the Letter of Credit Fee and other amounts shall be increased by a percentage equal to the Default Rate; provided that the Default Rate
shall apply to all outstanding Loans and the Letter of Credit Fee automatically and without any Required Lender consent therefor upon the occurrence of any Event of Default arising under Section 8.1(a). 

(d) Interest on the outstanding principal amount of each Loan shall be payable in arrears on each Interest Payment Date; provided that
interest accruing pursuant to Section 2.15(c) shall be payable from time to time on demand. 
 2.16 Computation of Interest
and Fees. 
 (a) Interest and fees payable pursuant hereto shall be calculated on the basis of a 360-day year for the actual days
elapsed, except that, with respect to ABR Loans the rate of interest on which is calculated on the basis of the Prime Rate, the interest thereon shall be calculated on the basis of a 365- (or 366-, as the case may be) day year for the actual days
elapsed. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of each determination of a Eurodollar Rate . Any change in the interest rate on a Loan resulting from a change in the ABR or the Eurocurrency
Reserve Requirements shall become effective as of the opening of business on the day on which such change becomes effective. The Administrative Agent shall as soon as practicable notify the Borrower and the relevant Lenders of the effective date and
the amount of each such change in interest rate. 
 (b) Each determination of an interest rate by the Administrative Agent pursuant to any
provision of this Agreement shall be conclusive and binding on the Borrower and the Lenders in the absence of manifest error. The Administrative Agent shall, at the request of the Borrower, deliver to the Borrower a statement showing the quotations
used by the Administrative Agent in determining any interest rate pursuant to Section 2.16(a). 
 2.17 Inability to Determine
Interest Rate. If prior to the first day of any Interest Period, the Administrative Agent or the Required Lenders (after consultation with the Administrative Agent) shall have determined (which determination shall be conclusive and binding upon
the Borrower) in connection with any request for a Eurodollar Loan or a conversion to or a continuation thereof that, by reason of circumstances affecting the relevant market, (a) Dollar deposits are not being offered to banks in the London
interbank market for the applicable amount and Interest Period of such requested Loan or conversion or continuation, as applicable, (b) adequate and reasonable means do not exist for ascertaining the Eurodollar Rate for such

  
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Interest Period, or (c) the Eurodollar Rate determined or to be determined for such Interest Period will not adequately and fairly reflect the cost to such Lenders (as conclusively certified
by such Lenders) of making or maintaining their affected Loans during such Interest Period, then, in any such case (a), (b) or (c), the Administrative Agent shall promptly notify the Borrower and the relevant Lenders thereof as soon as
practicable thereafter. Any such determination shall specify the basis for such determination and shall, in the absence of manifest error, be conclusive and binding for all purposes. Thereafter, (x) any Eurodollar Loans under the relevant
Facility requested to be made on the first day of such Interest Period shall be made as ABR Loans, (y) any Loans under the relevant Facility that were to have been converted on the first day of such Interest Period to Eurodollar Loans shall be
continued as ABR Loans and (z) any outstanding Eurodollar Loans under the relevant Facility shall be converted, on the last day of the then-current Interest Period, to ABR Loans. Until such notice has been withdrawn by the Administrative Agent,
no further Eurodollar Loans under the relevant Facility shall be made or continued as such, nor shall the Borrower have the right to convert Loans under the relevant Facility to Eurodollar Loans. 

2.18 Pro Rata Treatment and Payments. 

(a) Each borrowing by the Borrower from the Lenders hereunder, each payment by the Borrower on account of any commitment fee and any reduction
of the Revolving Commitments shall be made pro rata according to the respective L/C Percentages or Revolving Percentages, as the case may be, of the relevant Lenders. 

(b) [Reserved.] 
 (c) Each
payment (including each prepayment) by the Borrower on account of principal of and interest on the Revolving Loans shall be made pro rata according to the respective outstanding principal amounts of the Revolving Loans then held by the
Revolving Lenders. 
 (d) All payments (including prepayments) to be made by the Borrower hereunder, whether on account of principal,
interest, fees or otherwise, shall be made without condition or deduction for any counterclaim, defense, recoupment or setoff and shall be made prior to 10:00 A.M., Pacific time, on the due date thereof to the Administrative Agent, for the account
of the Lenders, at the applicable Revolving Loan Funding Office, in Dollars and in immediately available funds. The Administrative Agent shall distribute such payments to the Lenders promptly upon receipt in like funds as received. Any payment
received by the Administrative Agent after 10:00 A.M. shall be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue. If any payment hereunder (other than payments on the Eurodollar Loans)
becomes due and payable on a day other than a Business Day, such payment shall be extended to the next succeeding Business Day. If any payment on a Eurodollar Loan becomes due and payable on a day other than a Business Day, the maturity thereof
shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such payment into another calendar month, in which event such payment shall be made on the immediately preceding Business Day. In the case
of any extension of any payment of principal pursuant to the preceding two sentences, interest thereon shall be payable at the then applicable rate during such extension. 

(e) Unless the Administrative Agent shall have been notified in writing by any Lender prior to the date of any borrowing that such Lender will
not make the amount that would constitute its share of such borrowing available to the Administrative Agent, the Administrative Agent may assume that such Lender is making such amount available to the Administrative Agent on such date in accordance
with Section 2, and the Administrative Agent may, in reliance upon such assumption, make available to the Borrower a corresponding amount. If such amount is not in fact made available to the Administrative Agent by the required time on
the Borrowing Date therefor, such Lender and the Borrower severally agree to pay to the Administrative Agent, on demand, such corresponding amount with interest thereon, for each day from and 

  
 49 

 
including the date on which such amount is made available to the Borrower but excluding the date of payment to the Administrative Agent, at (i) in the case of a payment to be made by such
Lender, a rate equal to the greater of (A) the Federal Funds Effective Rate and (B) a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation, and (ii) in the case of a payment
to be made by the Borrower, the rate per annum applicable to ABR Loans under the relevant Facility. If the Borrower and such Lender shall pay such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent
shall promptly remit to the Borrower the amount of such interest paid by the Borrower for such period. If such Lender pays its share of the applicable borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s
Loan included in such borrowing. Any payment by the Borrower shall be without prejudice to any claim the Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(f) Unless the Administrative Agent shall have received notice from the Borrower prior to the date on which any payment is due to the
Administrative Agent for the account of the Lenders or the Issuing Lender hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower is making such payment on such date in accordance herewith and
may, in reliance upon such assumption, distribute to the Lenders or the Issuing Lender, as the case may be, the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders or the Issuing Lender, as the case
may be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender or Issuing Lender, with interest thereon, for each day from and including the date such amount is distributed to it to but
excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. Nothing herein shall
be deemed to limit the rights of Administrative Agent or any Lender against any Loan Party. 
 (g) If any Lender makes available to the
Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Section 2, and such funds are not made available to the Borrower by the Administrative Agent because the conditions to the
applicable extension of credit set forth in Section 5.1 or Section 5.2 are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like funds as received from such
Lender) to such Lender, without interest. 
 (h) The obligations of the Lenders hereunder to (i) make Revolving Loans, (ii) to
fund its participations in L/C Disbursements in accordance with its respective L/C Percentage, (iii) to fund its respective Swingline Participation Amount of any Swingline Loan, and (iv) to make payments pursuant to
Section 9.7, as applicable, are several and not joint. The failure of any Lender to make any such Loan, to fund any such participation or to make any such payment under Section 9.7 on any date required hereunder shall not
relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its Loan, to purchase its participation or to make its payment under
Section 9.7. 
 (i) Nothing herein shall be deemed to obligate any Lender to obtain the funds for any Loan in any particular
place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

(j) If at any time insufficient funds are received by and available to the Administrative Agent to pay fully all amounts of principal,
interest and fees then due hereunder, such funds shall be applied (i) first, toward payment of interest, fees, Over advances and Protective Over advances then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest, fees, Over advances and Protective Over advances then due to such parties, and (ii) second, toward payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of
principal then due to such parties. 

  
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 (k) If any Lender shall obtain any payment (whether voluntary, involuntary, through the exercise
of any right of set-off, or otherwise) on account of the principal of or interest on any Loan made by it, its participation in the L/C Exposure or other obligations hereunder, as applicable (other than pursuant to a provision hereof providing for
non-pro rata treatment), in excess of its Revolving Percentage or L/C Percentage, as applicable, of such payment on account of the Loans or participations obtained by all of the Lenders, such Lender shall forthwith advise the Administrative Agent of
the receipt of such payment, and within five (5) Business Days of such receipt purchase (for cash at face value) from the other Revolving Lenders or L/C Lenders, as applicable (through the Administrative Agent), without recourse, such
participations in the Revolving Loans made by them and/or participations in the L/C Exposure held by them, as applicable, or make such other adjustments as shall be equitable, as shall be necessary to cause such purchasing Lender to share the excess
payment ratably with each of the other Lenders in accordance with their respective Revolving Percentages or L/C Percentages, as applicable; provided, however, that if all or any portion of such excess payment is thereafter
recovered by or on behalf of the Borrower from such purchasing Lender, the purchase shall be rescinded and the purchase price restored to the extent of such recovery, but without interest. The Borrower agrees that any Lender so purchasing a
participation from another Lender pursuant to this Section 2.18(k) may exercise all its rights of payment (including the right of set-off) with respect to such participation as fully as if such Lender were the direct creditor of the
Borrower in the amount of such participation. No documentation other than notices and the like referred to in this Section 2.18(k) shall be required to implement the terms of this Section 2.18(k). The Administrative Agent
shall keep records (which shall be conclusive and binding in the absence of manifest error) of participations purchased pursuant to this Section 2.18(k) and shall in each case notify the Revolving Lenders or the L/C Lenders, as
applicable, following any such purchase. The provisions of this Section 2.18(k) shall not be construed to apply to (i) any payment made by or on behalf of the Borrower pursuant to and in accordance with the express terms of this
Agreement (including the application of funds arising from the existence of a Defaulting Lender), (ii) the application of Cash Collateral provided for in Section 3.10, or (iii) any payment obtained by a Lender as consideration
for the assignment of or sale of a participation in any of its Loans or sub-participations in any L/C Exposure to any assignee or participant, other than an assignment to the Borrower or any Subsidiary thereof (as to which the provisions of this
Section shall apply). The Borrower consents on behalf of itself and each other Loan Party to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing
arrangements may exercise against each Loan Party rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of each Loan Party in the amount of such participation. 

(l) Notwithstanding anything to the contrary in this Agreement, the Administrative Agent may, in its discretion at any time or from time to
time, without the Borrower’s request and even if the conditions set forth in Section 5.2 would not be satisfied, make a Revolving Loan in an amount equal to the portion of the Obligations constituting overdue interest and fees and
Swingline Loans from time to time due and payable to itself, any Revolving Lender, the Swingline Lender or the Issuing Lender, and apply the proceeds of any such Revolving Loan to those Obligations; provided that after giving effect to any
such Revolving Loan, the aggregate outstanding Revolving Loans will not exceed the Total Revolving Commitments then in effect. 
 2.19
Illegality; Requirements of Law. 
 (a) Illegality. If any Lender determines that any Requirement of Law has made it unlawful, or
that any Governmental Authority has asserted that it is unlawful, for such Lender to make, maintain or fund Eurodollar Loans, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or 

  
 51 

 
sell, or to take deposits of, Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such
Lender to make or continue Eurodollar Loans or to convert ABR Loans to Eurodollar Loans shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no longer exist.
Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to ABR Loans, either on the last day of the Interest
Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Loans. Upon any such prepayment or conversion, the Borrower
shall also pay accrued interest on the amount so prepaid or converted. 
 (b) Requirements of Law. If the adoption of or any change
in any Requirement of Law or in the interpretation or application thereof by a Governmental Authority having jurisdiction or the compliance by any Lender with any request or directive (whether or not having the force of law) from any central bank or
other Governmental Authority made subsequent to the date hereof: 
 (i) shall subject any Recipient to any Taxes (other than
(A) Indemnified Taxes, (B) Taxes described in the definition of Excluded Taxes and (C) Connection Income Taxes) on its Loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other
liabilities or capital attributable thereto; 
 (ii) shall impose, modify or deem applicable any reserve, special deposit, compulsory loan,
insurance charge or similar requirement against assets of, deposits with or for the account of or credit extended or participated in by, any Lender (except any reserve requirement reflected in the Eurodollar Rate); or 

(iii) impose on any Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting this Agreement or
Loans made by such Lender or any Letter of Credit or participation therein; 
 and the result of any of the foregoing is to increase the cost to such Lender
or such other Recipient of making, converting to, continuing or maintaining Loans determined with reference to the Eurodollar Rate or of maintaining its obligation to make such Loans, or to increase the cost to such Lender or such other Recipient of
issuing or participating in Letters of Credit, or to reduce any amount receivable or received by such Lender or other Recipient hereunder in respect thereof (whether in respect of principal, interest or any other amount), then, in any such case,
upon the request of such Lender or other Recipient and following such Lender’s or Recipient’s delivery of a reasonably detailed written statement to the Borrower explaining the basis for such request, the Borrower shall promptly pay such
Lender or other Recipient, as the case may be, any additional amounts necessary to compensate such Lender or other Recipient, as the case may be, for such increased cost or reduced amount receivable. If any Lender becomes entitled to claim any
additional amounts pursuant to this paragraph, it shall promptly notify the Borrower (with a copy to the Administrative Agent) of the event by reason of which it has become so entitled. 

(c) If any Lender determines that any change in any Requirement of Law affecting such Lender or any lending office of such Lender or such
Lender’s holding company, if any, regarding capital or liquidity requirements, has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a
consequence of this Agreement, the Revolving Commitments of such Lender or the Loans made by, or participations in Letters of Credit or Swingline Loans held by, such Lender, or the Letters of Credit issued by the Issuing Lender, to a level below
that which such Lender or such Lender’s holding company could have achieved but for such change in such Requirement of Law (taking into consideration such Lender’s policies and the policies of such Lender’s holding company 

  
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with respect to capital adequacy), then from time to time, upon the request of such Lender and following such Lender’s delivery of a reasonably detailed written statement to the Borrower
explaining the basis for such request, the Borrower will pay to such Lender or the Issuing Lender, as the case may be, such additional amount or amounts as will compensate such Lender or the Issuing Lender or such Lender’s or Issuing
Lender’s holding company for any such reduction suffered. 
 (d) For purposes of this Agreement, (i) the Dodd-Frank Wall Street
Reform and Consumer Protection Act and all requests, rules, guidelines, or directives in connection therewith are deemed to have gone into effect and been adopted after the date of this Agreement, and (ii) all requests, rules, guidelines or
directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a change in any Requirement of Law, regardless of the date enacted, adopted or issued. 
 (e) A reasonably detailed written
certificate as to any additional amounts payable pursuant to paragraphs (b), (c), or (d) of this Section submitted by any Lender to the Borrower (with a copy to the Administrative Agent) shall be conclusive in the absence
of manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 Business Days after receipt of such certificate. Failure or delay on the part of any Lender to demand compensation pursuant to this
Section shall not constitute a waiver of such Lender’s right to demand such compensation. Notwithstanding anything to the contrary in this Section 2.19, the Borrower shall not be required to compensate a Lender pursuant to this
Section 2.19 for any amounts incurred more than nine months prior to the date that such Lender notifies the Borrower of such Lender’s intention to claim compensation therefor; provided that if the circumstances giving rise to
such claim have a retroactive effect, then such nine-month period shall be extended to include the period of such retroactive effect. The obligations of the Borrower arising pursuant to this Section 2.19 shall survive the Discharge of
Obligations and the resignation of the Administrative Agent. 
 2.20 Taxes.  

For purposes of this Section 2.20, the term ‘Lender” includes the Issuing Lender and the term “applicable law”
includes FATCA. 
 (a) Payments Free of Taxes. Any and all payments by or on account of any obligation of any Loan Party under any
Loan Document shall be made without deduction or withholding for any Taxes, except as required by applicable law and the Borrower shall, and shall cause each other Loan Party, to comply with the requirements set forth in this
Section 2.20. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such payment by a Withholding Agent, then the applicable
Withholding Agent shall be entitled to make such deduction or withholding and shall timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such Tax is an Indemnified Tax, then
the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been made (including such deductions and withholdings applicable to additional sums payable under this
Section 2.20) the applicable Recipient receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) Payment of Other Taxes. The Borrower shall, and shall cause each other Loan Party to, timely pay to the relevant Governmental
Authority in accordance with applicable law, or at the option of the Administrative Agent timely reimburse it for the payment of, any Other Taxes applicable to such Loan Party. 

  
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 (c) Evidence of Payments. As soon as practicable after any payment of Taxes by any Loan
Party to a Governmental Authority pursuant to this Section 2.20, the Borrower shall, or shall cause such other Loan Party to, deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental
Authority evidencing such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent. 

(d) Indemnification by Loan Parties. The Borrower shall, and shall cause each other Loan Party to, jointly and severally indemnify each
Recipient, within 10 Business Days after demand therefor accompanied by a reasonably detailed written explanation of the amount being demanded, for the full amount of any Indemnified Taxes (including Indemnified Taxes imposed or asserted on or
attributable to amounts payable under this Section 2.20) payable or paid by such Recipient or required to be withheld or deducted from a payment to such Recipient and any reasonable expenses arising therefrom or with respect thereto
(including any recording and filing fees with respect thereto or resulting therefrom and any liabilities with respect to, or resulting from, any delay in paying such Indemnified Taxes), whether or not such Indemnified Taxes were correctly or legally
imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own behalf
or on behalf of a Lender, shall be conclusive absent manifest error. If any Loan Party fails to pay any Taxes when due to the appropriate taxing authority or fails to remit to the Administrative Agent the required receipts or other required
documentary evidence, such Loan Party shall indemnify the Administrative Agent and the Lenders for any incremental taxes, interest or penalties that may become payable by the Administrative Agent or any Lender as a result of any such failure. 

(e) Indemnification by Lenders. Each Lender shall severally indemnify the Administrative Agent, within 10 days after demand therefor,
for (i) any Indemnified Taxes attributable to such Lender (but only to the extent that any Loan Party has not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do
so), (ii) any Taxes attributable to such Lender’s failure to comply with the provisions of Section 10.6 relating to the maintenance of a Participant Register and (iii) any Excluded Taxes attributable to such Lender, in
each case, that are payable or paid by the Administrative Agent in connection with any Loan Document, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by
the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to any Lender by the Administrative Agent shall be conclusive absent manifest error. Each Lender hereby authorizes the Administrative Agent to
set off and apply any and all amounts at any time owing to such Lender under any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this
paragraph (e). 
 (f) Status of Lenders. 

(i) Any Lender that is entitled to an exemption from or reduction of withholding Tax with respect to payments made under any Loan Document
shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably requested by the Borrower or the
Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent, shall deliver such other
documentation prescribed by applicable law or reasonably requested by the Borrower or the Administrative Agent as will enable the Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or
information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution and submission of such documentation (other than such documentation set forth in Sections 2.20(f)(ii)(A),
(ii)(B) and (ii)(D) below) shall not be required if the Lender is not legally entitled to complete, execute or deliver such documentation 

  
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or, in the Lender’s reasonable judgment, such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the
legal or commercial position of such Lender. 
 (ii) Without limiting the generality of the foregoing, in the event that the Borrower is a
U.S. Person, 
 (A) any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on
which such Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from U.S.
federal backup withholding tax; 
 (B) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and
the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of
the Borrower or the Administrative Agent), whichever of the following is applicable: 
 (1) in the case of a Foreign Lender claiming the
benefits of an income tax treaty to which the United States is a party (x) with respect to payments of interest under any Loan Document, executed originals of IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “interest” article of such tax treaty and (y) with respect to any other applicable payments under any Loan Document, IRS Form W-8BEN establishing an exemption from, or reduction of, U.S. federal
withholding Tax pursuant to the “business profits” or “other income” article of such tax treaty; 
 (2) executed
originals of IRS Form W-8ECI; 
 (3) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under
Section 871(h) or Section 881(c) of the Code, (x) a certificate substantially in the form of Exhibit F- 1 to the effect that such Foreign Lender is not a “bank” within the meaning of Section 881(c)(3)(A) of the
Code, a “10 percent shareholder” of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in Section 881(c)(3)(C) of the Code (a “U.S. Tax
Compliance Certificate”) and (y) executed originals of IRS Form W-8BEN; or 
 (4) to the extent a Foreign Lender is not
the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form W-8ECI, IRS Form W-8BEN, a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-2 or Exhibit F-3, IRS Form W- 9, and/or other
certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign
Lender may provide a U.S. Tax Compliance Certificate substantially in the form of Exhibit F-4 on behalf of each such direct and indirect partner; 

(C) any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower and the Administrative Agent (in such
number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative
Agent), executed originals of any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in U.S. federal withholding Tax, duly completed, together with such supplementary documentation as may be prescribed by
applicable law to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to be made; and 

  
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 (D) if a payment made to a Lender under any Loan Document would be subject to U.S. federal
withholding Tax imposed by FATCA if such Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the
Borrower and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the Borrower and the Administrative Agent to comply with their obligations under
FATCA and to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (D), “FATCA” shall include
any amendments made to FATCA after the date of this Agreement. 
 (iii) Each Lender agrees that if any form or certification it previously
delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. Each Foreign Lender shall
promptly notify the Borrower at any time it determines that it is no longer in a position to provide any previously delivered certificate to the Borrower (or any other form of certification adopted by the U.S. taxing authorities for such purpose).
Notwithstanding any other provision of this paragraph, a Foreign Lender shall not be required to deliver any form pursuant to this paragraph that such Foreign Lender is not legally able to deliver. 

(g) Treatment of Certain Refunds. If any party determines, in its sole discretion exercised in good faith, that it has received a
refund of any Taxes as to which it has been indemnified pursuant to this Section 2.20 (including by the payment of additional amounts pursuant to this Section 2.20), it shall pay to the indemnifying party an amount equal to
such refund (but only to the extent of indemnity payments made under this Section 2.20 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without
interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over pursuant to
this paragraph (g) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority. Notwithstanding
anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in
a less favorable net after-Tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or
additional amounts with respect to such Tax had never been paid. This paragraph shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to its Taxes that it deems confidential) to
the indemnifying party or any other Person. 
 (h) Survival. Each party’s obligations under this Section 2.20 shall
survive the resignation or replacement of the Administrative Agent, any assignment of rights by, or the replacement of, a Lender, and the Discharge of Obligations. 

2.21 Indemnity. The Borrower agrees to indemnify each Lender for, and to hold each Lender harmless from, any loss or expense that such
Lender may sustain or incur as a consequence of (a) a default by the Borrower in making a borrowing of, conversion into or continuation of Eurodollar Loans after the Borrower has given a notice requesting the same in accordance with the
provisions of this Agreement, (b) a 

  
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default by the Borrower in making any prepayment of or conversion from Eurodollar Loans after the Borrower has given a notice thereof in accordance with the provisions of this Agreement, or
(c) for any reason, the making of a prepayment of Eurodollar Loans on a day that is not the last day of an Interest Period with respect thereto. Such losses and expenses shall be equal to the excess, if any, of (i) the amount of interest
that would have accrued on the amount so prepaid, or not so borrowed, reduced, converted or continued, for the period from the date of such prepayment or of such failure to borrow, reduce, convert or continue to the last day of such Interest Period
(or, in the case of a failure to borrow, reduce, convert or continue, the Interest Period that would have commenced on the date of such failure) in each case at the applicable rate of interest or other return for such Loans provided for herein
(excluding, however, the Applicable Margin included therein, if any), over (ii) the amount of interest (as reasonably determined by such Lender) that would have accrued to such Lender on such amount by placing such amount on deposit for a
comparable period with leading banks in the interbank eurodollar market. A certificate as to any amounts payable pursuant to this Section submitted to the Borrower by any Lender shall be conclusive in the absence of manifest error. This covenant
shall survive the Discharge of Obligations. 
 2.22 Change of Lending Office. Each Lender agrees that, upon the occurrence of any
event giving rise to the operation of Section 2.19(b), Section 2.19(c), Section 2.20(a) or Section 2.20(d) with respect to such Lender, it will, if requested by the Borrower, use reasonable efforts
(subject to overall policy considerations of such Lender) to designate a different lending office for funding or booking its Loans affected by such event or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, in each case, with the object of avoiding the consequences of such event; provided that such designation is made on terms that, in the sole judgment of such Lender, cause such Lender and its lending office(s) to suffer no
economic, legal, regulatory or other disadvantage; provided further that nothing in this Section shall affect or postpone any of the obligations of the Borrower or the rights of any Lender pursuant to Section 2.19(b),
Section 2.19(c), Section 2.20(a) or Section 2.20(d). The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment made at the
request of the Borrower.  
 2.23 Substitution of Lenders. Upon the receipt by the Borrower of any of the following (or in the
case of clause (a) below, if the Borrower is required to pay any such amount), with respect to any Lender (any such Lender described in clauses (a) through (c) below being referred to as an
“Affected Lender” hereunder):  
 (a) a request from a Lender for payment of Indemnified Taxes
or additional amounts under Section 2.20 or of increased costs pursuant to Section 2.19 (and, in any such case, such Lender has declined or is unable to designate a different lending office in accordance with
Section 2.22 or is a Non-Consenting Lender); 
 (b) a notice from the Administrative Agent under Section 10.1(b)
that one or more Minority Lenders are unwilling to agree to an amendment or other modification approved by the Required Lenders and the Administrative Agent; or 

(c) notice from the Administrative Agent that a Lender is a Defaulting Lender; 

then the Borrower may, at its sole expense and effort, upon notice to the Administrative Agent and such Affected Lender: (i) request that one or more of
the other Lenders acquire and assume all or part of such Affected Lender’s Loans and Revolving Commitments; or (ii) designate a replacement lending institution (which shall be required to be an Eligible Assignee) to acquire and assume all
or a ratable part of such Affected Lender’s Loans and Revolving Commitments (the replacing Lender or lender in (i) or (ii) being a “Replacement Lender”); provided, however, that the Borrower shall
be liable for the payment upon demand of all costs and other amounts arising under Section 2.21 that result from the acquisition of any Affected 

  
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Lender’s Loan and/or Revolving Commitments (or any portion thereof) by a Lender or Replacement Lender, as the case may be, on a date other than the last day of the applicable Interest Period
with respect to any Eurodollar Loans then outstanding; and provided further, however, that if the Borrower elects to exercise such right with respect to any Affected Lender under clause (a) or (b) of this
Section 2.23, then the Borrower shall be obligated to replace all Affected Lenders under such clauses. The Affected Lender replaced pursuant to this Section 2.23 shall be required to assign and delegate, without recourse, all
of its interests, rights and obligations under this Agreement and the related Loan Documents to one or more Replacement Lenders that so agree to acquire and assume all or a ratable part of such Affected Lender’s Loans and Revolving Commitments
upon payment to such Affected Lender of an amount (in the aggregate for all Replacement Lenders) equal to 100% of the outstanding principal of the Affected Lender’s Loans, accrued interest thereon, accrued fees and all other amounts payable to
it hereunder and under the other Loan Documents from such Replacement Lenders (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts, including amounts under
Section 2.21 hereof). Any such designation of a Replacement Lender shall be effected in accordance with, and subject to the terms and conditions of, the assignment provisions contained in Section 10.6 (with the assignment fee
to be paid by the Borrower in such instance), and, if such Replacement Lender is not already a Lender hereunder or an Affiliate of a Lender or an Approved Fund, shall be subject to the prior written consent of the Administrative Agent (which consent
shall not be unreasonably withheld). Notwithstanding the foregoing, with respect to any assignment pursuant to this Section 2.23, (a) in the case of any such assignment resulting from a claim for compensation under
Section 2.19 or payments required to be made pursuant to Section 2.20, such assignment shall result in a reduction in such compensation or payments thereafter; (b) such assignment shall not conflict with applicable law
and (c) in the case of any assignment resulting from a Lender being a Minority Lender referred to in clause (b) of this Section 2.23, the applicable assignee shall have consented to the applicable amendment, waiver or
consent. Notwithstanding the foregoing, an Affected Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Affected Lender or otherwise, the circumstances entitling the Borrower to
require such assignment and delegation cease to apply. 
 2.24 Defaulting Lenders. 

(a) Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then,
until such time as such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 
 (i) Waivers and
Amendments. Such Defaulting Lender’s right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 10.1 and in the definition of Required Lenders. 

(ii) Defaulting Lender Waterfall. Any payment of principal, interest, fees or other amounts received by the Administrative Agent for
the account of such Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8 or otherwise, and including any amounts made available to the Administrative Agent by such Defaulting Lender pursuant to
Section 10.7), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder;
second, to the payment on a pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Lender or to the Swingline Lender hereunder; third, to be held as Cash Collateral for the funding obligations of such Defaulting
Lender of any participation in any Letter of Credit; fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion
thereof as required by this Agreement, as determined by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a deposit account and released pro rata in order to (x) satisfy such
Defaulting Lender’s potential future funding obligations with respect to Loans under this Agreement, and (y) be held as Cash Collateral for the future funding obligations of such Defaulting 

  
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Lender of any participation in any future Letter of Credit; sixth, to the payment of any amounts owing to any L/C Lender, the Issuing Lender or the Swingline Lender as a result of any
judgment of a court of competent jurisdiction obtained by any L/C Lender, the Issuing Lender or the Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement;
seventh, so long as no Default or Event of Default has occurred and is continuing, to the payment of any amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if
(A) such payment is a payment of the principal amount of any Loans or L/C Advances in respect of which such Defaulting Lender has not fully funded its appropriate share and (B) such Loans or L/C Advances were made at a time when the
conditions set forth in Section 5.2 were satisfied or waived, such payment shall be applied solely to pay the Loans of, and L/C Advances owed to, all non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any
Loans of, or L/C Advances owed to, such Defaulting Lender until such time as all Loans and funded and unfunded participations in L/C Advances and Swingline Loans are held by the Lenders pro rata in accordance with the Revolving Commitments under the
applicable Facility without giving effect to Section 2.24(a)(iv). Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post Cash
Collateral pursuant to this Section 2.24(a)(ii) shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto. 

(iii) Certain Fees. 

(A) No Defaulting Lender shall be entitled to receive any fee pursuant to Section 2.9(b) for any period during which such Lender
is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to such Defaulting Lender). 

(B) Each Defaulting Lender shall be limited in its right to receive Letter of Credit Fees as provided in Section 3.3(d). 

(C) With respect to any Letter of Credit Fee not required to be paid to any Defaulting Lender pursuant to clause (A) or
(B) above, the Borrower shall (x) pay to each Non-Defaulting Lender that portion of any such Letter of Credit Fee otherwise payable to such Defaulting Lender with respect to such Defaulting Lender’s participation in Letters of
Credit or Swingline Loans that has been reallocated to such Non-Defaulting Lender pursuant to clause (iv) below, (y) pay to the Issuing Lender and to the Swingline Lender, as applicable, the amount of any such fee or Letter of
Credit Fee, as applicable, otherwise payable to such Defaulting Lender to the extent allocable to the Issuing Lender’s or the Swingline Lender’s Fronting Exposure to such Defaulting Lender, and (z) not be required to pay the remaining
amount of any such fee or Letter of Credit Fee, as applicable. 
 (iv) Reallocation of Pro Rata Share to Reduce Fronting Exposure.
During any period in which there is a Defaulting Lender, for purposes of computing the amount of the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit pursuant to Section 3.4 or in
Swingline Loans pursuant to Section 2.7(c), the L/C Percentage of each non-Defaulting Lender of any such Letter of Credit and the Revolving Percentage of each non-Defaulting Lender of any such Swingline Loan, as the case may be, shall be
computed without giving effect to the Revolving Commitment of such Defaulting Lender; provided that, (A) each such reallocation shall be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no Event of
Default has occurred and is continuing; (B) the aggregate obligations of each non-Defaulting Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans shall not exceed the positive difference, if any, of
(1) the Revolving Commitment of that non-Defaulting Lender minus (2) the aggregate outstanding amount of the Revolving Loans and 

  
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participation interests in respect of Swingline Loans of that Lender plus the aggregate amount of that Lender’s L/C Percentage of then outstanding Letters of Credit and (C) the
conditions set forth in Section 5.2 are satisfied at the time of such reallocation (and, unless the Borrower shall have otherwise notified the Administrative Agent at such time, the Borrower shall be deemed to have represented and
warranted that such conditions are satisfied at such time). No reallocation hereunder shall constitute a waiver or release of any claim of any party hereunder against a Defaulting Lender arising from that Lender having become a Defaulting Lender,
including any claim of a non-Defaulting Lender as a result of such non-Defaulting Lender’s increased exposure following such reallocation. 

(v) Cash Collateral, Repayment of Swingline Loans. If the reallocation described in clause (iv) above cannot, or can only
partially, be effected, the Borrower shall, without prejudice to any right or remedy available to it hereunder or under law, (x) first, prepay Swingline Loans in an amount equal to the Swingline Lender’s Fronting Exposure, and
(y) second, Cash Collateralize the Issuing Lender’s Fronting Exposure in accordance with the procedures set forth in Section 3.10. 

(b) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the Swingline Lender and the Issuing Lender agree in writing in
their sole discretion that a Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any
conditions set forth therein (which may include arrangements with respect to any Cash Collateral), such Lender will, to the extent applicable, purchase at par that portion of outstanding Loans of the other Lenders or take such other actions as the
Administrative Agent may determine to be necessary to cause the Loans and funded and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro rata basis by the Lenders in accordance with their respective Revolving
Percentages and L/C Percentages, as applicable (without giving effect to Section 2.24(a)(iv)), whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to
fees accrued or payments made by or on behalf of the Borrower while such Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from
Defaulting Lender to Lender will constitute a waiver or release of any claim of any party hereunder arising from such Lender having been a Defaulting Lender. 

(c) New Swingline Loans/Letters of Credit. So long as any Lender is a Defaulting Lender, (i) the Swingline Lender shall not be
required to fund any Swingline Loans unless it is satisfied that it will have no Fronting Exposure after giving effect to such Swingline Loan and (ii) the Issuing Lender shall not be required to issue, extend, renew or increase any Letter of
Credit unless it is satisfied that it will have no Fronting Exposure in respect of Letters of Credit after giving effect thereto. 
 (d)
Termination of Defaulting Lender. The Borrower may terminate the unused amount of the Revolving Commitment of any Revolving Lender that is a Defaulting Lender upon not less than ten (10) Business Days’ prior notice to the
Administrative Agent (which shall promptly notify the Lenders thereof), and in such event the provisions of Section 2.24(a)(ii) will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under
this Agreement (whether on account of principal, interest, fees, indemnity or other amounts); provided that (i) no Event of Default shall have occurred and be continuing, and (ii) such termination shall not be deemed to be a waiver
or release of any claim the Borrower, the Administrative Agent, the Issuing Lender, the Swingline Lender or any other Lender may have against such Defaulting Lender. 

2.25 [Reserved.] 
 2.26
Notes. If so requested by any Lender by written notice to the Borrower (with a copy to the Administrative Agent), the Borrower shall execute and deliver to such Lender (and/or, if applicable and if so specified in such notice, to any Person who
is an assignee of such Lender pursuant to Section 10.6) (promptly after the Borrower’s receipt of such notice) a Note or Notes to evidence such Lender’s Loans. 

  
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 SECTION 3 

LETTERS OF CREDIT 
 3.1
L/C Commitment. 
 (a) Subject to the terms and conditions hereof, the Issuing Lender agrees to issue letters of credit
(“Letters of Credit”) for the account of the Borrower on any Business Day during the Letter of Credit Availability Period in such form as may reasonably be approved from time to time by the Issuing Lender; provided
that the Issuing Lender shall not issue any Letter of Credit if, after giving effect to such issuance, the L/C Exposure would exceed either the Total L/C Commitments or the Available Revolving Commitment at such time. Each Letter of Credit shall
(i) be denominated in Dollars and (ii) expire no later than the earlier of (x) the first anniversary of its date of issuance and (y) the Letter of Credit Maturity Date, provided that any Letter of Credit with a one-year
term may provide for the renewal thereof for additional one-year periods (which shall in no event extend beyond the date referred to in clause (y) above). For the avoidance of doubt, no commercial letters of credit shall be issued by the
Issuing Lender to any Person under this Agreement. 
 (b) The Issuing Lender shall not at any time be obligated to issue any Letter of Credit
if: 
 (i) such issuance would conflict with, or cause the Issuing Lender or any L/C Lender to exceed any limits imposed by, any applicable
Requirement of Law; 
 (ii) any order, judgment or decree of any Governmental Authority or arbitrator shall by its terms purport to enjoin
or restrain the Issuing Lender from issuing, amending or reinstating such Letter of Credit, or any law, rule or regulation applicable to the Issuing Lender or any request, guideline or directive (whether or not having the force of law) from any
Governmental Authority with jurisdiction over the Issuing Lender shall prohibit, or request that the Issuing Lender refrain from, the issuance, amendment, renewal or reinstatement of letters of credit generally or such Letter of Credit in particular
or shall impose upon the Issuing Lender with respect to such Letter of Credit any restriction, reserve or capital requirement (for which the Issuing Lender is not otherwise compensated) not in effect on the Closing Date, or shall impose upon the
Issuing Lender any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the Issuing Lender in good faith deems material to it; 

(iii) the Issuing Lender has received written notice from any Lender, the Administrative Agent or the Borrower, at least one
(1) Business Day prior to the requested date of issuance, amendment, renewal or reinstatement of such Letter of Credit, that one or more of the applicable conditions contained in Section 5.2 shall not then be satisfied (which notice
shall contain a description of any such condition asserted not to be satisfied); 
 (iv) any requested Letter of Credit is not in form and
substance acceptable to the Issuing Lender, or the issuance, amendment or renewal of a Letter of Credit shall violate any applicable laws or regulations or any applicable policies of the Issuing Lender; 

(v) such Letter of Credit contains any provisions providing for automatic reinstatement of the stated amount after any drawing thereunder;

 (vi) except as otherwise agreed by the Administrative Agent and the Issuing Lender, such Letter of Credit is in an initial face amount
less than $500,000; or 

  
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 (vii) any Lender is at that time a Defaulting Lender, unless the Issuing Lender has entered into
arrangements, including the delivery of Cash Collateral pursuant to Section 3.10, satisfactory to the Issuing Lender (in its sole discretion) with the Borrower or such Defaulting Lender to eliminate the Issuing Lender’s actual or
potential Fronting Exposure (after giving effect to Section 2.24(a)(iv)) with respect to the Defaulting Lender arising from either the Letter of Credit then proposed to be issued or such Letter of Credit and all other L/C Exposure as to
which the Issuing Lender has actual or potential Fronting Exposure, as it may elect in its sole discretion. 
 3.2 Procedure for Issuance
of Letters of Credit. The Borrower may from time to time request that the Issuing Lender issue a Letter of Credit for the account of the Borrower by delivering to the Issuing Lender at its address for notices specified herein an Application
therefor, completed to the satisfaction of the Issuing Lender, and such other certificates, documents and other papers and information as the Issuing Lender may request. Upon receipt of any Application, the Issuing Lender will process such
Application and the certificates, documents and other papers and information delivered to it in connection therewith in accordance with its customary procedures and shall promptly issue the Letter of Credit requested thereby (but in no event shall
the Issuing Lender be required to issue any Letter of Credit earlier than three (3) Business Days after its receipt of the Application therefor and all such other certificates, documents and other papers and information relating thereto) by
issuing the original of such Letter of Credit to the beneficiary thereof or as otherwise may be agreed to by the Issuing Lender and the Borrower. The Issuing Lender shall furnish a copy of such Letter of Credit to the Borrower promptly following the
issuance thereof. The Issuing Lender shall promptly furnish to the Administrative Agent, which shall in turn promptly furnish to the Lenders, notice of the issuance of each Letter of Credit (including the amount thereof). 

3.3 Fees and Other Charges. 

(a) The Borrower agrees to pay, with respect to each Existing Letter of Credit and each outstanding Letter of Credit issued for the account of
(or at the request of) the Borrower, (i) a fronting fee of 0.125% per annum on the daily amount available to be drawn under each such Letter of Credit to the Issuing Lender for its own account (a “Letter of Credit Fronting
Fee”), (ii) a letter of credit fee at a rate per annum equal to the Applicable Margin for Eurodollar Loans multiplied by the daily amount available to be drawn under each such Letter of Credit on the drawable amount of such
Letter of Credit to the Administrative Agent for the ratable account of the L/C Lenders (determined in accordance with their respective L/C Percentages) (a “Letter of Credit Fee”), and (iii) the Issuing Lender’s
standard and reasonable fees with respect to the issuance, amendment, renewal or extension of any Letter of Credit issued for the account of (or at the request of) such Revolving Borrower or processing of drawings thereunder (the fees in this
clause (iii), collectively, the “Issuing Lender Fees”). The Issuing Lender Fees shall be paid when required by the Issuing Lender, and the Letter of Credit Fronting Fee and the Letter of Credit Fee shall be
payable quarterly in arrears on the last Business Day of March, June, September and December of each year and on the Letter of Credit Maturity Date (each, an “L/C Fee Payment Date”) after the issuance date of such Letter of
Credit. All Letter of Credit Fronting Fees and Letter of Credit Fees shall be computed on the basis of the actual number of days elapsed in a year of 360 days. 

(b) In addition to the foregoing fees, the Borrower shall pay or reimburse the Issuing Lender for such normal and customary costs and expenses
as are incurred or charged by the Issuing Lender in issuing, negotiating, effecting payment under, amending or otherwise administering any Letter of Credit. 

(c) The Borrower shall furnish to the Issuing Lender and the Administrative Agent such other documents and information pertaining to any
requested Letter of Credit issuance, amendment or renewal, including any L/C-Related Documents, as the Issuing Lender or the Administrative Agent may require. This Agreement shall control in the event of any conflict with any L/C-Related Document
(other than any Letter of Credit). 

  
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 (d) Any Letter of Credit Fees otherwise payable for the account of a Defaulting Lender with
respect to any Letter of Credit as to which such Defaulting Lender has not provided Cash Collateral satisfactory to the Issuing Lender pursuant to Section 3.10 shall be payable, to the maximum extent permitted by applicable law, to the
other L/C Lenders in accordance with the upward adjustments in their respective L/C Percentages allocable to such Letter of Credit pursuant to Section 2.24(a)(iv), with the balance of such Letter of Credit Fees, if any, payable to the
Issuing Lender for its own account. 
 (e) All fees payable pursuant to this Section 3.3 shall be fully-earned on the date paid
and shall not be refundable for any reason. 
 3.4 L/C Participations; Existing Letters of Credit. 

(a) L/C Participations. The Issuing Lender irrevocably agrees to grant and hereby grants to each L/C Lender, and, to induce the Issuing
Lender to issue Letters of Credit, each L/C Lender irrevocably agrees to accept and purchase and hereby accepts and purchases from the Issuing Lender, on the terms and conditions set forth below, for such L/C Lender’s own account and risk an
undivided interest equal to such L/C Lender’s L/C Percentage in the Issuing Lender’s obligations and rights under and in respect of each Letter of Credit and the amount of each draft paid by the Issuing Lender thereunder. Each L/C Lender
agrees with the Issuing Lender that, if a draft is paid under any Letter of Credit for which the Issuing Lender is not reimbursed in full by the Borrower pursuant to Section 3.5(a), such L/C Lender shall pay to the Issuing Lender upon
demand at the Issuing Lender’s address for notices specified herein an amount equal to such L/C Lender’s L/C Percentage of the amount of such draft, or any part thereof, that is not so reimbursed. Each L/C Lender’s obligation to pay
such amount shall be absolute and unconditional and shall not be affected by any circumstance, including (i) any setoff, counterclaim, recoupment, defense or other right that such L/C Lender may have against the Issuing Lender, the Borrower or
any other Person for any reason whatsoever, (ii) the occurrence of a Default or an Event of Default or the failure to satisfy any of the other conditions specified in Section 5.2, (iii) any adverse change in the condition
(financial or otherwise) of the Borrower, (iv) any breach of this Agreement or any other Loan Document by the Borrower, any other Loan Party or any other L/C Lender, or (v) any other circumstance, happening or event whatsoever, whether or
not similar to any of the foregoing. 
 (b) Existing Letters of Credit. On and after the Closing Date, each Existing Letter of Credit
shall be deemed for all purposes, including for purposes of the fees to be collected pursuant to Sections 3.3(a) and (b), reimbursement of costs and expenses to the extent provided herein and for purposes of being secured by the
Collateral, a Letter of Credit outstanding under this Agreement and entitled to the benefits of this Agreement and the other Loan Documents, and shall be governed by the applications and agreements pertaining thereto and by this Agreement (which
shall control in the event of a conflict). 
 3.5 Reimbursement. 

(a) If the Issuing Lender shall make any L/C Disbursement in respect of a Letter of Credit, the Issuing Lender shall notify the Borrower and
the Administrative Agent thereof and the Borrower shall pay or cause to be paid to the Issuing Lender an amount equal to the entire amount of such L/C Disbursement not later than (i) the immediately following Business Day if the Issuing Lender
issues such notice before 10:00 a.m. Pacific time on the date of such L/C Disbursement, or (ii) on the second following Business Day if the Issuing Lender issues such notice at or after 10:00 a.m. Pacific time on the date of such L/C
Disbursement. Each such payment shall be made to the Issuing Lender at its address for notices referred to herein in Dollars and in immediately available funds. 

  
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 (b) If the Issuing Lender shall not have received from the Borrower the payment that it is
required to make pursuant to Section 3.5(a) with respect to a Letter of Credit within the time specified in such Section, the Issuing Lender will promptly notify the Administrative Agent of the L/C Disbursement and the Administrative
Agent will promptly notify each L/C Lender of such L/C Disbursement and its L/C Percentage thereof, and each L/C Lender shall pay to the Issuing Lender upon demand at the Issuing Lender’s address for notices specified herein an amount equal to
such L/C Lender’s L/C Percentage of such L/C Disbursement (and the Administrative Agent may apply Cash Collateral provided for this purpose) and upon such payment pursuant to this paragraph to reimburse the Issuing Lender for any L/C
Disbursement, the Borrower shall be required to reimburse the L/C Lenders for such payments (including interest accrued thereon from the date of such payment until the date of such reimbursement at the rate applicable to Revolving Loans that are ABR
Loans plus 2% per annum) on demand; provided that if at the time of and after giving effect to such payment by the L/C Lenders, the conditions to borrowings and Revolving Loan Conversions set forth in Section 5.2 are
satisfied, the Borrower may, by written notice to the Administrative Agent certifying that such conditions are satisfied and that all interest owing under this paragraph has been paid, request that such payments by the L/C Lenders be converted into
Revolving Loans (a “Revolving Loan Conversion”), in which case, if such conditions are in fact satisfied, the L/C Lenders shall be deemed to have extended, and the Borrower shall be deemed to have accepted, a Revolving Loan
in the aggregate principal amount of such payment without further action on the part of any party, and the Total L/C Commitments shall be permanently reduced by such amount; any amount so paid pursuant to this paragraph shall, on and after the
payment date thereof, be deemed to be Revolving Loans for all purposes hereunder; provided that the Issuing Lender, at its option, may effectuate a Revolving Loan Conversion regardless of whether the conditions to borrowings and Revolving
Loan Conversions set forth in Section 5.2 are satisfied. 
 3.6 Obligations Absolute. The Borrower’s obligations
under this Section 3 shall be absolute and unconditional under any and all circumstances and irrespective of any setoff, counterclaim or defense to payment that the Borrower may have or have had against the Issuing Lender, any
beneficiary of a Letter of Credit or any other Person. The Borrower also agrees with the Issuing Lender that the Issuing Lender shall not be responsible for, and the Borrower’s obligations hereunder shall not be affected by, among other things,
the validity or genuineness of documents or of any endorsements thereon, even though such documents shall in fact prove to be invalid, fraudulent or forged, or any dispute between or among the Borrower and any beneficiary of any Letter of Credit or
any other party to which such Letter of Credit may be transferred or any claims whatsoever of the Borrower against any beneficiary of such Letter of Credit or any such transferee. The Issuing Lender shall not be liable for any error, omission,
interruption or delay in transmission, dispatch or delivery of any message or advice, however transmitted, in connection with any Letter of Credit, except for errors or omissions found by a final and nonappealable decision of a court of competent
jurisdiction to have resulted from the gross negligence or willful misconduct of the Issuing Lender. The Borrower agrees that any action taken or omitted by the Issuing Lender under or in connection with any Letter of Credit or the related drafts or
documents, if done in the absence of gross negligence or willful misconduct, shall be binding on the Borrower and shall not result in any liability of the Issuing Lender to the Borrower. 

In addition to amounts payable as elsewhere provided in the Agreement, the Borrower hereby agrees to pay and to protect, indemnify, and save
Issuing Lender harmless from and against any and all claims, demands, liabilities, damages, losses, costs, charges and expenses (including reasonable attorneys’ fees and allocated costs of internal counsel) that the Issuing Lender may incur or
be subject to as a consequence, direct or indirect, of (A) the issuance of any Letter of Credit, or (B) the failure of Issuing Lender or of any L/C Lender to honor a demand for payment under any Letter of Credit thereof as a result of any
act or omission, whether rightful or wrongful, of any present or future de jure or de facto government or Governmental Authority, in each case other than to the extent solely as a result of the gross negligence or willful misconduct of Issuing
Lender or such L/C Lender (as finally determined by a court of competent jurisdiction). 

  
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 3.7 Letter of Credit Payments. If any draft shall be presented for payment under any
Letter of Credit, the Issuing Lender shall promptly notify the Borrower and the Administrative Agent of the date and amount thereof. The responsibility of the Issuing Lender to the Borrower in connection with any draft presented for payment under
any Letter of Credit shall, in addition to any payment obligation expressly provided for in such Letter of Credit, be limited to determining that the documents (including each draft) delivered under such Letter of Credit in connection with such
presentment are substantially in conformity with such Letter of Credit. 
 3.8 Applications. To the extent that any provision of any
Application related to any Letter of Credit is inconsistent with the provisions of this Section 3, the provisions of this Section 3 shall apply. 

3.9 Interim Interest. If the Issuing Lender shall make any L/C Disbursement in respect of a Letter of Credit, then, unless either the
Borrower shall have reimbursed such L/C Disbursement in full within the time period specified in Section 3.5(a) or the L/C Lenders shall have reimbursed such L/C Disbursement in full on such date as provided in
Section 3.5(b), in each case the unpaid amount thereof shall bear interest for the account of the Issuing Lender, for each day from and including the date of such L/C Disbursement to but excluding the date of payment by the Borrower, at
the rate per annum that would apply to such amount if such amount were a Revolving Loan that is an ABR Loan; provided that the provisions of Section 2.15(c) shall be applicable to any such amounts not paid when due. 

3.10 Cash Collateral. 

(a) Certain Credit Support Events. Upon the request of the Administrative Agent or the Issuing Lender (i) if the Issuing Lender has
honored any full or partial drawing request under any Letter of Credit and such drawing has resulted in an L/C Advance by all the L/C Lenders that is not reimbursed by the Borrower or converted into a Revolving Loan pursuant to
Section 3.5(b), or (ii) if, as of the Letter of Credit Maturity Date, any L/C Exposure for any reason remains outstanding, the Borrower shall, in each case, immediately Cash Collateralize the then effective L/C Exposure in an amount
equal to 105% of such L/C Exposure. 
 At any time that there shall exist a Defaulting Lender, within one (1) Business Day following
the request of the Administrative Agent or the Issuing Lender (with a copy to the Administrative Agent), the Borrower shall deliver to the Administrative Agent Cash Collateral in an amount sufficient to cover 105% of the Fronting Exposure relating
to the Letters of Credit (after giving effect to Section 2.24(a)(iv) and any Cash Collateral provided by such Defaulting Lender). 

(b) Grant of Security Interest. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be
maintained in blocked, non-interest bearing deposit accounts with the Administrative Agent. The Borrower, and to the extent provided by any Lender or Defaulting Lender, such Lender or Defaulting Lender, hereby grants to (and subjects to the control
of) the Administrative Agent, for the benefit of the Administrative Agent, the Issuing Lender and the L/C Lenders, and agrees to maintain, a first priority security interest and Lien in all such Cash Collateral and in all proceeds thereof, as
security for the Obligations to which such Cash Collateral may be applied pursuant to Section 3.10(c). If at any time the Administrative Agent determines that Cash Collateral is subject to any right or claim of any Person other than the
Administrative Agent or any Issuing Lender as herein provided, or that the total amount of such Cash Collateral is less than 105% of the applicable L/C Exposure, Fronting Exposure and other Obligations secured thereby, the Borrower or the relevant
Lender or Defaulting Lender, as applicable, will, promptly upon demand by the Administrative Agent, pay or provide to the Administrative Agent additional Cash Collateral in an amount sufficient to eliminate such deficiency (after giving effect to
any Cash Collateral provided by such Defaulting Lender). 

  
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 (c) Application. Notwithstanding anything to the contrary contained in this Agreement,
Cash Collateral provided under any of this Section 3.10, Section 2.24 or otherwise in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Exposure, obligations to fund participations
therein (including, as to Cash Collateral provided by a Defaulting Lender, any interest accrued on such obligation) and other obligations for which the Cash Collateral was so provided, prior to any other application of such property as may otherwise
be provided for herein. 
 (d) Termination of Requirement. Cash Collateral (or the appropriate portion thereof) provided to reduce
Fronting Exposure in respect of Letters of Credit or other Obligations shall no longer be required to be held as Cash Collateral pursuant to this Section 3.10 following (i) the elimination of the applicable Fronting Exposure and
other Obligations giving rise thereto (including by the termination of the Defaulting Lender status of the applicable Lender), or (ii) a determination by the Administrative Agent and the Issuing Lender that there exists excess Cash Collateral;
provided, however, (A) that Cash Collateral furnished by or on behalf of a Loan Party shall not be released during the continuance of an Event of Default, and (B) that, subject to Section 2.24, the Person
providing such Cash Collateral and the Issuing Lender may agree that such Cash Collateral shall not be released but instead shall be held to support future anticipated Fronting Exposure or other obligations, and provided further, that
to the extent that such Cash Collateral was provided by the Borrower or any other Loan Party, such Cash Collateral shall remain subject to any security interest and Lien granted pursuant to the Loan Documents. 

3.11 [Reserved.] 
 3.12
Resignation of the Issuing Lender. The Issuing Lender may resign at any time by giving at least 30 days’ prior written notice to the Administrative Agent, the Lenders and the Borrower. Subject to the next succeeding paragraph, upon the
acceptance of any appointment as the Issuing Lender hereunder by a Lender that shall agree to serve as successor Issuing Lender, such successor shall succeed to and become vested with all the interests, rights and obligations of the retiring Issuing
Lender and the retiring Issuing Lender shall be discharged from its obligations to issue additional Letters of Credit hereunder without affecting its rights and obligations with respect to Letters of Credit previously issued by it. At the time such
resignation shall become effective, the Borrower shall pay all accrued and unpaid fees pursuant to Section 3.3. The acceptance of any appointment as the Issuing Lender hereunder by a successor Lender shall be evidenced by an agreement
entered into by such successor, in a form satisfactory to the Borrower and the Administrative Agent, and, from and after the effective date of such agreement, (i) such successor Lender shall have all the rights and obligations of the previous
Issuing Lender under this Agreement and the other Loan Documents (other than with respect to the rights of the retiring Issuing Lender with respect to Letters of Credit issued by such retiring Issuing Lender) and (ii) references herein and in
the other Loan Documents to the term “Issuing Lender” shall be deemed to refer to such successor or to any previous Issuing Lender, or to such successor and all previous Issuing Lenders, as the context shall require. After the resignation
of the Issuing Lender hereunder, the retiring Issuing Lender shall remain a party hereto and shall continue to have all the rights and obligations of an Issuing Lender under this Agreement and the other Loan Documents with respect to Letters of
Credit issued by it prior to such resignation, but shall not be required to issue additional Letters of Credit or to extend, renew or increase any existing Letter of Credit. 

3.13 Applicability of ISP. Unless otherwise expressly agreed by the Issuing Lender and the Borrower when a Letter of Credit is issued
(including pursuant to any such agreement applicable to any Existing Letter of Credit) and subject to applicable laws, the Letters of Credit shall be governed by and subject to the rules of the ISP. 

SECTION 4 

REPRESENTATIONS AND WARRANTIES 

To induce the Agents and the Lenders to enter into this Agreement, to make the initial Loans on the Closing Date and to make Loans and to
issue the Letters of Credit thereafter, the Borrower hereby represents and warrants to the Agents and each Lender, as to itself, each of its Subsidiaries and each other Loan Party, as applicable, that: 

  
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 4.1 Financial Condition. 

(a) [Reserved]. 
 (b) The audited
consolidated balance sheets of the Borrower and its Subsidiaries as of December 31, 2011, December 31, 2012 and December 31, 2013, and the related consolidated statements of income and of cash flows for the fiscal years ended on
such dates, reported on by and accompanied by an unqualified report from PricewaterhouseCoopers, present fairly in all material respects the consolidated financial condition of the Borrower and its Subsidiaries as at such date, and the consolidated
results of its operations and its consolidated cash flows for the respective fiscal years then ended. All such financial statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently
throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No Group Member has, as of the Closing Date, any material Guarantee Obligations, material contingent liabilities and liabilities
for taxes, or any long-term leases or unusual forward or long-term commitments, including any interest rate or foreign currency swap or exchange transaction or other obligation in respect of derivatives, that are not reflected in the most recent
financial statements referred to in this paragraph or have been incurred after the date of such financial statements in the ordinary course of such Group Member’s business that, in the case of material contingent liabilities, have not been
disclosed to the Lenders. During the period from December 31, 2013 to and including the date hereof, there has been no Disposition by any Group Member of any material part of its business or property. 

4.2 No Change. Since December 31, 2013, there has been no development or event that has had or could reasonably be expected
to have a Material Adverse Effect. 
 4.3 Existence; Compliance with Law. Each Group Member (a) is duly organized,
validly existing and in good standing under the laws of the jurisdiction of its organization, (b) has the power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the
business in which it is currently engaged, (c) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where the failure to be so qualified could reasonably be expected to have a
Material Adverse Effect and (d) is in material compliance with all Requirements of Law except in such instances in which (i) such Requirement of Law is being contested in good faith by appropriate proceedings diligently conducted and the
prosecution of such contest would not reasonably be expected to result in a Material Adverse Effect, or (ii) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a Material Adverse
Effect. 
 4.4 Power, Authorization; Enforceable Obligations. Each Loan Party has the power and authority, and the legal
right, to make, deliver and perform the Loan Documents to which it is a party and, in the case of the Borrower, to obtain extensions of credit hereunder. Each Loan Party has taken all necessary organizational action to authorize the execution,
delivery and performance of the Loan Documents to which it is a party and, in the case of the Borrower, to authorize the extensions of credit on the terms and conditions of this Agreement. No Governmental Approval or consent or authorization of,
filing with, notice to or other act by or in respect of, any other Person is required in connection with the extensions of credit hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement or any of the Loan
Documents, except (i) Governmental Approvals, consents, authorizations, filings and notices described in Schedule 4.4, which Governmental Approvals, consents, authorizations, filings and notices have been obtained or made and are in full
force and effect, and (ii) the filings referred to in Section 4.19. Each Loan Document has been duly executed and delivered on behalf of each Loan Party party thereto. This Agreement constitutes, and each other Loan Document upon
execution will constitute, a legal, valid and binding 

  
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obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 

4.5 No Legal Bar. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of
Letters of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate any material Requirement of Law (except as set forth in Schedule 4.5 but including any Operating Document of any Group Member) or any material
Contractual Obligation of any Group Member and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any material Requirement of Law or any such material Contractual
Obligation (other than the Liens created by the Security Documents). No Requirement of Law or Contractual Obligation applicable to the Borrower or any of its Subsidiaries could reasonably be expected to have a Material Adverse Effect. The absence of
obtaining the Governmental Approvals described in Schedule 4.5 and the violations of Requirements of Law referenced in Schedule 4.5 shall not have an adverse effect on any rights of the Lenders or any Agent pursuant to the Loan
Documents. 
 4.6 Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority
is pending or, to the knowledge of the Borrower, threatened by or against any Group Member or against any of their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or
thereby, or (b) that could reasonably be expected to have a Material Adverse Effect. 
 4.7 No Default. No Group Member
is in default under or with respect to any of its Contractual Obligations in any respect that could reasonably be expected to have a Material Adverse Effect. No Default or Event of Default has occurred and is continuing, nor shall either result from
the making of a requested credit extension. 
 4.8 Ownership of Property; Liens; Investments. Each Group Member has title in
fee simple to, or a valid leasehold interest in, all of its real property, and good title to, or a valid leasehold interest in, all of its other property, and none of such property is subject to any Lien except as permitted by
Section 7.3. No Loan Party owns any Investment except as permitted by Section 7.8. Section 10 of the Collateral Information Certificate sets forth a complete and accurate list of all real property owned by each
Loan Party as of the Closing Date, if any. Section 11 of the Collateral Information Certificate sets forth a complete and accurate list of all leases of real property under which any Loan Party is the lessee as of the Closing Date. 

4.9 Intellectual Property. Each Group Member owns, or is licensed to use, all Intellectual Property necessary for the conduct of
its business as currently conducted; provided that no representation is made in this sentence regarding infringement of rights of other Persons (which representation is the subject of the third sentence of this Section 4.9). No
claim has been asserted and is pending by any Person challenging or questioning any Group Member’s use of any Intellectual Property or the validity or effectiveness of any such Group Member’s Intellectual Property, nor does the Borrower
know of any valid basis for any such claim, unless such claim could not reasonably be expected to have a Material Adverse Effect. To the knowledge of the Loan Parties, the use of Intellectual Property by each Group Member, and the conduct of such
Group Member’s business, as currently conducted, does not infringe on or otherwise violate the rights of any Person, unless such infringement could not reasonably be expected to have a Material Adverse Effect, and there are no claims pending
or, to the knowledge of the Borrower, threatened to such effect unless such claim could not reasonably be expected to have a Material Adverse Effect. 

4.10 Taxes. Each Group Member has filed or caused to be filed all Federal, all income and all other material state and other tax
returns that are required to be filed and has paid all material taxes shown to 

  
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be due and payable on said returns or on any assessments made against it or any of its property and all other material taxes, fees or other charges imposed on it or any of its property by any
Governmental Authority (other than any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with, and to the extent required by, GAAP have been
provided on the books of the relevant Group Member); no tax Lien has been filed (other than Liens permitted by Section 7.3(c)), and, to the knowledge of the Borrower, no material claim is being asserted, with respect to any such tax, fee
or other charge that is not being contested in good faith by appropriate proceedings. 
 4.11 Federal Regulations. No part of
the proceeds of any Loans, and no other extensions of credit hereunder, will be used (a) for “buying” or “carrying” any “margin stock” within the respective meanings of each of the quoted terms under Regulation U
as now and from time to time hereafter in effect for any purpose that violates the provisions of the Regulations of the Board or (b) for any purpose that violates the provisions of the Regulations of the Board. If requested by any Lender or the
Administrative Agent, the Borrower will furnish to the Administrative Agent and each Lender a statement to the foregoing effect in conformity with the requirements of FR Form G-3 or FR Form U-1, as applicable, referred to in Regulation U. 

4.12 Labor Matters. Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect:
(a) there are no strikes or other labor disputes against any Group Member pending or, to the knowledge of the Borrower, threatened; (b) hours worked by and payment made to employees of each Group Member have not been in violation of the
Fair Labor Standards Act or any other applicable Requirement of Law dealing with such matters; and (c) all payments due from any Group Member on account of employee health and welfare insurance have been paid or accrued as a liability on the
books of the relevant Group Member. 
 4.13 ERISA.  

(a) Each Loan Party and each of its respective ERISA Affiliates are in compliance in all material respects with all applicable provisions and
requirements of ERISA with respect to each Pension Plan, and have performed all their obligations under each Pension Plan; 
 (b) no ERISA
Event has occurred or is reasonably expected to occur; 
 (c) each Loan Party and each of its respective ERISA Affiliates has met all
applicable requirements under the ERISA Funding Rules with respect to each Pension Plan, and no waiver of the minimum funding standards under the ERISA Funding Rules has been applied for or obtained; 

(d) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2)
of the Code) is at least 60%, and no Loan Party nor any of its respective ERISA Affiliates knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most
recent valuation date; 
 (e) as of the most recent valuation date for any Pension Plan, the amount of outstanding benefit liabilities (as
defined in Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities), does not exceed $100,000;

 (f) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder will not involve any
transaction that is subject to the prohibitions of Section 406 of ERISA or in connection with which taxes could be imposed pursuant to Section 4975(c)(1)(A)-(D) of the Code; 

  
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 (g) all liabilities under each Pension Plan are (i) funded to at least the minimum level
required by law, (ii) provided for or recognized in the financial statements most recently delivered to the Administrative Agent and the Lenders pursuant hereto or (iii) estimated in the formal notes to the financial statements most
recently delivered to the Administrative Agent and the Lenders pursuant hereto; and; 
 (h) (i) no Loan Party is nor will any such Loan
Party be a “plan” within the meaning of Section 4975(e) of the Code; (ii) the respective assets of the Loan Parties do not and will not constitute “plan assets” within the meaning of the United States Department of
Labor Regulations set forth in 29 C.F.R. §2510.3- 101; (iii) no Loan Party is nor will any such Loan Party be a “governmental plan” within the meaning of Section 3(32) of ERISA; and (iv) transactions by or with any Loan
Party are not and will not be subject to state statutes applicable to such Loan Party regulating investments of fiduciaries with respect to governmental plans. 

4.14 Investment Company Act; Other Regulations. No Loan Party is an “investment company,” or a company “controlled”
by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. Except as set forth in Schedule 4.5, no such Loan Party is subject to regulation under any Requirement of Law (other than Regulation
X), including the Federal Power Act, that may limit its ability to incur Indebtedness or that may otherwise render all or any portion of the Obligations unenforceable. 

4.15 Subsidiaries. Except as disclosed to the Administrative Agent by the Borrower in writing from time to time after the Closing Date,
(a) Schedule 4.15 sets forth the name and jurisdiction of organization of the Borrower and each Subsidiary of the Borrower and, as to each such Subsidiary, the percentage of each class of Capital Stock owned by any Loan Party, and
(b) there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying shares) of any nature relating to any
Capital Stock of the Borrower or any Subsidiary, except as may be created by the Loan Documents. 
 4.16 Use of Proceeds. The
proceeds of the Revolving Loans shall be used to refinance the obligations of the Borrower outstanding under the Subordinated Loan Agreement, to finance Permitted Acquisitions, to pay related fees and expenses and for general corporate purposes. All
or a portion of the proceeds of the Swingline Loans and the Letters of Credit shall be used for general corporate purposes. 
 4.17
Environmental Matters. Except as, in the aggregate, could not reasonably be expected to have a Material Adverse Effect: 
 (a) Except as
disclosed on Schedule 4.17, to the knowledge of the Group Members, the facilities and properties owned, leased or operated by any Group Member (the “Properties”) do not contain, and have not previously contained, any
Materials of Environmental Concern in amounts or concentrations or under circumstances that constitute or have constituted a violation of, or could give rise to liability under, any Environmental Law; 

(b) no Group Member has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability
regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the business operated by any Group Member (the “Business”), nor does the Borrower have knowledge or reason to
believe that any such notice will be received or is being threatened; 

  
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 (c) no Group Member has transported or disposed of Materials of Environmental Concern from the
Properties in violation of, or in a manner or to a location that could give rise to liability under, any Environmental Law, nor has any Group Member generated, treated, stored or disposed of Materials of Environmental Concern at, on or under any of
the Properties in violation of, or in a manner that could give rise to liability under, any applicable Environmental Law; 
 (d) no judicial
proceeding or governmental or administrative action is pending or, to the knowledge of the Borrower, threatened, under any Environmental Law to which any Group Member is or will be named as a party with respect to the Properties or the Business, nor
are there any consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business; 

(e) there has been no release or threat of release of Materials of Environmental Concern at or from the Properties arising from or related to
the operations of any Group Member or otherwise in connection with the Business, in violation of or in amounts or in a manner that could reasonably be expected to give rise to liability under Environmental Laws; 

(f) the Properties and all operations of the Group Members at the Properties are in compliance, and have in the last five years been in
compliance, with all applicable Environmental Laws, and except as disclosed on Schedule 4.17, to the knowledge of the Borrower, there is no contamination at, under or about the Properties or violation of any Environmental Law with respect to
the Properties or the Business; and 
 (g) no Group Member has assumed any liability of any other Person under Environmental Laws. 

4.18 Accuracy of Information, Etc. No statement or information contained in this Agreement, any other Loan Document or any other
document, certificate or statement furnished by or on behalf of any Loan Party to any Agent or the Lenders, or any of them, for use in connection with the transactions contemplated by this Agreement or the other Loan Documents, contained as of the
date such statement, information, document or certificate was so furnished, any untrue statement of a material fact or omitted to state a material fact necessary to make the statements contained herein or therein not misleading in any material
respect. The projections and pro forma financial information contained in the materials referenced above are based upon good faith estimates and assumptions believed by the Borrower to be reasonable at the time made, it being recognized by
the Lenders that such financial information as it relates to future events is not to be viewed as fact and that actual results during the period or periods covered by such financial information may differ from the projected results set forth therein
by a material amount. There is no fact known to any Responsible Officer that could reasonably be expected to have a Material Adverse Effect that has not been expressly disclosed herein, in the other Loan Documents or in any other documents,
certificates and statements furnished to any Agent and the Lenders for use in connection with the transactions contemplated hereby and by the other Loan Documents. 

4.19 Security Documents. 

(a) The Guarantee and Collateral Agreement is effective to create in favor of the Administrative Agent, for the ratable benefit of the Secured
Parties, a legal, valid and enforceable security interest in the Collateral described therein and the proceeds thereof. In the case of the Pledged Stock, if any, described in the Guarantee and Collateral Agreement that are securities represented by
stock certificates or otherwise constituting certificated securities within the meaning of Section 8-102(a)(15) of the UCC or the corresponding code or statute of any other applicable jurisdiction (“Certificated
Securities”), when certificates representing such Pledged Stock are delivered to the Administrative Agent, and in the case of the 

  
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other Collateral constituting personal property described in the Guarantee and Collateral Agreement, when financing statements and other filings specified on Schedule 4.19(a) in
appropriate form are filed in the offices specified on Schedule 4.19(a), the Administrative Agent, for the benefit of the Secured Parties, shall have a fully perfected Lien on, and security interest in, all right, title and interest of the
Loan Parties in such Collateral and the proceeds thereof, as security for the Obligations, in each case prior and superior in right to any other Person (except, in the case of Collateral other than Pledged Stock, Liens permitted by
Section 7.3 which are non-consensual permitted Liens, permitted purchase money Liens, or the interests of lessors under capital leases, and otherwise subject to the Intercreditor Agreement). As of the Closing Date, no Loan Party that is
a limited liability company or partnership has any Capital Stock that is a not Certificated Security. 
 (b) Any Mortgages delivered after
the Closing Date pursuant to Section 6.12 will be, upon execution, effective to create in favor of the Administrative Agent, for the benefit of the Secured Parties, a legal, valid and enforceable Lien on the Mortgaged Properties
described therein and proceeds thereof, and when the Mortgages are filed in the offices for the applicable jurisdictions in which the Mortgaged Properties are located, each such Mortgage shall constitute a fully perfected Lien on, and security
interest in, all right, title and interest of the Loan Parties in the Mortgaged Properties and the proceeds thereof, as security for the Obligations (as defined in the relevant Mortgage), in each case prior and superior in right to any other Person.

 4.20 Solvency; Fraudulent Transfer. The Loan Parties are, and after giving effect to the incurrence of all Indebtedness,
Obligations and obligations being incurred in connection herewith, Solvent. No transfer of property is being made by any Loan Party and no obligation is being incurred by any Loan Party in connection with the transactions contemplated by this
Agreement or the other Loan Documents with the intent to hinder, delay, or defraud either present or future creditors of such Loan Party.  

4.21 Regulation H. No Mortgage encumbers improved real property that is located in an area that has been identified by the Secretary of
Housing and Urban Development as an area having special flood hazards and in which flood insurance has not been made available under the National Flood Insurance Act of 1968.  

4.22 Designated Senior Indebtedness. The Loan Documents and all of the Obligations have been deemed “Designated Senior
Indebtedness” or a similar concept thereto, if applicable, for purposes of any other Indebtedness of the Loan Parties.  

4.23 [Reserved.] 
 4.24
Insurance. All insurance maintained by the Loan Parties is in full force and effect, all premiums have been duly paid, no Loan Party has received notice of violation or cancellation thereof, and there exists no default under any requirement of
such insurance. Each Loan Party maintains, with financially sound and reputable insurance companies insurance on all its property (and also with respect to its foreign receivables) in at least such amounts and against at least such risks (but
including in any event public liability, product liability and business interruption) as are usually insured against in the same general area by companies engaged in the same or a similar business.  

4.25 No Casualty. No Loan Party has received any notice of, nor does any Loan Party have any knowledge of, the occurrence or pendency
or contemplation of any Casualty Event affecting all or any material portion of its property.  

  
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 4.26 Accounts Receivable; Inventory. 

(a) To the extent any Account is designated in any Borrowing Base Certificate as an Eligible Account, such Account constitutes an Eligible
Account as of the date of such Borrowing Base Certificate. 
 (b) All statements made and all unpaid balances appearing in all invoices,
instruments and other documents evidencing the Accounts are and shall be true and correct and all such invoices, instruments and other documents, and all of the Borrower’s books and records are genuine and in all respects what they purport to
be. All sales and other transactions underlying or giving rise to each Account shall comply in all material respects with all applicable laws and governmental rules and regulations. To the best of the Borrower’s knowledge, all signatures and
endorsements on all documents, instruments, and agreements relating to all Accounts are genuine, and all such documents, instruments and agreements are legally enforceable in accordance with their terms. 

(c) As to each item of Inventory that is identified by the Borrower as Eligible Inventory or Eligible In-Transit Inventory in a Borrowing Base
Certificate submitted to Agent, such Inventory is (a) of good and merchantable quality, free from known defects, (b) not excluded as ineligible by virtue of one or more of the excluding criteria (other than any Agent-discretionary
criteria) set forth in the definition of Eligible Inventory or Eligible In-Transit Inventory, as applicable, and (c) constitutes Eligible Inventory or Eligible In-Transit Inventory, as applicable, as of the date of such Borrowing Base
Certificate. 
 4.27 Capitalization. Schedule 4.27 sets forth the beneficial owners of all Capital Stock of the
Borrower and its’ consolidated Subsidiaries, and the amount of Capital Stock held by each such owner, as of the Closing Date.  

4.28 Patriot Act. Each Loan Party is in compliance with the (a) Trading with the Enemy Act, as amended, and each of the
foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) the Patriot Act or the Bribery Act 2012. No
part of the proceeds of the loans made hereunder will be used by any Loan Party or any of their Affiliates, directly or indirectly, for any payments to any governmental official or employee, political party, official of a political party, candidate
for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977, as amended.  

4.29 OFAC. No Loan Party nor any of its Subsidiaries is in violation of any of the country or list based economic and trade sanctions
administered and enforced by OFAC. No Loan Party nor any of its Subsidiaries (a) is a Sanctioned Person or a Sanctioned Entity, (b) has its assets located in Sanctioned Entities, or (c) derives revenues from investments in, or
transactions with Sanctioned Persons or Sanctioned Entities. No proceeds of any Loan made hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned
Entity.  
 SECTION 5 

CONDITIONS PRECEDENT 

5.1 Conditions to Initial Extension of Credit. The effectiveness of this Agreement and the obligation of each Lender to make its
initial extension of credit hereunder shall be subject to the satisfaction, prior to or concurrently with the making of each such extension of credit on the Closing Date, of the following conditions precedent: 

  
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 (a) Loan Documents. The Collateral Agents shall have received each of the following, each
of which shall be in form and substance satisfactory to the Collateral Agents: 
 (i) this Agreement, executed and delivered by the Agents,
the Borrower and each Lender listed on Schedule 1.1A; 
 (ii) the Collateral Information Certificate, executed by a Responsible
Officer of the Loan Parties; 
 (iii) if required by any Revolving Lender, a Revolving Loan Note executed by the Borrower in favor of such
Revolving Lender; 
 (iv) if required by the Swingline Lender, the Swingline Loan Note executed by the Borrower in favor of such Swingline
Lender; 
 (v) the Guarantee and Collateral Agreement, executed and delivered by the Borrower and each other Grantor named therein; 

(vi) the Intercreditor Agreement, executed by the Borrower, the Administrative Agent and the Cash Flow Agent; 

(vii) each other Security Document, executed and delivered by the applicable Loan Party party thereto; 

(viii) a completed Compliance Certificate dated as of the Closing Date; 

(ix) a completed Liquidity Report dated as of the Closing Date; 

(x) a completed Transaction Report dated as of the Closing Date; and 

(xi) the Flow of Funds Agreement, certified by the Borrower. 

(b) [Reserved.]  
 (c)
Financial Statements. The Administrative Agent shall have received (i) audited consolidated financial statements of the Borrower for the fiscal years ended as of December 31, 2011, December 31, 2012, and December 31,
2013, and (ii) unaudited interim consolidated financial statements of the Borrower for the fiscal months ended March 31, 2014 and June 30, 2014 and each fiscal quarter ended thereafter that ends at least 15 days before the Closing
Date. 
 (d) Approvals. Except for the Governmental Approvals described in Schedule 4.4, all Governmental Approvals and
consents and approvals of, or notices to, any other Person (including the holders of any Capital Stock issued by any Loan Party) required in connection with the execution and performance of the Loan Documents, the consummation of the other
transactions contemplated hereby, shall have been obtained and be in full force and effect, and all applicable waiting periods shall have expired without any action being taken or threatened by any competent authority that could reasonably be
expected to restrain, prevent or otherwise impose burdensome conditions on the financing contemplated hereby. The absence of obtaining the Governmental Approvals described in Schedule 4.5 shall not have an adverse effect on any rights of the
Lenders, any Agent pursuant to the Loan Documents or an adverse effect on the Group Members with regard to their continuing operations. 

  
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 (e) Secretary’s or Managing Member’s Certificates; Certified Operating Documents;
Good Standing Certificates. The Administrative Agent shall have received a certificate of each Loan Party, dated the Closing Date and executed by the Secretary, Managing Member or equivalent officer of such Loan Party, substantially in the form
of Exhibit C, with appropriate insertions and attachments, including (i) the Operating Documents of such Loan Party, (ii) the relevant board resolutions or written consents of such Loan Party adopted by such Loan Party for the
purposes of authorizing such Loan Party to enter into and perform the Loan Documents to which such Loan Party is party and (iii) the names, titles, incumbency and signature specimens of those representatives of such Loan Party who have been
authorized by such resolutions and/or written consents to execute Loan Documents on behalf of such Loan Party, (iv) a long form good standing certificate for each Loan Party certified as of a recent date by the appropriate Governmental
Authority of its respective jurisdiction of organization, and (v) certificates of qualification as a foreign corporation issued by each jurisdiction in which the failure of the applicable Loan Party to be so qualified could reasonably be
expected to result in a Material Adverse Effect. 
 (f) Responsible Officer’s Certificates.  

(i) The Administrative Agent shall have received a certificate signed by a Responsible Officer of each Loan Party, dated as of the Closing
Date, in form and substance reasonably satisfactory to it, either (A) attaching copies of all consents, licenses and approvals required in connection with the execution, delivery and performance by such Loan Party and the validity against such
Loan Party of the Loan Documents to which it is party, and such consents, licenses and approvals shall be in full force and effect, or (B) stating that no such consents, licenses or approvals are so required. 

(ii) The Administrative Agent shall have received a certificate signed by a Responsible Officer of the Borrower, dated as of the Closing Date
and in form and substance reasonably satisfactory to it, certifying (A) that the conditions specified in Sections 5.2(a) and (e) have been satisfied, and (B) that there has been no event or circumstance since
December 31, 2013, that has had or that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(g) Patriot Act. The Administrative Agent shall have received, prior to the Closing Date, all documentation and other information
required by Governmental Authorities under applicable “know your customer” and anti-money-laundering rules and regulations, including the Patriot Act. 

(h) Due Diligence Investigation. The Administrative Agent shall have completed a due diligence investigation of the Borrower and its
Subsidiaries in scope, and with results, satisfactory to the Administrative Agent and shall have been given such access to the management, records, books of account, contracts and properties of the Borrower and its Subsidiaries and shall have
received such financial, business and other information regarding each of the foregoing Persons and businesses as it shall have requested. No changes or developments shall have occurred, and no new or additional information, shall have been received
or discovered by the Administrative Agent or the Lenders regarding the Borrower and its Subsidiaries or the transactions contemplated hereby after the date such due diligence investigation has been completed that (A) either individually or in
the aggregate, could reasonably be expected to have a Material Adverse Effect or (B) purports to adversely affect the Facilities or any other aspect of the transactions contemplated hereby, and nothing shall have come to the attention of the
Administrative Agent or any Lender to lead them to believe that (x) the Information Materials (as defined in the Engagement Letter) were or have become misleading, incorrect or incomplete in any material respect, or (y) the transactions
contemplated hereby will have a Material Adverse Effect. 
 (i) Reports. The Collateral Agents shall have received, in form and
substance satisfactory to such persons, all asset appraisals, field audits, and such other reports and certifications, as it has reasonably requested. 

  
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 (j) Subordinated Loan Agreement, Etc. The Borrower shall have provided notice to the
Subordinated Lenders (in accordance with the terms of the Subordinated Loan Agreement) of its intent to pay all obligations of the Group Members outstanding under the Subordinated Loan Agreement on the Closing Date, (B) the Administrative Agent
shall have received the Payoff Letter executed by the Subordinated Lenders and the Borrower, (C) all obligations of the Group Members in respect of the Subordinated Loan Agreement shall, substantially contemporaneously with the funding of
certain Loan proceeds on the Closing Date directly to the Subordinated Lenders as contemplated by Sections 2.2 and 2.5 and the Flow of Funds Agreement, have been paid in full, (D) the Administrative Agent shall be satisfied that
all actions necessary to terminate the agreements evidencing the obligations of the Group Members in respect of the Subordinated Loan Agreement and the Liens of the Subordinated Lenders in the assets of the Group Members securing obligations under
the Subordinated Loan Agreement shall have been, or substantially contemporaneously with the Closing Date, shall be, taken, and (E) the Administrative Agent shall have received such other documents and information related to the Subordinated
Loan Agreement and the refinancing thereof as it may request. 
 (k) Collateral Matters.  

(i) Lien Searches. The Administrative Agent shall have received the results of recent lien searches in each of the jurisdictions where
any of the Loan Parties is formed or organized, and such searches shall reveal no liens on any of the assets of the Loan Parties except for Liens permitted by Section 7.3, Liens to be discharged on or prior to the Closing Date, or Liens
securing obligations of the Group Members under the Subordinated Loan Agreement, which Liens shall be discharged substantially contemporaneously with the Closing Date pursuant to the Payoff Letter. 

(ii) Pledged Stock; Stock Powers; Pledged Notes. Subject to Section 5.3, the Administrative Agent shall have received
original versions of (A) the certificates representing the shares of Capital Stock pledged to the Administrative Agent (for the ratable benefit of the Secured Parties) pursuant to the Guarantee and Collateral Agreement, together with an undated
stock power for each such certificate executed in blank by a duly authorized officer of the pledgor thereof, and (B) each promissory note (if any) pledged to the Administrative Agent (for the ratable benefit of the Secured Parties) pursuant to
the Guarantee and Collateral Agreement, endorsed (without recourse) in blank (or accompanied by an executed transfer form in blank) by the pledgor thereof. 

(iii) Filings, Registrations, Recordings, Agreements, Etc. Each document (including any UCC financing statements, Deposit Account
Control Agreements, Securities Account Control Agreements, and landlord access agreements and/or bailee waivers) required by the Loan Documents or under law or reasonably requested by the Administrative Agent to be filed, executed, registered or
recorded to create in favor of the Administrative Agent (for the ratable benefit of the Secured Parties), a perfected Lien on the Collateral described therein, prior and superior in right and priority to any Lien in the Collateral held by any other
Person (other than with respect to Liens expressly permitted by Section 7.3), shall have been executed (if applicable) and delivered to the Administrative Agent in proper form for filing, registration or recordation. 

(l) Insurance. The Administrative Agent shall have received (i) insurance certificates satisfying the requirements of
Section 6.6 hereof and Section 5.2(b) of the Guaranty and Collateral Agreement, together with evidence reasonably satisfactory to the Administrative Agent that the insurance policies of each Loan Party have been endorsed for
the purpose of naming the Administrative Agent (for the ratable benefit of the Secured Parties) as an “additional insured” or “lender loss payee”, as applicable, with respect to such insurance policies, and (ii) a domestic
and a foreign receivables insurance policy issued by EULER American Credit Indemnity under which the Administrative Agent is named as beneficiary or is assigned rights to such claims, in each case of clauses (i) and (ii), in form
and substance satisfactory to the Administrative Agent. 

  
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 (m) Fees. The Lenders and the Agents shall have received all fees required to be paid on
or prior to the Closing Date (including pursuant to the Fee Letter), and all reasonable and documented fees and expenses for which invoices have been presented (including the reasonable and documented fees and expenses of legal counsel to each
Agent) for payment on or before the Closing Date. All such amounts will be paid with proceeds of Loans made on the Closing Date and will be reflected in the Flow of Funds Agreement. 

(n) Legal Opinion. The Administrative Agent shall have received the executed legal opinion of Fenwick & West LLP, counsel to
the Loan Parties, in form and substance reasonably satisfactory to the Administrative Agent. Such legal opinion shall cover such matters incident to the transactions contemplated by this Agreement and the other Loan Documents as the Administrative
Agent may reasonably require. 
 (o) Borrowing Notice. The Administrative Agent shall have received, in respect of any
Revolving Loans to be made on the Closing Date, a completed Notice of Borrowing executed by the Borrower and otherwise complying with the requirements of Section 2.5. 

(p) Solvency Certificate. The Administrative Agent shall have received a Solvency Certificate from the chief financial officer or
treasurer of the Borrower. 
 (q) No Material Adverse Effect. There shall not have occurred since December 31, 2013 any event or
condition that has had or could be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. 
 (r) No
Litigation. No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of any Group Member, threatened, that could reasonably be expected to be determined adversely to any
Group Member which, if so determined, could reasonably be expected to have a Material Adverse Effect. 
 (s) Consistency. The final
terms and conditions of each aspect of the Transaction, including, without limitation, all tax aspects thereof, shall be (i) as described in the Engagement Letter, and otherwise consistent with the description thereof provided to Administrative
Agent in writing or (ii) otherwise reasonably satisfactory to Administrative Agent and the Lenders. 
 (t) Cash Flow Credit
Agreement, Etc. The Administrative Agent shall have received a fully executed Cash Flow Credit Agreement certified by a Responsible Officer to be a true and complete copy of the Cash Flow Credit Agreement. 

For purposes of determining compliance with the conditions specified in this Section 5.1, each Lender that has executed this
Agreement shall be deemed to have consented to, approved or accepted or to be satisfied with, each document or other matter either sent (or made available) by the Administrative Agent to such Lender for consent, approval, acceptance or satisfaction,
or required thereunder to be consented to or approved by or acceptable or satisfactory to such Lender, unless an officer of the Administrative Agent responsible for the transactions contemplated by the Loan Documents shall have received notice from
such Lender prior to the Closing Date specifying such Lender’s objection thereto and either such objection shall not have been withdrawn by notice to the Administrative Agent to that effect on or prior to the Closing Date or, if any extension
of credit on the Closing Date has been requested, such Lender shall not have made available to the Administrative Agent on or prior to the Closing Date such Lender’s Revolving Percentage of such requested extension of credit. 

  
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 5.2 Conditions to Each Extension of Credit. The agreement of each Lender to make any
extension of credit requested to be made by it hereunder on any date (including its initial Loans disbursed on the Closing Date but excluding any Revolving Loan Conversion, any conversion of Loans pursuant to Section 2.13(a) and any
continuation of Loans pursuant to Section 2.13(b)) is subject to the satisfaction of the following conditions precedent: 
 (a)
Representations and Warranties. Each of the representations and warranties made by each Loan Party in or pursuant to any Loan Document (i) that is qualified by materiality shall be true and correct, and (ii) that is not qualified by
materiality, shall be true and correct in all material respects, in each case, on and as of such date as if made on and as of such date, except to the extent any such representation and warranty expressly relates to an earlier date, in which case
such representation and warranty shall have been true and correct in all material respects as of such earlier date. 
 (b) Transaction
Report. The Borrower shall have delivered to the Administrative Agent a duly executed original Transaction Report, dated as of the date of the requested extension of credit hereunder (it being understood and agreed that (i) information
relating to Eligible Accounts, Eligible In-Transit Inventory, and Eligible Inventory included in such Transaction Report may be the same as set forth in the most recent Transaction Report required to be delivered pursuant to
Section 6.2(g)(i) and does not have to be further updated by Borrower as of the date of the requested extension of credit hereunder) and (ii) information as to Revolving Extensions of Credit should include pro forma information
giving effect to the requested Revolving Extension of Credit. 
 (c) Availability. With respect to any requests for any Revolving
Extensions of Credit, after giving effect to such Revolving Extension of Credit, the availability and borrowing limitations specified in Section 2.4 and Section 3.1 shall be complied with. 

(d) Notices of Borrowing; Other Documentation. The Administrative Agent shall have received a Notice of Borrowing (and with respect to
requested Letters of Credit, all documentation required by Section 3.2) in connection with any such request for extension of credit which complies with the requirements hereof. 

(e) No Default. No Default or Event of Default shall have occurred and be continuing as of or on such date or after giving effect to
the extensions of credit requested to be made on such date. 
 Each borrowing by and issuance of a Letter of Credit on behalf of the
Borrower hereunder and each Revolving Loan Conversion (excluding any Revolving Loan Conversion, any conversion of Loans pursuant to Section 2.13(a) and any continuation of Loans pursuant to Section 2.13(b)) shall constitute a
representation and warranty by the Borrower as of the date of such extension of credit or Revolving Loan Conversion, as applicable, that the conditions contained in this Section 5.2 have been satisfied. 

5.3 Post-Closing Condition Subsequent.  

Within 45 days after the Closing Date (or such other date as the Collateral Agents shall agree in their sole discretion), the Borrower shall
cause to be delivered to the Administrative Agent (a) certificates (together with appropriate instruments of transfer, executed in blank), if any, representing up to 66% of the total outstanding voting Capital Stock (and 100% of the non- voting
Capital Stock) of each of the Subsidiaries set forth on Schedule 5.3, in each case that is required to be pledged to the Administrative Agent pursuant to the Guarantee and Collateral Agreement, and (b) lender’s loss payable,
additional insured and notice of cancellation endorsements, as applicable, with respect to each Group Member’s liability and property insurance policies, in each case, in form and substance reasonably satisfactory to the Administrative Agent.

  
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 SECTION 6 

AFFIRMATIVE COVENANTS 
 The
Borrower hereby agrees that, at all times prior to the Discharge of Obligations, the Borrower shall and, where applicable, shall cause each of its Subsidiaries to: 

6.1 Financial Statements. Furnish to the Administrative Agent, with sufficient copies for distribution to each Lender: 

(a) as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower (or, if earlier, 15 days after
the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC) following a Qualified IPO or other securities offering, a copy of the audited consolidated and consolidating balance sheet of the Borrower and
its consolidated Subsidiaries as at the end of such fiscal year and the related audited consolidated and consolidating statements of income and of cash flows for such fiscal year, setting forth in each case in comparative form the figures for the
previous year, together with an unqualified opinion by PricewaterhouseCoopers or other independent certified public accountants of nationally recognized standing and reasonably acceptable to the Administrative Agent; 

(b) [reserved]; and 
 (c) as
soon as available, but in any event not later than 30 days after the end of each month occurring during each fiscal year of the Borrower, the unaudited consolidated and consolidating balance sheet of the Borrower and its consolidated Subsidiaries as
at the end of such month and the related unaudited consolidated and consolidating statements of income and of cash flows for such month and the portion of the fiscal year through the end of such month, setting forth in each case in comparative form
the figures for the previous year, certified by a Responsible Officer of the Borrower as being fairly stated in all material respects (subject to normal year-end audit adjustments). 

All such financial statements shall be complete and correct in all material respects and shall be prepared in reasonable detail and in
accordance with GAAP applied (except as approved by such accountants or officer, as the case may be, and disclosed in reasonable detail therein) consistently throughout the periods reflected therein and with prior periods. 

6.2 Certificates; Reports; Other Information. Furnish (or, in the case of clause (a), use commercially reasonable efforts to
furnish) to the Administrative Agent, for distribution to each Agent and Lender (or, in the case of clause (k), to the relevant Agent or Lender): 

(a) [reserved]; 
 (b)
concurrently with the delivery of any financial statements pursuant to Section 6.1, (i) a certificate of a Responsible Officer stating that, to the best of such Responsible Officer’s knowledge, each Loan Party during such
period has observed or performed all of its covenants and other agreements, and satisfied every condition contained in this Agreement and the other Loan Documents to which it is a party to be observed, performed or satisfied by it, and that such
Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such certificate and (ii) in the case of all monthly or annual financial statements, (x) a Compliance Certificate containing all
information and calculations necessary for determining compliance by each Group Member with the provisions of this Agreement referred to therein as of the last day of the month or fiscal year of the Borrower, as the case may be, and (y) to the
extent not previously disclosed to the Administrative Agent, a description of any change in the jurisdiction of organization of any Loan Party and a list of any Intellectual Property issued to or acquired by any Loan Party since the date of the most
recent report delivered pursuant to this clause (y) (or, in the case of the first such report so delivered, since the Closing Date); 

  
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 (c) as soon as available, and in any event no later than 45 days after the end of each fiscal
year of the Borrower, a detailed consolidated budget for such immediately subsequent fiscal year (including a projected consolidated balance sheet of the Borrower and its Subsidiaries as of the end of each fiscal quarter of such fiscal year, the
related consolidated statements of projected cash flow, projected changes in financial position and projected income and a description of the underlying assumptions applicable thereto, projected Available Revolving Commitment and covenant compliance
for each fiscal quarter period of such fiscal year), and, as soon as available, significant revisions, if any, of such budget and projections with respect to such fiscal year (collectively, the “Projections”), which
Projections shall in each case be accompanied by a certificate of a Responsible Officer of the Borrower stating that such Projections are based upon good faith estimates and assumptions believed by the Borrower to be reasonable at the time made, it
being recognized that Projections are not to be viewed as fact and that actual results during the period or periods covered by such Projections may differ from the projected results set forth therein by a material amount; 

(d) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of
each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other operational
results of any Loan Party or any Subsidiary thereof (other than routine comment letters from the staff of the SEC relating to the Borrower’s filings with the SEC); 

(e) within five days after the same are sent, copies of each annual report, proxy or financial statement or other material report that the
Borrower sends to the holders of any class of the Borrower’s debt securities or public equity securities and, within five days after the same are filed, copies of all annual, regular, periodic and special reports and registration statements
which the Borrower may file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any national securities exchange, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(f) upon request by the Administrative Agent, within five days after the same are sent or received, copies of all correspondence, reports,
documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law and that could reasonably be expected to have a Material Adverse Effect on any of the Governmental
Approvals or otherwise on the operations of the Group Members; 
 (g) (i) (A) if a Streamline Period is not then in effect, not later
than 3 days after the end of each week, and (B) while a Streamline Period is in effect, not later than 20 days after the end of each month, and in each case at any other times reasonably requested by any Agent, and (ii) prior to any
borrowing of Revolving Loans or making of any Revolving Extensions of Credit, in each case of clauses (i) and (ii): (1) a Transaction Report (including, for the avoidance of doubt, a Borrowing Base Certificate) accompanied by
such supporting detail and documentation as shall be requested by any Agent in its reasonable discretion (including supporting schedules and reports relied on to compile the Transaction Report), (2) accounts receivable agings, aged by invoice
date, (3) Inventory perpetual reports, (4) accounts payable agings, aged by invoice date, and outstanding or held check registers, if any, (5) a Deferred Revenue schedule, (6) a sell through report, and (7) reconciliations
of accounts receivable agings (aged by invoice date) and general ledger; 
 (h) concurrently with the delivery of the financial statements
referred to in Section 6.1(c), copies of all written reports, presentations or memoranda with respect to results of operations or financial information of any Group Member that have been delivered to the Board of Directors of the
Borrower for such month, excluding any material determined by the Borrower in good faith to be highly sensitive or confidential; 

  
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 (i) concurrently with the delivery of the financial statements referred to in
Section 6.1(a), a report of a reputable insurance broker with respect to the insurance coverage required to be maintained pursuant to Section 6.6 and the terms of the Guarantee and Collateral Agreement, together with any
supplemental reports with respect thereto which any Agent may reasonably request; 
 (j) (i) if a Streamline Period is not then in effect,
not later than 3 days after the end of each week, (ii) while a Streamline Period is in effect, not later than 20 days after the end of each month, and (iii) more frequently as may be reasonably requested by any Agent, a Liquidity Report
(together with supporting details, cash reporting, and backup) as of such date; 
 (k) not later than 20 days after the end of each calendar
month, a report, in form and substance reasonably satisfactory to the Collateral Agents, with respect to BrightPoint A/P as of the last day of such month; and 

(l) promptly, such additional financial and other information as any Agent or any Lender may from time to time reasonably request. 

6.3 Accounts Receivable and Inventory. 

(a) Schedules and Documents Relating to Accounts. The Borrower shall deliver to the Collateral Agents (i) Transaction Reports and
(ii) schedules of collections, as provided in Section 6.2, on the Administrative Agent’s standard forms. If requested by any Collateral Agent, the Borrower shall furnish the Collateral Agents with copies of all contracts,
orders, invoices, and other similar documents, and all shipping instructions, delivery receipts, bills of lading, and other evidence of delivery, for any goods the sale or disposition of which gave rise to the Accounts relating to such collections.
In addition, the Borrower shall deliver to the Administrative Agent, upon any Collateral Agent’s reasonable request therefor, the originals of all instruments, chattel paper, security agreements, guarantees and other documents and property
evidencing or securing any Accounts, in the same form as received, with all necessary endorsements, and copies of all credit memos. 
 (b)
Disputes. The Borrower shall promptly notify the Collateral Agents of each dispute or claim relating to Accounts which alleges or involves an amount in excess of $100,000. The Borrower may forgive (completely or partially), compromise, or
settle any Account for less than payment in full, or agree to do any of the foregoing at any time so long as (i) the Borrower does so in good faith, in a commercially reasonable manner, in the ordinary course of business, in arm’s-length
transactions, and promptly reports the same to the Collateral Agents in the regular reports provided to the Collateral Agents (and excluded such account from Eligible Accounts); (ii) no Default or Event of Default has occurred and is continuing
at such time; and (iii) after taking into account all such discounts, settlements and forgiveness, the Total Revolving Extensions of Credit then outstanding will not exceed the Available Revolving Commitments then in effect. 

(c) Collection of Accounts. Each Loan Party shall (A) establish and maintain cash management services of a type and on terms
reasonably satisfactory to the Collateral Agents and shall take reasonable steps to ensure that all of its and its Subsidiaries’ Account Debtors forward payment of the amounts owed by them directly to a Deposit Account subject to a Control
Agreement that is a Collection Account, and (B) deposit or cause to be deposited promptly, and in any event no later than the first Business Day after the date of receipt thereof, all of their collections (including those sent directly by their
Account Debtors to a Loan Party) into a Deposit Account subject to a Control Agreement that is a Collection Account. Each Loan Party shall hold all payments on, and proceeds of, its Accounts that it receives in trust for the 

  
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Administrative Agent and shall immediately deliver all such payments and proceeds to the Administrative Agent in their original form, duly endorsed, by depositing all proceeds of such Accounts
into one or more lockbox accounts, or via electronic deposit capture into a “blocked account” as the Administrative Agent may specify (a “Collection Account”), in each case pursuant to a blocked account agreement in
such form as the Administrative Agent may specify in its good faith business judgment. Any such amounts actually paid to the Collection Account or otherwise collected by the Administrative Agent pursuant to this Section 6.3(c) shall be
applied by the Administrative Agent on a daily basis to the reduction of the Revolving Loans then outstanding; provided that (i) if a Streamline Period is then in effect or (ii) to the extent that (A) any amount of such
payments or collections remains after the application by the Administrative Agent thereof to the payment in full of the Revolving Loans then outstanding and the Cash Collateralization of the then effective L/C Exposure in an amount equal to 105% of
such L/C Exposure, (B) such remaining amount is not otherwise required to be applied to the Obligations pursuant to any other Section of this Agreement, and (C) no Default or Event of Default has occurred and is continuing, then such
remaining amount shall, to the extent permitted by applicable law, be returned to a depository account of the Borrower maintained with the Administrative Agent and subject to a Control Agreement. 

(d) Returns. Upon the request of any Collateral Agent, the Borrower shall promptly provide such Agent with an Inventory return history.

 (e) Verification. Any Collateral Agent may, from time to time, verify directly with the respective Account Debtors the validity,
amount and other matters relating to the Accounts, either in the name of a Borrower or such Agent or such other name as such Agent may choose; provided that, in the event that any Collateral Agent conducts verifications as provided above with
respect to any single Account Debtor more than twice per calendar year (absent the occurrence and continuation of an Event of Default), the Administrative Agent will endeavor to provide the Borrower with written notice prior to conducting any such
additional verification, provided that failure to provide such written notice shall not adversely affect the right of any Collateral Agent to conduct such verification. 

(f) No Liability. The Collateral Agents shall not be responsible or liable for any shortage or discrepancy in, damage to, or loss or
destruction of, any goods, the sale or other disposition of which gives rise to an Account, or for any error, act, omission, or delay of any kind occurring in the settlement, failure to settle, collection or failure to collect any Account, or for
settling any Account in good faith for less than the full amount thereof, nor shall any Collateral Agent be deemed to be responsible for any of the Borrower’s obligations under any contract or agreement giving rise to an Account. Nothing herein
shall, however, relieve any Collateral Agent from liability for its own gross negligence or willful misconduct. 
 (g) Inventory
Report. The Borrower agrees to use commercially reasonable efforts to deliver to the Collateral Agents an Inventory Report on or prior to December 31, 2014; provided that if the Borrower has not delivered such a report by such date,
the Collateral Agents may immediately (and without notice to the Borrower) impose Reserves against the Borrowing Base in amounts determined by the Collateral Agents in their reasonable credit judgment (“Inventory Reporting
Reserve”), which Inventory Reporting Reserve shall remain in effect until such time as the Borrower has delivered an Inventory Report to the Collateral Agents. Once the first such Inventory Report is delivered to the Collateral Agents,
the Borrower agrees to deliver an updated Inventory Report at the times the Borrower is required to deliver a Transaction Report to the Administrative Agent in accordance with Section 6.2(g). 

6.4 Payment of Obligations; Taxes.  

(a) Pay, discharge or otherwise satisfy at or before maturity or before they become delinquent, as the case may be, all its material
obligations (including all material Taxes and material Other Taxes imposed by law on an applicable Loan Party) of whatever nature, except where the amount or validity thereof is currently being contested in good faith by appropriate proceedings and
reserves in conformity with GAAP with respect thereto have been provided on the books of the relevant Group Member. 

  
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 (b) File or cause to be filed all Federal, all income and all other material state and other
material tax returns that are required to be filed. 
 6.5 Maintenance of Existence; Compliance. (a)(i) Preserve, renew and keep in
full force and effect its organizational existence and (ii) take all reasonable action to maintain or obtain all Governmental Approvals and all other rights, privileges and franchises necessary in the normal conduct of its business or necessary
for the performance by such Person of its Obligations under any Loan Document, except, in each case, as otherwise permitted by Section 7.4 and except, in the case of clause (ii) above, to the extent that failure to do so
could not reasonably be expected to have a Material Adverse Effect; (b) comply with all Contractual Obligations (including with respect to leasehold interests of the Borrower) and Requirements of Law except to the extent that failure to comply
therewith could not, in the aggregate, reasonably be expected to have a Material Adverse Effect; and (c) comply with each Governmental Approval, and any term, condition, rule, filing or fee obligation, or other requirement related thereto,
except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect. Without limiting the generality of the foregoing, the Borrower shall, and shall cause each of its ERISA Affiliates to: (1) maintain
each Pension Plan in compliance in all material respects with the applicable provisions of ERISA, the Code or other Federal or state law; (2) cause each Pension Plan to maintain its qualified status under Section 401(a) of the Code;
(3) make all required contributions to any Pension Plan; (4) not become a party to any Multiemployer Plan; (5) ensure that all liabilities under each Pension Plan are either (x) funded to at least the minimum level required by
law or, if higher, to the level required by the terms governing such Pension Plan; (y) insured with a reputable insurance company; or (z) provided for or recognized in the financial statements most recently delivered to the Administrative
Agent and the Lenders pursuant hereto; and (6) ensure that the contributions or premium payments to or in respect of each Pension Plan are and continue to be promptly paid at no less than the rates required under the rules of such Pension Plan
and in accordance with the most recent actuarial advice received in relation to such Pension Plan and applicable law. 
 6.6 Maintenance
of Property; Insurance. (a) Keep all property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and (b) maintain with financially sound and reputable insurance companies insurance
on all its property (and also with respect to its foreign receivables) in at least such amounts and against at least such risks (but including in any event public liability, product liability and business interruption) as are usually insured against
in the same general area by companies engaged in the same or a similar business. 
 6.7 Inspection of Property; Books and Records;
Discussions. (a) Keep proper books of records and account in which full, true and correct entries in conformity with GAAP and all Requirements of Law shall be made of all dealings and transactions in relation to its business and activities
and (b) permit representatives and independent contractors of any Collateral Agent and any Lender to visit and inspect any of its properties and examine and make abstracts from any of its books and records at any reasonable time and as often as
may reasonably be desired and to discuss the business, operations, properties and financial and other condition of the Group Members with officers, directors and employees of the Group Members and with their independent certified public accountants.
Unless a Default or an Event of Default has occurred and is continuing (in which case such visits and inspections shall occur as often as any Collateral Agent shall reasonably determine is necessary and shall be at the expense of Borrower), Borrower
shall not be obligated to reimburse the Collateral Agents and the Lenders for visits and inspections that occur more frequently than (a) if a Streamline Period is then in effect, once per calendar year, and (b) if a Streamline Period is not
then in effect, twice per calendar year. In any Collateral Agent’s sole discretion, the representatives and independent contractors of such Agent and any Lender may conduct additional visits and inspections of the Group Members’ properties
more frequently at the Lenders’ expense. The foregoing limitations shall not operate to limit any reimbursement obligations of Borrower under Section 6.11. 

  
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 6.8 Notices. Give prompt written notice to the Administrative Agent of: 

(a) the occurrence of any Default or Event of Default; 

(b) any (i) default or event of default under any Contractual Obligation of any Group Member that, if not cured or if adversely
determined, as the case may be, could reasonably be expected to have a Material Adverse Effect; and (ii) litigation, investigation or proceeding that may exist at any time between any Group Member and any Governmental Authority that, if not
cured or if adversely determined, as the case may be, could reasonably be expected to have a Material Adverse Effect, in each case after a Responsible Officer first has knowledge thereof; 

(c) any litigation or proceeding affecting any Group Member (i) in which the amount involved is $100,000 or more and not covered by
insurance, (ii) in which injunctive or similar relief is sought against any Group Member, or (iii) which relates to any Loan Document, in each case after a Responsible Officer first has knowledge thereof; 

(d) (i) promptly after a Responsible Officer first has knowledge of the occurrence of any of the following events affecting any Loan Party or
any of its respective ERISA Affiliates (but in no event more than ten days after such event), the occurrence of any of the following events, and shall provide the Administrative Agent with a copy of any notice with respect to such event that may be
required to be filed with a Governmental Authority and any notice delivered by a Governmental Authority to the Borrower or any of its ERISA Affiliates with respect to such event, if such event could reasonably be expected to result in liability in
excess of $100,000 of any Loan Party or any of their respective ERISA Affiliates: (A) an ERISA Event, (B) the adoption of any new Pension Plan by the Borrower or any ERISA Affiliate, (C) the adoption of any amendment to a Pension
Plan, if such amendment will result in a material increase in benefits or unfunded benefit liabilities (as defined in Section 4001(a)(18) of ERISA), or (D) the commencement of contributions by the Borrower or any ERISA Affiliate to any
Pension Plan that is subject to Title IV of ERISA or Section 412 of the Code; and 
 (ii) upon the reasonable request of the
Administrative Agent after the giving, sending or filing thereof, or the receipt thereof, copies of each Schedule B (Actuarial Information) to the annual report (Form 5500 Series) filed by Loan Party or any of its respective ERISA Affiliates with
the IRS with respect to each Pension Plan; and 
 (iii) promptly after the receipt thereof by any Loan Party or any of its respective ERISA
Affiliates, all notices from a Multiemployer Plan sponsor concerning an ERISA Event that could reasonably be expected to result in a liability in excess of $100,000 of any Loan Party or any of its respective ERISA Affiliates; 

(e) (i) any issuance by any Group Member of any Capital Stock (other than ordinary course stock options and the stock issued on the exercise
thereof by the Borrower to its employees in the ordinary course of business) and (ii) any incurrence by any Group Member of any Indebtedness (other than Indebtedness constituting Loans) in a principal amount equaling or exceeding $100,000; 

(f) any material change in accounting policies or financial reporting practices by any Loan Party; 

  
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 (g) the Borrower’s election to enter into a Streamline Period in accordance with the
definition thereof; 
 (h) the occurrence of a Streamline Termination Date; 

(i) any development or event that has had or could reasonably be expected to have a Material Adverse Effect after a Responsible Officer first
has knowledge thereof; and 
 (j) the incurrence of any Qualifying Foreign Subsidiary Indebtedness. 

Each notice pursuant to this Section 6.8 shall be accompanied by a statement of a Responsible Officer of the Borrower setting
forth details of the occurrence referred to therein and stating what action the relevant Group Member proposes to take with respect thereto. 

6.9 Environmental Laws. 

(a) Comply in all material respects with, and use reasonable commercial efforts to bring about compliance in all respects by all tenants and
subtenants, if any, with, all applicable Environmental Laws, and obtain and comply in all respects with and maintain, and use reasonable commercial efforts to bring about that all tenants and subtenants obtain and comply in all respects with and
maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws. 
 (b) Conduct
and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under Environmental Laws and promptly comply in all respects with all lawful orders and directives of all Governmental Authorities
regarding Environmental Laws. 
 6.10 Operating Accounts. Maintain the Borrower’s and its Subsidiaries’ primary depository
and operating accounts and securities accounts with SVB or with SVB’s Affiliates. 
 6.11 Audits, Appraisals and Field
Examinations. At reasonable times, on reasonable prior notice (provided that no prior notice shall be required if a Default or an Event of Default has occurred and is continuing), each Collateral Agent, or its respective agents, shall
have the right to inspect the Collateral, conduct appraisals and field examinations, and the right to audit and copy any and all of any Loan Party’s books and records including ledgers, federal and state tax returns, records regarding assets or
liabilities, the Collateral, business operations or financial condition, and all computer programs or storage or any equipment containing such information. The foregoing inspections, appraisals, field examinations and audits shall be conducted at
the Borrower’s expense and Borrower shall be obligated to (a) reimburse each Collateral Agent for the fees or charges paid or incurred by such Collateral Agent if it elects to employ the services of one or more third Persons to perform
field examinations or audits or to appraise the Collateral, or any portion thereof, and (b) for each field examination of Borrower or any of its Subsidiaries performed by personnel employed by a Collateral Agent, pay to such Collateral Agent a
fee of $850 per day (or such higher amount as shall represent such Agent’s then-current standard charge for the same), per examiner, plus reimburse such Collateral Agent for all out-of-pocket expenses (including travel, meals, and lodging) in
connection therewith. The Collateral Agents will use commercially reasonable efforts to provide the Borrower in advance with an estimate of the costs and expenses of each examination and an estimate of the time period for completing such
examination; provided, the Collateral Agents’ failure to deliver any such estimates will not relieve the Borrower of its payment obligations under this Agreement. Unless a Default or an Event of Default has occurred and is continuing (in
which case such inspections, appraisals, examinations and audits shall occur as often as the Collateral Agents shall reasonably determine is necessary and shall all be at the expense of the Borrower), Borrower shall not be obligated to reimburse the
Collateral Agents for (a) if a Streamline Period is then in effect, more than one field examination during any calendar year and more than one appraisal of the 

  
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Collateral during any calendar year, and (b) if a Streamline Period is not then in effect, more than two field examinations during any calendar year and more than two appraisals of the
Collateral during any calendar year. In the Collateral Agents’ sole discretion, the Collateral Agents may perform additional field examinations and inventory appraisals more frequently at the Lenders’ expense. The foregoing limitations
shall not operate to limit any inspection rights of the Collateral Agents or the Lenders under, or reimbursement obligations of Borrower, under Section 6.7. 

6.12 Additional Collateral, Etc. 

(a) With respect to any property (other than Excluded Assets) acquired after the Closing Date by any Loan Party (other than (x) any
property described in paragraph (b), (c) or (d) below, and (y) any property subject to a Lien expressly permitted by Section 7.3(d)) as to which the Administrative Agent, for the ratable benefit of the
Secured Parties, does not have a perfected Lien, promptly (and in any event within three (3) Business Days) (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement or such other
documents as the Administrative Agent may reasonably deem necessary or advisable to evidence that such Loan Party is a Guarantor and to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a security interest in such
property and (ii) take all actions necessary or advisable in the opinion of the Administrative Agent to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a perfected first priority (except as expressly permitted
by Section 7.3 and, with respect to priority, subject to the Intercreditor Agreement) security interest and Lien in such property, including the filing of Uniform Commercial Code financing statements in such jurisdictions as may be
required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent. 
 (b) With respect to any
fee interest in any real property either subject to a mortgage in favor of the Cash Flow Agent or having a value (together with improvements thereof) of at least $ 1,000,000 acquired after the Closing Date by any Loan Party (other than any such real
property subject to a Lien expressly permitted by Section 7.3(g)), promptly, to the extent requested by the Administrative Agent or the Required Lenders, (i) execute and deliver a second priority Mortgage, in favor of the
Administrative Agent, for the ratable benefit of the Secured Parties, covering such real property, (ii) if requested by the Administrative Agent, provide the Lenders with (x) title and extended coverage insurance covering such real
property in an amount at least equal to the purchase price of such real property (or such other amount as shall be reasonably specified by the Administrative Agent) as well as a current ALTA survey thereof, together with a surveyor’s
certificate, and (y) any consents or estoppels reasonably deemed necessary or advisable by the Administrative Agent in connection with such Mortgage, each of the foregoing in form and substance reasonably satisfactory to the Administrative
Agent, and (iii) if requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to
the Administrative Agent. In connection with the foregoing, no later than three (3) Business Days prior to the date on which a Mortgage is executed and delivered pursuant to this Section 6.12, in order to comply with the Flood Laws,
the Administrative Agent shall have received the following documents: (A) a completed standard “life of loan” flood hazard determination form, (B) if the improvement(s) to the applicable improved real property is located in a
special flood hazard area, a notification to the applicable Loan Party (“Loan Party Notice”) and (if applicable) notification to the applicable Loan Party that flood insurance coverage under the National Flood Insurance
Program (“NFIP”) is not available because the community does not participate in the NFIP, (C) documentation evidencing the applicable Loan Party’s receipt of the Loan Party Notice (e.g., countersigned Loan Party
Notice, return receipt of certified U.S. Mail, or overnight delivery), and (D) if the Loan Party Notice is required to be given and, to the extent flood insurance is required by any applicable Requirement of Law or any Lenders’ written
regulatory or compliance procedures and flood insurance is available in the community in which the property is located, a copy of one of the following: the flood insurance policy, the applicable Loan Party’s application for a flood insurance
policy plus proof of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance reasonably satisfactory to the Administrative Agent. 

  
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 (c) With respect to any new direct or indirect Subsidiary (other than an Excluded Foreign
Subsidiary) created or acquired after the Closing Date by any Loan Party (including pursuant to a Permitted Acquisition), promptly (i) execute and deliver to the Administrative Agent such amendments to the Guarantee and Collateral Agreement as
the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the ratable benefit of the Secured Parties, a perfected second priority security interest and Lien in the Capital Stock of such new Subsidiary that is
owned directly or indirectly by such Loan Party, (ii) deliver to the Administrative Agent such documents and instruments as may be reasonably required to grant, perfect, protect and ensure the priority of such security interest, including but
not limited to, the certificates representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by a duly authorized officer of the relevant Loan Party, (iii) cause such new Subsidiary (A) to become a
party to the Guarantee and Collateral Agreement, (B) to take such actions as are necessary or advisable in the opinion of the Administrative Agent to grant to the Administrative Agent for the ratable benefit of the Secured Parties a perfected
security interest (with respect to priority, subject to the Intercreditor Agreement) and Lien in the Collateral described in the Guarantee and Collateral Agreement, with respect to such Subsidiary, including the filing of Uniform Commercial Code
financing statements in such jurisdictions as may be required by the Guarantee and Collateral Agreement or by law or as may be requested by the Administrative Agent and (C) to deliver to the Administrative Agent a certificate of such
Subsidiary, in a form reasonably satisfactory to the Administrative Agent, with appropriate insertions and attachments, and (iv) if requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the
matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the Administrative Agent. 

(d) With respect to any new Excluded Foreign Subsidiary created or acquired after the Closing Date by any Loan Party, promptly
(i) execute and deliver to the Administrative Agent such pledge agreements or amendments to the Guarantee and Collateral Agreement, as the Administrative Agent deems necessary or advisable to grant to the Administrative Agent, for the ratable
benefit of the Secured Parties, a perfected second priority security interest and Lien in the Capital Stock of such new Excluded Foreign Subsidiary that is owned by any such Loan Party ( provided that in no event shall (y) more than 66%
of the total outstanding voting Capital Stock of any such new Excluded Foreign Subsidiary that is owned by such Loan Party be required to be so pledged and (z) more than 100% of the non- voting Capital Stock of any such Excluded Foreign
Subsidiary that is owned by such Loan Party be required to be pledged), (ii) deliver to the Administrative Agent the certificates representing such Capital Stock, together with undated stock powers, in blank, executed and delivered by a duly
authorized officer of the relevant Loan Party, and take such other action as may be necessary or, in the opinion of the Administrative Agent, desirable to perfect the Administrative Agent’s security interest therein, and (iii) if
reasonably requested by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from counsel, reasonably satisfactory to the
Administrative Agent. 
 (e) Each Loan Party shall use commercially reasonable efforts to obtain a landlord’s agreement or bailee
letter, as applicable, from the lessor of its headquarters location and from the lessor of or the bailee related to any other location where Collateral is stored or located, which agreement or letter, in any such case, shall contain a waiver or
subordination of all Liens or claims that the landlord or bailee may assert against the Collateral at that location, and shall otherwise be reasonably satisfactory in form and substance to the Administrative Agent. With respect to such locations or
warehouse space leased or owned as of the Closing Date and thereafter, if the Administrative Agent has not received a landlord’s agreement or bailee letter as of the Closing Date (or, if later, as of the date such location is acquired or
leased), the Eligible Inventory at that location shall, in the Collateral Agents’ discretion, be excluded from the Borrowing Base or be subject to such Reserves as may be established by the Collateral Agents in their reasonable credit 

  
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judgment. After the Closing Date, no real property or warehouse space shall be leased by any Loan Party and no Inventory shall be shipped to a processor or converter under arrangements
established after the Closing Date, without the prior written consent of the Collateral Agents (which consent, in the Collateral Agents’ discretion, may be conditioned upon the exclusion from the Borrowing Base of Inventory at that location or
the establishment of Reserves acceptable to the Collateral Agents) or unless and until a reasonably satisfactory landlord agreement or bailee letter, as appropriate, shall first have been obtained with respect to such location. Each Loan Party shall
pay and perform its material obligations under all leases and other agreements with respect to each leased location or public warehouse where any Collateral is or may be located. 

6.13 [Reserved.] 
 6.14
Insider Subordinated Indebtedness. Cause any Insider Indebtedness owing by any Loan Party to become Insider Subordinated Indebtedness (a) on or prior to the Closing Date, in respect of any such Insider Indebtedness in existence as of the
Closing Date or (b) contemporaneously with the incurrence thereof, in respect of any such Insider Indebtedness incurred at any time after the Closing Date. 

6.15 Use of Proceeds. Use the proceeds of each credit extension only for the purposes specified in Section 4.16. 

6.16 Designated Senior Indebtedness. Cause the Loan Documents and all of the Obligations to be deemed “Designated Senior
Indebtedness” or a similar concept thereto, if applicable, for purposes of any other Indebtedness of the Loan Parties. 
 6.17
Further Assurances. Execute any further instruments and take such further action as the Administrative Agent reasonably deems necessary to perfect, protect, ensure the priority of or continue the Administrative Agent’s Lien on the
Collateral or to effect the purposes of this Agreement. 
 SECTION 7 

NEGATIVE COVENANTS 
 The
Borrower hereby agrees that, at all times prior to the Discharge of Obligations, the Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly: 

7.1 Financial Condition Covenants. 

(a) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio as at the last day of any period of
four consecutive fiscal quarters of the Borrower to be less than 1.10:1.00. 
 (b) Consolidated Leverage Ratio. Permit the
Consolidated Leverage Ratio as at the last day of any period of four consecutive fiscal quarters of the Borrower ending with any fiscal quarter set forth below to exceed the ratio set forth below opposite such fiscal quarter: 

 

			
	Fiscal Quarter Ending	 	Consolidated Total Leverage Ratio
	June 30, 2014	 	3.00:1.00
	September 30, 2014	 	3.00:1.00
	December 31, 2014	 	3.00:1.00
	March 31, 2015	 	2.75:1.00
	June 30, 2015	 	2.75:1.00
	September 30, 2015	 	2.75:1.00

  
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	Fiscal Quarter Ending	 	Consolidated Total Leverage Ratio
	December 31, 2015	 	2.50:1.00
	March 31, 2016	 	2.50:1.00
	June 30, 2016	 	2.50:1.00
	September 30, 2016	 	2.50:1.00
	December 31, 2016	 	2.25:1.00
	March 31, 2017	 	2.25:1.00
	June 30, 2017	 	2.25:1.00
	September 30, 2017	 	2.25:1.00
	December 31, 2017	 	2.00:1.00
	March 31, 2018	 	2.00:1.00
	June 30, 2018	 	2.00:1.00

 (c) Minimum Liquidity. Permit Liquidity at any time to be less than $15,000,000. 

7.2 Indebtedness. Create, issue, incur, assume, become liable in respect of or suffer to exist any Indebtedness, except: 

(a) Indebtedness of any Loan Party pursuant to any Loan Document; 

(b) Indebtedness outstanding on the date hereof and listed on Schedule 7.2(b); 

(c) Indebtedness under the Cash Flow Credit Agreement so long as such Indebtedness remains subject to the Intercreditor Agreement; provided
that the aggregate amount of Indebtedness under this clause (c) does not exceed $75,000,000; 
 (d) Indebtedness with respect to
corporate credit cards, merchant services and arrangements, surety bonds and similar obligations incurred in the ordinary course of business; 

(e) Indebtedness incurred as a result of endorsing negotiable instruments received in the ordinary course of business; 

(f) Indebtedness secured by Liens permitted under Section 7.3(b) and (d); 

(g) Permitted Refinancing Indebtedness with respect to Indebtedness permitted under clauses (b) and (f) above; 

(h) Indebtedness of a Person (other than a Loan Party or one of their respective Subsidiaries which constituted a Subsidiary prior to the
consummation of the applicable merger referenced below) existing at the time such Person is merged with or into a Loan Party or a Subsidiary or becomes a Subsidiary; provided that (i) such Indebtedness was not, in any case, incurred by
such other Person in connection with, or in contemplation of, such merger or acquisition, (ii) such merger or acquisition constitutes a Permitted Acquisition, and (iii) with respect to any such Person who becomes a Subsidiary,
(A) such Subsidiary is the only obligor in respect of such Indebtedness, and (B) to the extent such Indebtedness is permitted to be secured hereunder, only the assets of such Subsidiary secure such Indebtedness; 

(i) Indebtedness in the form of purchase price adjustments, earn-outs, deferred compensation, or other arrangements representing acquisition
consideration or deferred payments of a similar nature incurred in connection with any Permitted Acquisition (and, in the case of deferred compensation representing, or in substance representing, consideration or a portion of the purchase price in
connection with 

  
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such Permitted Acquisitions) or other Investment permitted by Section 7.8 (collectively, “Deferred Payment Obligations”), the amount of which shall be deemed
to be the amount required to be accrued as a liability in accordance with GAAP; 
 (j) Indebtedness consisting of loans permitted by
Section 7.8(l) and (m); and 
 (k) Qualifying Foreign Subsidiary Indebtedness, and Guarantees thereof by the Borrower or
any Subsidiary thereof permitted by Section 7.8(n). 
 7.3 Liens. Create, incur, assume or suffer to exist any Lien upon
any of its property, whether now owned or hereafter acquired, except: 
 (a) Liens created pursuant to the Security Documents; 

(b) Liens in existence on the date hereof listed on Schedule 7.3(b); provided that (i) no such Lien is spread to cover any
additional property after the Closing Date, (ii) the amount of Indebtedness secured or benefitted thereby is not increased, (iii) the direct or any contingent obligor with respect thereto is not changed, and (iv) any renewal or
extension of the obligations secured thereby is permitted by Section 7.2(h); 
 (c) Liens for taxes, fees, assessments or other
government charges or levies, either (i) not yet delinquent or (ii) being contested in good faith and for which Borrower maintains adequate reserves on its books and, with respect to this clause (ii), which do not have priority over
the Liens created pursuant to the Security Documents, provided that no notice of any such Lien described in this clause (c) has been filed or recorded under the Code; 

(d) purchase money Liens (including Liens under capital leases) securing purchase money obligations owed to a third-party seller on Equipment
and related software acquired by the Borrower incurred for financing the acquisition of the Equipment and related software and securing no more than $10,000,000 in the aggregate amount outstanding at any time; 

(e) Liens arising from precautionary UCC financing statements filed under any lease permitted by this Agreement; 

(f) Liens of carriers, warehousemen, mechanics, landlord, suppliers, or other Persons that are possessory in nature arising in the ordinary
course of business so long as such Liens attach only to goods and which are not delinquent or remain payable without penalty or which are being contested in good faith and by appropriate proceedings which proceedings have the effect of preventing
the forfeiture or sale of the property subject thereto; 
 (g) Liens to secure payment of workers’ compensation, employment insurance,
old-age pensions, social security and other like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 

(h) Liens incurred in the extension, renewal or refinancing of the Indebtedness secured by Liens described in clauses (a) through
(c), but any extension, renewal or replacement Lien must be limited to the property encumbered by the existing Lien and the principal amount of the Indebtedness may not increase; 

(i) leases or subleases of real property granted in the ordinary course of the Borrower’s business (or, if referring to another Person,
in the ordinary course of such Person’s business), and leases, 

  
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subleases, non-exclusive licenses or sublicenses of personal property (other than Intellectual Property) granted in the ordinary course of the Borrower’s business (or, if referring to
another Person, in the ordinary course of such Person’s business), if the leases, subleases, licenses and sublicenses do not prohibit granting the Administrative Agent, on behalf of the Secured Parties, a Lien therein; 

(j) (A) non-exclusive licenses of Intellectual Property granted to third parties by the Borrower or any of its Subsidiaries in the ordinary
course of business or pursuant to the Platform Contribution License Agreement, and (B) licenses of Intellectual Property that could not result in a legal transfer of title of the licensed property that may be exclusive in respects other than
territory and that may be exclusive as to territory only as to discreet geographical areas outside of the United States; provided that any such license pursuant to this clause (j), (x) permits the use by (or license to) the
Administrative Agent of the Intellectual Property covered thereby to permit the Administrative Agent, on a royalty free basis, to possess, collect, receive, assemble, process, appropriate, remove, realize upon, sell, assign, convey, transfer or
grant options to purchase, any Collateral, and (y) does not interfere in any material respect with the ordinary conduct of business of any Group Member; 

(k) Liens arising from attachments or judgments, orders, or decrees in circumstances not constituting an Event of Default under
Section 8.1(h) or (j) of this Agreement; 
 (l) Liens in favor of other financial institutions arising in connection
with the Borrower’s deposit and/or securities accounts held at such institutions solely to the extent incurred in connection with the maintenance of such Deposit Accounts in the ordinary course of business, provided that the
Administrative Agent, on behalf of the Secured Parties, has a perfected security interest in the amounts held in such deposit and/or securities accounts pursuant to the terms of a Control Agreement; 

(m) Liens arising out of consignment or similar arrangements for the sale of goods entered into by the Borrower or any Subsidiary of the
Borrower in the ordinary course of business; 
 (n) Liens in favor of customs and revenue authorities arising as a matter of law which
secure payment of customs duties in connection with the importation of goods manufactured for Borrower or its Subsidiaries overseas in the ordinary course of business; 

(o) Liens consisting of deposits to secure real property lease obligations as a lessee incurred by the Borrower in the ordinary course of
business; 
 (p) Liens to secure payment of workers’ compensation, employment insurance, old-age pensions, social security and other
like obligations incurred in the ordinary course of business (other than Liens imposed by ERISA); 
 (q) Liens securing Indebtedness
permitted under Section 7.2(c) so long as such Liens remain subject to the Intercreditor Agreement; 
 (r) Liens on assets of
any Foreign Subsidiary which secure Indebtedness permitted under Section 7.2(k); provided that no assets or property of any Loan Party are subject to such Liens; and 

(s) other Liens securing Indebtedness not exceeding (i) $2,500,000 in the aggregate outstanding at any time prior to the occurrence of
one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating net cash proceeds of at least $100,000,000 on a cumulative basis, and (ii) $5,000,000 in the aggregate
outstanding at any time following the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating net cash proceeds of at least $100,000,000 on a cumulative
basis. 

  
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 7.4 Fundamental Changes. Enter into any merger, consolidation or amalgamation, or
liquidate, wind up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of all or substantially all of its property or business, except that: 

(a) any Subsidiary of a Loan Party may be merged or consolidated with or into a Loan Party (provided that such Loan Party shall be the
continuing or surviving Person); 
 (b) any Subsidiary of the Borrower may Dispose of any or all of its assets (i) pursuant to any
liquidation or other transaction that results in the assets of such Subsidiary being transferred to the Borrower or any other Loan Party, or (ii) pursuant to a Disposition permitted by Section 7.5; and 

(c) any Investment expressly permitted by Section 7.8 (including a Permitted Acquisition) may be structured as a merger,
consolidation or amalgamation. 
 7.5 Disposition of Property. Dispose of any of its property, whether now owned or hereafter
acquired, or, in the case of any Subsidiary of the Borrower, issue or sell any shares of such Subsidiary’s Capital Stock to any Person, except: 

(a) Dispositions of Equipment that is substantially worn, damaged, or obsolete or no longer used or useful in the ordinary course of business
of the Borrower and its Subsidiaries and leases or subleases of real property not useful in the conduct of the business of Borrower and its Subsidiaries; 

(b) sales of Inventory to buyers in the ordinary course of business; 

(c) Dispositions consisting of non-exclusive licenses of Intellectual Property permitted by Section 7.3(j); 

(d) Dispositions of assets by (i) any Subsidiary of the Borrower to the Borrower or another Loan Party and (ii) any Subsidiary of
the Borrower which is not a Loan Party to another Subsidiary of the Borrower which is not a Loan Party; 
 (e) Dispositions of property with
an aggregate value not to exceed $500,000 in any fiscal year of the Borrower; 
 (f) grants of security interests and Liens permitted by
this Agreement; 
 (g) payments permitted under Section 7.6, Investments permitted under Section 7.8, Liens
permitted under Section 7.3, payments in the ordinary course of business and other payments which payments (including those in the ordinary course of business), in each case, are not otherwise prohibited by this Agreement or any other
Loan Document; and 
 (h) Dispositions of non-core or surplus assets acquired in a Permitted Acquisition consummated within twelve
(12) months of the date of the Permitted Acquisition, so long as the consideration received for the assets to be so disposed is at least equal to the fair market value thereof; 

provided, however, that any Disposition made pursuant to this Section 7.5 shall be made in good faith
on an arm’s length basis for fair market value (as determined in good faith by the Board of Directors of the Borrower). 

  
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 7.6 Restricted Payments. Make any payment with respect to any Deferred Payment
Obligations, any payment or prepayment of principal of, premium, if any, or interest on, or redemption, purchase, retirement, defeasance (including in-substance or legal defeasance), sinking fund or similar payment with respect to, Indebtedness
permitted by Section 7.2(c) or any Subordinated Indebtedness, declare or pay any dividend (other than dividends payable solely in common Qualified Stock of the Person making such dividend) on, or make any payment or distribution on
account of, or set apart assets for a sinking or other analogous fund for, the purchase, redemption, defeasance, retirement or other acquisition of, or otherwise acquire or retire for value, any Capital Stock of any Group Member or other rights to
acquire Capital Stock of any Group Member, whether now or hereafter outstanding, or make any other distribution in respect of any Capital Stock of any Group Member, either directly or indirectly, whether in cash or property or in obligations of any
Group Member (collectively, “Restricted Payments”), except that, so long as no Default or Event of Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 

(a) any Group Member may (i) make Restricted Payments to any Borrower and (ii) declare and make dividends which are payable solely
in the common Qualified Stock of such Group Member; 
 (b) the Borrower may convert any of its convertible securities into other securities
pursuant to the terms of such convertible securities or otherwise in exchange thereof, in each case, other than any conversion into, or exchange for, Disqualified Stock; 

(c) the Borrower and its Subsidiaries may make payments in respect of Deferred Payment Obligations consisting of purchase price adjustments in
connection with a Permitted Acquisition; 
 (d) the Borrower and its Subsidiaries may make payments in respect of other Deferred Payment
Obligations so long as (i) immediately after giving effect to such payment, the Borrower and its Subsidiaries shall be in compliance with each of the covenants set forth in Section 7.1, based upon financial statements delivered to
the Administrative Agent five (5) Business Days prior to the making of such payment, calculated on a Pro Forma Basis, after giving effect to the making of such payment, and (ii) prior to and after giving effect to such payment, the Loan
Parties have Liquidity of at least $35,000,000; 
 (e) the Borrower may make prepayments of Indebtedness permitted by
Section 7.2(c) as and to the extent required under the Cash Flow Credit Agreement and permitted under the Intercreditor Agreement; provided that, any mandatory prepayments of such Indebtedness which constitute “Term
Loans” (as defined under the Cash Flow Credit Agreement) may not be made with the proceeds of any ABL Priority Collateral (as defined in the Intercreditor Agreement); 

(f) after a Qualified IPO, the Borrower may make Restricted Payments in an aggregate amount per annum not exceeding 10% of the net cash
proceeds received by the Borrower from such Qualified IPO; 
 (g) the Borrower may make Restricted Payments to redeem or repurchase in whole
or in part any of its Qualified Stock for another class of its Equity Interests or rights to acquire its Qualified Stock or with proceeds from equity contributions or issuances of new Qualified Stock; provided that (A) such Restricted
Payments are made substantially concurrently with, or no more than 60 days following, such equity contributions; (B) the net proceeds of such equity contributions or issuance of Qualified Stock do not count toward the cumulative amount
referenced in Section 7.8(k)(x) governing Permitted Acquisitions; and (C) the only consideration paid for any such redemption is Equity Interests of the Borrower or the proceeds of such equity contribution or issuance of Qualified
Stock; 

  
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 (h) the Borrower may purchase, redeem or otherwise acquire its Equity Interests for aggregate
consideration in any fiscal year not in excess of (i) $5,000,000, prior to the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating net cash
proceeds of at least $100,000,000 on a cumulative basis, and (ii) $10,000,000, following the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating
net cash proceeds of at least $100,000,000 on a cumulative basis; and 
 (i) other Restricted Payments, on a cumulative basis from and after
the Closing Date, in an aggregate amount not to exceed (i) $7,500,000, prior to the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating net cash
proceeds of at least $100,000,000 on a cumulative basis, and (ii) $15,000,000, following the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, generating
net cash proceeds of at least $100,000,000 on a cumulative basis. 
 7.7 [Reserved.] 

7.8 Investments. Make any advance, loan, extension of credit (by way of guarantee or otherwise) or capital contribution to, or purchase
any Capital Stock, bonds, notes, debentures or other debt securities of, or any assets constituting a business unit of, or make any other investment in, any Person (all of the foregoing, “Investments”), except: 

(a) Investments (including, without limitation, Subsidiaries) existing on the date hereof listed on Schedule 7.8(a) (but specifically
excluding any future Investments in any Subsidiaries unless otherwise permitted hereunder); 
 (b) (i) Investments consisting of Cash
Equivalents and (ii) any Investments permitted by the Borrower’s investment policy, if any, approved by its Board of Directors, as adopted and amended from time to time, provided that such investment policy (and any such amendment
thereto) has been approved in writing by the Collateral Agents; 
 (c) Investments consisting of the endorsement of negotiable instruments
for deposit or collection or similar transactions in the ordinary course of the Borrower; 
 (d) Investments consisting of deposit and
securities accounts in which the Administrative Agent, on behalf of the Secured Parties, has a perfected security interest to the extent required under any Loan Document; 

(e) Investments accepted in connection with Dispositions permitted by Section 7.5 of this Agreement; 

(f) (i) Investments by Subsidiaries of the Borrower that are not Loan Parties in other Subsidiaries of the Borrower or in the Borrower, and
(ii) other investments by Borrower and its Subsidiaries so long as the aggregate amount of all such Investments made in reliance on this clause (ii) in any fiscal year of Borrower does not exceed $500,000; 

(g) Investments consisting of (i) travel advances and employee relocation loans and other employee loans and advances in the ordinary
course of business and in an aggregate outstanding amount not to exceed $500,000 at any one time, and (ii) loans to employees, officers or directors relating to the purchase of equity securities of the Borrower or any of its Subsidiaries
pursuant to employee stock purchase plans or agreements approved by the Borrower’s Board of Directors so long as the proceeds of such loans are used in their entirety to purchase such Capital Stock in Borrower; 

  
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 (h) Investments (including Indebtedness obligations) received in connection with the bankruptcy
or reorganization of customers or suppliers and in settlement of delinquent obligations of, and other disputes with, customers or suppliers which settlements are effected in the ordinary course of business; 

(i) loans by the Borrower in favor of manufacturers and suppliers in an aggregate amount outstanding not to exceed $250,000 at any time; 

(j) (i) Investments constituting Permitted Acquisitions, and (ii) Investments held by any Person as of the date such Person is acquired
in connection with a Permitted Acquisition, provided that (A) such Investments were not made, in any case, by such Person in connection with, or in contemplation of, such Permitted Acquisition, and (B) with respect to any such
Person which becomes a Subsidiary as a result of such Permitted Acquisition, such Subsidiary remains the only holder of such Investment; and 

(k) purchases or other acquisitions by any Group Member of the Capital Stock in a Person that, upon the consummation thereof, will be a
Subsidiary (including as a result of a merger or consolidation) or all or substantially all of the assets of, or assets constituting one or more business units of, any Person (each, a “Permitted Acquisition”); provided
that, with respect to each such purchase or other acquisition: 
 (i) the newly-created or acquired Subsidiary (or assets acquired in
connection with an asset sale) shall be (x) in the same or a related line of business as that conducted by the Borrower on the date hereof, or (y) in a business that is ancillary to and in furtherance of the line of business as that
conducted by the Borrower on the date hereof; 
 (ii) all transactions related to such purchase or acquisition shall be consummated in all
material respects in accordance with all Requirements of Law; 
 (iii) no Loan Party shall, as a result of or in connection with any such
purchase or acquisition, assume or incur any direct or contingent liabilities (whether relating to environmental, tax, litigation or other matters) that, as of the date of such purchase or acquisition, could be expected to result in the existence or
incurrence of a Material Adverse Effect, as determined by the Board of Directors of the Borrower in good faith; 
 (iv) the Borrower shall
give the Administrative Agent at least ten (10) Business Days’ prior written notice of any such purchase or acquisition; the Borrower shall provide to the Administrative Agent as soon as available but in any event not later than five
(5) Business Days after the execution thereof, a copy of any executed purchase agreement or similar agreement with respect to any such purchase or acquisition; 

(v) any such newly-created or acquired Subsidiary, or the Loan Party that is the acquirer of assets in connection with an asset acquisition,
shall comply with the requirements of Section 6.12, except to the extent compliance with Section 6.12 is prohibited by pre-existing Contractual Obligations or Requirements of Law binding on such Subsidiary or its properties;

 (vi) (x) immediately before and immediately after giving effect to any such purchase or other acquisition, no Default or Event of
Default shall have occurred and be continuing, (y) immediately after giving effect to such purchase or other acquisition, the Borrower and its Subsidiaries shall have a Consolidated Leverage Ratio of less than 2.50:1.00 and be in compliance
with each of the covenants 

  
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set forth in Section 7.1, based upon financial statements delivered to the Administrative Agent which give effect, on a Pro Forma Basis (including with respect to Consolidated
EBITDA), to such acquisition or other purchase and (z) immediately before and immediately after giving effect to any such purchase or other acquisition, the Loan Parties shall have Liquidity in an amount equal to or greater than $35,000,000;

 (vii) the Borrower shall not, as determined by the Board of Directors of the Borrower in good faith as of the date any such acquisition
or other purchase is consummated, expect such acquisition or other purchase to result in a Default of an Event of Default under Section 8.1(c); 

(viii) no Indebtedness is assumed or incurred in connection with any such purchase or acquisition other than Indebtedness permitted by the
terms of Sections 7.2(h) and (i); 
 (ix) such purchase or acquisition shall not constitute an Unfriendly Acquisition; 

(x) prior to the occurrence of one or more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary
equity infusion, generating net cash proceeds of at least $100,000,000 on a cumulative basis, the amount of the cash consideration (including any Deferred Payment Obligations the amount of which shall be determined as set forth in
Section 7.2(i), but excluding cash proceeds of the sale of Capital Stock (other than Disqualified Stock) substantially concurrently with, or during the 30 days prior to, the consummation of such acquisition or other purchase)) paid by
the Group Members in connection with (1) each such Permitted Acquisition shall not exceed $25,000,000 and (2) all such Permitted Acquisitions consummated from and after the Closing Date shall not exceed $75,000,000 in the aggregate during
the term of this Agreement; 
 (xi) other than acquisitions the aggregate amount of cash consideration (including any Deferred Payment
Obligations) for all such acquisitions does not exceed $25,000,000, each such Permitted Acquisition is of a Person organized under the laws of the United States and engaged in business activities primarily conducted within the United States or of
assets located in the United States (other than immaterial assets); and 
 (xii) the Borrower shall have delivered to the Administrative
Agent, at least five Business Days prior to the date on which any such purchase or other acquisition is to be consummated (or such later date as is agreed by the Administrative Agent in its sole discretion), a certificate of a Responsible Officer of
the Borrower, in form and substance reasonably satisfactory to the Administrative Agent, certifying that all of the requirements set forth in this definition have been satisfied or will be satisfied on or prior to the consummation of such purchase
or other acquisition; 
 (l) Investments in Foreign Subsidiaries to the extent that the proceeds thereof are paid (by such Foreign
Subsidiary or by another Subsidiary to or in whom such Foreign Subsidiary lends or invests such proceeds ) to a Loan Party to license Intellectual Property of the Borrower or one or more Subsidiaries thereof, or to otherwise pay consideration or
royalties to a Loan Party for rights to such Intellectual Property, in connection with transactions permitted by Section 7.3(j) (including payments pursuant to the Platform Contribution License Agreement); 

(m) Investments in Foreign Subsidiaries to fund the establishment of, or expansion of, operations, or to fund working capital, in foreign
jurisdictions in an amount outstanding at any time (net of repayments or returns thereof or thereon) not to exceed (1) $25,000,000, prior to the occurrence of one or more equity offerings after the Closing Date, including without limitation a
Qualified IPO or primary equity infusion, generating net cash proceeds of at least $100,000,000 on a cumulative basis, and (2) the greater of (i) $35,000,000 and (ii) 10% of Consolidated Total Assets, following the occurrence of one or
more equity offerings after the Closing Date, including without limitation a Qualified IPO or primary equity infusion, 

  
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generating net cash proceeds of at least $100,000,000 on a cumulative basis; provided that at any time prior to the payment in full of all amounts due to the Borrower pursuant to the
Platform Contribution License Agreement, the aggregate amount of cash and Cash Equivalents held by such Foreign Subsidiaries shall not exceed $10,000,000 for any period of 10 consecutive Business Days; and 

(n) Guarantees of Qualifying Foreign Subsidiary Indebtedness by the Borrower or any of its Subsidiaries; provided that any such
Guarantee provided by the Borrower or any other Loan Party is unsecured and subordinated to the Obligations on terms and conditions reasonably satisfactory to the Collateral Agents. 

7.9 ERISA. The Borrower shall not, and shall not permit any of its ERISA Affiliates to: (a) terminate any Pension Plan so as to result
in any material liability to such Person or any of such Person’s ERISA Affiliates, (b) permit to exist any ERISA Event, or any other event or condition, which presents the risk of a material liability to any of their respective ERISA
Affiliates, (c) make a complete or partial withdrawal (within the meaning of ERISA Section 4201) from any Multiemployer Plan so as to result in any material liability to such Person or any of their respective ERISA Affiliates,
(d) enter into any new Pension Plan or modify any existing Pension Plan so as to increase its obligations thereunder which could result in any material liability to any such Person or any of its respective ERISA Affiliates, (e) permit the
present value of all nonforfeitable accrued benefits under any Pension Plan (using the actuarial assumptions utilized by the PBGC upon termination of a Pension Plan) materially to exceed the fair market value of Pension Plan assets allocable to such
benefits, all determined as of the most recent valuation date for each such Pension Plan, or (f) engage in any transaction which would cause any obligation, or action taken or to be taken, hereunder (or the exercise by the Administrative Agent or
any Lender of any of its rights under this Agreement, any Note or the other Loan Documents) to be a non-exempt (under a statutory or administrative class exemption) prohibited transaction under ERISA or Section 4975 of the Code. 

7.10 Optional Payments and Modifications of Preferred Stock and Debt Instruments. (a) Amend, modify, waive or otherwise change, or
consent or agree to any amendment, modification, waiver or other change to, any of the terms of the Preferred Stock, if any, (i) that would move to an earlier date the scheduled redemption date or increase the amount of any scheduled redemption
payment or increase the rate or move to an earlier date any date for payment of dividends thereon or (ii) that would be otherwise materially adverse to any Lender or any other Secured Party; or (b) amend, modify, waive or otherwise change,
or consent or agree to any amendment, modification, waiver or other change to, (i) any of the terms of any Indebtedness permitted by Section 7.2 (other than Indebtedness pursuant to any Loan Document or permitted by
Section 7.2(c)) that would shorten the maturity or increase the amount of any payment of principal thereof or the rate of interest thereon or shorten any date for payment of interest thereon or that would be otherwise materially adverse
to any Lender or any other Secured Party or that would violate any subordination terms or any subordination agreement applicable thereto, and (ii) any of the terms of Indebtedness permitted by Section 7.2(c) other than to the extent
permitted by the Intercreditor Agreement. 
 7.11 Transactions with Affiliates. Enter into any transaction, including any purchase,
sale, lease or exchange of property, the rendering of any service or the payment of any management, advisory or similar fees, with any Affiliate (other than any other Loan Party) except for any transaction (other than the payment of management,
consulting, monitoring, advisory or similar fees) that (i) is otherwise permitted under this Agreement, (ii) is in the ordinary course of business of the relevant Group Member (or is permitted by Section 7.8(l) or
(m) or, in connection with the Platform Contribution License Agreement, Section 7.3(j)), (iii) is upon fair and reasonable terms no less favorable to the relevant Group Member than it would obtain in a comparable
arm’s length transaction with a Person that is not an Affiliate (e.g., cost-plus service agreements in the ordinary course of business between Affiliates), (iv) both before and after giving pro forma effect to such transaction, no
Default or Event of Default has occurred and is continuing or would result therefrom, and (v) so long as such transactions are fully disclosed to the Collateral Agents prior to the consummation thereof if they involve one or more payments by the
Loan Parties in excess of $1,000,000 for any single transaction or series of related transactions. 

  
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 7.12 Sale Leaseback Transactions. Enter into any Sale Leaseback Transaction unless
(a) the Disposition of the applicable property subject to such Sale Leaseback Transaction is permitted under Section 7.5, and (b) any Liens in the property of any Loan Party incurred in connection with any such Sale Leaseback
Transaction are permitted under Section 7.3. 
 7.13 Swap Agreements. Enter into any Swap Agreement, except
(a) Specified Swap Agreements or (b) other unsecured Swap Agreements, in each case, which are entered into by a Group Member to (i) hedge or mitigate risks to which such Group Member has actual exposure (other than those in respect of
Capital Stock), or (ii) effectively cap, collar or exchange interest rates (from fixed to floating rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of such Group
Member. 
 7.14 Accounting Changes. Make any change in its (a) accounting policies or reporting practices, except as required by
GAAP, or (b) fiscal year. 
 7.15 Negative Pledge Clauses. Enter into or suffer to exist or become effective any agreement that
prohibits or limits the ability of any Loan Party to create, incur, assume or suffer to exist any Lien upon any of its property or revenues, whether now owned or hereafter acquired, to secure its Obligations under the Loan Documents to which it is a
party, other than (a) this Agreement and the other Loan Documents, (b) any agreements governing any purchase money Liens or Capital Lease Obligations otherwise permitted hereby (in which case, any prohibition or limitation shall only be
effective against the assets financed thereby), and (c) customary restrictions on the assignment of leases, licenses and other agreements. 

7.16 Clauses Restricting Subsidiary Distributions. Enter into or suffer to exist or become effective any consensual encumbrance or
restriction on the ability of any Loan Party and any of their respective Subsidiaries to (a) make Restricted Payments in respect of any Capital Stock of such Subsidiary held by, or to pay any Indebtedness owed to, any other Group Member or
(b) make loans or advances to, or other Investments in, any other Group Member, or (c) transfer any of its assets to any other Group Member, except for such encumbrances or restrictions existing under or by reason of (i) any
restrictions existing under the Loan Documents, (ii) any restrictions with respect to a Subsidiary imposed pursuant to an agreement that has been entered into in connection with a Disposition permitted hereby of all or substantially all of the
Capital Stock or assets of such Subsidiary, (iii) customary restrictions on the assignment of leases, licenses and other agreements, or (iv) restrictions of the nature referred to in clause (c) above under agreements governing
purchase money liens or Capital Lease Obligations otherwise permitted hereby which restrictions are only effective against the assets financed thereby. 

7.17 Lines of Business. Enter into any business, either directly or through any Subsidiary, except for those businesses in which the
Borrower and its Subsidiaries are engaged on the date of this Agreement or that are reasonably related, ancillary or incidental thereto. 

7.18 Designation of other Indebtedness. Designate any Indebtedness or indebtedness other than the Obligations as “Designated
Senior Indebtedness” or a similar concept thereto, if applicable. 
 7.19 Certification of Certain Equity Interests. Take any
action to certificate any Equity Interests having been pledged to the Administrative Agent (for the ratable benefit of the Secured Parties) which were uncertificated at the time so pledged, in any such case, without first obtaining the
Administrative Agent’s prior written consent to do so and undertaking to the reasonable satisfaction of the Administrative Agent all such actions as may reasonably be requested by the Administrative Agent to continue the perfection of its Liens
(held for the ratable benefit of the Secured Parties) in any such newly certificated Equity Interests. 

  
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 7.20 Amendments to Organizational Agreements and Material Contracts. (a) Amend or
permit any amendments to any Loan Party’s organizational documents if any such amendment would be adverse to the Administrative Agent or the Lenders in any material respect; or (b) amend or permit any amendments to, or terminate or waive
any provision of, any material Contractual Obligation if such amendment, termination, or waiver would be adverse to the Administrative Agent or the Lenders in any material respect. 

7.21 Use of Proceeds. Use the proceeds of any extension of credit hereunder, whether directly or indirectly, and whether immediately,
incidentally or ultimately, to (a) purchase or carry margin stock (within the meaning of Regulation U) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such
purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, Regulation U or Regulation X or (b) finance an Unfriendly Acquisition. 

7.22 Subordinated Debt. 

(a) Amendments. Amend, modify, supplement, waive compliance with, or consent to noncompliance with, any Subordinated Debt Document,
unless the amendment, modification, supplement, waiver or consent (i) does not adversely affect the Loan Parties’ ability to pay and perform each of their respective Obligations at the time and in the manner set forth herein and in the
other Loan Documents and is not otherwise adverse to the Administrative Agent and the Lenders, and (ii) is in compliance with the subordination provisions therein and any subordination agreement with respect thereto in favor of the
Administrative Agent and the Lenders. 
 (b) Payments. Make any voluntary or optional payment, prepayment or repayment on,
redemption, exchange or acquisition for value of, or any sinking fund or similar payment with respect to, any Subordinated Indebtedness, except as permitted by the subordination provisions in the applicable Subordinated Debt Documents and any
subordination agreement with respect thereto in favor of the Administrative Agent and the Lenders. 
 7.23 [Reserved.] 

7.24 Anti-Terrorism Laws; OFAC; Anti-Corruption.  

(a) Conduct, deal in or engage in or permit any Affiliate or agent of the Borrower within its control to conduct, deal in or engage in any of
the following activities: (a) conduct any business or engage in any transaction or dealing with any person blocked pursuant to Executive Order No. 13224 (“Blocked Person”), including the making or
receiving any contribution of funds, goods or services to or for the benefit of any Blocked Person; (b) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order
No. 13224; or (c) engage in on conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or the
Patriot Act. The Borrower shall deliver to the Administrative Agent and the Lenders any certification or other evidence reasonably requested from time to time by the Administrative Agent or any Lender confirming the Borrower’s compliance with
this Section 7.24. 

  
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 (b) Use the proceeds of any Loan made hereunder to fund any operations in, finance any
investments or activities in, or make any payments to, a Sanctioned Person or a Sanctioned Entity or in any other manner that will result in any violation or breach by any Person of OFAC. 

(c) Use any part of the proceeds of any Loan, directly or indirectly, for any payment to any governmental official or employee, political
party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt
Practices Act of 1977, as amended. 
 7.25 Certain Deposit Accounts. Maintain cash, Cash Equivalents, or other amounts, in each case,
that are credited to foreign deposit accounts or foreign securities accounts (or, as to any Subsidiary that is not a Loan Party, maintain cash or Cash Equivalents or any amounts credited to any deposit accounts or securities accounts), taken as a
whole, in an aggregate amount in excess of the amount specified in the proviso in Section 7.8(m). 
 SECTION 8 

EVENTS OF DEFAULT 
 8.1
Events of Default. The occurrence of any of the following shall constitute an Event of Default: 
 (a) the Borrower shall fail to pay:

 (i) any amount of principal of any Loan when due in accordance with the terms hereof (including Section 2.8); or 

(ii) the Borrower shall fail to pay any amount of interest on any Loan, or any other amount payable hereunder or under any other Loan
Document (other than principal of any Loan as provided in clause (i) above), within three (3) Business Days after any such interest or other amount becomes due in accordance with the terms hereof; or 

(b) any representation or warranty made or deemed made by any Loan Party herein or in any other Loan Document or that is contained in any
certificate, document or financial or other statement furnished by it at any time under or in connection with this Agreement or any such other Loan Document (i) if qualified by materiality, shall be incorrect or misleading when made or deemed
made, or (ii) if not qualified by materiality, shall be incorrect or misleading in any material respect when made or deemed made; or 

(c) (i) any Loan Party shall default in the observance or performance of any agreement contained in Section 2.8,
Section 5.3, Section 6.1, Section 6.2, Section 6.3(c), clause (i) or (ii) of Section 6.5(a), Section 6.6(b), Section 6.7,
Section 6.8, Section 6.10, Section 6.11, Section 6.12, Section 6.16 or Section 7 of this Agreement or (ii) an “Event of Default” under and as defined in any
Security Document shall have occurred and be continuing; or 
 (d) any Loan Party shall default in the observance or performance of any
other agreement contained in this Agreement or any other Loan Document to which it is party (other than as provided in paragraphs (a) through (c) of this Section), and such default shall continue unremedied for a period of 30
days thereafter; or 
 (e) (1) any Group Member shall (i) default in making any payment of any principal of any Indebtedness (including
any Guarantee Obligation, but excluding the Loans) on the scheduled or original due date with respect thereto; or (ii) default in making any payment of any interest, fees, costs or expenses on 

  
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any such Indebtedness beyond the period of grace, if any, provided in the instrument or agreement under which such Indebtedness was created; (iii) default in making any payment or delivery
under any such Indebtedness constituting a Swap Agreement beyond the period of grace, if any, provided in such Swap Agreement; or (iv) default in the observance or performance of any other agreement or condition relating to any such
Indebtedness or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event shall occur or condition exist, the effect of which default or other event or condition is to (x) cause, or to permit the holder or
beneficiary of, or, in the case of any such Indebtedness constituting a Swap Agreement, counterparty under, such Indebtedness (or a trustee or agent on behalf of such holder, beneficiary, or counterparty) to cause, with the giving of notice if
required, such Indebtedness to become due prior to its stated maturity or (in the case of any such Indebtedness constituting a Guarantee Obligation) to become payable or (in the case of any such Indebtedness constituting a Swap Agreement) to be
terminated, or (y) to cause, with the giving of notice if required, any Group Member to purchase or redeem or make an offer to purchase or redeem such Indebtedness prior to its stated maturity; provided that, unless such Indebtedness constitutes a
Specified Swap Agreement, a default, event or condition described in clause (i), (ii), (iii), or (iv) of this paragraph (e) shall not at any time constitute an Event of Default unless, at such time, one
or more defaults, events or conditions of the type described in clauses (i), (ii), (iii), and (iv) of this paragraph (e) shall have occurred with respect to Indebtedness the outstanding principal amount
(and, in the case of Swap Agreements, other than Specified Swap Agreements, the Swap Termination Value) of which, individually or in the aggregate of all such Indebtedness, exceeds in the aggregate $100,000; or (2) any default or event of
default (however designated) shall occur with respect to any Subordinated Indebtedness of any Group Member; or 
 (f) (i) any Group Member
shall commence any case, proceeding or other action (a) under any Debtor Relief Law seeking to have an order for relief entered with respect to it, or seeking to adjudicate it a bankrupt or insolvent, or seeking reorganization, arrangement,
adjustment, winding-up, liquidation, dissolution, composition or other relief with respect to it or its debts, or (b) seeking appointment of a receiver, trustee, custodian, conservator, judicial manager or other similar official for it or for
all or any substantial part of its assets, or any Group Member shall make a general assignment for the benefit of its creditors; or (ii) there shall be commenced against any Group Member any case, proceeding or other action of a nature referred
to in clause (i) above that (a) results in the entry of an order for relief or any such adjudication or appointment, or (b) remains undismissed, undischarged or unbonded for a period of 45 days (provided that, during
such 45-day period, no Loans shall be advanced or Letters of Credit issued hereunder); or (iii) there shall be commenced against any Group Member any case, proceeding or other action seeking issuance of a warrant of attachment, execution,
distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged, or stayed or bonded pending appeal within 45 days from the entry
thereof (provided that, during such 45- day period, no Loans shall be advanced or Letters of Credit issued hereunder); or (iv) any Group Member shall take any action in furtherance of, or indicating its consent to, approval of, or
acquiescence in, any of the acts set forth in clause (i), (ii), or (iii) above; or (v) any Group Member shall generally not, or shall be unable to, or shall admit in writing its inability to, pay its debts as they
become due; or 
 (g) There shall occur one or more ERISA Events which individually or in the aggregate results in or otherwise is
associated with liability of any Loan Party or any ERISA Affiliate thereof in excess of $100,000 during the term of this Agreement; or there exists an amount of unfunded benefit liabilities (as defined in Section 4001(a)(18) of ERISA),
individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities) which exceeds $100,000; or 

(h) There is entered against any Group Member (i) one or more judgments or orders for the payment of money or fines or penalties issued
by any Governmental Authority involving in the aggregate a liability (not paid or fully covered by insurance as to which the relevant insurance company has 

  
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acknowledged coverage) of $500,000 or more, or (ii) one or more non-monetary judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material
Adverse Effect and, in either case (i) or (ii), (A) enforcement proceedings are commenced by any creditor or any such Governmental Authority, as applicable, upon such judgment, order, penalty or fine, as applicable, or (B) such
judgment, order, penalty or fine, as applicable, shall not have been vacated, discharged, stayed or bonded, as applicable, pending appeal within 10 Business Days from the entry or issuance thereof; or 

(i) any of the Security Documents shall cease, for any reason other than as the result of action or omission by any Agent or any Lender, to be
in full force and effect (other than pursuant to the terms thereof), or any Loan Party shall so assert, or any Lien created by any of the Security Documents shall cease to be enforceable and of the same effect and priority purported to be created
thereby; or 
 (j) there shall be commenced against any Loan Party any case, proceeding or other action seeking issuance of a warrant of
attachment, execution, distraint or similar process against all or any substantial part of its assets that results in the entry of an order for any such relief that shall not have been vacated, discharged or stayed or bonded pending appeal within 10
days from the entry thereof; or 
 (k) any court order enjoins, restrains or prevents a Loan Party from conducting all or any material part
of its business; or 
 (l) the guarantee contained in Section 2 of the Guarantee and Collateral Agreement shall cease, for any
reason other than as the result of action or omission by any Agent or any Lender, to be in full force and effect or any Loan Party shall so assert; or 

(m) a Change of Control shall occur; or 

(n) [reserved]; or 
 (o) any of
the Governmental Approvals shall have been (i) revoked, rescinded, suspended, modified in an adverse manner or not renewed in the ordinary course for a full term or (ii) subject to any decision by a Governmental Authority that designates a
hearing with respect to any applications for renewal of any of the Governmental Approvals or that could reasonably be expected to result in the Governmental Authority taking any of the actions described in clause (i) above, and such
decision or such revocation, rescission, suspension, modification or nonrenewal (A) has, or could reasonably be expected to have, a Material Adverse Effect, or (B) materially adversely affects the legal qualifications of any Group Member
to hold any material Governmental Approval in any applicable jurisdiction and such revocation, rescission, suspension, modification or nonrenewal could reasonably be expected to materially adversely affect the status of or legal qualifications of
any Group Member to hold any material Governmental Approval in any other jurisdiction; or 
 (p) Any Loan Document not otherwise referenced
in Section 8.1(i) or (j), at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or the Discharge of Obligations, ceases to be in full force and effect; or any
Loan Party or any other Person contests in any manner the validity or enforceability of any Loan Document; or any Loan Party denies that it has any or any further liability or obligation under any Loan Document to which it is a party, or purports to
revoke, terminate or rescind any such Loan Document; or 
 (q) a Material Adverse Effect shall occur; or 

(r) any “Default”, “Event of Default”, or similar concept thereto (if applicable), under any Subordinated Indebtedness
shall have occurred. 

  
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 8.2 Remedies upon Event of Default. If any Event of Default occurs and is continuing, the
Administrative Agent shall, at the request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 

(a) if such event is an Event of Default specified in clause (i) or (ii) of paragraph (f) of
Section 8.1 with respect to the Borrower, the Revolving Commitments shall immediately terminate automatically and the Loans (with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents
shall automatically immediately become due and payable, and 
 (b) if such event is any other Event of Default, any of the following actions
may be taken: (i) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders (or SunTrust, in its capacity as a Collateral Agent, as provided in Section 9.13), the
Administrative Agent shall, by notice to the Borrower declare the Revolving Commitments, the Swingline Commitments and the L/C Commitments to be terminated forthwith, whereupon the Revolving Commitments, the Swingline Commitments and the L/C
Commitments shall immediately terminate; (ii) with the consent of the Required Lenders, the Administrative Agent may, or upon the request of the Required Lenders, the Administrative Agent shall, by notice to the Borrower, declare the Loans
(with accrued interest thereon) and all other amounts owing under this Agreement and the other Loan Documents to be due and payable forthwith, whereupon the same shall immediately become due and payable; (iii) any Bank Services Provider or any
other Qualified Counterparty, as applicable, may terminate any Specified Swap Agreement, any foreign exchange service agreements, or any other Bank Services Agreement then outstanding; and (iv) exercise on behalf of itself, the Lenders and the
Issuing Lender all rights and remedies available to it, the Lenders and the Issuing Lender under the Loan Documents, at law, or in equity. With respect to all Letters of Credit with respect to which presentment for honor shall not have occurred at
the time of an acceleration pursuant to this paragraph, the Borrower shall Cash Collateralize an amount equal to 105% of the aggregate then undrawn and unexpired amount of such Letters of Credit. Amounts so Cash Collateralized shall be applied by
the Administrative Agent to the payment of drafts drawn under such Letters of Credit, and the unused portion thereof after all such Letters of Credit shall have expired or been fully drawn upon, if any, shall be applied to repay other Obligations of
the Borrower hereunder and under the other Loan Documents in accordance with Section 8.3. In addition, (x) the Borrower shall also Cash Collateralize the full amount of any Swingline Loans then outstanding, and (y) to the
extent elected by Bank Services Provider or provider of any Specified Swap Agreement, the Borrower shall also Cash Collateralize the amount of any Obligations in respect of Bank Services then outstanding. After all such Letters of Credit and Bank
Services Agreements shall have been terminated, expired or fully drawn upon, as applicable, and all amounts drawn under any such Letters of Credit shall have been reimbursed in full and all other Obligations of the Borrower and the other Loan
Parties (including any such Obligations arising in connection with Bank Services) shall have been paid in full, the balance, if any, of the funds having been so Cash Collateralized, if any, shall be applied to repay other Obligations of the Borrower
hereunder and under the other Loan Documents in accordance with Section 8.3. Except as expressly provided above in this Section, presentment, demand, protest and all other notices of any kind are hereby expressly waived by the Borrower.

 8.3 Application of Funds. After the occurrence of an Application Event or the exercise of remedies provided for in
Section 8.2, any amounts received by the Administrative Agent on account of the Obligations (whether payments or proceeds of Collateral) shall be applied by the Administrative Agent in the following order: 

First, to the payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other than
principal and interest but including any Collateral-Related Expenses, fees, charges and disbursements of counsel to any Agent and amounts payable under Sections 2.19, 2.20 and 2.21) payable to any Agent in its capacity as such
(including interest thereon); 

  
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 Second, to payment of that portion of the Obligations constituting fees, indemnities and
other amounts (other than principal, interest and Letter of Credit Fees) payable to the Lenders or the Issuing Lender (including any Letter of Credit Fronting Fees, Issuing Lender Fees and the reasonable fees, charges and disbursements of counsel to
the respective Lenders and the Issuing Lender and amounts payable under Sections 2.19, 2.20 and 2.21), in each case, ratably among them in proportion to the respective amounts described in this clause Second payable to
them; 
 Third, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit Fees and interest on
the Loans and L/C Disbursements which have not yet been converted into Revolving Loans, in each case, ratably among the Lenders and the Issuing Lender, in each case, ratably among them in proportion to the respective amounts described in this clause
Third payable to them; 
 Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans and
L/C Disbursements which have not yet been converted into Revolving Loans, in each case, ratably among the Lenders and the Issuing Lender, in each case, ratably among them in proportion to the respective amounts described in this clause Fourth
held by them; 
 Fifth, to the Administrative Agent for the account of the Issuing Lender, to Cash Collateralize that portion of the
L/C Exposure comprised of the aggregate undrawn amount of Letters of Credit pursuant to Section 3.10; 
 Sixth, to the
Administrative Agent for the account of each Bank Services Provider, to Cash Collateralize then-outstanding Obligations arising in connection with Bank Services; 

Seventh, to the payment of all other Obligations of the Loan Parties that are then due and payable to the Administrative Agent and the
other Secured Parties on such date, in each case, ratably among them in proportion to the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured Parties on such date; 

Eighth, for the account of any applicable Qualified Counterparty, to Cash Collateralize Obligations arising under any then outstanding
Specified Swap Agreements, in each case, ratably among them in proportion to the respective amounts described in this clause Eighth payable to them; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full (excluding, for this purpose, any
Obligations which have been Cash Collateralized in accordance with the terms hereof), to the Borrower or as otherwise required by Law. 

Subject to Sections 2.24(a), 3.4, 3.5 and 3.10, amounts used to Cash Collateralize the aggregate undrawn amount of
Letters of Credit pursuant to clause Fifth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as Cash Collateral (whether for Letters of Credit after all Letters of Credit
have either been fully drawn or expired, or for Obligations in respect of any Bank Services after all such Bank Services have been terminated, or for Obligations in respect of any Specified Swap Agreements after all such agreements have been
terminated), such remaining amount shall be applied to the other Obligations, if any, in the order set forth above, and, if any amount then remains on deposit, it shall be promptly distributed to the Borrower. 

  
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 SECTION 9 

THE AGENTS 
 9.1
Appointment and Authority. 
 (a) Each of the Lenders hereby irrevocably appoints SVB to act on its behalf as the Administrative Agent
hereunder and under the other Loan Documents and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such
actions and powers as are reasonably incidental thereto. 
 (b) The provisions of Section 9 are solely for the benefit of the
Agents, the Lenders and the Issuing Lender, and neither the Borrower nor any other Loan Party shall have rights as a third party beneficiary of any of such provisions. Notwithstanding any provision to the contrary elsewhere in this Agreement, no
Agent shall have any duties or responsibilities to any Lender or any other Person, except those expressly set forth herein, or any fiduciary relationship with any Lender, and no implied covenants, functions, responsibilities, duties, obligations or
liabilities shall be read into this Agreement or any other Loan Document or otherwise exist against any Agent. It is understood and agreed that the use of the term “agent” herein or in any other Loan Documents (or any other similar term)
with reference to the Administrative Agent or any other Agent is not intended to connote any fiduciary or other implied (or express) obligations arising under agency doctrine of any applicable law. Instead such term is used as a matter of market
custom, and is intended to create or reflect only an administrative relationship between contracting parties. 
 (c) The Administrative
Agent shall also act as the collateral agent under the Loan Documents, and each Collateral Agent, the Issuing Lender and each of the other Lenders (in their respective capacities as a Lender and, as applicable, Qualified Counterparty or Bank
Services Provider) hereby irrevocably (i) authorize the Administrative Agent to enter into all other Loan Documents, as applicable, including the Guarantee and Collateral Agreement, any subordination agreements and any other Security Documents,
and (ii) appoint and authorize the Administrative Agent to act as the agent of the Secured Parties for purposes of acquiring, holding and enforcing any and all Liens on Collateral granted by any of the Loan Parties to secure any of the
Obligations, together with such powers and discretion as are reasonably incidental thereto. The Administrative Agent, as collateral agent and any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent pursuant to
Section 9.2 for purposes of holding or enforcing any Lien on the Collateral (or any portion thereof) granted under the Security Documents, or for exercising any rights and remedies thereunder at the direction of the Administrative
Agent), shall be entitled to the benefits of all provisions of this Section 9 and Section 10 (including Section 9.7, as though such co-agents, sub-agents and attorneys-in-fact were the collateral agent under the
Loan Documents) as if set forth in full herein with respect thereto. Without limiting the generality of the foregoing, the Administrative Agent is further authorized on behalf of all the Lenders, without the necessity of any notice to or further
consent from the Lenders, from time to time to take any action, or permit the any co-agents, sub-agents and attorneys-in-fact appointed by the Administrative Agent to take any action, with respect to any Collateral or the Loan Documents which may be
necessary to perfect and maintain perfected the Liens upon any Collateral granted pursuant to any Loan Document. 
 9.2 Delegation of
Duties. Each Agent may perform any and all of its duties and exercise its rights and powers hereunder or under any other Loan Document by or through any one or more sub-agents appointed by such Agent. Each Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Section shall apply to any such sub-agent and to the Related Parties of the Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the Facilities provided for herein as well as activities as an Agent. No Agent shall be responsible for the negligence or misconduct of any sub-agents
except to the extent that a court of competent jurisdiction determines in a final and nonappealable judgment that such Agent acted with gross negligence or willful misconduct in the selection of such sub agents. 

  
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 9.3 Exculpatory Provisions. The Agents shall have no duties or obligations except those
expressly set forth herein and in the other Loan Documents, and its duties hereunder and thereunder shall be administrative in nature. Without limiting the generality of the foregoing, the Agents shall not: 

(a) be subject to any fiduciary or other implied duties, regardless of whether any Default or any Event of Default has occurred and is
continuing; 
 (b) have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and
powers expressly contemplated hereby or by the other Loan Documents that any Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided for herein or
in the other Loan Documents), as applicable; provided that no Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose it to liability or that is contrary to any Loan Document or applicable
law, including for the avoidance of doubt any action that may be in violation of the automatic stay under any Debtor Relief Law or that may effect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any
Debtor Relief Law; and 
 (c) except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and the
Agents shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by any Person serving as an Agent or any of its Affiliates in any capacity. 

The Agents shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or
such other number or percentage of the Lenders as shall be necessary, or as any such Agent shall believe in good faith shall be necessary, under the circumstances as provided in Sections 8.2 and 10.1), or (ii) in the absence of
its own gross negligence or willful misconduct as determined by a court of competent jurisdiction by final and nonappealable judgment. 

The Agents shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made
in or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default or Event of Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any
other Loan Document or any other agreement, instrument or document or (v) the satisfaction of any condition set forth in Section 5.1, Section 5.2 or elsewhere herein, other than to confirm receipt of items expressly
required to be delivered to such Agent. 
 9.4 Reliance by Agents. Each Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, internet or intranet website posting or other distribution) believed by it to be genuine and
to have been signed, sent or otherwise authenticated by the proper Person. Each Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any liability for
relying thereon. In determining compliance with any condition hereunder to the making of a Loan, or the issuance, extension, renewal or increase of a Letter of Credit, that by its terms must be fulfilled to the satisfaction of a Lender, each Agent
may presume that such condition is satisfactory to such Lender unless such Agent shall have received notice to the contrary from such Lender prior to the making of such Loan or the issuance of such Letter of Credit. The Agents may

  
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consult with legal counsel (who may be counsel for any of the Loan Parties), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by
it in accordance with the advice of any such counsel, accountants or experts. Each Agent may deem and treat the payee of any Note as the owner thereof for all purposes unless a written notice of assignment, negotiation or transfer thereof shall have
been filed with such Agent. Each Agent shall be fully justified in failing or refusing to take any action under this Agreement or any other Loan Document unless it shall first receive such advice or concurrence of the Required Lenders (or such other
number or percentage of Lenders as shall be provided for herein or in the other Loan Documents) as it deems appropriate or it shall first be indemnified to its satisfaction by the Lenders against any and all liability and expense that may be
incurred by it by reason of taking or continuing to take any such action. Each Agent shall in all cases be fully protected in acting, or in refraining from acting, under this Agreement and the other Loan Documents in accordance with a request of the
Required Lenders (or such other number or percentage of Lenders as shall be provided for herein or in the other Loan Documents), and such request and any action taken or failure to act pursuant thereto shall be binding upon the Lenders and all
future holders of the Loans. 
 9.5 Notice of Default. The Administrative Agent shall not be deemed to have knowledge or notice of
the occurrence of any Default or Event of Default unless the Administrative Agent has received notice in writing from a Lender or the Borrower referring to this Agreement, describing such Default or Event of Default and stating that such notice is a
“notice of default.” In the event that the Administrative Agent receives such a notice, the Administrative Agent shall give notice thereof to the Lenders. The Administrative Agent shall take such action with respect to such
Default or Event of Default as shall be reasonably directed by the Required Lenders (or, if so specified by this Agreement, all Lenders); provided that unless and until the Administrative Agent shall have received such directions, the
Administrative Agent may (but shall not be obligated to) take such action or refrain from taking such action with respect to such Default or Event of Default as it shall deem advisable in the best interests of the Lenders. 

9.6 Non-Reliance on Agents and Other Lenders. Each Lender expressly acknowledges that no Agent nor any of its officers, directors,
employees, agents, attorneys in fact or affiliates has made any representations or warranties to it and that no act by any Agent hereafter taken, including any review of the affairs of a Group Member or any affiliate of a Group Member, shall be
deemed to constitute any representation or warranty by any Agent to any Lender. Each Lender represents to the Agents that it has, independently and without reliance upon any Agent or any other Lender or any of their Related Parties, and based on
such documents and information as it has deemed appropriate, made its own appraisal of and investigation into the business, operations, property, financial and other condition and creditworthiness of the Group Members and their affiliates and made
its own credit analysis and decision to make its Loans hereunder and enter into this Agreement. Each Lender also agrees that it will, independently and without reliance upon any Agent or any other Lender or any of their Related Parties, and based on
such documents and information as it shall deem appropriate at the time, continue to make its own credit analysis, appraisals and decisions in taking or not taking action under or based upon this Agreement, the other Loan Documents or any related
agreement or any document furnished hereunder or thereunder, and to make such investigation as it deems necessary to inform itself as to the business, operations, property, financial and other condition and creditworthiness of the Group Members and
their affiliates. Except for notices, reports and other documents expressly required to be furnished to the Lenders by any Agent hereunder, no Agent shall have any duty or responsibility to provide any Lender with any credit or other information
concerning the business, operations, property, condition (financial or otherwise), prospects or creditworthiness of any Group Member or any Affiliate of a Group Member that may come into the possession of any Agent or any of its officers, directors,
employees, agents, attorneys in fact or affiliates. 
 9.7 Indemnification. Each of the Lenders agrees to indemnify each of the
Agents, the Issuing Lender and the Swingline Lender and each of its Related Parties in its capacity as such (to the extent not reimbursed by the Borrower or any other Loan Party pursuant to any Loan Document and without limiting the

  
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obligation of the Borrower or any other Loan Party to do so) according to its Aggregate Exposure Percentage in effect on the date on which indemnification is sought under this
Section 9.7 (or, if indemnification is sought after the date upon which the Revolving Commitments shall have terminated and the Loans shall have been paid in full, in accordance with its Aggregate Exposure Percentage immediately prior to
such date), from and against any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind whatsoever that may at any time (whether before or after the payment of the Loans)
be imposed on, incurred by or asserted against any Agent or such other Person in any way relating to or arising out of, the Revolving Commitments, this Agreement, any of the other Loan Documents or any documents contemplated by or referred to herein
or therein or the transactions contemplated hereby or thereby or any action taken or omitted by any Agent or such other Person under or in connection with any of the foregoing and any other amounts not reimbursed by the Borrower or such other Loan
Party; provided that no Lender shall be liable for the payment of any portion of such liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements that are found by a final and
nonappealable decision of a court of competent jurisdiction to have resulted primarily from such Agent’s or such other Person’s gross negligence or willful misconduct, and that with respect to such unpaid amounts owed to the Issuing Lender
or the Swingline Lender solely in its capacity as such, only the Revolving Lenders shall be required to pay such unpaid amounts, such payment to be made severally among them based on such Revolving Lenders’ Revolving Percentage (determined as
of the time that the applicable unreimbursed expense or indemnity payment is sought). The agreements in this Section shall survive the payment of the Loans and all other amounts payable hereunder. 

9.8 Agent in Its Individual Capacity. Any Person serving as an Agent hereunder shall have the same rights and powers in its capacity as
a Lender as any other Lender and may exercise the same as though it were not an Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person
serving as an Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, own securities of, act as the financial advisor or in any other advisory capacity for and generally engage in any kind
of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not an Agent hereunder and without any duty to account therefor to the Lenders. 

9.9 Successor Agents. 

(a) The Administrative Agent and any Collateral Agent may at any time give notice of its resignation to the Lenders and the Borrower. If no
such successor Administrative Agent or Collateral Agent shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the applicable retiring Agent gives notice of its resignation (or such earlier
day as shall be agreed by the Required Lenders) (the “Resignation Effective Date”), then the retiring Agent may (but shall not be obligated to), on behalf of the Lenders, appoint a successor Agent meeting the qualifications
set forth above. Whether or not a successor has been appointed, such resignation shall become effective in accordance with such notice on the Resignation Effective Date. 

(b) If the Person serving as Administrative Agent is a Defaulting Lender pursuant to clause (d) of the definition thereof, the
Required Lenders may, to the extent permitted by applicable law, by notice in writing to the Borrower and such Person remove such Person as Administrative Agent and, in consultation with the Borrower, appoint a successor. If no such successor shall
have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days (or such earlier day as shall be agreed by the Required Lenders) (the “Removal Effective Date”), then such removal shall
nonetheless become effective in accordance with such notice on the Removal Effective Date. 
 (c) With effect from the Resignation Effective
Date or the Removal Effective Date (as applicable) (i) the retiring or removed Administrative Agent or Collateral Agent shall be discharged from its 

  
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duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the Administrative Agent on behalf of the Secured Parties under any
of the Loan Documents, the retiring or removed Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed and such collateral security is assigned to such successor
Administrative Agent) and (ii) except for any indemnity payments owed to the retiring or removed Agent, all payments, communications and determinations provided to be made by, to or through the applicable Agent shall instead be made by or to
each Lender directly, until such time, if any, as the Required Lenders appoint a successor Administrative Agent or Collateral Agent as provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent
or Collateral Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring or removed Agent (other than any rights to indemnity payments owed to the retiring or removed
Agent), and the retiring or removed Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The fees payable by the
Borrower to a successor Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring or removed Agent’s resignation or removal hereunder and under the other Loan
Documents, the provisions of Section 9 and Section 10.5 shall continue in effect for the benefit of such retiring or removed Agent, its sub-agents and their respective Related Parties in respect of any actions taken or
omitted to be taken by any of them while the retiring or removed Agent was acting as the Administrative Agent or the Collateral Agent (as applicable). 

9.10 Collateral and Guaranty Matters. The Lenders irrevocably authorize the Administrative Agent, at its option and in its discretion,

 (a) to release any Lien on any Collateral or other property granted to or held by the Administrative Agent under any Loan Document
(i) upon the Discharge of Obligations (other than contingent indemnification obligations) and the expiration or termination of all Letters of Credit, Bank Services and Specified Swap Agreements (other than Letters of Credit, Bank Services and
Specified Swap Agreements the Obligations in respect of which have been Cash Collateralized in an amount equal to 105% thereof in accordance with the terms hereof or, with respect to Bank Services or Specified Swap Agreements, as to which other
arrangements satisfactory to the Administrative Agent, Bank Services Provider and applicable Qualified Counterparty, as applicable, shall have been made), (ii) that is sold or otherwise disposed of or to be sold or otherwise disposed of as part
of or in connection with any sale or other disposition permitted hereunder or under any other Loan Document, or (iii) subject to Section 10.1, if approved, authorized or ratified in writing by the Required Lenders or such other
threshold of requisite threshold of Lenders required under Section 10.1; 
 (b) [reserved]; and 

(c) to release any Guarantor from its obligations under the Guarantee and Collateral Agreement if such Person ceases to be a Subsidiary as a
result of a transaction permitted under the Loan Documents. 
 (d) Upon request by the Administrative Agent at any time, the Required
Lenders will confirm in writing the Administrative Agent’s authority to release its interest in particular types or items of property, or to release any Guarantor from its obligations under the Guaranty pursuant to this
Section 9.10. 
 (e) The Administrative Agent shall not be responsible for or have a duty to ascertain or inquire into any
representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Administrative Agent’s Lien thereon, or any certificate prepared by any Loan Party in connection
therewith, nor shall the Administrative Agent be responsible or liable to the Lenders for any failure to monitor or maintain any portion of the Collateral. 

  
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 9.11 Administrative Agent May File Proofs of Claim. In case of the pendency of any
proceeding under any Debtor Relief Law or any other judicial proceeding relative to any Loan Party, the Administrative Agent (irrespective of whether the principal of any Loan or Obligation in respect of any Letter of Credit shall then be due and
payable as herein expressed or by declaration or otherwise and irrespective of whether the Administrative Agent shall have made any demand on the Borrower) shall be entitled and empowered (but not obligated), by intervention in such proceeding or
otherwise: 
 (a) to file and prove a claim for the whole amount of the principal and interest owing and unpaid in respect of the Loans,
Obligations in respect of any Letter of Credit and all other Obligations that are owing and unpaid and to file such other documents as may be necessary or advisable to have the claims of the Lenders and the Administrative Agent (including any claim
for the reasonable compensation, expenses, disbursements and advances of the Lenders and the Administrative Agent and their respective agents and counsel and all other amounts due the Lenders and the Administrative Agent under Sections 2.9
and 10.5) allowed in such judicial proceeding; and 
 (b) to collect and receive any monies or other property payable or deliverable
on any such claims and to distribute the same; 
 and any custodian, receiver, assignee, trustee, liquidator, sequestrator or other similar official in any
such judicial proceeding is hereby authorized by each Lender to make such payments to the Administrative Agent and, in the event that the Administrative Agent shall consent to the making of such payments directly to the Lenders, to pay to the
Administrative Agent any amount due for the reasonable compensation, expenses, disbursements and advances of the Administrative Agent and its agents and counsel, and any other amounts due the Administrative Agent under Sections 2.9 and
10.5. 
 Nothing contained herein shall be deemed to authorize the Administrative Agent to authorize or consent to or accept or adopt
on behalf of any Lender any plan of reorganization, arrangement, adjustment or composition affecting the Obligations or the rights of any Lender to authorize the Administrative Agent to vote in respect of the claim of any Lender in any such
proceeding. 
 9.12 No Other Duties, Etc. 

(a) Anything herein to the contrary notwithstanding, no Collateral Agent shall have any duties or responsibilities under this Agreement or any
of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender, the Issuing Lender or the Swingline Lender hereunder or any powers excepts for those specifically provided to it hereunder as to the
Collateral Agent in its capacity, as applicable, as the Administrative Agent, a Lender, the Issuing Lender or the Swingline Lender hereunder. Without limiting the foregoing, each of the Collateral Agents, in such capacities, shall not have or be
deemed to have any fiduciary relationship with any Lender or any Loan Party. Each Lender, Agent, Lender, Issuing Lender, and each Loan Party acknowledges that it has not relied, and will not rely, on the Collateral Agents in deciding to enter into
this Agreement or in taking or not taking action hereunder. Each of the Collateral Agents, in such capacities, shall be entitled to resign at any time by giving notice to the other Agents and Borrower. 

(b) Anything herein to the contrary notwithstanding, none of the “Arrangers” or “Syndication Agents” shall have any
powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Administrative Agent, a Lender, the Issuing Lender or the Swingline Lender hereunder. 

  
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 9.13 Collateral Agents. 

Each of SVB and SunTrust is hereby approved to serve as a Collateral Agent under the Loan Documents. 

(a) Notwithstanding anything in this Agreement or any other Loan Document to the contrary but subject to subsection 9.13(e) below,
each of the Collateral Agents, shall have rights as expansive as the rights afforded to Administrative Agent under this Agreement or any other Loan Document relating to (i) (x) the definition in this Agreement of the term “Available
Revolving Commitment” and any component of such definition, and (y) the definition in this Agreement of the term “Borrowing Base” and any component of such definition (including Reserves, Eligible Accounts, Eligible Inventory,
Eligible In-Transit Inventory, advance rates, appraised values and eligibility criteria), (ii) reporting requirements related to the Collateral and Collateral appraisals, examinations and audits, (iii) the establishment, determination,
modification or release of any of the Reserves established pursuant to this Agreement, (iv) intercreditor arrangements, (v) information requests related to the Collateral and Collateral verification, (vi) the inclusion of additional
assets in the Borrowing Base (vii) Borrowing Base eligibility standards, (viii) access rights, (ix) the ability to increase appraisal frequency, (x) perfection notices or requests under the Loan Documents, and (xi) the
ability to perform/witness field examinations, appraisals, inspections and audits. Upon the occurrence and during the continuation of any Event of Default, SunTrust, in its capacity as a Collateral Agent, and without the necessity of consent of the
Required Lenders, is authorized to direct the Administrative Agent to exercise remedies pursuant to Section 8.2. The foregoing to the contrary notwithstanding, SunTrust shall have no obligation to direct the Administrative Agent to take
any such actions. 
 (b) Any provision in this Agreement or any other Loan Document relating to any of the matters covered by
subsection 9.13(a) (collectively, “Collateral Issues”) which would otherwise only require the consent or approval of or be required to be reasonably satisfactory or reasonably acceptable to Administrative Agent or any
Agent shall be deemed to require the consent or approval of or be reasonably satisfactory or reasonably acceptable (as the case may be) to each of the Collateral Agents (subject to any limitations or qualifications on the consent, approval,
satisfaction or acceptance right of Administrative Agent or any Agent set forth in the Loan Documents with respect thereto (including any requirement that requires such consent, approval, satisfaction or acceptance right to be exercised
“reasonably”, in its “reasonable credit judgment” or in its “reasonable discretion”)). 
 (c) If any provision
in this Agreement or any other Loan Document relating to a Collateral Issue allows Administrative Agent to request that any action be taken or any documents or other information be provided by or on behalf of any Loan Party, Administrative Agent
shall make any such request that any of the Collateral Agents may request and shall provide such Collateral Agent with any such documents or information so requested after the receipt thereof by Administrative Agent. 

(d) If Agent or a Collateral Agent makes any proposal with respect to a matter described in the following sentence, the other Collateral Agent
and Administrative Agent shall respond to such proposal within five (5) Business Days. In the event of any action that requires the approval of the Agents or the Collateral Agents (including solely by operation of this
Section 9.13), in the event that SunTrust Bank, in its capacity as Collateral Agent, and SVB, in its capacity as Collateral Agent and/or Administrative Agent cannot, in good faith, reasonably promptly agree on any Collateral Issue,
including any issue relating to the Borrowing Base, Availability, Borrowing Base eligibility standards or calculations, Borrowing Base advance rates, Borrowing Base reporting, Reserves, Collateral appraisals or examinations, intercreditor
arrangements or any other interpretation, action or determination relating to a Collateral Issue which issue is subject to the determination of Administrative Agent, the Agents, the Collateral Agents, or any Agent, or to the consent, approval,
satisfaction or acceptance of Administrative Agent, any Agent, the Collateral Agents, or the Agents, then in each case the resolution of such issue (and also the treatment of such issue during the time period 

  
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pending the resolution of such issue) shall be to implement the most conservative credit judgment with respect to such Collateral Issue (that is, such credit judgment that would result in the
least amount of credit being available to Borrowers under this Agreement or in the most conservative (i.e. the position most protective of the interests of the Secured Parties) approach as to collateral monitoring, information requests, remedies and
the like). 
 (e) Each party hereto hereby agrees that Administrative Agent shall not take any action with respect to the matters set forth
in this Section 9.13 without first notifying the Collateral Agents. 
 (f) Without limiting the generality of the foregoing, the
Agents shall coordinate inspections, audits and appraisals with Collateral Agents and any examiner, auditor or appraiser shall be mutually agreeable to the Collateral Agents; provided, however, that in the event that the Collateral
Agents cannot promptly agree on an examiner, auditor or appraiser, then so long as SunTrust remains a Collateral Agent, SunTrust (in its capacity as a Collateral Agent) shall have the authority to designate the examiner, auditor or appraiser. 

(g) Each Loan Party and Secured Party acknowledges and agrees that the Collateral Agents shall have the same rights provided to Administrative
Agent under the Agreement and other Loan Documents with respect to indemnification, limitations on liability and reliance on notices and other materials provided by the Loan Parties and other Persons and subject in each case, to the same
restrictions and limitations applicable to the Administrative Agent (including, without limitation, qualifications relating to such Person’s discretion). No implied covenants, functions, responsibilities, duties, obligations or liabilities
shall be read into this Agreement or any other Loan Document or otherwise exist against the Collateral Agents. 
 (h) Each Collateral Agent,
in its capacity as a co-Collateral Agent hereunder, acknowledges and agrees that it will not take any action, and will not knowingly direct the Administrative Agent to take any action or omit to take any action, with respect to any Collateral in a
manner that is inconsistent with the terms and provisions of the Intercreditor Agreement. 
 9.14 Reports and Financial Statements.

 Each Bank Services Provider agrees to furnish to the Administrative Agent at such frequency as the Administrative Agent may reasonably
request with a summary of all Obligations in respect of Bank Services due or to become due to such Bank Services Provider. In connection with any distributions to be made hereunder, the Administrative Agent shall be entitled to assume that no
amounts are due to any Bank Services Provider unless the Administrative Agent has received written notice thereof from such Bank Services Provider and if such notice is received, the Administrative Agent shall be entitled to assume that the only
amounts due to such Bank Services Provider on account of Bank Services is the amount set forth in such notice. 
 9.15 Survival. 

This Section 9 shall survive the Discharge of Obligations. 

  
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 SECTION 10 

MISCELLANEOUS 
 10.1
Amendments and Waivers. 
 (a) Neither this Agreement, nor any other Loan Document (other than any L/C Related Document and other than
any Bank Services Agreement), nor any terms hereof or thereof may be amended, supplemented or modified except in accordance with the provisions of this Section 10.1. The Required Lenders and each Loan Party party to the relevant Loan
Document may, or, with the written consent of the Required Lenders, the Administrative Agent and each Loan Party party to the relevant Loan Document may, from time to time, (i) enter into written amendments, supplements or modifications hereto
and to the other Loan Documents for the purpose of adding any provisions to this Agreement or the other Loan Documents or changing in any manner the rights of the Lenders or of the Loan Parties hereunder or thereunder or (ii) waive, on such
terms and conditions as the Required Lenders or the Administrative Agent, as the case may be, may specify in such instrument, any of the requirements of this Agreement or the other Loan Documents or any Default or Event of Default and its
consequences; provided that no such waiver and no such amendment, supplement or modification shall (A) forgive the principal amount or extend the final scheduled date of maturity of any Loan or L/C Disbursement, reduce the stated rate of
any interest or fee payable hereunder (except that any amendment or modification of defined terms used in the financial covenants in this Agreement shall not constitute a reduction in the rate of interest or fees for purposes of this clause
(A)) or extend the scheduled date of any payment thereof, or increase the amount or extend the expiration date of any Lender’s Revolving Commitment, in each case without the written consent of each Lender directly affected thereby;
(B) amend, modify, or eliminate this Section 10.1, Section 5.1, Section 5.2, or Section 9.10, without the written consent of each Lender; (C) eliminate, amend, waive, or otherwise modify the
definition of Required Lenders or reduce any percentage specified in the definition of Required Lenders or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any
determination or grant any consent hereunder, consent to the assignment or transfer by the Borrower of any of its rights and obligations under this Agreement and the other Loan Documents, release all or substantially all of the Collateral or release
all or substantially all of the value of the guarantees of the obligations under the Guarantee and Collateral Agreement, in each case without the written consent of all Lenders; (D) amend or otherwise modify or eliminate the definition of the
term “Borrowing Base” or any component definition thereof if, as a result thereof, the amounts available to be borrowed by the Borrower would be increased, without the written consent of all Lenders, provided that the foregoing
shall not limit the discretion of the Collateral Agents to change, establish or eliminate any Reserves without the consent of any Lenders; (E) (i) amend, modify or waive the pro rata requirements of Section 2.18 in a manner
that adversely affects Revolving Lenders without the written consent of each Revolving Lender or (ii) amend, modify or waive the pro rata requirements of Section 2.18 in a manner that adversely affects the L/C Lenders without the
written consent of each L/C Lender; (F) amend, modify or waive any provision of Section 9 without the written consent of the Administrative Agent; (G) amend, modify or waive any provision of Section 2.6 or
2.7 without the written consent of the Swingline Lender; (H) amend, modify or waive any provision of Section 3 without the written consent of the Issuing Lender; (I)(i) amend or modify the application of payments set forth in
Section 6.3(c) or Section 8.3 in a manner that adversely affects any Lender or any Agent without the written consent of each Lender and each Agent, (ii) amend or modify the application of payments set forth in in
Section 6.3(c) or Section 8.3 in a manner that adversely affects the L/C Lenders without the written consent of the L/C Lenders, or (iii) amend or modify the application of payments provisions set forth in in
Section 6.3(c) or Section 8.3 in a manner that adversely affects the Issuing Lender, Bank Services Provider or any Qualified Counterparty, as applicable, without the written consent of the Issuing Lender, Bank Services
Provider or each such Qualified Counterparty, as applicable, (J) contractually subordinate any of Administrative Agent’s Liens securing the Obligations without the consent of each Lender, (K) amend, modify, or waive any provision of this
Agreement (including Section 9.13) or the other Loan Documents pertaining to an Agent, or any other rights or duties of an Agent under this Agreement or the other 

  
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Loan Documents, without the written consent of each Agent, Borrower, and the Required Lenders, or (L) amend, modify, or eliminate any of the provisions of Section 10.6(b)
restricting assignments to, or participations with, Persons who are Loan Parties or Affiliates or Subsidiaries of any Loan Party. Any such waiver and any such amendment, supplement or modification shall apply equally to each of the Lenders and shall
be binding upon the Loan Parties, the Lenders, each Agent, the Issuing Lender, each Bank Services Provider, each Qualified Counterparty, and all future holders of the Loans. In the case of any waiver, the Loan Parties, the Lenders and the
Administrative Agent shall be restored to their former position and rights hereunder and under the other Loan Documents, and any Default or Event of Default waived shall be deemed to be cured during the period such waiver is effective; but no such
waiver shall extend to any subsequent or other Default or Event of Default, or impair any right consequent thereon. Notwithstanding the foregoing, the Issuing Lender may amend any of the L/C Documents without the consent of the Administrative Agent
or any other Lender. 
 (b) Notwithstanding anything to the contrary contained in Section 10.1(a) above, in the event that the
Borrower or any other Loan Party, as applicable, requests that this Agreement or any of the other Loan Documents, as applicable, be amended or otherwise modified in a manner which would require the consent of all of the Lenders and such amendment or
other modification is agreed to by the Borrower and/or such other Loan Party, as applicable, the Required Lenders and the Administrative Agent, then, with the consent of the Borrower and/or such other Loan Party, as applicable, the Administrative
Agent and the Required Lenders, this Agreement or such other Loan Document, as applicable, may be amended without the consent of the Lender or Lenders who are unwilling to agree to such amendment or other modification (each, a “Minority
Lender”), to provide for: 
 (i) the termination of the Revolving Commitments of each such Minority Lender; 

(ii) the assumption of the Loans and Revolving Commitments of each such Minority Lender by one or more Replacement Lenders pursuant to the
provisions of Section 2.23; and 
 (iii) the payment of all interest, fees and other obligations payable or accrued in favor of
each Minority Lender and such other modifications to this Agreement or to such Loan Documents as the Borrower, the Administrative Agent and the Required Lenders may determine to be appropriate in connection therewith. 

(c) [Reserved.] 
 (d)
Notwithstanding any provision herein to the contrary, any Bank Services Agreement or Specified Swap Agreement may be amended or otherwise modified by the parties thereto in accordance with the terms thereof without the consent of the Administrative
Agent or any Lender. 
 10.2 Notices. 

(a) All notices, requests and demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile or
electronic mail), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered, or three (3) Business Days after being deposited in the mail, postage prepaid, or, in the case of facsimile or
electronic mail notice, when received, addressed as follows in the case of the Borrower and the Administrative Agent and SunTrust in its capacity as a Collateral Agent, and as set forth in an administrative questionnaire delivered to the
Administrative Agent in the case of the Lenders, or to such other address as may be hereafter notified by the respective parties hereto: 

  
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			Borrower:		FitBit, Inc.
					150 Spear Street
					San Francisco, California 94105
			
					with a copy to (which shall not constitute notice):
			
					Fenwick & West LLP
					801 California Street
					Mountain View, CA 94041
			
			Administrative Agent		Silicon Valley Bank
			or SVB, as a Collateral		2400 Hanover Street
			Agent:		Palo Alto, CA 94304
			
					with a copy to (which shall not constitute notice):
			
					Riemer & Braunstein LLP
					7 Times Square, Ste. 2506
					New York, NY 10036

  
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			SunTrust Bank, as a		SunTrust Bank
			Collateral Agent:		3333 Peachtree Road, 9th Floor
					Atlanta, GA 30326
					Attention: Angela Leake, Asset Based
					Lending
			
					With a copy to (which shall not constitute
					notice):
			
					SunTrust Bank
					303 Peachtree St., Atlanta, GA 30308
					Attention: Diane S. White, Senior Counsel

 provided that any notice, request or demand to or upon the Administrative Agent, any Collateral Agent or the Lenders
shall not be effective until received. 
 (b) Notices and other communications to the Lenders hereunder may be delivered or furnished by
electronic communications (including email and Internet websites) pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices to any Lender pursuant to Section 2 unless
otherwise agreed by the Administrative Agent and the applicable Lender. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to
procedures approved by it; provided that approval of such procedures may be limited to particular notices or communications. Unless the Administrative Agent otherwise prescribes, (a) notices and other communications sent to an email
address shall be deemed received upon the sender’s receipt of an acknowledgment from the intended recipient (such as by the “return receipt requested” function, as available, return email or other written acknowledgment); and (b)
notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt by the intended recipient at its email address as described in the foregoing clause (a) of notification that such notice
or communication is available and identifying the website address therefor; provided that, for both clauses (a) and (b), if such notice or other communication is not sent during the normal business hours of the recipient,
such notice or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 
 (c)
Any party hereto may change its address or facsimile number for notices and other communications hereunder by notice to the other parties hereto. 

(d) (i) Each Loan Party agrees that the Administrative Agent may, but shall not be obligated to, make the Communications (as defined below)
available to the Issuing Lender and the other Lenders by posting the Communications on Debt Domain, Intralinks, Syndtrak or a substantially similar electronic transmission system (the “Platform”). 

(ii) the Platform is provided “as is” and “as available.” The Agent Parties (as defined below) do not warrant the
adequacy of the Platform and expressly disclaim liability for errors or omissions in the Communications. No warranty of any kind, express, implied or statutory, including, without 

  
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limitation, any warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in
connection with the Communications or the Platform. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the Borrower or the other Loan Parties,
any Lender or any other Person or entity for damages of any kind, including, without limitation, direct or indirect, special, incidental or consequential damages, losses or expenses (whether in tort, contract or otherwise) arising out of the
Borrower’s, any Loan Party’s or the Administrative Agent’s transmission of communications through the Platform. “Communications” means, collectively, any notice, demand, communication, information, document or
other material provided by or on behalf of any Loan Party pursuant to any Loan Document or the transactions contemplated therein which is distributed to the Administrative Agent, any Lender or the Issuing Lender by means of electronic communications
pursuant to this Section, including through the Platform. 
 10.3 No Waiver; Cumulative Remedies. No failure to exercise and no delay
in exercising, on the part of the Administrative Agent or any Lender, any right, remedy, power or privilege hereunder or under the other Loan Documents shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy,
power or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights,
remedies, powers and privileges provided by law. 
 10.4 Survival of Representations and Warranties. All representations and
warranties made hereunder, in the other Loan Documents and in any document, certificate or statement delivered pursuant hereto or in connection herewith shall survive the execution and delivery of this Agreement and the making of the Loans and other
extensions of credit hereunder. 
 10.5 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by each Agent and its Affiliates
(including the reasonable fees, charges and disbursements of counsel for each Agent), and shall pay all fees and time charges and disbursements for attorneys who may be employees of any Agent, in connection with the syndication of the Facilities,
the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents, or any amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby
or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Issuing Lender in connection with the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder, and
(iii) all out- of-pocket expenses incurred by any Agent or any Lender (including the fees, charges and disbursements of any counsel for any Agent or any Lender, and shall pay all fees and time charges for attorneys who may be employees of any
Agent or any Lender, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made or
Letters of Credit issued or participated in hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of Credit. 

(b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any sub-agent thereof), each other
Agent (and any sub-agent thereof), each Lender (including the Issuing Lender), and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses, claims, damages, liabilities and related expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and
disbursements for attorneys who may be employees of any Indemnitee, incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrower or any other Loan Party) other than such Indemnitee and its Related Parties
arising out of, in connection with, or as a result of (i) the execution or 

  
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delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder
or thereunder or the consummation of the transactions contemplated hereby or thereby, (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by the Issuing Lender to honor a demand for
payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of Materials of Environmental Concern on
or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation
or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrower or any other Loan Party, and regardless of whether any Indemnitee is a party thereto;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and
nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim brought by the Borrower or any other Loan Party against an Indemnitee for breach in bad faith of such
Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower or such Loan Party has obtained a final and nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. This
Section 10.5(b) shall not apply with respect to Taxes other than any Taxes that represent losses, claims, damages, etc. arising from any non-Tax claim. 

(c) Reimbursement by Lenders. To the extent that the Borrower or any other Loan Party pursuant to any other Loan Document for any
reason fails indefeasibly to pay any amount required under paragraph (a) or (b) of this Section to be paid by it to any Agent (or any sub-agent thereof), the Issuing Lender, the Swingline Lender or any Related Party of any of
the foregoing, each Lender severally agrees to pay to such Agent (or any such sub-agent), the Issuing Lender, the Swingline Lender or such Related Party, as the case may be, such Lender’s pro rata share (determined as of the time that
the applicable unreimbursed expense or indemnity payment is sought based on each Lender’s share of the Total Credit Exposure at such time) of such unpaid amount (including any such unpaid amount in respect of a claim asserted by such Lender);
provided that with respect to such unpaid amounts owed to the Issuing Lender or the Swingline Lender solely in its capacity as such, only the Revolving Lenders shall be required to pay such unpaid amounts, such payment to be made severally
among them based on such Revolving Lenders’ Revolving Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) and provided further, that the unreimbursed expense or indemnified loss,
claim, damage, liability or related expense, as the case may be, was incurred by or asserted against any Agent (or any such sub-agent), the Issuing Lender or the Swingline Lender in its capacity as such, or against any Related Party of any of the
foregoing acting for such Agent (or any such sub- agent), the Issuing Lender or the Swingline Lender in connection with such capacity. The obligations of the Lenders under this paragraph (c) are subject to the provisions of Sections
2.1, 2.4 and 2.20(e). 
 (d) Waiver of Consequential Damages, Etc. To the fullest extent permitted by applicable
law, the Borrower shall not assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection
with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or Letter of Credit, or the use of the proceeds thereof. Absent the gross
negligence or willful misconduct of such Indemnitee as determined by a court of competent jurisdiction by a final and nonappealable judgment, no Indemnitee referred to in paragraph (b) above shall be liable for any damages arising from
the use by unintended recipients of any information or other materials distributed by it through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby. 

  
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 (e) Payments. All amounts due under this Section shall be payable promptly after demand
therefor. 
 (f) Survival. Each party’s obligations under this Section shall survive the resignation of any of the Agents, the
Issuing Lender and the Swingline Lender, the replacement of any Lender, the termination of the Loan Documents, the termination of the Revolving Commitments and the Discharge of Obligations. 

10.6 Successors and Assigns; Participations and Assignments. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby (which for purposes of this Section 10.6 shall include any Bank Services Provider (in its capacity as a provider of Bank Services) that is party to any Bank Services
Agreement with the Borrower or another Group Member), except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of the Administrative Agent and each Lender, and no
Lender may assign or otherwise transfer any of its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of paragraph (b) of this Section, (ii) by way of participation in accordance with
the provisions of paragraph (d) of this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of paragraph (f) of this Section (and any other attempted assignment or transfer
by any party hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants to the
extent provided in paragraph (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Agents and the Lenders) any legal or equitable right, remedy or claim under or by reason of this
Agreement. 
 (b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all or a portion of its rights
and obligations under this Agreement (including all or a portion of its Revolving Commitments and the Loans at the time owing to it); provided that (in each case with respect to any Facility) any such assignment shall be subject to the
following conditions: 
 (i) Minimum Amounts. 

(A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Revolving Commitments and/or the Loans at the
time owing to it (in each case with respect to any Facility) or contemporaneous assignments to related Approved Funds that equal at least the amount specified in paragraph (b)(i)(B) of this Section in the aggregate or in the case of an
assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and 
 (B) in any case not
described in paragraph (b)(i)(A) of this Section, the aggregate amount of the Revolving Commitments (which for this purpose includes Loans outstanding thereunder) or, if the applicable Revolving Commitment is not then in effect, the principal
outstanding balance of the Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade
Date” is specified in the Assignment and Assumption, as of the Trade Date) shall not be less than $5,000,000 unless each of the Administrative Agent and, so long as no Default or Event of Default has occurred and is continuing, the
Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed). 

  
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 (ii) Proportionate Amounts. Each partial assignment shall be made as an assignment of a
proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans and/or the Revolving Commitments assigned, except that this clause (ii) shall not prohibit any Lender from
assigning all or a portion of its rights and obligations among separate Facilities on a non-pro rata basis. 
 (iii) Required
Consents. No consent shall be required for any assignment by a Lender except to the extent required by paragraph (b)(i)(B) of this Section and, in addition: 

(A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (x) a Default or an
Event of Default has occurred and is continuing at the time of such assignment, or (y) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the consent of the Borrower for an assignment to any
Person that the Borrower reasonably classifies in writing as a competitor of the Borrower may be given or denied by the Borrower in its sole discretion; and provided, further, that the Borrower shall be deemed to have consented to any
such assignment unless it shall object thereto by written notice to the Administrative Agent within five Business Days after having received reasonably detailed written notice thereof; 

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

(C) the consent (such consent not to be unreasonably withheld or delayed) of the Issuing Lender and the Swingline Lender shall be required
for any assignment in respect of the Revolving Facility. 
 (iv) Assignment and Assumption. The parties to each assignment shall
execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; provided that the Administrative Agent may, in its sole discretion, elect to waive such processing and
recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent any such administrative questionnaire as the Administrative Agent may request. 

(v) No Assignment to Certain Persons. No such assignment shall be made to (A) a Loan Party or any of a Loan Party’s Affiliates or
Subsidiaries or (B) to any Defaulting Lender or any of its Subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (B). 

(vi) No Assignment to Natural Persons. No such assignment shall be made to a natural Person. 

(vii) Certain Additional Payments. In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no
such assignment shall be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon
distribution thereof as appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent,
the applicable pro rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then
owed by such Defaulting Lender to the Administrative Agent, the Issuing Lender, the Swingline Lender and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans
and participations in 

  
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Letters of Credit and Swingline Loans in accordance with its Revolving Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting
Lender hereunder shall become effective under applicable law without compliance with the provisions of this paragraph, then the assignee of such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such
compliance occurs. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to paragraph (c) of this Section, from
and after the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a
Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption
covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 2.19, 2.20, 2.21 and
10.5 with respect to facts and circumstances occurring prior to the effective date of such assignment; provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a Defaulting Lender will
constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this
paragraph shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (d) of this Section. 

(c) Register. The Administrative Agent, acting solely for this purpose as an agent of the Borrower, shall maintain at one of its
offices in California a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Revolving Commitments of, and principal amounts (and stated interest) of the Loans
owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive absent manifest error, and the Borrower, the Administrative Agent and the Lenders shall
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement. The Register shall be available for inspection by the Borrower and any Lender, at any reasonable time and
from time to time upon reasonable prior notice. 
 (d) Participations. Any Lender may at any time, without the consent of, or notice
to, the Borrower, the Administrative Agent, the Issuing Lender or the Swingline Lender, sell participations to any Person (other than a natural Person or any Loan Party or any of any Loan Party’s Affiliates or Subsidiaries) (each, a
“Participant”) in all or a portion of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Revolving Commitments and/or the Loans owing to it); provided that
(i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, and (iii) the Borrower, the
Administrative Agent, the Issuing Lender and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. For the avoidance of doubt, each Lender
shall be responsible for the indemnities under Sections 2.20(e) and 9.7 with respect to any payments made by such Lender to its Participant(s). 

Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right
to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree
to any amendment, modification or waiver which affects such Participant and for which the consent of such Lender is required (as described in Section 10.1). The Borrower agrees that each Participant shall be entitled to the benefits of
Sections 2.19, 2.20 and 2.21 (subject to the requirements and limitations therein, including the requirements under Section 2.20(f) (it being understood that the documentation required under
Section 2.20(f) shall be delivered to such 

  
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Participant)) to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section; provided that such Participant
(A) agrees to be subject to the provisions of Section 2.23 as if it were an assignee under paragraph (b) of this Section; and (B) shall not be entitled to receive any greater payment under Sections 2.19 or
2.20, with respect to any participation, than its participating Lender would have been entitled to receive, except to the extent such entitlement to receive a greater payment results from a change in any Requirement of Law that occurs after
the Participant acquired the applicable participation. Each Lender that sells a participation agrees, at the Borrower’s request and expense, to use reasonable efforts to cooperate with the Borrower to effectuate the provisions of
Section 2.23 with respect to any Participant. To the extent permitted by law, each Participant also shall be entitled to the benefits of Section 10.7 as though it were a Lender; provided that such Participant agrees to
be subject to Section 2.18(k) as though it were a Lender. Each Lender that sells a participation shall, acting solely for this purpose as a nonfiduciary agent of the Borrower, maintain a register on which it enters the name and address
of each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the Loan Documents (the “Participant Register”); provided that no Lender
shall have any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other
obligations under any Loan Document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under Section 5f.103-1(c) of the
United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is recorded in the Participant Register as the owner of such participation for
all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent) shall have no responsibility for maintaining a Participant Register. 

(e) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank; provided that no such pledge or assignment shall release such Lender from any of its obligations hereunder or
substitute any such pledgee or assignee for such Lender as a party hereto. 
 (f) Notes. The Borrower, upon receipt by the Borrower
of written notice from the relevant Lender, agrees to issue Notes to any Lender requiring Notes to facilitate transactions of the type described in Section 10.6. 

10.7 Adjustments; Set-off. 

(a) Except to the extent that this Agreement expressly provides for payments to be allocated to a particular Lender or to the Lenders under a
particular Facility, if any Lender (a “Benefitted Lender”) shall, at any time after the Loans and other amounts payable hereunder shall immediately become due and payable pursuant to Section 8.2, receive any
payment of all or part of the Obligations owing to it, or receive any collateral in respect thereof (whether voluntarily or involuntarily, by set-off, pursuant to events or proceedings of the nature referred to in Section 8.1(f), or
otherwise), in a greater proportion than any such payment to or collateral received by any other Lender, if any, in respect of the Obligations owing to such other Lender, such Benefitted Lender shall purchase for cash from the other Lenders a
participating interest in such portion of the Obligations owing to each such other Lender, or shall provide such other Lenders with the benefits of any such collateral, as shall be necessary to cause such Benefitted Lender to share the excess
payment or benefits of such collateral ratably with each of the Lenders; provided that if all or any portion of such excess payment or benefits is thereafter recovered from such Benefitted Lender, such purchase shall be rescinded, and the
purchase price and benefits returned, to the extent of such recovery, but without interest. 

  
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 (b) Upon (i) the occurrence and during the continuance of any Event of Default and
(ii) obtaining the prior written consent of the Administrative Agent, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, without prior notice to the Borrower or any other Loan Party, any such notice
being expressly waived by the Borrower and each Loan Party, to the fullest extent permitted by applicable law, to set off and apply any and all deposits (general or special, time or demand, provisional or final), in any currency, at any time held or
owing, and any other credits, indebtedness, claims or obligations, in any currency, in each case whether direct or indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender, its Affiliates or any branch or
agency thereof to or for the credit or the account of the Borrower or any other Loan Party, as the case may be, against any and all of the obligations of the Borrower or such other Loan Party now or hereafter existing under this Agreement or any
other Loan Document to such Lender or its Affiliates, irrespective of whether or not such Lender or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such obligations of the Borrower or such other Loan
Party may be contingent or unmatured or are owed to a branch, office or Affiliate of such Lender different from the branch, office or Affiliate holding such deposit or obligated on such indebtedness; provided, that in the event that any
Defaulting Lender or any of its Affiliates shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of
Section 2.23 and, pending such payment, shall be segregated by such Defaulting Lender or Affiliate thereof from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders, and (y) the
Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the Obligations owing to such Defaulting Lender or Affiliate thereof as to which it exercised such right of setoff. Each Lender agrees
to notify the Borrower and the Administrative Agent promptly after any such setoff and application made by such Lender or any of its Affiliates; provided that the failure to give such notice shall not affect the validity of such setoff and
application. The rights of each Lender and its Affiliates under this Section 10.7 are in addition to other rights and remedies (including other rights of set-off) which such Lender or its Affiliates may have. 

10.8 Payments Set Aside. If any Secured Party repays, refunds, restores, or returns in whole or in part, any payment or property
(including any proceeds of Collateral) previously paid or transferred to such Person in full or partial satisfaction of any Obligation or on account of any other obligation of any Loan Party under any Loan Document or any Bank Services Agreement or
any Specified Swap Agreement, because the payment, transfer, or the incurrence of the obligation so satisfied is asserted or declared to be void, voidable, or otherwise recoverable under any law relating to creditors’ rights, including
provisions of the Bankruptcy Code relating to fraudulent transfers, preferences, or other voidable or recoverable obligations or transfers (each, a “Voidable Transfer”), or because such Person elects to do so on the reasonable
advice of its counsel in connection with a claim that the payment, transfer, or incurrence is or may be a Voidable Transfer, then, as to any such Voidable Transfer, or the amount thereof that such Person elects to repay, restore, or return
(including pursuant to a settlement of any claim in respect thereof), and as to all reasonable costs, expenses, and attorneys’ fees of such Lender or Bank Services Provider related thereto, (i) the liability of the Loan Parties with
respect to the amount or property paid, refunded, restored, or returned will automatically and immediately be revived, reinstated, and restored and will exist and (ii) the Administrative Agent’s Liens securing such liability shall be
effective, revived, and remain in full force and effect, in each case, as fully as if such Voidable Transfer had never been made. If, prior to any of the foregoing, (A) the Administrative Agent’s Liens shall have been released or
terminated or (B) any provision of this Agreement shall have been terminated or cancelled, the Administrative Agent’s Liens, or such provision of this Agreement, shall be reinstated in full force and effect and such prior release,
termination, cancellation or surrender shall not diminish, release, discharge, impair or otherwise affect the obligation of any Loan Party in respect of such liability or any Collateral securing such liability. This Section 10.8 shall
survive the Discharge of Obligations. 
 10.9 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any
Loan Document, the interest paid or agreed to be paid under the Loan Documents shall not exceed the maximum 

  
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rate of non-usurious interest permitted by applicable law (the “Maximum Rate”). If any Agent or any Lender shall receive interest in an amount that exceeds the Maximum
Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower. In determining whether the interest contracted for, charged, or received by any Agent or a Lender exceeds the
Maximum Rate, such Person may, to the extent permitted by applicable law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof,
and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 

10.10 Counterparts; Electronic Execution of Assignments. 

(a) This Agreement may be executed by one or more of the parties to this Agreement on any number of separate counterparts, and all of said
counterparts taken together shall be deemed to constitute one and the same instrument. Delivery of an executed signature page of this Agreement by facsimile or other electronic mail transmission shall be effective as delivery of a manually executed
counterpart hereof. A set of the copies of this Agreement signed by all the parties shall be lodged with the Borrower and the Administrative Agent. 

(b) The words “execution,” “signed,” “signature,” and words of like import in any Assignment and Assumption
shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act. 
 10.11 Severability. Any provision of this Agreement that is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability
in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section 10.11, if and to the extent that the enforceability of any provisions in
this Agreement relating to Defaulting Lenders shall be limited under or in connection with any Insolvency Proceeding, as determined in good faith by the Administrative Agent or the Issuing Lender, as applicable, then such provisions shall be deemed
to be in effect only to the extent not so limited. 
 10.12 Integration. This Agreement and the other Loan Documents represent the
entire agreement of the Borrower, the other Loan Parties, the Agents and the Lenders with respect to the subject matter hereof and thereof, and there are no promises, undertakings, representations or warranties by any Agent or any Lender relative to
the subject matter hereof not expressly set forth or referred to herein or in the other Loan Documents. 
 10.13 GOVERNING LAW. THE
VALIDITY OF THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (UNLESS EXPRESSLY PROVIDED TO THE CONTRARY IN ANOTHER LOAN DOCUMENT IN RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF AND THEREOF, THE RIGHTS OF
THE PARTIES HERETO AND THERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO, AND ANY CLAIMS, CONTROVERSIES OR DISPUTES ARISING HEREUNDER OR THEREUNDER OR RELATED HERETO OR THERETO SHALL BE GOVERNED BY, AND
CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. This Section 10.13 shall survive the Discharge of Obligations. 

  
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 10.14 Submission to Jurisdiction; Waivers. The Borrower hereby irrevocably and
unconditionally: 
 (a) submits to the exclusive jurisdiction of the State and Federal courts in the Southern District of the State of New
York in the Borough of Manhattan; provided that nothing in this Agreement shall be deemed to operate to preclude the Administrative Agent or any Lender from bringing suit or taking other legal action in any other jurisdiction to realize on
the Collateral or any other security for the Obligations, or to enforce a judgment or other court order in favor of Administrative Agent or such Lender. The Borrower expressly submits and consents in advance to such jurisdiction in any action or
suit commenced in any such court, and the Borrower hereby waives any objection that it may have based upon lack of personal jurisdiction, improper venue, or forum non conveniens and hereby consents to the granting of such legal or equitable relief
as is deemed appropriate by such court. The Borrower hereby waives personal service of the summons, complaints, and other process issued in such action or suit and agrees that service of such summons, complaints, and other process may be made by
registered or certified mail addressed to the Borrower at the addresses set forth in Section 10.2 of this Agreement and that service so made shall be deemed completed upon the earlier to occur of the Borrower’s actual receipt
thereof or three (3) days after deposit in the U.S. mails, proper postage prepaid; 
 (b) WAIVES, TO THE EXTENT PERMITTED BY
APPLICABLE LAW, ITS RIGHT TO A JURY TRIAL OF ANY CLAIM OR CAUSE OF ACTION ARISING OUT OF OR BASED UPON THIS AGREEMENT, THE OTHER LOAN DOCUMENTS OR ANY CONTEMPLATED TRANSACTION, INCLUDING CONTRACT, TORT, BREACH OF DUTY AND ALL OTHER CLAIMS. THIS
WAIVER IS A MATERIAL INDUCEMENT FOR THE PARTIES TO ENTER INTO THIS AGREEMENT. EACH PARTY HAS REVIEWED THIS WAIVER WITH ITS COUNSEL; 

(c) AGREES THAT IN THE EVENT ANY LEGAL PROCEEDING IS FILED IN A COURT OF THE STATE OF CALIFORNIA (THE
“COURT”) BY OR AGAINST ANY PARTY HERETO IN CONNECTION WITH ANY CLAIM AND THE WAIVER SET FORTH IN SECTION 10.13 ABOVE IS NOT ENFORCEABLE IN SUCH PROCEEDING, THE PARTIES HERETO AGREE AS FOLLOWS: 

(i) WITH THE EXCEPTION OF THE MATTERS SPECIFIED IN SUBCLAUSE (ii) BELOW, ANY CLAIM SHALL BE DETERMINED BY A GENERAL REFERENCE
PROCEEDING IN ACCORDANCE WITH THE PROVISIONS OF CALIFORNIA CODE OF CIVIL PROCEDURE SECTIONS 638 THROUGH 645.1. THE PARTIES INTEND THIS GENERAL REFERENCE AGREEMENT TO BE SPECIFICALLY ENFORCEABLE. VENUE FOR THE REFERENCE PROCEEDING SHALL BE IN THE
COUNTY OF LOS ANGELES, CALIFORNIA. 
 (ii) THE FOLLOWING MATTERS SHALL NOT BE SUBJECT TO A GENERAL REFERENCE PROCEEDING:
(A) NON-JUDICIAL FORECLOSURE OF ANY SECURITY INTERESTS IN REAL OR PERSONAL PROPERTY, (B) EXERCISE OF SELF-HELP REMEDIES (INCLUDING SET-OFF OR RECOUPMENT), (C) APPOINTMENT OF A RECEIVER, AND (D) TEMPORARY, PROVISIONAL, OR
ANCILLARY REMEDIES (INCLUDING WRITS OF ATTACHMENT, WRITS OF POSSESSION, TEMPORARY RESTRAINING ORDERS, OR PRELIMINARY INJUNCTIONS). THIS AGREEMENT DOES NOT LIMIT THE RIGHT OF ANY PARTY TO EXERCISE OR OPPOSE ANY OF THE RIGHTS AND REMEDIES DESCRIBED IN
CLAUSES (A) - (D) AND ANY SUCH EXERCISE OR OPPOSITION DOES NOT WAIVE THE RIGHT OF ANY PARTY TO PARTICIPATE IN A REFERENCE PROCEEDING PURSUANT TO THIS AGREEMENT WITH RESPECT TO ANY OTHER MATTER. 

  
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 (iii) UPON THE WRITTEN REQUEST OF ANY PARTY, THE PARTIES SHALL SELECT A SINGLE REFEREE, WHO
SHALL BE A RETIRED JUDGE OR JUSTICE. IF THE PARTIES DO NOT AGREE UPON A REFEREE WITHIN 10 DAYS OF SUCH WRITTEN REQUEST, THEN, ANY PARTY SHALL HAVE THE RIGHT TO REQUEST THE COURT TO APPOINT A REFEREE PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE
SECTION 640(B). THE REFEREE SHALL BE APPOINTED TO SIT WITH ALL OF THE POWERS PROVIDED BY LAW. PENDING APPOINTMENT OF THE REFEREE, THE COURT SHALL HAVE THE POWER TO ISSUE TEMPORARY OR PROVISIONAL REMEDIES. 

(iv) EXCEPT AS EXPRESSLY SET FORTH IN THIS AGREEMENT, THE REFEREE SHALL DETERMINE THE MANNER IN WHICH THE REFERENCE PROCEEDING IS
CONDUCTED INCLUDING THE TIME AND PLACE OF HEARINGS, THE ORDER OF PRESENTATION OF EVIDENCE, AND ALL OTHER QUESTIONS THAT ARISE WITH RESPECT TO THE COURSE OF THE REFERENCE PROCEEDING. ALL PROCEEDINGS AND HEARINGS CONDUCTED BEFORE THE REFEREE, EXCEPT
FOR TRIAL, SHALL BE CONDUCTED WITHOUT A COURT REPORTER, EXCEPT WHEN ANY PARTY SO REQUESTS A COURT REPORTER AND A TRANSCRIPT IS ORDERED, A COURT REPORTER SHALL BE USED AND THE REFEREE SHALL BE PROVIDED A COURTESY COPY OF THE TRANSCRIPT. THE PARTY
MAKING SUCH REQUEST SHALL HAVE THE OBLIGATION TO ARRANGE FOR AND PAY THE COSTS OF THE COURT REPORTER, PROVIDED THAT SUCH COSTS, ALONG WITH THE REFEREE’S FEES, SHALL ULTIMATELY BE BORNE BY THE PARTY WHO DOES NOT PREVAIL, AS DETERMINED BY THE
REFEREE. 
 (v) THE REFEREE MAY REQUIRE ONE OR MORE PREHEARING CONFERENCES. THE PARTIES HERETO SHALL BE ENTITLED TO DISCOVERY, AND
THE REFEREE SHALL OVERSEE DISCOVERY IN ACCORDANCE WITH THE RULES OF DISCOVERY, AND SHALL ENFORCE ALL DISCOVERY ORDERS IN THE SAME MANNER AS ANY TRIAL COURT JUDGE IN PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA. 

(vi) THE REFEREE SHALL APPLY THE RULES OF EVIDENCE APPLICABLE TO PROCEEDINGS AT LAW IN THE STATE OF CALIFORNIA AND SHALL DETERMINE ALL
ISSUES IN ACCORDANCE WITH CALIFORNIA SUBSTANTIVE AND PROCEDURAL LAW. THE REFEREE SHALL BE EMPOWERED TO ENTER EQUITABLE AS WELL AS LEGAL RELIEF AND RULE ON ANY MOTION WHICH WOULD BE AUTHORIZED IN A TRIAL, INCLUDING MOTIONS FOR DEFAULT JUDGMENT OR
SUMMARY JUDGMENT. THE REFEREE SHALL REPORT HIS OR HER DECISION, WHICH REPORT SHALL ALSO INCLUDE FINDINGS OF FACT AND CONCLUSIONS OF LAW. THE REFEREE SHALL ISSUE A DECISION AND PURSUANT TO CALIFORNIA CODE OF CIVIL PROCEDURE, SECTION 644, THE
REFEREE’S DECISION SHALL BE ENTERED BY THE COURT AS A JUDGMENT IN THE SAME MANNER AS IF THE ACTION HAD BEEN TRIED BY THE COURT. THE FINAL JUDGMENT OR ORDER FROM ANY APPEALABLE DECISION OR ORDER ENTERED BY THE REFEREE SHALL BE FULLY APPEALABLE
AS IF IT HAS BEEN ENTERED BY THE COURT. 
 (vii) THE PARTIES RECOGNIZE AND AGREE THAT ALL CLAIMS RESOLVED IN A GENERAL
REFERENCE PROCEEDING PURSUANT HERETO WILL BE DECIDED BY A REFEREE AND NOT BY A JURY. AFTER CONSULTING (OR HAVING HAD THE OPPORTUNITY TO CONSULT) WITH COUNSEL OF THEIR OWN CHOICE, EACH PARTY HERETO KNOWINGLY AND VOLUNTARILY AND FOR THEIR MUTUAL
BENEFIT AGREES THAT THIS REFERENCE PROVISION SHALL APPLY TO ANY DISPUTE BETWEEN THEM THAT ARISES OUT OF OR IS RELATED TO THIS AGREEMENT OR THE OTHER LOAN DOCUMENTS; and 

  
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 (d) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section any special, exemplary, punitive or consequential damages. 
 This
Section 10.14 shall survive the Discharge of Obligations. 
 10.15 Acknowledgements. The Borrower hereby acknowledges
that: 
 (a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents; 

(b) none of any Agent nor any Lender has any fiduciary relationship with or duty to the Borrower arising out of or in connection with this
Agreement or any of the other Loan Documents, and the relationship between the Agents and Lenders, on one hand, and the Borrower, on the other hand, in connection herewith or therewith is solely that of debtor and creditor; and 

(c) no joint venture is created hereby or by the other Loan Documents or otherwise exists by virtue of the transactions contemplated hereby
among the Lenders or among the Borrower and the Lenders. 
 10.16 [Reserved.] 

10.17 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent and each Lender agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its Related Parties having a need to know such information in connection with the transactions contemplated by this
Agreement (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential); (b) to the extent required or requested by
any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as the National Association of Insurance Commissioners), in which case such Person agrees, except with
respect to any audit or examination conducted by bank accountants or any governmental bank regulatory authority exercising examination or regulator authority, to the extent practicable and not prohibited by applicable law, to inform the Borrower
promptly thereof; (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process, upon the request or demand of any Governmental Authority, in response to any order of any court or other Governmental
Authority or as may otherwise be required pursuant to any Requirement of Law or if requested or required to do so in connection with any litigation or similar proceeding (in which case such Person agrees, to the extent practicable and not prohibited
by applicable laws, regulations, subpoena or legal process, to inform the Borrower promptly thereof); (d) to any other party hereto; (e) in connection with the exercise of any remedies hereunder or under any other Loan Document or any
action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder; (f) subject to an agreement enforceable by the Borrower containing provisions substantially the same as those of
this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights and obligations under this Agreement, or (ii) any actual or prospective party (or its Related Parties) to any swap,
derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder; (g) on a confidential basis to (i) any rating agency in connection with rating the
Borrower or its Subsidiaries or the Facilities or (ii) the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the Facilities; (h) with the consent of the Borrower; or
(i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section, or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a
non-confidential basis from a source other than the Borrower. 

  
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 Notwithstanding anything herein to the contrary, any party to this Agreement (and any employee,
representative, or other agent of any party to this Agreement) may disclose to any and all persons, without limitation of any kind, the tax treatment and tax structure of the transactions contemplated by this Agreement and all materials of any kind
(including opinions or other tax analyses) that are provided to it relating to such tax treatment and tax structure. However, any such information relating to the tax treatment or tax structure is required to be kept confidential to the extent
necessary to comply with any applicable federal or state securities laws. 
 For purposes of this Section,
“Information” means all information received from the Borrower or any of its Subsidiaries relating to the Borrower or any of its Subsidiaries or any of their respective businesses, other than any such information that is
available to the Administrative Agent or any Lender on a non-confidential basis prior to disclosure by the Borrower or any of its Subsidiaries; provided that, in the case of information received from the Borrower or any of its Subsidiaries
after the date hereof, such information is clearly identified at the time of delivery as confidential. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its
obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information, but in no event less than reasonable care. 

10.18 Automatic Debits. With respect to any principal, interest, fee, or any other cost or expense (including attorney costs of any
Agent or any Lender payable by the Borrower hereunder) due and payable to any Agent or any Lender under the Loan Documents, the Borrower hereby irrevocably authorizes the Administrative Agent to debit any deposit account of the Borrower maintained
with the Administrative Agent in an amount such that the aggregate amount debited from all such deposit accounts does not exceed such principal, interest, fee or other cost or expense. If there are insufficient funds in such deposit accounts to
cover the amount then due, such debits will be reversed (in whole or in part, in the Administrative Agent’s sole discretion) and such amount not debited shall be deemed to be unpaid. No such debit under this Section 10.18 shall be
deemed a set-off. 
 10.19 Judgment Currency. If, for the purposes of obtaining judgment in any court, it is necessary to convert a
sum due hereunder or any other Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Administrative Agent could purchase the first currency with such
other currency on the Business Day preceding that on which final judgment is given. The obligation of each Borrower and each other Loan Party in respect of any such sum due from it to the Administrative Agent or any Lender hereunder or under any
other Loan Document shall, notwithstanding any judgment in a currency (the “Judgment Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the
“Agreement Currency”), be discharged only to the extent that on the Business Day following receipt by the Administrative Agent or such Lender, as the case may be, of any sum adjudged to be so due in the Judgment Currency, the
Administrative Agent or such Lender, as the case may be, may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so purchased is less than the sum
originally due to the Administrative Agent or any Lender from any Borrower or any other Loan Party in the Agreement Currency, such Borrower and each other Loan Party agrees, as a separate obligation and notwithstanding any such judgment, to
indemnify the Administrative Agent or such Lender, as the case may be, against such loss. If the amount of the Agreement Currency so purchased is greater than the sum originally due to the Administrative Agent or any Lender in such currency, the
Administrative Agent or such Lender, as the case may be, agrees to return the amount of any excess to such Borrower or other Loan Party, as applicable (or to any other Person who may be entitled thereto under applicable law). 

  
 128 

 10.20 Patriot Act. Each Lender, each Collateral Agent, and the Administrative Agent (for
itself and not on behalf of any other party) hereby notifies the Borrower that, pursuant to the requirements of the Patriot Act, it is required to obtain, verify and record information that identifies the Borrower, which information includes the
names and addresses and other information that will allow such Lender or the Administrative Agent, as applicable, to identify the Borrower in accordance with the Patriot Act. The Borrower will, and will cause each of its Subsidiaries to, provide, to
the extent commercially reasonable or required by any Requirement of Law, such information and take such actions as are reasonably requested by the Administrative Agent or any Lender to assist the Administrative Agent and the Lenders in maintaining
compliance with the Patriot Act. 
 10.21 Acknowledgment of Prior Obligations and Continuation Thereof. The Borrower (a) consents to
the amendment and restatement of the Existing Credit Agreement by this Agreement; (b) acknowledges and agrees that (i) the “Obligations” (as defined in the Existing Credit Agreement) are owing to the Secured Parties (as defined in the
Existing Credit Agreement), (ii) the prior grant or grants of security interests in favor of any of the Administrative Agent or any other Secured Party (as defined in the Existing Credit Agreement) in its properties and assets, under each
“Loan Document” as defined in the Existing Credit Agreement (the “Original Loan Documents”) to which it is a party shall be in respect of the Obligations of such Person under this Agreement and the other Loan
Documents; (c) reaffirms (i) all of the Obligations (as defined in the Existing Credit Agreement) owing to the Administrative Agent and the other Secured Parties (as defined in the Existing Credit Agreement), and (ii) all prior or
concurrent grants of security interests in favor of any of the Administrative Agent or any other Secured Party (as defined in the Existing Credit Agreement) under each Original Loan Document and each Loan Document; and (d) agrees that, except
as expressly amended hereby or unless being amended and restated concurrently herewith, each of the Original Loan Documents to which it is a party is and shall remain in full force and effect. The Borrower hereby confirms and agrees that all
outstanding principal, interest and fees and other “Obligations” (as defined in the Existing Credit Agreement) under the Existing Credit Agreement immediately prior to the Closing Date shall, to the extent not paid on the Closing Date,
from and after the Closing Date, be, without duplication, Obligations owing and payable pursuant to this Agreement and the other Loan Documents as in effect from time to time, shall accrue interest thereon as specified in this Agreement, and shall
be secured by the Loan Documents. 
 10.22 No Novation. This Agreement does not extinguish the obligations for the payment of money
outstanding under the Existing Credit Agreement or discharge or release the obligations or the liens or priority of any mortgage, pledge, security agreement or any other security therefor. Nothing herein contained shall be construed as a
substitution or novation of the obligations outstanding under the Existing Credit Agreement, the other Original Loan Documents or instruments securing the same, which shall remain in full force and effect, except as modified hereby or by instruments
executed concurrently herewith. Nothing expressed or implied in this Agreement shall be construed as a release or other discharge of the Borrower or any Guarantor from any of its obligations or liabilities under the Existing Credit Agreement or any
of the security agreements, pledge agreements, mortgages, guaranties or other loan documents executed in connection therewith. The Borrower hereby (a) confirms and agrees that each Original Loan Document to which it is a party that is not being
amended and restated concurrently herewith is, and shall continue to be, in full force and effect and is hereby ratified and confirmed in all respects except that on and after the Closing Date, all references in any such Original Loan Document to
“the Credit Agreement,” “thereto,” “thereof,” “thereunder” or words of like import referring to the Existing Credit Agreement shall mean the Existing Credit Agreement as amended and restated by this Agreement;
and (b) confirms and agrees that to the extent that any such Original Loan Document purports to assign or pledge to any Secured Party a security interest in or lien on, any collateral as security for all or any portion of any of the Obligations
of the Borrower or any other Loan Party, as the case may be, from time to time existing in respect of the Existing Credit Agreement or the Original Loan Document, such pledge or assignment or grant of the security interest or lien is hereby ratified
and confirmed in all respects with respect to this Agreement and the Loan Documents. 

  
 129 

 [Remainder of page left blank intentionally] 

  
 130 

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

			
	BORROWER:
	
	 FITBIT, INC.,
 as the
Borrower

		
	By:		 /s/ William Zerella

	Name:		 William Zerella

	Title:		 Chief Financial Officer

 Signature page to Amended and Restated Credit Agreement 

 
			
	ADMINISTRATIVE AGENT:
	
	 SILICON VALLEY BANK,

as the Administrative Agent

		
	By:		 /s/ Jennie T. Bartlett

	Name:		Jennie T. Bartlett
	Title:		Vice President

 Signature Page to Amended and Restated Credit Agreement 

 
			
	LENDERS:
	
	SILICON VALLEY BANK,
	as Issuing Lender, Swingline Lender, a
	Collateral Agent and as a Lender
		
	By:		 /s/ Jennie T. Bartlett

	Name:		Jennie T. Bartlett
	Title:		Vice President

 Signature Page to Amended and Restated Credit Agreement 

 
			
	SUNTRUST BANK, as a Collateral Agent,
	a Syndication Agent, and as a Lender
		
	By:		 /s/ Chad Ramsey

	Name:		Chad Ramsey
	Title:		Director

 Signature Page to Amended and Restated Credit Agreement 

 
			
	MORGAN STANLEY SENIOR
	FUNDING, INC., as a Syndication Agent
		
	By:		 /s/ Lisa Hanson

	Name:		Lisa Hanson
	Title:		Authorized Signatory

 Signature Page to Amended and Restated Credit Agreement 

 
			
	MORGAN STANLEY BANK, N.A., as a
	Lender
		
	By:		 /s/ Lisa Hanson

	Name:		Lisa Hanson
	Title:		Authorized Signatory

 Signature Page to Amended and Restated Credit Agreement 

 
			
	COMERICA BANK, as a Lender
		
	By:		 /s/ Megan Bangert

	Name:		Megan Bangert
	Title:		VP

 Signature Page to Amended and Restated Credit Agreement 

 
			
	DEUTSCHE BANK AG, NEW YORK
	BRANCH, as a Lender
		
	By:		 /s/ Anca Trifan

	Name:		Anca Trifan
	Title:		Managing Director
		
	By:		 /s/ Dusan Lazarov

	Name:		Dusan Lazarov
	Title:		Director

 Signature Page to Amended and Restated Credit Agreement 

 
			
	CITY NATIONAL BANK, as a Lender
		
	By:		 /s/ Kevin J. Conway

	Name:		Kevin J. Conway
	Title:		Vice President

 Signature Page to Amended and Restated Credit Agreement 

 SCHEDULE 1.1A 

REVOLVING COMMITMENTS 

AND AGGREGATE EXPOSURE PERCENTAGES 

REVOLVING COMMITMENTS 
  

					
	Lender	 	Revolving Commitment	 	Revolving Percentage
	Silicon Valley Bank	 	$37,875,000	 	21.0416667%
	SunTrust Bank	 	$37,875,000	 	21.0416667%
	Morgan Stanley Bank, N.A.	 	$37,875,000	 	21.0416667%
	Comerica Bank	 	$30,000,000	 	16.6666667%
	Deutsche Bank AG, New York Branch	 	$25,000,000	 	13.8888889%
	City National Bank	 	$11,375,000	 	6.31944444%
	Total	 	$180,000,000	 	100%

 L/C COMMITMENTS 

(which is a sublimit of, and not in addition to, the Revolving Commitments) 

 

					
	Lender	 	L/C Commitments	 	L/C Percentage
	Silicon Valley Bank	 	$10,520,833.35	 	21.0416667%
	SunTrust Bank	 	$10,520,833.33	 	21.0416667%
	Morgan Stanley Bank, N.A.	 	$10,520,833.33	 	21.0416667%
	Comerica Bank	 	$8,333,333.33	 	16.6666667%
	Deutsche Bank AG, New York Branch	 	$6,944,444.44	 	13.8888889%
	City National Bank	 	$3,159,722.22	 	6.31944444%
	Total	 	$50,000,000	 	100%

 SWINGLINE COMMITMENT 

(which is a sublimit of, and not in addition to, the Revolving Commitments) 

 

					
	Lender	 	Swingline Commitment	 	Exposure Percentage
	Silicon Valley Bank	 	$25,000,000	 	100%
	SunTrust Bank	 	$0	 	0%

					
	Lender	 	Swingline Commitment	 	Exposure Percentage
	Morgan Stanley Bank, N.A.	 	$0	 	0%
	Comerica Bank	 	$0	 	0%
	Deutsche Bank AG, New York Branch	 	$0	 	0%
	City National Bank	 	$0	 	0%
	Total	 	$25,000,000	 	100%

  
 2 

 SCHEDULE 1.1B 

EXISTING LETTERS OF CREDIT 
  

									
	 L/C Number
	 	 Issuance Date
	 	 Expiration

Date
	 	 Beneficiary
	 	 Stated Amount

	SVBSF008327	 	09/25/2013	 	09/25/2014	 	405 Howard, LLC	 	$2,100,000.00
	SVBSF008561	 	11/18/2013	 	11/18/2014	 	Orrick Herrington & Sutcliffe LLP	 	$510,000.00
	SVBSF007344	 	03/26/2012	 	03/26/2015	 	 150 Spear Street,

LLC
	 	$314,043.36

 SCHEDULE E-1 

INVENTORY LOCATIONS 
  

			
	 Entity
	  	 Address Location

	FitBit, Inc.	  	 501 Airtech Parkway
 Plainfield, IN
46168

		
	FitBit, Inc.	  	 55 Standish Court
 Mississauga

Ontario, Canada L5R4A1

 SCHEDULE 4.4 

GOVERNMENTAL APPROVALS, CONSENTS, 

AUTHORIZATIONS, FILINGS AND NOTICES 

None. 

 SCHEDULE 4.5 

REQUIREMENTS OF LAW 
 None.

 SCHEDULE 4.15 

SUBSIDIARIES 
  

							
	 Entity
	  	 Name
	  	Jurisdiction	  	 Ownership

	Borrower	  	FitBit, Inc.	  	Delaware	  	N/A
	Subsidiary	  	FitBit Limited	  	United Kingdom	  	100% owned by FitBit, Inc.
	Subsidiary	  	FitBit International, LLC	  	Delaware	  	100% owned by FitBit, Inc.
	Subsidiary	  	FitBit Korea Ltd.	  	Korea	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit (Hong Kong) Limited	  	Hong Kong	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit (Australia) Pty Ltd	  	Australia	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit International Holdings	  	Ireland	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit Holdings	  	Ireland	  	100% owned by Fitbit International Holdings
	Subsidiary	  	Fitbit International Limited	  	Ireland	  	100% owned by Fitbit Holdings
	Subsidiary	  	Fitbit Bel	  	Belarus	  	 0.01% owned by FitBit, Inc.
 99.99% owned by
Fitbit Limited

  

	*	Formation of corporate entities in Japan and China are in progress. 

 SCHEDULE 4.17 

ENVIRONMENTAL MATTERS 

None. 

 SCHEDULE 4.19(a) 

FINANCING STATEMENTS AND OTHER FILINGS 
  

	1.	UCC Financing Statement naming FitBit, Inc., as “debtor” and the Administrative Agent as “secured party” to be filed with the Secretary of State of the State of Delaware. 

 

	2.	UCC Financing Statement naming FitBit International, LLC as “debtor” and the Administrative Agent as “secured party” to be filed with the Secretary of State of the State of Delaware.

  

	3.	Patent Security Agreement(s) in the United Stated Patent and Trademark Office against the U.S. patents and patent applications identified by the patent and patent applications numbers set forth on Schedule 1 to the
Patent Security Agreement. 

  

	4.	Trademark Security Agreement(s) in the USPTO against the U.S. registered trademarks and trademark applications identified by the registration and application numbers set forth on Schedule 1 to the Trademark Security
Agreement. 

 SCHEDULE 4.27 

CAPITALIZATION 
 Generated: 8/12/2014
3:32:31 PM PST 
 Fitbit, Inc. 

Fully Diluted Capitalization Table (Issued and Outstanding Shares) - Summary 

As of 8/12/2014 
  

													
	 	  	Issued and
Outstanding
Shares	 	  	CSE Shares*	 	  	Total Fully
Diluted Shares	 
	 COMMON STOCK (Authorized: 75,900,000)
	  				  				  			
	 Issued and Outstanding
	  	 	13,454,239	  	  	 	13,454,239	  	  	 	13,454,239	  
				
	 PREFERRED STOCK (Authorized: 48,176,304)
	  				  				  			
	 SERIES A Preferred Stock (Authorized: 3,400,000)
	  	 	3,400,000	  	  	 	3,400,000	  	  			
	 SERIES A-1 Preferred Stock (Authorized: 7,456,304)
	  	 	7,456,304	  	  	 	7,456,304	  	  			
	 SERIES B Preferred Stock (Authorized: 14,120,000)
	  	 	14,017,560	  	  	 	14,017,560	  	  			
	 SERIES C Preferred Stock (Authorized: 13,200,000)
	  	 	12,026,668	  	  	 	12,026,668	  	  			
	 SERIES D Preferred Stock (Authorized: 10,000,000)
	  	 	9,716,629	  	  	 	9,716,629	  	  	 	46,617,161	  
				
	 WARRANTS
	  				  				  			
	 SERIES B Preferred Stock
	  	 	92,664	  	  	 	92,664	  	  			
	 SERIES C Preferred Stock
	  	 	559,000	  	  	 	559,000	  	  	 	651,664	  
				
	 2007 SP (Reserved: 17,258,920)
	  				  				  			
	 Shares Issuable Under Plan:
	  				  				  			
	 Options and/or SPRs Issued and Outstanding
	  	 	13,769,985	  	  	 	13,769,985	  	  			
	 Options and/or SPRs Committed for Issuance
	  	 	0	  	  	 	0	  	  			
	 Shares Remaining for Issuance Under Plan
	  	 	2,274,696	  	  	 	2,274,696	  	  	 	16,044,681	  
				
	 Reserved in Plan
	  	 	17,258,920	  	  	 	17,258,920	  	  			
	 Options and/or SPRs Exercised
	  	 	1,214,239	  	  	 	1,214,239	  	  			
		  				  				  	  
	  
	 
	 Total shares issued and outstanding, including shares committed for issuance and employee reserves, assuming conversion of all
convertible securities and exercise of all outstanding options
										 	76,767,745	  
		  				  				  	  
	  
	 

 Fully-Diluted Ownership 
  

									
	 	  	Number of
Shares	 	  	%	 
	 Common Stock
	  	 	13,454,239	  	  	 	17.53	% 
	 SERIES A Preferred Stock
	  	 	3,400,000	  	  	 	4.43	% 
	 SERIES A-1 Preferred Stock
	  	 	7,456,304	  	  	 	9.71	% 
	 SERIES B Preferred Stock
	  	 	14,017,560	  	  	 	18.26	% 
	 SERIES C Preferred Stock
	  	 	12,026,668	  	  	 	15.67	% 
	 SERIES D Preferred Stock
	  	 	9,716,629	  	  	 	12.66	% 
	 SERIES B Preferred Stock Warrants
	  	 	92,664	  	  	 	0.12	% 
	 SERIES C Preferred Stock Warrants
	  	 	559,000	  	  	 	0.73	% 
	 Options and/or SPRs issued and outstanding under plan - 2007 SP
	  	 	13,769,985	  	  	 	17.94	% 
	 Committed for Issuance - 2007 SP
	  				  	 	0.00	% 
	 Unissued Reserve - 2007 SP
	  	 	2,274,696	  	  	 	2.96	% 
		  	  
	  
	 	  	  
	  
	 
	 Total
		 	76,767,745	  		 	100	% 
		  	  
	  
	 	  	  
	  
	 

 SCHEDULE 5.3 
  

	1.	Fitbit International Holdings 

	2.	Fitbit (Australia) Pty Ltd. 

 SCHEDULE 7.2(b) 

EXISTING INDEBTEDNESS 

None. 

 SCHEDULE 7.3(b) 

EXISTING LIENS 
 None. 

 SCHEDULE 7.8(a) 

EXISTING INVESTMENTS 
  

			
	 Investment
	 	 Amount Invested

	Equity Capitalization of Fitbit Limited (UK sub)	 	$100.00 GBP ($166.00 USD)
		
	Equity Capitalization of Fitbit International, LLC	 	$8,100,000 USD
		
	Equity Capitalization of Fitbit Korea Ltd.	 	$94,122.23 USD
		
	Equity Capitalization of Fitbit (Hong Kong) Limited	 	$1,000 HKD ($128.76 USD)
		
	Equity Capitalization of Fitbit International Holdings (Ireland)	 	$8,001,000 USD
		
	Equity Capitalization of Fitbit Holdings (Ireland)	 	$8,001,000 USD
		
	Equity Capitalization of Fitbit International Limited (Ireland)	 	€2 EUR ($2.72 USD)
		
	Equity Capitalization of Fitbit Bel	 	 BYR 103,000 ($10,000 USD)

Consisting of:
 Fitbit, Inc. - $1.00
USD
 Fitbit Limited - $9,999.00 USD

		
	Equity Capitalization of Fitbit (Australia) Pty Ltd.	 	$100 AUD ($9,257 USD)

 EXHIBIT A 

FORM OF AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT 

(Please see attached form) 

  
 Exhibit A 

  

 
 AMENDED
AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT 

Dated as of August 13, 2014 

made by 
 FITBIT, INC. 

and the other Grantors referred to herein, 

in favor of 
 SILICON VALLEY
BANK, 
 as Administrative Agent 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 SECTION 1.
	  	 DEFINED TERMS
	  	 	2	  
	 1.1
	  	 Definitions
	  	 	2	  
	 1.2
	  	 Other Definitional Provisions
	  	 	6	  
			
	 SECTION 2.
	  	 GUARANTEE
	  	 	6	  
	 2.1
	  	 Guarantee
	  	 	6	  
	 2.2
	  	 Right of Contribution
	  	 	7	  
	 2.3
	  	 No Subrogation
	  	 	7	  
	 2.4
	  	 Amendments, etc. with respect to the Secured Obligations
	  	 	8	  
	 2.5
	  	 Guarantee Absolute and Unconditional; Guarantor Waivers; Guarantor Consents
	  	 	8	  
	 2.6
	  	 Reinstatement
	  	 	10	  
	 2.7
	  	 Payments
	  	 	10	  
	 2.8
	  	Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to
honor all of its obligations under this Agreement in respect of Secured Obligations under Specified Swap Agreements (provided that, each Qualified ECP Guarantor shall only be liable under this Section 2.8 for the maximum amount of such liability
that can be hereby incurred without rendering its obligations under this Section 2.8 or otherwise under this Agreement, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The
obligations of each Qualified ECP Guarantor under this Section 2.8 shall remain in full force and effect until the Secured Obligations have been paid in full in cash and all Commitments have terminated. Each Qualified ECP Guarantor intends that this
Section 2.8 constitute, and this Section 2.8 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange
Act.”	  	 	10	  
			
	 SECTION 3.
	  	 GRANT OF SECURITY INTEREST
	  	 	11	  
	 3.1
	  	 Grant of Security Interests
	  	 	11	  
	 3.2
	  	 Grantors Remains Liable
	  	 	12	  
	 3.3
	  	 Perfection and Priority
	  	 	12	  
			
	 SECTION 4.
	  	 REPRESENTATIONS AND WARRANTIES
	  	 	14	  
	 4.1
	  	 Title; No Other Liens
	  	 	14	  
	 4.2
	  	 Perfected Liens
	  	 	14	  
	 4.3
	  	 Jurisdiction of Organization; Chief Executive Office and Locations of Books
	  	 	14	  
	 4.4
	  	 Inventory and Equipment
	  	 	14	  
	 4.5
	  	 Farm Products
	  	 	14	  
	 4.6
	  	 Pledged Collateral
	  	 	14	  
	 4.7
	  	 Investment Accounts
	  	 	15	  
	 4.8
	  	 Receivables
	  	 	15	  
	 4.9
	  	 Intellectual Property
	  	 	16	  
	 4.10
	  	 Instruments
	  	 	16	  
	 4.11
	  	 Letter of Credit Rights
	  	 	16	  
	 4.12
	  	 Commercial Tort Claims
	  	 	16	  
			
	 SECTION 5.
	  	 COVENANTS
	  	 	17	  
	 5.1
	  	 Delivery of Instruments, Certificated Securities and Chattel Paper
	  	 	17	  

  
 i 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 5.2
	  	 Maintenance of Insurance
	  	 	17	  
	 5.3
	  	 Maintenance of Perfected Security Interest; Further Documentation
	  	 	17	  
	 5.4
	  	 Changes in Locations, Name, Etc.
	  	 	18	  
	 5.5
	  	 Notices
	  	 	18	  
	 5.6
	  	 Instruments; Investment Property
	  	 	18	  
	 5.7
	  	 Securities Accounts; Deposit Accounts
	  	 	19	  
	 5.8
	  	 Intellectual Property
	  	 	20	  
	 5.9
	  	 Receivables
	  	 	21	  
	 5.10
	  	 Defense of Collateral
	  	 	21	  
	 5.11
	  	 Preservation of Collateral
	  	 	21	  
	 5.12
	  	 Compliance with Laws, Etc.
	  	 	21	  
	 5.13
	  	 Location of Books and Chief Executive Office
	  	 	21	  
	 5.14
	  	 Location of Collateral
	  	 	21	  
	 5.15
	  	 Maintenance of Records
	  	 	21	  
	 5.16
	  	 Disposition of Collateral
	  	 	22	  
	 5.17
	  	 Liens
	  	 	22	  
	 5.18
	  	 Expenses
	  	 	22	  
	 5.19
	  	 Leased Premises; Collateral Held by Warehouseman, Bailee, Etc.
	  	 	22	  
	 5.20
	  	 Chattel Paper
	  	 	22	  
	 5.21
	  	 Commercial Tort Claims
	  	 	22	  
	 5.22
	  	 Letter-of-Credit Rights
	  	 	22	  
	 5.23
	  	 Shareholder Agreements and Other Agreements
	  	 	22	  
			
	 SECTION 6.
	  	 REMEDIAL PROVISIONS
	  	 	23	  
	 6.1
	  	 Certain Matters Relating to Receivables
	  	 	23	  
	 6.2
	  	 Communications with Obligors; Grantors Remain Liable
	  	 	23	  
	 6.3
	  	 Investment Property
	  	 	23	  
	 6.4
	  	 Proceeds to be Turned Over To Administrative Agent
	  	 	24	  
	 6.5
	  	 Application of Proceeds
	  	 	25	  
	 6.6
	  	 Code and Other Remedies
	  	 	25	  
	 6.7
	  	 Pledged Stock
	  	 	26	  
	 6.8
	  	 [Intentionally Omitted]
	  	 	27	  
	 6.9
	  	 Deficiency
	  	 	27	  
			
	 SECTION 7.
	  	 THE ADMINISTRATIVE AGENT
	  	 	27	  
	 7.1
	  	 Administrative Agent’s Appointment as Attorney-in-Fact, etc.
	  	 	27	  
	 7.2
	  	 Duty of Administrative Agent
	  	 	28	  
	 7.3
	  	 Authority of Administrative Agent
	  	 	29	  
			
	 SECTION 8.
	  	 MISCELLANEOUS
	  	 	29	  
	 8.1
	  	 Amendments in Writing
	  	 	29	  
	 8.2
	  	 Notices
	  	 	29	  
	 8.3
	  	 No Waiver by Course of Conduct; Cumulative Remedies
	  	 	29	  
	 8.4
	  	 Enforcement Expenses; Indemnification
	  	 	29	  
	 8.5
	  	 Successors and Assigns
	  	 	30	  
	 8.6
	  	 Set Off
	  	 	30	  
	 8.7
	  	 Counterparts
	  	 	30	  
	 8.8
	  	 Severability
	  	 	30	  
	 8.9
	  	 Section Headings
	  	 	30	  

  
 ii 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	  	 	  	Page	 
			
	 8.10
	  	 Integration
	  	 	30	  
	 8.11
	  	 GOVERNING LAW
	  	 	31	  
	 8.12
	  	 Submission to Jurisdiction; Waivers
	  	 	31	  
	 8.13
	  	 Excluded Assets
	  	 	31	  
	 8.14
	  	 Intellectual Property License
	  	 	31	  
	 8.15
	  	 Acknowledgements
	  	 	32	  
	 8.16
	  	 Additional Grantors
	  	 	32	  
	 8.17
	  	 Releases
	  	 	32	  
	 8.18
	  	 WAIVER OF JURY TRIAL
	  	 	33	  
	 8.19
	  	 Amendment and Restatement of Existing Guarantee Agreement
	  	 	33	  
	 8.20
	  	 Intercreditor Agreement
	  	 	33	  

  
 iii 

 TABLE OF CONTENTS 

(continued) 
  

			
	SCHEDULES		
		
	Schedule 1		Notice Addresses
	Schedule 2		Investment Property
	Schedule 3		Perfection Matters
	Schedule 4		Jurisdictions of Organization and Chief Executive Offices, etc.
	Schedule 5		Equipment and Inventory Locations
	Schedule 6		Intellectual Property
	Schedule 7		Letter of Credit Rights
	Schedule 8		Commercial Tort Claims
		
	ANNEXES		
		
	Annex 1		Form of Assumption Agreement
	Annex 2		Form of Pledge Supplement
	Annex 3		Form of Copyright Security Agreement
	Annex 4		Form of Trademark Security Agreement
	Annex 5		Form of Patent Security Agreement

  
 iv 

 AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT 

This AMENDED AND RESTATED GUARANTEE AND COLLATERAL AGREEMENT (this “Agreement”), dated as of August 13, 2014, is
made by FITBIT, INC., a Delaware corporation (the “Borrower”), each other Person listed on the signature pages hereto as a “Grantor”, and each other entity that may become a party hereto as provided herein (the
Borrower and each such Persons or entities, each a “Grantor” and, collectively, the “Grantors”), in favor of SILICON VALLEY BANK (“SVB”), as administrative agent (together with
its successors, in such capacity, the “Administrative Agent”) for the banks and other financial institutions or entities (each a “Lender” and, collectively, the “Lenders”) from
time to time parties to that certain Amended and Restated Credit Agreement, dated as of the date hereof (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the
“Credit Agreement”), among the (a) Borrower, (b) the Lenders party thereto, (c) the Administrative Agent, SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in
such capacities, the “Collateral Agents”), (d) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (e) SVB, SunTrust Robinson
Humphrey, Inc. and Morgan Stanley, as co-lead arrangers and joint bookrunners. This Agreement amends and restates in its entirety, but shall not constitute a novation, waiver, release or modification of any rights, claims or remedies of the
Administrative Agent under the Guarantee and Collateral Agreement, dated as of February 27, 2014 (as amended, supplemented, amended and restated or otherwise modified from time to time prior to the date hereof, the “Existing
Guarantee Agreement”), by and among the Grantors and the Administrative Agent, and continues the security interests granted thereunder to the extent set forth herein. 

INTRODUCTORY STATEMENTS 

WHEREAS, the Borrower, the Administrative Agent, and certain other parties are party to that certain Credit Agreement, dated as of
February 27, 2014 (as the same has been amended, restated, supplemented or otherwise modified from time to time prior to the Closing Date, the “Existing Credit Agreement”); 

WHEREAS, the Borrower desires to amend and restate the Existing Credit Agreement to refinance certain Indebtedness, as well to provide as for
working capital financing and letter of credit facilities, in each case as further provided in the Credit Agreement; 
 WHEREAS, the
Borrower and any other party hereto as a “Grantor” are or will be part of an affiliated group of companies that includes each other Grantor; 

WHEREAS, the proceeds of the extensions of credit under the Credit Agreement will be used in part to enable the Borrower to make valuable
transfers to one or more of the other Grantors (if any) in connection with the operation of their respective business; 
 WHEREAS, certain
of the Qualified Counterparties may enter into Specified Swap Agreements with the Borrower; 
 WHEREAS, the Borrower and the other Grantors
(if any) are engaged in related businesses, and each Grantor derives substantial direct and indirect benefit from the extensions of credit under the Credit Agreement and from the Specified Swap Agreements; and 

WHEREAS, it is a condition precedent to amendment and restatement of the Existing Credit Agreement and the Closing Date that the Grantors
shall have executed and delivered this Agreement in favor of the Administrative Agent for the ratable benefit of the Secured Parties. 

  
 1 

 NOW, THEREFORE, in consideration of the above premises, the parties hereto hereby agree as
follows: 
 SECTION 1. DEFINED TERMS. 

1.1 Definitions. 
 (a)
Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the respective meanings given to such terms in the Credit Agreement, and the following terms are used herein as defined in the UCC: Account,
Certificated Security, Chattel Paper, Commercial Tort Claim, Commodity Account, Document, Equipment, Farm Products, Fixtures, General Intangible, Goods, Instrument, Inventory, Letter-of-Credit Rights, Money, Securities Account and Supporting
Obligation. 
 (b) The following terms shall have the following meanings: 

“Agreement”: as defined in the preamble hereto. 

“Books”: all books, records and other written, electronic or other documentation in whatever form maintained now or
hereafter by or for any Grantor in connection with the ownership of its assets or the conduct of its business or evidencing or containing information relating to the Collateral, including: (a) ledgers; (b) records indicating, summarizing,
or evidencing such Grantor’s assets (including Inventory and Rights to Payment), business operations or financial condition; (c) computer programs and software; (d) computer discs, tapes, files, manuals, spreadsheets;
(e) computer printouts and output of whatever kind; (f) any other computer prepared or electronically stored, collected or reported information and equipment of any kind; and (g) any and all other rights now or hereafter arising out
of any contract or agreement between such Grantor and any service bureau, computer or data processing company or other Person charged with preparing or maintaining any of such Grantor’s books or records or with credit reporting, including with
regard to any of such Grantor’s Accounts. 
 “Borrower”: as defined in the preamble hereto. 

“Collateral”: as defined in Section 3.1. 

“Collateral Account”: any collateral account established by the Administrative Agent as provided in
Section 6.4 of this Agreement or Section 6.3 of the Credit Agreement. 
 “Commodity Exchange
Act”: the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. 

“Copyright License”: any written agreement which (a) names a Grantor as licensor or licensee (including those
listed on Schedule 6), or (b) grants any right under any Copyright to a Grantor, including any rights to manufacture, distribute, exploit and sell materials derived from any Copyright. 

“Copyrights”: (a) all copyrights arising under the laws of the United States, any other country or any political
subdivision thereof, together with the underlying works of authorship (including titles), whether registered or unregistered and whether published or unpublished (including those listed on Schedule 6), all computer programs, computer
databases, computer program flow diagrams, source codes, object codes and all tangible property embodying or incorporating any copyrights, all registrations and recordings thereof, and all applications in connection therewith, including, without
limitation, all registrations, recordings and applications in the United States Copyright Office, in each case owned by a Grantor, and (b) the right to obtain any renewals thereof. 

  
 2 

 “Deposit Account”: as defined in the Uniform Commercial Code of any
applicable jurisdiction and, in any event, including any demand, time, savings, passbook or like account maintained with a depositary institution. 

“Discharge of Obligations”: as defined in the Credit Agreement. 

“Employment Wage/Benefit Payment Deposit Account”: deposit accounts exclusively used for payroll, payroll taxes and
other employee wage and benefit payments to or for the benefit of any Grantor’s employees. 
 “Excluded
Assets”: collectively, 
 (a) Capital Stock of any Excluded Foreign Subsidiary (other than (i) voting Capital Stock of any
Excluded Foreign Subsidiary representing 66% of the total outstanding voting Capital Stock of any Excluded Foreign Subsidiary and (ii) 100% of the non-voting Capital Stock of any Excluded Foreign Subsidiary); 

(b) any intent-to-use trademarks at all times prior to the first use thereof, whether by the actual use thereof in commerce, the recording of
a statement of use with the United States Patent and Trademark Office or otherwise; 
 (c) Capital Stock of FitBit International, LLC (other
than (i) voting Capital Stock of FitBit International, LLC representing 66% of the total outstanding voting Capital Stock of FitBit International, LLC and (ii) 100% of the non-voting Capital Stock of FitBit International, LLC) so long as
FitBit International, LLC is a disregarded entity for United States tax purposes and substantially all of its assets consist of Investments in Foreign Subsidiaries; 

(d) rights held under a license or other contract that are not assignable by their terms without the consent of the licensor or other party
thereof (but only to the extent such transfer is unenforceable under applicable law); 
 (e) any interest of a Grantor as a lessee under an
Equipment lease if such Loan Party is prohibited by the terms of such lease from granting a security interest in such lease or under which such an assignment or Lien would cause a default to occur under such lease; provided, however, that upon
termination of such prohibition, such interest shall immediately become Collateral without any action by such Grantor or the Administrative Agent; and 

(f) any interest of a Grantor under any Governmental Approval if granting a security interest or Lien thereon is prohibited under applicable
law or would expose such Grantor to the risk of termination, revocation or any similar result with respect to such Governmental Approval under applicable law; 

provided, however, that (i) any Proceeds, substitutions or replacements of any Excluded Assets shall not be Excluded Assets (unless such
Proceeds, substitutions or replacements are otherwise, in and of themselves, Excluded Assets); (ii) assets that satisfy clause (d), clause (e) or clause (f) above shall only constitute “Excluded Assets”
if under the terms of such contract, lease, permit, Governmental Approval, license, or license agreement, or applicable law with respect thereto, the grant of a security interest or lien therein is prohibited as a matter of law or under the terms of
such contract, lease, permit, Governmental Approval, license, or license agreement and such prohibition or restriction has not been waived or the consent of the other party to such contract, lease, permit, Governmental Approval, license, or license
agreement has not been obtained (provided, that, the foregoing exclusions of this clause (ii) shall in no way be construed (1) to apply to the extent that any described prohibition or restriction is ineffective under
Section 9-406, 9-407, 9-408, or 

  
 3 

 
9-409 of the UCC or other applicable law, or (2) to apply to the extent that any consent or waiver has been obtained that would permit Agent’s security interest or lien to attach
notwithstanding the prohibition or restriction on the pledge of such contract, lease, permit, Governmental Approval, license, or license agreement); and provided that the foregoing assets shall cease to constitute Excluded Assets and the security
interest shall attach immediately at such time as such restriction is not effective or applicable, or such prohibition, breach, default or termination is no longer applicable or is waived, and to the extent severable, shall attach immediately to any
portion of such assets (which assets shall not constitute Excluded Assets) that does not result in such consequences; (iii) the foregoing provisions of this definition of Excluded Assets to the contrary notwithstanding, “Excluded
Assets” shall not include any asset or property that constitutes “Collateral” (as defined in the Cash Flow Credit Agreement); and (iv) the provisions of this definition of Excluded Assets shall in no way be construed to limit,
impair, or otherwise affect any of the Administrative Agent’s or any other Secured Party’s continuing security interests in and liens upon any rights or interests of any Grantor in or to (1) monies due or to become due under or in
connection with any described Excluded Assets, or (2) any proceeds from the sale, license, lease, or other dispositions of any such Excluded Assets. 

“Excluded Swap Obligation”: with respect to any Grantor, any obligation to pay or perform under any Specified Swap
Agreement, if and to the extent that all or a portion of the guarantee of such Grantor of, or the grant by such Grantor of a security interest to secure, such obligations under a Specified Swap Agreement (or any guarantee thereof) is or becomes
illegal under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Grantor’s failure for any reason to
constitute an “eligible contract participant” as defined in the Commodity Exchange Act and the regulations thereunder at the time the guarantee of such Grantor or the grant of such security interest becomes effective with respect to such
obligations under a Specified Swap Agreement or such guarantee. If any obligation to pay or perform under any Specified Swap Agreement arises under a master agreement governing more than one swap, such exclusion shall apply only to the portion of
such obligations under a Specified Swap Agreement that is attributable to swaps for which such guarantee or security interest is or becomes illegal. 

“Grantor”: as defined in the preamble hereto. 

“Guarantor”: as defined in Section 2.1(a). 

“Intellectual Property Security Agreement”: each intellectual property security agreement executed and delivered by
the applicable Grantors, substantially in the form of Annex 3, Annex 4 or Annex 5, as applicable. 

“Investment Account”: any of a Securities Account, a Commodity Account or a Deposit Account. “Investment
Property”: the collective reference to (a) all “investment property” as such term is defined in Section 9-102(a)(49) of the UCC (other than any voting Capital Stock or other ownership interests of an Excluded Foreign
Subsidiary excluded from the definition of “Pledged Stock”), and (b) whether or not constituting “investment property” as so defined, all Pledged Notes and all Pledged Collateral. 

“Issuer”: with respect to any Investment Property, the issuer of such Investment Property. 

“Patent License”: any written agreement which (a) names a Grantor as licensor or licensee and (b) grants to
such Grantor any right under a Patent, including the right to manufacture, use or sell any invention covered in whole or in part by such Patent, including any such agreements referred to on Schedule 6. 

“Patents”: (a) all letters patent of the United States, any other country or any political subdivision thereof,
all reissues and extensions thereof and all goodwill associated therewith, including, without 

  
 4 

 
limitation, any of the foregoing referred to on Schedule 6, (b) all applications for letters patent of the United States or any other country and all divisions, continuations and
continuations-in-part thereof, including, without limitation, any of the foregoing referred to on Schedule 6, and (c) all rights to obtain any reissues or extensions of the foregoing, in each case owned by a Grantor. 

“Pledged Collateral”: (a) any and all Pledged Stock; (b) all other Investment Property of any Grantor;
(c) all warrants, options or other rights entitling any Grantor to acquire any interest in Capital Stock or other securities of the direct or indirect Subsidiaries of such Grantor or of any other Person; (d) all Instruments; (e) all
securities, property, interest, dividends and other payments and distributions issued as an addition to, in redemption of, in renewal or exchange for, in substitution or upon conversion of, or otherwise on account of, any of the foregoing;
(f) all certificates and instruments now or hereafter representing or evidencing any of the foregoing; (g) all rights, interests and claims with respect to the foregoing, including under any and all related agreements, instruments and
other documents; and (h) all cash and non-cash proceeds of any of the foregoing, in each case whether presently existing or owned or hereafter arising or acquired and wherever located, and as from time to time received or receivable by, or
otherwise paid or distributed to or acquired by, any Grantor. 
 “Pledged Collateral Agreements”: as defined in
Section 5.22. 
 “Pledged Notes”: all promissory notes listed on Schedule 2 and all other
promissory notes issued to or held by any Grantor. 
 “Pledged Stock”: all of the issued and outstanding shares of
Capital Stock, whether certificated or uncertificated, of any Grantor’s direct Subsidiaries now or hereafter owned by any such Grantor and including the Capital Stock listed on Schedule 2 hereof (as amended or supplemented from time to
time); provided that in no event shall Pledged Stock include any Excluded Assets. 
 “Proceeds”: all
“proceeds” as such term is defined in Section 9-102(a)(64) of the UCC and, in any event, shall include, without limitation, all dividends or other income from any Investment Property constituting Collateral and all collections thereon
or distributions or payments with respect thereto. 
 “Qualified ECP Guarantor”: in respect of any Specified Swap
Obligation, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant guaranty or grant of the relevant Lien becomes effective with respect to such Specified Swap Obligation or constitutes an “eligible contract
participant” under the Commodity Exchange Act or any regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section
1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 “Receivable”: any right to payment for goods sold or leased or
for services rendered, whether or not such right is evidenced by an Instrument or Chattel Paper and whether or not it has been earned by performance (including any Account). 

“Rights to Payment”: any and all of any Grantor’s Accounts and any and all of any Grantor’s rights and
claims to the payment or receipt of money or other forms of consideration of any kind in, to and under or with respect to its Chattel Paper, Documents, General Intangibles, Instruments, Investment Property, Letter- of-Credit Rights, Proceeds and
Supporting Obligations. 
 “Secured Obligations”: collectively, the “Obligations”, as such term is defined
in the Credit Agreement; provided, however, that “Secured Obligations” of a particular Grantor shall not include any Excluded Swap Obligation of such Grantor. 

  
 5 

 “Secured Parties”: the Administrative Agent, each Agent, the Issuing
Lender, the Swing Line Lender, each Lender, each Bank Services Provider, and any Qualified Counterparty. 

“Software”: (a) all computer programs, including source code and object code versions, (b) all data,
databases and compilations of data, whether machine readable or otherwise, and (c) all documentation, training materials and configurations related to any of the foregoing. 

“Trademark License”: any written agreement which (a) names a Grantor as licensor or licensee and (b) grants
to such Grantor any right to use any Trademark, including any such agreements referred to on Schedule 6. 

“Trademarks”: (a) all trademarks, trade names, corporate names, company names, business names, fictitious
business names, trade styles, service marks, logos, Internet domain names and other source or business identifiers, and all goodwill associated therewith, now existing or hereafter adopted or acquired, all registrations and recordings thereof, and
all applications in connection therewith, whether 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, or otherwise,
and all common-law rights related thereto, including, without limitation, any of the foregoing referred to on Schedule 6, and (b) the right to obtain all renewals thereof in each case owned by a Grantor. 

1.2 Other Definitional Provisions. The rules of interpretation set forth in Section 1.2 of the Credit Agreement are by this
reference incorporated herein, mutatis mutandis, as if set forth herein in full. 
 SECTION 2. GUARANTEE. 

2.1 Guarantee. 
 (a) The
Borrower and each other Grantor that executes this Agreement as of the date hereof, together with each Subsidiary of the Borrower or any such Grantor who accedes to this Agreement as a Grantor after the date hereof pursuant to
Section 6.12 of the Credit Agreement (each a “Guarantor” and, collectively, the “Guarantors”), hereby, jointly and severally, unconditionally and irrevocably, guarantees to the
Administrative Agent, for the ratable benefit of the Secured Parties and their respective successors, indorsees, transferees and assigns, the prompt and complete payment and performance by the Borrower and the other Loan Parties when due (whether at
the stated maturity, by acceleration or otherwise) of the Secured Obligations. In furtherance of the foregoing, and without limiting the generality thereof, each Guarantor agrees as follows: 

(i) each Guarantor’s liability hereunder shall be the immediate, direct, and primary obligation of such Guarantor and shall not be
contingent upon the Administrative Agent’s or any Secured Party’s exercise or enforcement of any remedy it or they may have against the Borrower, any other Guarantor, any other Person, or all or any portion of the Collateral; and 

(ii) the Administrative Agent may enforce this guaranty notwithstanding the existence of any dispute between any of the Secured Parties and
the Borrower or any other Guarantor with respect to the existence of any Event of Default. 
 (b) Anything herein or in any other Loan
Document to the contrary notwithstanding, the maximum liability of each Guarantor hereunder and under the other Loan Documents shall in no event exceed the amount which can be guaranteed by such Guarantor under applicable federal and state laws
relating to the insolvency of debtors (after giving effect to the right of contribution established in Section 2.2). 

  
 6 

 (c) Each Guarantor agrees that the Secured Obligations may at any time and from time to time
exceed the amount of the liability of such Guarantor hereunder without impairing the guarantee contained in this Section 2 or affecting the rights and remedies of the Administrative Agent or any other Secured Party hereunder. 

(d) The guarantee contained in this Section 2 shall remain in full force and effect until the Discharge of Obligations,
notwithstanding that from time to time during the term of the Credit Agreement the outstanding amount of the Secured Obligations may be zero. 

(e) No payment made by the Borrower, any Guarantor, any other guarantor or any other Person or received or collected by the Administrative
Agent or any other Secured Party from the Borrower, any Guarantor, any other guarantor or any other Person by virtue of any action or proceeding or any setoff or appropriation or application at any time or from time to time in reduction of or in
payment of the Secured Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any Guarantor hereunder which shall, notwithstanding any such payment (other than any payment made by such Guarantor in respect of the
Secured Obligations or any payment received or collected from such Guarantor in respect of the Secured Obligations), remain liable for the Secured Obligations up to the maximum liability of such Guarantor hereunder until the Discharge of
Obligations. 
 (f) Any term or provision of this Agreement or any other Loan Document to the contrary notwithstanding, the maximum
aggregate amount for which any Guarantor shall be liable hereunder shall not exceed the maximum amount for which such Guarantor can be liable without rendering this Agreement or any other Loan Document, as it relates to such Guarantor, subject to
avoidance under applicable Requirements of Law relating to fraudulent conveyance or fraudulent transfer (including the Uniform Fraudulent Conveyance Act, the Uniform Fraudulent Transfer Act and Section 548 of Title 11 of the United States Code
or any applicable provisions of comparable Requirements of Law) (collectively, “Fraudulent Transfer Laws”). Any analysis of the provisions of this Agreement for purposes of Fraudulent Transfer Laws shall take into account the
right of contribution established in Section 2.2, and, for purposes of such analysis, give effect to any discharge of intercompany debt as a result of any payment made under the Agreement. 

2.2 Right of Contribution. If in connection with any payment made by any Guarantor hereunder any rights of contribution arise in favor
of such Guarantor against one or more other Guarantors, such rights of contribution shall be subject to the terms and conditions of Section 2.3. The provisions of this Section 2.2 shall in no respect limit the obligations and
liabilities of any Guarantor to the Administrative Agent and the other Secured Parties, and each Guarantor shall remain liable to the Administrative Agent and the other Secured Parties for the full amount guaranteed by such Guarantor hereunder. 

2.3 No Subrogation. Notwithstanding any payment made by any Guarantor hereunder or any setoff or application of funds of any Guarantor
by the Administrative Agent or any other Secured Party, no Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any other Secured Party against the Borrower or any other Guarantor or any Collateral or
guarantee or right of offset held by the Administrative Agent or any other Secured Party for the payment of the Secured Obligations, nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Borrower or any other
Guarantor in respect of payments made by such Guarantor hereunder, in each case, until the Discharge of Obligations. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time prior to the Discharge of
Obligations, such amount shall be held by such Guarantor in trust for the Administrative Agent and the other Secured Parties, shall be segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over
to the Administrative Agent in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Administrative Agent, if required), to be applied in such order as set forth in Section 6.5 hereof irrespective of the occurrence
or the continuance of any Event of Default. 

  
 7 

 2.4 Amendments, etc. with respect to the Secured Obligations. Each Guarantor shall remain
obligated hereunder notwithstanding that, without any reservation of rights against any Guarantor and without notice to or further assent by any Guarantor, any demand for payment of any of the Secured Obligations made by the Administrative Agent or
any other Secured Party may be rescinded by the Administrative Agent or such Secured Party and any of the Secured Obligations continued, and the Secured Obligations, or the liability of any other Person upon or for any part thereof, or any
collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the Administrative
Agent or any other Secured Party, and the Credit Agreement, the other Loan Documents, the Specified Swap Agreements and any other documents executed and delivered in connection therewith may be amended, modified, supplemented or terminated, in whole
or in part, as the Administrative Agent (or the Required Lenders or all of the Lenders, as the case may be) may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent
or any other Secured Party for the payment of the Secured Obligations may be sold, exchanged, waived, surrendered or released. Neither the Administrative Agent nor any other Secured Party shall have any obligation to protect, secure, perfect or
insure any Lien at any time held by it as security for the Secured Obligations or for the guarantee contained in this Section 2 or any property subject thereto. 

2.5 Guarantee Absolute and Unconditional; Guarantor Waivers; Guarantor Consents. Each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Secured Obligations and notice of or proof of reliance by the Administrative Agent or any other Secured Party upon the guarantee contained in this Section 2 or acceptance of the guarantee
contained in this Section 2; the Secured Obligations, and any of them, shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived in reliance upon the guarantee contained in this
Section 2; and all dealings between the Borrower and any of the Guarantors on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, likewise shall be conclusively presumed to have been had or consummated
in reliance upon the guarantee contained in this Section 2. Each Guarantor further waives: 
 (a) diligence, presentment, protest,
demand for payment and notice of default or nonpayment to or upon the Borrower or any of the other Guarantors with respect to the Secured Obligations; 

(b) any right to require any Secured Party to marshal assets in favor of the Borrower, such Guarantor, any other Guarantor or any other
Person, to proceed against the Borrower, any other Guarantor or any other Person, to proceed against or exhaust any of the Collateral, to give notice of the terms, time and place of any public or private sale of personal property security
constituting the Collateral or other collateral for the Secured Obligations or to comply with any other provisions of Section 9-611 of the UCC (or any equivalent provision of any other applicable law) or to pursue any other right, remedy, power
or privilege of any Secured Party whatsoever; 
 (c) the defense of the statute of limitations in any action hereunder or for the collection
or performance of the Secured Obligations; 
 (d) any defense arising by reason of any lack of corporate or other authority or any other
defense of the Borrower, such Guarantor or any other Person; 
 (e) any defense based upon the Administrative Agent’s or any Secured
Party’s errors or omissions in the administration of the Secured Obligations; 
 (f) any rights to set-offs and counterclaims; 

  
 8 

 (g) any defense based upon an election of remedies (including, if available, an election to
proceed by nonjudicial foreclosure) which destroys or impairs the subrogation rights of such Guarantor or the right of such Guarantor to proceed against the Borrower or any other obligor of the Secured Obligations for reimbursement; and 

(h) without limiting the generality of the foregoing, to the fullest extent permitted by law, any defenses or benefits that may be derived
from or afforded by applicable law that limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms of this Agreement. 

Each Guarantor understands and agrees that the guarantee contained in this Section 2 shall be construed as a continuing, absolute
and unconditional guarantee of payment without regard to (i) the validity or enforceability of the Credit Agreement or any other Loan Document, any of the Secured Obligations or any other collateral security therefor or guarantee or right of
offset with respect thereto at any time or from time to time held by the Administrative Agent or any other Secured Party, (ii) any defense, setoff or counterclaim (other than a defense of payment or performance) which may at any time be
available to or be asserted by the Borrower or any other Person against the Administrative Agent or any other Secured Party, (iii) any other circumstance whatsoever (with or without notice to or knowledge of the Borrower or such Guarantor)
which constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrower and the Guarantors for the Secured Obligations, or of such Guarantor under the guarantee contained in this Section 2, in bankruptcy
or in any other instance, (iv) any Insolvency Proceeding with respect to the Borrower, any Guarantor or any other Person, (v) any merger, acquisition, consolidation or change in structure of the Borrower, any Guarantor or any other Person,
or any sale, lease, transfer or other disposition of any or all of the assets or Voting Stock of the Borrower, any Guarantor or any other Person, (vi) any assignment or other transfer, in whole or in part, of any Secured Party’s interests
in and rights under this Guaranty or the other Loan Documents, including any Secured Party’s right to receive payment of the Secured Obligations, or any assignment or other transfer, in whole or in part, of any Secured Party’s interests in
and to any of the Collateral, (vi) any Secured Party’s vote, claim, distribution, election, acceptance, action or inaction in any Insolvency Proceeding related to any of the Secured Obligations, and (vii) any other guaranty, whether
by such Guarantor or any other Person, of all or any part of the Secured Obligations or any other indebtedness, obligations or liabilities of any Guarantor to any Secured Party. 

When making any demand hereunder or otherwise pursuing its rights and remedies hereunder against any Guarantor, the Administrative Agent or
any other Secured Party may, but shall be under no obligation to make a similar demand on or otherwise pursue such rights and remedies as it may have against the Borrower, any other Guarantor or any other Person or against any collateral security or
guarantee for the Secured Obligations or any right of offset with respect thereto. Any failure by the Administrative Agent or any other Secured Party to make any such demand, to pursue such other rights or remedies or to collect any payments from
the Borrower, any other Guarantor or any other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrower, any other Guarantor or any other Person or any such
collateral security, guarantee or right of offset, shall not relieve any Guarantor of any obligation or liability hereunder, and shall not impair or affect the rights and remedies, whether express, implied or available as a matter of law, of the
Administrative Agent or any other Secured Party against any Guarantor. For the purposes hereof “demand” shall include the commencement and continuance of any legal proceedings. 

Each Guarantor acknowledges that all or any portion of the Secured Obligations may now or hereafter be secured by a Lien or Liens upon real
property owned or leased by the Borrower or any Guarantor and evidenced by certain documents including, without limitation, deeds of trust and assignments of rents. Any Secured Party may, pursuant to the terms of said documents and applicable law,
foreclose under all or any portion of one or more of said Liens by means of judicial or nonjudicial sale or sales. Each Guarantor agrees that any Secured Party may exercise whatever rights and remedies it may have with respect to said real property
security, all without affecting the liability of any Guarantor hereunder, except to the extent such 

  
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Secured Party realizes payment by such action or proceeding. No election to proceed in one form of action or against any party, or on any obligation shall constitute a waiver of any Secured
Party’s right to proceed in any other form of action or against any Guarantor or any other Person, or diminish the liability of any Guarantor, or affect the right of such Secured Party to proceed against any Guarantor for any deficiency, except
to the extent such Secured Party realizes payment by such action, notwithstanding the effect of such action upon any Guarantor’s rights of subrogation, reimbursement or indemnity, if any, against the Borrower, any Guarantor, or any other
Person. 
 Each Guarantor further unconditionally consents and agrees that, without notice to or further assent from any Guarantor:
(a) the principal amount of the Secured Obligations may be increased or decreased and additional indebtedness or obligations of the Borrower or any other Persons under the Loan Documents may be incurred, by one or more amendments,
modifications, renewals or extensions of any Loan Document or otherwise; (b) the time, manner, place or terms of any payment under any Loan Document may be extended or changed, including by an increase or decrease in the interest rate on any
Secured Obligation or any fee or other amount payable under such Loan Document, by an amendment, modification or renewal of any Loan Document or otherwise; (c) the time for the Borrower’s (or any other Loan Party’s) performance of or
compliance with any term, covenant or agreement on its part to be performed or observed under any Loan Document may be extended, or such performance or compliance waived, or failure in or departure from such performance or compliance consented to,
all in such manner and upon such terms as the Administrative Agent may deem proper; (d) in addition to the Collateral, the Secured Parties may take and hold other security (legal or equitable) of any kind, at any time, as collateral for the
Secured Obligations, and may, from time to time, in whole or in part, exchange, sell, surrender, release, subordinate, modify, waive, rescind, compromise or extend such security and may permit or consent to any such action or the result of any such
action, and may apply such security and direct the order or manner of sale thereof; (e) any Secured Party may discharge or release, in whole or in part, any other Guarantor or any other Loan Party or other Person liable for the payment and
performance of all or any part of the Secured Obligations, and may permit or consent to any such action or any result of such action, and shall not be obligated to demand or enforce payment upon any of the Collateral, nor shall any Secured Party be
liable to any Guarantor for any failure to collect or enforce payment or performance of the Secured Obligations from any Person or to realize upon the Collateral, and (f) the Secured Parties may request and accept other guaranties of the
Secured Obligations and any other indebtedness, obligations or liabilities of the Borrower or any other Loan Party to any Secured Party and may, from time to time, in whole or in part, surrender, release, subordinate, modify, waive, rescind,
compromise or extend any such guaranty and may permit or consent to any such action or the result of any such action; in each case of clauses (a) through (f), as the Secured Parties may deem advisable, based on their reasonable
good faith business judgment, and without impairing, abridging, releasing or affecting this Agreement. 
 2.6 Reinstatement. The
guarantee contained in this Section 2 shall continue to be effective, or be reinstated, as the case may be, if at any time payment, or any part thereof, of any of the Secured Obligations is rescinded or must otherwise be restored or
returned by the Administrative Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or
conservator of, or trustee or similar officer for, the Borrower or any such Guarantor or any substantial part of its respective property, or otherwise, all as though such payments had not been made. 

2.7 Payments. Each Guarantor hereby guarantees that payments hereunder will be paid to the Administrative Agent without setoff or
counterclaim in Dollars at the Funding Office. 
 2.8 Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Agreement in respect of Secured Obligations under Specified Swap
Agreements (provided that, each Qualified ECP Guarantor shall only be liable under this Section 2.8 for the maximum amount of such liability that can be hereby incurred 

  
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without rendering its obligations under this Section 2.8 or otherwise under this Agreement, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and
not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section 2.8 shall remain in full force and effect until the Secured Obligations have been paid in full in cash and all Commitments have terminated.
Each Qualified ECP Guarantor intends that this Section 2.8 constitute, and this Section 2.8 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Loan Party for all
purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.” 
 SECTION 3. GRANT OF SECURITY INTEREST. 

3.1 Grant of Security Interests. Each Grantor hereby grants to the Administrative Agent, for the ratable benefit of the Secured Parties,
a security interest in all of the following property now owned or at any time hereafter acquired by such Grantor or in which such Grantor now has or at any time in the future may acquire any right, title or interest and wherever located
(collectively, the “Collateral”), as collateral security for the prompt and complete payment and performance when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations (whether now existing or
arising hereafter): 
 (a) all Accounts; 

(b) all Chattel Paper; 
 (c) all
Commercial Tort Claims, including all Commercial Tort Claims described on Schedule 8; 
 (d) all Deposit Accounts; (e) all Documents;

 (f) all Equipment; 
 (g)
all Farm Products (as defined in the UCC); 
 (h) all Fixtures; 

(i) all General Intangibles; 

(j) all Goods; 
 (k)
Intellectual Property; 
 (l) all Instruments; 

(m) all Inventory; 
 (n) all
Investment Property (including all Pledged Collateral); 
 (o) all Letter-of-Credit Rights, Letters of Credit (as defined in the UCC),
Promissory Notes (as defined in the UCC), and Drafts (as defined in the UCC); 
 (p) all Securities Accounts; (q) all Money; 

  
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 (r) all Books and records pertaining to the Collateral; 

(s) all other property not otherwise described above; and 

(t) to the extent not otherwise included, all Proceeds, Supporting Obligations and products of any and all of the foregoing; provided,
however, that notwithstanding anything to the contrary contained in clauses (a) through (s) above, the security interests created by this Agreement shall not extend to, and the term “Collateral” (including
all of the individual items comprising Collateral) shall not include, any Excluded Assets. 
 3.2 Grantors Remains Liable. Anything
herein to the contrary notwithstanding, (a) each Grantor shall remain liable under any contracts, agreements and other documents included in the Collateral, to the extent set forth therein, to perform all of its duties and obligations
thereunder to the same extent as if this Agreement had not been executed, (b) the exercise by the Administrative Agent of any of the rights granted to the Administrative Agent hereunder shall not release any Grantor from any of its duties or
obligations under any such contracts, agreements and other documents included in the Collateral, and (c) neither the Administrative Agent nor any other Secured Party shall have any obligation or liability under any such contracts, agreements
and other documents included in the Collateral by reason of this Agreement, nor shall the Administrative Agent or any other Secured Party be obligated to perform any of the obligations or duties of any Grantor thereunder or to take any action to
collect or enforce any such contract, agreement or other document included in the Collateral hereunder. 
 3.3 Perfection and
Priority. 
 (a) Financing Statements. Pursuant to any applicable law, each Grantor authorizes the Administrative Agent (and its
counsel and its agents) to file or record at any time and from time to time any financing statements and other filing or recording documents or instruments with respect to the Collateral and each Grantor shall execute and deliver to the
Administrative Agent and each Grantor hereby authorizes the Administrative Agent (and its counsel and its agents) to file (with or without the signature of such Grantor) at any time and from time to time, all amendments to financing statements,
continuation financing statements, termination statements, assignments, fixture filings, affidavits, reports notices and all other documents and instruments, in such form and in such offices as the Administrative Agent or the Required Lenders
determine appropriate to perfect and continue perfected, maintain the priority of or provide notice of the Administrative Agent’s security interest in the Collateral under and to accomplish the purposes of this Agreement. Each Grantor
authorizes the Administrative Agent to use the collateral description “all personal property, whether now owned or hereafter acquired” or any other similar collateral description in any such financing statements. Each Grantor hereby
ratifies and authorizes the filing by the Administrative Agent (and its counsel and its agents) of any financing statement with respect to the Collateral made prior to the date hereof. 

(b) Filing of Financing Statements. Each Grantor shall deliver to the Administrative Agent, from time to time, such completed UCC-1
financing statements for filing or recording in the appropriate filing offices as may be reasonably requested by the Administrative Agent. 

(c) Transfer of Security Interest Other Than by Delivery. If for any reason Pledged Collateral cannot be delivered to or for the
account of the Administrative Agent as provided in Section 5.6(b), each applicable Grantor shall promptly take such other steps as may be necessary or as shall be reasonably requested from time to time by the Administrative Agent to
effect a transfer of a perfected first priority security interest in and pledge of the Pledged Collateral to the Administrative Agent for itself and on behalf of and for the ratable benefit of the other Secured Parties pursuant to the UCC. To the
extent practicable, each such Grantor shall thereafter deliver the Pledged Collateral to or for the account of the Administrative Agent as provided in Section 5.6(b). 

  
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 (d) Intellectual Property. 

(i) Each Grantor shall, in addition to executing and delivering this Agreement, take such other action as may be necessary, or as the
Administrative Agent may reasonably request, to perfect the Administrative Agent’s security interest in such Grantor’s Intellectual Property. 

(ii) In the case of any Collateral (whether now owned or hereafter acquired) consisting of issued United States Patents and applications
therefor, each Grantor shall execute and deliver to the Collateral Agent a Patent Security Agreement in substantially the form of Annex 5 hereto (or a supplement thereto) covering all such Patents in appropriate form for recordation with the
United States Patent and Trademark Office with respect to the security interest of the Collateral Agent; provided that following the date hereof, within forty-five (45) days of the end of each quarter, such Grantor shall file such Patent
Security Agreement for any issued United States Patents or applications therefor acquired by such Grantor in such quarter. 
 (iii) In the
case of any Collateral (whether now owned or hereafter acquired) consisting of registered United States Trademarks and applications therefor, each Grantor shall execute and deliver to the Collateral Agent a Trademark Security Agreement in
substantially the form of Annex 4 hereto (or a supplement thereto) covering all such Trademarks in appropriate form for recordation with the United States Patent and Trademark Office with respect to the security interest of the Collateral
Agent; provided that following the date hereof, within forty-five (45) days of the end of each quarter, such Grantor shall file such Trademark Security Agreement for any issued United States Trademarks or applications therefor acquired by such
Grantor in such quarter. 
 (iv) In the case of any Collateral (whether now owned or hereafter acquired) consisting of registered United
States Copyrights and exclusive Copyright Licenses in respect of registered United States Copyrights for which any Grantor is the licensee, each Grantor execute and deliver to the Collateral Agent a Copyright Security Agreement in substantially the
form of Annex 3 hereto (or a supplement thereto) covering all such Copyrights and Copyright Licenses in appropriate form for recordation with the United States Copyright Office with respect to the security interest of the Collateral Agent;
provided that following the date hereof, within forty-five (45) days of the end of each quarter, such Grantor shall file such Copyright Security Agreement for any issued United States Copyrights or such Copyright Licenses acquired by such
Grantor in such quarter. 
 (e) Bailees. Any Person (other than the Administrative Agent) at any time and from time to time holding
all or any portion of the Collateral shall be deemed to, and shall, hold the Collateral as the agent of, and as pledge holder for, the Administrative Agent. At any time and from time to time, the Administrative Agent may give notice to any such
Person holding all or any portion of the Collateral that such Person is holding the Collateral as the agent and bailee of, and as pledge holder for, the Administrative Agent, and obtain such Person’s written acknowledgment thereof. Without
limiting the generality of the foregoing, each Grantor will join with the Administrative Agent in notifying any Person who has possession of any Collateral of the Administrative Agent’s security interest therein and shall use commercially
reasonable efforts to obtain an acknowledgment from such Person that it is holding the Collateral for the benefit of the Administrative Agent. 

(f) Control. Each Grantor will cooperate with the Administrative Agent in obtaining control (as defined in the UCC) of Collateral
consisting of any Deposit Accounts, Electronic Chattel Paper, Investment Property, Securities Accounts or Letter-of-Credit Rights, including delivery of control agreements, as the Administrative Agent may reasonably request, to perfect and continue
perfected, maintain the priority of or provide notice of the Administrative Agent’s security interest in such Collateral. 

  
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 (g) Additional Subsidiaries. In the event that any Grantor acquires rights in any
Subsidiary after the date hereof, it shall deliver to the Administrative Agent a completed pledge supplement, substantially in the form of Annex 2 (the “Pledge Supplement”), together with all schedules thereto,
reflecting the pledge of the Capital Stock of such new Subsidiary (except to the extent such Capital Stock consists of Excluded Assets). Notwithstanding the foregoing, it is understood and agreed that the security interest of the Administrative
Agent shall attach to the Pledged Collateral related to such Subsidiary immediately upon any Grantor’s acquisition of rights therein and shall not be affected by the failure of any Grantor to deliver a Pledge Supplement. 

SECTION 4. REPRESENTATIONS AND WARRANTIES 
 In addition to the
representations and warranties of the Grantors set forth in the Credit Agreement, which are incorporated herein by this reference, and to induce the Administrative Agent and the Lenders to enter into the Credit Agreement and to induce the Lenders to
make their respective extensions of credit to the Borrower thereunder, each Grantor hereby represents and warrants to the Administrative Agent and each other Secured Party that: 

4.1 Title; No Other Liens. Except for the Liens permitted to exist on the Collateral by Section 7.3 of the Credit
Agreement, such Grantor owns each item of the Collateral in which a Lien is granted by it free and clear of any and all Liens and other claims of others. No financing statement, fixture filing or other public notice with respect to all or any part
of the Collateral is on file or of record or will be filed in any public office, except such as have been filed as permitted by the Credit Agreement. 

4.2 Perfected Liens. The security interests granted to the Administrative Agent pursuant to this Agreement (a) upon completion of
the filings and other actions specified on Schedule 3 (which, in the case of all filings and other documents referred to on said Schedule, have been delivered to the Administrative Agent in completed and duly (if applicable) executed form)
will constitute valid perfected security interests in all of the Collateral in favor of the Administrative Agent, for the ratable benefit of the Secured Parties, as collateral security for the Secured Obligations, enforceable in accordance with the
terms hereof against any creditors of any Grantor and any Persons purporting to purchase any Collateral from any Grantor, and (ii) are prior to all other Liens on the Collateral (except (x) , in the case of Collateral other than Pledged
Stock, Liens permitted by Section 7.3 of the Credit Agreement which are non-consensual permitted Liens, permitted purchase money Liens, or the interests of lessors under capital leases and (y) as otherwise provided in the
Intercreditor Agreement). Unless an Event of Default has occurred and is continuing, each Grantor has the right to remove the Fixtures in which such Grantor has an interest within the meaning of Section 9-334(f)(2) of the UCC. 

4.3 Jurisdiction of Organization; Chief Executive Office and Locations of Books. On the date hereof, such Grantor’s jurisdiction
of organization, identification number from the jurisdiction of organization (if any), and the location of such Grantor’s chief executive office or sole place of business, as the case may be, are specified on Schedule 4. All locations
where Books pertaining to the Rights to Payment of such Grantor are kept, including all equipment necessary for accessing such Books and the names and addresses of all service bureaus, computer or data processing companies and other Persons keeping
any Books or collecting Rights to Payment for such Grantor, are set forth in Schedule 4. 
 4.4 Inventory and Equipment. On
the date hereof, (a) the Inventory and (b) the Equipment (other than goods which are then in-transit) are kept at the locations listed on Schedule 5. 

4.5 Farm Products. None of the Collateral constitutes, or is the Proceeds of, Farm Products. 

4.6 Pledged Collateral. (a) All of the Pledged Stock held by such Grantor has been duly and validly issued, and is fully paid and
non-assessable, subject in the case of Pledged Stock constituting partnership interests or limited liability company membership interests to future assessments required under 

  
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applicable law and any applicable partnership or operating agreement, (b) such Grantor is or, in the case of any such additional Pledged Collateral will be, the legal record and beneficial
owner thereof, (c) in the case of Pledged Stock of a Subsidiary of such Grantor or Pledged Collateral of such Grantor constituting Instruments issued by a Subsidiary of such Grantor, there are no restrictions on the transferability of such
Pledged Collateral or such additional Pledged Collateral to the Administrative Agent or with respect to the foreclosure, transfer or disposition thereof by the Administrative Agent, except as provided under applicable securities or “Blue
Sky” laws, (d) the Pledged Stock pledged by such Grantor constitute all of the issued and outstanding shares of Capital Stock of each Issuer owned by such Grantor (except for Excluded Assets), and such Grantor owns no securities
convertible into or exchangeable for any shares of Capital Stock of any such Issuer that do not constitute Pledged Stock hereunder, (e) any and all Pledged Collateral Agreements which affect or relate to the voting or giving of written consents
with respect to any of the Pledged Stock pledged by such Grantor have been disclosed to the Administrative Agent, and (f) as to each such Pledged Collateral Agreement relating to the Pledged Stock pledged by such Grantor, (i) to the best
knowledge of such Grantor, such Pledged Collateral Agreement contains the entire agreement between the parties thereto with respect to the subject matter thereof and is in full force and effect in accordance with its terms, (ii) to the best
knowledge of such Grantor party thereto, there exists no material violation or material default under any such Pledged Collateral Agreement by such Grantor or the other parties thereto, and (iii) such Grantor has not knowingly waived or
released any of its material rights under or otherwise consented to a material departure from the terms and provisions of any such Pledged Collateral Agreement. 

4.7 Investment Accounts. Schedule 2 sets forth under the headings “Securities Accounts” and “Commodity
Accounts”, respectively, all of the Securities Accounts and Commodity Accounts in which such Grantor has an interest. Except as disclosed to the Administrative Agent, such Grantor is the sole entitlement holder of each such Securities Account
and Commodity Account, and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over, or any other
interest in, any such Securities Account or Commodity Account or any securities or other property credited thereto; 
 (a) Schedule 2
sets forth under the heading “Deposit Accounts” all of the Deposit Accounts in which such Grantor has an interest and, except as otherwise disclosed to the Administrative Agent, such Grantor is the sole account holder of each such Deposit
Account and such Grantor has not consented to, and is not otherwise aware of, any Person (other than the Administrative Agent) having either sole dominion and control (within the meaning of common law) or “control” (within the meaning of
Section 9-104 of the UCC) over, or any other interest in, any such Deposit Account or any money or other property deposited therein; and 

(b) In each case to the extent requested by the Administrative Agent or as otherwise required under the terms of this Agreement or any other
Loan Document, such Grantor has taken all actions necessary or desirable to: (i) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any Certificated Securities (as
defined in Section 9-102 of the UCC); (ii) establish the Administrative Agent’s “control” (within the meanings of Sections 8-106 and 9-106 of the UCC) over any portion of the Investment Accounts constituting Securities
Accounts, Commodity Accounts, Securities Entitlements or Uncertificated Securities (each as defined in Section 9-102 of the UCC); (iii) establish the Administrative Agent’s “control” (within the meaning of Section 9-104
of the UCC) over all Deposit Accounts; and (iv) deliver all Instruments (as defined in Section 9-102 of the UCC) to the Administrative Agent to the extent required hereunder. 

4.8 Receivables. No amount payable to such Grantor under or in connection with any Receivable or other Right to Payment is evidenced by
any Instrument (other than checks, drafts or other Instruments that will be promptly deposited in an Investment Account) or Chattel Paper which has not been delivered to the Administrative Agent. None of the account debtors or other obligors in
respect of any Receivable in excess of $100,000 in the aggregate is the government of the United States or any agency or instrumentality thereof. 

  
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 4.9 Intellectual Property. 

(a) Schedule 6 lists (i) all registrations and applications for each Grantor’s Intellectual Property (including each
Grantor’s registered Copyrights, Patents, Trademarks and all applications therefor) (ii) all Copyright Licenses, Patent Licenses and Trademark Licenses other than any non-exclusive Licenses entered into in the ordinary course of business
of which the loss of which or default under could not reasonably be expected to have a Material Adverse Effect, in each case of clause (i) and (ii) owned by such Grantor in its own name on the date hereof. 

(b) To the knowledge of the Grantors, each Grantor owns, is licensed to use, or otherwise has valid rights to use all Intellectual Property
necessary for the conduct of its business as currently conducted, except as could not reasonably be expected to have a Material Adverse Effect. The use of such Intellectual Property by each Grantor does not, to the knowledge of the Grantors,
infringe on the rights of any Person in any material respect where such infringement could reasonably be expected to have a Material Adverse Effect. No material claim has been asserted in writing and is pending against any Grantor by any Person
challenging or questioning such Grantor’s use of any Intellectual Property or the validity or effectiveness of such Grantor’s Intellectual Property (other than routine office actions in the course of prosecution of applications to register
Intellectual Property), nor does any Grantor know of any valid basis for any such claim, unless such claim could not reasonably be expected to have a Material Adverse Effect. 

(c) No holding, decision or judgment (other than routine office actions in the course of prosecution of applications to register Intellectual
Property) has been rendered by any Governmental Authority which would limit, cancel or question the validity of, or such Grantor’s rights in, any of any Grantor’s Intellectual Property or Intellectual Property License in any respect that
could reasonably be expected to have a Material Adverse Effect. 
 (d) No action or proceeding (other than routine office actions in the
course of prosecution of applications to register Intellectual Property) is pending, or, to the knowledge of such Grantor, threatened, on the date hereof (i) seeking to limit, cancel or question the validity of any material Intellectual
Property owned by a Grantor or such Grantor’s ownership interest therein, and (ii) which, if adversely determined, could have a Material Adverse Effect. 

4.10 Instruments. (i) Such Grantor has not previously assigned any interest in any Instruments (including but not limited to the
Pledged Notes) held by such Grantor (other than such interests as will be released on or before the date hereof), and (ii) no Person other than such Grantor owns an interest in such Instruments (whether as joint holders, participants or
otherwise). 
 4.11 Letter of Credit Rights. Such Grantor does not have any Letter-of-Credit Rights having a potential value in
excess of $100,000 except as set forth in Schedule 7 or as have been notified to the Administrative Agent in accordance with Section 5.22. 

4.12 Commercial Tort Claims. Such Grantor does not have any Commercial Tort Claims having a potential value in excess of $100,000
except as set forth in Schedule 8 or as have been notified to the Administrative Agent in accordance with Section 5.21. 

  
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 SECTION 5. COVENANTS 

In addition to the covenants of the Grantors set forth in the Credit Agreement, which are incorporated herein by this reference, each Grantor covenants and
agrees with the Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the Discharge of Obligations: 

5.1 Delivery of Instruments, Certificated Securities and Chattel Paper. If any amount payable under or in connection with any of the
Collateral shall be or become evidenced by any Instrument (other than checks, drafts or other Instruments that will be promptly deposited in an Investment Account), Certificated Security or Chattel Paper evidencing an amount in excess of $100,000,
such Instrument, Certificated Security or Chattel Paper shall be promptly delivered to the Administrative Agent, duly indorsed in a manner satisfactory to the Administrative Agent, to be held as Collateral pursuant to this Agreement. 

5.2 Maintenance of Insurance. 

(a) Such Grantor will maintain, with financially sound and reputable companies, insurance policies (i) insuring such Grantor’s and
its Subsidiaries’ assets wherever located, covering liabilities, losses or damages as are customarily are insured against by other Persons engaged in same or similar businesses and similarly situated and located, including insuring the
Inventory and Equipment against loss by fire, explosion, theft and such other casualties as may be reasonably satisfactory to the Agents and (ii) insuring such Grantor, the Administrative Agent and the other Secured Parties against liability
for personal injury and property damage relating to such Inventory and Equipment and other assets, such policies to be in such form and amounts and having such coverage, in amount, adequacy, and scope as may be reasonably satisfactory to the
Administrative Agent and the other Secured Parties. If the Borrower or its Subsidiaries fails to maintain such insurance, Administrative Agent may arrange for such insurance, but at the Borrower’s expense and without any responsibility on any
Agent’s part for obtaining the insurance, the solvency of the insurance companies, the adequacy of the coverage, or the collection of claims. 

(b) All such insurance shall (i) provide that no cancellation, material reduction in amount or material change in coverage thereof shall
be effective until at least 30 days after receipt by the Administrative Agent of written notice thereof, (ii) name the Administrative Agent as an additional insured party or loss payee, (iii) to the extent available on commercially
reasonable terms, and if reasonably requested by the Administrative Agent, include a breach of warranty clause, and (iv) be reasonably satisfactory in all other respects to the Administrative Agent. 

(c) The Borrower shall deliver to the Administrative Agent a report of a reputable insurance broker with respect to such insurance
substantially concurrently with each delivery of the Borrower’s audited annual financial statements and such supplemental reports with respect thereto as any Agent may from time to time reasonably request. 

5.3 Maintenance of Perfected Security Interest; Further Documentation. 

(a) Such Grantor shall maintain the security interests of the Administrative Agent (for the benefit of the Secured Parties) created by this
Agreement as perfected security interests having at least the priority described in Section 4.2 and shall defend such security interests against the claims and demands of all Persons whomsoever, subject to the rights of such Grantor
under the Loan Documents to dispose of the Collateral. 
 (b) Such Grantor will furnish to the Administrative Agent from time to time
statements and schedules further identifying and describing the assets and property of such Grantor and such other reports in connection therewith as the Administrative Agent may reasonably request, all in reasonable detail. 

(c) At any time and from time to time, upon the written request of the Administrative Agent, and at the sole expense of such Grantor, such
Grantor will promptly and duly execute and deliver, and have recorded, such further instruments and documents and take such further actions as the Administrative Agent may reasonably request for the purpose of obtaining or preserving the full
benefits of this Agreement and of the rights and powers herein granted, including, without limitation, (i) filing any financing or continuation statements under the Uniform Commercial Code (or other similar laws) in effect in any

  
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jurisdiction with respect to the security interests created hereby and (ii) in the case of Investment Property, Investment Accounts, Letter-of-Credit Rights and any other relevant
Collateral, taking any actions necessary to enable the Administrative Agent to obtain “control” (within the meaning of the UCC) with respect thereto to the extent required hereunder. 

5.4 Changes in Locations, Name, Etc. Such Grantor will not change its jurisdiction of organization from the jurisdiction of
organization (if any) referred to in Section 4.3. Such Grantor will not, except upon 15 days’ (or such shorter period as may be agreed to by the Administrative Agent) prior written notice to the Administrative Agent and delivery to
the Administrative Agent of (a) all additional executed financing statements and other documents reasonably requested by the Administrative Agent to maintain the validity, perfection and priority of the security interests provided for herein,
and (b) if applicable, a written supplement to Schedule 4 showing the relevant new location of chief executive office or sole place of business, as appropriate: 

(i) change its identification number from the number (if any) or the location of its chief executive office or sole place of business, as
appropriate, from that referred to in Section 4.3; 
 (ii) change its name; or 

(iii) locate any Collateral with a value in excess of $250,000 in any state or other jurisdiction other than those in which such Grantor
operates as of the Closing Date. 
 5.5 Notices. Such Grantor will advise the Administrative Agent promptly, in reasonable detail,
of: 
 (a) any Lien (other than Liens permitted under Section 7.3 of the Credit Agreement) on any of the Collateral; and 

(b) the occurrence of any other event which, in the good faith judgment of the Borrower, could reasonably be expected to have a material
adverse effect on the aggregate value of the Collateral or on the security interests created hereby. 
 5.6 Instruments; Investment
Property. 
 (a) (i) Immediately notify the Administrative Agent if any Grantor shall have obtained or otherwise acquired any
Instruments, Documents, Chattel Paper, certificated securities with respect to any Investment Property, any letters of credit, and all other Rights to Payment held by such Grantor at any time evidenced by promissory notes, trade acceptances or other
instruments, in each case, with a value in excess of $100,000 individually or $250,000 in the aggregate, and (ii) upon the request of the Administrative Agent, such Grantor will (A) immediately deliver to the Administrative Agent, or an
agent designated by it, appropriately endorsed or accompanied by appropriate instruments of transfer or assignment, all such Instruments, Documents, Chattel Paper and certificated securities with respect to any Investment Property held by such
Grantor, all letters of credit of such Grantor, and all other Rights to Payment held by such Grantor at any time evidenced by promissory notes, trade acceptances or other instruments, and (B) provide such notice, obtain such acknowledgments and
take all such other action, with respect to any Chattel Paper, Documents and Letter-of-Credit Rights held by such Grantor, as the Administrative Agent shall reasonably specify. 

(b) If such Grantor shall become entitled to receive or shall receive any certificate (including any certificate representing a dividend or a
distribution in connection with any reclassification, increase or reduction of capital or any certificate issued in connection with any reorganization), option or rights in respect of the Capital Stock of any Issuer, whether in addition to, in
substitution of, as a conversion 

  
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of, or in exchange for, any Pledged Collateral, or otherwise in respect thereof, such Grantor shall accept the same as the agent of the Administrative Agent and the other Secured Parties, hold
the same in trust for the Administrative Agent and the other Secured Parties and deliver the same forthwith to the Administrative Agent in the exact form received, duly indorsed by such Grantor to the Administrative Agent, if required, together with
an undated stock power covering such certificate duly executed in blank by such Grantor and with, if the Administrative Agent so requests, signature guaranteed, to be held by the Administrative Agent, subject to the terms hereof, as additional
collateral security for the Secured Obligations; provided that in no event shall this Section 5.6(b) apply to any Excluded Assets. Any sums paid upon or in respect of the Investment Property upon the liquidation or dissolution of
any Issuer shall, unless otherwise subject to a perfected security interest in favor of the Administrative Agent, be paid over to the Administrative Agent to be held by it hereunder as additional collateral security for the Secured Obligations, and
in case any distribution of capital shall be made on or in respect of the Investment Property or any property shall be distributed upon or with respect to the Investment Property pursuant to the recapitalization or reclassification of the capital of
any Issuer or pursuant to the reorganization thereof, the property so distributed shall, unless otherwise subject to a perfected security interest in favor of the Administrative Agent, be delivered to the Administrative Agent to be held by it
hereunder as additional collateral security for the Secured Obligations. If any sums of money or property so paid or distributed in respect of such Investment Property shall be received by such Grantor, such Grantor shall, until such money or
property is paid or delivered to the Administrative Agent, unless otherwise subject to a perfected security interest in favor of the Administrative Agent, hold such money or property in trust for the Administrative Agent and the other Secured
Parties, segregated from other funds of such Grantor, as additional collateral security for the Secured Obligations. 
 (c) In the case of
any Grantor which is an Issuer, such Issuer agrees that (i) it will be bound by the terms of this Agreement relating to the Capital Stock issued by it and will comply with such terms insofar as such terms are applicable to it, (ii) it will
notify the Administrative Agent promptly in writing of the occurrence of any of the events described in Section 5.6(a) and (b) with respect to the Pledged Collateral issued by it and (iii) the terms of Sections
6.3(c) and 6.7 shall apply to it, mutatis mutandis, with respect to all actions that may be required of it pursuant to Section 6.3(c) or 6.7 with respect to the Capital Stock issued by it. 

5.7 Securities Accounts; Deposit Accounts. 

(a) With respect to any Securities Account, such Grantor shall cause any applicable securities intermediary maintaining such Securities Account
to show on its books that the Administrative Agent is the entitlement holder with respect to such Securities Account, and, if requested by the Administrative Agent, promptly cause such securities intermediary to enter into an agreement in form and
substance satisfactory to the Administrative Agent with respect to such Securities Account pursuant to which such securities intermediary shall agree to comply with the Administrative Agent’s “entitlement orders” without further
consent by such Grantor, as requested by the Administrative Agent; and 
 (b) with respect to any Deposit Account, such Grantor shall enter
into and shall promptly cause the depositary institution maintaining such account to enter into an agreement in form and substance reasonably satisfactory to the Administrative Agent pursuant to which the Administrative Agent shall be granted
“control” (within the meaning of Section 9-104 of the UCC) over such Deposit Account. 
 (c) The Administrative Agent agrees
that it will not communicate “entitlement orders” with respect to the Deposit Accounts and Securities Accounts of the Grantors during a Streamline Period. 

(d) Such Grantor shall give the Administrative Agent immediate notice of the establishment of any new Deposit Account and of any new
Securities Account established by such Grantor with respect to any Investment Property held by such Grantor. 

  
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 5.8 Intellectual Property. 

(a) Such Grantor (either itself or through licensees) will, except as permitted by Section 7.5 of the Credit Agreement,
(i) continue to use each material Trademark owned by such Grantor in order to maintain such material Trademark in full force free from any claim of abandonment for non-use, (ii) maintain as in the past the quality of products and services
offered under each such material Trademark to the extent required to maintain the validity and enforceability of such material Trademark, (iii) use each such material Trademark with the appropriate notice of registration and all other notices
and legends required by applicable United States Requirements of Law, and (iv) not (and not knowingly permit any licensee or sublicensee thereof to) knowingly do any act or knowingly omit to do any act whereby any such material Trademark may
become invalidated or impaired in any way. 
 (b) Except as permitted by Section 7.5 of the Credit Agreement, such Grantor will
not (and will not knowingly permit any licensee of any material Patent to) knowingly do any act, or omit to do any act, whereby any such material Patent owned by such Grantor may become forfeited, abandoned or dedicated to the public, provided that
the applicable Grantor, in its good faith business judgment, may decide to abandon any pending application for a Patent or dedicate it to the public. 

(c) Except as permitted by Section 7.5 of the Credit Agreement, such Grantor will not (and will not knowingly permit any licensee
of any material Copyright to) knowingly do any act or knowingly omit to do any act whereby any such material Copyrights owned by such Grantor may become invalidated or otherwise impaired. Except as permitted by Section 7.5 of the Credit
Agreement, such Grantor will not (either itself or through licensees) knowingly do any act whereby any material portion of such Copyrights may fall into the public domain. 

(d) Such Grantor (either itself or through licensees) will not knowingly use any Intellectual Property, Copyright License, Patent License or
Trademark License to infringe the intellectual property rights of any other Person, except as could not reasonably be expected to have a Material Adverse Effect. 

(e) Such Grantor will notify the Administrative Agent promptly if it knows that any application or registration relating to any Intellectual
Property may become forfeited, abandoned or dedicated to the public, or of any adverse determination or development (including, without limitation, the institution of, or any such determination or development in, any proceeding in the United States
Patent and Trademark Office, the United States Copyright Office or any court or tribunal in any country but excluding routine office actions in the course of prosecution of applications to register Intellectual Property) regarding such
Grantor’s ownership of, or the validity of, any Intellectual Property or such Grantor’s right to register the same or to own and maintain the same, to the extent the loss or invalidity of such Intellectual Property or adverse determination
or development could reasonably be expected to have a Material Adverse Effect. 
 (f) Whenever such Grantor, either by itself or through any
agent, employee, licensee or designee, shall file an application for the registration of any Patent or Trademark with the United States Patent and Trademark Office or any similar office or agency in any other country or political subdivision
thereof, such Grantor shall report (i) the initial application to and (ii) the corresponding grant, if any, of the Patent or Trademark from the United States Patent and Trademark Office to the Administrative Agent, each within 45 days
after the last day of the fiscal quarter in which such filing or grant, as applicable, occurs. Whenever such Grantor, either by itself or through any agent, employee, licensee or designee, shall file an application for the registration of any
Copyright with the United States Copyright Office, such Grantor shall report the filing of the initial application to the Administrative Agent within 45 days after the last day of the fiscal quarter in which such filing occurs. 

  
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 (g) Such Grantor will take all reasonable and necessary steps, including, without limitation, in
any proceeding before the United States Patent and Trademark Office, the United States Copyright Office or any similar office or agency in any other country or any political subdivision thereof, to maintain and pursue each material application filed
by or on behalf of any Grantor (and to obtain the relevant registration) and to maintain each corresponding registration of the material United States Intellectual Property of such Grantor (to the extent it remains material), including filing of
applications for renewal, affidavits of use and affidavits of incontestability. 
 (h) In the event that any material Intellectual Property
of a Grantor is infringed, misappropriated or diluted by a third party, such Grantor shall take such actions as such Grantor shall deem appropriate under the circumstances to protect such Intellectual Property. 

5.9 Receivables. Other than in the ordinary course of business consistent with its past practice, such Grantor will not (a) grant
any extension of the time of payment of any Receivable, (b) compromise or settle any Receivable for less than the full amount thereof, (c) release, wholly or partially, any Person liable for the payment of any Receivable, (d) allow
any credit or discount whatsoever on any Receivable or (e) amend, supplement or modify any Receivable in any manner that could adversely affect the value thereof. 

5.10 Defense of Collateral. Grantors will appear in and defend any action, suit or proceeding which may affect to a material extent its
title to, or right or interest in, or the Administrative Agent’s right or interest in, any material portion of the Collateral. 
 5.11
Preservation of Collateral. Grantors will do and perform all reasonable acts that may be necessary and appropriate to maintain, preserve and protect the Collateral. 

5.12 Compliance with Laws, Etc. Such Grantor will comply in all material respects with all laws, regulations and ordinances, and all
policies of insurance, relating in a material way to the possession, operation, maintenance and control of the Collateral, except where the failure to so comply would not reasonably be expected to result in a Material Adverse Effect or result in a
violation of Section 5.2 hereof. 
 5.13 Location of Books and Chief Executive Office. Such Grantor will: (a) keep
all Books pertaining to the Rights to Payment of such Grantor at the locations set forth in Schedule 4; and (b) give at least 15 days’ prior written notice to the Administrative Agent of any changes in any location where Books
pertaining to the Rights to Payment of such Grantor are kept, including any change of name or address of any service bureau, computer or data processing company or other Person preparing or maintaining any such Books or collecting Rights to Payment
for such Grantor. 
 5.14 Location of Collateral. Such Grantor will: (a) keep the Collateral held by such Grantor at the
locations set forth in Schedule 5 or at such other locations as may be disclosed in writing to the Administrative Agent pursuant to clause (b) and will not remove any such Collateral from such locations (other than in
connection with sales of Inventory in the ordinary course of such Grantor’s business, the movement of Collateral as part of such Grantor’s supply chain and in the ordinary course of such Grantor’s business, other dispositions
permitted by Section 7.5 of the Credit Agreement and movements of Collateral from one disclosed location to another disclosed location within the United States), except upon at least 15 days’ prior written notice of any removal to
the Administrative Agent; and (b) give the Administrative Agent at least 15 days’ prior written notice of any change in the locations set forth in Schedule 5. 

5.15 Maintenance of Records. Such Grantor will keep separate, accurate and complete Books with respect to Collateral held by such
Grantor, disclosing the Administrative Agent’s security interest hereunder. 

  
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 5.16 Disposition of Collateral. Such Grantor will not surrender or lose possession of
(other than to the Administrative Agent), sell, lease, rent, or otherwise dispose of or transfer any of the Collateral held by such Grantor or any right or interest therein, except to the extent permitted by the Loan Documents. 

5.17 Liens. Such Grantor will keep the Collateral held by such Grantor free of all Liens except Liens permitted under
Section 7.3 of the Credit Agreement. 
 5.18 Expenses. Such Grantor will pay all expenses of protecting, storing,
warehousing, insuring, handling and shipping the Collateral held by such Grantor, to the extent the failure to pay any such expenses could reasonably be expected to materially and adversely affect the value of the Collateral. 

5.19 Leased Premises; Collateral Held by Warehouseman, Bailee, Etc. At any Agent’s request, such Grantor will use commercially
reasonable efforts to obtain from each Person from whom such Grantor leases any premises, and from each other Person at whose premises any Collateral held by such Grantor is at any time present (including any bailee, warehouseman or similar Person),
any such collateral access, subordination, landlord waiver, bailment, consent and estoppel agreements as the Administrative Agent may reasonably require, in form and substance satisfactory to the Agents. 

5.20 Chattel Paper. Such Grantor will not create any Chattel Paper without placing a legend on such Chattel Paper acceptable to the
Administrative Agent indicating that the Administrative Agent has a security interest in such Chattel Paper. Such Grantor will give the Administrative Agent immediate notice if such Grantor at any time holds or acquires an interest in any Chattel
Paper, including any Electronic Chattel Paper and shall comply, in all respects, with the provisions of Section 5.1 hereof. 

5.21 Commercial Tort Claims. Such Grantor will give the Administrative Agent prompt notice if such Grantor shall at any time hold or
acquire any Commercial Tort Claim with a potential value in excess of $100,000, and unless otherwise consented by the Agents, such Grantor shall enter into a supplement to this Agreement granting to the Administrative Agent a Lien in such Commercial
Tort Claim. 
 5.22 Letter-of-Credit Rights. Such Grantor will give the Administrative Agent prompt notice if such Grantor shall at
any time hold or acquire any Letter-of-Credit Rights with a potential value in excess of $100,000. 
 5.23 Shareholder Agreements and
Other Agreements. 
 (a) Such Grantor shall comply with all of its obligations under any shareholders agreement, operating agreement,
partnership agreement, voting trust, proxy agreement or other agreement or understanding (collectively, the “Pledged Collateral Agreements”) to which it is a party and shall enforce all of its rights thereunder, except, with
respect to any such Pledged Collateral Agreement relating to any Pledged Collateral issued by a Person other than a Subsidiary of a Grantor, to the extent the failure to enforce any such rights could reasonably be expected to materially and
adversely affect the value of the Pledged Collateral to which any such Pledged Collateral Agreement relates. 
 (b) Such Grantor agrees that
no Pledged Stock (i) shall be dealt in or traded on any securities exchange or in any securities market, (ii) shall constitute an investment company security, or (iii) shall be held by such Grantor in a Securities Account. 

(c) Other than as expressly permitted by the Credit Agreement, such Grantor shall not vote to enable or take any other action to amend or
terminate, or waive compliance with any of the terms of, any such Pledged Collateral Agreement, certificate or articles of incorporation, bylaws or other organizational documents in any way that materially and adversely affects the validity,
perfection or priority of the Administrative Agent’s security interest therein. 

  
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 SECTION 6. REMEDIAL PROVISIONS 

Each Grantor covenants and agrees with the Administrative Agent and the other Secured Parties that, from and after the date of this Agreement until the
Discharge of Obligations: 
 6.1 Certain Matters Relating to Receivables. 

At the Administrative Agent’s request, after the occurrence and during the continuance of an Event of Default, each Grantor shall deliver
to the Administrative Agent all original and other documents evidencing, and relating to, the agreements and transactions which gave rise to the Receivables, including, without limitation, all original orders, invoices and shipping receipts. 

6.2 Communications with Obligors; Grantors Remain Liable. 

(a) The Administrative Agent in its own name or in the name of others may at any time after the occurrence and during the continuance of an
Event of Default communicate with obligors under the Receivables to verify with them to the Administrative Agent’s satisfaction the existence, amount and terms of any Receivables. 

(b) Upon the request of the Administrative Agent, at any time after the occurrence and during the continuance of an Event of Default, each
Grantor shall notify obligors on the Receivables that the Receivables have been assigned to the Administrative Agent for the ratable benefit of the Secured Parties and that payments in respect thereof shall be made directly to the Administrative
Agent. 
 (c) Anything herein to the contrary notwithstanding, each Grantor shall remain liable under each of the Receivables to observe and
perform all the conditions and obligations to be observed and performed by it thereunder, all in accordance with the terms of any agreement giving rise thereto. Neither the Administrative Agent nor any other Secured Party shall have any obligation
or liability under any Receivable (or any agreement giving rise thereto) by reason of or arising out of this Agreement or the receipt by the Administrative Agent or any Lender of any payment relating thereto, nor shall the Administrative Agent nor
any other Secured Party be obligated in any manner to perform any of the obligations of any Grantor under or pursuant to any Receivable (or any agreement giving rise thereto), to make any payment, to make any inquiry as to the nature or the
sufficiency of any payment received by it or as to the sufficiency of any performance by any party thereunder, to present or file any claim, to take any action to enforce any performance or to collect the payment of any amounts which may have been
assigned to it or to which it may be entitled at any time or times. 
 6.3 Investment Property. 

(a) Unless an Event of Default shall have occurred and be continuing and the Administrative Agent shall have given written notice to the
relevant Grantor of the Administrative Agent’s intent to exercise its corresponding rights pursuant to Section 6.3(b), each Grantor shall be permitted to receive all cash dividends paid in respect of the Pledged Collateral and all
payments made in respect of the Pledged Notes to the extent not prohibited by the Credit Agreement, and to exercise all voting and corporate or other organizational rights with respect to the Investment Property of such Grantor; provided,
however, that no vote shall be cast or corporate or other organizational right exercised or other action taken which, in the Administrative Agent’s reasonable discretion, would materially impair the Collateral or which would be
inconsistent with or result in any violation of any provision of the Credit Agreement, this Agreement or any other Loan Document. 
 (b) If
an Event of Default shall occur and be continuing and the Administrative Agent shall give notice of its intent to exercise such rights to the relevant Grantor or Grantors, (i) the Administrative

  
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Agent shall have the right (A) to receive any and all cash dividends, payments or other Proceeds paid in respect of the Investment Property (including the Pledged Collateral) of any or all
of the Grantors and make application thereof to the Secured Obligations in the order set forth in Section 6.5, and (B) to exchange uncertificated Pledged Collateral for certificated Pledged Collateral and to exchange certificated
Pledged Collateral for certificates of larger or smaller denominations, for any purpose consistent with this Agreement (in each case to the extent such exchanges are permitted under the applicable Pledged Collateral Agreements or otherwise agreed
upon by the Issuer of such Pledged Collateral), and (ii) any and all of such Investment Property shall be registered in the name of the Administrative Agent or its nominee, and the Administrative Agent or its nominee may thereafter exercise
(x) all voting, corporate and other rights pertaining to such Investment Property at any meeting of shareholders of the relevant Issuer or Issuers or otherwise and (y) any and all rights of conversion, exchange and subscription and any
other rights, privileges or options pertaining to such Investment Property as if it were the absolute owner thereof (including, without limitation, the right to exchange at its discretion any and all of any such Investment Property upon the merger,
consolidation, reorganization, recapitalization or other fundamental change in the corporate or other organizational structure of any Issuer, or upon the exercise by any Grantor or the Administrative Agent of any right, privilege or option
pertaining to such Investment Property, and in connection therewith, the right to deposit and deliver any and all of such Investment Property with any committee, depositary, transfer agent, registrar or other designated agency upon such terms and
conditions as the Administrative Agent may determine), all without liability except to account for property actually received by it, but the Administrative Agent shall have no duty to any Grantor to exercise any such right, privilege or option and
shall not be responsible for any failure to do so or delay in so doing. 
 (c) Each Grantor hereby authorizes and instructs each Issuer of
any Pledged Collateral or Pledged Notes pledged by such Grantor hereunder to (i) comply with any instruction received by it from the Administrative Agent in writing that (x) states that an Event of Default has occurred and is continuing
and (y) is otherwise in accordance with the terms of this Agreement, without any other or further instructions from such Grantor, and each Grantor agrees that each Issuer shall be fully protected in so complying, and (ii) unless otherwise
expressly permitted hereby, pay any dividends or other payments with respect to the Pledged Collateral or, as applicable, the Pledged Notes directly to the Administrative Agent. 

(d) If a Streamline Period is not continuing at any date of determination, the Administrative Agent shall have the right to apply the balance
from any Deposit Account or Securities Account or instruct the bank or securities intermediary, as applicable, at which any Deposit Account or Securities Account is maintained to pay the balance of any Deposit Account or Securities Account to or for
the benefit of the Administrative Agent, for application in to the Obligations in accordance with the Credit Agreement. 
 6.4 Proceeds
to be Turned Over To Administrative Agent. In addition to the rights of the Administrative Agent and the other Secured Parties specified in Section 6.1 of this Agreement and Section 6.3 of the Credit Agreement with
respect to payments of Receivables, if a Streamline Period is not in effect at any date determination, all Proceeds received by any Grantor consisting of cash, checks, Cash Equivalents and other near-cash items shall be held by such Grantor in trust
for the Administrative Agent and the other Secured Parties, segregated from other funds of such Grantor, and shall, forthwith upon receipt by such Grantor, be turned over to the Administrative Agent in the exact form received by such Grantor (duly
indorsed by such Grantor to the Administrative Agent, if required). All Proceeds received by the Administrative Agent hereunder shall be held by the Administrative Agent in a Collateral Account over which it maintains control, within the meaning of
the UCC. All Proceeds while held by the Administrative Agent in a Collateral Account (or by such Grantor in trust for the Administrative Agent and the other Secured Parties) shall continue to be held as collateral security for all the Secured
Obligations and shall not constitute payment thereof until applied as provided in Section 6.5. 

  
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 6.5 Application of Proceeds. If a Streamline Period is not in effect at any date of
determination, at any time at the Administrative Agent’s election, the Administrative Agent may apply all or any part of Proceeds constituting Collateral, whether or not held in any Collateral Account, in payment of the Secured Obligations in
accordance with the Credit Agreement. 
 6.6 Code and Other Remedies. If an Event of Default shall occur and be continuing, the
Administrative Agent, on behalf of the Secured Parties, may exercise, in addition to all other rights and remedies granted to them in this Agreement and in any other instrument or agreement securing, evidencing or relating to the Secured
Obligations, all rights and remedies of a secured party under the UCC or any other applicable law or in equity. Without limiting the generality of the foregoing, the Administrative Agent, without demand of performance or other demand, presentment,
protest, advertisement or notice of any kind (except any notice required by law) to or upon any Grantor or any other Person (all and each of which demands, defenses, advertisements and notices are hereby waived), may in such circumstances forthwith
collect, receive, appropriate and realize upon the Collateral, or any part thereof, and/or may forthwith sell, lease, assign, give option or options to purchase, or otherwise dispose of and deliver the Collateral or any part thereof (or contract to
do any of the foregoing), in one or more parcels at public or private sale or sales, at any exchange, broker’s board or office of the Administrative Agent or any other Secured Party or elsewhere upon such terms and conditions as it may deem
advisable and at such prices as it may deem best, for cash or on credit or for future delivery without assumption of any credit risk. The Administrative Agent or any other Secured Party shall have the right upon any such public sale or sales, and,
to the extent permitted by law, upon any such private sale or sales, to purchase the whole or any part of the Collateral so sold, free of any right or equity of redemption in any Grantor, which right or equity is hereby waived and released. Each
Grantor further agrees, at the Administrative Agent’s request, to assemble the Collateral and make it available to the Administrative Agent at places which the Administrative Agent shall reasonably select, whether at such Grantor’s
premises or elsewhere. The Administrative Agent shall apply the net proceeds of any action taken by it pursuant to this Section 6.6, in accordance with the provisions of Section 6.5, only after deducting all reasonable costs
and expenses of every kind incurred in connection therewith or incidental to the care or safekeeping of any of the Collateral or in any way relating to the Collateral or the rights of the Administrative Agent and the other Secured Parties hereunder,
including, without limitation, reasonable attorneys’ fees and disbursements, to the payment in whole or in part of the Secured Obligations, in such order as is contemplated by Section 8.3 of the Credit Agreement, and only after such
application and after the payment by the Administrative Agent of any other amount required by any provision of law, including Section 9-615(a)(3) of the UCC, but only to the extent of the surplus, if any, owing to any Grantor. To the extent
permitted by applicable law, each Grantor waives all claims, damages and demands it may acquire against the Administrative Agent or any other Secured Party arising out of the exercise by any of them of any rights hereunder, except to the extent
caused by the gross negligence or willful misconduct of the Administrative Agent or such Secured Party or their respective agents. If any notice of a proposed sale or other disposition of Collateral shall be required by law, such notice shall be
deemed reasonable and proper if given at least 10 days before such sale or other disposition. Administrative Agent may, in addition to other rights and remedies provided for herein, in the other Loan Documents, or otherwise available to it under
applicable law and without the requirement of notice to or upon any Grantor or any other Person (which notice is hereby expressly waived to the maximum extent permitted by the Code or any other applicable law), (i) with respect to any
Grantor’s Deposit Accounts in which Administrative Agent’s Liens are perfected by control under Section 9-104 or any other section of the UCC, instruct the bank maintaining such Deposit Account for the applicable Grantor to pay the
balance of such Deposit Account to or for the benefit of the Administrative Agent, and (ii) with respect to any Grantor’s Securities Accounts in which Administrative Agent’s Liens are perfected by control under Section 9-106 or
any other section of the UCC, instruct the securities intermediary maintaining such Securities Account for the applicable Grantor to (A) transfer any cash in such Securities Account to or for the benefit of Administrative Agent, or
(B) liquidate any financial assets in such Securities Account that are customarily sold on a recognized market and transfer the cash proceeds thereof to or for the benefit of Administrative Agent. Each Grantor hereby acknowledges that the
Secured Obligations arise out of 

  
 25 

 
a commercial transaction, and agrees that if an Event of Default shall occur and be continuing Administrative Agent shall have the right to an immediate writ of possession without notice of a
hearing. Administrative Agent shall have the right to the appointment of a receiver for the properties and assets of each Grantor, and each Grantor hereby consents to such rights and such appointment and hereby waives any objection such Grantor may
have thereto or the right to have a bond or other security posted by Administrative Agent. 
 6.7 Pledged Stock. 

(a) The Administrative Agent may exercise in respect of the Pledged Stock, in addition to all other rights and remedies provided for herein or
otherwise available to it, all the rights and remedies of a secured party on default under the UCC (whether or not the UCC applies to the affected Pledged Stock), and the Administrative Agent may also in its sole discretion, in accordance with
applicable law, without notice except as specified below, sell the Pledged Stock or any part thereof in one or more parcels at public or private sale, at any exchange or broker’s board or elsewhere, for cash, on credit or for future delivery,
at such time or times and at such price or prices and upon such other terms as the Administrative Agent may deem commercially reasonable, irrespective of the impact of any such sales on the market price of the Pledged Stock. The Administrative Agent
may be the purchaser of any or all of the Pledged Stock at any such sale and the Administrative Agent shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Pledged Stock
sold at any such public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any Pledged Stock payable by the Administrative Agent at such sale. Each purchaser at any such sale shall hold the property sold
absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the extent permitted by applicable law) all rights of redemption, stay and/or appraisal which it now has or may at any time in the future have
under any rule of law or statute now existing or hereafter enacted. Each Grantor agrees that, to the extent notice of sale shall be required by law, at least ten days’ notice to Borrower of the time and place of any public sale or the time
after which any private sale is to be made shall constitute reasonable notification. The Administrative Agent shall not be obligated to make any sale of Pledged Stock regardless of notice of sale having been given. The Administrative Agent may
adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further notice, be made at the time and place to which it was so adjourned. Each Grantor hereby waives any claims
against the Administrative Agent arising by reason of the fact that the price at which any Pledged Stock may have been sold at such a private sale was less than the price which might have been obtained at a public sale, even if the Administrative
Agent accepts the first offer received and does not offer such Pledged Stock to more than one offeree. If the proceeds of any sale or other disposition of the Pledged Stock are insufficient to pay all the Secured Obligations, each Grantor shall be
liable for the deficiency and the fees of any attorneys employed by the Administrative Agent to collect such deficiency. 
 (b) Each Grantor
recognizes that the Administrative Agent may be unable to effect a public sale of any or all the Pledged Stock, by reason of certain prohibitions contained in the Securities Act and applicable state securities laws or otherwise, and may be compelled
to resort to one or more private sales thereof to a restricted group of purchasers which will be obliged to agree, among other things, to acquire such securities for their own account for investment and not with a view to the distribution or resale
thereof, provided that if the Administrative Agent resorts to such a private sale, it shall use its good faith judgment in carrying out such sale. Each Grantor acknowledges and agrees that any such private sale may result in prices and other terms
less favorable than if such sale were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall be deemed to have been made in a commercially reasonable manner. Subject to its compliance with state securities
laws applicable to private sales, the Administrative Agent shall be under no obligation to delay a sale of any of the Pledged Stock for the period of time necessary to permit the Issuer thereof to register such securities for public sale under the
Securities Act, or under applicable state securities laws, even if such Issuer would agree to do so. 

  
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 (c) Each Grantor agrees to use commercially reasonable efforts to do or cause to be done all such
other acts as may be necessary to make such sale or sales of all or any portion of the Pledged Stock pursuant to this Section 6.7 valid and binding and in compliance with any applicable Requirement of Law. Each Grantor further agrees
that a breach of any of the covenants contained in this Section 6.7 will cause irreparable injury to the Administrative Agent and the other Secured Parties, that the Administrative Agent and the other Secured Parties have no adequate
remedy at law in respect of such breach and, as a consequence, that each and every covenant contained in this Section 6.7 shall be specifically enforceable against such Grantor, and such Grantor hereby waives and agrees not to assert any
defenses against an action for specific performance of such covenants except for a defense that no Event of Default has occurred under the Credit Agreement. 

6.8 [Intentionally Omitted]. 

6.9 Deficiency. Each Grantor shall remain liable for any deficiency if the proceeds of any sale or other disposition of the Collateral
are insufficient to pay its Secured Obligations and the fees and disbursements of any attorneys employed by the Administrative Agent or any other Secured Party to collect such deficiency. 

SECTION 7. THE ADMINISTRATIVE AGENT 
 Each Grantor covenants and
agrees with the Administrative Agent and the other Secured Parties that: 
 7.1 Administrative Agent’s Appointment as
Attorney-in-Fact, etc. 
 Each Grantor hereby irrevocably constitutes and appoints the Administrative Agent and any officer or agent
thereof, with full power of substitution, as its true and lawful attorney-in-fact with full irrevocable power and authority in the place and stead of such Grantor and in the name of such Grantor or in its own name, for the purpose of carrying out
the terms of this Agreement, to take any and all appropriate action and to execute any and all documents and instruments which may be necessary or desirable to accomplish the purposes of this Agreement, and, without limiting the generality of the
foregoing, each Grantor hereby gives the Administrative Agent the power and right, on behalf of such Grantor, without notice to or assent by such Grantor, to do any or all of the following: 

(i) in the name of such Grantor or its own name, or otherwise, take possession of and indorse and collect any checks, drafts, notes,
acceptances or other instruments for the payment of moneys due under any Receivable or with respect to any other Collateral and file any claim or take any other action or proceeding in any court of law or equity or otherwise deemed appropriate by
the Administrative Agent for the purpose of collecting any and all such moneys due under any Receivable or with respect to any other Collateral whenever payable; 

(ii) in the case of any Intellectual Property, (A) execute and deliver, and have recorded, any and all agreements, instruments,
documents and papers as the Administrative Agent may request to evidence the Administrative Agent’s and the other Secured Parties’ security interest in such Intellectual Property and the goodwill and general intangibles of such Grantor
relating thereto or represented thereby, and (B) use any Intellectual Property or IP Licenses of such Grantor, including but not limited to any labels, Patents, Trademarks, trade names, URLs, domain names, industrial designs, Copyrights, or
advertising matter, in preparing for sale, advertising for sale, or selling inventory or other Collateral and to collect any amounts due under accounts, contracts or other Collateral of such Grantor; 

(iii) pay or discharge taxes and Liens levied or placed on or threatened against the Collateral, effect any repairs or any insurance called
for by the terms of this Agreement and pay all or any part of the premiums therefor and the costs thereof; 

  
 27 

 (iv) execute, in connection with any sale provided for in Section 6.6 or 6.7,
any endorsements, assignments or other instruments of conveyance or transfer with respect to the Collateral; and 
 (v) (A) direct any
party liable for any payment under any of the Collateral to make payment of any and all moneys due or to become due thereunder directly to the Administrative Agent or as the Administrative Agent shall direct; (B) ask or demand for, collect, and
receive payment of and receipt for, any and all moneys, claims and other amounts due or to become due at any time in respect of or arising out of any Collateral; (C) sign and indorse any invoices, freight or express bills, bills of lading,
storage or warehouse receipts, drafts against debtors, assignments, verifications, notices and other documents in connection with any of the Collateral; (D) commence and prosecute any suits, actions or proceedings at law or in equity in any
court of competent jurisdiction to collect the Collateral or any portion thereof and to enforce any other right in respect of any Collateral; (E) defend any suit, action or proceeding brought against such Grantor with respect to any Collateral;
(F) settle, compromise or adjust any such suit, action or proceeding and, in connection therewith, give such discharges or releases as the Administrative Agent may deem appropriate; (G) assign any Copyright, Patent or Trademark (along with
the goodwill of the business to which any such Copyright, Patent or Trademark pertains), throughout the world for such term or terms, on such conditions, and in such manner, as the Administrative Agent shall in its sole discretion determine; and
(H) generally, sell, transfer, pledge and make any agreement with respect to or otherwise deal with any of the Collateral as fully and completely as though the Administrative Agent were the absolute owner thereof for all purposes, and do, at
the Administrative Agent’s option and such Grantor’s expense, at any time, or from time to time, all acts and things which the Administrative Agent deems necessary to protect, preserve or realize upon the Collateral and the Administrative
Agent’s and the other Secured Parties’ security interests therein and to effect the intent of this Agreement, all as fully and effectively as such Grantor might do. 

Anything in this Section 7.1(a) to the contrary notwithstanding, the Administrative Agent agrees that it will not exercise any
rights under the power of attorney provided for in this Section 7.1(a) unless an Event of Default shall have occurred and be continuing. 

(b) If any Grantor fails to perform or comply with any of its agreements contained herein, the Administrative Agent, at its option, but
without any obligation so to do, may perform or comply, or otherwise cause performance or compliance, with such agreement. 
 (c) The
expenses of the Administrative Agent incurred in connection with actions undertaken as provided in this Section 7.1, together with interest thereon at a rate per annum equal to the highest rate per annum at which interest would then be
payable on any category of past due ABR Loans under the Credit Agreement, from the date of payment by the Administrative Agent to the date reimbursed by the relevant Grantor, shall be payable by such Grantor to the Administrative Agent on demand.

 (d) Each Grantor hereby ratifies all that said attorneys shall lawfully do or cause to be done by virtue hereof. All powers,
authorizations and agencies contained in this Agreement are coupled with an interest and are irrevocable until this Agreement is terminated and the security interests created hereby are released. 

7.2 Duty of Administrative Agent. The Administrative Agent’s sole duty with respect to the custody, safekeeping and physical
preservation of the Collateral in its possession, under Section 9-207 of the UCC or otherwise, shall be to deal with it in the same manner as the Administrative Agent deals with similar property for its own account. Neither the Administrative
Agent, any other Secured Party nor any of their respective officers, directors, employees or agents shall be liable for failure to demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to
sell or otherwise dispose of any Collateral upon the request of any Grantor or any other Person or to take any other action whatsoever with regard to the Collateral or any part thereof. The powers conferred on the Administrative Agent and the other
Secured Parties hereunder are solely to protect the Administrative Agent’s and the other Secured 

  
 28 

 
Parties’ interests in the Collateral and shall not impose any duty upon the Administrative Agent or any other Secured Party to exercise any such powers. The Administrative Agent and the
other Secured Parties shall be accountable only for amounts that they actually receive as a result of the exercise of such powers, and neither they nor any of their officers, directors, employees or agents shall be responsible to any Grantor for any
act or failure to act hereunder, except for their own gross negligence or willful misconduct. 
 7.3 Authority of Administrative
Agent. Each Grantor acknowledges that the rights and responsibilities of the Administrative Agent under this Agreement with respect to any action taken by the Administrative Agent or the exercise or non-exercise by the Administrative Agent of
any option, voting right, request, judgment or other right or remedy provided for herein or resulting or arising out of this Agreement shall, as between the Administrative Agent and the other Secured Parties, be governed by the Credit Agreement and
by such other agreements with respect thereto as may exist from time to time among them, but, as between the Administrative Agent and the Grantors, the Administrative Agent shall be conclusively presumed to be acting as agent for the Secured Parties
with full and valid authority so to act or refrain from acting, and no Grantor shall be under any obligation, or entitlement, to make any inquiry respecting such authority. 

SECTION 8. MISCELLANEOUS 
 8.1 Amendments in
Writing. None of the terms or provisions of this Agreement may be waived, amended, supplemented or otherwise modified except in accordance with Section 10.1 of the Credit Agreement. 

8.2 Notices. All notices, requests and demands to or upon the Administrative Agent or any Grantor hereunder shall be effected in the
manner provided for in Section 10.2 of the Credit Agreement; provided that any such notice, request or demand to or upon any Guarantor shall be addressed to such Guarantor at its notice address set forth on Schedule 1. 

8.3 No Waiver by Course of Conduct; Cumulative Remedies. Neither the Administrative Agent nor any other Secured Party shall by any act
(except by a written instrument pursuant to Section 8.1), delay, indulgence, omission or otherwise be deemed to have waived any right or remedy hereunder or to have acquiesced in any Default or Event of Default, as applicable. No failure
to exercise, nor any delay in exercising, on the part of the Administrative Agent or any other Secured Party, any right, power or privilege hereunder shall operate as a waiver thereof. No single or partial exercise of any right, power or privilege
hereunder shall preclude any other or further exercise thereof or the exercise of any other right, power or privilege. A waiver by the Administrative Agent or any other Secured Party of any right or remedy hereunder on any one occasion shall not be
construed as a bar to any right or remedy which the Administrative Agent or such other Secured Party would otherwise have on any future occasion. The rights and remedies herein provided are cumulative, may be exercised singly or concurrently and are
not exclusive of any other rights or remedies provided by law. 
 8.4 Enforcement Expenses; Indemnification. 

(a) Each Guarantor agrees to pay or reimburse the Administrative Agent and each other Secured Party for all its costs and expenses incurred in
collecting against such Guarantor under the guaranty contained in Section 2 of this Agreement or otherwise enforcing or preserving any rights under this Agreement and the other Loan Documents to which such Guarantor is a party, including
the fees and disbursements of counsel (including the allocated fees and expenses of in-house counsel) to the Administrative Agent and of counsel to each other Secured Party. 

(b) Each Guarantor agrees to pay, and to save the Administrative Agent and each other Secured Party harmless from, any and all liabilities
with respect to, or resulting from any delay in paying, any and all stamp, excise, sales or other taxes which may be payable or determined to be payable with respect to any of the Collateral or in connection with any of the transactions contemplated
by this Agreement. 

  
 29 

 (c) Each Guarantor agrees to pay, and to save the Administrative Agent and each other Secured
Party harmless from, any and all liabilities, obligations, losses, damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind or nature whatsoever with respect to the execution, delivery, enforcement, performance and
administration of this Agreement to the extent the Borrower would be required to do so pursuant to the Credit Agreement. 
 (d) The
agreements in this Section 8.4 shall survive repayment of the Secured Obligations and any other amounts payable under the Credit Agreement and the other Loan Documents. 

8.5 Successors and Assigns. This Agreement shall be binding upon the successors and assigns of each Grantor and shall inure to the
benefit of the Administrative Agent and each other Secured Party and their respective successors and assigns; provided that no Grantor may assign, transfer or delegate any of its rights or obligations under this Agreement without the prior
written consent of the Administrative Agent. 
 8.6 Set Off. Each Grantor hereby irrevocably authorizes the Administrative Agent and
each other Secured Party and any Affiliate thereof at any time and from time to time after the occurrence and during the continuance of an Event of Default, without notice to such Grantor or any other Grantor, any such notice being expressly waived
by each Grantor, to setoff and appropriate and apply any and all deposits (general or special, time or demand, provisional or final), in any currency, and any other credits, indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or owing by the Administrative Agent or such Secured Party or such Affiliate to or for the credit or the account of such Grantor, or any part thereof in such amounts as the
Administrative Agent or such Secured Party may elect, against and on account of the Secured Obligations and liabilities of such Grantor then due to the Administrative Agent or such Secured Party hereunder and under the other Loan Documents and
claims of every nature and description of the Administrative Agent or such Secured Party against such Grantor, in any currency, whether arising hereunder, under the Credit Agreement, any other Loan Document or otherwise, as the Administrative Agent
or such Secured Party may elect, whether or not the Administrative Agent or any other Secured Party has made any demand for payment and although such obligations, liabilities and claims may be contingent or unmatured. The rights of the
Administrative Agent and each other Secured Party under this Section 8.6 are in addition to other rights and remedies (including, without limitation, other rights of setoff) which the Administrative Agent or such other Secured Party may
have. 
 8.7 Counterparts. This Agreement may be executed and delivered by one or more of the parties to this Agreement on any number
of separate counterparts (including delivery by facsimile and/or electronic mail), and all of said counterparts taken together shall be deemed to constitute one and the same instrument. 

8.8 Severability. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such
jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable
such provision in any other jurisdiction. 
 8.9 Section Headings. The Section headings used in this Agreement are for convenience of
reference only and are not to affect the construction hereof or be taken into consideration in the interpretation hereof. 
 8.10
Integration. This Agreement and the other Loan Documents represent the agreement of the Grantors, the Administrative Agent and the other Secured Parties with respect to the subject matter hereof and thereof, and there are no promises,
undertakings, representations or warranties by the Administrative Agent or any other Secured Party relative to subject matter hereof and thereof not expressly set forth or referred to herein or in the other Loan Documents. 

  
 30 

 8.11 GOVERNING LAW. THE VALIDITY OF THIS AGREEMENT (UNLESS EXPRESSLY PROVIDED TO
THE CONTRARY IN ANOTHER LOAN DOCUMENT IN RESPECT OF SUCH OTHER LOAN DOCUMENT), THE CONSTRUCTION, INTERPRETATION, AND ENFORCEMENT HEREOF, THE RIGHTS OF THE PARTIES HERETO WITH RESPECT TO ALL MATTERS ARISING HEREUNDER OR RELATED HERETO, AND ANY
CLAIMS, CONTROVERSIES OR DISPUTES ARISING HEREUNDER OR RELATED HERETO SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. This Section 8.11 shall survive the Discharge of Obligations.

 8.12 Submission to Jurisdiction; Waivers. Each Grantor hereby irrevocably and unconditionally: 

(a) submits for itself and its property in any legal action or proceeding relating to this Agreement and the other Loan Documents to which it
is a party, or for recognition and enforcement of any judgment in respect thereof, to the non-exclusive general jurisdiction of the courts of the State of New York, the courts of the United States of America for the Southern District of the State of
New York, and appellate courts from any thereof; 
 (b) consents that any such action or proceeding may be brought in such courts and waives
any objection that it may now or hereafter have to the venue of any such action or proceeding in any such court or that such action or proceeding was brought in an inconvenient court and agrees not to plead or claim the same; 

(c) agrees that service of process in any such action or proceeding may be effected by mailing a copy thereof by registered or certified mail
(or any substantially similar form of mail), postage prepaid, to such Grantor at its address referred to in Section 8.2 or at such other address of which the Administrative Agent shall have been notified pursuant thereto; 

(d) agrees that nothing herein shall affect the right to effect service of process in any other manner permitted by law or shall limit the
right to sue in any other jurisdiction; 
 (e) waives, to the maximum extent not prohibited by law, any right it may have to claim or
recover in any legal action or proceeding referred to in this Section 8.12 any special, exemplary, punitive or consequential damages; and 

(f) acknowledged and agrees that Section 10.14(c) of the Credit Agreement is hereby incorporated by reference. 

8.13 Excluded Assets. To ensure that a Lien and security interest is granted on assets or property otherwise excluded from Collateral
under the definition of “Excluded Assets”, each Grantor shall, if reasonably requested by any Agent, use its commercially reasonable efforts to obtain any required Governmental Approvals or other consents from any Person with respect to
any material license or material Equipment lease with such Person entered into by such Grantor that requires such Governmental Approval or consent as a condition to the creation by such Grantor of a Lien on any right, title or interest in such
license or Equipment lease. 
 8.14 Intellectual Property License. For the sole purpose of enabling Administrative Agent to exercise
rights and remedies under this this Agreement and the other Loan Documents (including, without limitation, in order to take possession of, collect, receive, assemble, process, appropriate, remove, realize upon, sell, assign, convey, transfer or
grant options to purchase any Collateral) at such time as Administrative 

  
 31 

 
Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to Administrative Agent, for the benefit of the Secured Parties, (i) an irrevocable,
nonexclusive, worldwide license (exercisable without payment of royalty or other compensation to such Grantor), including in such license the right to sublicense (to the extent such sublicense is not subject to an enforceable restriction pursuant to
a license agreement to which such Grantor is a party), use and practice any Intellectual Property and all Excluded Intellectual Property now owned or hereafter acquired by such Grantor or now or hereafter licensed to such Grantor and access to all
media in which any of the licensed items may be recorded or stored and to all Software and programs used for the compilation or printout thereof (subject, in the case of Trademarks, to sufficient rights to quality control and inspection in favor of
such Grantor to avoid the risk of invalidation of said Trademarks, to use, operate under, license, or sublicense any Intellectual Property now owned or hereafter acquired by the Grantors), and (ii) an irrevocable license (without payment of
rent or other compensation to such Grantor) to use, operate and occupy all equipment and real property owned, operated, leased, subleased or otherwise occupied by such Grantor. 

8.15 Acknowledgements. Each Grantor hereby acknowledges that: 

(a) it has been advised by counsel in the negotiation, execution and delivery of this Agreement and the other Loan Documents to which it is a
party; 
 (b) neither the Administrative Agent nor any other Secured Party has any fiduciary relationship with or duty to any Grantor
arising out of or in connection with this Agreement or any of the other Loan Documents, and the relationship between the Grantors, on the one hand, and the Administrative Agent and the other Secured Parties, on the other hand, in connection herewith
or therewith is solely that of debtor and creditor; and 
 (c) no joint venture is created hereby or by the other Loan Documents or
otherwise exists by virtue of the transactions contemplated hereby among any of the Secured Parties or among the Grantors and any of the Secured Parties. 

8.16 Additional Grantors. Each Subsidiary of a Grantor that is required to become a party to this Agreement pursuant to
Section 6.12 of the Credit Agreement shall become a Grantor for all purposes of this Agreement upon execution and delivery by such Subsidiary of an Assumption Agreement in the form of Annex 1 hereto. 

8.17 Releases. 
 (a) Upon
the Discharge of Obligations, the Collateral shall be released from the Liens in favor of the Administrative Agent and the other Secured Parties created hereby, this Agreement shall terminate with respect to the Administrative Agent and the other
Secured Parties, and all obligations (other than those expressly stated to survive such termination) of each Grantor to the Administrative Agent or any other Secured Party hereunder shall terminate, all without delivery of any instrument or
performance of any act by any party. At the sole expense of any Grantor following any such termination, the Administrative Agent shall promptly deliver such documents as such Grantor shall reasonably request to evidence such termination. 

(b) If any of the Collateral shall be sold, transferred or otherwise disposed of by any Grantor to a Person that is not a Grantor in a
transaction permitted by Section 7 of the Credit Agreement, (a) such Collateral shall, upon such sale, transfer or disposition, automatically be released from the Liens created hereby on such Collateral, and (b) then the
Administrative Agent, at the request and sole expense of such Grantor, shall promptly execute and deliver to such Grantor all releases or other documents reasonably necessary or desirable for the release of the Liens created hereby on such
Collateral, as applicable. At the request and sole expense of the Borrower, a Guarantor shall be released from its obligations hereunder in the 

  
 32 

 
event that all the Capital Stock of such Guarantor shall be sold, transferred or otherwise disposed of to a Person other than a Grantor in a transaction permitted by Section 7 of the
Credit Agreement; provided that the Borrower shall have delivered to the Administrative Agent, at least ten days, or such shorter period as the Administrative Agent may agree, prior to the date of the proposed release, a written request for
release identifying the relevant Guarantor and the terms of the sale or other disposition in reasonable detail, including the price thereof and any expenses in connection therewith, together with a certification by the Borrower stating that such
transaction is in compliance with terms and provisions of the Credit Agreement and the other Loan Documents. 
 8.18 WAIVER OF JURY
TRIAL. EACH GRANTOR AND THE ADMINISTRATIVE AGENT EACH HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY COUNTERCLAIM THEREIN. 

8.19 Amendment and Restatement of Existing Guarantee Agreement. This Agreement amends, restates, supersedes, and replaces in its
entirety the Existing Guarantee Agreement. The security interest granted by each Grantor in the “Collateral” under and as defined in the Existing Guarantee Agreement continues without interruption under this Agreement and such security
interest is hereby ratified and confirmed in all respects. Nothing contained herein shall be construed as a novation or termination of the obligations outstanding under the Existing Guarantee Agreement, which shall remain in all respects continuing
and in full force and effect, except as modified hereby. Nothing express or implied in this Agreement shall be construed as a release or discharge of any Grantor under the Existing Guarantee Agreement. 

8.20 Intercreditor Agreement. In the event of any inconsistency between the provisions of this Agreement and the Intercreditor
Agreement, the provisions of the Intercreditor Agreement shall supersede the provisions of this Agreement. The Administrative Agent, for itself and on behalf of the other Secured Parties, acknowledges and agrees that any provision of this Agreement
to the contrary notwithstanding, no Grantor shall be required to act or refrain from acting, and the Administrative Agent and Lenders will not knowingly direct any Grantor to take any action or omit to take any action, with respect to any Collateral
in a manner that is inconsistent with the terms and provisions of the Intercreditor Agreement. 
 [remainder of page intentionally left
blank] 

  
 33 

 IN WITNESS WHEREOF, each of the undersigned has caused this Guarantee and Collateral Agreement to
be duly executed and delivered as of the date first above written. 
  

			
	 GRANTORS:
  

FITBIT, INC.

		
	By:		  

	Name:		  

	Title:		  

	
	FITBIT INTERNATIONAL, LLC
		
	By:		  

	Name:		  

	Title:		  

 Signature Page 1 to Guarantee and Collateral Agreement 

 
			
	 ADMINISTRATIVE AGENT:
  

SILICON VALLEY BANK

		
	By:		  

	Name:		  

	Title:		  

 Signature Page 2 to Guarantee and Collateral Agreement 

 SCHEDULE 1 

NOTICE ADDRESSES OF GUARANTORS 
  

			
	 Guarantor
	 	 Notice Address

  
 Schedule 1 

 SCHEDULE 2 

DESCRIPTION OF INVESTMENT PROPERTY 
  

									
	Pledged Stock:
					
	 Grantor
	  	Issuer	  	Class of Capital Stock	  	Certificate No.	  	No. of Shares /Units
					
	Pledged Notes:	  		  		  		  	
					
	 Grantor
	  	Issuer	  	Date of Issuance	  	Payee	  	Principal Amount
	
	Securities Accounts:
					
	 Grantor
	  	Securities Intermediary	  	Address	  	 	  	Account Number(s)
	
	Commodity Accounts:
					
	 Grantor
	  	Commodities Intermediary	  	Address	  	 	  	Account Number(s)
	
	Deposit Accounts:
					
	 Grantor
	  	Depositary Bank	  	Address	  	 	  	Account Number(s)

  
 Schedule 2 

 SCHEDULE 3 

FILINGS AND OTHER ACTIONS 

REQUIRED TO PERFECT SECURITY INTERESTS 

Uniform Commercial Code Filings 
  

	1.	UCC Financing Statement naming FitBit, Inc., as “debtor” and the Administrative Agent as “secured party” to be filed with the Secretary of State of the State of Delaware. 

 

	2.	UCC Financing Statement naming FitBit International, LLC as “debtor” and the Administrative Agent as “secured party” to be filed with the Secretary of State of the State of Delaware.

 Other Actions 

[                    ] 

  
 Schedule 3 

 SCHEDULE 4 

LOCATION OF JURISDICTION OF ORGANIZATION, 

CHIEF EXECUTIVE OFFICE AND LOCATION OF BOOKS 
  

									
	 Grantor
	 	 Jurisdiction of

Organization
	 	 Organizational

Identification
 Number
	 	 Location of Chief

Executive Office
	 	 Location of Books

  
 Schedule 4 

 SCHEDULE 5 

LOCATIONS OF EQUIPMENT AND INVENTORY 
  

			
	 Grantor
	 	 Address Location

  
 Schedule 5 

 SCHEDULE 6 

RIGHTS OF THE GRANTORS RELATING TO PATENTS 

Issued Patents of [NAME OF GRANTOR] 
  

									
	 Jurisdiction
	  	 Patent No.
	  	 Issue Date
	  	 Inventor
	  	 Title

Pending Patent Applications of [NAME OF GRANTOR] 
  

									
	 Jurisdiction
	  	 Serial No.
	  	 Filing Date
	  	 Inventor
	  	 Title

Issued Patents and Pending Patent Applications Licensed to [NAME OF GRANTOR] 

[                       
     ] 

  
 Schedule 6 

 RIGHTS OF THE GRANTORS RELATING TO TRADEMARKS 

Registered Trademarks of [NAME OF GRANTOR] 
  

											
	 Jurisdiction
	  	 Registration No.
	  	 Registration

Date
	  	 Filing Date
	  	 Registered Owner
	  	 Mark

Pending Trademark Applications of [NAME OF GRANTOR] 
  

									
	 Jurisdiction
	  	 Application No.
	  	 Filing Date
	  	 Applicant
	  	 Mark

Registered Trademarks and Pending Trademark Applications Licensed to [NAME OF GRANTOR] 

[                       
                 ] 

  
 Schedule 6 

 RIGHTS OF THE GRANTORS RELATING TO COPYRIGHTS 

Registered Copyrights of [NAME OF GRANTOR] 
  

							
	 Jurisdiction
	  	 Registration No.
	  	 Registration Date
	  	 Work of Authorship

Pending Copyright Applications of [NAME OF GRANTOR] 
  

							
	 Jurisdiction
	  	 Application No.
	  	 Application Date
	  	 Work of Authorship

Registered Copyrights and Pending Copyright Applications Licensed to [NAME OF GRANTOR] 

[                       
                 ] 

  
 Schedule 6 

 SCHEDULE 7 

LETTER OF CREDIT RIGHTS 

  
 Schedule 7 

 SCHEDULE 8 

COMMERCIAL TORT CLAIMS 

  
 Schedule 8 

 ANNEX 1 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 ASSUMPTION
AGREEMENT 
 This ASSUMPTION AGREEMENT, dated as of
[                    ], is executed and delivered by
[                                        ] (the
“Additional Grantor”), in favor of SILICON VALLEY BANK, as administrative agent (in such capacity, the “Administrative Agent”) for the banks and other financial institutions or entities (the
“Lenders”) from time to time parties to that certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or
replaced from time to time, the “Credit Agreement”), by and among, among, among others, FITBIT, INC., a Delaware corporation (the “Borrower”), the Lenders party thereto and the Administrative Agent.
All capitalized terms not defined herein shall have the respective meanings ascribed to such terms in such Credit Agreement. 
 W
I T N E S S E T H: 
 WHEREAS, in connection with the Credit Agreement, the
Borrower and certain of its Affiliates (other than the Additional Grantor) have entered into that certain Amended and Restated Guarantee and Collateral Agreement, dated as of August 13, 2014, in favor of the Administrative Agent for the benefit
of the Secured Parties defined therein (as amended, amended and restated, supplemented, restructured or otherwise modified, renewed or replaced from time to time, the “Guarantee and Collateral Agreement”); 

WHEREAS, the Borrower is required, pursuant to Section 6.12 of the Credit Agreement to cause the Additional Grantor to become a
party to the Guarantee and Collateral Agreement in order to grant in favor of the Administrative Agent (for the ratable benefit of the Lenders) the Liens and security interests therein specified and provide its guarantee of the Obligations as
therein contemplated; and 
 WHEREAS, the Additional Grantor has agreed to execute and deliver this Assumption Agreement in order to become
a party to the Guarantee and Collateral Agreement; 
 NOW, THEREFORE, IT IS AGREED: 

1. Guarantee and Collateral Agreement. By executing and delivering this Assumption Agreement, the Additional Grantor, as provided in
Section 8.14 of the Guarantee and Collateral Agreement, (a) hereby becomes a party to the Guarantee and Collateral Agreement as both a “Grantor” and a “Guarantor” thereunder with the same force and effect as if
originally named therein as a Grantor and a Guarantor and, without limiting the generality of the foregoing, hereby expressly assumes all obligations and liabilities of a Grantor and a Guarantor thereunder, (b) hereby grants to the
Administrative Agent, for the benefit of the Secured Parties, as security for the Secured Obligations, a security interest in all of the Additional Grantor’s right, title and interest in any and to all Collateral of the Additional Grantor, in
each case whether now owned or hereafter acquired or in which the Additional Grantor now has or hereafter acquires an interest and wherever the same may be located, but subject in all respects to the terms, conditions and exclusions set forth in the
Guarantee and Collateral Agreement, and (c) jointly and severally, unconditionally and irrevocably, guarantees to the Administrative Agent, for the benefit of the Secured Parties and their respective successors, indorsees, transferees and
assigns, the prompt and complete payment and performance by the Borrowers and the other Loan Parties when due (whether at the stated maturity, by acceleration or otherwise) of the Secured Obligations. The information set forth in Schedule 1
hereto is hereby added to the information set forth in the Schedules to the Guarantee and Collateral Agreement. The Additional Grantor hereby represents and warrants that each of the representations and warranties contained in Section 4
of the Guarantee and Collateral Agreement (x) that is qualified by materiality is true and correct, and (y) that is not qualified by 

  
 Annex 1 

 
materiality, is true and correct in all material respects, in each case, on and as the date hereof (after giving effect to this Assumption Agreement) as if made on and as of such date (except to
the extent any such representation and warranty expressly relates to an earlier date, in which case such representation and warranty was true and correct in all material respects as of such earlier date). 

2. Governing Law. THIS ASSUMPTION AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAW
OF THE STATE OF NEW YORK. The provisions of Sections 8.11 and 8.12 of the Guarantee and Collateral Agreement are hereby incorporated by reference. 

3. Loan Document. This Assumption Agreement shall constitute a Loan Document under the Credit Agreement. 

IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed and delivered as of the date first above written.

  

			
	[ADDITIONAL GRANTOR]
		
	By:		  

	Name:		
	Title:		

  
 Annex 1 

 Schedule to 

Assumption Agreement 

Supplement to Schedule 1 

Supplement to Schedule 2 

Supplement to Schedule 3 

Supplement to Schedule 4 

Supplement to Schedule 5 

Supplement to Schedule 6 

Supplement to Schedule 7 

Supplement to Schedule 8 

  
 Annex 1 

 ANNEX 2 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 PLEDGE
SUPPLEMENT 
  

	To:	Silicon Valley Bank, as Administrative Agent 

  

	Re:	FITBIT, INC. 

 Date:
                     
 Ladies and Gentlemen: 

This Pledge Supplement (this “Pledge Supplement”) is made and delivered pursuant to Section 3.3(g) of that
certain Amended and Restated Guarantee and Collateral Agreement, dated as of August 13, 2014 (as amended, modified, renewed or extended from time to time, the “Guarantee and Collateral Agreement”), among each Grantor
party thereto (each a “Grantor” and collectively, the “Grantors”), and Silicon Valley Bank (the “Administrative Agent”). All capitalized terms used in this Pledge Supplement and
not otherwise defined herein shall have the meanings assigned to them in either the Guarantee and Collateral Agreement or the Credit Agreement (as defined in the Guarantee and Collateral Agreement), as the context may require. 

The undersigned,
                                        
[insert name of Grantor],
                                         a
[corporation, partnership, limited liability company, etc.], confirms and agrees that all Pledged Collateral of the undersigned, including the property described on the supplemental schedule 

attached hereto, shall be and become part of the Pledged Collateral and shall secure all Secured Obligations. 

Schedule 2 to the Guarantee and Collateral Agreement is hereby amended by adding to such Schedule 2 the information set forth in
the supplement attached hereto. 
 This Pledge Supplement shall constitute a Loan Document under the Credit Agreement. 

THIS PLEDGE SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. The provisions of
Sections 8.11 and 8.12 of the Guarantee and Collateral Agreement are hereby incorporated by reference. 
 IN WITNESS WHEREOF,
the undersigned has executed this Pledge Supplement, as of the date first above written. 
  

			
	[NAME OF APPLICABLE GRANTOR]
		
	By:		  

	Name:		  

	Title:		  

  
 Annex 2 

 SUPPLEMENT TO ANNEX 2 

TO THE SECURITY AGREEMENT 
  

									
	 Name of Subsidiary
	 	 Number of Units/Shares

Owned
	 	 Certificate(s) Numbers
	 	 Date Issued
	 	 Class or Type of

or Shares

  
 Annex 1 

 ANNEX 3 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 COPYRIGHT
SECURITY AGREEMENT 
 This COPYRIGHT SECURITY AGREEMENT, dated as of [—] (as
it may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors on the signature pages hereto (collectively, the “Grantors”) in
favor of SILICON VALLEY BANK (“SVB”), as administrative agent for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Administrative Agent”) 

WHEREAS, reference is made to that certain Amended and Restated Credit Agreement, dated as of the date hereof (as amended, restated,
supplemented or modified from time to time, the “Credit Agreement”), by and among (a) FitBit, Inc., as Borrower, (b) the Lenders party thereto, (c) the Administrative Agent, SVB and SunTrust Bank
(“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (d) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication
agents for the Lenders, and (e) SVB, SunTrust Robinson Humphrey, Inc. and Morgan Stanley, as co-lead arrangers and joint bookrunners; and 

WHEREAS, the Grantors are party to an Amended and Restated Guarantee and Collateral Agreement, dated as of the date hereof (the
“Security Agreement”), by and among each of the Grantors and the other grantors party thereto and the Administrative Agent pursuant to which the Grantors granted a security interest to the Administrative Agent in the Trademark
Collateral (as defined below) and are required to execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Grantors hereby agree with the Administrative Agent as follows: 

SECTION 1. Defined Terms 
 Unless
otherwise defined or stated herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest 

SECTION 2.1 Grant of Security. Each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following, in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located
(collectively, the “Copyright Collateral”): 
 all United States, and foreign copyrights (whether or not the underlying
works of authorship have been published), including but not limited to copyrights in software and all rights in and to databases, all designs (including but not limited to industrial designs, Protected Designs and Community designs), and all Mask
Works (as defined under 17 U.S.C. 901 of the U.S. Copyright Act), whether registered or unregistered, as well as all moral rights, reversionary interests, and termination rights, and, with respect to any and all of the foregoing: (i) all
registrations and applications therefor including, without limitation, the registrations and applications listed or required to be listed in Schedule A attached hereto, (ii) all extensions and renewals thereof, (iii) the right to
sue or otherwise recover for any past, present and future infringement or other violation thereof, (iv) all Proceeds of the foregoing, including, without limitation, license fees, royalties, 

  
 Annex 3 

 
income, payments, claims, damages and proceeds of suit now or hereafter due and/or payable with respect thereto, and (v) all other rights of any kind accruing thereunder or pertaining
thereto throughout the world; and 
 any and all agreements, licenses and covenants providing for the granting of any exclusive right to
such Grantor in or to any registered Copyright including, without limitation, each agreement required to be listed in Schedule A attached hereto, and the right to sue or otherwise recover for past, present and future infringement or other
violation or impairment thereof, including the right to receive all Proceeds therefrom, including without limitation license fees, royalties, income, payments, claims, damages and proceeds of suit, now or hereafter due and/or payable with respect
thereto. 
 SECTION 2.2 Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Copyright
Collateral include or the security interest granted under Section 2.1 hereof attach to any Excluded Assets. Each Grantor hereby represents and warrants that Schedule A does not contain any Excluded Assets. 

SECTION 3. Security Agreement 
 The
security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Administrative Agent for the Secured Parties pursuant to the Security Agreement, and the Grantors hereby acknowledge and affirm
that the rights and remedies of the Administrative Agent with respect to the security interest in the Copyright Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated
by reference herein as if fully set forth herein. In the event that any provision of this Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 

SECTION 4. Termination 
 Upon the payment
in full of all Obligations, the cancellation or termination of the Commitments and the cancellation, expiration, posting of backstop letters of credit or cash collateralization of all outstanding Letters of Credit satisfactory to the Issuing Bank of
such Letters of Credit, the security interest granted hereby shall automatically terminate hereunder and of record and all rights to the Copyright Collateral shall revert to the Grantors. Upon any such termination the Administrative Agent shall, at
the Grantors’ expense, execute and deliver to the Grantors or otherwise authorize the filing of such documents as the Grantors shall reasonably request to evidence such termination. 

SECTION 5. Governing Law 
 THIS AGREEMENT
AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE
EFFECT OF PERFECTION OF THE SECURITY INTEREST). 

  
 Annex 3 

 SECTION 6. Counterparts 

This Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

[Remainder of page intentionally left blank] 

  
 Annex 3 

 IN WITNESS WHEREOF, the parties have caused this Copyright Security Agreement to be duly executed
by its officers thereunto duly authorized as of the first date written above. 
  

			
	GRANTOR:
	
	FITBIT, INC.
		
	By:		  

	Title:		  

  
 Annex 3 

 
			
	ADMINISTRATIVE AGENT:
	
	SILICON VALLEY BANK
		
	By:		  

	Title:		  

 SCHEDULE A 

to 
 COPYRIGHT SECURITY
AGREEMENT 
 COPYRIGHT REGISTRATIONS AND APPLICATIONS 

Registrations 
  

					
	 Title
	 	 Registration No.
	 	 Registration Date

	     
	 		 	

 Applications 
  

					
	 Title
	 	 Application No.
	 	 Filing Date

		 		 	

  
 7 

 ANNEX 4 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 TRADEMARK
SECURITY AGREEMENT 
 This TRADEMARK SECURITY AGREEMENT, dated as of [—] (as
it may be amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors on the signature pages hereto (collectively, the “Grantors”) in
favor of SILICON VALLEY BANK (“SVB”), as administrative agent for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Administrative Agent”). 

WHEREAS, reference is made to that certain Amended and Restated Credit Agreement, dated as of the date hereof (as amended, restated,
supplemented or modified from time to time, the “Credit Agreement”), by and among (a) FitBit, Inc., as Borrower, (b) the Lenders party thereto, (c) the Administrative Agent, SVB and SunTrust Bank
(“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (d) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication
agents for the Lenders, and (e) SVB, SunTrust Robinson Humphrey, Inc. and Morgan Stanley, as co-lead arrangers and joint bookrunners; and 

WHEREAS, the Grantors are party to an Amended and Restated Guarantee and Collateral Agreement, dated as of the date hereof (the
“Security Agreement”), by and among each of the Grantors and the other grantors party thereto and the Administrative Agent pursuant to which the Grantors granted a security interest to the Administrative Agent in the Trademark
Collateral (as defined below) and are required to execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Grantors hereby agree with the Administrative Agent as follows: 

SECTION 1. Defined Terms 
 Unless
otherwise defined or stated herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest in Trademark Collateral 

SECTION 2.1 Grant of Security. Each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following, in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located
(collectively, the “Trademark Collateral”): 
 all United States, and foreign trademarks, trade names, trade dress,
corporate names, company names, business names, fictitious business names, Internet domain names, service marks, certification marks, collective marks, logos, other source or business identifiers, designs and general intangibles of a like nature,
whether or not registered, and with respect to any and all of the foregoing: (i) all registrations and applications therefor including, without limitation, the registrations and applications listed or required to be listed in Schedule A
attached hereto, (ii) all extensions or renewals of any of the foregoing, (iii) all of the goodwill of the business connected with the use of and symbolized by any of the foregoing, (iv) the right to sue or otherwise recover for any
past, present and future infringement, dilution or other violation of any of the foregoing or for any injury to the related goodwill, (v) all 

  
 8 

 
Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect
thereto, and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 
 SECTION 2.2
Certain Limited Exclusions. Notwithstanding anything herein to the contrary, in no event shall the Trademark Collateral include or the security interest granted under Section 2.1 hereof attach to any Excluded Assets. Each Grantor
hereby represents and warrants that Schedule A does not contain any Excluded Assets. 
 SECTION 3. Security Agreement 

The security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Administrative
Agent for the Secured Parties pursuant to the Security Agreement, and the Grantors hereby acknowledge and affirm that the rights and remedies of the Administrative Agent with respect to the security interest in the Trademark Collateral made and
granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by reference herein as if fully set forth herein. In the event that any provision of this Agreement is deemed to conflict with the
Security Agreement, the provisions of the Security Agreement shall control. 
 SECTION 4. Termination 

Upon the payment in full of all Obligations, the cancellation or termination of the Commitments and the cancellation, expiration, posting of
backstop letters of credit or cash collateralization of all outstanding Letters of Credit satisfactory to the Issuing Bank of such Letters of Credit, the security interest granted hereby shall automatically terminate hereunder and of record and all
rights to the Trademark Collateral shall revert to the Grantors. Upon any such termination the Administrative Agent shall, at the Grantors’ expense, execute and deliver to the Grantors or otherwise authorize the filing of such documents as the
Grantors shall reasonably request to evidence such termination. 
 SECTION 5. Governing Law 

THIS AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT MATTER
HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE
APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE EFFECT OF PERFECTION OF THE SECURITY INTEREST). 

SECTION 6. Counterparts 
 This Agreement
may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which when so executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same
instrument. 
 [Remainder of page intentionally left blank] 

  
 9 

 IN WITNESS WHEREOF, the parties have caused this Trademark Security Agreement to be duly executed
by its officers thereunto duly authorized as of the first date written above. 
  

			
	GRANTOR:
	
	FITBIT, INC.
		
	By:		  

	Title:		  

 Signature Page to Trademark Security Agreement 

 
			
	ADMINISTRATIVE AGENT:
	
	SILICON VALLEY BANK
		
	By:		  

	Title:		  

 Signature Page to Trademark Security Agreement 

 SCHEDULE A 

to 
 TRADEMARK SECURITY
AGREEMENT 
 TRADEMARK REGISTRATIONS AND APPLICATIONS 

 

											
	 Mark
	  	Appl. No.	  	Appl. Date	  	Registration No.	  	Registration Date	  	Owner
	     
	  		  		  		  		  	

 ANNEX 5 TO 

GUARANTEE AND COLLATERAL AGREEMENT 

FORM OF 
 PATENT SECURITY
AGREEMENT 
 This PATENT SECURITY AGREEMENT, dated as [—] (as it may be
amended, restated, supplemented or otherwise modified from time to time, this “Agreement”), is made by the entities identified as grantors on the signature pages hereto (collectively, the “Grantors”) in favor of
SILICON VALLEY BANK (“SVB”), as administrative agent for the Secured Parties (in such capacity, together with its successors and permitted assigns, the “Administrative Agent”). 

WHEREAS, reference is made to that certain Amended and Restated Credit Agreement, dated as of the date hereof (as amended, restated,
supplemented or modified from time to time, the “Credit Agreement”), by and among (a) FitBit, Inc., as Borrower, (b) the Lenders party thereto, (c) the Administrative Agent, SVB and SunTrust Bank
(“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (d) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication
agents for the Lenders, and (e) SVB, SunTrust Robinson Humphrey, Inc. and Morgan Stanley, as co-lead arrangers and joint bookrunners; and 

WHEREAS, the Grantors are party to an Amended and Restated Guarantee and Collateral Agreement, dated as of the date hereof (the
“Security Agreement”), by and among each of the Grantors and the other grantors party thereto and the Administrative Agent pursuant to which the Grantors granted a security interest to the Administrative Agent in the Patent
Collateral (as defined below) and are required to execute and deliver this Agreement. 
 NOW, THEREFORE, in consideration of the
foregoing and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Grantors hereby agree with the Administrative Agent as follows: 

SECTION. 1. Defined Terms 
 Unless
otherwise defined or stated herein, terms defined in the Security Agreement and used herein have the meaning given to them in the Security Agreement. 

SECTION 2. Grant of Security Interest 

SECTION 2.1 Grant of Security. Each Grantor hereby grants to the Administrative Agent, for the benefit of the Secured Parties, a
security interest in and continuing lien on all of such Grantor’s right, title and interest in, to and under the following, in each case whether now owned or existing or hereafter acquired, developed, created or arising and wherever located
(collectively, the “Patent Collateral”): 
 all United States and foreign patents and certificates of invention, or
similar industrial property rights, and applications for any of the foregoing, including, but not limited to: (i) each patent and patent application listed or required to be listed in Schedule A attached hereto, (ii) all reissues,
divisions, continuations, continuations-in-part, extensions, renewals, and reexaminations thereof, (iii) all patentable inventions and improvements thereto, (iv) the right to sue or otherwise recover for any past, present and future
infringement or other violation thereof, (v) all Proceeds of the foregoing, including, without limitation, license fees, royalties, income, payments, claims, damages, and proceeds of suit now or hereafter due and/or payable with respect
thereto, and (vi) all other rights of any kind accruing thereunder or pertaining thereto throughout the world. 

 SECTION 2.2 Certain Limited Exclusions. Notwithstanding anything herein to the contrary,
in no event shall the Patent Collateral include or the security interest granted under Section 2.1 hereof attach to any Excluded Assets. Each Grantor hereby represents and warrants that Schedule A does not contain any Excluded Assets.

 SECTION 3. Security Agreement 
 The
security interest granted pursuant to this Agreement is granted in conjunction with the security interest granted to the Administrative Agent for the Secured Parties pursuant to the Security Agreement, and the Grantors hereby acknowledge and affirm
that the rights and remedies of the Administrative Agent with respect to the security interest in the Patent Collateral made and granted hereby are more fully set forth in the Security Agreement, the terms and provisions of which are incorporated by
reference herein as if fully set forth herein. In the event that any provision of this Agreement is deemed to conflict with the Security Agreement, the provisions of the Security Agreement shall control. 

SECTION 4. Termination 
 Upon the payment
in full of all Obligations, the cancellation or termination of the Commitments and the cancellation, expiration, posting of backstop letters of credit or cash collateralization of all outstanding Letters of Credit satisfactory to the Issuing Bank of
such Letters of Credit, the security interest granted hereby shall automatically terminate hereunder and of record and all rights to the Patent Collateral shall revert to the Grantors. Upon any such termination the Administrative Agent shall, at the
Grantors’ expense, execute and deliver to the Grantors or otherwise authorize the filing of such documents as the Grantors shall reasonably request to evidence such termination. 

SECTION 5. Governing Law 
 THIS AGREEMENT
AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER AND ALL CLAIMS AND CONTROVERSIES ARISING OUT OF THE SUBJECT MATTER HEREOF WHETHER SOUNDING IN CONTRACT LAW, TORT LAW OR OTHERWISE SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO CONFLICTS OF LAW PROVISIONS THAT WOULD RESULT IN THE APPLICATION OF ANY OTHER LAW (OTHER THAN ANY MANDATORY PROVISIONS OF LAW RELATING TO THE LAW GOVERNING PERFECTION AND THE
EFFECT OF PERFECTION OF THE SECURITY INTEREST). 
 SECTION 6. Counterparts 

This Agreement may be executed in one or more counterparts and by different parties hereto in separate counterparts, each of which when so
executed and delivered shall be deemed an original, but all such counterparts together shall constitute but one and the same instrument. 

[Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the parties have caused this Patent Security Agreement to be duly executed by
its officers thereunto duly authorized as of the first date written above. 
  

			
	GRANTOR:
	
	FITBIT, INC.
		
	By:		  

	Title:		  

 [SIGNATURE PAGE TO PATENT SECURITY AGREEMENT] 

 
			
	ADMINISTRATIVE AGENT:
	
	SILICON VALLEY BANK
		
	By:		  

	Title:		  

 SCHEDULE A 

to 
 PATENT SECURITY
AGREEMENT 
 PATENTS AND PATENT APPLICATIONS 

Patents 
  

													
	 Patent
	  	Status	  	Appl. No.	  	Appl. Date	  	Patent No.
(Publ. No.)	  	Reg. Date
(Publ. Date)	  	Current
Owner
		  		  		  		  		  		  	

  
  
  

 

  
 ii 

 EXHIBIT B 

FORM OF COMPLIANCE CERTIFICATE 

FITBIT, INC. 
 Date:
                     , 201     

This Compliance Certificate is delivered pursuant to Section 6.2(b)(ii) of that certain Amended and Restated Credit Agreement,
dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”), among (a) FitBit, Inc., a Delaware
corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the “Administrative
Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust and
Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint
bookrunners. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

The undersigned, a duly authorized and acting Responsible Officer of the Borrower, hereby certifies, in his/her capacity as an officer of the
Borrower, and not in any personal capacity, as follows: 
 I have reviewed and am familiar with the contents of this Compliance Certificate.

 I have reviewed the terms of the Credit Agreement and the other Loan Documents and have made, or caused to be made under my supervision,
a review in reasonable detail of the transactions and condition of the Borrower and its Subsidiaries during the accounting period covered by the financial statements attached hereto as Attachment 1 (the “Financial
Statements”). Except as set forth on Attachment 2, such review did not disclose the existence during or at the end of the accounting period covered by the Financial Statements, and I have no knowledge of the existence as of the
date of this Compliance Certificate, of any condition or event which constitutes a Default or an Event of Default. 
 Attached hereto as
Attachment 3 are the computations showing compliance with the covenants set forth in Section 7.1 of the Credit Agreement. 

To the extent not previously disclosed to the Administrative Agent, attached hereto as Attachment 4 is a description of any change in
the jurisdiction of organization of any Loan Party. 
 To the extent not previously disclosed to the Administrative Agent, attached hereto
as Attachment 5 is a list of any patents, registered trademarks or registered copyrights issued to or acquired by any Loan Party since the date of the most recent report delivered. 

[After giving after giving pro forma effect to the Increase and the use of proceeds thereof on the date hereof, the Borrower has
satisfied the requirements set forth in Section 2.12(b)(v) of the Credit Agreement. Attached hereto as Attachment 6 are calculations demonstrating compliance with the requirements of Section 2.12(b)(v) of the Credit
Agreement.]1 
 [Remainder of page intentionally left blank; signature page follows]

  

	1 	For use in connection with an Increase. 

  
 Exhibit B 

 IN WITNESS WHEREOF, I have executed this Compliance Certificate as of the date first written
above. 
  

			
	FITBIT, INC.
		
	By:		  

	Name:		  

	Title:		  

 Attachment 1 

to Compliance Certificate 
 [Attach
Financial Statements] 

  
 Attachment 1 

 Attachment 2 

to Compliance Certificate 
 Except
as set forth below, no Default or Event of Default has occurred. [If a Default or Event of Default has occurred, the following describes the nature of the Default or Event of Default in reasonable detail and the steps, if any, being taken or
contemplated by the Borrower to be taken on account thereof.] 

  
 Attachment 2 

 Attachment 3 

to Compliance Certificate 

Preliminary Note to Compliance Certificate Calculations 
  

	I.	Section 7.1(a) — Consolidated Fixed Charge Coverage Ratio 

 The
information described in this Section I is as of [                    ], [        ] (the
“Statement Date”), and pertains to the Subject Period defined below, as applicable. 
  

											
	A.		Consolidated EBITDA for the Subject Period:2		
			
			(“Subject Period” means the four fiscal quarter period ending on the Statement Date)		
				
			1. Consolidated Net Income for the Subject Period:		$		                    
				
			 2. The sum, without duplication, of the following amounts of Borrower and its consolidated Subsidiaries for the Subject Period to
the extent deducted in determining Consolidated Net Income for the Subject
 Period:
		$		                    
						
					(a)		Consolidated Interest Expense for the Subject Period:		$		                    
						
					(b)		Provision for income taxes for the Subject Period:		$		                    
						
					(c)		Depreciation expenses for the Subject Period:		$		                    
						
					(d)		Amortization expenses for the Subject Period:		$		                    
						
					(e)		reasonable costs, fees and expenses in connection with an initial public offering of the Capital Stock of the Borrower:		$		                    
						
					(f)		non-cash stock compensation expenses:		$		                    
						
					(g)		non-cash exchange, translation or performance losses relating to any foreign currency hedging transactions or currency fluctuations:		$		                    
						
					(h)		costs, fees and expenses (1) in connection with the execution and delivery of this Agreement and the other Loan Documents or (2) paid by any Group Member after the Closing Date in connection with its obligations under the Loan
Documents which are incurred not later than six (6) months after the Closing Date:		$		                    

 
  

	2 	Consolidated EBITDA for any period shall be determined on a Pro Forma Basis. 

  
 Attachment 3 

											
					(i)		one-time costs, fees, and expenses in connection with Permitted Acquisitions or other transactions that if closed, would have constituted a Permitted Acquisition:		$		                    
						
					(j)		non-cash purchase accounting adjustments (including, but not limited to deferred revenue write down) and any adjustments as required or permitted by the application of FASB 141 (requiring the use of purchase method of accounting for
acquisitions and consolidations), FASB 142 (relating to changes in accounting for the amortization of good will and certain other intangibles) and FASB 144 (relating to the write downs of long-lived assets), in each case, in connection with
Permitted Acquisitions:		$		                    
						
					(k)		non-cash charges for goodwill and other intangible write-offs and write-downs in connection with Permitted Acquisitions or otherwise:		$		                    
						
					(l)		other non-cash or non-recurring items reducing Consolidated Net Income (excluding any such non-cash item to the extent that it represents an accrual or reserve for potential cash items in any future period or amortization of a
prepaid cash item that was paid in a prior period) approved by the Administrative Agent and the Required Lenders in writing as an ‘add back’ to Consolidated EBITDA:		$		                    
						
					(m)		charges and expenses related to the recall of the “FitBit Force,” and other cash and non-cash items reducing Consolidated Net Income associated therewith (including costs and expenses associated with related litigation,
claims and administrative proceedings) in an aggregate amount not to exceed $ 84,600,000 for the fiscal quarter ended December 31, 2013 and $ 27,900,000 for the fiscal quarter ended March 31, 2014:		$		                    
				
			3. The sum, without duplication, of the following amounts of Borrower and its consolidated Subsidiaries for the Subject Period to the extent included in determining Consolidated Net Income for the Subject Period:		$		                    
						
					(a)		the amounts for such period of (i) other non-cash items increasing Consolidated Net Income for such period (excluding any such non-cash item to the extent it represents the reversal of an accrual or reserve for potential cash
item in any prior period):		$		                    
						
					(b)		interest income:		$		                    
						
			4.				Consolidated EBITDA for the Subject Period				
							(Lines I.A.1 plus I.A.2 minus I.A.3):		$		                    
				
	B.		Taxes based on income actually paid or required to be paid by the				

  
 Attachment 3 

											
					Borrower and its Subsidiaries in cash during the Subject Period (net of any cash refunds received but only to the extent such adjustment would not result in a negative number):		$		                    
					
	C.				Cash dividends and distributions paid to any Person that is not a Loan Party during the Subject Period:		$		                    
					
	D.				Consolidated Capital Expenditures for the Subject Period (other than Capital Expenditures to the extent financed with the proceeds of Indebtedness (other than proceeds of Loans)):		$		                    
					
	E.				Consolidated Fixed Charges for the Subject Period:				
						
					1.		Consolidated Interest Expense accrued for the Subject Period (other than interest paid-in-kind, amortization of financing fees, and other non-cash Consolidated Interest Expense):		$		                    
						
					2.		Payments made or required to be paid during the Subject Period by the Borrower and its Subsidiaries on account of principal of Indebtedness of the Borrower and its Subsidiaries (excluding Loans to the extent the Borrower has the
right to continue or convert such Loans pursuant to Section 2.13 of the Credit Agreement):		$		                    
						
					3.		Consolidated Fixed Charges for the Subject Period				
						
							(Lines I.E.1+I.E.2) (without duplication):		$		                    
				
	F.				Consolidated Fixed Charge Coverage Ratio for the Subject Period (ratio of Lines (I.A.8 minus I.B minus I.C. minus 1.D.) to I.E.3):3		             to 1
				
					Minimum required:		1.1 to 1
					
					Covenant compliance: Yes   ̈    No   ̈				

  

	II.	Section 7.1(b) — Consolidated Leverage Ratio 

 The information described in this
Section I is as of [                    ], [        ] (the “Statement Date”), and
pertains to the Subject Period defined below, as applicable. 
  

											
					A.		Consolidated EBITDA for the Subject Period (from Line I.A.8 above):		$		                    
						
					B.		Consolidated Total Indebtedness:		$		                    
					
					C.		Consolidated Leverage Ratio for the Subject Period (ratio of Lines II.A.8 to I.B):		             to 1

 
  

	3 	[Components to be annualized in accordance with the Credit Agreement.] 

  
 Attachment 3 

 
													
						
							Maximum allowed:		             to 1		
							
							Covenant compliance:
    Yes   ̈        No   ̈						

 III. Section 7.1(c) — Minimum Liquidity 

 

															
					Minimum required at all times:		$	15,000,000	  		
					
					Covenant compliance						
					
					since the [Closing Date]4
    Yes   ̈        No   ̈						
					
					 [prior Statement Date]5:
						

  
  

	4 	Use for the first Compliance Certificate after the Closing Date. 

	5 	Use for all subsequent Compliance Certificates. 

  
 Attachment 3 

 Attachment 4 

to Compliance Certificate 

Change in the Jurisdiction of Organization of any Loan Party 

  
 Attachment 4 

 Attachment 5 

to Compliance Certificate 

Patents, Registered Trademarks or Registered Copyrights 

  
 Attachment 5 

 EXHIBIT C 

FORM OF [SECRETARY’S][MANAGING MEMBER’S] CERTIFICATE 

[NAME OF APPLICABLE LOAN PARTY] 

This Certificate is delivered pursuant to Section 5.1(e) of that certain Amended and Restated Credit Agreement, dated as of
August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”), among (a) FitBit, Inc., a Delaware corporation (the
“Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the “Administrative Agent”), (d) SVB and
SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan
Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. The undersigned [Secretary][Managing Member] of [the
Borrower][insert the name of the certifying Loan Party, a [            ] [corporation][limited liability company], the “Certifying Loan Party”)] hereby
certifies in his/her capacity as an officer of the Borrower, and not in any personal capacity, as follows: 
 1. The
representations and warranties of [the Borrower][the Certifying Loan Party] set forth in each of the Loan Documents to which it is a party or which are contained in any certificate furnished by or on behalf of [the Borrower][the Certifying Loan
Party] pursuant to any of the Loan Documents to which it is a party are, (i) to the extent qualified by materiality, true and correct, and (ii) to the extent not qualified by materiality, true and correct in all material respects, in each
case, on and as of the date hereof with the same effect as if made on the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been
true and correct in all material respects as of such earlier date. 
 2. I am the duly elected and qualified
[Secretary][Managing Member] of [the Borrower][the Certifying Loan Party]. 
 3. No Default or Event of Default has occurred
and is continuing as of the date hereof or after giving effect to the Loans to be made on the date hereof and the use of proceeds thereof. 

4. The conditions precedent set forth in Section 5.1, of the Credit Agreement were satisfied or waived, as
applicable, as of the Closing Date. 
 5. There are no liquidation or dissolution proceedings pending or, to my knowledge,
threatened against [the Borrower][the Certifying Loan Party], nor has any other event occurred which could be reasonably likely to materially adversely affect or threaten the continued [corporate][company] existence of [the Borrower][the Certifying
Loan Party]. 
 6. [The Borrower][The Certifying Loan Party] is a [corporation][limited liability company] duly
[incorporated][organized], validly existing and in good standing under the laws of the jurisdiction of its organization. 

7. Attached hereto as Annex 1 is a true and complete copy of the resolutions duly adopted by the Board of
[Directors][Managers] of [the Borrower][the Certifying Loan Party] authorizing the execution, delivery and performance of the Loan Documents to which [the 

  
 Exhibit C 

 
Borrower][the Certifying Loan Party] is a party and all other agreements, documents and instruments to be executed, delivered and performed in connection therewith. Such resolutions have not in
any way been amended, modified, revoked or rescinded, and have been in full force and effect since their adoption up to and including the date hereof and are now in full force and effect. 

8. Attached hereto as Annex 2 is a true and complete copy of the [By- Laws][Operating Agreement] of [the Borrower][the
Certifying Loan Party] as in effect on the date hereof. 
 9. Attached hereto as Annex 3 is a true and complete copy
of the Certificate of [Incorporation][Formation] of [the Borrower][the Certifying Loan Party] as in effect on the date hereof, along with a long-form good-standing certificate for [the Borrower][the Certifying Loan Party] from the jurisdiction of
its organization. 
 10. [For the Borrower – Attached hereto as Annex 4 is a true and complete copy of the Cash Flow
Credit Agreement, which has been duly executed by the Borrower on the date hereof.] 
 11. The following persons are now duly
elected and qualified officers of [the Borrower][the Certifying Loan Party] holding the offices indicated next to their respective names below, and the signatures appearing opposite their respective names below are the true and genuine signatures of
such officers, and each of such officers, acting alone, is duly authorized to execute and deliver on behalf of [the Borrower][the Certifying Loan Party] each of the Loan Documents to which it is a party and any certificate or other document to be
delivered by [the Borrower][the Certifying Loan Party] pursuant to the Loan Documents to which it is a party: 
  

					
	 Name
	 	 Office
	 	 Signature

	[                    ]	 	[                    ]	 	  

	[                    ]	 	[                    ]	 	  

	[                    ]	 	[                    ]	 	  

	[                    ]	 	[                    ]	 	  

 [Signature page follows] 

  
 Exhibit C 

 IN WITNESS WHEREOF, I have hereunto set my hand as of the date set forth below. 

 

			
	  

	Name:		  

	Title:		[Secretary][Managing Member]

 I,
[                    ], in my capacity as the
[                    ] of [the Borrower][the Certifying Loan Party], do hereby certify in the name and on behalf of [the Borrower][the Certifying
Loan Party] that [                    ] is the duly elected and qualified [Secretary][Managing Member] of [the Borrower][the Certifying Loan Party]
and that the signature appearing above is [her][his] genuine signature. 
  

					
			  

	Date: [                    ]		Name:		  

			Title:		  

  
 Exhibit C 

 ANNEX 1 

RESOLUTIONS 

  
 Exhibit C 

 ANNEX 2 

[BY-LAWS][OPERATING AGREEMENT] 

  
 Exhibit C 

 ANNEX 3 

[CERTIFICATE OF INCORPORATION][CERTIFICATE OF FORMATION] 

AND 
 GOOD-STANDING
CERTIFICATE 

  
 Exhibit C 

 EXHIBIT D 

FORM OF SOLVENCY CERTIFICATE 

FITBIT, INC. 
 Date:
                 , 2014 
 To the Administrative Agent, 

and each of the Lenders party 
 to the Credit Agreement referred
to below: 
 This SOLVENCY CERTIFICATE (this “Certificate”) is delivered pursuant to Section 5.1(p) of that
certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”), among
(a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the
“Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust
and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. Unless
otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. The undersigned Chief Financial Officer of the Borrower, in such capacity only and not in her/his
individual capacity, does hereby certify on behalf of each Loan Party as of the date hereof that: 
 1. For purposes of this Certificate,
the undersigned has, or officers of the Loan Parties under the direction and supervision of the undersigned have, performed the following procedures as of and for the periods set forth below. 

 

	 	(a)	Reviewed the financial statements referred to in Section 5.1(c) of the Credit Agreement. 

  

	 	(b)	Made inquiries of certain officials of the Loan Parties who have responsibility for legal, financial and accounting matters. 

  

	 	(c)	Reviewed, to the satisfaction of the undersigned, the Loan Documents and the respective Schedules and Exhibits thereto. 

3. Based on and subject to the foregoing, the undersigned Chief Financial Officer of the Borrower hereby certifies on behalf of each of the
Loan Parties that, on and as of the date hereof and after giving effect to the Loans made by the Lenders on the Closing Date, the initial borrowings on the Closing Date and the application of the proceeds thereof, it is my opinion that each Loan
Party is Solvent. 
 4. The Borrower does not intend, in receiving the Loans to be made on the Closing Date and the other transactions
contemplated by the Loan Documents, to delay, hinder, or defraud either present or future creditors. 
 (Signature page follows) 

  
 Exhibit D 

 I represent the foregoing information to be, to the best of my knowledge and belief, true and
correct and execute this Certificate as of the date first written above. 
  

			
	By:	 	  

	Name:	 	  

	
	as Chief Financial Officer of FitBit, Inc.

  
 Exhibit D 

 EXHIBIT E 

FORM OF ASSIGNMENT AND ASSUMPTION 

FITBIT, INC. 
 This
Assignment and Assumption Agreement (the “Assignment Agreement”) is dated as of the Assignment Effective Date set forth below and is entered into by and between the Assignor identified in item 1 below (the
“Assignor”) and the Assignee identified in item 2 below (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Credit Agreement identified below
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions
set forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment Agreement as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Assignment Effective Date inserted by the Administrative Agent as contemplated below (i) all of the
Assignor’s rights and obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of
such outstanding rights and obligations of the Assignor under the respective facilities identified below (including without limitation any letter of credit deposits, guarantees, and swingline loans included in such facilities) and (ii) to the
extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit
Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice
claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned by the Assignor to the Assignee pursuant to
clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Each such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment
Agreement, without representation or warranty by the Assignor. 
  

					
	1.		Assignor:		                                     
                       
			
					                                     
                       
			
	2.		Assignee:		                                     
                       
		
			[for Assignee, if applicable, indicate [Affiliate][Approved Fund] of [identify Lender]]
			
	3.		Borrower:		FITBIT, INC., a Delaware corporation
			
	4.		Administrative Agent:		SILICON VALLEY BANK
			
	5.		Credit Agreement:		Amended and Restated Credit Agreement, dated as of August 13, 2014, among (a) the Borrower, (b) the Lenders party thereto, (c) the Administrative Agent, (d) Silicon Valley Bank (“SVB”) and
SunTrust

  
 Exhibit E 

					
		 		  	Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan
Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners.
			
	6.	 	Assigned Interest[s]:	  	

  

																	
	 Assignor
	  	Assignee	  	Aggregate
Amount of
Commitment /
Loans for all
Lenders1	 	  	Amount of
Commitment /
Loans
Assigned2	 	  	Percentage
Assigned of
Commitment /
Loans3	 	 	CUSIP
Number
		  		  	$	            	  	  	$	            	  	  	 	            	% 	 	
		  		  	$	            	  	  	$	            	  	  	 	            	% 	 	
		  		  	$	            	  	  	$	            	  	  	 	            	% 	 	

  

					
			
	[7.	 	Trade Date: 	  	                        ]4

 Assignment Effective Date:
                         , 20     [TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND WHICH SHALL BE THE
ASSIGNMENT EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 [Signature pages follow] 

 
  

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

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

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

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

  
 Exhibit E 

 The terms set forth in this Assignment Agreement are hereby agreed to: 

 

			
	ASSIGNOR1
	[NAME OF ASSIGNOR]
		
	By:		  

	Name:		
	Title:		
	
	ASSIGNEE2
	[NAME OF ASSIGNEE]
		
	By:		  

	Name:		
	Title:		

  
  

	1 	Add additional signature blocks as needed. 

	2 	Add additional signature blocks as needed. 

  
 Exhibit E 

			
	[Consented to and ]Accepted:
	
	 SILICON VALLEY BANK,
 as
Administrative Agent

		
	By		  

	Name:		
	Title:		
	
	 Consented to:
  

[FITBIT, INC.

		
	By		  

	Name:		
	Title:]3		
	
	 [SILICON VALLEY BANK,
 as Issuing
Lender

		
	By		  

	Name:		
	Title:		
	
	 SILICON VALLEY BANK,
 as Swingline
Lender

		
	By		  

	Name:		
	Title:]		

  
  

	3 	Borrower does not have consent rights if a Default or Event of Default has occurred and is continuing or the applicable assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; provided that the
consent of the Borrower for an assignment to any Person that the Borrower reasonably classifies in writing as a competitor of the Borrower may be given or denied by the Borrower in its sole discretion; and provided, further, that the
Borrower shall be deemed to have consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within five Business Days after having received reasonably detailed written notice thereof.

  
 Exhibit E 

 ANNEX 1 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment Agreement and to consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of any Loan Party, any of
their respective Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by any Loan Party, any of their respective Subsidiaries or Affiliates or any other Person of any of
their respective obligations under any Loan Document or any other instrument or document furnished pursuant hereto or thereto. 
 1.2.
Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment Agreement and to consummate the transactions contemplated hereby
and to become a Lender under the Credit Agreement, (ii) it meets all the requirements to be an Assignee under Section 10.6(b) of the Credit Agreement (subject to such consents, if any, as may be required under
Section 10.6(b)(iii) of the Credit Agreement), (iii) from and after the Assignment Effective Date, it shall be bound by the provisions of the Credit Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall
have the obligations of a Lender thereunder, (iv) it is sophisticated with respect to decisions to acquire assets of the type represented by the Assigned Interest and either it, or the person exercising discretion in making its decision to
acquire the Assigned Interest, is experienced in acquiring assets of such type, (v) it has received a copy of the Credit Agreement, and has received or has been accorded the opportunity to receive copies of the most recent financial statements
delivered pursuant to Section 6.1 thereof, as applicable, and such other documents and information as it deems appropriate to make its own credit analysis and decision to enter into this Assignment Agreement and to purchase the Assigned
Interest, (vi) it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Assignment Agreement and to purchase the Assigned Interest, and (vii) if it is a Non-U.S. Lender, attached to the Assignment Agreement is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly
completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on any of the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents and (ii) it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents
are required to be performed by it as a Lender. 
 2. Payments. From and after the Assignment Effective Date, the Administrative
Agent shall make all payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Assignment

  
 Exhibit E 

 
Effective Date and to the Assignee for amounts which have accrued from and after the Assignment Effective Date. 

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

  
 Exhibit E 

 EXHIBIT F-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 
 Reference is made
to that certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”),
among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the
“Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust
and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. 

Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it
is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN.
By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have
at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years
preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings
given to them in the Credit Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused this certificate to be duly executed and delivered
by its proper and duly authorized signatory as of the day and year first written above. 
  

			
	[Name of Lender]
		
	By		  

	Name:		
	Title:		

  
 Exhibit F-1 

 EXHIBIT F-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 
 Reference is made
to that certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”),
among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the
“Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust and Morgan
Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. 

Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the
Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 

881(c)(3)(C) of the Code. 
 The
undersigned has furnished its participating Lender with a certificate of its non-U.S. Person status on IRS Form W-8BEN. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the
undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 IN WITNESS WHEREOF, the
undersigned has caused this certificate to be duly executed and delivered by its proper and duly authorized signatory as of the day and year first written above. 

 

			
	[Name of Participant]
		
	By		  

	Name:		
	Title:		

  
 Exhibit F-2 

 EXHIBIT F-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 
 Reference is made
to that certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”),
among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the
“Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust
and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. 

Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its
participating Lender with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an
IRS Form W- 8BEN from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms
defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 IN WITNESS WHEREOF, the
undersigned has caused this certificate to be duly executed and delivered by its proper and duly authorized signatory as of the day and year first written above. 

 

			
	[Name of Participant]
		
	By		  

	Name:		
	Title:		

  
 Exhibit F-3 

 EXHIBIT F-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships for U.S. Federal Income Tax Purposes) 

[Date] 
 Reference is made
to that certain Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”),
among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the
“Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (e) SunTrust and Morgan
Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners. 

Pursuant to the provisions of Section 2.20 of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any
Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit
pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower
within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W- 8IMY accompanied by one of the following forms from
each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN from each of such partner’s/member’s beneficial owners that is
claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative
Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the
undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 IN WITNESS WHEREOF, the undersigned has caused
this certificate to be duly executed and delivered by its proper and duly authorized signatory as of the day and year first written above. 
  

			
	[Name of Lender]
		
	By		  

	Name:		
	Title:		

  
 Exhibit F-4 

 EXHIBIT G 

[RESERVED] 

  
 Exhibit G 

 EXHIBIT H-1 

FORM OF [AMENDED AND RESTATED]13 REVOLVING LOAN NOTE 

FITBIT, INC. 
 THIS REVOLVING LOAN NOTE
AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS REVOLVING LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED
IN THE REVOLVING LOAN REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. 
  

	 $[             ] 
	 Santa Clara, California 

[insert date] 
 FOR VALUE
RECEIVED, the undersigned, FitBit, Inc., a Delaware corporation (the “Borrower”), hereby unconditionally promises to pay to [insert name of applicable Lender] (the “Lender”) or its registered
assigns at the Funding Office specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, on the Revolving Termination Date the principal amount of (a) [insert amount of applicable Lender’s
Revolving Commitment] ($[            ]), or, if less, (b) the aggregate unpaid principal amount of all Revolving Loans made by the Lender to the Borrower pursuant to
Section 2.4 of the Credit Agreement referred to below. The Borrower further agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on the dates specified
in the Credit Agreement. 
 The holder of this Revolving Loan Note (this “Note”) is authorized to indorse on the
schedules annexed hereto and made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date, Type and amount of each Revolving Loan made pursuant to the Credit Agreement and the date and amount of each
payment or prepayment of principal thereof, each continuation thereof, each conversion of all or a portion thereof to another Type and, in the case of Eurodollar Loans, the length of each Interest Period with respect thereto. Each such indorsement
shall constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any error in any such indorsement shall not affect the obligations of the Borrower in respect of any
Revolving Loan. 
 This Note (a) is one of the Revolving Loan Notes referred to in the Amended and Restated Credit Agreement, dated as
of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”), among (i) FitBit, Inc., a Delaware corporation (the
“Borrower”), (ii) the Lenders party thereto, (iii) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the “Administrative Agent”), (iv) SVB
and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (v) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan
Stanley”), as co-syndication agents for the Lenders, and (vi) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners, (b) is subject to the provisions of the Credit Agreement and
(c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement. This Note is secured and guaranteed as provided in the Loan Documents. Reference is hereby made to the Loan Documents for a description
of the properties and assets in which a security interest has been granted, the 
  

 

	13	 Insert as applicable if this Note amends and restates a prior note.

  
 Exhibit H-1 

 
nature and extent of the security and the guarantees, the terms and conditions upon which the security interests and each guarantee were granted and the rights of the holder of this Note in
respect thereof. [This Note amends, restates and replaces in its entirety that certain Revolving Loan Note dated February 27, 2014 in the original principal amount of $[            ] made
payable by the Borrower to the order of the Lender.]14 
 Upon the occurrence and
during the continuance of any one or more Events of Default, all principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. 

All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby
waive presentment, demand, protest and all other notices of any kind. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. 

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

Notwithstanding anything herein to the contrary, the lien and security interest granted pursuant to this Note or securing the obligations
represented hereby and the exercise of any right or remedy hereunder or with respect there to are subject to the provisions of the Intercreditor Agreement dated as of August 13, 2014 (as amended, restated, supplemented or otherwise modified
from time to time, the “Intercreditor Agreement”), among Silicon Valley Bank, in its capacity as ABL Agent for, and acting on behalf of, the ABL Secured Parties identified therein, and Morgan Stanley Senior Funding,
Inc., in its capacity as Cash Flow Agent for, and acting on behalf of, the Cash Flow Secured Parties identified therein. In the event of any conflict between the terms of the Intercreditor Agreement and this Note, the terms of the Intercreditor
Agreement shall govern and control. 
  

			
	FITBIT, INC.
		
	By:		  

	Name:		  

	Title:		  

  
  

	14 	Insert as applicable if this Note amends and restates a prior note. 

  
 Exhibit H-1 

 Schedule A 

to Revolving Loan Note 
 LOANS,
CONVERSIONS AND REPAYMENTS OF ABR LOANS 
  

													
	 Date
	 	 Amount of ABR
Loans
	 	 Amount

Converted to
 ABR Loans
	 	 Amount of Principal
of ABR Loans

Repaid
	 	 Amount of ABR
Loans

Converted to

Eurodollar Loans
	 	 Unpaid Principal
Balance of

ABR Loans
	 	 Notation

Made By

  
 Exhibit H-1 

 Schedule B 

to Revolving Loan Note 
 LOANS,
CONTINUATIONS, CONVERSIONS AND REPAYMENTS OF EURODOLLAR LOANS 
  

															
	 Date
	 	 Amount of
Eurodollar

Loans
	 	 Amount

Converted to
Eurodollar

Loans
	 	 Interest Period

and
 Eurodollar Rate

with
 Respect Thereto
	 	 Amount of
Principal of
Eurodollar Loans
Repaid
	 	 Amount of

Eurodollar
 Loans Converted
to

ABR Loans
	 	 Unpaid Principal
Balance of
Eurodollar

Loans
	 	 Notation

Made By

  
 Exhibit H-1 

 EXHIBIT H-2 

FORM OF AMENDED AND RESTATED SWINGLINE LOAN NOTE 

FITBIT, INC. 
 THIS SWINGLINE LOAN NOTE
AND THE OBLIGATIONS REPRESENTED HEREBY MAY NOT BE TRANSFERRED EXCEPT IN COMPLIANCE WITH THE TERMS AND PROVISIONS OF THE CREDIT AGREEMENT REFERRED TO BELOW. TRANSFERS OF THIS SWINGLINE LOAN NOTE AND THE OBLIGATIONS REPRESENTED HEREBY MUST BE RECORDED
IN THE REVOLVING LOAN REGISTER MAINTAINED BY THE ADMINISTRATIVE AGENT PURSUANT TO THE TERMS OF SUCH CREDIT AGREEMENT. 
  

	 $25,000,000.00 
	 Santa Clara, California 

August [            ], 2014 

FOR VALUE RECEIVED, the undersigned, FITBIT, INC., a Delaware corporation (the “Borrower”), hereby unconditionally
promises to pay to SILICON VALLEY BANK (the “Lender”) or its registered assigns at the Funding Office specified in the Credit Agreement (as hereinafter defined) in Dollars and in immediately available funds, on the Revolving
Termination Date, the principal amount of (a) Twenty Five Million Dollars ($25,000,000), or, if less, (b) the aggregate unpaid principal amount of all Swingline Loans made by the Lender to the Borrower pursuant to Section 2.6
of the Credit Agreement referred to below. The Borrower further agrees to pay interest in like money at such office on the unpaid principal amount hereof from time to time outstanding at the rates and on the dates specified in the Credit Agreement.

 The holder of this Swingline Loan Note (this “Note”) is authorized to indorse on the schedules annexed hereto and
made a part hereof or on a continuation thereof which shall be attached hereto and made a part hereof the date and amount of each Swingline Loan made pursuant to the Credit Agreement and the date and amount of each payment or prepayment of principal
thereof. Each such indorsement shall constitute prima facie evidence of the accuracy of the information indorsed. The failure to make any such indorsement or any error in any such indorsement shall not affect the obligations of the
Borrower in respect of any Swingline Loan. 
 This Note (a) is the Swingline Loan Note referred to in the Amended and Restated Credit
Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit Agreement”), among (i) FitBit, Inc., a Delaware
corporation (the “Borrower”), (ii) the Lenders party thereto, (iii) Silicon Valley Bank (“SVB”), as administrative agent (in such capacity, the “Administrative
Agent”), (iv) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”), (v) SunTrust and Morgan Stanley Senior
Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (vi) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners, (b) is subject to the
provisions of the Credit Agreement and (c) is subject to optional and mandatory prepayment in whole or in part as provided in the Credit Agreement. This Note is secured and guaranteed as provided in the Loan Documents. Reference is hereby made
to the Loan Documents for a description of the properties and assets in which a security interest has been granted, the nature and extent of the security and the guarantees, the terms and conditions upon which the security interests and each
guarantee were granted and the rights of the holder of this Note in respect thereof. This Note amends, restates and replaces in its entirety that certain Swingline Loan Note dated February 27, 2014 in the original principal amount of $5,000,000
made payable by the Borrower to the order of the Lender. 

  
 Exhibit H-2 

 Upon the occurrence and during the continuance of any one or more Events of Default, all
principal and all accrued interest then remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable, all as provided in the Credit Agreement. 

All parties now and hereafter liable with respect to this Note, whether maker, principal, surety, guarantor, indorser or otherwise, hereby
waive presentment, demand, protest and all other notices of any kind. 
 Unless otherwise defined herein, terms defined in the Credit
Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 NOTWITHSTANDING ANYTHING TO THE CONTRARY
CONTAINED HEREIN OR IN THE CREDIT AGREEMENT, THIS NOTE MAY NOT BE TRANSFERRED EXCEPT PURSUANT TO AND IN ACCORDANCE WITH THE REGISTRATION AND OTHER PROVISIONS OF SECTION 10.6 OF THE CREDIT AGREEMENT. 

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

Notwithstanding anything herein to the contrary, the lien and security interest granted pursuant to this Note or securing the obligations
represented hereby and the exercise of any right or remedy hereunder or with respect there to are subject to the provisions of the Intercreditor Agreement dated as of August 13, 2014 (as amended, restated, supplemented or otherwise modified
from time to time, the “Intercreditor Agreement”), among Silicon Valley Bank in its capacity as ABL Agent for, and acting on behalf of, the ABL Secured Parties identified therein, and Morgan Stanley Senior Funding,
Inc., in its capacity as Cash Flow Agent for, and acting on behalf of, the Cash Flow Secured Parties identified therein. In the event of any conflict between the terms of the Intercreditor Agreement and this Note, the terms of the Intercreditor
Agreement shall govern and control. 
  

			
	FITBIT, INC.
		
	By:		  

	Name:		  

	Title:		  

  
 Exhibit H-2 

 Schedule A 

to Swingline Loan Note 
 LOANS AND
REPAYMENTS 
  

									
	 Date
	 	 Amount of Loans
	 	 Amount of

Principal of
 ABR Loans

Repaid
	 	 Unpaid Principal

Balance of
 ABR Loans
	 	 Notation

Made By

  
 Exhibit H-2 

 EXHIBIT I 

FORM OF TRANSACTION REPORT 

FITBIT, INC. 
 Date:
            , 201     
 Fitbit, Inc., a Delaware
corporation (the “Borrower”), through the undersigned in [his][her] capacity as a duly authorized officer of such entity or an entity authorized to certify on such entity’s behalf, hereby certifies to the Administrative
Agent, the Co-Collateral Agents and each Lender, in accordance with (a) the Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified
from time to time, the “Credit Agreement”), among (i) FitBit, Inc., a Delaware corporation (the “Borrower”), (ii) the Lenders party thereto, (iii) Silicon Valley Bank
(“SVB”), as administrative agent (in such capacity, the “Administrative Agent”), (iv) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such
capacities, the “Collateral Agents”), (v) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (vi) SVB, SunTrust Robinson
Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint bookrunners, and (b) each of the other Loan Documents, that: 
 A.
Borrowing Base and Compliance 
 Pursuant to the Guarantee and Collateral Agreement, the Administrative Agent has been granted, for
the ratable benefit of the Secured Parties, a Lien on all Accounts and Inventory of the Borrower. The amounts, calculations and representations set forth on Schedule 1 are true and correct in all material respects and were determined in
accordance with the terms and definitions set forth in the Credit Agreement. All of the Accounts referred to in Schedule 1 (other than those Accounts designated as ineligible on Schedule 1) are Eligible Accounts and all of the
Inventory referred to in Schedule 1 (other than that Inventory designated as ineligible on Schedule 1) is Eligible Inventory.15 Attached are reports with detailed aged listings of
the Borrower’s accounts receivable (by invoice date), accounts payables and deferred revenue schedule, and supporting detail and documentation with respect to the amounts, calculation and representations set forth on Schedule 1, all as
reasonably requested by the Administrative Agent pursuant to the Credit Agreement. 
 B. General Certifications 

The Borrower further certifies to the Administrative Agent, the Co-Collateral Agents and each Lender that: (i) the certifications,
representations, calculations and statements herein will be true and correct as of the date hereof; (ii) each representation and warranty of each Loan Party contained in or pursuant to any Loan Document (A) to the extent qualified by
materiality, is true and correct, and (B) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and as of such date as if made on and as of such date, except to the extent such
representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; (iii) each of the covenants and agreements
contained in any Loan Document have been performed (to the extent required to be performed on or before the date hereof or each such effective date); and (iv) no Default or Event of Default has occurred and is continuing on the date hereof, nor
will any thereof occur after giving effect to the request above. 
 [Signature page follows] 

 
  

	15	Include Inventory Report as separate schedule to the extent required by the Credit Agreement. 

  
 Exhibit I 

 IN WITNESS WHEREOF, the undersigned has caused this Transaction Report to be executed as of the
day first written above. 
  

			
	FITBIT, INC.,
	 a Delaware corporation

		
	 By:
		  

	 Name:
		  

	 Title:
		  

  
 Exhibit I 

 SCHEDULE 1 

TO 
 TRANSACTION REPORT

 OF 
 FITBIT, INC.

 [Please See Attached] 

  
 Exhibit I 

 EXHIBIT J 

FORM OF COLLATERAL INFORMATION CERTIFICATE 

COLLATERAL INFORMATION CERTIFICATE 

FITBIT, INC. 
 AS THE
BORROWER 
 Dated as of August [    ], 2014 

  
 Exhibit J 

 COLLATERAL INFORMATION CERTIFICATE 

THIS COLLATERAL INFORMATION CERTIFICATE is being delivered pursuant to that certain Amended and Restated Credit Agreement (the
“Credit Agreement”) to be entered into by and among FitBit, Inc. (“Borrower”), the Lenders party thereto, and Silicon Valley Bank, as administrative agent (“Agent”), and certain other parties
thereto. 
 Capitalized terms used and not otherwise defined herein shall have the meanings set forth in the Credit Agreement. Other terms
which are used but not otherwise defined herein but which are defined in Article 8 or Article 9 of the Uniform Commercial Code shall have the meaning set forth in such applicable Article of the Uniform Commercial Code. 

The undersigned, being the duly appointed [Chief Financial Officer] of Borrower, hereby certifies on behalf of Borrower that: 

NAMES: 
  

	1.	The exact legal name of Borrower as it appears in its organizational papers, its jurisdiction of formation, its organizational identification number and its date of formation, are as follows: 

 

							
	 Name
	  	Jurisdiction of
Formation	  	Organizational
Identification No.	  	Date of Formation

  

	2.	Set forth below is each other legal name that Borrower has had during the last five years, together with the date of the relevant change: 

 

			
	 Prior Name
	  	 Date Name Was Changed From Such Name

 

	3.	Within the past five years, the following Persons have been merged into Borrower or Borrower has acquired all or a material portion of the assets of such Person (provide names, dates and brief description of
transaction): 

  

	4.	The following is a list of all other names (including trade names or similar appellations) used by Borrower or any of its divisions or other business units at any time during the past five years:

  
 Exhibit J 

 Name 

LOCATIONS: 
  

	5.	The chief executive office of Borrower is located at the following address: 

Address 
  

	6.	The following is a list of all locations not identified in Item 5, above, where Borrower maintains its books and records relating to the Collateral: 

Address 
  

	7.	The following is a list of all locations where any of the Collateral comprising Goods, including Inventory, Equipment or Fixtures (other than motor vehicles and other mobile goods to the extent in transit from
time to time), is located: 

  

			
	 Address
	  	 Brief Description of Assets at such
Location

  

	8.	The following is a list of all real property owned of record and beneficially by Borrower: 

  

			
	 County and State
	  	 Address and Legal Description

 

	9.	The following is a list of all real property leased or subleased by or to Borrower, whether by way of a ground lease, a master lease, a standard site lease, license or otherwise (each a “Lease”)
(include the name of each of the parties to each Lease as it appears on the Lease, and the address of the relevant premises under such Lease). 

  
 Exhibit J 

 INFORMATION ABOUT COLLATERAL: 

Material Contracts: 
  

	10.	The following is a list of all material licenses or sublicenses pursuant to which any third party licenses or sublicenses to Borrower the right to use any Intellectual Property Rights, including any right to use
any software or any Patent, Trademark or Copyright exclusive or any mass market, non-customized licenses or sublicenses (collectively, the “Inbound Licenses”): 

 

			
	 Parties to Contract
	  	 Title and Date of Contract

 

	11.	The following is a list of all material licenses or sublicenses pursuant to which Borrower licenses or sublicenses to any third party the right to use any Intellectual Property Rights, including any right to use
any software or any Patent, Trademark or Copyright (collectively, the “Outbound Licenses”): 

  

			
	 Parties to Contract
	  	 Title and Date of Contract

 

	12.	The following is a list of (and the location of) all material equipment and other personal property leased or subleased by Borrower from any third party, whether leased individually or jointly with others
(include the name of the lessor or sublessor as it appears on the lease or sublease, the title of the applicable lease or sublease as amended to date, including all schedules thereto, and a general description of leased equipment and other property,
the address at which such equipment and other property is located (collectively, the “Personal Property Leases”)): 

  

					
	 Parties to

Contract
	  	Title and Date of Contract	  	Description of Equipment and Location

  

	13.	The following is a list of all material contracts and agreements, including collective bargaining agreements, and employment agreements, to which Borrower is a party or in which any of them has an interest
relating to material employees (collectively, the “Employee Contracts”): 

  

			
	 Parties to Contract
	  	 Title and Date of Contract

  
 Exhibit J 

	14.	The following is a list of all other material contracts and agreements of any kind or nature (to the extent not otherwise previously listed in this Collateral Information Certificate) to which Borrower is a party
or in which it has an interest (collectively, the “Other Material Contracts”): 

  

			
	 Parties to Contract
	  	 Title and Date of Contract

Government Licenses: 
  

	15.	The following is a list of all material federal, state and other governmental licenses or authorizations required or reasonably necessary to operate Borrower’s business as currently conducted or as
contemplated by Borrower to be operated immediately after the Closing Date (collectively, the “Governmental Licenses”): 

  

							
	 Licensing Entity
	 	 Type of License
	 	 Term
	 	 Assignable w/o Consent of

Licensing Entity

Intellectual Property: 
  

	16.	The following is a list of domestic and foreign registered patents and patent applications owned by Borrower, whether individually or jointly with others: 

 

									
	 Registration or

Application No.

(indicate if an application)
	 	 Registration

or
 Application

Date
	 	 Jurisdiction of

Registration or

Application
	 	 Brief

Description of

Patent
	 	 Inventor/

assigned to owner
 (if
different)
 (Y/N)

 

	17.	The following is a list of domestic and foreign registered trademarks, trademark registrations, service mark registrations, tradenames or applications therefor, owned or used by Borrower, whether owned
individually or jointly with others: 

  

							
	 Registration or Application

No. (indicate if an

application)
	 	 Registration or

Application Date
	 	 Jurisdiction of

Registration or

Application
	  	 Description of

Trademarks,
 Tradenames
or
 Service Marks

  
 Exhibit J 

	18.	The following is a list of domestic and foreign copyrights, copyright works, copyright registrations and applications therefor, owned or used by Borrower, whether owned individually or jointly with others:

  

							
	 Registration or Application

No. (indicate if an

application)
	 	 Registration or

Application Date
	 	 Jurisdiction of

Registration or

Application
	  	 Description of

Copyright

Investment Property and Deposits: 
  

	19.	Borrower holds notes payable from the following Persons: 

  

					
	 Name of Obligor
	 	 Amount
	 	 Basic Term

 

	20.	Borrower maintains the following deposit accounts (including demand, time, savings, passbook or similar accounts) with depositary banks: 

 

					
	 Name and Address of

Depository Institution
	 	 Type and

Account No.
	 	 Account-Holder

  
 Exhibit J 

	21.	Borrower beneficially owns “investment property” in the following securities accounts held with securities intermediaries: 

 

					
	 Name and Address of

Securities Intermediary
	 	 Type and

Account No.
	 	 Account-Holder

Other Assets 
  

	22.	Borrower owns the following types of assets: 

 Aircraft
             Motor Vehicles              Vessels, boats , ships
             
 Franchise agreements
             Commercial tort claims              
  

	23.	Borrower’s assets are encumbered by liens of third parties as follows: 

  

					
	 Name and Address

of Secured Party
	 	 Assets encumbered
	 	 Method of Perfection

INFORMATION ABOUT BORROWER: 
  

	24.	Borrower, as of the Closing Date, is qualified to do business in the following jurisdictions: 

  

			
	 Name of Borrower
	  	 Jurisdiction

 

	25.	Borrower has the following subsidiaries: 

  

							
	 Name of Subsidiary
	 	 State of Formation

or Organization
	 	 Percentage Owned

by Entity
	  	Owned by

  
 Exhibit J 

	26.	List all formation documents and material equity holders agreements pertaining to Borrower or to which Borrower is a party, including operating agreements, partnership agreements, bylaws, certificates of
formation, certificates or articles of organization, certificates or articles of incorporation, shareholder or other equityholder agreements, trust or voting rights agreements, registration rights agreements, warrants and warrant purchase
agreements, convertible debt documents and options and other equity incentive plans. The undersigned certifies that each such agreement is in full force and effect, and has not been modified, amended, supplemented or restated except as listed.

  

	27.	The following is a complete list of pending and threatened litigation or claims involving amounts claimed against Borrower in an indefinite amount or in excess of $50,000 in each case: 

 

			
	 Name of Claimant
	  	 Amount and Description

 

	28.	Borrower has directly or indirectly guaranteed the following obligations of third parties: 

  

					
	 Debtor
	 	 Creditor
	 	 Amount

[signature page follows] 

  
 Exhibit J 

 The undersigned hereby certifies the foregoing information to be true and correct in all material
respects and executes this Collateral Information Certificate as of                  , 2014 

 

			
	FITBIT, INC.
		
	By:		  

 
			
		
	Printed Name:		  

 
			
	Title:		  

  
 Exhibit J 

 SCHEDULES TO THE COLLATERAL INFORMATION CERTIFICATE 

(Please see attached schedules) 

  
 Exhibit J 

 EXHIBIT K 

FORM OF NOTICE OF BORROWING 

FITBIT, INC. 
 Date:
             
  

	TO:	SILICON VALLEY BANK 

 3003
Tasman Drive 
 Santa Clara, CA 95054 

Attention: Corporate Services Department 
  

	RE:	Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit
Agreement”), among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in
such capacity, the “Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”),
(e) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint
bookrunners. Capitalized terms used but not otherwise defined herein shall have the respective meanings given to such terms in the Credit Agreement. 

Ladies and Gentlemen: 
 The undersigned refers
to the Credit Agreement and hereby gives you irrevocable notice, pursuant to Section [2.5] [2.7(a)] of the Credit Agreement, of the borrowing of a Revolving Loan][Swingline Loan]. 

1. The requested Borrowing Date, which shall be a Business Day, is             .

 2. The aggregate amount of the requested Loan is $            . 

3. The requested Loan shall consist of $              of ABR Loans and
$             of Eurodollar Loans. 
 4. The duration of the Interest Period for
the Eurodollar Loans included in the requested Loan shall be              [one][two][three][six] months. 

5. [Insert instructions for remittance of the proceeds of the applicable Loans to be borrowed] 

6. The undersigned, in his/her capacity as a Responsible Officer of the Borrower and not in his/her individual capacity, hereby certifies that
the following statements are true on the date hereof, and will be true on the date of the proposed Loan before and after giving effect thereto, and to the application of the proceeds therefrom, as applicable: 

(a) each representation and warranty of each Loan Party contained in or pursuant to any Loan Document (i) to the extent qualified by
materiality, is true and correct, and (ii) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and as of the date hereof as if made on and as of the date hereof, except to the extent such
representations and warranties expressly relate to an earlier date, in which case such representations and warranties shall have been true and correct in all material respects as of such earlier date; 

  
 Exhibit K 

 (b) no Default or Event of Default exists or will occur after giving effect to the extensions of
credit requested herein; and 
 (c) after giving effect to such Revolving Extension of Credit, the availability and borrowing limitations
specified in Section 2.4 of the Credit Agreement will be satisfied. 
 [Signature page follows] 

  
 Exhibit K 

 IN WITNESS WHEREOF, the undersigned has caused this notice to be duly executed and delivered by
its proper and duly authorized officer as of the day and year first written above. 
  

			
	FITBIT, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 For internal Bank use only 

 

							
	 Eurodollar Pricing

Date
	 	 Eurodollar Rate
	 	 Eurodollar Variance
	 	 Maturity Date

		 		 	            %	 	

  
 Exhibit K 

 EXHIBIT L 

FORM OF NOTICE OF CONVERSION/CONTINUATION 

FITBIT, INC. 
 Date:
             
  

	TO:	SILICON VALLEY BANK 

 3003
Tasman Drive 
 Santa Clara, CA 95054 

Attention: 
  

	RE:	Amended and Restated Credit Agreement, dated as of August 13, 2014 (as amended, restated, amended and restated, supplemented, restructured or otherwise modified from time to time, the “Credit
Agreement”), among (a) FitBit, Inc., a Delaware corporation (the “Borrower”), (b) the Lenders party thereto, (c) Silicon Valley Bank (“SVB”), as administrative agent (in
such capacity, the “Administrative Agent”), (d) SVB and SunTrust Bank (“SunTrust”), as co-collateral agents for the Lenders (in such capacities, the “Collateral Agents”),
(e) SunTrust and Morgan Stanley Senior Funding, Inc. (“Morgan Stanley”), as co-syndication agents for the Lenders, and (f) SVB, SunTrust Robinson Humphrey, Inc., and Morgan Stanley, as co-lead arrangers and joint
bookrunners. Capitalized terms used but not otherwise defined herein shall have the respective meanings given to such terms in the Credit Agreement. 

Ladies and Gentlemen: 
 The undersigned, in
his/her capacity as a Responsible Officer of the Borrower and not in his/her individual capacity, refers to the Credit Agreement and hereby gives you irrevocable notice pursuant to Section [2.13(a)] [2.13(b)] of the Credit
Agreement, of the [conversion] [continuation] of the Loans specified herein, that: 
 1. The date of the [conversion] [continuation] is
            . 
 2. The aggregate amount of the proposed Loans to be [converted]
[continued] is $             
 3. The Loans are to be [converted into]
[continued as] [Eurodollar] [ABR] Loans. 
 4. The duration of the Interest Period for the Eurodollar Loans included in the [conversion]
[continuation] shall be [one][two][three][six] months. 
 5. The undersigned on behalf of the Borrower, hereby certifies that the following
statements are true on the date hereof, and will be true on the date of the proposed [conversion] [continuation], before and after giving effect thereto and to the application of the proceeds therefrom: 

(a) each representation and warranty of each Loan Party contained in or pursuant to any Loan Document (i) to the extent qualified by
materiality, is true and correct, and (ii) to the extent not qualified by materiality, is true and correct in all material respects, in each case, on and 

  
 Exhibit M 

 
as of the date hereof as if made on and as of the date hereof, except to the extent such representations and warranties expressly relate to an earlier date, in which case such representations and
warranties shall have been true and correct in all material respects as of such earlier date; and 
 (b) no Default or Event of Default
exists or shall occur after giving effect to the [conversion] [continuation] requested to be made on such date. 
 [Signature page
follows] 

  
 Exhibit M 

 IN WITNESS WHEREOF, the undersigned has caused this notice to be duly executed and delivered by
its proper and duly authorized officer as of the day and year first written above. 
  

			
	FITBIT, INC.
		
	By:	 	  

	Name:	 	  

	Title:	 	  

 For internal Bank use only 

 

									
	 Eurodollar Pricing

Date
	  	Eurodollar Rate	  	Eurodollar Variance	 	  	Maturity Date
		  		  	 	%	  	  	

  
 Exhibit MEX-10.9

 Exhibit 10.9 
  

 
  

REVOLVING CREDIT AND GUARANTY AGREEMENT 

dated as of 
 August 13, 2014

 among 
 FITBIT, INC., 

The Guarantors Party Hereto, 
 The
Lenders Party Hereto 
 and 

MORGAN STANLEY SENIOR FUNDING, INC., 

as Administrative Agent and Collateral Agent 
  

 
  

 
  

MORGAN STANLEY SENIOR FUNDING, INC., SILICON VALLEY BANK 

and 
 SUNTRUST ROBINSON HUMPHREY,
INC., 
 as Joint Lead Arrangers and Joint Bookrunners 

SILICON VALLEY BANK and SUNTRUST BANK, 

as Co-Syndication Agent 
  

 
  

 
  

 Table of Contents 

 

							
	 		 		Page	 
	 ARTICLE I
		DEFINITIONS		 	1	  
			
	 Section 1.1
		Defined Terms		 	1	  
	 Section 1.2
		Classification of Loans and Borrowings		 	28	  
	 Section 1.3
		Terms Generally		 	28	  
	 Section 1.4
		Accounting Terms; GAAP		 	28	  
			
	 ARTICLE II
		THE CREDITS		 	28	  
			
	 Section 2.1
		Commitments		 	28	  
	 Section 2.2
		Revolving Loans and Borrowings		 	29	  
	 Section 2.3
		Swing Line Loans		 	29	  
	 Section 2.4
		Issuance of Letters of Credit and Purchase of Participations Therein		 	31	  
	 Section 2.5
		Requests for Borrowings		 	35	  
	 Section 2.6
		Funding of Borrowings		 	35	  
	 Section 2.7
		Interest Elections		 	36	  
	 Section 2.8
		Termination and Reduction of Commitments		 	37	  
	 Section 2.9
		Repayment of Loans; Evidence of Debt		 	37	  
	 Section 2.10
		Prepayment of Loans		 	38	  
	 Section 2.11
		Fees		 	39	  
	 Section 2.12
		Interest		 	40	  
	 Section 2.13
		Alternate Rate of Interest		 	41	  
	 Section 2.14
		Increased Costs; Illegality		 	41	  
	 Section 2.15
		Break Funding Payments		 	43	  
	 Section 2.16
		Taxes		 	43	  
	 Section 2.17
		Payments Generally; Pro Rata Treatment; Sharing of Set-offs		 	45	  
	 Section 2.18
		Mitigation Obligations; Replacement of Lenders		 	46	  
	 Section 2.19
		Incremental Commitments		 	47	  
	 Section 2.20
		Extension of Maturity Date		 	49	  
	 Section 2.21
		Defaulting Lenders		 	51	  
			
	 ARTICLE III
		REPRESENTATIONS AND WARRANTIES		 	53	  
			
	 Section 3.1
		Organization		 	53	  
	 Section 3.2
		Powers; Authorization; Enforceability; Government Approvals		 	53	  
	 Section 3.3
		No Conflicts		 	54	  
	 Section 3.4
		Financial Condition		 	54	  
	 Section 3.5
		Properties		 	54	  
	 Section 3.6
		Litigation and Environmental Matters		 	55	  
	 Section 3.7
		Compliance with Laws		 	55	  
	 Section 3.8
		Investment Company Status		 	56	  
	 Section 3.9
		Taxes		 	56	  
	 Section 3.10
		ERISA		 	56	  
	 Section 3.11
		Disclosure		 	57	  

							
	 Section 3.12
		Subsidiaries		 	57	  
	 Section 3.13
		USA PATRIOT Act		 	57	  
	 Section 3.14
		Sanctioned Persons		 	57	  
	 Section 3.15
		Margin Stock		 	58	  
	 Section 3.16
		Solvency		 	58	  
	 Section 3.17
		Immaterial Subsidiaries		 	58	  
	 Section 3.18
		Collateral Documents		 	58	  
			
	 ARTICLE IV
		CONDITIONS		 	59	  
			
	 Section 4.1
		Closing Date		 	59	  
	 Section 4.2
		Each Credit Event		 	61	  
			
	 ARTICLE V
		AFFIRMATIVE COVENANTS		 	62	  
			
	 Section 5.1
		Financial Statements; Other Information		 	62	  
	 Section 5.2
		Notices of Material Events		 	64	  
	 Section 5.3
		Existence; Conduct of Business		 	65	  
	 Section 5.4
		Payment of Taxes		 	65	  
	 Section 5.5
		Maintenance of Properties; Insurance		 	65	  
	 Section 5.6
		Books and Records; Inspection Rights		 	65	  
	 Section 5.7
		ERISA-Related Information		 	66	  
	 Section 5.8
		Compliance with Laws and Agreements		 	66	  
	 Section 5.9
		Use of Proceeds		 	67	  
	 Section 5.10
		Additional Guarantors		 	67	  
	 Section 5.11
		Additional Material Real Estate Assets		 	67	  
	 Section 5.12
		Further Assurances		 	68	  
	 Section 5.13
		Environmental Laws		 	68	  
	 Section 5.14
		Designation of Restricted and Unrestricted Subsidiaries		 	68	  
	 Section 5.15
		Post-Closing Covenant		 	70	  
			
	 ARTICLE VI
		NEGATIVE COVENANTS		 	70	  
			
	 Section 6.1
		Indebtedness		 	70	  
	 Section 6.2
		Liens		 	72	  
	 Section 6.3
		Fundamental Changes; Assets Sales; Changes in Business		 	73	  
	 Section 6.4
		Restricted Payments		 	74	  
	 Section 6.5
		Restrictive Agreements		 	75	  
	 Section 6.6
		Transactions with Affiliates		 	76	  
	 Section 6.7
		Investments		 	76	  
	 Section 6.8
		Use of Proceeds		 	77	  
	 Section 6.9
		Accounting Changes		 	77	  
	 Section 6.10
		Amendments to Operating Documents		 	78	  
	 Section 6.11
		Payments of Certain Indebtedness; Modification of Certain Agreements		 	78	  
	 Section 6.12
		Financial Condition Covenant		 	78	  
	 Section 6.13
		Anti-Terrorism Law; OFAC; Anti-Corruption		 	79	  

							
			
	 ARTICLE VII
		GUARANTY		 	79	  
			
	 Section 7.1
		Guaranty of the Obligations		 	79	  
	 Section 7.2
		Payment by Guarantors		 	80	  
	 Section 7.3
		Liability of Guarantors Absolute		 	80	  
	 Section 7.4
		Waivers by Guarantors		 	82	  
	 Section 7.5
		Guarantors’ Rights of Subrogation, Contribution, Etc.		 	82	  
	 Section 7.6
		Subrogation of Other Obligations		 	83	  
	 Section 7.7
		Continuing Guaranty		 	83	  
	 Section 7.8
		Authority of Guarantors or the Borrower		 	83	  
	 Section 7.9
		Financial Condition of the Borrower		 	83	  
	 Section 7.10
		Bankruptcy, Etc.		 	84	  
	 Section 7.11
		Keepwell		 	84	  
			
	 ARTICLE VIII
		EVENTS OF DEFAULT		 	85	  
			
	 Section 8.1
		Events of Default		 	85	  
	 Section 8.2
		Right to Cure		 	87	  
	 Section 8.3
		Application of Proceeds		 	88	  
			
	 ARTICLE IX
		THE AGENT		 	89	  
			
	 ARTICLE X
		MISCELLANEOUS		 	93	  
			
	 Section 10.1
		Notices		 	93	  
	 Section 10.2
		Waivers; Amendments		 	95	  
	 Section 10.3
		Expenses; Indemnity; Damage Waiver		 	96	  
	 Section 10.4
		Successors and Assigns		 	98	  
	 Section 10.5
		Survival		 	101	  
	 Section 10.6
		Counterparts; Integration; Effectiveness		 	101	  
	 Section 10.7
		Severability		 	101	  
	 Section 10.8
		Right of Setoff		 	102	  
	 Section 10.9
		Governing Law; Jurisdiction; Consent to Service of Process		 	102	  
	 Section 10.10
		WAIVER OF JURY TRIAL		 	103	  
	 Section 10.11
		Headings		 	103	  
	 Section 10.12
		Confidentiality		 	103	  
	 Section 10.13
		Interest Rate Limitation		 	104	  
	 Section 10.14
		No Advisory or Fiduciary Responsibility		 	105	  
	 Section 10.15
		Electronic Execution of Assignments and Certain Other Documents		 	105	  
	 Section 10.16
		USA PATRIOT Act		 	105	  
	 Section 10.17
		Release of Guarantors		 	105	  

 SCHEDULES 

					
			
	Schedule 2.1		—		Commitments
	Schedule 3.2		—		Governmental Approvals
	Schedule 3.3		—		Requirements of Law
	Schedule 3.4		—		Financial Condition
	Schedule 3.6		—		Disclosed Matters
	Schedule 3.10		—		Plans
	Schedule 3.12		—		Subsidiaries
	Schedule 3.18(a)		—		UCC Filing Jurisdictions
	Schedule 5.15		—		Post-Closing Actions
	Schedule 6.2		—		Existing Liens
	Schedule 6.5		—		Existing Restrictions
	Schedule 6.7		—		Existing Investments

 EXHIBITS 
  

					
	Exhibit A		—		Form of Assignment and Assumption
	Exhibit B-1		—		Form of Borrowing Request
	Exhibit B-2		—		Form of Issuance Notice
	Exhibit C		—		Form of Interest Election Request
	Exhibit D-1		—		Form of Revolving Loan Note
	Exhibit D-2		—		Form of Swing Line Note
	Exhibit E		—		Form of Security Agreement
	Exhibit F		—		Form of Compliance Certificate
	Exhibit G		—		Form of Maturity Date Extension Request
	Exhibit H		—		Form of Counterpart Agreement
	Exhibit I		—		Form of Solvency Certificate
	Exhibit J		—		Form of Letter of Credit Application

 Exhibit 10.9 

REVOLVING CREDIT AND GUARANTY AGREEMENT dated as of August 13, 2014, among FITBIT, INC., as Borrower, the GUARANTORS party hereto, the
LENDERS party hereto, MORGAN STANLEY BANK, N.A., as Swing Line Lender, MORGAN STANLEY BANK, N.A., as Issuing Bank, and MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent and Collateral Agent. 

The Borrower (such term and each other capitalized term used and not otherwise defined herein having the meaning assigned to it in Article
I), has requested that the Lenders make Loans to the Borrower on a revolving credit basis on and after the date hereof and at any time and from time to time prior to the Commitment Termination Date. 

The proceeds of borrowings hereunder are to be used for the purposes described in Section 5.9. The Lenders are willing to
establish the credit facility referred to in the preceding paragraph upon the terms and subject to the conditions set forth herein. Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1 Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 

“ABL Credit Agreement” means that certain Amended and Restated Credit Agreement, dated as of the Closing Date, by and among
the Borrower, the several banks and other financial institutions or entities from time to time party thereto, Silicon Valley Bank, as administrative agent, and Silicon Valley Bank and SunTrust Bank, as co-collateral agents, as the same now exists or
may hereafter be amended, modified, supplemented, renewed, restated or replaced. 
 “ABL Documents” has the meaning set
forth in the Intercreditor Agreement. 
 “ABR”, when used in reference to any Loan or Borrowing, refers to whether such
Loan, or the Loans comprising such Borrowing, are bearing interest at a rate determined by reference to the Alternate Base Rate. 

“Acquisition” means any transaction or series of related transactions resulting in the acquisition by the Borrower or any of
its wholly owned Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or a business line or unit or a division of, any Person. 

“Acquisition Consideration” means the purchase consideration for any Permitted Acquisition and all other payments by Borrower
or any of its Restricted Subsidiaries in exchange for, or as part of, or in connection with, any Permitted Acquisition, whether paid in cash or by exchange of Equity Interests or of properties or otherwise and whether payable at or prior to the
consummation of such Permitted Acquisition or deferred for payment at any future time, including any assumptions of Indebtedness and any earnouts or other contingent deferred purchase price agreements to the extent constituting Indebtedness
hereunder. 
 “Adjusted LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period, an interest
rate per annum (rounded upwards, if necessary, to the next 1/100 of 1%) equal to (a) the LIBO Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

 “Administrative Agent” means Morgan Stanley Senior Funding, Inc., in its
capacity as administrative agent for the Lenders hereunder, or any successor administrative agent. 
 “Administrative
Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative Agent. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent” means each of
the Administrative Agent and the Collateral Agent. 
 “Agreement” means this Revolving Credit and Guaranty Agreement, as
the same may hereafter be modified, supplemented, extended, amended, restated or amended and restated from time to time. 

“Alternate Base Rate” means, for any day, a rate per annum equal to the highest of (a) 3.50%, (b) the Prime Rate in
effect on such day, (c) the Federal Funds Effective Rate in effect on such day plus  1⁄2 of 1% and (d) the Adjusted LIBO Rate for an Interest
Period of 1 month commencing on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1.00%. Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or
the Adjusted LIBO Rate shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds Effective Rate or the Adjusted LIBO Rate, respectively. 

“Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such
Lender’s Commitment (or if the Commitments have terminated or expired, such Lender’s share of the total Revolving Exposure at that time); provided that if any Defaulting Lender exists at such time, the Applicable Percentage shall be
calculated disregarding such Defaulting Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon the Commitments most recently in effect, giving effect to any assignments.

 “Applicable Margin” or “Commitment Fee Rate” means, commencing on the date on which the Administrative
Agent receives copies of the consolidated financial statements of the Borrower and its Subsidiaries in respect of the first fiscal quarter of the Borrower ending after the Closing Date, together with a Compliance Certificate in respect thereof as
contemplated by Section 5.1(c), the rate per annum set forth under the relevant column heading below opposite the applicable Consolidated Total Leverage Ratio level reported in the most recent Compliance Certificate: 

 

							
	 Consolidated Total Leverage Ratio
	 	 Applicable Margin for
	 	 Applicable Margin for
	 	 Commitment

	 	 Eurodollar Loans
	 	 ABR Loans
	 	 Fee Rate

	 3 1.50:1.00
	 	3.50%	 	2.50%	 	0.50%
	 < 1.50:1.00
	 	3.25%	 	2.25%	 	0.375%

 Notwithstanding the foregoing, (a) until the delivery of the first Compliance Certificate required to be
delivered pursuant to Section 5.1(c) in connection with the delivery by the Borrower of the consolidated financial statements required to be delivered to the Administrative Agent pursuant to Sections 5.1(a) and (b), the
Applicable Margin shall be the rates corresponding to a Consolidated Total 

  
 2 

 
Leverage Ratio of greater than or equal to 1.50:1.00 in the foregoing table, (b) if the Borrower fails to deliver the financial statements required by Sections 5.1(a) and
(b) and the related Compliance Certificate required by Section 5.1(c), by the respective date required thereunder after the end of any related fiscal month of the Borrower, the Applicable Margin and the Commitment Fee Rate
shall be the rates corresponding to the Consolidated Total Leverage Ratio of greater than or equal to 1.50:1.00 in the foregoing table until such financial statements and Compliance Certificate are delivered, and (c) no reduction to the
Applicable Margin or the Commitment Fee Rate shall become effective at any time when an Event of Default has occurred and is continuing. 

If, as a result of any restatement of or other adjustment to the financial statements of the Loan Parties or for any other reason, the
Administrative Agent determines that (x) the Consolidated Total Leverage Ratio as calculated by the Borrower as of any applicable date was inaccurate and (y) a proper calculation of the Consolidated Total Leverage Ratio would have resulted
in different pricing for any period, then: (i) if the proper calculation of the Consolidated Total Leverage Ratio would have resulted in higher pricing for such period, the Borrower shall automatically and retroactively be obligated to pay to
the Administrative Agent, for the benefit of the applicable Lenders, promptly on demand by the Administrative Agent, an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of
interest and fees actually paid for such period; and (ii) if the proper calculation of the Consolidated Total Leverage Ratio would have resulted in lower pricing for such period, neither the Administrative Agent nor any Lender shall have any
obligation to repay any interest or fees to the Borrower. If the Administrative Agent makes a determination that the proper calculation of the Consolidated Total Leverage Ratio would have resulted in higher pricing for any period, then the
Administrative Agent will endeavor to provide the Borrower with written notice promptly following such determination, provided that failure to provide such written notice shall not relieve the Borrower of any obligation to pay any amounts due
hereunder. 
 “Application” means an application, substantially in the form of Exhibit J or such other form as the
Issuing Bank may specify as the form for use by its similarly situated customers from time to time, requesting the Issuing Bank to open a Letter of Credit. 

“Approved Fund” has the meaning set forth in Section 10.4. 

“Asset Sale” means a sale, lease (as lessor or sublessor), sale and leaseback, license (as licensor or sublicensor),
exchange, transfer or other disposition to, any Person, in one transaction or a series of transactions, of all or any part of the Borrower’s or any of its Restricted Subsidiaries’ businesses, assets or properties of any kind, whether real,
personal, or mixed and whether tangible or intangible, whether now owned or hereafter acquired, including the Equity Interests of any of the Borrower’s Subsidiaries, other than (a) inventory (or other assets, including intangible assets)
sold, leased or licensed out in the ordinary course of business, (b) obsolete, surplus or worn-out property, (c) sales of Cash Equivalents for the fair market value thereof, (d) dispositions of property (including the sale of any
Equity Interest owned by such Person) from (i) any Restricted Subsidiary that is not a Guarantor to any other Restricted Subsidiary that is not a Guarantor, (ii) any Restricted Subsidiary that is not a Guarantor to any Loan Party for no
more than fair market value or (iii) any Loan Party to any other Loan Party, (e) dispositions of property in connection with casualty or condemnation events, (f) dispositions of past due accounts receivable in connection with the
collection, write down or compromise thereof in the ordinary course of business, (g) dispositions of property to the extent that (x) such property is exchanged for credit against the purchase price of similar replacement property or
(y) the proceeds of such disposition are promptly applied to the purchase price of such replacement property, (h) dispositions permitted by clause (a) of Section 6.3, (i) dispositions of Intellectual Property (as defined
in the Security Agreement) to one or more wholly-owned Foreign Subsidiaries for the fair market value thereof on an arm’s-length basis (as determined in good faith by a resolution of the Board of Directors, excluding any directors that have a

  
 3 

 
conflict of interest related to the proposed transaction), (j) dispositions of assets acquired in connection with (or owned by a Person that is acquired in connection with) an Acquisition
for the fair market value thereof, so long as such assets are determined by the Borrower in good faith not to be material to the Borrower’s and its Subsidiaries’ business, taken as a whole, and (k) any other sale, lease, sale and
leaseback, license, exchange, transfer or other disposition of assets or properties; provided, that, (i) no Default or Event of Default exists or would result therefrom, (ii) not less than 75% of the sales price from any such
disposition shall be paid in cash or Cash Equivalents, and (iii) the aggregate consideration received in respect of all such dispositions under this clause (k) during the term of this Agreement does not exceed 10% of Consolidated Total
Assets. 
 “Assignment and Assumption” means an assignment and assumption entered into by a Lender and an assignee (with
the consent of any party whose consent is required by Section 10.4), and accepted by the Administrative Agent, in the form of Exhibit A or any other form approved by the Administrative Agent. 

“Availability Period” means the period from and including the Closing Date to but excluding the Commitment Termination Date.

 “Available Amount” means, at any time, an amount equal to: 

(a) the sum, without duplication, of: 

(i) an amount, not less than zero, equal to the aggregate amount, determined for all fiscal years commencing with the fiscal year ending on
December 31, 2014, of (x) Consolidated Excess Cash Flow for such fiscal year minus (y) 50.0% of Consolidated Excess Cash Flow for such fiscal year; plus 

(ii) the amount of any capital contributions or proceeds of other equity issuances received as cash equity by the Borrower (other than
Disqualified Equity Interests), in each case, during the period from and including the Business Day immediately following the Closing Date through and including such time; plus 

(iii) $10,000,000; minus  

(b) the aggregate amount of any Restricted Payments made by the Borrower or any Restricted Subsidiary pursuant to Section 6.4(a)
after the Closing Date in reliance on the Available Amount. 
 “Bankruptcy Code” means Chapter 11 of Title 11 of the United
States Code, as amended from time to time and any successor statute and all rules and regulations promulgated thereunder. 

“Beneficiary” means each Agent, Issuing Bank, Lender and Lender Counterparty. 

“Board” means the Board of Governors of the Federal Reserve System of the United States of America. 

“ Board of Directors “ means the board of directors or comparable governing body of the Borrower, or any committee thereof
duly authorized to act on its behalf. 
 “Borrower” means Fitbit, Inc., a Delaware corporation. 

  
 4 

 “Borrowing” means (a) Loans of the same Type, made, converted or continued
on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect or (b) the issuing of Letters of Credit. 

“Borrowing Request” means a request by the Borrower for a Borrowing in accordance with Section 2.5. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day on which banks are not open for dealings in dollar deposits in
the London interbank market. 
 “Capital Lease Obligations” of any Person means the obligations of such Person to pay rent
or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations are required to be classified and accounted for as capital leases on a balance sheet of such
Person under GAAP, and the amount of such obligations shall be the capitalized amount thereof determined in accordance with GAAP; provided that, any obligations relating to a lease that was accounted for by such Person as an operating lease
as of the Closing Date and any similar lease entered into after the Closing Date by such Person that would not have been accounted for as a capital lease under GAAP as in effect on the Closing Date shall be accounted for as obligations relating to
an operating lease and not as Capital Lease Obligations. 
 “Cash Equivalents” means 

(a) United States dollars, or money in other currencies received in the ordinary course of business, 

(b) U.S. Government Obligations or certificates representing an ownership interest in U.S. Government Obligations with maturities not
exceeding one year from the date of acquisition, 
 (c)(i) demand deposits, (ii) time deposits and certificates of deposit with
maturities of one year or less from the date of acquisition, (iii) bankers’ acceptances with maturities not exceeding one year from the date of acquisition, and (iv) overnight bank deposits, in each case with any bank or trust company
organized or licensed under the laws of the United States or any State thereof having capital, surplus and undivided profits in excess of $500 million whose short-term debt is rated “A-2” or higher by S&P or “P-2” or higher
by Moody’s, 
 (d) repurchase obligations with a term of not more than seven days for underlying securities of the type described in
clauses (2) and (3) above entered into with any financial institution meeting the qualifications specified in clause (3) above, 

(e) commercial paper rated at least P-1 by Moody’s or A-1 by S&P and maturing within one year after the date of acquisition, 

(f) securities with maturities of one year or less from the date of acquisition which (or the issuer of which) are rated at least A or A-1 by
S&P or A2 or P-1 by Moody’s, and 
 (g) money market funds at least 90% of the assets of which consist of investments of the type
described in clauses (1) through (6) above. 

  
 5 

 “ Change in Control” means (a) at any time, any “person” or
“group” (as such terms are used in Sections 13(d) and 14(d) of the Exchange Act), excluding any one or more of the Permitted Investors, shall become, or obtain rights (whether by means or warrants, options or otherwise) to become, the
“beneficial owner” (as defined in Rules 13(d)-3 and 13(d) 5 under the Exchange Act), directly or indirectly, of 50% or more of the ordinary voting power for the election of directors of the Borrower (determined on a fully diluted basis);
(b) during any period of 24 consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Borrower cease to be composed of individuals (disregarding individuals who cease to serve due to death
or disability and who are not replaced) (i) who were members of that board or equivalent governing body on the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by
individuals referred to in clause (i) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body, (iii) whose election or nomination to that board or other equivalent
governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time of such election or nomination at least a majority of that board or equivalent governing body (excluding, in the case of
both clause (ii) and clause (iii), any individual whose initial nomination for, or assumption of office as, a member of that board or equivalent governing body occurs as a result of an actual or threatened solicitation of proxies or
consents for the election or removal of one or more directors by any person or group other than a solicitation for the election of one or more directors by or on behalf of the board of directors), or (iv) whose election or nomination to that
board or equivalent governing body was required by a designation by one or more stockholders having the contractual right to designate one or more members of the board or equivalent governing body pursuant to a voting agreement or shareholders’
agreement or similar agreement to which Permitted Investors holding a majority of the Borrower’s Equity Interests held by all Permitted Investors are party; (c) at any time, the Borrower shall cease to own and control, of record and
beneficially, directly or indirectly, 100% of each class of outstanding Equity Interests of each Guarantor (disregarding minimal numbers of shares held to comply with applicable laws requiring a legal entity to have more than one Equity Interest
holder for the entity to be reorganized) free and clear of all Liens (except Liens created by the Security Documents and Liens permitted by Section 7.3(c) which are non-consensual permitted Liens); or (d) the occurrence of a
“Change of Control” under the ABL Credit Agreement. 
 “Change in Law” means the occurrence, after the date of
this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or
application thereof by any Governmental Authority or (c) the making or issuance of any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that, notwithstanding anything
herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests, rules, guidelines or directives
promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case
be deemed to be a “Change in Law”, regardless of the date enacted, adopted or issued. 
 “Closing Date” means the
date on which the conditions specified in Section 4.1 are satisfied (or waived in accordance with Section 10.2). 

“Code” means the U.S. Internal Revenue Code of 1986, as amended from time to time, and the regulations promulgated and
rulings issued thereunder. 
 “ Collateral “ means, collectively, all of the real, personal and mixed property (including
Equity Interests) in which Liens are purported to be granted pursuant to the Collateral Documents as security for the Obligations. 

  
 6 

 “Collateral Agent” means Morgan Stanley Senior Funding, Inc., in its capacity as
collateral agent for the Lenders hereunder, or any successor collateral agent. 
 “Collateral Documents” means the Security
Agreement, the Intellectual Property Security Agreements, the Mortgages and all other instruments, documents and agreements delivered by or on behalf of any Loan Party pursuant to this Agreement or any of the other Loan Documents in order to grant
to, or perfect in favor of, the Collateral Agent, for the benefit of the Lenders, a Lien on any Collateral of that Loan Party as security for the Obligations. 

“Commitment” means, with respect to each Lender, the commitment of such Lender to make Loans hereunder and to acquire
participations in Letters of Credit and Swing Line Loans hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s Loans hereunder, as such commitment may be (a) reduced from time to time pursuant to
Section 2.8, (b) increased from time to time pursuant to Section 2.19 and (c) reduced or increased from time to time pursuant to assignments by or to such Lender pursuant to Section 2.20 or
Section 10.4. The initial amount of each Lender’s Commitment as of the Closing Date is set forth on Schedule 2.1. The initial aggregate amount of the Lenders’ Commitments as of the Closing Date is $40,000,000. 

“Commitment Fee Rate” has the meaning set forth in the definition of “Applicable Margin”. 

“Commitment Increase” has the meaning set forth in Section 2.19(a). 

“Commitment Termination Date” means the earliest to occur of (a) the Maturity Date, (b) the date the Commitments
are permanently reduced to zero pursuant to Section 2.10, and (c) the date of the termination of the Commitments pursuant to Section 8.1. 

“ Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any
successor statute. 
 “Compliance Certificate” means a compliance certificate of a Financial Officer substantially in the
form of Exhibit F. 
 “Consolidated Adjusted EBITDA” means with respect to the Borrower and its Restricted
Subsidiaries for any period, (a) the sum, without duplication, of the amounts for such period of (i) Consolidated Net Income, plus (ii) to the extent deducted in the calculation of Consolidated Net Income, the sum of
(A) Consolidated Interest Expense, plus (B) provisions for taxes based on income, plus (C) total depreciation expense, plus (D) total amortization expense, plus (E) reasonable costs, fees and
expenses in connection with an initial public offering of the Capital Stock of the Borrower, plus (F) non-cash stock compensation expenses, plus (G) non-cash exchange, translation or performance losses relating to any foreign
currency hedging transactions or currency fluctuations, plus (H) costs, fees and expenses (1) in connection with the execution and delivery of this Agreement and the other Loan Documents or (2) paid by the Borrower or any
Restricted Subsidiary after the Closing Date in connection with its obligations under the Loan Documents which are incurred not later than six (6) months after the Closing Date, plus (I) one-time costs, fees, and expenses in
connection with Permitted Acquisitions or other transactions that if closed, would have constituted a Permitted Acquisition, plus (J) non- cash purchase accounting adjustments (including, but not limited to deferred revenue write down)
and any adjustments as required or permitted by the application of FASB 141 (requiring the use of purchase method of accounting for acquisitions and consolidations), FASB 142 (relating to changes in accounting for the amortization of good will and
certain other intangibles) and FASB 144 (relating to the write downs of long-lived assets), in each case, in connection with Permitted Acquisitions, plus (K) non-cash charges 

  
 7 

 
for goodwill and other intangible write-offs and write-downs in connection with Permitted Acquisitions or otherwise, plus (L) other non-cash or non-recurring items reducing
Consolidated Net Income (excluding any such non-cash item to the extent that it represents an accrual or reserve for potential cash items in any future period or amortization of a prepaid cash item that was paid in a prior period) approved by the
Administrative Agent and the Required Lenders in writing as an ‘add back’ to Consolidated EBITDA, plus (M) charges and expenses related to the recall of the “FitBit Force,” and other cash and non-cash items reducing
Consolidated Net Income associated therewith (including costs and expenses associated with related litigation, claims and administrative proceedings) in an aggregate amount not to exceed $84,600,000 for the fiscal quarter ended December 31,
2013 and $27,900,000 for the fiscal quarter ended March 31, 2014; provided that this clause (M) shall not apply in calculations of the Consolidated Total Leverage Ratio for purposes of satisfying the incurrence test under
Section 6.1(i), minus (b) the sum, without duplication of the amounts for such period of (i) other non- cash items increasing Consolidated Net Income for such period (excluding any such non-cash item to the extent
it represents the reversal of an accrual or reserve for potential cash item in any prior period), plus (ii) interest income; provided that Consolidated EBITDA for any period shall be determined on a Pro Forma Basis 

“Consolidated Capital Expenditures” means, for any period, the aggregate of all expenditures of the Borrower and its
Restricted Subsidiaries during such period determined on a consolidated basis that, in accordance with GAAP, are or should be included in “purchase of property and equipment” or similar items, or which should otherwise be capitalized,
reflected in the consolidated statement of cash flows of the Borrower and its Restricted Subsidiaries. 
 “Consolidated Current
Assets” means, as at any date of determination, the total assets of the Borrower and its Restricted Subsidiaries on a consolidated basis that may properly be classified as current assets in conformity with GAAP, excluding cash and Cash
Equivalents. 
 “Consolidated Current Liabilities” means, as at any date of determination, the total liabilities of the
Borrower and its Restricted Subsidiaries on a consolidated basis that may properly be classified as current liabilities in conformity with GAAP, excluding the current portion of long term debt. 

“Consolidated Excess Cash Flow” means, for any period, an amount (if positive) equal to: 

(a) the sum, without duplication, of the amounts for such period of (i) Consolidated Net Income, plus, (ii) to the extent
reducing Consolidated Net Income, the sum, without duplication, of amounts for non-cash charges reducing Consolidated Net Income, including for depreciation and amortization (excluding any such non-cash charge to the extent that it represents an
accrual or reserve for potential cash charge in any future period or amortization of a prepaid cash gain that was paid in a prior period), plus (c) the Consolidated Working Capital Adjustment (if positive), minus 

(b) the sum, without duplication, of (i) the amounts for such period paid from internally generated cash of (1) repayments of
Indebtedness for borrowed money (excluding repayments of the Loans except to the extent the Commitments are permanently reduced in connection with such repayments) and repayments of Capital Lease Obligations (excluding any interest expense portion
thereof), (2) Consolidated Capital Expenditures and (3) Acquisitions, plus (ii) other non-cash gains increasing Consolidated Net Income for such period (excluding any such non-cash gain to the extent it represents the reversal
of an accrual or reserve for potential cash gain in any prior period), plus (iii) the Consolidated Working Capital Adjustment (if negative). 

“Consolidated Interest Expense” means for any period, total interest expense (including that portion of any Capital Lease
Obligations that is treated as interest in accordance with GAAP) of the 

  
 8 

 
Borrower and its consolidated Subsidiaries for such period with respect to all outstanding Indebtedness of such Persons (including all commissions, discounts and other fees and charges owed with
respect to letters of credit and bankers’ acceptance financing and net costs under Swap Agreements in respect of interest rates to the extent such net costs are allocable to such period in accordance with GAAP). 

“Consolidated Net Income” means for any period, the consolidated net income (or loss) of the Borrower and its Restricted
Subsidiaries, determined on a consolidated basis in accordance with GAAP; provided that there shall be excluded from the calculation of “Consolidated Net Income” (a) the income (or deficit) of any such Person accrued prior to the date
it becomes a Subsidiary of the Borrower or is merged into or consolidated with the Borrower or one of its Subsidiaries, (b) the income (or deficit) of any such Person (other than a Subsidiary of the Borrower) in which the Borrower or one of its
Subsidiaries has an ownership interest, except to the extent that any such income is actually received by the Borrower or such Subsidiary in the form of dividends or similar distributions, and (c) the undistributed earnings of any Subsidiary of
the Borrower to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary is not at the time permitted by the terms of any Contractual Obligation (other than under any Loan Document) or any Requirement of
Law applicable to such Subsidiary or any owner of the Equity Interests of such Subsidiary. 
 “Consolidated Total Assets”
means, at any date of determination, the total amount of assets of the Borrower and its Restricted Subsidiaries, as set forth on the most recent financial statements delivered pursuant to Sections 5.1(a) and (b). 

“Consolidated Total Debt” of the Borrower and its Restricted Subsidiaries, on any date, means all Indebtedness of the
Borrower and its Restricted Subsidiaries on such date, determined on a consolidated basis in accordance with GAAP, but excluding any liabilities referred to in clauses (f) and (g) of the definition of Indebtedness. 

“Consolidated Total Leverage Ratio” means, at any date, the ratio of (a) Consolidated Total Debt on such date to
(b) Consolidated Adjusted EBITDA for the four fiscal quarter period ending on or most recently prior to such date. 

“Consolidated Working Capital” means, as at any date of determination, the excess of Consolidated Current Assets of the
Borrower and its Restricted Subsidiaries over Consolidated Current Liabilities of the Borrower and its Restricted Subsidiaries. 

“Consolidated Working Capital Adjustment” means, for any period on a consolidated basis, the amount (which may be a negative
number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period. In calculating the Consolidated Working Capital Adjustment there shall be excluded
the effect of reclassification during such period of current assets to long term assets and current liabilities to long term liabilities and the effect of any Acquisition and the designation of any Unrestricted Subsidiary as a Restricted Subsidiary
or any Restricted Subsidiary as an Unrestricted Subsidiary during such period; provided that (i) there shall be included with respect to any Acquisition during such period an amount (which may be a negative number) equal to the
difference between the Consolidated Working Capital acquired in such Acquisition as at the time of such Acquisition and the Consolidated Working Capital from such Acquisition at the end of such period and (ii) there shall be included with
respect to any Unrestricted Subsidiary that is designated as a Restricted Subsidiary during such period an amount (which may be a negative number) equal to the difference between the Consolidated Working Capital gained in such designation as at the
time of such designation and the Consolidated Working Capital from such designation at the end of such period. 

  
 9 

 “Contractual Obligation” means as to any Person, any provision of any security
issued by such Person or of any agreement, instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. 

“Co-Syndication Agents” means Silicon Valley Bank and SunTrust Bank, in their capacity as co-syndication agents hereunder.

 “Counterpart Agreement” means a Counterpart Agreement substantially in the form of Exhibit H delivered by a Loan
Party pursuant to Section 5.10. 
 “Debtor Relief Laws” means the Bankruptcy Code, and all other liquidation,
conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in
effect. 
 “Declining Lender” has the meaning set forth in Section 2.20. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means, subject to
Section 2.21(b), any Lender that (a) has failed to (i) fund all or any portion of its Loans within two Business Days of the date such Loans were required to be funded hereunder, (ii) fund any portion of its participations in
Letters of Credit or Swing Line Loans or (iii) pay to the Administrative Agent or any other Lender any other amount required to be paid by it hereunder within three Business Days of the date when due, unless, in each case, such Lender notifies
the Administrative Agent and the Borrower in writing that such failure is the result of such Lender’s good faith determination that one or more conditions precedent to such funding or payment (each of which conditions precedent, together with
any applicable default, shall be specifically identified in such writing) has not been satisfied, (b) has notified the Borrower, Issuing Bank, Swing Line Lender or the Administrative Agent in writing that it does not intend to comply with its
funding obligations hereunder, or has made a public statement to that effect (unless such writing or public statement relates to such Lender’s obligation to fund a Loan hereunder and states that such position is based on such Lender’s good
faith determination that a condition precedent to funding (which condition precedent, together with any applicable default, shall be specifically identified in such writing or public statement) cannot be satisfied), (c) has failed, within three
Business Days after written request by the Administrative Agent or the Borrower, to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective funding obligations and participations in then outstanding
Letters of Credit and Swing Line Loans hereunder (provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon receipt of such written confirmation by the Administrative Agent and the Borrower), or (d) has,
or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law, or (ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of
creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit Insurance Corporation or any other state or federal regulatory authority acting in such a capacity; provided that
a Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not
result in or provide such Lender with immunity from the jurisdiction of courts within the United States or 

  
 10 

 
from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any contracts or
agreements made with such Lender. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under clauses (a) through (d) above shall be conclusive and binding absent manifest error, and such Lender shall be deemed
to be a Defaulting Lender (subject to Section 2.21(c)) upon delivery of written notice of such determination to the Borrower and each Lender. 

“Deferred Payment Obligations” has the meaning set forth in Section 6.1(j). 

“ Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.6.

 “Disqualified Equity Interest” means any Equity Interest which, by its terms (or by the terms of any security or other
Equity Interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (i) matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily
redeemable (other than solely for Equity Interests which are not otherwise Disqualified Equity Interests), pursuant to a sinking fund obligation or otherwise, (ii) is redeemable at the option of the holder thereof (other than solely for Equity
Interests which are not otherwise Disqualified Equity Interests and the payment in cash in lieu of the issuance of fractional shares of such Equity Interests), in whole or in part or (iii) is or becomes convertible into or exchangeable (unless
at the sole option of the issuer thereof) for Indebtedness or any other Equity Interests that would constitute Disqualified Equity Interests, in each case, prior to the date that is 181 days after the Maturity Date then in effect; provided
that Equity Interests will not constitute Disqualified Equity Interests solely because of provisions giving holders thereof the right to require repurchase or redemption upon an “asset sale” or “change of control” occurring prior
to the date that is 181 days after the Maturity Date then in effect if the payment upon such redemption or repurchase is contractually subordinated in right of payment to the Obligations. 

“dollars” or “$” refers to lawful money of the United States of America. 

“Domestic Subsidiary” means any Subsidiary that is organized under the laws of any political subdivision of the United
States. 
 “Environmental Laws” means any and all foreign, Federal, state, local or municipal laws, rules, orders,
regulations, statutes, ordinances, codes, decrees, requirements of any Governmental Authority or other Requirements of Law (including common law) regulating, relating to or imposing liability or standards of conduct concerning protection of human
health or the environment, as now or may at any time hereafter be in effect. 
 “Environmental Liability” means any
liability, contingent or otherwise (including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrower, any other Loan Party or any of their respective Subsidiaries directly or indirectly
resulting from or based upon (a) a violation of an Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Materials of Environmental Concern, (c) exposure to any Materials of
Environmental Concern, (d) the release or threatened release of any Materials of Environmental Concern into the environment, or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed
with respect to any of the foregoing. 
 “Equity Interests” means shares of capital stock, partnership interests,
membership interests in a limited liability company, beneficial interests in a trust or other equity ownership interests in a Person, and any warrants, options or other rights entitling the holder thereof to purchase or acquire any such equity
interest; provided that Equity Interests shall not include any debt securities that are convertible into or exchangeable for any combination of Equity Interests and/or cash. 

  
 11 

 “ERISA” means the U.S. Employee Retirement Income Security Act of 1974, as
amended from time to time, and the regulations promulgated and rulings issued thereunder. 
 “ERISA Affiliate” means any
person that for purposes of Title I or Title IV of ERISA or Section 412 of the Code would be deemed at any relevant time to be a single employer or otherwise aggregated with the Borrower or a Subsidiary under Section 414(b), (c),
(m) or (o) of the Code or Section 4001 of ERISA. 
 “ERISA Event” means any one or more of the following:
(a) any reportable event, as defined in Section 4043 of ERISA, with respect to a Plan; (b) the termination of any Plan under Section 4041 of ERISA; (c) the institution of proceedings by the PBGC under Section 4042 of
ERISA for the termination of, or the appointment of a trustee to administer, any Plan; (d) the failure to make a required contribution to any Plan that would result in the imposition of a lien or other encumbrance or the provision of security
under Section 430 of the Code or Section 303 or 4068 of ERISA, or the arising of such a lien or encumbrance; (e) any Borrower, Subsidiary or any ERISA Affiliate requests a minimum funding waiver or fails to satisfy the minimum funding
standard under Section 412 of the Code or Section 302 of ERISA; (f) a determination that any Plan is, or is reasonably expected to be, considered an at-risk plan within the meaning of Section 430 of the Code or Section 303
of ERISA; (g) engaging in a non-exempt prohibited transaction within the meaning of Section 4975 of the Code or Section 406 of ERISA with respect to a Plan; (h) the complete or partial withdrawal of any Borrower, Subsidiary or
any ERISA Affiliate from a Multiemployer Plan or the notification to any Borrower, Subsidiary or any ERISA Affiliate that a Multiemployer Plan is in reorganization; or (i) a determination that any Plan is in endangered or critical status under
Section 432 of the Code or Section 305 of ERISA. 
 “ERISA Funding Rules” means the rules regarding minimum
required contributions (including any installment payment thereof) to Pension Plans, as set forth in Section 412 of the Code and Section 302 of ERISA, with respect to Plan years ending prior to the effective date of the Pension Protection
Act of 2006, and thereafter, as set forth in Sections 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 

“Eurodollar”, when used in reference to any Loan or Borrowing, refers to whether such Loan, or the Loans comprising such
Borrowing, are bearing interest at a rate determined by reference to the Adjusted LIBO Rate. 
 “Event of Default” has the
meaning set forth in Section 8.1. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended from
time to time and any successor statute. 
 “Excluded Foreign Subsidiary” means any Subsidiary, at any date of
determination, (a) that is a “controlled foreign corporation” as defined in Section 957 of the Code, or (b) that is a Subsidiary of a “controlled foreign corporation” as defined in Section 957 of the Code 

“Excluded Subsidiary” means (i) any Immaterial Subsidiary, (ii) any Unrestricted Subsidiary and (iii) any
Excluded Foreign Subsidiary; provided, that, any Subsidiary that has provided a Guarantee (or is otherwise an obligor) of any Material Indebtedness or has granted any Lien to secure any Material Indebtedness shall not be an “Excluded
Subsidiary” hereunder. 

  
 12 

 “Excluded Swap Obligation” shall mean, with respect to any Guarantor, any
guarantee of any Obligations under any Secured Swap Agreement if, and only to the extent that and for so long as, all or a portion of the guarantee of such Guarantor of, or the grant by such Guarantor of a security interest to secure, such
Obligation under any Secured Swap Agreement (or any guarantee thereof) is or becomes illegal or unlawful under the Commodity Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official
interpretation of any thereof) by virtue of such Guarantor’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange Act at the time the guarantee of such Guarantor or the grant of
such security interest would otherwise have become effective with respect to such Obligation under a Secured Swap Agreement but for such Guarantor’s failure to constitute an “eligible contract participant” at such time. 

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made
by or on account of any obligation of the Borrower hereunder, (a) Taxes imposed on (or measured by) its net income or gross profit, franchise Taxes, and branch profits Taxes, in each case imposed by the jurisdiction (or any political subdivision
thereof) under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located, (b) in the case of a Foreign Lender (other than an
assignee pursuant to a request by the Borrower under Section 2.18(b)), any United States withholding Tax that is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with Section 2.16(e), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of
a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.16(a), (c) or (d), (c) any U.S. withholding Taxes imposed under FATCA and
(d) any backup withholding tax that is required by the Code to be withheld from amounts payable to a Lender other than a Foreign Lender. 

“FATCA” means Sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or successor version
that is substantively comparable and not materially more onerous to comply with) and any current or future regulations or official interpretations thereof. 

“Federal Funds Effective Rate “ means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of
1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not
so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of
recognized standing selected by it. 
 “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower. 
 “Financial Performance Covenant” has the meaning set forth in
Section 6.12. 
 “FitBit International Holdings” means FitBit International Holdings, a company organized and
existing under the laws of Ireland. 
 “FitBit IPCo” means FitBit Holdings, a company organized and existing under the laws
of Ireland. 
 “Flood Hazard Property” means any Material Real Estate Asset located in an area designated by the Federal
Emergency Management Agency as having special flood or mud slide hazards. 

  
 13 

 “Flood Laws” means the National Flood Insurance Reform Act of 1994 and related
legislation (including the regulations of the Board of Governors of the Federal Reserve System). 
 “Foreign Lender” means
any Lender that is organized under the laws of a jurisdiction other than that in which the Borrower is located. For purposes of this definition, the United States of America, each State thereof and the District of Columbia shall be deemed to
constitute a single jurisdiction. 
 “Foreign Subsidiary” means any Subsidiary other than a Domestic Subsidiary. 

“GAAP” means generally accepted accounting principles in the United States of America. 

“Governmental Acts” means any act or omission, whether rightful or wrongful, of any present or future de jure or de facto
government or Governmental Authority. 
 “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or
administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Grantor” has the meaning set forth in the Security Agreement. 

“ Guarantee “ of or by any Person (the “guarantor”) means any obligation, contingent or otherwise, of the guarantor
guaranteeing or having the economic effect of guaranteeing any Indebtedness of any other Person (the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of the guarantor, direct or
indirect, (a) to purchase or pay (or advance or supply funds for the purchase or payment of) such Indebtedness or other obligation or to purchase (or to advance or supply funds for the purchase of) any security for the payment thereof,
(b) to purchase or lease property, securities or services for the purpose of assuring the owner of such Indebtedness of the payment thereof, (c) to maintain working capital, equity capital or any other financial statement condition or liquidity
of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other obligation or (d) as an account party in respect of any letter of credit or letter of guaranty issued to support such Indebtedness; provided,
that the term Guarantee shall not include endorsements for collection or deposit in the ordinary course of business, or customary indemnification obligations entered into in connection with any Acquisition or disposition of assets or of other
entities (other than to the extent that the primary obligations that are the subject of such indemnification obligation would be considered Indebtedness hereunder). 

“Guaranteed Obligation” has the meaning set forth in Section 7.01. 

“Guarantor” means (i) each Subsidiary that is not an Excluded Subsidiary and (ii) with respect to Obligations
incurred directly by any Subsidiary, the Borrower. 
 “Guaranty” means the guaranty of each Guarantor set forth in
Article VII. 
 “Immaterial Subsidiary” means, at any date of determination, a Subsidiary (other than a Restricted
Subsidiary) of the Borrower (a) whose total assets as of the most recent available quarterly or year-end financial statements were less than 5% of the total assets of the Borrower and its Restricted Subsidiaries at such date or (b) whose
gross revenues as of the most recent available quarterly or year-end 

  
 14 

 
financial statements were less than 5% of the consolidated gross revenues of the Borrower and its Restricted Subsidiaries for such period, in each case determined in accordance with GAAP;
provided, that; in no event shall (i) the total assets of all Immaterial Subsidiaries in the aggregate as of the most recent available quarterly or year-end financial statements exceed 10% of the total assets of the Borrower and its
Restricted Subsidiaries at such date or (ii) the gross revenues of all Immaterial Subsidiaries in the aggregate as of the most recent available quarterly or year-end financial statements exceed 10% of the consolidated gross revenues of the
Borrower and its Restricted Subsidiaries for such period, in each case determined in accordance with GAAP. 
 “Increase
Date” has the meaning set forth in Section 2.19(a). 
 “Incremental Commitment” has the meaning set
forth in Section 2.19(a). 
 “Incremental Lender” has the meaning set forth in Section 2.19(a).

 “Incremental Revolving Lender” has the meaning set forth in Section 2.19(a). 

“Incremental Term lender” has the meaning set forth in Section 2.19(a). 

“Indebtedness” of any Person at any date means, without duplication, (a) all indebtedness of such Person for borrowed
money, (b) all obligations of such Person for the deferred purchase price of property or services (other than current trade payables incurred in the ordinary course of such Person’s business), (c) all obligations of such Person
evidenced by notes, bonds, debentures or other similar instruments, (d) all indebtedness created or arising under any conditional sale or other title retention agreement with respect to property acquired by such Person (even though the rights
and remedies of the seller or lender under such agreement in the event of default are limited to repossession or sale of such property), (e) all Capital Lease Obligations of such Person, (f) all obligations of such Person, contingent or
otherwise, as an account party or applicant under or in respect of bankers’ acceptances, letters of credit, surety bonds or similar arrangements, (g) all obligations of such Person to purchase, redeem, retire, defease or otherwise make any
payment in respect of any Disqualified Equity Interests in such Person or any Equity Interests in any other Person, or any warrant, right or option to acquire such Equity Interests, valued, in the case of a redeemable preferred interest, at the
greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends, (h) all Guarantees of such Person in respect of obligations of the kind referred to in clauses (a) through (g) above and
(i) all obligations of the kind referred to in clauses (a) through (h) above secured by (or for which the holder of such obligation has an existing right, contingent or otherwise, to be secured by) any Lien on property (including
accounts and contract rights) owned or acquired by such Person, whether or not such Person has assumed or become liable for the payment of such obligation. The Indebtedness of any Person shall include the Indebtedness of any other entity (including
any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such
Indebtedness expressly provide that such Person is not liable therefor. 
 “Indemnified Taxes” means Taxes, other than
Excluded Taxes, imposed on or with respect to any payment made by or on account of any obligation of any Loan Party under any Loan Document. 

“Indemnitee” has the meaning set forth in Section 10.3(b). 

“Information Documents” means at any time any memorandum, lender’s presentation or other written information, in each
case as then supplemented or amended and including any documents attached thereto or incorporated by reference therein, prepared by the Borrower and given to any Lender in connection with the Transactions. 

  
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 “Intellectual Property” means all rights, priorities and privileges relating to
intellectual property, whether arising under United States, multinational or foreign laws or otherwise, including copyrights, copyright licenses, patents, patent licenses, trademarks, trademark licenses, technology, know-how and processes, and all
rights to sue at law or in equity for any infringement or other impairment thereof, including the right to receive all proceeds and damages therefrom. 

“Intellectual Property Security Agreements” has the meaning set forth in the Security Agreement. 

“ Intercreditor Agreement” means that certain Intercreditor Agreement, dated as of the Closing Date, by and between the
Collateral Agent, the “Administrative Agent” under the Guarantee and Collateral Agreement (as defined in the ABL Credit Agreement) and the Borrower. 

“Interest Election Request “ means a request by the Borrower to convert or continue a Borrowing in accordance with
Section 2.7. 
 “Interest Payment Date” means (a) with respect to any ABR Loan, the last day of each
March, June, September and December and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest Period of
more than three months’ duration, each day prior to the last day of such Interest Period that occurs at intervals of three months’ duration after the first day of such Interest Period. 

“Interest Period” means, with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, two, three or six months thereafter, as the Borrower may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day, such
Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on the
next preceding Business Day and (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes hereof, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter shall be
the effective date of the most recent conversion or continuation of such Borrowing. 
 “Investment” means any loan,
advance, extension of credit (by way of Guarantee or otherwise) or capital contributions by the Borrower or any of its Restricted Subsidiaries to any other Person (other than the Borrower or any Guarantor). 

“IPO” means a bona fide underwritten sale to the public of common stock of the Borrower pursuant to a registration statement
(other than on Form S-8 or any other form relating to securities issuable under any benefit plan of the Borrower or any of its Subsidiaries, as the case may be) that is declared effective by the Securities and Exchange Commission. 

“IRS” means the U.S. Internal Revenue Service. 

“Issuance Notice” means an Issuance Notice substantially in the form of Exhibit B-2. 

  
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 “Issuing Bank” means Morgan Stanley Bank, N.A. acting through such of its
Affiliates or branches, as it may designate in its capacity as an issuer of standby Letters of Credit hereunder (it being understood that Morgan Stanley Bank, N.A. (whether acting through any of its Affiliates or branches or otherwise) shall only be
obligated to issue standby Letters of Credit and shall not be obligated to issue any commercial Letters of Credit hereunder), together with its permitted successors and assigns in such capacity. 

“Joint Bookrunner” means Morgan Stanley Senior Funding, Inc., Silicon Valley Bank and SunTrust Robinson Humphrey, Inc., in
their capacity as joint lead arrangers and joint bookrunners, and any successors thereto. 
 “Joint Venture” means a joint
venture, partnership or other similar arrangement, whether in corporate, partnership or other legal form; provided, in no event shall any corporate subsidiary of any Person be considered to be a Joint Venture to which such Person is a party.

 “Lender Counterparty” means each Lender, each Agent and each of their respective Affiliates counterparty to a Swap
Agreement (including any Person who is an Agent or a Lender (and any Affiliate thereof) at the time of entry into such Swap Agreement but subsequently, after entering into a Swap Agreement, ceases to be an Agent or a Lender (or an Affiliate
thereof), as the case may be). 
 “Lenders” means the Persons listed on Schedule 2.1 and any other Person that shall
have become a party hereto pursuant to an Assignment and Assumption or pursuant to Section 2.19, other than any such Person that ceases to be a party hereto pursuant to an Assignment and Assumption. 

“Letter of Credit” means a standby letter of credit issued or to be issued by Issuing Bank pursuant to this Agreement in a
form approved by Issuing Bank. 
 “Letter of Credit Sublimit” means the lesser of (a) $10,000,000 and (b) the
aggregate unused amount of the Commitments then in effect. 
 “Letter of Credit Usage “ means, as at any date of
determination, the sum of (a) the maximum aggregate amount which is, or at any time thereafter may become, available for drawing under all Letters of Credit then outstanding and (b) the aggregate amount of all drawings under Letters of
Credit honored by Issuing Bank and not theretofore reimbursed by or on behalf of the Borrower. 
 “LIBO Rate” means, with
respect to any Eurodollar Borrowing for any Interest Period, the rate appearing on Reuters Screen LIBOR01 Page (or on any successor or substitute page of such service, or any successor to or substitute for such service, providing rate quotations
comparable to those currently provided on such page of such service, as determined by the Administrative Agent from time to time for purposes of providing quotations of interest rates applicable to dollar deposits in the London interbank market) at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest Period. In the event that such rate is not available at such time
for any reason, then the “LIBO Rate” with respect to such Eurodollar Borrowing for such Interest Period shall be the rate at which dollar deposits of $5,000,000 and for a maturity comparable to such Interest Period are offered by
the principal London office of the Administrative Agent in immediately available funds in the London interbank market at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period. 

“Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance,
charge or security interest in, on or of such asset, (b) the interest of a vendor 

  
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or a lessor under any conditional sale agreement, capital lease or title retention agreement (or any financing lease having substantially the same economic effect as any of the foregoing)
relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. 

“Limited Information “ means (a) information regarding the terms of, and the Borrower’s compliance with, this
Agreement and the other Loan Documents, (b) information concerning the financial position, results of operations and cash flows of the Borrower and its Subsidiaries, including, without limitation, the Information Documents and the financial
statements provided by the Borrower pursuant to Sections 3.4(a), 5.1(a) and (b) and any information concerning contingent liabilities, commitments and other exposures that would be material to determinations concerning the
creditworthiness of the Borrower and its Subsidiaries, (c) any notice, certificate or other document delivered by the Borrower pursuant to the terms of this Agreement or any other Loan Document, (d) information regarding the Consolidated
Total Leverage Ratio or the corporate debt rating (if any) of the Borrower and (e) information regarding the credit support for the credit facility established hereunder, including the Collateral and Guarantors (it being understood that the
term “Limited Information” does not include product designs, software and technology, inventions, trade secrets, know-how or other proprietary information of a like nature). 

“Loan Documents” means this Agreement (including any amendment hereto or waiver hereunder), the Notes (if any), any
Counterpart Agreement, the Collateral Documents, the Perfection Certificate and any documents or certificates executed by the Borrower in favor of Issuing Bank relating to Letters of Credit. 

“Loan Parties” means the Borrower and the Guarantors. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to this Agreement. 

“Margin Stock” as defined in Regulation U of the Board as in effect from time to time. 

“Material Adverse Effect” means a material adverse effect on (a) the operations, business, assets, properties or
financial condition of the Borrower and its Subsidiaries, taken as a whole, (b) the rights and remedies of the Administrative Agent or any Lender under any Loan Documents, or of the ability of any Loan Party to perform its obligations under any Loan
Documents to which it is a party, or (c) the legality, validity, binding effect or enforceability against any Loan Party of any Loan Documents to which it is a party 

“Material Indebtedness” means (i) Indebtedness outstanding under the ABL Documents and (ii) Indebtedness (other
than any Indebtedness under the Loan Documents), or obligations in respect of one or more Swap Agreements, of any one or more of the Borrower and its Subsidiaries in a principal amount exceeding $5,000,000. For purposes of determining Material
Indebtedness, the “principal amount” of the obligations of the Borrower or any Subsidiary in respect of any Swap Agreement at any time shall be the maximum aggregate amount (giving effect to any netting agreements) that the Borrower or
such Subsidiary would be required to pay if such Swap Agreement were terminated at such time. 
 “Material Real Estate
Asset” means any domestic fee owned Real Estate Asset having a fair market value in excess of $1,000,000. 
 “Materials of
Environmental Concern” means any substance, material or waste that is defined, regulated, governed or otherwise characterized under any Environmental Law as hazardous or toxic or as a pollutant or contaminant (or by words of similar meaning
and regulatory effect), any 

  
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petroleum or petroleum products, asbestos, polychlorinated biphenyls, urea-formaldehyde insulation, molds or fungus, and radioactivity, radiofrequency radiation at levels known to be hazardous to
human health and safety. 
 “Maturity Date” means (a) August 13, 2018 or (b) with respect to the Commitments
of Consenting Lenders, as such date may be extended pursuant to Section 2.20. 
 “Maturity Date Extension
Request” means a request by the Borrower, in the form of Exhibit G hereto or such other form as shall be approved by the Administrative Agent, for the extension of the Maturity Date pursuant to Section 2.20. 

“Measurement Period” means, at any date of determination, the most recently completed four consecutive fiscal quarters of the
Borrower ended on such date. 
 “Moody’s” means Moody’s Investor Services, Inc. 

“Mortgage” means a mortgage, deed of trust or other similar instrument reasonably satisfactory to Collateral Agent. 

“Mortgaged Properties” means the real properties as to which the Collateral Agent for the benefit of the Secured Parties
shall be granted a Lien pursuant to the Mortgages. 
 “Multiemployer Plan” means any multiemployer plan as defined in
Section 4001(a)(3) of ERISA, which is contributed to by (or to which there is or could be an obligation to contribute of) the Borrower or a Subsidiary or an ERISA Affiliate, and each such plan for the five- year period immediately following the
latest date on which the Borrower, or a Subsidiary or an ERISA Affiliate contributed to or had an obligation to contribute to such plan. 

“New Term Loan Commitment” has the meaning set forth in Section 2.19(a). 

“Non-Consenting Lender” means any Lender that does not approve any consent, waiver or amendment that (a) requires the
approval of all Lenders or all affected Lenders in accordance with the terms of Section 10.2 and (b) has been approved by the Required Lenders. 

“Non-Defaulting Lender” means, at any time, each Lender that is not a Defaulting Lender at such time. 

“Non-U.S. Plan” means any plan, fund (including, without limitation, any superannuation fund) or other similar program
established, contributed to (regardless of whether through direct contributions or through employee withholding) or maintained outside the United States by the Borrower or one or more Subsidiaries primarily for the benefit of employees of the
Borrower or such Subsidiaries residing outside the United States, which plan, fund or other similar program provides, or results in, retirement income, a deferral of income in contemplation of retirement or payments to be made upon termination of
employment, and which plan is not subject to ERISA or the Code. 
 “Note” means a Revolving Loan Note or a Swing Line Note.

 “Obligations” means all amounts owing by any Loan Party to the Agent, any Lender or any Lender Counterparty pursuant to
the terms of this Agreement, any Secured Swap Agreement (including payments for early termination of any Secured Swap Agreements) or any other Loan Document (including reimbursement of amounts drawn under Letters of Credit and all interest which

  
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accrues after the commencement of any case or proceeding in bankruptcy after the insolvency of, or for the reorganization of the Borrower or any of its Subsidiaries, whether or not allowed in
such case or proceeding); provided that, in no event will the Obligations of any Guarantor include any Excluded Swap Obligations of such Guarantor. 

“Obligee Guarantor” has the meaning set forth in Section 7.6. 

“OFAC” has the meaning set forth in Section 3.14. 

“Operating Documents” means for any Person as of any date, such Person’s constitutional documents, formation documents
and/or certificate of incorporation (or equivalent thereof), as certified (if applicable) by such Person’s jurisdiction of formation as of a recent date, and, (a) if such Person is a corporation, its bylaws or memorandum and articles of
association (or equivalent thereof) in current form, (b) if such Person is a limited liability company, its limited liability company agreement (or similar agreement), and (c) if such Person is a partnership, its partnership agreement (or
similar agreement), each of the foregoing with all current amendments or modifications thereto. 
 “Other Taxes” means any
and all present or future stamp, court or documentary taxes or any other excise, property, intangible, recording, filing or similar Taxes which arise from any payment made, from the execution, delivery, performance, enforcement or registration of,
from the receipt or perfection of a security interest under, or otherwise with respect to, this Agreement and the other Loan Documents; excluding, however, such taxes imposed with respect to an assignment (other than (a) such taxes that arise
from the enforcement of this Agreement or the other Loan Documents, and (b) such taxes imposed with respect to an assignment that occurs as a result of the Borrower’s request pursuant to Section 2.18(b)). 

“Original Lenders” means each of the Joint Bookrunners and Co-Syndication Agents as of the Closing Date, or any of such
Person’s Affiliates that is a Lender as of the Closing Date. 
 “Participant” has the meaning set forth in
Section 10.4. 
 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA and any
successor entity performing similar functions. 
 “Pension Plan” means any “employee pension benefit plan” within
the meaning of Section 3(2) of ERISA, other than a Multiemployer Plan, that is subject to Title IV of ERISA, Section 412 of the Code or Section 302 of ERISA and is maintained or contributed to (or obligated to be contributed) in whole
or in part by the Borrower, any Subsidiary or any ERISA Affiliate or with respect to which any of the Borrower, any Subsidiary or any ERISA Affiliate has actual or contingent liability or had any such liability for the five-year period immediately
following the latest date on which the Borrower, a Subsidiary or an ERISA Affiliate maintained, contributed to or had an obligation to contribute to such plan. 

“Perfection Certificate” means a certificate in form reasonably satisfactory to Collateral Agent that provides information
with respect to the real, personal or mixed property of each Loan Party. 
 “Permitted Acquisition” means any acquisition
by Borrower or any of its wholly owned Restricted Subsidiaries, whether by purchase, merger or otherwise, of all or substantially all of the assets of, all of the Equity Interests of, or select assets, including without limitation, accounts or a
business line or unit or a division of, any Person; provided that the following conditions shall have been satisfied in connection therewith: 

(a) immediately prior to, and after giving effect thereto, no Default or Event of Default shall have occurred and be continuing or would
result therefrom; 

  
 20 

 (b) all transactions in connection therewith shall be consummated, in all material respects, in
accordance with all applicable laws and in conformity with all applicable Requirements of Law; 
 (c) in the case of the acquisition of
Equity Interests, all of the Equity Interests (except for any such securities in the nature of directors’ qualifying shares required pursuant to applicable law) acquired or otherwise issued by such Person or any newly formed Restricted
Subsidiary of Borrower in connection with such acquisition shall be owned 100% by Borrower or a wholly owned Restricted Subsidiary, and Borrower shall have taken, or caused to be taken, as of the date such Person becomes a Restricted Subsidiary of
Borrower, each of the actions set forth in Section 5.10 and 5.11, as applicable; 
 (d) any Person or assets or division
acquired shall be in the same business or lines of business in which Borrower and/or its Restricted Subsidiaries are engaged or similar, ancillary or reasonably related businesses; 

(e) the aggregate Acquisition Consideration paid or payable for all acquisitions of any Persons (or with respect to asset acquisitions, for
any asset to be held by any Persons) that are not or do not become Loan Parties shall not exceed $250,000,000 in the aggregate during the term of this Agreement; 

(f) after giving effect to such proposed acquisition and the incurrence of any Indebtedness in connection therewith, the Consolidated Total
Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal quarter most recently ended for which financial statements are required to be delivered pursuant to Section 5.1, shall not exceed the maximum Consolidated
Total Leverage Ratio permitted under Section 6.12 for such period; 
 (g) such purchase or acquisition shall not constitute an
Unfriendly Acquisition; and 
 (h) Borrower shall have delivered to Administrative Agent (A) at least three Business Days prior to such
proposed acquisition, a description of the aggregate consideration for such acquisition, which shall include the aggregate amount of such consideration that will be Indebtedness hereunder as certified by an Responsible Officer of the Borrower, and
(B) promptly upon request by Administrative Agent, (i) a copy of the purchase agreement related to the proposed Permitted Acquisition (and any related documents reasonably requested by Administrative Agent) and (ii) quarterly and
annual financial statements of the Person whose Equity Interests or assets are being acquired for the twelve (12) month period immediately prior to such proposed Permitted Acquisition, including any audited financial statements, in each case to
the extent such financial statements are reasonably available. 
 “Permitted Encumbrances” means: 

(a) Liens imposed by law for taxes, assessments or governmental charges or levies that are not yet due or are being contested in compliance
with Section 5.4; 
 (b) carriers’, warehousemen’s, mechanics’, materialmen’s, landlord’s,
supplier’s, repairmen’s and other like Liens imposed by law, arising in the ordinary course of business and securing obligations that are not overdue by more than 60 days or are being contested in compliance with Section 5.4;

  
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 (c) pledges and deposits made in the ordinary course of business in compliance with workers’
compensation, unemployment insurance and other social security laws or regulations; 
 (d) deposits to secure the performance of bids, trade
contracts, leases, statutory obligations, surety bonds, performance bonds and other obligations of a like nature, in each case incurred in the ordinary course of business; 

(e) judgment liens and deposits to secure obligations under appeal bonds or letters of credit in respect of judgments that do not constitute
an Event of Default under Section 8.1(k); 
 (f) Uniform Commercial Code financing statements filed (or similar filings under
applicable law) solely as a precautionary measure in connection with operating leases; and 
 (g) easements, zoning restrictions,
rights-of-way, encroachments and similar encumbrances on real property imposed by law or arising in the ordinary course of business that do not secure any monetary obligations and do not materially detract from the value of the affected property or
interfere with the ordinary conduct of business of the Borrower or any Subsidiary. 
 “Permitted Investors” means the
collective reference to True Ventures II, L.P., Foundry Venture Capital 2007, L.P., Foundry Group Select Fund, L.P., Softbank Princeville Investment LP, SAP Ventures, Qualcomm Ventures, SoftTech VC II, L.P., and SoftTech VC III, L.P. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” as defined in
Section 3(3) of ERISA (other than a Multiemployer Plan). 
 “Platform Contribution License Agreement” means the
Platform Contribution License Agreement, effective as of August 1, 2014, by and between the Borrower and FitBit IPCo. 
 “Prime
Rate” means the rate of interest per annum from time to time published in the “Money Rates” or successor section of The Wall Street Journal as being the “Prime Lending Rate” or, if more than one rate is published as the
“Prime Lending Rate”, then the highest of such rates (each change in the Prime Rate to be effective as of the date of publication in The Wall Street Journal of a “Prime Lending Rate” that is different from that published on the
preceding Business Day); provided that in the event that The Wall Street Journal shall, for any reason, fail or cease to publish the “Prime Lending Rate”, the Administrative Agent shall choose a reasonably comparable index or source
to use as the basis for the “Prime Lending Rate”. 
 “Pro Forma Basis” with respect to any calculation or
determination for a Loan Party for any period, in making such calculation or determination on the specified date of determination (the “Determination Date”) means: 

(a) pro forma effect will be given to any Indebtedness incurred (“Incurred”) by such Loan Party or any of its
Subsidiaries (including by assumption of then outstanding Indebtedness) or by a Person becoming a Subsidiary after the beginning of the applicable period and on or before the Determination Date to the extent the Indebtedness is outstanding or is to
be Incurred on the Determination Date, as if such Indebtedness had been Incurred on the first day of such period; 

  
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 (b) pro forma calculations of interest on Indebtedness bearing a floating interest rate
will be made as if the rate in effect on the Determination Date (taking into account any Swap Agreement applicable to the Indebtedness) had been the applicable rate for the entire reference period; and 

(c) pro forma effect will be given to: (i) any acquisition or disposition of companies, divisions or lines of businesses by such
Loan Party and its Subsidiaries, including any acquisition or disposition of a company, division or line of business since the beginning of the reference period by a Person that became a Subsidiary after the beginning of the applicable period; and
(ii) the discontinuation of any discontinued operations; in each case of clauses (i) and (ii), that have occurred since the beginning of the applicable period and before the Determination Date as if such events had occurred, and, in the
case of any disposition, the proceeds thereof applied, on the first day of such period. To the extent that pro forma effect is to be given to an acquisition or disposition of a company, division or line of business, the pro forma
calculation will be calculated in good faith by a responsible financial or accounting officer of such Loan Party in accordance with Regulation S-X under the Securities Act, based upon the most recent full fiscal quarter for which the relevant
financial information is available. 
 “Pro Rata Share” means, with respect to any Lender, the percentage obtained by
dividing (a) the Revolving Exposure of that Lender by (b) the aggregate Revolving Exposure of all Lenders. 

“Projections” has the meaning set forth in Section 5.1(d). 

“Qualified ECP Guarantor” means, in respect of any Secured Swap Obligation, each Guarantor that has total assets exceeding
$10,000,000 at the time the relevant Guaranty or grant of the relevant Lien becomes effective with respect to such Secured Swap Obligation or constitutes an “eligible contract participant” under the Commodity Exchange Act or any
regulations promulgated thereunder and can cause another person to qualify as an “eligible contract participant” at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

“Qualified Equity Interests” means any Equity Interests that are not Disqualified Equity Interests. 

“Qualified IPO” means the issuance by the Borrower of its common Qualified Equity Interests in an underwritten primary public
offering (other than a public offering pursuant to a registration statement on Form S-8) pursuant to an effective registration statement filed with the SEC in accordance with the Securities Act (whether alone or in connection with a secondary public
offering) and such Equity Interests are listed on a nationally-recognized stock exchange in the United States. 
 “Real Estate
Asset” means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Loan Party in any real property. 

“Refunded Swing Line Loans” as defined in Section 2.3(c). 

“Register” has the meaning set forth in Section 10.4. 

“Reimbursement Date” has the meaning set forth in Section 2.4(d). 

“Related Parties” means, with respect to any specified Person, such Person’s Affiliates and the respective directors,
officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

  
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 “Required Lenders” means, at any time, Lenders having more than 50% of the
aggregate Revolving Exposure at such time; provided that in the circumstance where the aggregate Revolving Exposure is held by two or more Lenders, “Required Lenders” shall include two or more of such Lenders (it being understood that, for
purposes of this proviso, two or more Lenders that are Affiliates of each other shall be counted as one Lender). The Commitment and Loans of any Defaulting Lender shall be disregarded in determining Required Lenders at any time. 

“Requirement of Law” means as to any Person, the Operating Documents of such Person, and any law, treaty, rule or regulation
or determination of an arbitrator or a court or other Governmental Authority, in each case applicable to or binding upon such Person or any of its property or to which such Person or any of its property is subject. 

“Responsible Officer” means any of the President and Chief Executive Officer, Senior Vice President and Chief Financial
Officer of the applicable Loan Party, or any person designated by any such Loan Party in writing to the Administrative Agent from time to time, acting singly. 

“Restricted” means, when referring to cash or Cash Equivalents of the Borrower and its Restricted Subsidiaries, that such
cash or Cash Equivalents (a) appear (or would be required to appear) as “restricted” on the consolidated balance sheet of the Borrower (unless such appearance is related to the Liens permitted hereunder other than consensual Liens
which either are on assets which do not constitute Collateral or rank prior to the Liens in favor of the Secured Parties on the Collateral), (b) are subject to any Lien in favor of any Person other than (i) the Collateral Agent for the
benefit of the Secured Parties and (ii) other Liens permitted hereunder other than consensual Liens which either are on assets which do not constitute Collateral or rank prior to the Liens in favor of the Secured Parties on the Collateral or
(c) are not otherwise generally available for use by such Person or any Restricted Subsidiary of such Person so long as such Restricted Subsidiary is not prohibited by applicable law, Contractual Obligation or otherwise from transferring such
cash or Cash Equivalents to the Borrower. 
 “Restricted Payment” means any dividend or other distribution (whether in
cash, securities or other property) with respect to any Equity Interests in the Borrower or any Subsidiary, or any payment (whether in cash, securities or other property), including any sinking fund, similar deposit or withholding of shares for tax
purposes, on account of the purchase, redemption, retirement, acquisition, cancellation or termination of any such Equity Interests in the Borrower or any option, warrant or other right to acquire any such Equity Interests in the Borrower. 

“Restricted Subsidiary” means any Subsidiary other than an Unrestricted Subsidiary. 

“Revolving Exposure” means, with respect to any Lender as of any date of determination, (i) prior to the termination of the
Commitments, that Lender’s Commitment; and (ii) after the termination of the Commitments, the sum of (a) the aggregate outstanding principal amount of the Revolving Loans of that Lender, (b) in the case of Issuing Bank, the
aggregate Letter of Credit Usage in respect of all Letters of Credit issued by that Lender (net of any participations by Lenders in such Letters of Credit), (c) the aggregate amount of all participations by that Lender in any outstanding
Letters of Credit or any unreimbursed drawing under any Letter of Credit, (d) in the case of Swing Line Lender, the aggregate outstanding principal amount of all Swing Line Loans (net of any participations therein by other Lenders), and
(e) the aggregate amount of all participations by that Lender in any outstanding Swing Line Loans. 
 “Revolving Loan”
means a Loan made by a Lender to the Borrower pursuant to Section 2.1 and/or Section 2.19. 

  
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 “Revolving Loan Note” means a promissory note in the form of Exhibit D-1, as it
may be amended, restated, supplemented or otherwise modified from time to time. 
 “S&P” means Standard &
Poor’s, a Division of The McGraw -Hill Companies, Inc. 
 “SEC” means the Securities and Exchange Commission, or any
Governmental Authority succeeding to any of its principal functions. 
 “Sanctioned Entity” means (a) a country or a
government of a country, (b) an agency of the government of a country, (c) an organization directly or indirectly controlled by a country or its government, (d) a Person resident in or determined to be resident in a country, in each
case, that is subject to, or the target of, a country sanctions program administered and enforced by OFAC. 
 “Sanctioned
Person” means a Person named on the list of Specially Designated Nationals maintained by OFAC. 
 “Secured
Parties” has the meaning set forth in the Security Agreement. 
 “Secured Swap Agreement” means a Swap Agreement
among one or more Loan Parties and a Lender Counterparty. 
 “Securities Act” means the Securities Act of 1933, as amended.

 “Security Agreement” means the Security Agreement to be executed by each Loan Party substantially in the form of Exhibit
E, as it may be amended, restated, supplemented or otherwise modified from time to time. 
 “Security Supplement” has the
meaning set forth in the Security Agreement. 
 “Solvency Certificate” means a Solvency Certificate of a Financial Officer
of the Borrower substantially in the form of Exhibit I. 
 “Solvent” means, with respect to the Loan Parties on a
particular date, that on such date (a) the fair value of the present assets of the Loan Parties, taken as a whole, is greater than the total amount of liabilities, including, without limitation, contingent liabilities, of the Loan Parties, taken as
a whole, (b) the present fair saleable value of the assets of the Loan Parties, taken as a whole, is not less than the amount that will be required to pay the probable liability of the Loan Parties, taken as a whole, on their debts as they
become absolute and matured, (c) the Loan Parties, taken as a whole, do not intend to, and do not believe that they will, incur debts or liabilities (including current obligations and contingent liabilities) beyond their ability to pay such
debts and liabilities as they mature in the ordinary course of business and (d) the Loan Parties, taken as a whole, are not engaged in business or a transaction, and are not about to engage in business or a transaction, in relation to which
their property would constitute an unreasonably small capital. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and circumstances existing at such time, represents the amount that
can reasonably be expected to become an actual or matured liability (irrespective of whether such contingent liabilities meet the criteria for accrual under Statement of Financial Accounting Standard No. 5). 

“Statutory Reserve Rate” means a fraction (expressed as a decimal), the numerator of which is the number one and the
denominator of which is the number one minus the aggregate of the maximum reserve percentages (including any marginal, special, emergency or supplemental reserves) 

  
 25 

 
expressed as a decimal established by the Board to which the Administrative Agent is subject for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation
D of the Board). Such reserve percentages shall include those imposed pursuant to such Regulation D. Eurodollar Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for
proration, exemptions or offsets that may be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in
any reserve percentage. 
 “Subordinated Loan Agreement” means that certain Subordinated Loan and Security Agreement, dated
as of September 28, 2012, by and between Silicon Valley Bank and the Borrower. 
 “Subsidiary” means any subsidiary of
the Borrower. 
 “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, partnership, association or other entity the accounts of which would be consolidated with those of the parent in the parent’s consolidated financial statements if such financial statements were prepared
in accordance with GAAP as of such date, as well as any other corporation, limited liability company, partnership, association or other entity (a) of which securities or other ownership interests representing more than 50% of the equity or more
than 50% of the ordinary voting power or, in the case of a partnership, more than 50% of the general partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such date, otherwise Controlled, by the parent or
one or more subsidiaries of the parent or by the parent and one or more subsidiaries of the parent and which is required by GAAP to be consolidated in the consolidated financial statements of the parent. 

“Swap Agreement” means any agreement with respect to any swap, forward, future or derivative transaction or option or similar
agreement involving, or settled by reference to, one or more rates, currencies, commodities, equity or debt instruments or securities, or economic, financial or pricing indices or measures of economic, financial or pricing risk or value or any
similar transaction or any combination of these transactions; provided that no phantom stock or similar plan providing for payments only on account of services provided by current or former directors, officers, employees or consultants of the
Borrower or the Subsidiaries shall be a Swap Agreement. 
 “Swing Line Exposure” means, at any time, the aggregate
principal amount of all Swing Line Loans outstanding at such time. The Swing Line Exposure of any Lender at any time shall be its Applicable Percentage of the total Swing Line Exposure at such time. 

“Swing Line Lender” means Morgan Stanley Bank, N.A., in its capacity as Swing Line Lender hereunder, together with its
permitted successors and assigns in such capacity. 
 “Swing Line Loan” means a Loan made by Swing Line Lender to the
Borrower pursuant to Section 2.3. 
 “Swing Line Note” means a promissory note in the form of Exhibit
D-2, as it may be amended, restated, supplemented or otherwise modified from time to time. 
 “Swing Line Sublimit”
means the lesser of (i) $10,000,000, and (ii) the aggregate unused amount of Commitments then in effect. 

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by
any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

  
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 “Term Loan” has the meaning set forth in Section 2.19(c). 

“Total Utilization of Commitments” means, as at any date of determination, the sum of (a) the aggregate principal amount of
all outstanding Revolving Loans (other than Revolving Loans made for the purpose of repaying any Refunded Swing Line Loans or reimbursing Issuing Bank for any amount drawn under any Letter of Credit, but not yet so applied), (b) the aggregate
principal amount of all outstanding Swing Line Loans, and (c) the Letter of Credit Usage. 
 “Transactions” means the
execution, delivery and performance by the Loan Parties of each Loan Document to which it is a party, the borrowing of Loans and the use of the proceeds thereof. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to the Adjusted LIBO Rate or the Alternate Base Rate; provided that with respect to Swing Line Loans, such rate shall be determined by reference to the Alternate Base Rate only. 

“Unfriendly Acquisition” means any acquisition that has not, at the time of the first public announcement of an offer
relating thereto, been approved by the board of directors (or other legally recognized governing body) of the Person to be acquired; except that with respect to any acquisition of a non-U.S. Person, an otherwise friendly acquisition shall not be
deemed to be unfriendly if it is not customary in such jurisdiction to obtain such approval prior to the first public announcement of an offer relating to a friendly acquisition. 

“Unfunded Pension Liability” means the excess of a Pension Plan’s benefit liabilities under Section 4001(a)(16) of
ERISA, over the current value of that Pension Plan’s assets, determined in accordance with the assumptions used for funding the Pension Plan pursuant to Section 412 of the Code for the applicable plan year. 

“Unrestricted” means, when referring to cash or Cash Equivalents, that such cash or Cash Equivalents are not Restricted. 

“Unrestricted Subsidiary” means any Subsidiary that at the time of determination has previously been designated, and
continues to be, an Unrestricted Subsidiary in accordance with Section 5.10. 
 “USA Patriot Act” means the
Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 (Title III of Pub. L. No. 107-56 (signed into law October 26, 2001)), as amended from time to time. 

“U.S. Government Obligations” means obligations issued or directly and fully guaranteed or insured by the United States of
America or by any agent or instrumentality thereof, provided that the full faith and credit of the United States of America is pledged in support thereof. 

“U.S. Person” means any Person that is a “United States Person” as defined in Section 7701(a)(30) of the Code.

 “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are defined in Title IV of ERISA. 
 “Withholding Agent” means the Borrower and the
Administrative Agent. 

  
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 Section 1.2 Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Type (e.g., a “Eurodollar Loan”). Borrowings also may be classified and referred to by Type (e.g., a “Eurodollar Borrowing”). 

Section 1.3 Terms Generally. The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall be deemed to be followed by the phrase
“without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of or reference to any agreement, instrument or
other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, restated, amended and restated, supplemented or otherwise modified (subject to any restrictions on such amendments,
amendments and restatements, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and
Schedules shall be construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement, (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to
any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights and (f) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or
interpreting such law and any reference to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time. 

Section 1.4 Accounting Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature
shall be construed in accordance with GAAP, as in effect from time to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change
occurring after the date hereof in GAAP or in the application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become
effective until such notice shall have been withdrawn or such provision amended in accordance herewith. Notwithstanding the foregoing, all financial statements delivered hereunder shall be prepared, and all financial covenants contained herein shall
be calculated, without giving effect to any election under the Statement of Financial Accounting Standards No. 159 (ASC 825) (or any similar accounting principle) permitting or requiring a Person to value its financial liabilities or
Indebtedness at the fair value thereof. 
 ARTICLE II 

THE CREDITS 

Section 2.1 Commitments. Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving Loans to the
Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in (a) the aggregate outstanding principal amount of such Lender’s Revolving Loans exceeding such Lender’s Commitment or
(b) the Total Utilization of Commitments exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow Revolving Loans. Each Lender’s
Commitment shall expire on the Commitment Termination Date and all Revolving Loans and all other amounts owed hereunder with respect to the Revolving Loans and the Commitments shall be paid in full no later than such date. 

  
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 Section 2.2 Revolving Loans and Borrowings. 

(a) Each Revolving Loan shall be made as part of a Borrowing consisting of Revolving Loans made by the Lenders in accordance with their
respective Applicable Percentages. The failure of any Lender to make any Revolving Loan required to be made by it shall not relieve any other Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and no
Lender shall be responsible for any other Lender’s failure to make Revolving Loans as required. 
 (b) Subject to
Section 2.13, each Borrowing of Revolving Loans shall be comprised entirely of ABR Loans or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option may make any Eurodollar Loan by causing any
domestic or foreign branch or Affiliate of such Lender to make such Loan; provided that any exercise of such option shall not affect the obligation of the Borrower to repay such Loan in accordance with the terms of this Agreement. 

(c) At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate amount that is an
integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that
an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments. Borrowings of more than one Type may be outstanding at the same time; provided that there shall not at any time be more than a
total of ten Eurodollar Borrowings outstanding. 
 (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be
entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 

Section 2.3 Swing Line Loans. 

(a) During the Availability Period, subject to the terms and conditions hereof, Swing Line Lender may, from time to time in its sole
discretion, agree to make Swing Line Loans to the Borrower in the aggregate amount up to but not exceeding the Swing Line Sublimit; provided, that after giving effect to the making of any Swing Line Loan, in no event shall the Total
Utilization of Commitments exceed the Commitments then in effect. Amounts borrowed pursuant to this Section 2.3 may be repaid and reborrowed during the Availability Period. Swing Line Lender’s Commitment shall expire on the
Commitment Termination Date and all Swing Line Loans and all other amounts owed hereunder with respect to the Swing Line Loans and the Commitments shall be paid in full no later than such date. 

(b) Swing Line Loans shall be made in an aggregate minimum amount of $500,000 and integral multiples of $100,000 in excess of that amount.

 (c) With respect to any Swing Line Loans which have not been voluntarily prepaid by the Borrower pursuant to Section 2.10,
Swing Line Lender may at any time in its sole and absolute discretion, deliver to the Administrative Agent (with a copy to the Borrower), no later than 1:00 p.m. (New York City time) at least one Business Day in advance of the proposed date of
Borrowing, a notice (which shall be deemed to be a Borrowing Request given by the Borrower) requesting that each Lender holding a Commitment make Revolving Loans that are ABR Loans to the Borrower on such date in an amount equal to the amount of
such Swing Line Loans (the “Refunded Swing Line Loans”) outstanding 

  
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on the date such notice is given which Swing Line Lender requests Lenders to prepay. Anything contained in this Agreement to the contrary notwithstanding, (i) the proceeds of such Revolving
Loans made by the Lenders other than Swing Line Lender shall be immediately delivered by the Administrative Agent to Swing Line Lender (and not to the Borrower) and applied to repay a corresponding portion of the Refunded Swing Line Loans and
(ii) on the day such Revolving Loans are made, Swing Line Lender’s Pro Rata Share of the Refunded Swing Line Loans shall be deemed to be paid with the proceeds of a Revolving Loan made by Swing Line Lender to the Borrower, and such portion
of the Swing Line Loans deemed to be so paid shall no longer be outstanding as Swing Line Loans and shall no longer be due under the Swing Line Note of Swing Line Lender but shall instead constitute part of Swing Line Lender’s outstanding
Revolving Loans to the Borrower and shall be due under the Revolving Loan Note issued by the Borrower to Swing Line Lender. The Borrower hereby authorizes the Administrative Agent and Swing Line Lender to charge the Borrower’s accounts with the
Administrative Agent and Swing Line Lender (up to the amount available in each such account) in order to immediately pay Swing Line Lender the amount of the Refunded Swing Line Loans to the extent the proceeds of such Revolving Loans made by
Lenders, including the Revolving Loans deemed to be made by Swing Line Lender, are not sufficient to repay in full the Refunded Swing Line Loans. If any portion of any such amount paid (or deemed to be paid) to Swing Line Lender should be recovered
by or on behalf of the Borrower from Swing Line Lender in bankruptcy, by assignment for the benefit of creditors or otherwise, the loss of the amount so recovered shall be ratably shared among all Lenders in the manner contemplated by
Section 2.17. 
 (d) If for any reason Revolving Loans are not made pursuant to Section 2.3(c) in an amount
sufficient to repay any amounts owed to Swing Line Lender in respect of any outstanding Swing Line Loans on or before the third Business Day after demand for payment thereof by Swing Line Lender, each Lender holding a Commitment shall be deemed to,
and hereby agrees to, have purchased a participation in such outstanding Swing Line Loans, and in an amount equal to its Pro Rata Share of the applicable unpaid amount together with accrued interest thereon. Upon one Business Day’s notice from
Swing Line Lender, each Lender holding a Commitment shall deliver to Swing Line Lender an amount by wire transfer equal to its respective participation in the applicable unpaid amount in same day funds to the account of the Swing Line Lender most
recently designated by it for such purpose by notice to the Lenders. In the event any Lender holding a Commitment fails to make available to Swing Line Lender the amount of such Lender’s participation as provided in this paragraph, Swing Line
Lender shall be entitled to recover such amount on demand from such Lender together with interest thereon for three Business Days at the rate customarily used by Swing Line Lender for the correction of errors among banks and thereafter at the
Alternate Base Rate, as applicable. 
 (e) Notwithstanding anything contained herein to the contrary, (i) each Lender’s obligation
to make Revolving Loans for the purpose of repaying any Refunded Swing Line Loans pursuant to the foregoing clause (c) and each Lender’s obligation to purchase a participation in any unpaid Swing Line Loans pursuant to the immediately
preceding paragraph shall be absolute and unconditional and shall not be affected by any circumstance, including (A) any set off, counterclaim, recoupment, defense or other right which such Lender may have against Swing Line Lender, any Loan
Party or any other Person for any reason whatsoever; (B) the occurrence or continuation of a Default or Event of Default; (C) any adverse change in the business, operations, properties, assets, condition (financial or otherwise) or
prospects of any Loan Party; (D) any breach of this Agreement or any other Loan Document by any party thereto; or (E) any other circumstance, happening or event whatsoever, whether or not similar to any of the foregoing; provided
that such obligations of each Lender are subject to the condition that Swing Line Lender had not received prior notice from the Borrower or the Required Lenders that any of the conditions under Section 4.2 to the making of the applicable
Refunded Swing Line Loans or other unpaid Swing Line Loans, were not satisfied at the time such Refunded Swing Line Loans or unpaid Swing Line Loans were made; and (ii) Swing Line Lender shall not be obligated to make any Swing Line Loans
(A) if it has elected not to do so after the occurrence and during the continuation of 

  
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a Default or Event of Default, (B) it does not in good faith believe that all conditions under Section 4.2 to the making of such Swing Line Loan have been satisfied or waived by
the Required Lenders or (C) at a time when any Lender is a Defaulting Lender unless Swing Line Lender has entered into arrangements satisfactory to it and the Borrower to eliminate Swing Line Lender’s risk with respect to the Defaulting
Lender’s participation in such Swing Line Loan, including by cash collateralizing such Defaulting Lender’s Pro Rata Share of the outstanding Swing Line Loans. 

(f) Swing Line Lender may resign as Swing Line Lender upon 30 days prior written notice to the Administrative Agent, the Lenders and the
Borrower. Swing Line Lender may be replaced at any time by written agreement among the Borrower, the Administrative Agent and the successor Swing Line Lender. The Administrative Agent shall notify the Lenders of any such replacement of Swing Line
Lender. At the time any such replacement or resignation shall become effective, (i) the Borrower shall prepay any outstanding Swing Line Loans made by the resigning or removed Swing Line Lender, (ii) upon such prepayment, the resigning or
removed Swing Line Lender shall surrender any Swing Line Note held by it to the Borrower for cancellation, and (iii) the Borrower shall issue, if so requested by the successor Swing Line Loan Lender, a new Swing Line Note to the successor Swing
Line Lender, in the principal amount of the Swing Line Loan Sublimit then in effect and with other appropriate insertions. From and after the effective date of any such replacement or resignation, (x) any successor Swing Line Lender shall have
all the rights and obligations of a Swing Line Lender under this Agreement with respect to Swing Line Loans made thereafter and (y) references herein to the term “Swing Line Lender” shall be deemed to refer to such successor or to any
previous Swing Line Lender, or to such successor and all previous Swing Line Lenders, as the context shall require. 
 Section 2.4
Issuance of Letters of Credit and Purchase of Participations Therein. 
 (a) During the Availability Period, subject to the terms and
conditions hereof, Issuing Bank agrees to issue Letters of Credit (or amend, renew or extend an outstanding Letter of Credit) for the account of the Borrower in the aggregate amount up to but not exceeding the Letter of Credit Sublimit;
provided, (i) each Letter of Credit shall be denominated in Dollars; (ii) the stated amount of each Letter of Credit shall not be less than $250,000 or such lesser amount as is acceptable to Issuing Bank; (iii) after giving
effect to such issuance, in no event shall the Total Utilization of Commitments exceed the Commitments then in effect; (iv) after giving effect to such issuance, in no event shall the Letter of Credit Usage exceed the Letter of Credit Sublimit
then in effect and (v) in no event shall any standby Letter of Credit have an expiration date later than the earlier of (1) five days prior to the Commitment Termination Date and (2) the date which is one year from the date of
issuance of such standby Letter of Credit. Subject to the foregoing, Issuing Bank may agree that a standby Letter of Credit will automatically be extended for one or more successive periods not to exceed one year each, unless Issuing Bank elects not
to extend for any such additional period and provides notice to such effect to the Borrower as set forth in such Letter of Credit, as applicable; provided, Issuing Bank shall not extend any such Letter of Credit if it has received written
notice that an Event of Default has occurred and is continuing at the time Issuing Bank must elect to allow such extension; provided, further, if any Lender is a Defaulting Lender, Issuing Bank shall not be required to issue any Letter
of Credit unless Issuing Bank has entered into arrangements satisfactory to it and the Borrower to eliminate Issuing Bank’s risk with respect to the participation in Letters of Credit of the Defaulting Lender, including by cash collateralizing
such Defaulting Lender’s Pro Rata Share of the Letter of Credit Usage. 
 (b) Whenever the Borrower desires the issuance of a Letter of
Credit, it shall deliver to the Administrative Agent an Issuance Notice and Application no later than 1:00 p.m. (New York City time) at least five Business Days in advance of the proposed date of issuance. Such Application shall be accompanied by
documentary and other evidence of the proposed beneficiary’s identity as may reasonably be requested by the Issuing Bank to enable the Issuing Bank to verify the beneficiary’s identity or to 

  
 31 

 
comply with any applicable laws or regulations, including, without limitation, the USA Patriot Act. Upon satisfaction or waiver of the conditions set forth in Section 4.2, Issuing
Bank shall issue the requested Letter of Credit only in accordance with Issuing Bank’s standard operating procedures and UCP 600 or ISP98. Upon the issuance of any Letter of Credit or amendment or modification to a Letter of Credit, Issuing
Bank shall promptly notify the Administrative Agent, and the Administrative Agent shall promptly notify each Lender with a Commitment of such issuance, which notice shall be accompanied by a copy of such Letter of Credit or amendment or modification
to a Letter of Credit and the amount of such Lender’s respective participation in such Letter of Credit pursuant to Section 2.4(e). 

(c) In determining whether to honor any drawing under any Letter of Credit by the beneficiary thereof, Issuing Bank shall be responsible only
to accept the documents delivered under such Letter of Credit in accordance with UCP 600 or ISP98. As between the Borrower and Issuing Bank, the Borrower assumes all risks of the acts and omissions of, or misuse of the Letters of Credit issued by
Issuing Bank, by the respective beneficiaries of such Letters of Credit; provided that, such assumption of risk by the Borrower shall not affect any rights that the Borrower may have against such beneficiary. In furtherance and not in
limitation of the foregoing, Issuing Bank shall not be responsible for: (i) the form, validity, sufficiency, accuracy, genuineness or legal effect of any document submitted by any party in connection with the application for and issuance of any
such Letter of Credit, even if it should in fact prove to be in any or all respects invalid, insufficient, inaccurate, fraudulent or forged; (ii) the validity or sufficiency of any instrument transferring or assigning or purporting to transfer
or assign any such Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason; (iii) failure of the beneficiary of any such Letter of Credit to
comply fully with any conditions required in order to draw upon such Letter of Credit except as otherwise provided in this clause (c); (iv) errors, omissions, interruptions or delays in transmission or delivery of any messages, by mail, cable,
telegraph, telex or otherwise, whether or not they be in cipher; (v) errors in interpretation of technical terms; (vi) any loss or delay in the transmission or otherwise of any document required in order to make a drawing under any such
Letter of Credit or of the proceeds thereof; (vii) the misapplication by the beneficiary of any such Letter of Credit of the proceeds of any drawing under such Letter of Credit; or (viii) any consequences arising from causes beyond the
control of Issuing Bank, including any Governmental Acts; none of the above shall affect or impair, or prevent the vesting of, any of Issuing Bank’s rights or powers hereunder. Without limiting the foregoing and in furtherance thereof, any
action taken or omitted by Issuing Bank under or in connection with the Letters of Credit or any documents and certificates delivered thereunder, if taken or omitted in good faith, shall not give rise to any liability on the part of Issuing Bank to
the Borrower. Notwithstanding anything to the contrary contained in this Section 2.4(c), the Borrower shall retain any and all rights it may have against Issuing Bank for any liability arising solely out of the gross negligence or
willful misconduct of Issuing Bank as determined by a final, non-appealable judgment of a court of competent jurisdiction. 
 (d) In the
event Issuing Bank has honored a drawing under a Letter of Credit, it shall immediately notify the Borrower and the Administrative Agent, and the Borrower shall reimburse Issuing Bank on or before the Business Day immediately following the date on
which such drawing is honored (the “Reimbursement Date”) in an amount in Dollars and in same day funds equal to the amount of such honored drawing; provided, anything contained herein to the contrary notwithstanding,
(i) unless the Borrower shall have notified the Administrative Agent and Issuing Bank prior to 1:00 p.m. (New York City time) on the date such drawing is honored that the Borrower intends to reimburse Issuing Bank for the amount of such honored
drawing with funds other than the proceeds of Revolving Loans, the Borrower shall be deemed to have given a timely Borrowing Request to the Administrative Agent requesting Lenders with Commitments to make Revolving Loans that are ABR Loans on the
Reimbursement Date in an amount in Dollars equal to the amount of such honored drawing, and (ii) subject to satisfaction or waiver of the conditions specified in Section 4.2, Lenders with Commitments shall, on the Reimbursement
Date, make Revolving Loans that are ABR Loans in the amount of such 

  
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honored drawing, the proceeds of which shall be applied directly by the Administrative Agent to reimburse Issuing Bank for the amount of such honored drawing; and provided further,
if for any reason proceeds of Revolving Loans are not received by Issuing Bank on the Reimbursement Date in an amount equal to the amount of such honored drawing, the Borrower shall reimburse Issuing Bank, on demand, in an amount in same day funds
equal to the excess of the amount of such honored drawing over the aggregate amount of such Revolving Loans, if any, which are so received. Nothing in this Section 2.4(d) shall be deemed to relieve any Lender with a Commitment from its
obligation to make Revolving Loans on the terms and conditions set forth herein, and the Borrower shall retain any and all rights it may have against any such Lender resulting from the failure of such Lender to make such Revolving Loans under this
Section 2.4(d). 
 (e) Immediately upon the issuance of each Letter of Credit, each Lender having a Commitment shall be deemed
to have purchased, and hereby agrees to irrevocably purchase, from Issuing Bank a participation in such Letter of Credit and any drawings honored thereunder in an amount equal to such Lender’s Pro Rata Share of the maximum amount which is or at
any time may become available to be drawn thereunder. In the event that the Borrower shall fail for any reason to reimburse Issuing Bank as provided in Section 2.4(d), Issuing Bank shall promptly notify the Administrative Agent of such
event. The Administrative Agent shall then promptly notify each Lender with a Commitment of the unreimbursed amount of such honored drawing and of such Lender’s respective participation therein based on such Lender’s Pro Rata Share of the
Commitments. Each Lender with a Commitment shall make available to the Administrative Agent, for the account of Issuing Bank, an amount equal to its respective participation, in Dollars and in same day funds, no later than 12:00 p.m. (New York City
time) on the first Business Day after the date notified by Issuing Bank. In the event that any Lender with a Commitment fails to make available to the Administrative Agent on such Business Day the amount of such Lender’s participation in such
Letter of Credit as provided in this Section 2.4(e), Issuing Bank shall be entitled to recover such amount on demand from such Lender together with interest thereon for three Business Days at the rate customarily used by Issuing Bank for
the correction of errors among banks and thereafter at the Alternate Base Rate. Nothing in this Section 2.4(e) shall be deemed to prejudice the right of any Lender with a Commitment to recover from Issuing Bank any amounts made available
by such Lender to Issuing Bank pursuant to this Section 2.4 in the event that the payment with respect to a Letter of Credit in respect of which payment was made by such Lender constituted gross negligence or willful misconduct (as
determined by a final, non-appealable judgment of a court of competent jurisdiction) on the part of Issuing Bank. In the event Issuing Bank shall have been reimbursed by other Lenders pursuant to this Section 2.4(e) for all or any
portion of any drawing honored by Issuing Bank under a Letter of Credit, such Issuing Bank shall distribute to the Administrative Agent, who shall then distribute to each Lender which has paid all amounts payable by it under this
Section 2.4(e) with respect to such honored drawing, such Lender’s Pro Rata Share of all payments subsequently received by Issuing Bank from the Borrower in reimbursement of such honored drawing when such payments are received. Any
such distribution shall be made to a Lender at its primary address set forth in its Administrative Questionnaire or at such other address as such Lender may request. 

(f) The obligation of the Borrower to reimburse Issuing Bank for drawings honored under the Letters of Credit issued by it and to repay any
Revolving Loans made by Lenders pursuant to Section 2.4(d) and the obligations of Lenders under Section 2.4(e) shall be unconditional and irrevocable and shall be paid strictly in accordance with the terms hereof under all
circumstances including any of the following circumstances: (i) any lack of validity or enforceability of any Letter of Credit; (ii) the existence of any claim, set off, defense or other right which the Borrower or any Lender may have at
any time against a beneficiary or any transferee of any Letter of Credit (or any Persons for whom any such transferee may be acting), Issuing Bank, Lender or any other Person or, in the case of a Lender, against the Borrower, whether in connection
herewith, the transactions contemplated herein or any unrelated transaction (including any underlying transaction between the Borrower or one of its Restricted 

  
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Subsidiaries and the beneficiary for which any Letter of Credit was procured); (iii) any draft or other document presented under any Letter of Credit proving to be forged, fraudulent,
invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; (iv) payment by Issuing Bank under any Letter of Credit against presentation of a draft or other document which does not substantially
comply with the terms of such Letter of Credit; (v) any adverse change in the business, operations, properties, assets, condition (financial or otherwise) or prospects of the Borrower or any of its Restricted Subsidiaries; (vi) any breach
hereof or any other Loan Document by any party thereto; (vii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing; or (viii) the fact that an Event of Default or a Default shall have occurred and
be continuing. 
 (g) Without duplication of any obligation of the Borrower under Section 10.3, in addition to amounts payable
as provided herein, the Borrower hereby agrees to protect, indemnify, pay and save harmless Issuing Bank from and against any and all claims, demands, liabilities, damages and losses, and all reasonable and documented costs, charges and
out-of-pocket expenses (including reasonable fees, out-of-pocket expenses and disbursements of one primary counsel (with exceptions for conflicts of interest) and one local counsel in each relevant jurisdiction), which Issuing Bank may incur or be
subject to as a consequence, direct or indirect, of (i) the issuance of any Letter of Credit by Issuing Bank, other than as a result of the gross negligence or willful misconduct of Issuing Bank as determined by a final, non-appealable judgment
of a court of competent jurisdiction, or (ii) the failure of Issuing Bank to honor a drawing under any such Letter of Credit as a result of any Governmental Act. 

(h) An Issuing Bank may resign as Issuing Bank upon 60 days prior written notice to the Administrative Agent, the Lenders and the Borrower. An
Issuing Bank may be replaced at any time by written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank (provided that no consent will be required if the replaced Issuing Bank has no Letters of Credit or
reimbursement obligations with respect thereto outstanding) and the successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement of such Issuing Bank. From and after the effective date of any such replacement or
resignation, (i) any successor Issuing Bank shall have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit to be issued thereafter and (ii) references herein to the term “Issuing
Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to such successor and all previous Issuing Banks, as the context shall require. After the replacement or resignation of an Issuing Bank hereunder, the replaced
Issuing Bank shall remain a party hereto to the extent that Letters of Credit issued by it remain outstanding and shall continue to have all the rights and obligations of an Issuing Bank under this Agreement with respect to Letters of Credit issued
by it prior to such replacement or resignation, but shall not be required to issue additional Letters of Credit. 
 (i) If any Event of
Default shall occur and be continuing, on the Business Day that the Borrower receives notice from the Administrative Agent or the Required Lenders (or, if the maturity of the Loans has been accelerated, Lenders with Letter of Credit Usage
representing greater than 50% of the total Letter of Credit Usage) demanding the deposit of cash collateral pursuant to this paragraph, the Borrower shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent
and for the benefit of the Lenders, an amount in cash equal to 105% of Letter of Credit Usage as of such date plus any accrued and unpaid interest thereon; provided that the obligation to deposit such cash collateral shall become effective
immediately, and such deposit shall become immediately due and payable, without demand or other notice of any kind, upon the occurrence of any Event of Default with respect to the Borrower described in Section 8.1(h) or (i). Such
deposit shall be held by the Administrative Agent as collateral for the payment and performance of the obligations of the Borrower under this Agreement. The Administrative Agent shall have exclusive dominion and control, including the exclusive
right of withdrawal, over such account. Other than any interest earned on the investment of such deposits, which investments shall be made at the option and sole discretion of the Administrative 

  
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Agent and at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if any, on such investments shall accumulate in such account. Moneys in such account
shall be applied by the Administrative Agent to reimburse the Issuing Bank for any disbursements under Letters of Credit made by it and for which it has not been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the Letter of Credit Usage at such time or, if the maturity of the Loans has been accelerated (but subject to the consent of Lenders with Letter of Credit Usage representing greater than 50% of the total
Letter of Credit Usage), be applied to satisfy other obligations of the Borrower under this Agreement. If the Borrower is required to provide an amount of cash collateral hereunder as a result of the occurrence of an Event of Default, such amount
(to the extent not applied as aforesaid) shall be returned to the Borrower within five Business Days after all Events of Default have been cured or waived. 

Section 2.5 Requests for Borrowings. To request a Borrowing (other than an issuance of a Letter of Credit), the Borrower shall
notify the Administrative Agent of such request in writing (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing, (b) in the case of an ABR
Borrowing, not later than 12:00 noon, New York City time, one Business Day prior to the date of the proposed Borrowing or (c) in the case of a Borrowing of a Swing Line Loan, not later than 12:00 noon, New York City time, on the date of the
proposed Borrowing . Each such written Borrowing Request shall be irrevocable and shall be confirmed promptly by delivery to the Administrative Agent of a written Borrowing Request in substantially the form of Exhibit B-1 attached hereto and
signed by the Borrower. Each such written Borrowing Request shall specify the following information in compliance with Section 2.2 and Section 2.3: 

(i) the aggregate amount of the requested Borrowing; 

(ii) the date of such Borrowing, which shall be a Business Day; 

(iii) with respect to Revolving Loans, whether such Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; 

(iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be applicable thereto, which shall be a period
contemplated by the definition of the term “Interest Period”; and 
 (v) the location and number of the
account or accounts to which funds are to be disbursed, which shall comply with the requirements of Section 2.6. 
 If no
election as to the Type of Borrowing is specified with respect to Revolving Loans, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall
be deemed to have selected an Interest Period of one month’s duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount
of such Lender’s Loan to be made as part of the requested Borrowing. 
 Section 2.6 Funding of Borrowings. 

(a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof by wire transfer of immediately available funds
by 12:00 Noon, New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans available to the Borrower by promptly crediting the
amounts so received, in like funds, to an account or accounts designated by the Borrower in the applicable Borrowing Request. 

  
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 (b) Unless the Administrative Agent shall have received notice from a Lender prior to the
proposed date of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s Applicable Percentage of such Borrowing, the Administrative Agent may assume that such Lender has made such Applicable Percentage
available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact made its Applicable Percentage
of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each day from
and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate determined by
the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to ABR Loans. If such Lender pays such amount to the Administrative Agent, then such
amount shall constitute such Lender’s Loan included in such Borrowing. 
 Section 2.7 Interest Elections. 

(a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing,
shall have an initial Interest Period as specified in such Borrowing Request; provided that Swing Line Loans shall be made and maintained as ABR Borrowings only. Thereafter, the Borrower may elect to convert such Borrowing to a different Type
or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected Borrowing, in
which case each such portion shall be allocated among the Lenders holding the Loans comprising such Borrowing in accordance with their respective Applicable Percentages, and the Loans comprising each such portion shall be considered a separate
Borrowing. 
 (b) To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election in
writing by the time that a Borrowing Request would be required under Section 2.3 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election. Each such written
request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written request (an “Interest Election Request”) in substantially the form of Exhibit C attached
hereto and signed by the Borrower. 
 (c) Each written Interest Election Request shall specify the following information in compliance with
Section 2.2: 
 (i) the Borrowing to which such Interest Election Request applies and, if different options are
being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and (iv) below shall be specified for each
resulting Borrowing); 
 (ii) the effective date of the election made pursuant to such Interest Election Request, which shall
be a Business Day; 
 (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar Borrowing; and 

  
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 (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to
be applicable thereto after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be
deemed to have selected an Interest Period of one month’s duration. 
 (d) Promptly following receipt of an Interest Election Request,
the Administrative Agent shall advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing. 

(e) If the Borrower fails to deliver a timely Interest Election Request with respect to a Eurodollar Borrowing prior to the end of the
Interest Period applicable thereto, then, unless such Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be continued as a Eurodollar Borrowing with an Interest Period of one month’s duration.
Notwithstanding any contrary provision hereof, if an Event of Default has occurred and is continuing, (i) no outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless repaid, each Eurodollar Borrowing
shall be converted to an ABR Borrowing at the end of the Interest Period applicable thereto. 
 Section 2.8 Termination and
Reduction of Commitments. 
 (a) Unless previously terminated, the Commitments shall terminate on the Commitment Termination Date. 

(b) The Borrower may at any time terminate, or from time to time reduce, the Commitments; provided that (i) each reduction of the
Commitments shall be in an amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the Borrower shall not terminate or reduce the Commitments if, after giving effect to any concurrent prepayment of the Loans in
accordance with Section 2.10, the sum of the aggregate outstanding principal amount of Loans would exceed the total Commitments. 

(c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce the Commitments under paragraph (b) of this
Section at least three Business Days prior to the effective date of such termination or reduction, specifying such election and the effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall advise the Lenders
of the contents thereof. Each notice delivered by the Borrower pursuant to this Section shall be irrevocable; provided that a notice of termination of the Commitments delivered by the Borrower may state that such notice is conditioned upon
the effectiveness of other credit facilities or another transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. Any
termination or reduction of the Commitments shall be permanent. Each reduction of the Commitments shall be applied to the Lenders in accordance with their respective Applicable Percentages. 

Section 2.9 Repayment of Loans; Evidence of Debt. 

(a) The Borrower hereby unconditionally promises to pay to the Administrative Agent for the account of each Lender the then unpaid principal
amount of each Loan on the Maturity Date. 

  
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 (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

(c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount of each Loan made hereunder, the Type
thereof and the Interest Period applicable thereto, (ii) the amount of any principal or interest due and payable or to become due and payable from the Borrower to each Lender hereunder and (iii) the amount of any sum received by the
Administrative Agent hereunder for the account of the Lenders and each Lender’s share thereof. 
 (d) The entries made in the accounts
maintained pursuant to paragraph (b) or (c) of this Section shall be prima facie evidence of the existence and amounts of the obligations recorded therein (absent manifest error); provided that the failure of any
Lender or the Administrative Agent to maintain such accounts or any error therein shall not in any manner affect the obligation of the Borrower to repay the Loans in accordance with the terms of this Agreement. 

(e) Any Lender may request that Loans made by it be evidenced by a Note. In such event, the Borrower shall prepare, execute and deliver to
such Lender a Note payable to the order of such Lender (or, if requested by such Lender, to such Lender and its registered assigns). Thereafter, the Loans evidenced by such Note and interest thereon shall at all times (including after assignment
pursuant to Section 10.4) be represented by one or more Notes in such form payable to the order of the payee named therein (or, if such Note is a registered note, to such payee and its registered assigns). 

Section 2.10 Prepayment of Loans. 

(a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing in whole or in part, without premium or
penalty (subject to the requirements of Section 2.15), subject to prior notice in accordance with this Section. The Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy or delivery of written notice) or
telecopy of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of prepayment or (ii) in the case of prepayment of an ABR
Borrowing, not later than 11:00 a.m., New York City time, one Business Day before the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or portion thereof
to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by Section 2.8, then such notice of prepayment may be revoked if such
notice of termination is revoked in accordance with Section 2.8. Promptly following receipt of any such notice relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of
any Borrowing shall be in an amount that would be permitted in the case of an advance of a Borrowing of the same Type as provided in Section 2.2. 

(b) The Borrower shall from time to time prepay first, the Swing Line Loans, and second, the Revolving Loans to the extent
necessary so that the Total Utilization of Commitments shall not at any time exceed the Commitments then in effect. 
 (c) Each prepayment
of a Borrowing shall be applied ratably to the Loans of the Lenders in accordance with their respective Applicable Percentages. Prepayments shall be accompanied by accrued interest to the extent required by Section 2.12 and any costs
incurred as contemplated by Section 2.15. 

  
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 (d) Considering each Type of Loans being prepaid separately, any prepayment thereof shall be
applied first to ABR Loans to the full extent thereof before application to Eurodollar Rate Loans, in each case in a manner which minimizes the amount of any payments required to be made by the Borrower pursuant to Section 2.15. 

Section 2.11 Fees. 

(a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender (other than any Defaulting Lender) a commitment fee,
which shall accrue at the applicable Commitment Fee Rate on the daily amount of the unused Commitment of such Lender during the period from and including the date hereof to but excluding the Commitment Termination Date. Accrued commitment fees shall
be payable in arrears on the last day of March, June, September and December of each year and on the date on which the Commitments terminate, commencing on the first such date to occur after the date hereof; provided that any commitment fees
accruing after the date on which the Commitments terminate shall be payable on demand. The unused portion of the Commitments of any Lender, for purposes of this calculation, shall equal (i) the amount of Commitments of such Lender, minus
(ii) the outstanding Revolving Loans of such Lender and the aggregate amount of all participations by such Lender or any outstanding Letters of Credit or any unreimbursed drawings under any Letter of Credit. For the avoidance of doubt, the
outstanding amount of any Swingline Loans shall not be counted towards or considered usage of the Commitments for purposes of determining the commitment fee. All commitment fees shall be computed on the basis of a year of 360 days and shall be
payable for the actual number of days elapsed (including the first day but excluding the last day). 
 (b) On the Closing Date, the Borrower
agrees to pay to the Administrative Agent for the account of each Lender an upfront fee equal to 0.50% of the aggregate principal amount of the Commitments, payable to each Lender pro rata in accordance with the amount of such Lender’s
Commitment. 
 (c) The Borrower agrees to pay to the Administrative Agent for the account of each Lender (other than any Defaulting Lender)
letter of credit fees equal to (A) the Applicable Margin for Revolving Loans that are Eurodollar Loans, multiplied by (B) the average aggregate daily maximum amount available to be drawn under all such Letters of Credit (regardless of
whether any conditions for drawing could then be met and determined as of the close of business on any date of determination). Such letter of credit fees shall be payable in arrears on the last day of March, June, September and December of each
year, commencing on the first such date to occur after the date hereof, and shared proportionally by the Lenders in accordance with their Applicable Percentages. 

(d) The Borrower agrees to pay directly to Issuing Bank, for its own account, the following fees: 

(i) a fronting fee equal to 0.125%, per annum, multiplied by the average aggregate daily maximum amount available to be
drawn under all Letters of Credit (determined as of the close of business on any date of determination); and 
 (ii) such
documentary and processing charges for any issuance, amendment, transfer or payment of a Letter of Credit as are in accordance with Issuing Bank’s standard schedule for such charges and as in effect at the time of such issuance, amendment,
transfer or payment, as the case may be. 
 Such fronting fee shall be paid on a quarterly basis in arrears and is due and payable on the
second Business Day after the end of each March, June, September and December in respect of the 

  
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most recently ended quarterly period (or portion thereof, in the case of the first payment), commencing with the first such date to occur after the issuance of such Letter of Credit, on the
Letter of Credit expiration date and thereafter on demand. 
 (e) The Borrower agrees to pay to the Administrative Agent, for its own
account, fees payable in the amounts and at the times separately agreed upon between the Borrower and the Administrative Agent. 
 (f) All
fees payable hereunder shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, in the case of commitment fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

Section 2.12 Interest. 

(a) The Loans comprising each ABR Borrowing (including all Swing Line Loans) shall bear interest at the Alternate Base Rate plus the
Applicable Margin. 
 (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the Adjusted LIBO Rate for the Interest
Period in effect for such Borrowing plus the Applicable Margin. 
 (c) Notwithstanding the foregoing, (i) at all times when an
Event of Default listed in Section 8.1(a) has occurred hereunder and is continuing and (ii) at the request of the Required Lenders at any time that any other Event of Default has occurred and is continuing, all amounts outstanding
hereunder shall bear interest, after as well as before judgment, at a rate per annum equal to (i), in the case of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or
(ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in paragraph (a) of this Section. 

(d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date for such Loan and upon termination of the
Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to
the end of the Availability Period), accrued interest on the principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the
current Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of such conversion. 
 (e) All
interest hereunder shall be computed on the basis of a year of 360 days, except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year
of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be
determined by the Administrative Agent, and such determination shall be conclusive absent manifest error. 
 (f) The Borrower agrees to pay
to Issuing Bank, with respect to drawings honored under any Letter of Credit, interest on the amount paid by Issuing Bank in respect of each such honored drawing from the date such drawing is honored to but excluding the date such amount is
reimbursed by or on behalf of the Borrower at a rate equal to (i) for the period from the date such drawing is honored to but excluding the applicable Reimbursement Date, the rate of interest otherwise payable hereunder with respect to
Revolving Loans that are ABR Loans, and (ii) thereafter, a rate which is 2% per annum in excess of the rate of interest otherwise payable hereunder with respect to Revolving Loans that are ABR Loans. 

  
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 (g) Interest payable pursuant to Section 2.12(f) shall be computed on the basis of a
365/366 day year for the actual number of days elapsed in the period during which it accrues, and shall be payable on demand or, if no demand is made, on the date on which the related drawing under a Letter of Credit is reimbursed in full. Promptly
upon receipt by Issuing Bank of any payment of interest pursuant to Section 2.12(f), Issuing Bank shall distribute to the Administrative Agent, for the account of each Lender, out of the interest received by Issuing Bank in respect of
the period from the date such drawing is honored to but excluding the date on which Issuing Bank is reimbursed for the amount of such drawing (including any such reimbursement out of the proceeds of any Revolving Loans), the amount that such Lender
would have been entitled to receive in respect of the letter of credit fee that would have been payable in respect of such Letter of Credit for such period if no drawing had been honored under such Letter of Credit. In the event Issuing Bank shall
have been reimbursed by Lenders for all or any portion of such honored drawing, Issuing Bank shall distribute to the Administrative Agent, for the account of each Lender which has paid all amounts payable by it under Section 2.4(e) with
respect to such honored drawing such Lender’s Pro Rata Share of any interest received by Issuing Bank in respect of that portion of such honored drawing so reimbursed by Lenders for the period from the date on which Issuing Bank was so
reimbursed by Lenders to but excluding the date on which such portion of such honored drawing is reimbursed by the Borrower. 

Section 2.13 Alternate Rate of Interest. If prior to the commencement of any Interest Period for a Eurodollar Borrowing: 

(a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that adequate and reasonable means do
not exist for ascertaining the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period; or 
 (b) the Administrative
Agent is advised by the Required Lenders that the Adjusted LIBO Rate or the LIBO Rate, as applicable, for such Interest Period will not adequately and fairly reflect the cost to such Lenders (or Lender) of making or maintaining their Loans (or its
Loan) included in such Borrowing for such Interest Period; 
 then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer exist, (i) any Interest Election Request that
requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing.

 Section 2.14 Increased Costs; Illegality. 

(a) If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, liquidity, special deposit or similar requirement against assets of,
deposits with or for the account of, or credit extended by, any Lender (except any such reserve requirement reflected in the Adjusted LIBO Rate) or Issuing Bank; or 

  
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 (ii) impose on any Lender or Issuing Bank or the London interbank market any
other condition, cost or expense (other than Taxes) affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of Credit or participation therein; or 

(iii) impose on any Lender or Issuing Bank or the Administrative Agent any Taxes (other than Indemnified Taxes or Tax described
in clauses (b) through (d) of the definition of Excluded Taxes), on its loans, loan principal, letters of credit, commitments, or other obligations, or its deposits, reserves, other liabilities or capital attributable thereto; 

and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any Eurodollar Loan (or of maintaining its
obligation to make any such Loan) or to increase the cost to such Lender or Issuing Bank of participating in, issuing or maintaining any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of
principal, interest or otherwise), then the Borrower will pay to such Lender or Issuing Bank such additional amount or amounts as will compensate such Lender or Issuing Bank for such additional costs incurred or reduction suffered. 

(b) If any Lender or Issuing Bank determines that any Change in Law regarding capital or liquidity requirements has or would have the effect
of reducing the rate of return on such Lender’s or Issuing Bank’s capital or on the capital of such Lender’s or Issuing Bank’s holding company, if any, as a consequence of this Agreement, the Commitments hereunder, the Loans made
by such Lender or participations in Letters of Credit held by such Lender to a level below that which such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company could have achieved but for such Change in Law (taking
into consideration such Lender’s or Issuing Bank’s policies and the policies of such Lender’s or Issuing Bank’s holding company with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or
Issuing Bank, as the case may be, such additional amount or amounts as will compensate such Lender or Issuing Bank or such Lender’s or Issuing Bank’s holding company for any such reduction suffered. 

(c) A certificate of a Lender or Issuing Bank setting forth in reasonable detail the amount or amounts necessary to compensate such Lender or
Issuing Bank or its respective holding company, as the case may be, as specified in paragraph (a) or (b) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender
or Issuing Bank the amount shown as due on any such certificate within 10 days after receipt thereof. 
 (d) Failure or delay on the part of
any Lender or Issuing Bank to demand compensation pursuant to this Section shall not constitute a waiver of such Lender’s or Issuing Bank’s right to demand such compensation; provided that the Borrower shall not be required to
compensate a Lender or Issuing Bank pursuant to this Section for any increased costs or reductions incurred more than 180 days prior to the date that such Lender or Issuing Bank notifies the Borrower of the Change in Law giving rise to such
increased costs or reductions and of such Lender’s or Issuing Bank’s intention to claim compensation therefore; provided further that, if the Change in Law giving rise to such increased costs or reductions is retroactive (or
has retroactive effect), then the 180-day period referred to above shall be extended to include the period of retroactive effect thereof. 

(e) If any Lender determines that any Requirement of Law has made it unlawful, or that any Governmental Authority has asserted that it is
unlawful, for such Lender to make, maintain or fund Eurodollar Loans, or to determine or charge interest rates based upon the Eurodollar Rate, or any Governmental Authority has imposed material restrictions on the authority of such Lender to
purchase or sell, or to take deposits of, dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, (i) any obligation of such Lender to make or continue

  
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Eurodollar Loans or to convert ABR Loans to Eurodollar Loans shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such
determination no longer exist. Upon receipt of such notice, the Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all Eurodollar Loans of such Lender to ABR Loans, either on the
last day of the Interest Period therefor, if such Lender may lawfully continue to maintain such Eurodollar Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such Eurodollar Loans. Upon any such prepayment or
conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. 
 Section 2.15 Break Funding
Payments. In the event of (a) the payment or prepayment of any principal of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (whether voluntary, mandatory, automatic, by reason of acceleration, or
otherwise), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert, continue or prepay any Eurodollar Loan on the date specified in any notice
delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.10(b) and is revoked in accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of the Interest
Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.18, then, in any such event, the Borrower shall compensate each Lender for the loss, cost and expense attributable to such event. In the case of a
Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount determined by such Lender to be the excess, if any, of (i) the amount of interest which would have accrued on the principal amount of such Loan had
such event not occurred, at the Adjusted LIBO Rate that would have been applicable to such Loan, for the period from the date of such event to the last day of the then current Interest Period therefor (or, in the case of a failure to borrow, convert
or continue, for the period that would have been the Interest Period for such Loan), over (ii) the amount of interest which would accrue on such principal amount for such period at the interest rate which such Lender would bid were it to bid,
at the commencement of such period, for dollar deposits of a comparable amount and period from other banks in the eurodollar market. A certificate of any Lender setting forth in reasonable detail any amount or amounts that such Lender is entitled to
receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof. 

Section 2.16 Taxes. 

(a) Any and all payments by or on account of any obligation of the Borrower hereunder shall be made free and clear of and without deduction or
withholding for any Indemnified Taxes or Other Taxes, except as required by law. If any applicable law (as determined in the good faith discretion of an applicable Withholding Agent) requires the deduction or withholding of any Tax from any such
payment by a Withholding Agent, then the applicable Withholding Agent shall make such deduction or withholding and timely pay the full amount deducted or withheld to the relevant Governmental Authority in accordance with applicable law and, if such
Tax is an Indemnified Tax or Other Tax, then the sum payable by the Borrower shall be increased as necessary so that after making such deduction or withholding (including such deductions and withholdings applicable to additional sums payable under
this Section) the Administrative Agent or Lender (as the case may be) receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

(b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c) The Borrower shall indemnify the Administrative Agent and each Lender, within 10 days after demand therefore, for the full amount of any
Indemnified Taxes or Other Taxes paid by the 

  
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Administrative Agent or such Lender, as the case may be, on or with respect to any payment by or on account of any obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes
imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate as to the amount of such payment or liability delivered to the Borrower by a Lender, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall
be conclusive absent manifest error. 
 (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the Borrower to
a Governmental Authority, the Borrower shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing such payment, a copy of the return reporting such payment or other
evidence of such payment reasonably satisfactory to the Administrative Agent. 
 (e) Any Foreign Lender, if it is legally entitled to do so,
shall deliver to the Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter
upon the reasonable request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: 

(i) executed originals of Internal Revenue Service Form W-8BEN claiming eligibility for benefits of an income tax treaty to
which the United States of America is a party; 
 (ii) executed originals of Internal Revenue Service Form W-8ECI; 

(iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the
Code, (x) a certificate to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the meaning of
section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) executed originals of Internal Revenue Service Form W-8BEN; 

(iv) to the extent a Foreign Lender is not the beneficial owner, executed originals of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN, a portfolio interest certificate in compliance with Section 2.16(e)(iii), IRS Form W-9, and/or other certification documents from each beneficial owner, as applicable; provided that if the Foreign Lender is a
partnership and one or more partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a certificate in compliance with Section 2.16(e)(iii) on behalf of such partner or partners; or

 (v) any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United States
Federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit the Borrower to determine the withholding or deduction required to be made unless, in the Foreign Lender’s
sole determination exercised in good faith, such completion would subject such Foreign Lender to any material cost or expense or would materially prejudice the legal or commercial position of such Foreign Lender. 

In addition, any Lender that is a U.S. Person shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such
Lender becomes a Lender under this 

  
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Agreement (and from time to time thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed originals of IRS Form W-9 certifying that such Lender is exempt from
U.S. federal backup withholding tax. 
 (f) If a payment made to a Lender under any Loan Document would be subject to U.S. Federal
withholding Tax imposed by FATCA if such Lender fails to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower
and the Administrative Agent at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by
Section 1471(b)(3)(C)(i) of the Code) and such other documentation reasonably requested by the Borrower and the Administrative Agent sufficient for the Administrative Agent and the Borrower to comply with their obligations under FATCA and to
determine that such Lender has complied with such applicable reporting requirements or to determine the amount to deduct and withhold from such payment. 

(g) If any Lender or the Administrative Agent determines, in its sole discretion exercised in good faith, that it has received a refund of any
Taxes as to which it has been indemnified pursuant to this Section (including by the payment of additional amounts pursuant to this Section), it shall pay to the applicable Loan Party an amount equal to such refund (but only to the extent of
indemnity payments made under this Section with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses (including Taxes) of such indemnified party and without interest (other than any interest paid by the relevant
Governmental Authority with respect to such refund); provided, however, that (w) any Lender or the Administrative Agent may determine, in its sole discretion exercised in good faith consistent with the policies of such Lender or the
Administrative Agent, whether to seek a refund for any Taxes; (x) any Taxes that are imposed on a Lender or the Administrative Agent as a result of a disallowance or reduction of any Tax refund with respect to which such Lender or the
Administrative Agent has made a payment to the Loan Party pursuant to this Section shall be treated as an Indemnified Tax for which the Loan Party is obligated to indemnify such Lender or the Administrative Agent pursuant to this Section without any
exclusions or defenses; (y) nothing in this Section shall require the Lender or the Administrative Agent to disclose any confidential information to a Loan Party (including, without limitation, its tax returns);and (z) neither any Lender
nor the Administrative Agent shall be required to pay any amounts pursuant to this Section for so long as a Default or Event of Default exists. 

(h) For purposes of this Section 2.16, the term “Lender” includes any Issuing Bank. 

Section 2.17 Payments Generally; Pro Rata Treatment; Sharing of Set-offs. 

(a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable
under Section 2.14, Section 2.15 or Section 2.16, or otherwise) prior to 12:00 noon, New York City time, on the date when due, in immediately available funds, without set off or counterclaim. Any amounts received
after such time on any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative
Agent at 1 Pierrepont Plaza, 7th Floor, Brooklyn, New York, 11201 and except that payments pursuant to Section 2.14, Section 2.15 Section 2.16 and Section 10.3 shall be made directly to the Persons entitled
thereto. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment or performance hereunder shall be due on a day
that is not a Business Day, the date for payment or performance shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder shall be made in dollars. 

  
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 (b) If at any time insufficient funds are received by and available to the Administrative Agent
to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto in accordance with the
amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to such parties. 

(c) If any Lender shall, by exercising any right of set off or counterclaim or otherwise, obtain payment in respect of any principal of or
interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the proportion received by any other Lender, then the Lender receiving such
greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount
of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations shall be rescinded and
the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment made by the Borrower pursuant to and in accordance with the express terms of
this Agreement (including the application of funds arising from the existence of a Defaulting Lender) or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or
participant, other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable
law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the
Borrower in the amount of such participation. 
 (d) Unless the Administrative Agent shall have received notice from the Borrower prior to
the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent
forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

(e) If any Lender shall fail to make any payment required to be made by it pursuant to Section 2.3, Section 2.4(e),
Section 2.6(b) or paragraph (d) of this Section, then the Administrative Agent may, in its discretion (notwithstanding any contrary provision hereof), apply any amounts thereafter received by the Administrative Agent for the account
of such Lender to satisfy such Lender’s obligations under such Sections until all such unsatisfied obligations are fully paid. 

Section 2.18 Mitigation Obligations; Replacement of Lenders. 

(a) If any Lender (which term shall include Issuing Bank for purposes of this Section 2.18(a)) requests compensation under
Section 2.14, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.16, then such Lender shall use reasonable efforts to
designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another of its offices, 

  
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branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.14 or
Section 2.16, as the case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable
costs and expenses incurred by any Lender in connection with any such designation or assignment. 
 (b) If (i) any Lender (which term
shall include Issuing Bank for purposes of this Section 2.18(b)) requests compensation under Section 2.14, (ii) the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the
account of any Lender pursuant to Section 2.16, (iii) any Lender is a Defaulting Lender or a Non-Consenting Lender or (iv) any Lender is a Declining Lender under Section 2.20, then the Borrower may, at its sole
expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in Section 10.4), all its interests,
rights and obligations under this Agreement and the other Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts such assignment); provided that (i) the Borrower shall
have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an amount equal to the outstanding principal of its Loans, accrued interest
thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts),
(iii) in the case of any such assignment resulting from a claim for compensation under Section 2.14 or payments required to be made pursuant to Section 2.16, such assignment will result in a reduction in such
compensation or payments, (iv) such assignment does not conflict with applicable law and (v) in the case of any assignment resulting from a Lender becoming a Non-Consenting Lender, (x) the applicable assignee shall have consented to,
or shall consent to, the applicable amendment, waiver or consent and (y) the Borrower exercises its rights pursuant to this clause (b) with respect to all Non-Consenting Lenders relating to the applicable amendment, waiver or consent. A
Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. 

Section 2.19 Incremental Commitments. 

(a) Borrower may by written notice to Administrative Agent elect to request (A) at any time prior to the Commitment Termination Date, an
increase to the existing Commitments (each, a “Commitment Increase”) and/or (B) the establishment of one or more new term loan commitments (the “New Term Loan Commitments” and, together with each Commitment
Increase, the “Incremental Commitments”) up to an aggregate amount not to exceed $25,000,000, in increments not less than $10,000,000 individually, and integral multiples of $5,000,000 in excess of that amount. Each such notice
shall specify (A) the date (each, an “Increase Date”) on which Borrower proposes that the Commitment Increase or New Term Loan Commitments, as applicable, shall be effective, which shall be a date not less than 10 Business Days
after the date on which such notice is delivered to Administrative Agent and (B) the identity of each Lender or other Person (other than the Borrower or an Affiliate thereof or any natural person) reasonably acceptable to the Administrative
Agent, Issuing Bank and Swing Line Lender (each, an “Incremental Revolving Lender “ or “Incremental Term Lender”, as applicable, and collectively, the “ Incremental Lenders”) to whom Borrower
proposes any portion of such Commitment Increase or New Term Loan Commitments, as applicable, be allocated and the amounts of such allocations; provided that Administrative Agent shall have no obligation to arrange such Commitment Increase or
New Term Loan Commitments unless otherwise agreed in writing and any Lender approached to provide all or a portion of the Commitment Increase or New Term Loan Commitments may elect or decline, in its sole discretion, to provide a Commitment Increase
or a New Term Loan Commitment. 

  
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Such Commitment Increase or New Term Loan Commitments shall become effective, as of such Increase Date; provided that (1) no Default or Event of Default shall exist on such Increase
Date before or after giving effect to such Incremental Commitments; (2) after giving effect to the incurrence of such Incremental Commitments and the application of proceeds therefrom, and assuming a full drawing of such New Term Loan
Commitments or Commitment Increase as applicable, but without “netting” the cash proceeds thereof, the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal quarter most recently ended for
which financial statements are required to be delivered pursuant to Section 5.1, shall not exceed the maximum Consolidated Total Leverage Ratio permitted under Section 6.12 for such period, (3) both before and after
giving effect to the incurrence of such Incremental Commitments and the application of proceeds therefrom, each of the conditions set forth in Section 4.2 shall be satisfied (except as otherwise agreed by the Administrative Agent and
each applicable Incremental Lender); (4) the Commitment Increase or New Term Loan Commitments, as applicable, shall be effected pursuant to one or more joinder agreements in form and substance reasonably satisfactory to the Borrower and the
Administrative Agent executed and delivered by Borrower, the applicable Incremental Lender, and Administrative Agent; (5) Borrower shall make any payments required pursuant to Section 2.15 in connection with such Incremental
Commitments; and (6) Borrower shall deliver or cause to be delivered any legal opinions or other documents reasonably requested by Administrative Agent in connection with any such transaction. 

(b) On any Increase Date on which a Commitment Increase is effected, subject to the satisfaction of the foregoing terms and conditions,
(a) each Lender with a Commitment shall assign to each of the Incremental Revolving Lenders, and each of the Incremental Revolving Lenders shall purchase from each of the Lenders, at the principal amount thereof (together with accrued
interest), such interests in the Revolving Loans outstanding on such Increase Date as shall be necessary in order that, after giving effect to all such assignments and purchases, such Revolving Loans will be held by existing Lenders and Incremental
Lenders ratably in accordance with their Commitments after giving effect to such Commitment Increase, (b) each Commitment Increase shall be deemed for all purposes a Commitment and each Loan made thereunder shall be deemed, for all purposes, a
Revolving Loan and (c) each Incremental Revolving Lender shall become a Lender with respect to its Commitment Increase and all matters relating thereto. 

(c) On any Increase Amount Date on which any New Term Loan Commitments are effective, subject to the satisfaction of the foregoing terms and
conditions, (i) each Incremental Term Lender shall make a Loan to Borrower (a “Term Loan”) in an amount equal to its New Term Loan Commitment, and (ii) each New Term Lender shall become a Lender hereunder with respect to
the New Term Loan Commitments and the Term Loans made pursuant thereto. 
 (d) Administrative Agent shall notify Lenders promptly upon
receipt of Borrower’s notice of each Increase Date and in respect thereof (y) the Commitment Increase and the Incremental Revolving Lenders or the New Term Loan Commitments and the Incremental Term Lenders, as applicable, and (z) in
the case of each notice to any Lender, the respective interests in such Lender’s Revolving Loans, in each case subject to the assignments contemplated by this Section. 

(e) The terms and provisions of Loans made pursuant to the Incremental Commitments shall be as follows: 

(i) The terms and provisions of any Commitment Increase and any loans made thereunder shall be identical to the terms of the
Revolving Loans and Commitments; 
 (ii) The terms and provisions of the Term Loans and New Term Loan Commitments (a) shall
not be secured by any assets other than the Collateral, (b) shall not be guaranteed by Persons other than the Guarantors, and (c) shall be otherwise be on terms reasonably satisfactory to Administrative Agent; 

  
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 (iii) any Incremental Commitments shall rank pari passu or junior in right
of payment in respect of the Collateral and with the Obligations in respect of the existing Commitments; provided, that any Incremental Commitment that ranks junior in right of payment in respect of the Collateral or with the Obligations
shall be subject to customary intercreditor arrangements reasonably acceptable to the Administrative Agent; 
 (iv) the Term
Loans shall not have scheduled principal repayments in excess of 2.5% of the original principal amount of such Term Loans per calendar year; and 

(v) the maturity date applicable to any Term Loans shall be no earlier than the Maturity Date. 

(f) Notwithstanding anything to the contrary in Section 10.2, each joinder agreement contemplated hereby may, without the consent
of any other Lenders or the Required Lenders, effect such amendments to this Agreement and the other Loan Documents as may be necessary or appropriate, in the opinion of Administrative Agent and the Borrower to effect the provision of this
Section 2.19. 
 Section 2.20 Extension of Maturity Date. 

(a) The Borrower may, by delivery of a Maturity Date Extension Request to the Administrative Agent (which shall promptly deliver a copy
thereof to each of the Lenders) not less than 30 days prior to the then existing maturity date for Commitments hereunder (the “Existing Maturity Date”), request that the Lenders extend the Existing Maturity Date in accordance with
this Section; provided that the Borrower may not make more than two Maturity Date Extension Requests during the term of this Agreement. Each Maturity Date Extension Request shall (i) specify the date to which the Maturity Date is sought
to be extended; provided that such date is no more than one calendar year from the then scheduled Maturity Date, (ii) specify the changes, if any, to the Applicable Margin to be applied in determining the interest payable on Loans of,
and fees payable hereunder to, Consenting Lenders (as defined below) in respect of that portion of their Commitments (and related Loans) extended to such new Maturity Date and the time as of which such changes will become effective (which may be
prior to the Existing Maturity Date), and (iii) specify any other amendments or modifications to this Agreement to be effected in connection with such Maturity Date Extension Request, provided that no such changes or modifications
requiring approvals pursuant to Section 10.2(b) shall become effective prior to the then existing Maturity Date unless such other approvals have been obtained. In the event a Maturity Date Extension Request shall have been delivered by
the Borrower, each Lender shall have the right to agree or not agree to the extension of the Existing Maturity Date and other matters contemplated thereby on the terms and subject to the conditions set forth therein (each Lender agreeing to the
Maturity Date Extension Request being referred to herein as a “Consenting Lender” and each Lender not agreeing thereto being referred to herein as a “ Declining Lender”), which right may be exercised by written
notice thereof, specifying the maximum amount of the Commitment of such Lender with respect to which such Lender agrees to the extension of the Maturity Date, delivered to the Borrower (with a copy to the Administrative Agent) not later than a day
to be agreed upon by the Borrower and the Administrative Agent following the date on which the Maturity Date Extension Request shall have been delivered by the Borrower (it being understood that any Lender that shall have failed to exercise such
right as set forth above shall be deemed to be a Declining Lender). If a Lender elects to extend only a portion of its then existing Commitment, it will be deemed for purposes hereof to be a Consenting Lender in respect of such extended portion and
a Declining Lender in respect of the remaining portion of its Commitment. If Consenting Lenders shall have agreed to such Maturity Date Extension Request in respect of 

  
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Commitments held by them, then, subject to paragraph (d) of this Section, on the date specified in the Maturity Date Extension Request as the effective date thereof (the “Extension
Effective Date”), (i) the Existing Maturity Date of the applicable Commitments shall, as to the Consenting Lenders, be extended to such date as shall be specified therein, (ii) the terms and conditions of the Commitments of the
Consenting Lenders (including interest and fees payable in respect thereof), shall be modified as set forth in the Maturity Date Extension Request and (iii) such other modifications and amendments hereto specified in the Maturity Date Extension
Request shall (subject to any required approvals (including those of the Required Lenders having been obtained), except that any such other modifications and amendments that do not take effect until the Existing Maturity Date shall not require the
consent of any Lender other than the Required Lenders and the Consenting Lenders) become effective. 
 (b) Notwithstanding the foregoing,
the Borrower shall have the right, in accordance with the provisions of Sections 2.18 and 9.4, at any time prior to the Existing Maturity Date, to replace a Declining Lender (for the avoidance of doubt, only in respect of that portion
of such Lender’s Commitments subject to a Maturity Date Extension Request that it has not agreed to extend) with a Lender or other financial institution that will agree to such Maturity Date Extension Request, and any such replacement Lender
shall for all purposes constitute a Consenting Lender in respect of the Commitment assigned to and assumed by it on and after the effective time of such replacement. 

(c) If a Maturity Date Extension Request has become effective hereunder, on the Existing Maturity Date, the Commitment of each Declining
Lender shall, to the extent not assumed, assigned or transferred as provided in paragraph (b) of this Section, terminate, and the Borrower shall repay all the Loans of each Declining Lender, to the extent such Loans shall not have been so
purchased, assigned and transferred, in each case together with accrued and unpaid interest and all fees and other amounts owing to such Declining Lender hereunder (accordingly, the Commitment of any Consenting Lender shall, to the extent the amount
of such Commitment exceeds the amount set forth in the notice delivered by such Lender pursuant to paragraph (a) of this Section and to the extent not assumed, assigned or transferred as provided in paragraph (b) of this Section, be
permanently reduced by the amount of such excess, and, to the extent not assumed, assigned or transferred as provided in paragraph (b) of this Section, the Borrower shall prepay the proportionate part of the outstanding Loans of such Consenting
Lender, in each case together with accrued and unpaid interest thereon to but excluding the Existing Maturity Date and all fees and other amounts payable in respect thereof on or prior to the Existing Maturity Date), it being understood that such
repayments may be funded with the proceeds of new Borrowings made simultaneously with such repayments by the Consenting Lenders, which such Borrowings shall be made ratably by the Consenting Lenders in accordance with their extended Commitments.

 (d) Notwithstanding the foregoing, no Maturity Date Extension Request shall become effective hereunder unless, on the Extension Effective
Date, the conditions set forth in Section 4.2 shall be satisfied (with all references in such Section to a Borrowing being deemed to be references to such Maturity Date Extension Request) and the Administrative Agent shall have received
a certificate to that effect dated such date and executed by a Financial Officer. 
 (e) Notwithstanding any provision of this Agreement to
the contrary, it is hereby agreed that no extension of an Existing Maturity Date in accordance with the express terms of this Section, or any amendment or modification of the terms and conditions of the Commitments and Loans of the Consenting
Lenders effected pursuant thereto, shall be deemed to (i) violate the last sentence of Section 2.8(c) or Section 2.17(c) or any other provision of this Agreement requiring the ratable reduction of Commitments or the
ratable sharing of payments or (ii) require the consent of all Lenders or all affected Lenders under Section 10.2(b). 

  
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 (f) The Borrower, the Administrative Agent, the Required Lenders and the Consenting Lenders may
enter into an amendment to this Agreement to effect such modifications as may be necessary to reflect the terms of any Maturity Date Extension Request that has become effective in accordance with the provisions of this Section. 

Section 2.21 Defaulting Lenders. 

(a) Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a Defaulting Lender, then, until such time as
such Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 
 (i) such Defaulting Lender’s
right to approve or disapprove any amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in the definition of Required Lenders and in Section 10.2; 

(ii) if any Swing Line Exposure or Letter of Credit Usage exists at the time such Lender becomes a Defaulting Lender then: 

(A) all or any part of the Swing Line Exposure and Letter of Credit Usage of such Defaulting Lender shall be reallocated among
the non-Defaulting Lenders in accordance with their respective Applicable Percentages but only to the extent that (x) the sum of the Total Utilization of Commitments of all non-Defaulting Lenders plus such Defaulting Lender’s Swing Line
Exposure and Letter of Credit Usage does not exceed the total of all non-Defaulting Lenders’ Commitments, (y) the sum of any non-Defaulting Lender’s Total Utilization of Commitments plus its Pro Rata Share of such Defaulting
Lender’s Swing Line Exposure and Letter of Credit Usage does not exceed such non-Defaulting Lender’s Revolving Commitment and (z) the conditions set forth in Section 4.2 are satisfied at such time; 

(B) if the reallocation described in clause (i) above cannot, or can only partially, be effected, the Borrower shall
within one Business Day following notice by the Administrative Agent (x) first, prepay such Swing Line Exposure and (y) second, cash collateralize for the benefit of Issuing Bank only the Borrower’s obligations corresponding to such
Defaulting Lender’s Letter of Credit Usage (after giving effect to any partial reallocation pursuant to clause (Ai) above) in accordance with the procedures set forth in Section 2.4(i) for so long as such Letter of Credit Usage is
outstanding; 
 (C) if the Borrower cash collateralizes any portion of such Defaulting Lender’s Letter of Credit Usage
pursuant to clause (B) above, the Borrower shall not be required to pay any fees to such Defaulting Lender pursuant to Section 2.11(c) with respect to such Defaulting Lender’s Letter of Credit Usage during the period such Defaulting
Lender’s Letter of Credit Usage is cash collateralized; 
 (D) if the Letter of Credit Usage of the non-Defaulting
Lenders is reallocated pursuant to clause (A) above, then the fees payable to the Lenders pursuant to Section 2.11(a) and Section 2.11(c) shall be adjusted in accordance with such non-Defaulting Lenders’ Applicable
Percentages; and 
 (E) if all or any portion of such Defaulting Lender’s Letter of Credit Usage is neither reallocated
nor cash collateralized pursuant to clause (A) or (B) above, then, without prejudice to any rights or remedies of Issuing Bank or any other Lender hereunder, all letter of credit fees payable under Section 2.11(c) with respect
to such Defaulting Lender’s Letter of Credit Usage shall be payable to Issuing Bank until and to the extent that such Letter of Credit Usage is reallocated and/or cash collateralized; 

  
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 (iii) so long as such Lender is a Defaulting Lender, the Swing Line Lender shall
not be required to fund any Swing Line Loan and the Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless it is satisfied that the related exposure and the Defaulting Lender’s then outstanding Letter of
Credit Usage will be 100% covered by the Commitments of the non-Defaulting Lenders and/or cash collateral will be provided by Borrower in accordance with Section 2.21(a)(ii), and participating interests in any newly made Swing Line Loan
or any newly issued or increased Letter of Credit shall be allocated among non-Defaulting Lenders in a manner consistent with Section 2.21(a)(ii)(A) (and such Defaulting Lender shall not participate therein); 

(iv) any payment of principal, interest, fees or other amounts received by the Administrative Agent for the account of such
Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Section 8.1 or otherwise) or received by the Administrative Agent from a Defaulting Lender pursuant to Section 10.8 shall be applied at such time or
times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by such Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a pro rata basis of any amounts
owing by such Defaulting Lender to any Issuing Bank or Swingline Lender hereunder; third, to cash collateralize Issuing Banks’ Letter of Credit Usage with respect to such Defaulting Lender in accordance with Section 2.4(i);
fourth, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which such Defaulting Lender has failed to fund its portion thereof as required by this Agreement, as determined
by the Administrative Agent; fifth, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released pro rata in order to (x) satisfy such Defaulting Lender’s potential
future funding obligations with respect to Loans under this Agreement and (y) cash collateralize Issuing Banks’ future Letter of Credit Usage with respect to such Defaulting Lender with respect to future Letters of Credit issued under this
Agreement, in accordance with Section 2.4(i); sixth, to the payment of any amounts owing to the Lenders, Issuing Bank or Swing Line Lender as a result of any judgment of a court of competent jurisdiction obtained by any Lender,
Issuing Bank or Swing Line Lender against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; seventh, so long as no Default or Event of Default exists, to the payment of any
amounts owing to the Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against such Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under this Agreement; and
eighth, to such Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans or Letters of Credit disbursements in respect of which
such Defaulting Lender has not fully funded its appropriate share, and (y) such Loans or Letters of Credit were made when the conditions set forth in Section 4.2 were satisfied or waived, such payment shall be applied solely to pay
the Loans of or Letters of Credit disbursements owed to all Non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any Loans of such Defaulting Lender until such time as all Loans and funded and unfunded participations
in Letters of Credit and Swing Line Loans are held by the Lenders pro rata in accordance with the Commitments (without giving effect to Section 2.21(a)(ii)(A)). Any payments, prepayments or other amounts paid or payable to a Defaulting
Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or to post cash collateral pursuant to this Section shall be deemed paid to and redirected by such Defaulting Lender, and each Lender irrevocably consents hereto; and 

  
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 (v) No Defaulting Lender shall be entitled to receive any commitment fee pursuant
to Section 2.11 for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been paid to that Defaulting Lender). 

(l) If (i) any Lender becomes a Defaulting Lender or (ii) the Swing Line Lender or Issuing Bank has a good faith belief that any
Lender will become a Defaulting Lender, the Swing Line Lender shall not be required to fund any Swing Line Loan and Issuing Bank shall not be required to issue, amend or increase any Letter of Credit, unless the Swing Line Lender or the Issuing
Bank, as the case may be, shall have entered into arrangements with the Borrower or such Lender, reasonably satisfactory to the Swing Line Lender or the Issuing Bank, as the case may be, to defease any risk to it in respect of such Lender hereunder.

 (m) If the Borrower, Swing Line Lender, Issuing Bank and the Administrative Agent each agree in writing that a Lender is no longer a
Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth therein, that Lender will, to the extent applicable, purchase at par
that portion of outstanding Loans of the other Lenders (other than Swing Line Loans) or take such other actions as the Administrative Agent may determine to be necessary to cause the Loans to be held on a pro rata basis by the Lenders in accordance
with their respective Applicable Percentages, whereupon such Lender will cease to be a Defaulting Lender; provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower
while that Lender was a Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Lender will constitute a waiver or release of
any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. 
 ARTICLE III 

REPRESENTATIONS AND WARRANTIES 

Each Loan Party represents and warrants to the Lenders that: 

Section 3.1 Organization. Each of the Borrower and its Restricted Subsidiaries (a) is duly organized, validly existing and in
good standing under the laws of the jurisdiction of its organization, (b) has the power and authority, and the legal right, to own and operate its property, to lease the property it operates as lessee and to conduct the business in which it is
currently engaged, (c) is duly qualified as a foreign corporation or other organization and in good standing under the laws of each jurisdiction where the failure to be so qualified could reasonably be expected to have a Material Adverse
Effect. 
 Section 3.2 Powers; Authorization; Enforceability; Government Approvals. Each Loan Party has the power and authority,
and the legal right, to make, deliver and perform the Loan Documents to which it is a party and, in the case of the Borrower, to obtain extensions of credit hereunder. Each Loan Party has taken all necessary organizational action to authorize the
execution, delivery and performance of the Loan Documents to which it is a party and, in the case of the Borrower, to authorize the extensions of credit on the terms and conditions of this Agreement. No Governmental Approval or consent or
authorization of, filing with, notice to or other act by or in respect of, any other Person is required in connection with the extensions of credit hereunder or with the execution, delivery, performance, validity or enforceability of this Agreement
or any of the Loan Documents, except (i) Governmental Approvals, consents, authorizations, filings and notices described in Schedule 3.2, which Governmental Approvals, consents, authorizations, filings and notices have been obtained or
made and are in full force and effect, and (ii) the filings referred to in Section 3.18. Each Loan Document has been 

  
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duly executed and delivered on behalf of each Loan Party party thereto. This Agreement constitutes, and each other Loan Document upon execution will constitute, a legal, valid and binding
obligation of each Loan Party party thereto, enforceable against each such Loan Party in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting
the enforcement of creditors’ rights generally and by general equitable principles (whether enforcement is sought by proceedings in equity or at law). 

Section 3.3 No Conflicts. The execution, delivery and performance of this Agreement and the other Loan Documents, the issuance of
Letters of Credit, the borrowings hereunder and the use of the proceeds thereof will not violate any material Requirement of Law (except as set forth in Schedule 3.3 but including any Operating Document of any Loan Party) or any material Contractual
Obligation of any Loan Party and will not result in, or require, the creation or imposition of any Lien on any of their respective properties or revenues pursuant to any material Requirement of Law or any such material Contractual Obligation (other
than the Liens created by the Collateral Documents). No Requirement of Law or Contractual Obligation applicable to the Borrower or any of its Subsidiaries could reasonably be expected to have a Material Adverse Effect. The absence of obtaining the
Governmental Approvals described in Schedule 3.3 and the violations of Requirements of Law referenced in Schedule 3.3 shall not have an adverse effect on any rights of the Lenders or any Agent pursuant to the Loan Documents. 

Section 3.4 Financial Condition. 

(a) The audited consolidated balance sheets of the Borrower and its Subsidiaries as of December 31, 2011, December 31, 2012 and
December 31, 2013, and the related consolidated statements of income and of cash flows for the fiscal years ended on such dates, reported on by and accompanied by an unqualified report from PricewaterhouseCoopers, present fairly in all material
respects the consolidated financial condition of the Borrower and its Subsidiaries as at such date, and the consolidated results of its operations and its consolidated cash flows for the respective fiscal years then ended. All such financial
statements, including the related schedules and notes thereto, have been prepared in accordance with GAAP applied consistently throughout the periods involved (except as approved by the aforementioned firm of accountants and disclosed therein). No
Loan Party has, as of the Closing Date, any material Guarantee obligations, material contingent liabilities and liabilities for taxes, or any long-term leases or unusual forward or long-term commitments, including any interest rate or foreign
currency swap or exchange transaction or other obligation in respect of derivatives, that are not reflected in the most recent financial statements referred to in this paragraph or have been incurred after the date of such financial statements in
the ordinary course of such Loan Party’s business that in the case of material contingent liabilities, have not been disclosed to the Administrative Agent. During the period from December 31, 2013 to and including the date hereof, there
has been no disposition by any Loan Party of any material part of its business or property. 
 (b) Since December 31, 2013, there has
been no development or event that has had or could reasonably be expected to have a Material Adverse Effect. 
 Section 3.5
Properties. Each Loan Party has title in fee simple to, or a valid leasehold interest in, all of its real property, and good title to, or a valid leasehold interest in, all of its other property, and none of such property is subject to any
Lien except as permitted by Section 6.2. No Loan Party owns any Investment except as permitted by Section 6.7. As of the Closing Date, no Loan Party owns any Material Real Estate Assets. 

  
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 Section 3.6 Litigation and Environmental Matters. 

(a) No litigation, investigation or proceeding of or before any arbitrator or Governmental Authority is pending or, to the knowledge of the
Borrower, threatened by or against any Loan Party or against any of their respective properties or revenues (a) with respect to any of the Loan Documents or any of the transactions contemplated hereby or thereby, or (b) that could
reasonably be expected to have a Material Adverse Effect. 
 (b) Except as, in the aggregate, could not reasonably be expected to have a
Material Adverse Effect: 
 (i) Except as disclosed on Schedule 3.6, to the knowledge of the Loan Parties, the
facilities and properties owned, leased or operated by any Loan Party (the “Properties”) do not contain, and have not previously contained, any Materials of Environmental Concern in amounts or concentrations or under circumstances
that constitute or have constituted a violation of, or could give rise to liability under, any Environmental Law; 
 (ii) no
Loan Party has received or is aware of any notice of violation, alleged violation, non-compliance, liability or potential liability regarding environmental matters or compliance with Environmental Laws with regard to any of the Properties or the
business operated by any Loan Party (the “Business”), nor does the Borrower have knowledge or reason to believe that any such notice will be received or is being threatened; 

(iii) no Loan Party has transported or disposed of Materials of Environmental Concern from the Properties in violation of, or
in a manner or to a location that could give rise to liability under, any Environmental Law, nor has any Loan Party generated, treated, stored or disposed of Materials of Environmental Concern at, on or under any of the Properties in violation of,
or in a manner that could give rise to liability under, any applicable Environmental Law; 
 (iv) no judicial proceeding or
governmental or administrative action is pending or, to the knowledge of the Borrower, threatened, under any Environmental Law to which any Loan Party is or will be named as a party with respect to the Properties or the Business, nor are there any
consent decrees or other decrees, consent orders, administrative orders or other orders, or other administrative or judicial requirements outstanding under any Environmental Law with respect to the Properties or the Business; 

(v) there has been no release or threat of release of Materials of Environmental Concern at or from the Properties arising from
or related to the operations of any Loan Party or otherwise in connection with the Business, in violation of or in amounts or in a manner that could reasonably be expected to give rise to liability under Environmental Laws; 

(vi) the Properties and all operations of the Loan Parties at the Properties are in compliance, and have in the last five years
been in compliance, with all applicable Environmental Laws, and except as disclosed on Schedule 3.6, to the knowledge of the Borrower, there is no contamination at, under or about the Properties or violation of any Environmental Law with
respect to the Properties or the Business; and 
 (vii) no Loan Party has assumed any liability of any other Person under
Environmental Laws. 
 Section 3.7 Compliance with Laws. Each Loan Party is in material compliance with all Requirements of Law
except in such instances in which (i) such Requirement of Law is being contested in good faith by appropriate proceedings diligently conducted and the prosecution of such contest would not 

  
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reasonably be expected to result in a Material Adverse Effect, or (ii) the failure to comply therewith, either individually or in the aggregate, would not reasonably be expected to have a
Material Adverse Effect. 
 Section 3.8 Investment Company Status. No Loan Party is an “investment company,” or a
company “controlled” by an “investment company”, within the meaning of the Investment Company Act of 1940, as amended. Except as set forth in Schedule 3.3, no such Loan Party is subject to regulation under any Requirement
of Law (other than Regulation X of the Board), including the Federal Power Act, that may limit its ability to incur Indebtedness or that may otherwise render all or any portion of the Obligations unenforceable. 

Section 3.9 Taxes. Each Loan Party has filed or caused to be filed all Federal, all income and all other material state and other
tax returns that are required to be filed and has paid all material taxes shown to be due and payable on said returns or on any assessments made against it or any of its property and all other material taxes, fees or other charges imposed on it or
any of its property by any Governmental Authority (other than any the amount or validity of which are currently being contested in good faith by appropriate proceedings and with respect to which reserves in conformity with, and to the extent
required by, GAAP have been provided on the books of the relevant Loan Party); no tax Lien has been filed, and, to the knowledge of the Borrower, no material claim is being asserted, with respect to any such tax, fee or other charge that is not
being contested in good faith by appropriate proceedings. 
 Section 3.10 ERISA. Each Loan Party and each of its respective
ERISA Affiliates are in compliance in all material respects with all applicable provisions and requirements of ERISA with respect to each Pension Plan, and have performed all their obligations under each Pension Plan; 

(a) no ERISA Event has occurred or is reasonably expected to occur; 

(b) each Loan Party and each of its respective ERISA Affiliates has met all applicable requirements under the ERISA Funding Rules with respect
to each Pension Plan, and no waiver of the minimum funding standards under the ERISA Funding Rules has been applied for or obtained; 
 (c)
as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in Section 430(d)(2) of the Code) is at least 60%, and no Loan Party nor any of its respective ERISA Affiliates knows of any facts
or circumstances that could reasonably be expected to cause the funding target attainment percentage to fall below 60% as of the most recent valuation date; 

(d) as of the most recent valuation date for any Pension Plan, the amount of outstanding benefit liabilities (as defined in
Section 4001(a)(18) of ERISA), individually or in the aggregate for all Pension Plans (excluding for purposes of such computation any Pension Plans with respect to which assets exceed benefit liabilities), does not exceed $100,000; 

(e) the execution and delivery of this Agreement and the consummation of the transactions contemplated hereunder will not involve any
transaction that is subject to the prohibitions of Section 406 of ERISA or in connection with which taxes could be imposed pursuant to Section 4975(c)(1)(A)-(D) of the Code; 

(f) all liabilities under each Pension Plan are (i) funded to at least the minimum level required by law, (ii) provided for or
recognized in the financial statements most recently delivered to the 

  
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Administrative Agent and the Lenders pursuant hereto or (iii) estimated in the formal notes to the financial statements most recently delivered to the Administrative Agent and the Lenders
pursuant hereto; and; 
 (g)(i) no Loan Party is nor will any such Loan Party be a “plan” within the meaning of
Section 4975(e) of the Code; (ii) the respective assets of the Loan Parties do not and will not constitute “plan assets” within the meaning of the United States Department of Labor Regulations set forth in 29 C.F.R.
§2510.3-101; (iii) no Loan Party is nor will any such Loan Party be a “governmental plan” within the meaning of Section 3(32) of ERISA; and (iv) transactions by or with any Loan Party are not and will not be subject to
state statutes applicable to such Loan Party regulating investments of fiduciaries with respect to governmental plans. 
 Section 3.11
Disclosure. No statement or information contained in this Agreement, any other Loan Document or any other document, certificate or statement furnished by or on behalf of any Loan Party to any Agent or the Lenders, or any of them, for use in
connection with the transactions contemplated by this Agreement or the other Loan Documents, contained as of the date such statement, information, document or certificate was so furnished, any untrue statement of a material fact or omitted to state
a material fact necessary to make the statements contained herein or therein not misleading in any material respect. The projections and pro forma financial information contained in the materials referenced above are based upon good faith
estimates and assumptions believed by the Borrower to be reasonable at the time made, it being recognized by the Lenders that such financial information as it relates to future events is not to be viewed as fact and that actual results during the
period or periods covered by such financial information may differ from the projected results set forth therein by a material amount. There is no fact known to any Responsible Officer that could reasonably be expected to have a Material Adverse
Effect that has not been expressly disclosed herein, in the other Loan Documents or in any other documents, certificates and statements furnished to any Agent and the Lenders for use in connection with the transactions contemplated hereby and by the
other Loan Documents. 
 Section 3.12 Subsidiaries. Except as disclosed to the Administrative Agent by the Borrower in writing
from time to time after the Closing Date, (a) Schedule 3.12 sets forth the name and jurisdiction of organization of the Borrower and each Subsidiary of the Borrower and, as to each such Subsidiary, the percentage of each class of Equity
Interests owned by any Loan Party, and (b) there are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to employees or directors and directors’ qualifying
shares) of any nature relating to any Equity Interests of the Borrower or any Subsidiary, except as may be created by the Loan Documents. 

Section 3.13 USA PATRIOT Act. Each Loan Party is in compliance with the (a) Trading with the Enemy Act, as amended, and each of
the foreign assets control regulations of the United States Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) and any other enabling legislation or executive order relating thereto, and (b) the Patriot Act or the Bribery Act 2012.
No part of the proceeds of the Loans or Letters of Credit made hereunder will be used by any Loan Party or any of their Affiliates, directly or indirectly, for any payments to any governmental official or employee, political party, official of a
political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United States Foreign Corrupt Practices Act of 1977,
as amended. 
 Section 3.14 Sanctioned Persons. No Loan Party nor any of its Subsidiaries is in violation of any of the country
or list based economic and trade sanctions administered and enforced by the Office of Foreign Assets Control of the U.S. Treasury Department (“OFAC”). No Loan Party nor any of its Subsidiaries (a) is a Sanctioned Person or a
Sanctioned Entity, (b) has its assets located in Sanctioned Entities, or (c) derives revenues from investments in, or transactions with Sanctioned Persons 

  
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or Sanctioned Entities. No proceeds of any Loan or Letter of Credit made hereunder will be used to fund any operations in, finance any investments or activities in, or make any payments to, a
Sanctioned Person or a Sanctioned Entity. 
 Section 3.15 Margin Stock. 

(a) None of the Borrower or any of the Subsidiaries is engaged principally, or as one of its important activities, in the business of
extending credit for the purpose of buying or carrying Margin Stock. 
 (b) No part of the proceeds of any Loan will be used, whether
directly or indirectly, and whether immediately, incidentally or ultimately, for any purpose that entails a violation of, or that is inconsistent with, the provisions of the Regulations of the Board, including Regulation T, U or X. 

Section 3.16 Solvency. Each Loan Party is, and after giving effect to the incurrence of all Indebtedness, Obligations and
obligations being incurred in connection herewith, will be and will continue to be, Solvent. 
 Section 3.17 Immaterial
Subsidiaries. As of the Closing Date, no Restricted Subsidiaries are Immaterial Subsidiaries. 
 Section 3.18 Collateral
Documents. The Security Agreement is effective to create in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, a legal, valid and enforceable security interest in the Collateral described therein and the proceeds
thereof. In the case of the Equity Interests, if any, described in the Security Agreement that are securities represented by stock certificates or otherwise constituting certificated securities within the meaning of Section 8-102(a)(15) of the
UCC or the corresponding code or statute of any other applicable jurisdiction (“Certificated Securities”), when certificates representing such Equity Interests are delivered to the Collateral Agent, and in the case of the other
Collateral constituting personal property described in the Security Agreement, when financing statements and other filings specified on Schedule 3.18(a) in appropriate form are filed in the offices specified on Schedule 3.18(a), the
Collateral Agent, for the benefit of the Secured Parties, shall have a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in such Collateral and the proceeds thereof, as security for the Obligations,
in each case prior and superior in right to any other Person (except as otherwise contemplated by the Intercreditor Agreement and except for, in the case of Collateral other than Equity Interests, Liens permitted by Section 6.2 which are
non-consensual permitted Liens, permitted purchase money Liens, or the interests of lessors under capital leases). As of the Closing Date, no Loan Party that is a limited liability company or partnership has any Equity Interests that are not
Certificated Securities. 
 (b) Any Mortgages delivered after the Closing Date pursuant to Section 5.11 will be, upon execution,
effective to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a legal, valid and enforceable Lien on the Mortgaged Properties described therein and proceeds thereof, and when the Mortgages are filed in the offices for
the applicable jurisdictions in which the Mortgaged Properties are located, each such Mortgage shall constitute a fully perfected Lien on, and security interest in, all right, title and interest of the Loan Parties in the Mortgaged Properties and
the proceeds thereof, as security for the Obligations (as defined in the relevant Mortgage), in each case prior and superior in right to any other Person. 

  
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 ARTICLE IV 

CONDITIONS 

Section 4.1 Closing Date. The obligations of the Lenders to make Loans hereunder and Issuing Bank to issue Letters of Credit, as
applicable, shall not become effective until the date on which each of the following conditions is satisfied (or waived in accordance with Section 10.2): 

(a) The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart of this Agreement and
each other Loan Document signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy or electronic transmission of a signed signature page of this Agreement and each other Loan
Document) that such party has signed a counterpart of this Agreement and each other Loan Document. 
 (b) The Administrative Agent shall
have received a Note executed by the Borrower in favor of each Lender requesting a Note in advance of the Closing Date. 
 (c) The
Administrative Agent shall have received a fully executed copy of the Intercreditor Agreement. 
 (d) The Administrative Agent shall have
received a favorable written opinion (addressed to the Administrative Agent and the Lenders and dated the Closing Date) of Fenwick & West LLP, counsel for the Borrower in form and substance reasonably satisfactory to the Administrative
Agent. The Borrower hereby requests such counsel to deliver such opinion. 
 (e) The Administrative Agent shall have received
(i) certified copies of the resolutions of the board of directors of the Borrower and each other Loan Party approving the transactions contemplated by the Loan Documents to which it is a party and the execution and delivery of such Loan
Documents to be delivered by the Borrower and the other Loan Parties on the Closing Date, and all documents evidencing other necessary corporate (or other applicable organizational) action and governmental approvals, if any, with respect to the Loan
Documents, (ii) certified copies of the Operating Documents of such Loan Party and (iii) all other documents reasonably requested by the Administrative Agent relating to the organization, existence and good standing of each Loan Party and
authorization of the transactions contemplated hereby. 
 (f) The Administrative Agent shall have received a certificate of the Secretary or
an Assistant Secretary of each Loan Party certifying the names and true signatures of the officers of such Loan Party authorized to sign the Loan Documents to which it is a party, to be delivered by each Loan Party on the Closing Date and the other
documents to be delivered hereunder on the Closing Date. 
 (g) The Administrative Agent shall have received a certificate signed by a
Responsible Officer of the Borrower, dated as of the Closing Date and in form and substance reasonably satisfactory to it, certifying (A) that the conditions specified in Sections 4.2(b) and (c) have been satisfied, and
(B) that there has been no event or circumstance since December 31, 2013, that has had or that could reasonably be expected to have, either individually or in the aggregate, a Material Adverse Effect. 

(h) In order to create in favor of the Collateral Agent, for the benefit of the Secured Parties, a valid, perfected first priority security
interest in the Collateral (subject to Liens permitted by Section 6.2), each Loan Party shall have delivered to the Collateral Agent: 

(i) evidence satisfactory to the Collateral Agent of the compliance by each Loan Party of its obligations under the Security
Agreement and the other Collateral Documents (including its obligations to execute and deliver UCC financing statements, originals of securities, instruments and chattel paper, Mortgages with respect to the Material Real Estate Assets and any
agreements governing deposit and/or securities accounts as provided therein); 

  
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 (ii) a completed Perfection Certificate dated the Closing Date and executed by a
Responsible Officer of each Loan Party, together with all attachments contemplated thereby; and 
 (iii) evidence that each
Loan Party shall have taken or caused to be taken any other action, executed and delivered or caused to be executed and delivered any other agreement, document and instrument and made or caused to be made any other filing and recording (other than
as set forth herein) reasonably required by the Collateral Agent. 
 (g) The Lenders shall have received satisfactory evidence that the
Administrative Agent (on behalf of the Lenders) shall have a valid and perfected first priority (subject to Liens permitted by Section 6.2) lien and security interest in the Collateral. 

(h) The Administrative Agent shall have received all governmental, shareholder and third party consents and approvals necessary in connection
with (A) the entering into and arrangement of this Agreement, and (B) all related transactions and the related financings and other transactions contemplated hereby and expiration of all applicable waiting periods without any action being
taken by any authority that could restrain, prevent or impose any material adverse conditions on the Borrower and its Subsidiaries or such other transactions or that could seek or threaten any of the foregoing, and no law or regulation shall be
applicable which in the reasonable judgment of the Administrative Agent could have such effect. 
 (i) There shall not have occurred since
December 31, 2013 any event or condition that has had or could be reasonably expected, either individually or in the aggregate, to have a Material Adverse Effect. 

(j) The absence of any action, suit, investigation or proceeding pending or, to the knowledge of the Borrower, threatened in any court or
before any arbitrator or governmental authority that could reasonably be expected to be determined adversely to any Loan Party which, if so determined, could reasonably be expected to have a Material Adverse Effect. 

(k) The Lenders shall have received (i) audited consolidated financial statements of the Borrower for the fiscal years ended as of
December 31, 2011, December 31, 2012 and December 31, 2013, and (ii) unaudited interim consolidated financial statements of the Borrower for the fiscal months ended March 31, 2014 and June 30, 2014 and each fiscal
quarter ended thereafter that ends at least 15 days before the Closing Date. 
 (l) The Collateral Agent shall have received a certificate
from the applicable Loan Party’s insurance broker or other evidence reasonably satisfactory to it that all insurance required to be maintained pursuant to Section 5.5 is in full force and effect, together with endorsements naming
the Collateral Agent, for the benefit of the Secured Parties, as additional insured and loss payee thereunder to the extent required under Section 5.5. 

(m) On the Closing Date, the Administrative Agent shall have received a Solvency Certificate in form, scope and substance reasonably
satisfactory to the Administrative Agent, and demonstrating that Borrower is, individually and together with its Subsidiaries, are and will be Solvent. 

  
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 (n) All accrued fees and expenses of the Agents and Lenders (including the fees and expenses of
counsel (including any local counsel) for the Agents) shall have been paid. 
 (o) The Administrative Agent shall have received a fully
executed copy of the ABL Credit Agreement certified by a Responsible Officer to be a true and complete copy of the ABL Credit Agreement. 

(p)(i) All Indebtedness under the Subordinated Loan Agreement shall have been repaid in full, together with all fees and other amounts owing
thereon and all commitments thereunder shall have been terminated and all liens securing the obligations under the Subordinated Loan Agreement shall have been terminated (or arrangements reasonably satisfactory to the Administrative Agent for such
termination shall have been made) and (ii) the Borrower and its Restricted Subsidiaries shall have no Indebtedness for borrowed money outstanding as of the Closing Date other than the Obligations and Indebtedness under the ABL Credit Agreement.

 (q) The Administrative Agent shall have received, to the extent reasonably requested by any of the Lenders at least five Business Days
prior to the Closing Date, all documentation and other information required by bank regulatory authorities under applicable “know-your-customer” and anti-money laundering rules and regulations, including the USA Patriot Act. 

The Administrative Agent shall notify the Borrower and the Lenders of the Closing Date, and such notice shall be conclusive and binding.
Without limiting the generality of the provisions of Article IX, for purposes of determining compliance with the conditions specified in this Section, each Lender that has signed this Agreement shall be deemed to have consented to, approved
or accepted or to be satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to
the proposed Closing Date specifying its objection thereto. 
 Section 4.2 Each Credit Event. The obligation of each Lender to
make a Loan or Issuing Bank to issue any Letter of Credit, as applicable, on the occasion of any Borrowing (other than a Borrowing consisting solely of a conversion of Loans of one Type to another Type or a continuation of a Eurodollar Loan
following the expiration of the applicable Interest Period), or the obligation of Issuing Bank to extend the maturity or increase the face amount of any Letter of Credit on the date of any such extension or increase, and the effectiveness of any
Commitment Increase pursuant to Section 2.19 or any extension of the Maturity Date pursuant to Section 2.20, is subject to the satisfaction of the following condition: 

(a) The Administrative Agent shall have received a fully executed and delivered Borrowing Request or Issuance Notice and Application, as the
case may be; 
 (b) The representations and warranties of the Borrower set forth in this Agreement and the other Loan Documents shall be
true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties shall be true and correct in all respects) on and as of the date
of such Borrowing, Commitment Increase, increase or extension, as applicable, except that (i) for purposes of this Section, the representations and warranties contained in Section 3.4(a) shall be deemed to refer to the most recent
statements furnished pursuant to clauses (a) and (b), respectively, of Section 5.1 and (ii) to the extent that such representations and warranties specifically refer to an earlier date, they shall be true and correct in all
material respects as of such earlier date (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties shall be true and correct in all respects); 

  
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 (c) At the time of and immediately after giving effect to such Borrowing, Commitment Increase,
increase or extension, as applicable, no Default or Event of Default shall have occurred and be continuing; and 
 (d) After giving effect
to such Borrowing, Commitment Increase, increase or extension, as applicable, the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal quarter most recently ended for which financial statements are
required to be delivered pursuant to Section 5.1, shall not exceed the maximum Consolidated Total Leverage Ratio permitted under Section 6.12 for such period. 

Each Borrowing, extension, increase, Commitment Increase and extension of the Maturity Date shall be deemed to constitute a representation and
warranty by the Borrower that the conditions specified in paragraphs (b), (c) and (d) of this Section have been satisfied as of the date thereof. 

ARTICLE V 
 AFFIRMATIVE
COVENANTS 
 Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable
hereunder shall have been paid in full and all Letters of Credit have been cancelled or expired or cash collateralized on terms reasonably satisfactory to Issuing Bank, each Loan Party covenants and agrees with the Lenders that: 

Section 5.1 Financial Statements; Other Information. The Borrower will furnish to the Administrative Agent (for distribution to
each Lender): 
 (a) as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower (or, if
earlier, 15 days after the date required to be filed with the SEC (without giving effect to any extension permitted by the SEC) following a Qualified IPO or other securities offering, a copy of the audited consolidated and consolidating balance
sheet of the Borrower and its consolidated Subsidiaries as at the end of such fiscal year and the related audited consolidated and consolidating statements of income and of cash flows for such fiscal year, setting forth in each case in comparative
form the figures for the previous year, together with an unqualified opinion by PricewaterhouseCoopers or other independent certified public accountants of nationally recognized standing and reasonably acceptable to the Administrative Agent; 

(b) as soon as available, but in any event not later than 30 days after the end of each month during each fiscal year of the Borrower, the
unaudited consolidated and consolidating balance sheet of the Borrower and its consolidated Subsidiaries as at the end of such month and the related unaudited consolidated and consolidating statements of income and of cash flows for such month and
the portion of the fiscal year then ended, setting forth in each case in comparative form the figures for the previous year, certified by a Responsible Officer of the Borrower as being fairly stated in all material respects (subject to normal
year-end audit adjustments); 
 (c) concurrently with the delivery of any financial statements pursuant to subsections (a) and (b),
(i) a certificate of a Responsible Officer stating that, to the best of such Responsible Officer’s knowledge, each Loan Party during such period has observed or performed all of its covenants and other agreements, and satisfied every
condition contained in this Agreement and the other Loan Documents to 

  
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which it is a party to be observed, performed or satisfied by it, and that such Responsible Officer has obtained no knowledge of any Default or Event of Default except as specified in such
certificate and (ii) in the case of all monthly or annual financial statements, (x) a Compliance Certificate containing all information and calculations necessary for determining compliance by each Loan Party with the provisions of this
Agreement referred to therein as of the last day of the month or fiscal year of the Borrower, as the case may be, and (y) to the extent not previously disclosed to the Administrative Agent, a description of any change in the jurisdiction of
organization of any Loan Party and a list of any Intellectual Property issued to or acquired by any Loan Party since the date of the most recent report delivered pursuant to this clause (y) (or, in the case of the first such report so
delivered, since the Closing Date); 
 (d) as soon as available, and in any event no later than 45 days after the end of each fiscal year of
the Borrower, a detailed consolidated budget for such immediately subsequent fiscal year (including a projected consolidated balance sheet of the Borrower and its Subsidiaries as of the end of each fiscal quarter of such fiscal year, the related
consolidated statements of projected cash flow, projected changes in financial position and projected income and a description of the underlying assumptions applicable thereto, and projected covenant compliance for each fiscal quarter period of such
fiscal year), and, as soon as available, significant revisions, if any, of such budget and projections with respect to such fiscal year (collectively, the “Projections”), which Projections shall in each case be accompanied by a
certificate of a Responsible Officer of the Borrower stating that such Projections are based upon good faith estimates and assumptions believed by the Borrower to be reasonable at the time made, it being recognized that Projections are not to be
viewed as fact and that actual results during the period or periods covered by such Projections may differ from the projected results set forth therein by a material amount; 

(e) promptly, and in any event within five (5) Business Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of
each notice or other correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation or possible investigation or other inquiry by such agency regarding financial or other operational
results of any Loan Party or any Subsidiary thereof (other than routine comment letters from the staff of the SEC relating to the Borrower’s filings with the SEC); 

(f) within five days after the same are sent, copies of each annual report, proxy or financial statement or other material report that the
Borrower sends to the holders of any class of the Borrower’s debt securities or public equity securities and, within five days after the same are filed, copies of all annual, regular, periodic and special reports and registration statements
which the Borrower may file with the SEC under Section 13 or 15(d) of the Exchange Act, or with any national securities exchange, and not otherwise required to be delivered to the Administrative Agent pursuant hereto; 

(g) upon request by the Administrative Agent, within five days after the same are sent or received, copies of all correspondence, reports,
documents and other filings with any Governmental Authority regarding compliance with or maintenance of Governmental Approvals or Requirements of Law and that could reasonably be expected to have a Material Adverse Effect on any of the Governmental
Approvals or otherwise on the operations of the Loan Parties; 
 (h) concurrently with the delivery of the financial statements referred to
in subsections (a) and (b), copies of all written reports, presentations or memoranda with respect to results of operations or financial information of the Borrower or any Restricted Subsidiary that have been delivered to the Board of Directors
of the Borrower for such month, excluding any material determined by the Borrower in good faith to be highly sensitive or confidential; 

  
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 (i) concurrently with the delivery of the financial statements referred to in subsections (a), a
report of a reputable insurance broker with respect to the insurance coverage required to be maintained pursuant to Section 5.5 and the terms of the Security Agreement, together with any supplemental reports with respect thereto which
any Agent may reasonably request; 
 (j) promptly following any request in writing (including any electronic message) therefor, such other
information regarding the operations, business affairs and financial condition of the Borrower or any Subsidiary, or compliance with the terms of this Agreement or any other Loan Document, as the Administrative Agent or any Lender (through the
Administrative Agent) may reasonably request; and 
 (k) the Borrower will furnish to the Collateral Agent (i) any information
regarding Collateral required pursuant to the Collateral Documents and (ii) each year, at the time of delivery of annual financial statements with respect to the preceding fiscal year pursuant to Section 5.1(a), a certificate of its
Responsible Officer (x) either confirming that there has been no change in the information contained in the schedules to the Security Agreement since the Closing Date or the date of the most recent certificate delivered pursuant to this Section
and/or identifying such changes in the form of a Security Supplement delivered pursuant to Section 4.2 of the Security Agreement and (y) certifying that, to its knowledge, all Uniform Commercial Code financing statements (including
fixtures filings, as applicable) and all supplemental intellectual property security agreements or other appropriate filings, recordings or registrations, have been filed of record in each governmental, municipal or other appropriate office in each
jurisdiction identified in the documents delivered pursuant to clause (x) above to the extent necessary to effect, protect and perfect the security interests under the Collateral Documents (except as noted therein with respect to any
continuation statements to be filed within such period). 
 Information required to be delivered pursuant to Section 5.1(b) and
Section 5.1(c) shall be required to be delivered for each fiscal quarter of the Borrower, not later than 45 days after the end of each such fiscal quarter, at any time (i) that quarterly financial statements are required to be
delivered under any Material Indebtedness of the Borrower, (ii) after a Qualified IPO or (iii) after the ABL Credit Agreement has been repaid in full and terminated. 

Information required to be delivered pursuant to Section 5.1(a) or Section 5.1(b) may be delivered electronically and
if so delivered, shall be deemed to have been delivered on the date (i) on which the Borrower posts such information, or provides a link thereto on the Borrower’s website on the Internet at http://www.fitbit.com (or any successor
page) or at http://www.sec.gov; or (ii) on which such information is posted on the Borrower’s behalf on an Internet or intranet website, if any, to which the Lenders and the Administrative Agent have been granted access (whether a
commercial, third-party website or whether sponsored by the Administrative Agent); provided that, (x) to the extent the Administrative Agent or any Lender so requests, the Borrower shall deliver paper copies of such documents to the
Administrative Agent or such Lender until a written request to cease delivering paper copies is given by the Administrative Agent or such Lender and (y) the Borrower shall notify the Administrative Agent (by facsimile or electronic mail) of the
posting of any such documents. The Administrative Agent shall have no obligation to request the delivery or to maintain copies of the documents referred to herein, and in any event shall have no responsibility to monitor compliance by the Borrower
with any such request for delivery, and each Lender shall be solely responsible for requesting delivery to it or maintaining its copies of such documents. 

Section 5.2 Notices of Material Events. The Borrower will furnish to the Administrative Agent (for distribution to each Lender)
prompt written notice of the following: 
 (a) the occurrence of any Default; 

  
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 (b) the filing or commencement of any action, suit or proceeding by or before any arbitrator or
Governmental Authority against or affecting the Borrower or any Subsidiary thereof that would reasonably be expected to result in a Material Adverse Effect; and 

(c) any other development that becomes known to any officer of the Borrower or any of its Subsidiaries that results in, or would reasonably be
expected to result in, a Material Adverse Effect. 
 Each notice delivered under this Section shall be accompanied by a statement of a Responsible Officer
or other executive officer of the Borrower setting forth the details of the event or development requiring such notice and any action taken or proposed to be taken with respect thereto. 

Section 5.3 Existence; Conduct of Business. The Borrower will, and will cause each of its Restricted Subsidiaries to, do or cause
to be done all things necessary to preserve, renew and keep in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that (i) the foregoing shall
not prohibit any merger, consolidation, liquidation or dissolution permitted under Section 6.3 and (ii) none of the Borrower or any of its Restricted Subsidiaries shall be required to preserve, renew or keep in full force and effect
its rights, licenses, permits, privileges or franchises where failure to do so would not reasonably be expected to result in a Material Adverse Effect. 

Section 5.4 Payment of Taxes. The Borrower will, and will cause each of its Restricted Subsidiaries to, pay all Tax liabilities,
including all Taxes imposed upon it or upon its income or profits or upon any properties belonging to it that, if not paid, would reasonably be expected to result in a Material Adverse Effect, before the same shall become delinquent or in default,
and all lawful claims other than Tax Liabilities which, if unpaid, would become a Lien upon any properties of the Borrower or any of its Restricted Subsidiaries not otherwise permitted under Section 6.2, in both cases except where
(a) the validity or amount thereof is being contested in good faith by appropriate proceedings and (b) to the extent required by GAAP, the Borrower or such Restricted Subsidiary has set aside on its books adequate reserves with respect
thereto in accordance with GAAP. 
 Section 5.5 Maintenance of Properties; Insurance. The Borrower will, and will cause each of
its Restricted Subsidiaries to, (a) keep and maintain all property used in the conduct of its business in good working order and condition, ordinary wear and tear and casualty events excepted, except to the extent that failure to do so could
not reasonably be expected to have a Material Adverse Effect, and (b) maintain insurance with financially sound and reputable insurance companies in such amounts and against such risks as are customarily maintained by companies engaged in the
same or similar businesses operating in the same or similar locations. Except as otherwise agreed by the Collateral Agent, each such policy of insurance shall (a) name the Collateral Agent, on behalf of the Secured Parties, as an additional
insured thereunder as its interests may appear and (b) in the case of each casualty insurance policy, contain a loss payable clause or endorsement, reasonably satisfactory in form and substance to the Collateral Agent, that names the Collateral
Agent, on behalf of the Secured Parties, as the loss payee thereunder and provide for at least thirty days’ prior written notice to the Collateral Agent of any cancellation of such policy. 

Section 5.6 Books and Records; Inspection Rights. The Borrower will, and will cause each of its Restricted Subsidiaries to, keep
proper books of record and account in which entries full, true and correct in all material respects are made and are sufficient to prepare financial statements in accordance with GAAP (other than as set forth in Schedule 3.4). The Borrower
will, and will cause each of its Restricted Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender (pursuant to the request made through the Administrative Agent), upon reasonable prior notice, to visit and
inspect its properties, to examine and make extracts from its books and records, and to discuss 

  
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its affairs, finances and condition with its officers and independent accountants (provided, that the Borrower or such Restricted Subsidiary shall be afforded the opportunity to participate in
any discussions with such independent accountants), all at such reasonable times and as often as reasonably requested (but no more than once annually if no Event of Default exists). Notwithstanding anything to the contrary in this Section, none of
the Borrower or any of its Restricted Subsidiaries shall be required to disclose, permit the inspection, examination or making copies or abstracts of, or discussion of, any document, information or other matter that (i) constitutes
non-financial trade secrets or non-financial proprietary information, (ii) in respect of which disclosure to the Administrative Agent or any Lender (or their respective representatives) is prohibited by applicable law or (iii) is subject
to attorney, client or similar privilege or constitutes attorney work-product. 
 Section 5.7 ERISA-Related Information. The
Borrower shall supply to the Administrative Agent (in sufficient copies for all the Lenders, if the Administrative Agent so requests): 

(a) promptly and in any event within 15 days after the Borrower, any Restricted Subsidiary or any ERISA Affiliate files a Schedule B (or such
other schedule as contains actuarial information) to IRS Form 5500 in respect of a Plan with Unfunded Pension Liabilities, a copy of such IRS Form 5500 (including the Schedule B); 

(b) promptly and in any event within 30 days after the Borrower, any Restricted Subsidiary or any ERISA Affiliate knows or has reason to know
that any ERISA Event has occurred, a certificate of the chief financial officer of the Borrower describing such ERISA Event and the action, if any, proposed to be taken with respect to such ERISA Event and a copy of any notice filed with the PBGC or
the IRS pertaining to such ERISA Event and any notices received by such Borrower, Restricted Subsidiary, or ERISA Affiliate from the PBGC or any other governmental agency with respect thereto; provided that, in the case of ERISA Events under
paragraph (d) of the definition thereof, the 30-day period set forth above shall be a 10-day period, and, in the case of ERISA Events under paragraph (b) of the definition thereof, in no event shall notice be given later than the
occurrence of the ERISA Event; 
 (c) promptly, and in any event within 30 days, after becoming aware that there has been (i) a material
increase in Unfunded Pension Liabilities (taking into account only Pension Plans with positive Unfunded Pension Liabilities) since the date the representations hereunder are given or deemed given, or from any prior notice, as applicable;
(ii) the existence of potential withdrawal liability under Section 4201 of ERISA, if the Borrower, any Restricted Subsidiary and the ERISA Affiliates were to withdraw completely from any and all Multiemployer Plans, (iii) the adoption
of, or the commencement of contributions to, any Plan subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA by the Borrower, any Restricted Subsidiary or any ERISA Affiliate, or (iv) the adoption of any
amendment to a Plan subject to Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA which results in a material increase in contribution obligations of the Borrower, any Restricted Subsidiary or any ERISA Affiliate, a
detailed written description thereof from the chief financial officer of the Borrower; and 
 (d) if, at any time after Closing Date, the
Borrower, any Restricted Subsidiary or any ERISA Affiliate maintains, or contributes to (or incurs an obligation to contribute to), a Pension Plan or Multiemployer Plan which is not set forth in Schedule 3.10, then the Borrower shall deliver
to the Administrative Agent an updated Schedule 3.10 as soon as practicable, and in any event within 10 days after the Borrower, such Restricted Subsidiary or such ERISA Affiliate maintains, or contributes to (or incurs an obligation to
contribute to), thereto. 
 Section 5.8 Compliance with Laws and Agreements. The Borrower will, and will cause each of its
Restricted Subsidiaries to, comply with all laws, rules, regulations and orders of any 

  
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Governmental Authority applicable to it or its property and all indentures, agreements and other instruments binding upon it or its property, except where the failure to do so, individually or in
the aggregate, would not reasonably be expected to result in a Material Adverse Effect. 
 Section 5.9 Use of Proceeds. The
proceeds of the Loans will be used only for ongoing working capital and general corporate purposes, including, without limitation, for stock repurchases under stock repurchase programs approved by the Borrower and for Acquisitions. No part of the
proceeds of any Loan will be used, whether directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X. 

Section 5.10 Additional Guarantors. In the event that any Person becomes a Subsidiary (other than an Excluded Subsidiary), the
Borrower shall within 30 days thereafter (or such longer period of time as the Collateral Agent may agree in its sole discretion) (i) cause such Subsidiary to become a Guarantor hereunder by executing and delivering to the Administrative Agent
a Counterpart Agreement and a Grantor under the Security Agreement by executing and delivering to the Collateral Agent the joinder agreement required thereunder, and (ii) take all such actions and execute and deliver, or cause to be executed
and delivered, all such documents, instruments, agreements, and certificates reasonably requested by the Collateral Agent or required by the Collateral Documents. In the event that any Person becomes a Foreign Subsidiary of the Borrower (other than
an Unrestricted Subsidiary), and the ownership interests of such Foreign Subsidiary are owned by any Loan Party, such Loan Party shall within 30 days thereafter (or such longer period of time as the Collateral Agent may agree in its sole discretion)
take all of the actions referred to in the Security Agreement necessary to grant a perfected security interest in favor of the Collateral Agent, for the benefit of the Secured Parties, under the Security Agreement in the Equity Interests of such
Foreign Subsidiary (provided, that in no event shall more than 65% of the total outstanding Equity Interests of any such Foreign Subsidiary that is an Excluded Subsidiary be required to be so pledged). With respect to each such Subsidiary
(other than an Excluded Subsidiary) and Foreign Subsidiary, the Borrower shall promptly send to the Administrative Agent written notice setting forth with respect to such Person (i) the date on which such Person became a Subsidiary, and
(ii) all of the data required to be set forth in Schedule 3.12 hereto; and such written notice shall be deemed to supplement Schedule 3.12 for all purposes hereof. If requested by the Administrative Agent, the Administrative Agent
shall receive an opinion of counsel for the Borrower in form and substance reasonably satisfactory to the Administrative Agent in respect of such customary matters as may be reasonably requested by the Administrative Agent relating to any
Counterpart Agreement or joinder agreement delivered pursuant to this Section, dated as of the date of such agreement. 
 Section 5.11
Additional Material Real Estate Assets. In the event that any Loan Party acquires a Material Real Estate Asset or a Real Estate Asset owned or leased on the Closing Date becomes a Material Real Estate Asset due to a material renovation of or
addition to such Real Estate Assets and such interest has not otherwise been made subject to the Lien of the Collateral Documents in favor of the Collateral Agent, for the benefit of the Secured Parties, then such Loan Party shall promptly provide
notice to the Administrative Agent of such acquisition or event and, to the extent requested by the Administrative Agent or the Required Lenders, shall promptly (i) execute and deliver a first priority Mortgage, in favor of the Collateral
Agent, for the ratable benefit of the Secured Parties, covering such real property, (ii) if requested by the Administrative Agent, provide the Lenders with (x) title and extended coverage insurance covering such real property in an amount
at least equal to the purchase price of such real property (or such other amount as shall be reasonably specified by the Administrative Agent) as well as a current ALTA survey thereof, together with a surveyor’s certificate, and (y) any
consents or estoppels reasonably deemed necessary or advisable by the Administrative Agent in connection with such Mortgage, each of the foregoing in form and substance reasonably satisfactory to the Administrative Agent, and (iii) if requested
by the Administrative Agent, deliver to the Administrative Agent legal opinions relating to the matters described above, which opinions shall be in form and substance, and from 

  
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counsel, reasonably satisfactory to the Administrative Agent. In connection with the foregoing, no later than three (3) Business Days prior to the date on which a Mortgage is executed and
delivered pursuant to this Section 5.11, in order to comply with the Flood Laws, the Administrative Agent shall have received the following documents: (A) a completed standard “life of loan” flood hazard determination
form, (B) if the improvement(s) to the applicable improved real property is located in a special flood hazard area, a notification to the applicable Loan Party (“Loan Party Notice”) and (if applicable) notification to the
applicable Loan Party that flood insurance coverage under the National Flood Insurance Program (“NFIP”) is not available because the community does not participate in the NFIP, (C) documentation evidencing the applicable Loan
Party’s receipt of the Loan Party Notice (e.g., countersigned Loan Party Notice, return receipt of certified U.S. Mail, or overnight delivery), and (D) if the Loan Party Notice is required to be given and, to the extent flood insurance is
required by any applicable Requirement of Law or any Lenders’ written regulatory or compliance procedures and flood insurance is available in the community in which the property is located, a copy of one of the following: the flood insurance
policy, the applicable Loan Party’s application for a flood insurance policy plus proof of premium payment, a declaration page confirming that flood insurance has been issued, or such other evidence of flood insurance reasonably satisfactory to
the Administrative Agent. 
 Section 5.12 Further Assurances. Each Loan Party shall take such actions as the Administrative
Agent or the Collateral Agent may reasonably request from time to time to ensure that the Obligations are (i) guaranteed by the Guarantors and (ii) are secured by the Collateral. If at any time the Collateral Agent receives a notice from a
Lender or otherwise becomes aware that any mortgaged Material Real Estate Asset has become a Flood Hazard Property, the Collateral Agent shall deliver such notice to the Borrower and the Borrower shall take all actions required as a result of such
change as described in Section 5.11. 
 Section 5.13 Environmental Laws. 

Except where the same would not reasonably be expected to have a Material Adverse Effect, the Borrower will, and will cause each of its
Restricted Subsidiaries to: 
 (a) Comply in all material respects with, and use reasonable commercial efforts to bring about compliance in
all respects by all tenants and subtenants, if any, with, all applicable Environmental Laws, and obtain and comply in all respects with and maintain, and use reasonable commercial efforts to bring about that all tenants and subtenants obtain and
comply in all respects with and maintain, any and all licenses, approvals, notifications, registrations or permits required by applicable Environmental Laws. 

(b) Conduct and complete all investigations, studies, sampling and testing, and all remedial, removal and other actions required under
Environmental Laws and promptly comply in all respects with all lawful orders and directives of all Governmental Authorities regarding Environmental Laws. 

Section 5.14 Designation of Restricted and Unrestricted Subsidiaries. 

(a) At any time after repayment in full, and termination of all commitments under, the ABL Credit Agreement, the Board of Directors may
designate any Subsidiary, including a newly acquired or created Subsidiary, to be an Unrestricted Subsidiary if it meets the following qualifications: 

(i) such Subsidiary does not own any Equity Interest of the Borrower or any Restricted Subsidiary; 

  
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 (ii) the Borrower would be permitted to make an Investment at the time of the
designation in an amount equal to the aggregate fair market value of all Investments of the Borrower or its Restricted Subsidiaries in such Subsidiary; 

(iii) any Guarantee or other credit support thereof by the Borrower or any Restricted Subsidiary is permitted under
Section 6.1 or Section 6.7; 
 (iv) neither the Borrower nor any Restricted Subsidiary has any
obligation to subscribe for additional Equity Interests of such Subsidiary or to maintain or preserve its financial condition or cause it to achieve specified levels of operating results except to the extent permitted by Section 6.1 or
Section 6.7; 
 (v) immediately before and after such designation, no Default or Event of Default shall have
occurred and be continuing or would result from such designation; 
 (vi) no Subsidiary may be designated as an Unrestricted
Subsidiary if it is a “restricted subsidiary” or a “guarantor” (or any similar designation) for any other Indebtedness of the Borrower or a Restricted Subsidiary; and 

(vii) immediately after such designation on a Pro Forma Basis, the Consolidated Total Leverage Ratio, as of the last day of the
fiscal quarter most recently ended for which financial statements are required to be delivered pursuant to Section 5.1, shall not exceed the maximum Consolidated Total Leverage Ratio permitted under Section 6.12 for such
period. 
 Once so designated, the Subsidiary will remain an Unrestricted Subsidiary, subject to subsection (b). 

(b) A Subsidiary previously designated as an Unrestricted Subsidiary which fails to meet the qualifications set forth in subsections (a)(i),
(a)(iii), (a)(iv) or (a)(vi) of this Section 5.14 will be deemed to become at that time a Restricted Subsidiary, subject to the consequences set forth in subsection (d). The Board of Directors may designate an Unrestricted Subsidiary to
be a Restricted Subsidiary if the designation would not cause an Event of Default. 
 (c) Upon a Restricted Subsidiary becoming an
Unrestricted Subsidiary, 
 (i) all existing Investments of the Borrower and the Restricted Subsidiaries therein (valued at
the Borrower’s proportional share of the fair market value of its assets less liabilities) will be deemed made at that time; 

(ii) all existing Equity Interest or Indebtedness of the Borrower or a Restricted Subsidiary held by it will be deemed incurred
at that time, and all Liens on property of the Borrower or a Restricted Subsidiary held by it will be deemed incurred at that time; 

(iii) all existing transactions between it and the Borrower or any Restricted Subsidiary will be deemed entered into at that
time; 
 (iv) it is released at that time from the Guaranty and the Security Agreement and all related security interests on
its property shall be released; and 
  

	 	(v)	it will cease to be subject to the provisions of this Agreement as a Restricted Subsidiary. 

  
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 (d) Upon an Unrestricted Subsidiary becoming, or being deemed to become, a Restricted Subsidiary
pursuant to Section 5.14(b), 
 (i) all of its Indebtedness will be deemed incurred at that time for purposes of
Section 6.1; 
 (ii) Investments therein previously charged under Section 6.7 will be credited
thereunder; 
 (iii) it may be required to become a Guarantor pursuant to Section 5.10; and 

(iv) it will thenceforward be subject to the provisions of this Agreement as a Restricted Subsidiary. 

(e) Any designation by the Board of Directors of a Subsidiary as an Unrestricted Subsidiary after the Closing Date will be evidenced to the
Administrative Agent by promptly filing with the Administrative Agent a copy of the resolutions of the Board of Directors giving effect to the designation and a certificate of an officer of the Borrower certifying that the designation complied with
the foregoing provisions. 
 Section 5.15 Post-Closing Covenant. 

Within 45 days after the Closing Date (or such other date as the Collateral Agents shall agree in its sole discretion), the Borrower shall
cause to be delivered to the Collateral Agent (a) certificates (together with appropriate instruments of transfer, executed in blank), if any, representing up to 66% of the total outstanding voting Equity Interests (and 100% of the non-voting
Equity Interests) of each of the Subsidiaries set forth on Schedule 5.15, in each case that is required to be pledged to the Collateral Agent pursuant to Loan Documents and (b) lender’s loss payable, additional insured and notice of
cancellation endorsements, as applicable, with respect to each Loan Party’s liability and property insurance policies, in each case, in form and substance reasonably satisfactory to the Collateral Agent. 

ARTICLE VI 
 NEGATIVE COVENANTS

 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have
been paid in full and all Letters of Credit have been cancelled or expired or cash collateralized on terms reasonably satisfactory to Issuing Bank, each Loan Party covenants and agrees with the Lenders that: 

Section 6.1 Indebtedness. No Loan Party shall, nor shall it permit any of its Restricted Subsidiaries to, create, incur or assume,
or otherwise become or remain directly or indirectly liable with respect to any Indebtedness, except: 
 (a)(i) the Obligations and
(ii) the “Obligations” under and as defined in the ABL Credit Agreement; provided, that the aggregate amount of such Indebtedness under this clause (ii) does not exceed $287,500,000; 

(b) Indebtedness of the Borrower or its Restricted Subsidiaries with respect to Capital Lease Obligations, sale-lease back transactions and
purchase money Indebtedness in an aggregate 

  
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principal amount not to exceed $50,000,000 at any time; provided that any such Indebtedness shall be secured only by the asset (including all accessions, attachments, improvements and the
proceeds thereof) acquired in connection with the incurrence of such Indebtedness; 
 (c) Unsecured Indebtedness in an aggregate outstanding
principal amount not to exceed at any time $100,000,000; 
 (d) Indebtedness of any Restricted Subsidiary to the Borrower or to any other
Restricted Subsidiary, or of the Borrower to any Restricted Subsidiary; provided that (i) all such Indebtedness owing by a Loan Party to any Restricted Subsidiary that is not a Guarantor shall be unsecured and subordinated in right of
payment to the payment in full of the Obligations and (ii) any such Indebtedness of any Restricted Subsidiary that is not a Guarantor owing to any Loan Party shall be subject to the limitations set forth in Section 6.7(d); 

(e) Indebtedness which may be deemed to exist pursuant to any Guarantees, performance, statutory or similar obligations (including in
connection with workers’ compensation) or obligations in respect of letters of credit, surety bonds, bank guarantees or similar instruments related thereto incurred in the ordinary course of business, or pursuant to any appeal obligation,
appeal bond or letter of credit in respect of judgments that do not constitute an Event of Default under Section 8.1(k); 
 (f)
Indebtedness in connection with cash management agreements, netting services, overdraft protections and otherwise in connection with deposit accounts; 

(g) Guarantees by the Borrower of Indebtedness of a Restricted Subsidiary or Guarantees by a Restricted Subsidiary of Indebtedness of the
Borrower or another Restricted Subsidiary with respect, in each case, to Indebtedness otherwise permitted to be incurred pursuant to this Section 6.1; provided, that (i) if the Indebtedness that is being guarantied is
unsecured and/or subordinated to the Obligations, the Guarantee shall also be unsecured and/or subordinated to the Obligations and (ii) in the case of Guarantees by a Loan Party of the obligations of a Restricted Subsidiary that is not a
Guarantor, such Guarantees shall be permitted by Section 6.7; 
 (h) Swap Agreements entered into in order to effectively cap,
collar or exchange interest rates (from floating to fixed rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Restricted Subsidiary, or to hedge
currency exposure or to hedge energy costs or exposure, which, in any case, are not entered into for speculative purposes; 
 (i) other
Indebtedness not otherwise permitted hereunder so long as (i) after giving effect to the incurrence of such Indebtedness, the Borrower’s Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal
quarter most recently ended for which financial statements are required to be delivered pursuant to Section 5.1, does not exceed 3.00 to 1.00 and (ii) no Default or Event of Default has occurred and is continuing or would result
therefrom; and 
 (j) Indebtedness in an aggregate outstanding amount not to exceed at any time $100,000,000 consisting of purchase price
adjustments, earn-outs, deferred compensation, or other arrangements representing acquisition consideration or deferred payments of a similar nature incurred in connection with any Permitted Acquisition (and, in the case of deferred compensation
representing, or in substance representing, consideration or a portion of the purchase price in connection with such Permitted Acquisition) or other Investment permitted by Section 6.7 (collectively, “Deferred Payment
Obligations”), the amount of which shall be deemed to be the amount required to be accrued as a liability in accordance with GAAP. 

  
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 Notwithstanding the foregoing exceptions, no Loan Party shall permit FitBit International Holdings or any of its
Subsidiaries or parent entities that are not Loan Parties to, create, incur or assume, or otherwise become or remain directly or indirectly liable with respect to any Indebtedness permitted under this Section 6.1 (other than Indebtedness
permitted under Section 6.1(d) that is owed to a Loan Party or to a Subsidiary of FitBit International Holdings) in excess of $18,000,000 at any time outstanding. 

Section 6.2 Liens. The Borrower will not, and will not permit any Restricted Subsidiary to, create, incur, assume or permit to
exist any Lien on any property or asset now owned or hereafter acquired by it except: 
 (a) Permitted Encumbrances; 

(b) any Lien on any property or asset of the Borrower or any Restricted Subsidiary existing on the date hereof and set forth in Schedule
6.2 and any modifications, renewals and extensions thereof and any Lien granted as a replacement or substitute therefor; provided that (i) such Lien shall not apply to any other property or asset of the Borrower or any Restricted
Subsidiary other than improvements thereon or proceeds thereof and (ii) such Lien shall secure only those obligations which it secures on the date hereof and any refinancing, extension, renewal or replacement thereof that does not increase the
outstanding principal amount thereof; 
 (c) any Lien existing on any property or asset prior to the acquisition thereof by the Borrower or
any Restricted Subsidiary or existing on any property or asset of any Person that becomes a Restricted Subsidiary after the date hereof prior to the time such Person becomes a Restricted Subsidiary; provided that (i) such Lien is not
created in contemplation of or in connection with such acquisition or such Person becoming a Restricted Subsidiary, as the case may be, (ii) such Lien shall not apply to any other property or assets of the Borrower or any Restricted Subsidiary
and (iii) such Lien shall secure only those obligations which it secures on the date of such acquisition or the date such Person becomes a Restricted Subsidiary, as the case may be, and any refinancing, extension, renewal or replacement thereof
that does not increase the outstanding principal amount thereof; 
 (d) Liens on fixed or capital assets acquired, constructed or improved
by the Borrower or any Restricted Subsidiary; provided that (i) such security interests secure Indebtedness that is permitted by Section 6.1(b) or Section 6.1(i), (ii) such security interests and the
Indebtedness secured thereby are initially incurred prior to or within 180 days after such acquisition or the completion of such construction or improvement, (iii) the Indebtedness secured thereby does not exceed 100% of the cost of acquiring,
constructing or improving such fixed or capital assets and (iv) such security interests shall not apply to any other property or assets of the Borrower or any Restricted Subsidiary other than improvements thereon or proceeds thereof; 

(e) licenses, sublicenses, leases or subleases granted to others in the ordinary course of business not interfering in any material respect
with the business of the Borrower and its Restricted Subsidiaries, taken as a whole; 
 (f) the interest and title of a lessor under any
lease, license, sublease or sublicense (other than a license of sublicense of Intellectual Property) entered into by the Borrower or any Restricted Subsidiary in the ordinary course of its business and other statutory and common law landlords’
Liens under leases; 
 (g)(A) non-exclusive licenses of Intellectual Property granted to third parties by the Borrower or any of its
Restricted Subsidiaries in the ordinary course of business or pursuant to the Platform Contribution License Agreement, and (B) licenses of Intellectual Property that could not result 

  
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in a legal transfer of title of the licensed property that may be exclusive in respects other than territory and that may be exclusive as to territory only as to discrete geographical areas
outside of the United States; provided that any such license pursuant to this clause (g), (x) permits the use by (or license to) the Administrative Agent of the Intellectual Property covered thereby to permit the Administrative
Agent, on a royalty free basis, to possess, collect, receive, assemble, process, appropriate, remove, realize upon, sell, assign, convey, transfer or grant options to purchase, any Collateral, and (y) does not interfere in any material respect
with the ordinary conduct of business of the Borrower and its Restricted Subsidiaries; 
 (h) in connection with the sale or transfer of any
assets in a transaction not prohibited hereunder, customary rights and restrictions contained in agreements relating to such sale or transfer pending the completion thereof; 

(i) in the case of any joint venture, any put and call arrangements related to its Equity Interests set forth in its organizational documents
or any related joint venture or similar agreement; 
 (j) Liens securing Indebtedness to finance insurance premiums owing in the ordinary
course of business to the extent such financing is not prohibited hereunder; 
 (k) Liens on earnest money deposits of cash or Cash
Equivalents made in connection with any Acquisition not prohibited hereunder; 
 (l) bankers’ Liens, rights of setoff and other similar
Liens existing solely with respect to cash and Cash Equivalents on deposit in one or more accounts maintained by the Borrower or any Restricted Subsidiary, in each case granted in the ordinary course of business in favor of the bank or banks with
which such accounts are maintained, securing amounts owing to such bank or banks with respect to cash management and operating account arrangements; 

(m) Liens in the nature of the right of setoff in favor of counterparties to contractual agreements not otherwise prohibited hereunder with
the Borrower or any of its Restricted Subsidiaries in the ordinary course of business; 
 (n)(i) Liens securing the Obligations pursuant to
any Loan Document and (ii) Liens created pursuant to the ABL Documents; provided, that in the case of this clause (ii) such Liens are subject to the Intercreditor Agreement; and 

(o) other Liens securing obligations in an aggregate amount not to exceed $50,000,000 at any time outstanding. 

Notwithstanding the foregoing exceptions, no Loan Party shall permit FitBit International or any of its Subsidiaries or parent entities that
are not Loan Parties to, create, incur, assume or permit to exist any Lien on any property or asset now owned or hereafter acquired by it securing Indebtedness or other obligations in excess of $18,000,000 in the aggregate. 

Section 6.3 Fundamental Changes; Assets Sales; Changes in Business. 

(a) The Borrower will not, and will not permit any Restricted Subsidiary to, (x) merge into or consolidate with any other Person, or
permit any other Person to merge into or consolidate with it, (y) sell, transfer, license, lease, enter into any sale-leaseback transactions with respect to, or otherwise dispose of (in one transaction or in a series of transactions)
(A) all or substantially all of the assets of the Borrower and its Restricted Subsidiaries, taken as a whole, (B) all or substantially all of the stock of any of its Restricted Subsidiaries (in each case, whether now owned or hereafter
acquired) or (C) 

  
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any Intellectual Property, or (z) liquidate or dissolve, except that, if at the time thereof and immediately after giving effect thereto no Default or Event of Default shall have occurred
and be continuing: 
 (i) any Subsidiary or any other Person may merge into or consolidate with the Borrower in a transaction
in which the surviving entity is (x) the Borrower or (y) a corporation organized and existing under the laws of the United States of America, any State thereof or the District of Columbia, which corporation shall expressly assume, by a
written instrument in form and substance reasonably satisfactory to the Administrative Agent, all the obligations of the Borrower under the Loan Documents; 

(ii) any Person (other than the Borrower) may merge into or consolidate with any Restricted Subsidiary in a transaction in
which the surviving entity is a Restricted Subsidiary (provided that any such merger or consolidation involving a Guarantor must result in a Guarantor as the surviving entity); 

(iii) any Loan Party may sell, transfer, license lease or otherwise dispose of its assets to any other Loan Party; 

(iv) in connection with any Acquisition, any Restricted Subsidiary may merge into or with, or consolidate with any other
Person, and any other Person may merge into such Restricted Subsidiary, so long as the Person surviving such merger or consolidation shall be a Restricted Subsidiary (provided that any such merger or consolidation involving a Guarantor must
result in a Guarantor as the surviving entity); 
 (v) any Restricted Subsidiary may merge into or consolidate with any other
Person in a transaction in which such Restricted Subsidiary ceases to be a direct or indirect Subsidiary of the Borrower if such transaction is excluded from the definition of “Asset Sale” by either clause (i) or (j) thereof; 

(vi) any Restricted Subsidiary may liquidate or dissolve if the Borrower determines in good faith that such liquidation or
dissolution is in the best interests of the Borrower and is not materially disadvantageous to the Lenders; and 
 (vii) the
Borrower and any Restricted Subsidiary may license its Intellectual Property to the extent permitted by Section 6.2(g). 
 (b)
The Borrower will not, and will not permit any of its Restricted Subsidiaries to, sell, lease (as lessor or sublessor), enter into a sale and leaseback arrangement, exclusively license (as licensor or sublicensor), exchange transfer or otherwise
dispose of, in one transaction or a series of transactions, all or any party of its business, assets or property of any kind whatsoever, whether real, personal or missed and whether tangible or intangible, whether now owned or hereafter acquired,
including the Equity Interests of any of the Borrower’s Subsidiaries, except sales and other dispositions of assets that do not constitute Asset Sales. 

(c) The Borrower will not, and will not permit any of its Restricted Subsidiaries to, engage to any material extent in any business other than
businesses of the type conducted by the Borrower and its Restricted Subsidiaries on the date of execution of this Agreement and businesses reasonably related or complementary thereto. 

Section 6.4 Restricted Payments. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, declare or
make, directly or indirectly, any Restricted Payment except: 
 (a) so long as no Default or Event of Default has occurred and is continuing
or would result therefrom, Restricted Payments in an aggregate amount not to exceed the Available Amount determined at such time; 

  
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 (b) any Restricted Subsidiary of the Borrower may declare and pay dividends or make other
distributions ratably to (i) its equity holders, (ii) the Borrower or (iii) the Guarantors; 
 (c) the Borrower may make
Restricted Payments to redeem in whole or in part any of its Equity Interest for another class of its Qualified Equity Interest or rights to acquire its Qualified Equity Interest or with proceeds from substantially concurrent equity contributions or
issuances of new Qualified Equity Interest; provided that the only consideration paid for any such redemption is Qualified Equity Interest of the Borrower or the proceeds of any substantially concurrent equity contribution or issuance of
Qualified Equity Interest; 
 (d) after a Qualified IPO, the Borrower may make restricted Payments in an aggregate amount per annum not
exceeding 10% of the net cash proceeds received by the Borrower from such Qualified IPO; 
 (e) so long as no Default or Event of Default
has occurred and is continuing or would result therefrom, the Borrower may purchase, redeem or otherwise acquire its Equity Interest for aggregate consideration not in excess of $10,000,000 in any fiscal year; and 

(f) other Restricted Payments in an aggregate amount not to exceed $15,000,000. 

Section 6.5 Restrictive Agreements . The Borrower will not, and will not permit any of its Restricted Subsidiaries to, directly or
indirectly, enter into, incur or permit to exist any agreement or other arrangement that prohibits, restricts or imposes any condition upon (a) the ability of the Borrower or any Restricted Subsidiary to create, incur or permit to exist any
Lien upon any of its property or assets to secure the Obligations, or (b) the ability of any Restricted Subsidiary to pay dividends or other distributions with respect to any shares of its Equity Interests or to make or repay loans or advances
to the Borrower or any other Restricted Subsidiary or of any Restricted Subsidiary to Guarantee Indebtedness of the Borrower or any other Restricted Subsidiary under the Loan Documents; provided that (i) the foregoing shall not apply to
restrictions and conditions imposed by law or by this Agreement or any other Loan Document, (ii) the foregoing shall not apply to restrictions and conditions existing on the date hereof identified on Schedule 6.5 (and shall apply to any
extension or renewal of, or any amendment or modification materially expanding the scope of, any such restrictions or conditions taken as a whole), (iii) the foregoing shall not apply to customary restrictions and conditions contained in
agreements relating to the sale of a Restricted Subsidiary or assets of the Borrower or any Restricted Subsidiary pending such sale, provided such restrictions and conditions apply only to the Restricted Subsidiary or assets to be sold and
such sale is not prohibited hereunder, (iv) the foregoing shall not apply to any agreement or restriction or condition in effect at the time any Person becomes a Restricted Subsidiary, so long as such agreement was not entered into solely in
contemplation of such Person becoming a Restricted Subsidiary, (v) the foregoing shall not apply to customary provisions in joint venture agreements and other similar agreements applicable to joint ventures, (vi) clause (a) of the
foregoing shall not apply to restrictions or conditions imposed by any agreement relating to secured Indebtedness permitted by this Agreement if such restrictions or conditions apply only to the property or assets securing such Indebtedness,
(vii) clause (a) of the foregoing shall not apply to customary provisions in leases, licenses, sub-leases and sub-licenses and other contracts restricting the assignment thereof or restricting the grant of Liens in such lease, license,
sub-lease, sub-license or other contract, (viii) the foregoing shall not apply to restrictions or conditions set forth in any agreement governing Indebtedness of any Subsidiary that is not, and is not required to become, a Guarantor;
provided that such restrictions and conditions are customary for such 

  
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Indebtedness and are no more restrictive, taken as a whole, than the comparable restrictions and conditions set forth in this Agreement as determined in the good faith judgment of the Board of
Directors, and (ix) the foregoing shall not apply to restrictions on cash or other deposits (including escrowed funds) imposed under contracts entered into in the ordinary course of business. 

Section 6.6 Transactions with Affiliates. The Borrower will not, and will not permit any of its Restricted Subsidiaries to, sell,
lease or otherwise transfer any property or assets to, or purchase, lease or otherwise acquire any property or assets from, or otherwise engage in any other transactions with, any of its Affiliates (other than between or among the Loan Parties or
among Restricted Subsidiaries that are not Loan Parties and not involving any other Affiliate except as otherwise permitted hereunder), except (a) on terms and conditions not less favorable to the Borrower or such Restricted Subsidiary than
could be obtained on an arm’s-length basis from unrelated third parties as determined in good faith by the independent directors of the Board of Directors, (b) payment of customary directors’ fees, customary out-of-pocket expense
reimbursement, indemnities (including the provision of directors and officers insurance) and compensation arrangements for members of the board of directors, officers or other employees of the Borrower or any of its Restricted Subsidiaries and
(c) any Restricted Payment permitted by Section 6.4. 
 Section 6.7 Investments. No Loan Party shall, nor shall
it permit any of its Restricted Subsidiaries to, directly or indirectly, make or own any Investment in any Person, including any Joint Venture, except: 

(a) Investments in cash and Cash Equivalents; 

(b) Investments owned as of the Closing Date in any Restricted Subsidiary and Investments made after the Closing Date in the Borrower and any
wholly owned Restricted Subsidiary of the Borrower which is a Guarantor; 
 (c) Investments in Unrestricted Subsidiaries and Joint Ventures;
provided that such Investments (including through intercompany loans) shall not exceed at any time an aggregate amount of $75,000,000; 

(d) intercompany loans to the extent permitted under Section 6.1(d) and other Investments in Restricted Subsidiaries which are not
Guarantors; provided that such Investments (including through intercompany loans and any Acquisition) in Restricted Subsidiaries that are not Guarantors when combined with all Investments made pursuant to Section 6.7(p) shall not
exceed at any time an aggregate amount equal to the greater of (i) $100,000,000 and (ii) 15% of Consolidated Total Assets; 
 (e)
Permitted Acquisitions; 
 (f) loans and advances to employees of the Borrower and its Restricted Subsidiaries made in the ordinary course
of business in an aggregate principal amount not to exceed $2,000,000; 
 (g) Investments described in Schedule 6.7; 

(h) to the extent constituting Investments, Swap Agreements entered into in order to effectively cap, collar or exchange interest rates (from
floating to fixed rates, from one floating rate to another floating rate or otherwise) with respect to any interest-bearing liability or investment of the Borrower or any Restricted Subsidiary, or to hedge currency exposure or to hedge energy costs
or exposure, which, in any case, are not entered into for speculative purposes; 

  
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 (i) trade receivables in the ordinary course of business; 

(j) guarantees to insurers required in connection with worker’s compensation and other insurance coverage arranged in the ordinary course
of business; 
 (k) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of suppliers and
customers and in good faith settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; 

(l) intercompany Investments by any Foreign Subsidiary in any other Foreign Subsidiary; 

(m) lease, utility and other similar deposits in the ordinary course of business; 

(n) Investments of any Person in existence at the time such Person becomes a Restricted Subsidiary; provided such Investment was not
made in connection with or anticipation of such Person becoming a Restricted Subsidiary and any modification, replacement, renewal or extension thereof; 

(o) Investments in the form of non-cash consideration received in connection with dispositions of Intellectual Property (as defined in the
Security Agreement) pursuant to clause (i) of the definition of “Asset Sale”; and 
 (p) other Investments not otherwise
permitted hereunder in an aggregate amount, when combined with all Investments made pursuant to Section 6.7(d), not to exceed at any time the greater of $ 100,000,000 and 15% of the Borrower’s and its Subsidiaries’ Consolidated
Total Assets as of the last day of the period for which financial statements have been delivered pursuant to Section 5.1(a) or (b). 

For purposes of covenant compliance with this Section 6.7, the amount of any Investment shall be the amount actually invested,
without adjustment for subsequent increases or decreases in the value of such Investment, less any amount paid, repaid, returned, distributed or otherwise received in cash in respect of such Investment. 

Notwithstanding anything herein to the contrary, no Loan Party shall, nor shall it permit any of its Restricted Subsidiaries to, allow or
cause any Domestic Subsidiary to be a subsidiary of a Foreign Subsidiary (other than any Domestic Subsidiary that is an existing subsidiary of an acquired Foreign Subsidiary at the time of the Acquisition). 

Section 6.8 Use of Proceeds. The Borrower shall not, nor shall it permit any of its Subsidiaries to, directly or indirectly, use
any part of the proceeds of any Loan or Letter of Credit for (i) any purpose that entails a violation of any of the Regulations of the Board, including Regulations T, U and X or (ii) funding operations in, financing investments or
activities in, or making any payments to, a Sanctioned Person or a Sanctioned Entity. The proceeds of the Loans and Letters of Credit will be used only for ongoing working capital and general corporate purposes, including, without limitation, for
Acquisitions. 
 Section 6.9 Accounting Changes. The Borrower shall not, nor shall it permit any of its Subsidiaries to,
directly or indirectly, make any change in its (a) fiscal year or (b) accounting policies or reporting practices, except as required by GAAP. 

  
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 Section 6.10 Amendments to Operating Documents. No Loan Party shall nor shall it
permit any of its Restricted Subsidiaries to, agree to any material amendment, restatement, supplement or other modification to, or waiver of, any of its Operating Documents to the extent such amendment, restatement, supplement or other modification
would reasonably be expected to be materially adverse to the interests of the Lenders without in each case obtaining the prior written consent of Requisite Lenders to such materially adverse amendment, restatement, supplement or other modification
or waiver. 
 Section 6.11 Payments of Certain Indebtedness; Modification of Certain Agreements. 

(a) The Loan Parties shall not and shall not permit any Restricted Subsidiary to make any optional or mandatory payment, prepayment,
repurchase or redemption of, or otherwise defease the principal of or interest on, or any other amount owing in respect of any Deferred Payment Obligations or Indebtedness outstanding under any unsecured, senior subordinated or subordinated
Indebtedness of any Loan Party (including Guarantees thereof by any Loan Party), except that (i) regularly scheduled interest payments in respect of such unsecured, senior subordinated or subordinated Indebtedness of the Borrower or any
Subsidiary Guarantor may be made in accordance with and to the extent permitted by the subordination provisions applicable thereto, (ii) the Indebtedness outstanding under any unsecured, senior subordinated or subordinated Indebtedness of the
Borrower or any Subsidiary Guarantor may be prepaid in an amount not exceeding the Available Amount, in each case so long as no Default or Event of Default is continuing or would result therefrom and (iii) so long as no Default or Event of
Default shall have occurred and be continuing or would result therefrom, the Loan Parties and their Restricted Subsidiaries may make payments in respect of Deferred Payment Obligations that do not constitute subordinated Indebtedness; or 

(b) The Loan Parties shall not and shall not permit any Restricted Subsidiary to amend, modify or otherwise change, or consent or agree to any
amendment, modification, waiver or other change to (i) any of the ABL Documents other than to the extent permitted by the terms of the Intercreditor Agreement or (ii) any agreement or instrument governing or evidencing any unsecured,
senior subordinated or subordinated Indebtedness of Loan Party (including Guarantees thereof by any Loan Party) in any manner that is materially adverse to the Lenders (determined by comparison to such terms in effect on the date of creation
thereof), without the prior consent of the Administrative Agent (with approval of the Required Lenders). 
 (c) The Loan Parties
(i) shall not permit Fitbit IPCo to transfer or assign any of its rights under the Platform Contribution License Agreement to any Person other than FitBit International Holdings, any of its wholly-owned Subsidiaries or any Loan Party and
(ii) shall not permit any other Person (other than FitBit International Holdings, any of its wholly-owned Subsidiaries or any Loan Party) to succeed to the rights of FiBit IPCo under the Platform Contribution License Agreement by way of merger,
consolidation, liquidation, contribution or otherwise. 
 Section 6.12 Financial Condition Covenant. The Borrower shall not
permit the Consolidated Total Leverage Ratio as of the last day of any fiscal quarter to exceed the ratio set forth opposite such date in the table below (the “Financial Performance Covenant”): 

 

			
	Fiscal Quarter Ending	  	Consolidated Total Leverage Ratio
	 June 30, 2014
	  	3.00:1.00
	 September 30, 2014
	  	3.00:1.00
	 December 31, 2014
	  	3.00:1.00
	 March 31, 2015
	  	2.75:1.00
	 June 30, 2015
	  	2.75:1.00
	 September 30, 2015
	  	2.75:1.00

  
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	Fiscal Quarter Ending	  	Consolidated Total Leverage Ratio
	 December 31, 2015
	  	2.50:1.00
	 March 31, 2016
	  	2.50:1.00
	 June 30, 2016
	  	2.50:1.00
	 September 30, 2016
	  	2.50:1.00
	 December 31, 2016
	  	2.25:1.00
	 March 31, 2017
	  	2.25:1.00
	 June 30, 2017
	  	2.25:1.00
	 September 30, 2017
	  	2.25:1.00
	 December 31, 2017
	  	2.00:1.00
	 March 31, 2018
	  	2.00:1.00
	 June 30, 2018
	  	2.00:1.00

 Section 6.13 Anti-Terrorism Law; OFAC; Anti-Corruption. 

The Loan Parties shall not and shall not permit any Restricted Subsidiary to: 

(a) Conduct, deal in or engage in or permit any of their Affiliates or agents within its control to conduct, deal in or engage in any of the
following activities: (a) conduct any business or engage in any transaction or dealing with any person blocked pursuant to Executive Order No. 13224 (“Blocked Person”), including the making or receiving any contribution of
funds, goods or services to or for the benefit of any Blocked Person; (b) deal in, or otherwise engage in any transaction relating to, any property or interests in property blocked pursuant to Executive Order No. 13224; or (c) engage
in on conspire to engage in any transaction that evades or avoids, or has the purpose of evading or avoiding, or attempts to violate, any of the prohibitions set forth in Executive Order No. 13224 or the Patriot Act; 

(b) Use the proceeds of any Loan or Letter of Credit made hereunder to fund any operations in, finance any investments or activities in, or
make any payments to, a Sanctioned Person or a Sanctioned Entity or in any other manner that will result in any violation or breach by any Person of OFAC; or 

(c) Use any part of the proceeds of any Loan or Letter of Credit, directly or indirectly, for any payment to any governmental official or
employee, political party, official of a political party, candidate for political office, or anyone else acting in an official capacity, in order to obtain, retain or direct business or obtain any improper advantage, in violation of the United
States Foreign Corrupt Practices Act of 1977, as amended. 
 ARTICLE VII 

GUARANTY 

Section 7.1 Guaranty of the Obligations. Guarantors jointly and severally hereby irrevocably and unconditionally guaranty to the
Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or
otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) (collectively, the “Guaranteed Obligations”). 

  
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 Section 7.2 Payment by Guarantors. Guarantors hereby jointly and severally agree, in
furtherance of the foregoing and not in limitation of any other right which any Beneficiary may have at law or in equity against any Guarantor by virtue hereof, that upon the failure of the Borrower to pay any of the Guaranteed Obligations when and
as the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under Section 362(a) of the
Bankruptcy Code, 11 U.S.C. § 362(a)), Guarantors will upon demand pay, or cause to be paid, in cash, to the Administrative Agent for the ratable benefit of the Beneficiaries, an amount equal to the sum of the unpaid principal amount of all
Guaranteed Obligations then due as aforesaid, accrued and unpaid interest on such Guaranteed Obligations (including interest which, but for the Borrower’s becoming the subject of a case under the Bankruptcy Code, would have accrued on such
Guaranteed Obligations, whether or not a claim is allowed against Borrower for such interest in the related bankruptcy case) and all other Guaranteed Obligations then owed to the Beneficiaries as aforesaid. 

Section 7.3 Liability of Guarantors Absolute. Each Guarantor agrees that its obligations hereunder are irrevocable, absolute,
independent and unconditional and shall not be affected by any circumstance which constitutes a legal or equitable discharge of a guarantor or surety other than payment in full of the Guaranteed Obligations. In furtherance of the foregoing and
without limiting the generality thereof, each Guarantor agrees as follows: 
 (a) this Guaranty is a guaranty of payment when due and not of
collectability and this Guaranty is a primary obligation of each Guarantor and not merely a contract of surety; 
 (b) the Administrative
Agent may enforce this Guaranty during the continuation of an Event of Default notwithstanding the existence of any dispute between the Borrower and any Beneficiary with respect to the existence of such Event of Default; 

(c) the obligations of each Guarantor hereunder are independent of the obligations of the Borrower and the obligations of any other guarantor
(including any other Guarantor) of the obligations of the Borrower, and a separate action or actions may be brought and prosecuted against such Guarantor whether or not any action is brought against the Borrower or any of such other guarantors and
whether or not the Borrower is joined in any such action or actions; 
 (d) payment by any Guarantor of a portion, but not all, of the
Guaranteed Obligations shall in no way limit, affect, modify or abridge any Guarantor’s liability for any portion of the Guaranteed Obligations which has not been paid. Without limiting the generality of the foregoing, if the Administrative
Agent is awarded a judgment in any suit brought to enforce any Guarantor’s covenant to pay a portion of the Guaranteed Obligations, such judgment shall not be deemed to release such Guarantor from its covenant to pay the portion of the
Guaranteed Obligations that is not the subject of such suit, and such judgment shall not, except to the extent satisfied by such Guarantor, limit, affect, modify or abridge any other Guarantor’s liability hereunder in respect of the Guaranteed
Obligations; 
 (e) any Beneficiary, upon such terms as it deems appropriate under the relevant Loan Document or Secured Swap Agreement,
without notice or demand and without affecting the validity or enforceability hereof or giving rise to any reduction, limitation, impairment, discharge or termination of any Guarantor’s liability hereunder, from time to time may (i) renew,
extend, accelerate, increase the rate of interest on, or otherwise change the time, place, manner or terms of payment of the Guaranteed Obligations; (ii) settle, compromise, release or discharge, or accept or refuse any offer of performance
with respect to, or substitutions for, the Guaranteed Obligations or any agreement relating thereto and/or subordinate the payment of the same to the payment of any other obligations; (iii) request and accept other guaranties of the Guaranteed
Obligations and take and hold security for the payment hereof or the 

  
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Guaranteed Obligations; (iv) release, surrender, exchange, substitute, compromise, settle, rescind, waive, alter, subordinate or modify, with or without consideration, any security for
payment of the Guaranteed Obligations, any other guaranties of the Guaranteed Obligations, or any other obligation of any Person (including any other Guarantor) with respect to the Guaranteed Obligations; (v) enforce and apply any security now
or hereafter held by or for the benefit of such Beneficiary in respect hereof or the Guaranteed Obligations and direct the order or manner of sale thereof, or exercise any other right or remedy that such Beneficiary may have against any such
security, in each case as such Beneficiary in its discretion may determine consistent herewith or any applicable Secured Swap Agreement and any applicable security agreement, including foreclosure on any such security pursuant to one or more
judicial or nonjudicial sales, whether or not every aspect of any such sale is commercially reasonable, and even though such action operates to impair or extinguish any right of reimbursement or subrogation or other right or remedy of any Guarantor
against any other Loan Party or any security for the Guaranteed Obligations; and (vi) exercise any other rights available to it under the Loan Documents or any Secured Swap Agreement; and 

(f) this Guaranty and the obligations of Guarantors hereunder shall be valid and enforceable and shall not be subject to any reduction,
limitation, impairment, discharge or termination for any reason (other than payment in full of the Guaranteed Obligations (other than contingent indemnification obligations for which no claim has been made, Obligations in respect of Secured Swap
Agreements and the cancellation or expiration or cash collateralization of all Letters of Credit in an amount equal to 105% of Letter of Credit Usage at such time on terms reasonably satisfactory to Issuing Bank)), including the occurrence of any of
the following, whether or not any Guarantor shall have had notice or knowledge of any of them: (i) any failure or omission to assert or enforce or agreement or election not to assert or enforce, or the stay or enjoining, by order of court, by
operation of law or otherwise, of the exercise or enforcement of, any claim or demand or any right, power or remedy (whether arising under the Loan Documents, any Secured Swap Agreements, at law, in equity or otherwise) with respect to the
Guaranteed Obligations or any agreement relating thereto, or with respect to any other guaranty of or security for the payment of the Guaranteed Obligations; (ii) any rescission, waiver, amendment or modification of, or any consent to departure
from, any of the terms or provisions (including provisions relating to events of default) hereof, any of the other Loan Documents, any Secured Swap Agreements or any agreement or instrument executed pursuant thereto, or of any other guaranty or
security for the Guaranteed Obligations, in each case whether or not in accordance with the terms hereof or such Loan Document, such Secured Swap Agreement or any agreement relating to such other guaranty or security; (iii) the Guaranteed
Obligations, or any agreement relating thereto, at any time being found to be illegal, invalid or unenforceable in any respect; (iv) the application of payments received from any source (other than payments received pursuant to the other Loan
Documents, any Secured Swap Agreements or from the proceeds of any security for the Guaranteed Obligations, except to the extent such security also serves as collateral for indebtedness other than the Guaranteed Obligations) to the payment of
indebtedness other than the Guaranteed Obligations, even though any Beneficiary might have elected to apply such payment to any part or all of the Guaranteed Obligations; (v) any Beneficiary’s consent to the change, reorganization or
termination of the corporate structure or existence of the Borrower or any of its Restricted Subsidiaries and to any corresponding restructuring of the Guaranteed Obligations; (vi) any failure to perfect or continue perfection of a security
interest in any collateral which secures any of the Guaranteed Obligations; (vii) any defenses, set offs or counterclaims which the Borrower may allege or assert against any Beneficiary in respect of the Guaranteed Obligations, including
failure of consideration, breach of warranty, payment, statute of frauds, statute of limitations, accord and satisfaction and usury; and (viii) any other act or thing or omission, or delay to do any other act or thing, which may or might in any
manner or to any extent vary the risk of any Guarantor as an obligor in respect of the Guaranteed Obligations. 

  
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 Anything contained in this Agreement to the contrary notwithstanding, the obligations of each
Guarantor under this Agreement shall be limited to an aggregate amount equal to the largest amount that would not render its obligations under this Agreement subject to avoidance as a fraudulent transfer or conveyance under Section 548 of the
Bankruptcy Code of the United States or any comparable provisions of any similar federal or state law. 
 Section 7.4 Waivers by
Guarantors. Each Guarantor hereby waives, for the benefit of the Beneficiaries: (a) any right to require any Beneficiary, as a condition of payment or performance by such Guarantor, to (1) proceed against the Borrower, any other
guarantor (including any other Guarantor) of the Guaranteed Obligations or any other Person, (2) proceed against or exhaust any security held from the Borrower, any such other guarantor or any other Person, (3) proceed against or have
resort to any balance of any deposit account or credit on the books of any Beneficiary in favor of any Loan Party or any other Person, or (4) pursue any other remedy in the power of any Beneficiary whatsoever; (b) any defense arising by
reason of the incapacity, lack of authority or any disability or other defense of the Borrower or any other Guarantor including any defense based on or arising out of the lack of validity or the unenforceability of the Guaranteed Obligations or any
agreement or instrument relating thereto or by reason of the cessation of the liability of the Borrower or any other Guarantor from any cause other than payment in full of the Guaranteed Obligations; (c) any defense based upon any statute or
rule of law which provides that the obligation of a surety must be neither larger in amount nor in other respects more burdensome than that of the principal; (d) any defense based upon any Beneficiary’s errors or omissions in the
administration of the Guaranteed Obligations, except behavior which amounts to bad faith, gross negligence or willful misconduct; (e) (i) any principles or provisions of law, statutory or otherwise, which are or might be in conflict with
the terms hereof and any legal or equitable discharge of such Guarantor’s obligations hereunder, (ii) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement hereof, (iii) any
rights to set offs, recoupments and counterclaims, (iv) promptness, diligence and any requirement that any Beneficiary protect, secure, perfect or insure any security interest or lien or any property subject thereto, and (v) notices,
demands, presentments, protests, notices of protest, notices of dishonor and notices of any action or inaction, including acceptance hereof, notices of default hereunder, the Secured Swap Agreements or any agreement or instrument related thereto,
notices of any renewal, extension or modification of the Guaranteed Obligations or any agreement related thereto, notices of any extension of credit to the Borrower and notices of any of the matters referred to in Section 7.3 and any
right to consent to any thereof; and (f) any defenses or benefits that may be derived from or afforded by law which limit the liability of or exonerate guarantors or sureties, or which may conflict with the terms hereof, in each case other than
the indefeasible payment in full of the Guaranteed Obligations. 
 Section 7.5 Guarantors’ Rights of Subrogation, Contribution,
Etc. Until the Guaranteed Obligations shall have been paid in full (other than contingent indemnification obligations for which no claim has been made and Obligations under or in respect of Secured Swap Agreements) and the Commitments shall have
terminated, each Guarantor hereby waives any claim, right or remedy, direct or indirect, that such Guarantor now has or may hereafter have against the Borrower or any other Guarantor or any of its assets in connection with this Guaranty or the
performance by such Guarantor of its obligations hereunder, in each case whether such claim, right or remedy arises in equity, under contract, by statute, under common law or otherwise and including (i) any right of subrogation, reimbursement
or indemnification that such Guarantor now has or may hereafter have against the Borrower with respect to the Guaranteed Obligations, (ii) any right to enforce, or to participate in, any claim, right or remedy that any Beneficiary now has or
may hereafter have against the Borrower, and (iii) any benefit of, and any right to participate in, any collateral or security now or hereafter held by any Beneficiary. In addition, until the Guaranteed Obligations shall have been paid in full
(other than contingent indemnification obligations for which no claim has been made, Obligations under or in respect of Secured Swap Agreements and the cancellation or expiration or cash collateralization of all Letters of Credit in an

  
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amount equal to 105% of Letter of Credit Usage at such time on terms reasonably satisfactory to the Issuing Bank) and the Commitments shall have terminated, each Guarantor shall withhold exercise
of any right of contribution such Guarantor may have against any other guarantor (including any other Guarantor) of the Guaranteed Obligations. Each Guarantor further agrees that, to the extent the waiver or agreement to withhold the exercise of its
rights of subrogation, reimbursement, indemnification and contribution as set forth herein is found by a court of competent jurisdiction to be void or voidable for any reason, any rights of subrogation, reimbursement or indemnification such
Guarantor may have against the Borrower or against any collateral or security, and any rights of contribution such Guarantor may have against any such other guarantor, shall be junior and subordinate to any rights any Beneficiary may have against
the Borrower, to all right, title and interest any Beneficiary may have in any such collateral or security, and to any right any Beneficiary may have against such other guarantor. If any amount shall be paid to any Guarantor on account of any such
subrogation, reimbursement, indemnification or contribution rights at any time when all Guaranteed Obligations (other than contingent indemnification obligations for which no claim has been made and Obligations under or in respect of Secured Swap
Agreements) shall not have been paid in full, such amount shall be held in trust for the Administrative Agent on behalf of the Beneficiaries and shall forthwith be paid over to the Administrative Agent for the benefit of the Beneficiaries to be
credited and applied against the Guaranteed Obligations, whether matured or unmatured, in accordance with the terms hereof. 

Section 7.6 Subrogation of Other Obligations. Any Indebtedness of the Borrower or any Guarantor now or hereafter held by any
Guarantor (the “Obligee Guarantor”) is hereby subordinated in right of payment to the Guaranteed Obligations, and any such Indebtedness collected or received by the Obligee Guarantor after an Event of Default has occurred and is
continuing shall be held in trust for the Administrative Agent on behalf of the Beneficiaries and shall forthwith be paid over to the Administrative Agent for the benefit of the Beneficiaries to be credited and applied against the Guaranteed
Obligations but without affecting, impairing or limiting in any manner the liability of the Obligee Guarantor under any other provision hereof. 

Section 7.7 Continuing Guaranty. This Guaranty is a continuing guaranty and shall remain in effect until all of the Guaranteed
Obligations shall have been paid in full and the Commitments shall have terminated and all Letters of Credit shall have expired or been cancelled or cash collateralized in an amount equal to 105% of Letter of Credit Usage at such time. Each
Guarantor hereby irrevocably waives any right to revoke this Guaranty as to future transactions giving rise to any Guaranteed Obligations. 

Section 7.8 Authority of Guarantors or the Borrower. It is not necessary for any Beneficiary to inquire into the capacity or
powers of any Guarantor or the Borrower or the officers, directors or any agents acting or purporting to act on behalf of any of them. 

Section 7.9 Financial Condition of the Borrower. Any Loan may be made to the Borrower or continued from time to time and any
Secured Swap Agreement may be entered into from time to time, in each case without notice to or authorization from any Guarantor regardless of the financial or other condition of the Borrower at the time of any such grant or continuation or at the
time such Secured Swap Agreement is entered into, as the case may be. No Beneficiary shall have any obligation to disclose or discuss with any Guarantor its assessment, or any Guarantor’s assessment, of the financial condition of the Borrower.
Each Guarantor has adequate means to obtain information from the Borrower on a continuing basis concerning the financial condition of the Borrower and its ability to perform its obligations under the Loan Documents and the Secured Swap Agreements,
and each Guarantor assumes the responsibility for being and keeping informed of the financial condition of the Borrower and of all circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations. Each Guarantor hereby waives and
relinquishes any duty on the part of any Beneficiary to disclose any matter, fact or thing relating to the business, operations or conditions of the Borrower now known or hereafter known by any Beneficiary. 

  
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 Section 7.10 Bankruptcy, Etc. So long as any Guaranteed Obligations remain
outstanding, no Guarantor shall, without the prior written consent of the Administrative Agent acting pursuant to the instructions of Required Lenders, commence or join with any other Person in commencing any bankruptcy, reorganization or insolvency
case or proceeding of or against the Borrower or any other Guarantor. The obligations of Guarantors hereunder shall not be reduced, limited, impaired, discharged, deferred, suspended or terminated by any case or proceeding, voluntary or involuntary,
involving the bankruptcy, insolvency, receivership, reorganization, liquidation or arrangement of the Borrower or any other Guarantor or by any defense which the Borrower or any other Guarantor may have by reason of the order, decree or decision of
any court or administrative body resulting from any such proceeding. 
 (b) Each Guarantor acknowledges and agrees that any interest on any
portion of the Guaranteed Obligations which accrues after the commencement of any case or proceeding referred to in clause (a) above (or, if interest on any portion of the Guaranteed Obligations ceases to accrue by operation of law by reason of
the commencement of such case or proceeding, such interest as would have accrued on such portion of the Guaranteed Obligations if such case or proceeding had not been commenced) shall be included in the Guaranteed Obligations because it is the
intention of Guarantors and the Beneficiaries that the Guaranteed Obligations which are guaranteed by Guarantors pursuant hereto should be determined without regard to any rule of law or order which may relieve the Borrower of any portion of such
Guaranteed Obligations. Guarantors will permit any trustee in bankruptcy, receiver, debtor in possession, assignee for the benefit of creditors or similar Person to pay the Administrative Agent, or allow the claim of the Administrative Agent in
respect of, any such interest accruing after the date on which such case or proceeding is commenced. 
 (c) In the event that all or any
portion of the Guaranteed Obligations are paid by the Borrower, the obligations of Guarantors hereunder shall continue and remain in full force and effect or be reinstated, as the case may be, in the event that all or any part of such payment(s) are
rescinded or recovered directly or indirectly from any Beneficiary as a preference, fraudulent transfer or otherwise, and any such payments which are so rescinded or recovered shall constitute Guaranteed Obligations for all purposes hereunder. 

Section 7.11 Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely, unconditionally and irrevocably
undertakes to provide such funds or other support as may be needed from time to time by each other Loan Party to honor all of its obligations under this Guaranty in respect of Obligations under Secured Swap Agreements (provided that, each Qualified
ECP Guarantor shall only be liable under this 7.11 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 7.11 or otherwise under this Guaranty, voidable under
applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section 7.11 shall remain in full force and effect until the Guaranteed
Obligations have been paid in full in cash and all Commitments have terminated. Each Qualified ECP Guarantor intends that this Section 7.11 constitute, and this Section 7.11 shall be deemed to constitute, a “keepwell,
support, or other agreement” for the benefit of each other Loan Party for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.” 

  
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 ARTICLE VIII 

EVENTS OF DEFAULT 

Section 8.1 Events of Default. 

If any of the following events (each, an “Event of Default”) shall occur: 

(a) the Borrower shall fail to pay any principal of any Loan when and as the same shall become due and payable and any amount due and payable
to Issuing Bank in reimbursement of any drawing under any Letter of Credit, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount referred to in clause
(a) of this Section 8.1) payable under any of the Loan Documents, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five Business Days; 

(c) any representation or warranty made or deemed made by or on behalf of the Borrower or any Subsidiary in or in connection with this
Agreement or any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, or in any report, certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement, any other Loan Document or any amendment or modification hereof or thereof or waiver hereunder or thereunder, shall prove to have been incorrect in any material respect when made or deemed made (other than to the extent qualified by
materiality or “Material Adverse Effect”, in which case, such representation or warranty shall prove to have been incorrect in any respect); 

(d) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in Section 5.2,
Section 5.3 (solely with respect to such Loan Party’s existence), Section 5.9, Section 5.10, Section 5.11, Section 5.13, Section 5.15 or in Article VI; 

(e) any Loan Party shall fail to observe or perform any covenant, condition or agreement contained in any of the Loan Documents (other than
those specified in clause (a), (b) or (d) of this Section 8.1), and such failure shall continue unremedied for a period of 30 days after the earlier of (i) a Responsible Officer of such Loan Party becoming aware of such
failure and (ii) notice thereof from the Administrative Agent to the Borrower (which notice will be given at the request of any Lender); 

(f) the Borrower or any Subsidiary shall fail to make any payment (whether of principal or interest and regardless of amount) in respect of
any Material Indebtedness, when and as the same shall become due and payable (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) and such failure shall have continued after the applicable grace period, if any;

 (g) any event or condition occurs that results in any Material Indebtedness becoming due prior to its scheduled maturity or that enables
or permits (with or without the giving of notice, the lapse of time or both) the holder or holders of any Material Indebtedness or any trustee or agent on its or their behalf to cause any Material Indebtedness to become due, or to require the
prepayment, repurchase, redemption or defeasance thereof, prior to its scheduled maturity; provided that this clause (g) shall not apply to secured Indebtedness that becomes due as a result of the voluntary sale or transfer permitted
hereunder of the property or assets securing such Indebtedness; 

  
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 (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed
seeking (i) liquidation, reorganization or other relief in respect of the Borrower or any Subsidiary or its debts, or of a substantial part of its assets, under any Debtor Relief Law or (ii) the appointment of a receiver, trustee,
custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree
approving or ordering any of the foregoing shall be entered; 
 (i) the Borrower or any Subsidiary shall (i) voluntarily commence any
proceeding or file any petition seeking liquidation, reorganization or other relief under any Debtor Relief Law, (ii) consent to the institution of, or fail to contest in a timely and appropriate manner, any proceeding or petition described in
clause (h) of this Section 8.1, (iii) apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Subsidiary or for a substantial part of its
assets, (iv) file an answer admitting the material allegations of a petition filed against it in any such proceeding, (v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose of effecting any
of the foregoing; 
 (j) the Borrower or any Subsidiary shall become unable, admit in writing its inability or fail generally to pay its
debts as they become due; 
 (k)(i) one or more judgments for the payment of money in excess of $5,000,000 in the aggregate shall be
rendered against the Borrower, any Subsidiary or any combination thereof (to the extent not paid or covered by a reputable and solvent independent third-party insurance company which has not disputed coverage) and the same shall remain undischarged
for a period of 30 consecutive days during which execution shall not be effectively stayed (or an action of similar effect in any jurisdiction outside the U.S.), or any action shall be legally taken by a judgment creditor to attach or levy upon any
assets of the Borrower or any Subsidiary to enforce any such judgment and such action shall not be stayed (or an action of similar effect in any jurisdiction outside the U.S.) or (ii) any non-monetary judgment, writ or warrant of attachment or
similar process shall be entered or filed against the Borrower, any Subsidiary or any combination thereof or any of their respective assets and shall remain undischarged, unvacated, unbonded or unstayed (or an action of similar effect in any
jurisdiction outside the U.S.) for a period of 30 consecutive days and such non-monetary judgment, writ, warrant of attachment or similar process would reasonably be expected to have a Material Adverse Effect; 

(l) one or more ERISA Events shall have occurred; 

(m) a Change in Control shall occur; or 

(n)(i) any Loan Document, at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or
thereunder or satisfaction in full of all the obligations hereunder or thereunder, ceases to be in full force and effect; or any Loan Party contests in any manner the validity or enforceability of any Loan Document, (ii) the Collateral Agent
shall not have or shall cease to have a valid and perfected Lien in any material portion of the Collateral purported to be covered by the Collateral Documents with the priority required by the relevant Collateral Document for any reason other than
the failure of the Collateral Agent or any Secured Party to take any action within its control or (iii) any Loan Party shall contest in any manner the validity or perfection of any Lien in any material portion of the Collateral purported to be
covered by the Collateral Documents; 
 then, and in every such event (other than an event with respect to the Borrower described in
Section 8.1(h) or (i) of this Section), and at any time thereafter during the continuance of such event, the Administrative Agent may, and at the request of the Required Lenders shall, by notice to the Borrower,

  
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take any or all of the following actions, at the same or different times: (i) terminate the Commitments and the obligation of Issuing Bank to issue any Letters of Credit, and thereupon the
Commitments and such obligations shall terminate immediately, (ii) the Administrative Agent may cause the Collateral Agent to enforce any and all Liens and security interests created pursuant to the Collateral Documents, (iii) direct the
Borrower to pay (and the Borrower hereby agrees upon receipt of such notice, or upon the occurrence of any Event of Default specified in Section 8.1(h) or (i) to pay) to the Administrative Agent such additional amounts of
cash as reasonably requested by Issuing Bank, to be held as security for the Borrower’s reimbursement Obligations in respect of Letters of Credit then outstanding as set forth in Section 2.4(i) and (iv) declare the Loans then
outstanding to be due and payable in whole (or in part, in which case any principal not so declared to be due and payable may thereafter be declared to be due and payable), and thereupon the principal of the Loans so declared to be due and payable,
together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder (including any amounts required to be deposited in respect of Letters of Credit pursuant to Section 2.4(i)), shall become due and
payable immediately, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower; and in case of any event with respect to the Borrower described in Section 8.1(h) or
(i) of this Section, the Commitments shall automatically terminate and the principal of the Loans then outstanding, together with accrued interest thereon and all fees and other obligations of the Borrower accrued hereunder, shall
automatically become due and payable, without presentment, demand, protest or other notice of any kind, all of which are hereby waived by the Borrower. 

Section 8.2 Right to Cure. 

(a) Notwithstanding anything to the contrary contained in Section 8.1, in the event that the Borrower shall fail to comply with the
requirements of the Financial Performance Covenant as of the last day of any fiscal quarter, at any time after the end of such fiscal quarter until the expiration of the 10th Business Day
subsequent to the earlier of (i) the date on which a Compliance Certificate with respect to such fiscal quarter (or the fiscal year ended on the last day of such fiscal quarter) is delivered in accordance with Section 5.1(c) and
(ii) the date on which the financial statements with respect to such fiscal quarter (or the fiscal year ended on the last day of such fiscal quarter) are required to be delivered pursuant to Section 5.1(a) or (b), as applicable, the
Borrower shall have the right to issue Qualified Equity Interests for cash or otherwise receive cash contributions to the capital of the Borrower for Qualified Equity Interests (collectively, the “Cure Right”), and upon the receipt
by the Borrower of the net cash proceeds of such issuance (the “ Cure Amount”) pursuant to the exercise by the Borrower of such Cure Right the Financial Performance Covenant shall be recalculated giving effect to the following pro
forma adjustment: 
 (i) Consolidated Adjusted EBITDA shall be increased with respect to such applicable fiscal quarter and
any four fiscal quarter period that contains such fiscal quarter, solely for the purpose of measuring the Financial Performance Covenant and not for any other purpose under this Agreement, by an amount equal to the Cure Amount; and 

(ii) if, after giving effect to the foregoing pro forma adjustment (without giving effect to any repayment of any Indebtedness
with any portion of the Cure Amount or any portion of the Cure Amount on the balance sheet of the Borrower and the Restricted Subsidiaries (in each case, with respect to such fiscal quarter only)), the Borrower and the Restricted Subsidiaries shall
then be in compliance with the requirements of the Financial Performance Covenant, the Borrower shall be deemed to have satisfied the requirements of the Financial Performance Covenant as of the relevant date of determination with the same effect as
though there had been no failure to comply therewith at such date, and the applicable breach or Default or Event of Default of the Financial Performance Covenant that had occurred shall be deemed cured for the purposes of this Agreement. 

  
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 (b) Notwithstanding anything herein to the contrary, (i) in each four consecutive fiscal
quarter period of the Borrower there shall be at least two fiscal quarters in which the Cure Right is not exercised, (ii) during the term of this Agreement, the Cure Right shall not be exercised more than four times and (iii) for purposes
of this Section 8.2, the Cure Amount shall be no greater than the amount required for purposes of complying with the Financial Performance Covenant and any amounts in excess thereof shall not be deemed to be a Cure Amount.
Notwithstanding any other provision in this Agreement to the contrary, the Cure Amount received pursuant to any exercise of the Cure Right shall be disregarded for all other purposes, such as for purposes of determining the applicable Commitment Fee
Rate and for purposes of determining any available basket under Article VI of this Agreement. For the avoidance of doubt, in the event that the Borrower shall fail to comply with the requirements of the Financial Performance Covenant as of
the last day of any fiscal quarter, an Event of Default shall occur as of such day unless and until such breach is cured pursuant to this Section 8.2. 

Section 8.3 Application of Proceeds. At the request of the Required Lenders after the occurrence and during the continuance of an
Event of Default and upon the exercise of remedies provided for in Section 8.2, any amounts received by any Agent on account of the Obligations (whether payments or proceeds of Collateral) shall be applied by such Agent in the following
order: 
 First, to the payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (other
than principal and interest but including any expenses incurred in connection with the exercise of remedies against any Loan Party or the Collateral, fees, charges and disbursements of counsel to any Agent and amounts payable under Sections
2.14, 2.15 and 2.16) payable to any Agent in its capacity as such (including interest thereon); 
 Second, to the
payment of that portion of the Obligations constituting interest and principal in respect of Swing Lien Loans and unreimbursed Letter of Credit drawings, in each case, which have not yet been converted into Revolving Loans, ratably among the Issuing
Bank and Swing Line Lender in proportion to the respective amounts described in this clause Second payable to them; 
 Third,
to payment of that portion of the Obligations constituting fees, indemnities and other amounts (other than principal, interest and Letter of Credit fees payable under Section 2.11(c)) payable to the Lenders or the Issuing Bank (including
any Letter of Credit fronting fees and Issuing Bank fees payable under Section 2.11(d) and the reasonable fees, charges and disbursements of counsel to the respective Lenders and the Issuing Bank and amounts payable under Sections
2.14, 2.15 and 2.16), in each case, ratably among them in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Obligations constituting accrued and unpaid Letter of Credit fees payable under
Section 2.11(c) and interest on the Loans, in each case, ratably among the Lenders in proportion to the respective amounts described in this clause Fourth payable to them; 

Fifth, to payment of that portion of the Obligations constituting unpaid principal of the Revolving Loans ratably among the Lenders in
proportion to the respective amounts described in this clause Fifth held by them; 
 Sixth, to the Issuing Bank, to cash
collateralize that portion of the Letter of Credit Usage comprised of the aggregate undrawn amount of Letters of Credit pursuant to Section 2.4(i); 

  
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 Seventh, to the payment of all other Obligations of the Loan Parties that are then due and
payable to the Administrative Agent and the other Secured Parties on such date, in each case, ratably among them in proportion to the respective aggregate amounts of all such Obligations owing to the Administrative Agent and the other Secured
Parties on such date; 
 Eighth, for the account of any applicable Lender Counterparty, to cash collateralize Obligations arising
under any then outstanding Secured Swap Agreements, in each case, ratably among them in proportion to the respective amounts described in this clause Eighth payable to them; and 

Last, the balance, if any, after all of the Obligations have been indefeasibly paid in full (excluding, for this purpose, any
Obligations which have been cash collateralized in accordance with the terms hereof), to the Borrower or as otherwise in accordance with any Requirement of Law. 

Subject to Sections 2.4 and 2.21, amounts used to cash collateralize the aggregate undrawn amount of Letters of Credit pursuant
to clause Sixth above shall be applied to satisfy drawings under such Letters of Credit as they occur. If any amount remains on deposit as cash collateral (whether for Letters of Credit after all Letters of Credit have either been fully drawn
or expired, or for Obligations in respect of any Secured Swap Agreements after all such agreements have been terminated), such remaining amount shall be applied to the other Obligations, if any, in the order set forth above, and, if any amount then
remains on deposit, it shall be promptly distributed to the Borrower. 
 ARTICLE IX 

THE AGENT 
 Each of the
Lenders (including in its capacity as a potential counterparty under a Secured Swap Agreement), Secured Party and Issuing Bank hereby irrevocably appoints Morgan Stanley Senior Funding, Inc. as the Administrative Agent and Collateral Agent (and
Morgan Stanley Senior Funding, Inc. hereby accepts such appointment) and authorizes the Administrative Agent and the Collateral Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent and the
Collateral Agent by the terms hereof, together with such actions and powers as are reasonably incidental thereto. Except, in each case, as set forth in the sixth paragraph of this Article, the provisions of this Article are solely for the benefit of
the Agent and the Lenders, and the Borrower shall not have rights as a third party beneficiary of any of such provisions. 
 The Person
serving as the Agent hereunder shall have the same rights and powers in its capacity as a Lender as any other Lender and may exercise the same as though it were not the Agent and the term “Lender” or “Lenders”
shall, unless otherwise expressly indicated or unless the context otherwise requires, include the Person serving as the Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to and generally
engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if it were not the Agent hereunder and without any duty to account therefor to the Lenders. 

The Agent shall not have any duties or obligations except those expressly set forth herein and in the other Loan Documents. Without limiting
the generality of the foregoing, the Agent: (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) shall not have any duty to take any discretionary action or
exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan Documents that the Agent is required to exercise in writing as directed by the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section 10.2 or in the other Loan Documents); provided that the Agent shall not be required to take any

  
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action that, in its opinion or the opinion of its counsel, may expose the Agent to liability or that is contrary to any Loan Document or applicable law, including for the avoidance of doubt any
action that may be in violation of the automatic stay under any Debtor Relief Law or that may affect a forfeiture, modification or termination of property of a Defaulting Lender in violation of any Debtor Relief Law, and (c) shall not, except as
expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Affiliates that is communicated to or obtained by the
Person serving as Agent or any of its Affiliates in any capacity. The Agent shall not be liable for any action taken or not taken by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the
Lenders as shall be necessary under the circumstances as provided in Section 10.2) or (ii) in the absence of its own gross negligence or willful misconduct. The Agent shall be deemed not to have knowledge of any Default unless and
until written notice thereof is given to the Agent by the Borrower or a Lender, and the Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in or in connection with
this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the covenants, agreements or other terms
or conditions set forth herein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any other agreement, instrument or document, or (v) the
satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Agent. 

The Agent shall be entitled to rely upon, and shall not incur any liability for relying upon, any notice, request, certificate, consent,
statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and to have been signed or sent by the proper Person. The Agent also may
rely upon any statement made to it orally or by telephone and believed by it to be made by the proper Person, and shall not incur any liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan, that
by its terms must be fulfilled to the satisfaction of a Lender, the Agent may presume that such condition is satisfactory to such Lender unless the Agent shall have received notice to the contrary from such Lender prior to the making of such Loan.
The Agent may consult with legal counsel (who may be counsel for the Borrower), independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such
counsel, accountants or experts. 
 The Agent may perform any and all of its duties and exercise its rights and powers by or through any one
or more sub-agents appointed by the Agent. The Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall
apply to any such sub-agent and to the Related Parties of the Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as
Agent. 
 The Administrative Agent shall have the right to resign at any time by giving prior written notice thereof to the Lenders and the
Borrower. The Administrative Agent shall have the right to appoint a financial institution to act as the Administrative Agent and/or the Collateral Agent hereunder, subject to the reasonable satisfaction of the Borrower and the Required Lenders, and
the Administrative Agent’s resignation shall become effective on the earliest of (i) 30 days after delivery of the notice of resignation, (ii) the acceptance of such successor Administrative Agent by the Borrower and the Required
Lenders or (iii) such other date, if any, agreed to by the Borrower and the Required Lenders. Upon any such notice of resignation, if a successor Administrative Agent has not already been appointed by the retiring Administrative Agent, the
Required Lenders shall have the right, in consultation with the Borrower, to appoint a successor Administrative Agent. If neither the Required Lenders nor the 

  
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Administrative Agent have appointed a successor Administrative Agent, the Required Lenders shall be deemed to have succeeded to and become vested with all the rights, powers, privileges and
duties of the retiring Administrative Agent; provided that, until a successor Administrative Agent is so appointed by the Required Lenders or the Administrative Agent, any collateral security held by the Administrative Agent in its role as
the Collateral Agent on behalf of the Lenders and Issuing Bank under any of the Loan Documents shall continue to be held by the retiring Collateral Agent as nominee until such time as a successor Collateral Agent is appointed. Any successor
Administrative Agent shall be a bank with an office in the United States or an Affiliate of any such bank with an office in the United States. Upon the acceptance of any appointment as Administrative Agent hereunder by a successor Administrative
Agent, that successor Administrative Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring or removed Administrative Agent and the retiring or removed Administrative Agent shall
promptly (x) transfer to such successor Administrative Agent all sums, securities and other items of Collateral held under the Collateral Documents, together with all records and other documents necessary or appropriate in connection with the
performance of the duties of the successor Administrative Agent under the Loan Documents, and (y) execute and deliver to such successor Administrative Agent such amendments to financing statements, and take such other actions, as may be
necessary or appropriate in connection with the assignment to such successor Administrative Agent of the security interests created under the Collateral Documents, whereupon such retiring or removed Administrative Agent shall be discharged from its
duties and obligations hereunder. Except as provided above, any resignation of Morgan Stanley Senior Funding, Inc. or its successor as the Administrative Agent pursuant to this Article shall also constitute the resignation of Morgan Stanley Senior
Funding, Inc. or its successor as the Collateral Agent. After any retiring Administrative Agent’s resignation hereunder as Administrative Agent, the provisions of this Article IX shall inure to its benefit as to any actions taken or
omitted to be taken by it while it was Administrative Agent hereunder. Any successor Administrative Agent appointed pursuant to this Article IX shall, upon its acceptance of such appointment, become the successor Collateral Agent for all
purposes hereunder. 
 In addition to the foregoing, the Collateral Agent may resign at any time by giving prior written notice thereof to
the Lenders and the Grantors. The Administrative Agent shall have the right to appoint a financial institution as the Collateral Agent hereunder, subject to the reasonable satisfaction of the Borrower and the Required Lenders and the Collateral
Agent’s resignation shall become effective on the earliest of (i) 30 days after delivery of the notice of resignation, (ii) the acceptance of such successor Collateral Agent by the Borrower and the Required Lenders or (iii) such
other date, if any, agreed to by the Required Lenders and the Borrower. Upon any such notice of resignation, the Required Lenders shall have the right, upon five Business Days’ notice to the Administrative Agent and in consultation with the
Borrower, to appoint a successor Collateral Agent. Until a successor Collateral Agent is so appointed by the Required Lenders or the Administrative Agent, any collateral security held by the Collateral Agent on behalf of the Lenders and Issuing Bank
under any of the Loan Documents shall continue to be held by the retiring Collateral Agent as nominee until such time as a successor Collateral Agent is appointed. Upon the acceptance of any appointment as the Collateral Agent hereunder by a
successor Collateral Agent, that successor Collateral Agent shall thereupon succeed to and become vested with all the rights, powers, privileges and duties of the retiring Collateral Agent under this Agreement and the Collateral Documents, and the
retiring Collateral Agent under this Agreement shall promptly (x) transfer to such successor Collateral Agent all sums, securities and other items of Collateral held hereunder or under the Collateral Documents, together with all records and
other documents necessary or appropriate in connection with the performance of the duties of the successor Collateral Agent under this Agreement and the Collateral Documents, and (y) execute and deliver to such successor Collateral Agent or
otherwise authorize the filing of such amendments to financing statements, and take such other actions, as may be necessary or appropriate in connection with the assignment to such successor Collateral Agent of the security interests created under
the Collateral Documents, whereupon such retiring Collateral Agent shall be discharged from its duties and obligations under this Agreement and the Collateral Documents. After any retiring 

  
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Collateral Agent’s resignation or removal hereunder as the Collateral Agent, the provisions of this Agreement and the Collateral Documents shall inure to its benefit as to any actions taken
or omitted to be taken by it under this Agreement or the Collateral Documents while it was the Collateral Agent hereunder. 
 Any
resignation of Morgan Stanley Senior Funding, Inc. or its successor as the Administrative Agent pursuant to this Article IX shall also constitute the resignation of Morgan Stanley Bank, N.A. or its successor as Swing Line Lender, and any
successor Administrative Agent appointed pursuant to this Section shall, upon its acceptance of such appointment, become the successor Swing Line Lender for all purposes hereunder. In such event (i) the Borrower shall prepay any outstanding
Swing Line Loans made by the retiring or removed Administrative Agent in its capacity as Swing Line Lender, (ii) upon such prepayment, the retiring or removed Administrative Agent and Swing Line Lender shall surrender any Swing Line Note held
by it to the Borrower for cancellation, and (iii) the Borrower shall issue, if so requested by successor Administrative Agent and Swing Line Lender, a new Swing Line Note to the successor Administrative Agent and Swing Line Lender, in the
principal amount of the Swing Line Loan Sublimit then in effect and with other appropriate insertions. 
 Each Lender acknowledges that it
has, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this
Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Agent or any other Lender or any of their Related Parties and based on such documents and information as it shall from time to time deem appropriate,
continue to make its own decisions in taking or not taking action under or based upon this Agreement, any other Loan Document or any related agreement or any document furnished hereunder or thereunder. 

Anything herein to the contrary notwithstanding, none of the Joint Bookrunners or Co-Syndication Agents shall have any powers, duties or
responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the Agent or a Lender hereunder. 

Each Secured Party hereby authorizes the Administrative Agent or the Collateral Agent, as applicable, on behalf of and for the benefit of the
Secured Parties, to be the agent for and representative of the Secured Parties with respect to the Guaranty, the Collateral and the Collateral Documents; provided that neither the Administrative Agent nor the Collateral Agent shall owe any
fiduciary duty, duty of loyalty, duty of care, duty of disclosure or any other obligation whatsoever to any holder of Obligations with respect to any Secured Swap Agreement. Subject to Section 10.2, without further written consent or
authorization from any Secured Party, the Administrative Agent or the Collateral Agent, as applicable, may execute any documents or instruments necessary to (i) in connection with a sale or disposition of assets permitted by this Agreement,
release any Lien encumbering any item of Collateral that is the subject of such sale or other disposition of assets or to which Required Lenders (or such other Lenders as may be required to give such consent under Section 10.2) have
otherwise consented or (ii) release any Guarantor from the Guaranty pursuant to Section 10.17 or with respect to which Required Lenders (or such other Lenders as may be required to give such consent under Section 10.2)
have otherwise consented. 
 Anything contained in any of the Loan Documents to the contrary notwithstanding, the Borrower, the
Administrative Agent, the Collateral Agent and each Secured Party hereby agree that (i) no Secured Party shall have any right individually to realize upon any of the Collateral or to enforce the Guaranty, it being understood and agreed that all
powers, rights and remedies hereunder may be exercised solely by the Administrative Agent, on behalf of the Secured Parties in accordance with the terms hereof and all powers, rights and remedies under the Collateral Documents may be exercised
solely by the 

  
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Collateral Agent, and (ii) in the event of a foreclosure by the Collateral Agent on any of the Collateral pursuant to a public or private sale or other disposition, the Collateral Agent or
any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition and the Collateral Agent, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their
respective individual capacities unless Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such
public sale, to use and apply any of the Obligations as a credit on account of the purchase price for any collateral payable by the Collateral Agent at such sale or other disposition. 

No Secured Swap Agreement will create (or be deemed to create) in favor of any Lender Counterparty that is a party thereto any rights to
manage or release any Collateral or of the obligations of any Guarantor under the Loan Documents except as expressly provided in clause (vii) of the last sentence of Section 10.2(b) of this Agreement and Section 7.3 of the Security
Agreement. By accepting the benefits of the Collateral, such Lender Counterparty shall be deemed to have appointed Collateral Agent as its agent and agreed to be bound by the Loan Documents as a Secured Party, subject to the limitations set forth in
this paragraph. 
 Notwithstanding anything to the contrary contained herein or any other Loan Document, when all Obligations (other than
contingent indemnification obligations for which no claim has been made and Obligations in respect of any Secured Swap Agreement) have been paid in full, all Commitments have terminated or expired and no Letter of Credit shall be outstanding (or the
outstanding Letters of Credit have been cash collateralized in an amount equal to 105% of all Letter of Credit Usage at such time in a manner satisfactory to Issuing Bank), upon request of the Borrower, the Administrative Agent shall (without notice
to, or vote or consent of, any Lender, or any Affiliate of any Lender that is a party to any Secured Swap Agreement) take such actions as shall be required to release its security interest in all Collateral, and to release all Guaranteed Obligations
provided for in any Loan Document, whether or not on the date of such release there may be outstanding Obligations in respect of Secured Swap Agreements. Any such release of Guaranteed Obligations shall be deemed subject to the provision that such
Guaranteed Obligations shall be reinstated if after such release any portion of any payment in respect of the Obligations guaranteed thereby shall be rescinded or must otherwise be restored or returned upon the insolvency, bankruptcy, dissolution,
liquidation or reorganization of the Borrower or any Guarantor, or upon or as a result of the appointment of a receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or any Guarantor or any substantial part of its
property, or otherwise, all as though such payment had not been made. 
 ARTICLE X 

MISCELLANEOUS 

Section 10.1 Notices. 

(a) Except in the case of notices and other communications expressly permitted to be given by telephone (and subject to paragraph
(b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopy, as follows: 

(i) if to the Borrower, to it at FitBit, Inc., 150 Spear Street, San Francisco, California 94105, Attention: Meena Srinivasan
(email: msrinivasan@fitbit.com), with a copy to Fenwick & West LLP, 801 California Street, Mountain View, California 94041, Attention: David Michaels; 

  
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 (ii) if to the Administrative Agent or the Collateral Agent, to it at Morgan
Stanley Senior Funding, Inc., 1 Pierrepont Plaza, 7th Floor Brooklyn, New York, 11201, Attention: Agency Team, (Telecopy No. 212 507 6680); 

(iii) if to the Swing Line Lender, to it at Morgan Stanley Bank, N.A., 1 Pierrepont Plaza, 7th Floor Brooklyn, New York, 11201,
Attention: Agency Team, (Telecopy No. 212 507 6680); 
 (iv) if to Issuing Bank, to it at Morgan Stanley Bank, N.A.,
1300 Thames Street, Thames Street Wharf, 4th Floor, Baltimore, MD 21231, Attention: Letter of Credit Team, (Telecopy No. 212 507 5010); and 

(v) if to any other Lender, to it at its address (or telecopy number) set forth in its Administrative Questionnaire. 

Notices and other communications sent by hand or overnight courier service, or mailed by certified or registered mail, shall be deemed to have
been given when received; notices and other communications sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to have been given at the opening
of business on the next business day for the recipient). Notices and other communications delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such subsection (b). 

(b) Notices and other communications to the Lenders, Swing Line Lender and Issuing Bank hereunder may be delivered or furnished by electronic
communications pursuant to procedures approved by the Administrative Agent; provided that the foregoing shall not apply to notices pursuant to Article II unless otherwise agreed by the Administrative Agent and the applicable Lender,
Swing Line Lender and Issuing Bank. The Administrative Agent or the Borrower may, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it; provided
that approval of such procedures may be limited to particular notices or communications. 
 (c) Any party hereto may change its address or
telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been
given on the date of receipt. 
 The Borrower agrees that the Agent may make the Communications (as defined below) available to the Lenders
by posting the Communications on IntraLinks, the Internet or another similar electronic system (the “Platform”). THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.” The Agent Parties (as defined below) do not
warrant the adequacy of the Platform and expressly disclaim liability for errors or omissions in the communications effected thereby (the “Communications”). No warranty of any kind, express, implied or statutory, including any
warranty of merchantability, fitness for a particular purpose, non-infringement of third-party rights or freedom from viruses or other code defects, is made by any Agent Party in connection with the Communications or the Platform. In no event shall
the Agent or any of its Related Parties (collectively, the “Agent Parties”) be responsible or liable for damages arising from the unauthorized use by others of information or other materials obtained through internet, electronic,
telecommunications or other information transmission, except to the extent that such damages have resulted from the willful misconduct or gross negligence of such Agent Party (as determined in a final, non-appealable judgment by a court of competent
jurisdiction). 

  
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 Section 10.2 Waivers; Amendments. 

(a) No failure or delay by the Agent or any Lender in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and
remedies of the Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or any other Loan Document or consent to any departure by the
Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given.
Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Agent or any Lender may have had notice or knowledge of such Default at the time. 

(b) None of this Agreement, any other Loan Document or any provision hereof or thereof may be waived, amended or modified except pursuant to
an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided, however, that no such amendment, waiver or
consent shall: (i) extend or increase the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any reimbursement obligation in
respect of any Letter of Credit, or reduce any fees payable hereunder, without the written consent of each Lender directly affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan, or any interest
thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender directly affected thereby; provided,
however , that notwithstanding clause (ii) or (iii) of this Section 10.2(b), only the consent of the Required Lenders shall be necessary to waive any obligation of the Borrower to pay interest at the default rate set
forth in Section 2.12(c), (iv) change Section 2.17(b), Section 2.17(c) or any other Section hereof providing for the ratable treatment of the Lenders, in each case in a manner that would alter the pro
rata sharing of payments required thereby, without the written consent of each Lender, (v) release all or substantially all of the value of any Guaranty or the Collateral, without the written consent of each Lender, except to the extent
the release of any Guarantor or any Collateral is permitted pursuant to Article IX or Section 10.17 (in which case such release may be made by the Administrative Agent or the Collateral Agent, as applicable, acting alone),
(vi) change any of the provisions of this Section or the percentage referred to in the definition of “Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify
any rights hereunder or make any determination or grant any consent hereunder, without the written consent of each Lender, (vii) extend the stated expiration date of any Letter of Credit beyond the Commitment Termination Date without the
written consent of each Lender directly affected thereby, (viii) waive any condition set forth in Section 4.1 (other than as it relates to the payment of fees and expenses of counsel), or, in the case of any Loans made on the
Closing Date, Section 4 .2, without the written consent of each Lender or (ix) change Section 8.3 without the written consent of each Lender. Notwithstanding anything to the contrary herein, (i) no such agreement
shall amend, modify or otherwise affect the rights or duties of the Agent hereunder without the prior written consent of the Agent, (ii) no such amendment shall amend, modify, terminate or waive any obligation of Lenders relating to the
purchase of participations in Letters of Credit as provided in Section 2.4(e) without the written consent of the Administrative Agent and of Issuing Bank, (iii) no such amendment shall amend, modify, terminate or waive any provision
hereof relating to the Swing Line Sublimit or the Swing Line Loans without the consent of Swing Line Lender, (iv) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent hereunder (and any amendment,
waiver or consent which by its terms requires the consent of all Lenders or each affected Lender may be effected with the consent of the applicable Lenders other than Defaulting 

  
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Lenders), except that (x) the Commitment of any Defaulting Lender may not be increased or the termination thereof extended without the consent of such Lender, (y) the principal amount
of any Defaulting Lender’s Loan, or the interest rate thereon or any fees payable hereunder to any Defaulting Lender may not be reduced without the consent of such Lender and (z) any waiver, amendment or modification requiring the consent
of all Lenders or each affected Lender that by its terms affects any Defaulting Lender more adversely than other affected Lenders shall require the consent of such Defaulting Lender, (v) this Agreement may be amended in writing by the
Administrative Agent, the Borrower and, if applicable, the Incremental Lenders to provide for a Commitment Increase in the manner contemplated by Section 2.19 and the extension of the Maturity Date as contemplated by
Section 2.20, (vi) the provisions of Section 2.19 requiring the Borrower to offer a Commitment Increase to the Lenders prior to any other Person may be amended or waived with the consent of the Required Lenders and
(vii) no such amendment shall amend, modify or waive this Agreement or the Security Agreement so as to alter the ratable treatment of Obligations arising under the Loan Documents and Obligations arising under Secured Swap Agreements or the
definition of “Lender Counterparty,” “Secured Hedge Agreement,” “Obligations,” or “Secured Obligations” (as defined in any applicable Collateral Document), in each case in a manner adverse to any Lender
Counterparty with Obligations then outstanding without the written consent of any such Lender Counterparty. 
 Section 10.3
Expenses; Indemnity; Damage Waiver. 
 (a) The Borrower shall pay (i) all reasonable and documented out of pocket expenses
incurred by the Administrative Agent, the Collateral Agent, the Co- Syndication Agents, the Joint Bookrunners and their respective Affiliates, including, without limitation, the reasonable and documented fees, disbursements and other charges of one
firm of counsel for the Administrative Agent, the Collateral Agent, the Co-Syndication Agents and the Joint Bookrunners, taken as a whole, (and if reasonably necessary (as determined by the Administrative Agent in consultation with the Borrower), of
a single local counsel in each appropriate jurisdiction) in connection with the syndication of the credit facilities provided for herein, the preparation, execution, delivery and administration of this Agreement, any other Loan Document or any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all documented out-of-pocket expenses incurred by the Administrative Agent,
the Collateral Agent, the Co-Syndication Agents, the Joint Bookrunners, Issuing Bank or any Lender, including, without limitation, the fees, disbursements and other charges of one firm of counsel for the Administrative Agent, the Collateral Agent
and the Original Lenders, taken as a whole, (and if reasonably necessary (as determined by the Administrative Agent in consultation with the Borrower), of a single local counsel in each appropriate jurisdiction and in the case of an actual or
potential conflict of interest where the Administrative Agent, the Collateral Agent or any Original Lender affected by such conflict informs the Borrower of such conflict and thereafter retains its own counsel, of another firm of counsel for such
affected person), in connection with the enforcement or protection of its rights in connection with this Agreement or any other Loan Document, including its rights under this Section, or in connection with the Loans made hereunder, including all
such out-of pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 
 (b) The Borrower shall
indemnify the Administrative Agent and each Lender and their respective affiliates and their partners, directors, officers, employees, agents and advisors (each such Person being called an “Indemnitee”) against, and hold each
Indemnitee harmless from, any and all losses, claims, damages, liabilities, costs or reasonable and documented expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee
by any third party or by the Borrower or any other Loan Party arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective 

  
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obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, or, in the case of the Agent (and any sub-agent thereof) and its Related Parties only,
the administration of this Agreement and the other Loan Documents, (ii) any Loan or the use of the proceeds therefrom, including, but not limited to, reasonable attorneys’ fees and settlement costs, (iii) any actual or alleged
presence or release of Materials of Environmental Concern on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower or any of its Subsidiaries, or
(iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto (and regardless of
whether such matter is initiated by a third party or the Borrower or any Affiliate of the Borrower); provided that such indemnity shall not, as to any Indemnitee, be available (w) with respect to Taxes (and amounts relating thereto), the
indemnification for which shall be governed solely and exclusively by Sections 2.14 and 2.16, (x) to the extent that such losses, claims, damages, liabilities, costs or reasonable and documented expenses are determined by a court
of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee, (y) if arising from a material breach by such Indemnitee or one of its Affiliates of its
obligations under this Agreement or any other Loan Document (as determined by a court of competent jurisdiction by final and non-appealable judgment) or (z) if arising from any dispute between and among Indemnitees that does not involve an act or
omission by the direct parent of the Borrower, the Borrower or any of its Subsidiaries (as determined by a court of competent jurisdiction by final and non-appealable judgment) other than any proceeding against the Administrative Agent, the
Collateral Agent, the Co-Syndication Agents or the Joint Bookrunners in such capacity. 
 (c) To the extent that any Loan Party fails to pay
any amount required to be paid by it to the Agent under paragraph (a) or (b) of this Section, each Lender severally agrees to pay to the Agent such Lender’s Applicable Percentage (determined as of the time that the applicable
unreimbursed expense or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the
Agent in its capacity as such. 
 (d) Without limiting in any way the indemnification obligations of the Loan Parties pursuant to
Section 10.3(b) or of the Lenders pursuant to Section 10.3(c), to the extent permitted by applicable law, each party hereto shall not assert, and hereby waives, any claim against any Indemnitee or the Borrower or any of its
Subsidiaries, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any
agreement or instrument contemplated hereby, the Transactions or any Loan or the use of the proceeds thereof. No Indemnitee shall be liable for (i) any indirect, special, exemplary, incidental, punitive or consequential damages (including,
without limitation, any loss of profits, business or anticipated savings) which may be alleged as a result of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the Transactions or any Loan or the use of the
proceeds thereof and (ii) any damages arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information
transmission systems in connection with this Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such
Indemnitee as determined by a final and non-appealable judgment of a court of competent jurisdiction. 
 (e) All amounts due under this
Section shall be payable promptly after written demand therefor. 

  
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 Section 10.4 Successors and Assigns. 

(a) The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective successors and
assigns permitted hereby, except that (i) the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender and Issuing Bank (and any attempted assignment or transfer
by the Borrower without such consent shall be null and void) and (ii) no Lender may assign or otherwise transfer its rights or obligations hereunder except in accordance with this Section. Nothing in this Agreement, expressed or implied, shall
be construed to confer upon any Person (other than the parties hereto, their respective successors and assigns permitted hereby, Participants (to the extent provided in paragraph (c) of this Section) and, to the extent expressly contemplated
hereby, the Related Parties of each of the Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

(b)    (i) Subject to the conditions set forth in paragraph (b)(ii) below, any Lender may assign to one or more assignees
(but not to the Borrower or an Affiliate thereof or any natural person) all or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it) with the prior written
consent (such consent not to be unreasonably withheld or delayed) of: 
 (A) the Borrower, provided that no consent of the
Borrower shall be required for an assignment to a Lender, an Affiliate of a Lender, an Approved Fund or, if an Event of Default has occurred and is continuing, any other assignee and provided further that the Borrower shall be deemed to have
consented to any such assignment unless it shall object thereto by written notice to the Administrative Agent within 5 Business Days after having received notice thereof; and 

(B) the Administrative Agent, Issuing Bank and Swing Lender; provided that no such consent shall be required for an
assignment of any Commitment to an assignee that is a Lender with a Commitment immediately prior to giving effect to such assignment, an Affiliate of a Lender, an Approved Fund. 

(ii) Assignments shall be subject to the following additional conditions: 

(A) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount
of the assigning Lender’s Commitment or Loans, the amount of the Commitment or Loans of the assigning Lender subject to each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered
to the Administrative Agent) shall not be less than $5,000,000 (or a greater amount that is an integral multiple of $1,000,000) unless each of the Borrower and the Administrative Agent otherwise consent; provided that no such consent of the
Borrower shall be required if an Event of Default has occurred and is continuing; 
 (B) each partial assignment shall be
made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement; 

(C) unless waived by the Administrative Agent in its sole discretion, the parties to each assignment shall execute and deliver
to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500; 
 (D)
the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire in which the assignee designates 

  
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one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower and its Related Parties or their respective securities)
will be made available and who may receive such information in accordance with the assignee’s compliance procedures and applicable laws, including Federal and state securities laws; 

(E) no such assignment shall be made to (i) any Loan Party nor any Affiliate of a Loan Party or (ii) any Defaulting
Lender or any of its subsidiaries, or any Person, who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this clause (ii); and 

(F) in connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment shall be
effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment shall make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as
appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro
rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such
Defaulting Lender to the Administrative Agent or any Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans in accordance with its Applicable Percentage.
Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder shall become effective under applicable Law without compliance with the provisions of this paragraph, then the assignee of
such interest shall be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 
 For the purposes
of this Section, the term “Approved Fund” has the following meaning: 
 “Approved Fund” means any Person (other
than a natural person) that is engaged in making, purchasing, holding or investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate
of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 
 (iii) Subject to
acceptance and recording thereof pursuant to paragraph (b)(iv) of this Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned
by such Assignment and Assumption, have the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be
entitled to the benefits of Section 2.14, Section 2.15, Section 2.16 and Section 10.3); provided, that except to the extent otherwise expressly agreed by the affected parties, no assignment by a
Defaulting Lender will constitute a waiver or release of any claim of any party hereunder arising from that Lender’s having been a Defaulting Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does
not comply with this Section shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (c) of this Section. 

  
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 (iv) The Administrative Agent, acting for this purpose as an agent of the
Borrower, shall maintain at one of its offices a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitment of, and amounts on the Loans owing to, and
drawings under Letters of Credit owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall be conclusive (absent manifest error), and the Borrower, the Administrative
Agent and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower and any Lender, at any reasonable time and from time to time upon reasonable prior notice. The Borrower agrees to indemnify the Administrative Agent from and against any and all losses, claims, damages and liabilities of
whatsoever nature which may be imposed on, asserted against or incurred by the Administrative Agent in performing its duties under this Section 10.4(b)(iv), except to the extent that such losses, claims, damages or liabilities are
determined by a court of competent jurisdiction by final and non-appealable judgment to have resulted from the gross negligence or willful misconduct of the Administrative Agent. The Loans (including principal and interest) are registered
obligations and the right, title, and interest of any Lender or its assigns in and to such Loans shall be transferable only upon notation of such transfer in the Register. 

(v) Upon its receipt of a duly completed Assignment and Assumption executed by an assigning Lender and an assignee, the
assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this Section and any written consent to such assignment
required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register; provided that if either the assigning Lender or the assignee shall
have failed to make any payment required to be made by it pursuant to Section 2.6(b), Section 2.17(d) or Section 10.3(c), the Administrative Agent shall have no obligation to accept such Assignment and Assumption
and record the information therein in the Register unless and until such payment shall have been made in full, together with all accrued interest thereon. No assignment shall be effective for purposes of this Agreement unless it has been recorded in
the Register as provided in this paragraph. 
 (c)    (i) Any Lender may, without the consent of, or notice to, the
Borrower or the Administrative Agent, sell participations to one or more banks or other entities (but not to the Borrower or an Affiliate thereof or any natural person) (a “Participant”) in all or a portion of such Lender’s
rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall remain unchanged, (B) such Lender
shall remain solely responsible to the other parties hereto for the performance of such obligations and (C) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection
with such Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to
approve any amendment, modification or waiver of any provision of this Agreement; provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification
or waiver described in the first proviso to Section 10.2(b) that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of
Section 2.14, Section 2.15 and Section 2.16 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to paragraph (b) of this Section. To the extent permitted by law,
each Participant also shall be entitled to the benefits of Section 10.8 as though it were a Lender, provided such Participant agrees to be subject to Section 2.17(c) as though it were a Lender. 

  
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 (ii) A Participant shall not be entitled to receive any greater payment under
Section 2.14 or Section 2.16 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant. A Participant that would be a Foreign Lender if it were a Lender shall
not be entitled to the benefits of Section 2.16 unless the Borrower is notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.16(e) as
though it were a Lender. 
 (d) Any Lender may at any time, without consent of the Borrower or the Administrative Agent, pledge or assign a
security interest in all or any portion of its rights under this Agreement to secure obligations of such Lender, including without limitation any pledge or assignment to secure obligations to a Federal Reserve Bank, and this Section shall not apply
to any such pledge or assignment of a security interest; provided that no such pledge or assignment of a security interest shall release a Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender
as a party hereto. 
 Section 10.5 Survival. All covenants, agreements, representations and warranties made by the Loan Parties
herein and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement
and the making of any Loans, regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at
the time any credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long
as the Commitments have not expired or terminated. The provisions of Section 2.14, Section 2.15, Section 2.16 and Section 10.3 and Article IX shall survive and remain in full force and effect
regardless of the consummation of the transactions contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments, the cancellation or expiration of the Letters of Credit and the reimbursement of any amounts drawn
thereunder, the resignation of the Agent, the replacement of any Lender, or the termination of this Agreement or any provision hereof. 

Section 10.6 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents and any separate letter agreements with respect to fees
payable to the Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as provided
in Section 4.1, this Agreement shall become effective when it shall have been executed by the Agent and when the Agent shall have received counterparts hereof which, when taken together, bear the signatures of each of the other parties
hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or other electronic
imaging means shall be effective as delivery of a manually executed counterpart of this Agreement. 
 Section 10.7 Severability.
Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. Without limiting the foregoing provisions of this
Section, if and to the extent that the enforceability of any provisions in this Agreement relating to Defaulting Lenders shall be limited by Debtor Relief Laws, as determined in good faith by the Administrative Agent, then such provisions shall be
deemed to be in effect only to the extent not so limited. 

  
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 Section 10.8 Right of Setoff. If an Event of Default shall have occurred and be
continuing, each Lender, Issuing Bank and each of its respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply any and all deposits (general or special, time or
demand, provisional or final) at any time held by, and other obligations at any time owing by such Lender, Issuing Bank or Affiliate to or for the credit or the account of any Loan Party against any of and all the obligations of such Loan Party now
or hereafter existing under this Agreement or any other Loan Document held by such Lender or Issuing Bank, irrespective of whether or not such Lender or Issuing Bank shall have made any demand under this Agreement or such other Loan Document and
although such obligations may be unmatured; provided that in the event that any Defaulting Lender shall exercise any such right of setoff, (x) all amounts so set off shall be paid over immediately to the Administrative Agent for further
application in accordance with the provisions of Section 2.21 and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent, Issuing
Bank and the Lenders, and (y) the Defaulting Lender shall provide promptly to the Administrative Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it exercised such right of setoff.
The rights of each Lender and Issuing Bank under this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender or Issuing Bank may have. Each Lender and Issuing Bank agrees to notify the Borrower and
the Administrative Agent promptly after any such setoff and application; provided that the failure to give such notice shall not affect the validity of such setoff and application. 

Section 10.9 Governing Law; Jurisdiction; Consent to Service of Process. 

(a) THIS AGREEMENT AND ALL CLAIMS AND CAUSE OF ACTION RELATED TO OR ARISING OUT OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY
SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 (b) Each Loan Party hereby irrevocably and
unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court 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 hereby irrevocably and unconditionally agrees that all
claims in respect of any such action or proceeding shall be heard and determined in such New York State or, to the extent permitted by 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 shall affect any right that the Agent or any Lender may otherwise have to bring any
action or proceeding relating to this Agreement against any Loan Party or its properties in the courts of any jurisdiction. 
 (c) Each Loan
Party hereby irrevocably and unconditionally waives, to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to
this Agreement in any court referred to in paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or
proceeding in any such court. 

  
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 (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 10.1. Nothing in this Agreement will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

Section 10.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO
(A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT
IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION. 

Section 10.11 Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only,
are not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

Section 10.12 Confidentiality. 

(a) Each of the Agent and the Lenders (which term shall for the purposes of this Section 10.12 includes the Issuing Bank) agrees
to (i) maintain the confidentiality of the Information (as defined below), (ii) not disclose any Information to any individual or organization, either internally or externally, without the prior written consent of the Borrower (which
consent shall not be unreasonably withheld, conditioned or delayed), and (iii) not use the Information for any purpose except in connection with the Loan Documents, except that Information may be disclosed (A) to its and its
Affiliates’ directors, officers, employees and agents, including accountants, legal counsel and other advisors, or to any credit insurance provider relating to any Loan Party and its obligations, in each case whom it reasonably determines needs
to know such information in connection with this Agreement and the transactions contemplated hereby (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed
to keep such Information confidential), (B) to the extent requested by any regulatory authority or any self-regulatory body claiming oversight over any Lender or any of its Affiliates, (C) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process (in which case the Agent or such Lender, as applicable, agrees, to the extent permitted by applicable law, to inform the Borrower promptly thereof), (D) to any other party to this Agreement,
(E) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (F) subject to an agreement containing provisions substantially the same as
those of this Section, to any assignee of any of its rights or obligations under this Agreement, (G) with the consent of the Borrower or (H) to the extent such Information (x) becomes publicly available other than as a result of a breach
of this Section or (y) becomes available to the Agent or any Lender on a non-confidential basis from a source other than the Borrower. In addition, the Agent and the Lenders may disclose Limited Information to (a) any Participant or
“bona fide” prospective Participant in, or any “bona fide” prospective assignee of, the Commitments, the Loans or any Lender’s rights or obligations under this Agreement or (b) any actual or prospective counterparty (or
its advisors) to any swap or derivative transaction relating to the Borrower and its obligations; provided that (x) such Participant, prospective Participant, prospective assignee, actual or prospective counterparty or advisor is advised
of and agrees, in advance of such disclosure, in writing (including pursuant to customary “click-through” procedures), to be bound by either the 

  
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provisions of this Section 10.12 or other provisions that are at least as restrictive as the provisions contained in this Section 10.12 and (y) the Agent and Lenders
give notice to the Borrower prior to the disclosure of such Limited Information (including the identity of the party to whom such Limited Information is to be disclosed and the nature of the Limited Information to be disclosed) to the extent
permitted by applicable law or regulation (other than information provided by the Borrower pursuant to Sections 3.4(a), 5.1(a) and (b) and information described in clauses (d) and (e) of the definition of
“Limited Information”) (it being understood that no consent of the Borrower shall be required with respect to any disclosure of Limited Information permitted hereunder). For the purposes of this Section, “Information”
means all information received from the Borrower, or from any of its Affiliates, representatives or advisors on behalf of the Borrower, relating to the Borrower or its business, other than any such information that is available to the Agent or any
Lender on a non-confidential basis prior to disclosure by the Borrower, or by any of its Affiliates, representatives or advisors on behalf of the Borrower. Any Person required to maintain the confidentiality of Information as provided in this
Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

(b) EACH LENDER ACKNOWLEDGES THAT INFORMATION AS DEFINED IN SECTION 10.12(a) FURNISHED TO IT PURSUANT TO THIS AGREEMENT MAY INCLUDE
MATERIAL NON-PUBLIC INFORMATION CONCERNING THE BORROWER AND ITS RELATED PARTIES OR THEIR RESPECTIVE SECURITIES, AND CONFIRMS THAT IT HAS DEVELOPED COMPLIANCE PROCEDURES REGARDING THE USE OF MATERIAL NON-PUBLIC INFORMATION AND THAT IT WILL HANDLE
SUCH MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH THOSE PROCEDURES AND APPLICABLE LAW, INCLUDING FEDERAL AND STATE SECURITIES LAWS. 

(c) ALL INFORMATION, INCLUDING REQUESTS FOR WAIVERS AND AMENDMENTS, FURNISHED BY THE BORROWER OR THE ADMINISTRATIVE AGENT PURSUANT TO, OR IN
THE COURSE OF ADMINISTERING, THIS AGREEMENT WILL BE SYNDICATE-LEVEL INFORMATION, WHICH MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION ABOUT THE BORROWER AND ITS RELATED PARTIES OR ITS SECURITIES. ACCORDINGLY, EACH LENDER REPRESENTS TO THE BORROWER AND
THE ADMINISTRATIVE AGENT THAT IT HAS IDENTIFIED IN ITS ADMINISTRATIVE QUESTIONNAIRE A CREDIT CONTACT WHO MAY RECEIVE INFORMATION THAT MAY CONTAIN MATERIAL NON-PUBLIC INFORMATION IN ACCORDANCE WITH ITS COMPLIANCE PROCEDURES AND APPLICABLE LAW. 

Section 10.13 Interest Rate Limitation. Notwithstanding anything herein to the contrary, if at any time the interest rate
applicable to any Loan, together with all fees, charges and other amounts which are treated as interest on such Loan under applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such Loan in accordance with applicable law, the rate of interest payable in respect of such Loan hereunder, together with all Charges payable in
respect thereof, shall be limited to the Maximum Rate and, to the extent lawful, the interest and Charges that would have been payable in respect of such Loan but were not payable as a result of the operation of this Section shall be cumulated and
the interest and Charges payable to such Lender in respect of other Loans or periods shall be increased (but not above the Maximum Rate therefor) until such cumulated amount, together with interest thereon at the Federal Funds Effective Rate to the
date of repayment, shall have been received by such Lender. 

  
 104 

 Section 10.14 No Advisory or Fiduciary Responsibility. In connection with all aspects
of each Transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document), each Loan Party acknowledges and agrees, and acknowledges its Subsidiaries’ understanding,
that: (i) (A) the arranging and other services regarding this Agreement provided by the Agent, the Co-Syndication Agents, the Joint Bookrunners and the Lenders are arm’s-length commercial transactions between such Loan Party and its
Affiliates, on the one hand, and the Agent, the Co-Syndication Agents, the Joint Bookrunners and the Lenders, on the other hand, (B) such Loan Party has consulted its own legal, accounting, regulatory and tax advisors to the extent it has
deemed appropriate, and (C) such Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the Transactions contemplated hereby and by the other Loan Documents; (ii) (A) each of the Agent,
the Co-Syndication Agents, the Joint Bookrunners and the Lenders is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or
fiduciary for any Loan Party or any of its Subsidiaries, or any other Person and (B) neither the Agent, any Co-Syndication Agent, any Joint Bookrunner nor any Lender has any obligation to any Loan Party or any of its Affiliates with respect to
the Transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (iii) the Agent, the Co-Syndication Agents, the Joint Bookrunners and the Lenders and their respective Affiliates may
be engaged in a broad range of transactions that involve interests that differ from those of such Loan Party and its Affiliates, and neither the Agent, any Co-Syndication Agent, any Joint Bookrunner nor any Lender has any obligation to disclose any
of such interests to such Loan Party or its Affiliates. To the fullest extent permitted by law, each Loan Party hereby waives and releases any claims that it may have against the Agent, the Co-Syndication Agents, the Joint Bookrunners and the
Lenders with respect to any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 

Section 10.15 Electronic Execution of Assignments and Certain Other Documents. The words “execution,”
“signed,” “signature,” and words of like import in any Assignment and Assumption or in any amendment or other modification hereof (including waivers and consents) shall be deemed to include electronic signatures or the keeping of
records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any
applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

Section 10.16 USA PATRIOT Act. Each Lender that is subject to the requirements of the USA Patriot Act hereby notifies each Loan
Party that pursuant to the requirements of the USA Patriot Act, it is required to obtain, verify and record information that identifies such Loan Party, which information includes the name and address of such Loan Party and other information that
will allow such Lender to identify such Loan Party in accordance with the USA Patriot Act. Each Loan Party shall, promptly following a request by the Administrative Agent or any Lender, provide all documentation and other information that the
Administrative Agent or such Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the USA Patriot Act. 

Section 10.17 Release of Guarantors. In the event that all the Equity Interests in any Guarantor are sold, transferred or
otherwise disposed of to a Person other than the Borrower or its Restricted Subsidiaries in a transaction permitted under this Agreement, the Administrative Agent shall, at the Borrower’s expense, promptly take such action and execute such
documents as the Borrower may reasonably request to terminate the guarantee of such Guarantor. 

  
 105 

 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 above written. 
  

			
	FITBIT, INC., as Borrower
		
	By:		 /s/ William Zerella

	Name:		William Zerella
	Title:		Chief Financial Officer

 Signature Page to Credit Agreement 

 
			
	FITBIT INTERNATIONAL, LLC, as Guarantor
	By:		FitBit, Inc.
	Its:		Sole Member
		
	By:		 /s/ William Zerella

	Name:		William Zerella
	Title:		Chief Financial Officer

 Signature Page to Credit Agreement 

 
			
	MORGAN STANLEY SENIOR FUNDING, INC.,
	    as Administrative Agent and Collateral Agenet
		
	By:		 /s/ Jon Raven

	Name:		Jon Raven
	Title:		Authorized Signatory

 Signature Page to Credit Agreement 

 
			
	MORGAN STANLEY BANK, N.A.,
	    as Issuing Bank, Swing Line Lender and Lender
		
	By:		 /s/ Jon Raven

	Name:		Jon Raven
	Title:		Authorized Signatory

 Signature Page to Credit Agreement 

 
			
	CITY NATIONAL BANK, as Lender
		
	By:		 /s/ Kevin Conway

	Name:		Kevin Conway
	Title:		Vice President

 Signature Page to Credit Agreement 

 
			
	SILICON VALLEY BANK, as Lender
		
	By:		 /s/ Jennie T. Bartlett

	Name:		Jennie T. Bartlett
	Title:		Vice President

 Signature Page to Credit Agreement 

 
			
	SUNTRUST BANK, as Lender
		
	By:		 /s/ Chad Ramsey

	Name:		Chad Ramsey
	Title:		Director

 Signature Page to Credit Agreement 

 Schedule 2.1 

Commitments 
  

					
	 Lender
	  	Commitment	 
	 Morgan Stanley Bank, N.A.
	  	$	12,125,000	  
	 Silicon Valley Bank
	  	$	12,125,000	  
	 SunTrust Bank
	  	$	12,125,000	  
	 City National Bank
	  	$	3,625,000	  
	 Total:
	  	$	40,000,000	  

 Schedule 3.2 

Governmental Approvals 

None. 

  
 3 

 Schedule 3.3 

Requirements of Law 
 None.

  
 4 

 Schedule 3.4 

Financial Condition 
 None.

  
 5 

 Schedule 3.6 

Disclosed Matters 
 None.

  
 6 

 Schedule 3.10 

Plans 
 1. 2007 Stock Plan, as amended.

  
 7 

 Schedule 3.12 

Subsidiaries 
  

							
	 Entity
	  	 Name
	  	Jurisdiction	  	 Ownership

	Borrower	  	FitBit, Inc.	  	Delaware	  	N/A
	Subsidiary	  	FitBit Limited	  	United Kingdom	  	100% owned by FitBit, Inc.
	Subsidiary	  	FitBit International, LLC	  	Delaware	  	100% owned by FitBit, Inc.
	Subsidiary	  	FitBit Korea Ltd.	  	Korea	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit (Hong Kong) Limited	  	Hong Kong	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit (Australia) Pty Ltd	  	Australia	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit International Holdings	  	Ireland	  	100% owned by FitBit International, LLC
	Subsidiary	  	Fitbit Holdings	  	Ireland	  	100% owned by Fitbit International Holdings
	Subsidiary	  	Fitbit International Limited	  	Ireland	  	100% owned by Fitbit Holdings
	Subsidiary	  	Fitbit Bel	  	Belarus	  	 0.01% owned by FitBit, Inc.
 99.99% owned by
Fitbit Limited

  

	*	Formation of corporate entities in Japan and China are in progress. 

  
 8 

 Schedule 3.18(a) 

UCC Filing Jurisdictions 
 1. UCC Financing
Statement naming FitBit, Inc., as “debtor” and the Administrative Agent as “secured party” to be filed with the Secretary of State of the State of Delaware. 

2. UCC Financing Statement naming FitBit International, LLC as “debtor” and the Administrative Agent as “secured party” to be filed with
the Secretary of State of the State of Delaware. 

  
 9 

 Schedule 5.15 

Post-Closing Actions 
  

	1.	Fitbit International Holdings 

	2.	Fitbit (Australia) Pty Ltd. 

  
 10 

 Schedule 6.2 

Existing Liens 
 None. 

  
 11 

 Schedule 6.5 

Existing Restrictions 

None. 

  
 12 

 Schedule 6.7 

Existing Investments 
  

			
	 Investment
	 	 Amount Invested

		
	 Equity Capitalization of Fitbit Limited (UK sub)
	 	$100.00 GBP ($166.00 USD)
		
	 Equity Capitalization of Fitbit International, LLC
	 	$8,100,000 USD
		
	 Equity Capitalization of Fitbit Korea Ltd.
	 	$94,122.23 USD
		
	 Equity Capitalization of Fitbit (Hong Kong) Limited
	 	$1,000 HKD ($128.76 USD)
		
	 Equity Capitalization of Fitbit International

Holdings (Ireland)
	 	$8,001,000 USD
		
	 Equity Capitalization of Fitbit Holdings (Ireland)
	 	$8,001,000 USD
		
	 Equity Capitalization of Fitbit International Limited (Ireland)
	 	€2 EUR ($2.72 USD)
		
	 Equity Capitalization of Fitbit Bel
	 	 BYR 103,000 ($10,000 USD)

Consisting of:
 Fitbit, Inc. - $1.00
USD
 Fitbit Limited - $9,999.00 USD

		
	 Equity Capitalization of Fitbit (Australia) Pty Ltd.
	 	$100 AUD ($9,257 USD)

  
 13 

 EXHIBIT A 

FORM OF 
 ASSIGNMENT AND
ASSUMPTION 
 This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into by and between [NAME OF ASSIGNOR] (the “Assignor”) and [NAME OF ASSIGNEE] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the Revolving Credit
and Guaranty Agreement identified below (as amended, restated, amended and restated, supplemented, extended and/or otherwise modified from time to time, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by
the Assignee. The Standard Terms and Conditions set forth in Annex I attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from
the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent as contemplated below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and
obligations of the Assignor under the facility identified below and (ii) to the extent permitted to be assigned under applicable law, all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against
any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the
foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations
sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in
this Assignment and Assumption, without representation or warranty by the Assignor. 
  

					
	1.		Assignor:		                                      
              
					[Assignor [is] [is not] a Defaulting Lender]
			
	2.		Assignee:		                                      
              
					[and is an Affiliate of [identify Lender]]
			
	3.		Borrower:		FitBit, Inc. (the “Company”)
			
	4.		Administrative Agent:		Morgan Stanley Senior Funding, Inc., as the Administrative Agent under the Credit Agreement
			
	5.		Credit Agreement:		Revolving Credit and Guaranty Agreement, dated as of August 13, 2014, among FitBit, Inc., as the Borrower, the Guarantors party thereto, the Lenders party thereto, Morgan Stanley Senior Funding, Inc., as the Administrative Agent and
Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender.

  
 A-1 

 6. Assigned Interest: 
  

													
	 Facility Assigned
	  	Aggregate Amount of
Commitment/Loans for
all Lenders	 	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans1	 
	 Revolving Facility
	  	$	 	  	  	$	 	  	  	 	%	  

 Effective Date:
                             , 20     [TO BE INSERTED BY THE ADMINISTRATIVE AGENT AND
WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF TRANSFER IN THE REGISTER THEREFOR.] 
 The Assignee agrees to deliver to the Administrative Agent a
completed Administrative Questionnaire in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information) will be made available and who may receive such
information in accordance with the Assignee’s compliance procedures and applicable laws, including Federal and state securities laws. 

[Signature Pages Follow] 
  

 

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

  
 A-2 

 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]
		
	By:		  

	Name:		
	Title:		
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]
		
	By:		  

	Name:		
	Title:		

  
 A-3 

 
			
	Consented to and Accepted:
	
	 MORGAN STANLEY SENIOR FUNDING, INC.,

AS ADMINISTRATIVE AGENT

		
	By:		  

	Name:		
	Title:		
	
	MORGAN STANLEY BANK, N.A., AS ISSUING BANK
		
	By:		  

	Name:		
	Title:		
	
	MORGAN STANLEY BANK, N.A., AS SWING LINE LENDER
		
	By:		  

	Name:		
	Title:		

  
 A-4 

 
			
	[Consented to:
	
	[FITBIT, INC.]
		
	By:		  

	Name:		
	Title:]1		

  
  

	1 	To be added only if the consent of the Company is required by the terms of the Credit Agreement. 

  
 A-5 

 Annex I 

to Exhibit A 
 FITBIT, INC.
CREDIT AGREEMENT 
 Standard Terms and Conditions for 

Assignment and Assumption 
 1.
Representations and Warranties. 
 1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial
owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim, (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment
and Assumption and to consummate the transactions contemplated hereby and (iv) it is [not] a Defaulting Lender; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in
connection with the Credit Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of
the Company, any of its Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Company, any of its Subsidiaries or Affiliates or any other Person of any of their
respective obligations under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements,
if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received and/or had the opportunity to review a copy of the Credit Agreement to the extent it has in
its sole discretion deemed necessary, together with copies of the most recent financial statements delivered pursuant to Sections 5.1(a) and 5.1(b) thereof, as applicable, and such other documents and information as it has in its sole
discretion deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently and without
reliance on the Administrative Agent or any other Lender, and (v) attached to this Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the
Assignee; (b) agrees that it will, independently and without reliance on the Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own
credit decisions in taking or not taking action under the Loan Documents; (c) appoints and authorizes each of the Administrative Agent and the Collateral Agent to take such action as agent on its behalf and to exercise such powers under the
Credit Agreement and the other Loan Documents as are delegated to or otherwise conferred upon the Administrative Agent or the Collateral Agent, as the case may be, by the terms thereof, together with such powers as are reasonably incidental thereto;
and (d) agrees that it will perform in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

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

  
 A-6 

 Annex I 

to Exhibit A 

 3. Effect of Assignment. Upon the delivery of a fully executed original hereof to the Administrative
Agent, as of the Effective Date, (i) the Assignee shall be a party to the Credit Agreement and, to the extent provided in this Assignment and Assumption, have the rights and obligations of a Lender thereunder and under the other Loan Documents
and (ii) the Assignor shall, to the extent provided in this Assignment and Assumption, relinquish its rights and be released from its obligations under the Credit Agreement and the other Loan Documents. 

4. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective
successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a signature page of this Assignment and Assumption by
telecopy or other means of electronic imaging shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. THIS ASSIGNMENT AND ASSUMPTION SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. 

  
 A-7 

 EXHIBIT B-1 

FORM OF 
 BORROWING REQUEST

 Morgan Stanley Senior Funding, Inc., as Administrative Agent 

        for the Lenders party to the 

        Credit Agreement referred to below 

1 Pierrepont Plaza 
 7th Floor 

Brooklyn, New York 11201 
 Attention: Agency Team 

[Date] 
 Ladies and Gentlemen: 

The undersigned, FitBit, Inc. (the “Borrower”), refers to the Revolving Credit and Guaranty Agreement, dated as of
August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement,” the terms defined therein and not otherwise defined herein being used
herein as therein defined), among the Borrower, the Guarantors party thereto, the Lenders party thereto (each a “Lender” and collectively, the “Lenders”), Morgan Stanley Senior Funding, Inc., as Collateral Agent,
the other agents named therein, Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender, and you, as the Administrative Agent for the Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.5 of the Credit
Agreement, that the undersigned hereby requests a Borrowing under the Credit Agreement, and in that connection sets forth below the information relating to such Borrowing (the “Proposed Borrowing”) as required by
Section 2.5 of the Credit Agreement: 
 (i) The Business Day of the Proposed Borrowing is
                         , 20    .3 

(ii) The aggregate principal amount of the Proposed Borrowing is [—]4. 
 (iii) The Proposed Borrowing is to consist of [ABR Loans] [Eurodollar
Loans]. 
 [(iv) The initial Interest Period for the Proposed Borrowing is [one/two/three/six months].] 

(v) The location and number of the account or accounts to which funds are to be disbursed is as follows: 

[Insert location and number of the account(s)] 
  

 

	3 	Shall be a Business Day at least one Business Day in the case of ABR Loans and at least three Business Days in the case of Eurodollar Loans, in each case, after the date hereof, provided that any such notice
shall be deemed to have been given on a certain day only if given before 12 Noon (New York City time) in the case of ABR Loans or before 11:00 a.m. (New York City time) in the case of Eurodollar Loans, on such day. 

	4 	Such amount to be stated in Dollars. 

  
 B-1-1 

 The undersigned hereby certifies that the following statements are true on the date hereof, and
will be true on the date of the Proposed Borrowing: 
 (A) the representations and warranties of the Borrower set forth in
the Credit Agreement and in the other Loan Documents are and will be true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and
warranties shall be true and correct in all respects) on and as of the date of the Proposed Borrowing, except that (i) for purposes of this Borrowing Request, the representations and warranties contained in Section 3.4(a) of the
Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 5.1 of the Credit Agreement and (ii) to the extent that such representations
and warranties specifically refer to an earlier date, they were true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties
shall be true and correct in all respects) as of such earlier date; 
 (B) at the time of and immediately after giving effect
to the Proposed Borrowing, no Default or Event of Default has occurred and is continuing; and 
 (C) after giving effect to
such Proposed Borrowing, the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal quarter most recently ended for which financial statements are required to be delivered pursuant to
Section 5.1 of the Credit Agreement shall not exceed the maximum Consolidated Total Leverage Ratio permitted under Section 6.12 of the Credit Agreement for such period. 

[Signature Page Follows] 

  
 B-1-2 

 The Borrower has caused this Borrowing Request to be executed and delivered by its duly
authorized officer as of the date first written above. 
  

			
	Very truly yours,
	
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		

  
 B-1-3 

 EXHIBIT B-2 

FORM OF 
 FORM OF ISSUANCE
NOTICE 
 Reference is made to the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as it may be amended,
restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among FitBit,
Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto (the “Lenders”), Morgan Stanley Senior Funding, Inc., as the Administrative
Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender. 

Pursuant to Section 2.4 of the Credit Agreement, the Borrower desires a Letter of Credit to be issued in accordance with the terms
and conditions of the Credit Agreement on [—] (the “Credit Date”) in an aggregate face amount of $[    ,    ,    ]. 

Attached hereto for each such Letter of Credit are the following: 

(a) the stated amount of such Letter of Credit; 

(b) the name and address of the beneficiary; 

(c) the expiration date; and 

(d) either (i) the verbatim text of such proposed Letter of Credit, or (ii) a description of the proposed terms and
conditions of such Letter of Credit, including a precise description of any documents to be presented by the beneficiary which, if presented by the beneficiary prior to the expiration date of such Letter of Credit, would require the Issuing Bank to
make payment under such Letter of Credit. 
 The Borrower hereby certifies that: 

 

	 	(i)	after issuing such Letter of Credit requested on the Credit Date, the Total Utilization of Commitments shall not exceed the Commitments then in effect; 

 

	 	(ii)	as of the Credit Date, the representations and warranties set forth in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than to the extent qualified by materiality
or “Material Adverse Effect”, in which case, such representations and warranties shall be true and correct in all respects) on and as of such Credit Date to the same extent as though made on and as of such date, except that (i) for
purposes of this Issuance Notice, the representations and warranties contained in Section 3.4(a) of the Credit Agreement shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b),
respectively, of Section 5.1 of the Credit Agreement and (ii) to the extent that such representations and warranties specifically refer to an earlier date, they were true and correct in all material respects (other than to the
extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties shall be true and correct in all respects) as of such earlier date; 

 

	 	(iii)	at the time of and immediately after issuing such Letter of Credit requested on the Credit Date, no Default or Event of Default has occurred and is continuing; 

  
 B-2-1 

	 	(iv)	after giving effect to such issuance, the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of the last day of the fiscal quarter most recently ended for which financial statements are required to be
delivered pursuant to Section 5.1 of the Credit Agreement shall not exceed the maximum Consolidated Total Leverage Ratio permitted under Section 6.12 of the Credit Agreement for such period; and 

 

	 	(v)	on or before the Credit Date, the Administrative Agent has received all other information required by this Issuance Notice and the applicable Application. 

[Remainder of page intentionally left blank] 

  
 B-2-2 

 Date: [—] 

 

			
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		

  
 B-2-3 

 EXHIBIT C 

FORM OF 
 INTEREST ELECTION
REQUEST 
 Morgan Stanley Senior Funding, Inc., as Administrative Agent 

        for the Lenders party to the 

        Credit Agreement referred to below 

1 Pierrepont Plaza 
 7th Floor 

Brooklyn, New York 11201 
 Attention: Agency Team 

[Date] 
 Ladies and Gentlemen: 

The undersigned, FitBit, Inc. (the “Borrower”), refers to the Revolving Credit and Guaranty Agreement, dated as of
August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), among the Borrower, the Guarantors party thereto, the Lenders party thereto (each a “Lender” and collectively, the “Lenders”), Morgan Stanley Senior Funding, Inc., as Collateral Agent,
the other agents named therein, Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender, and you, as the Administrative Agent for the Lenders, and hereby gives you notice, irrevocably, pursuant to Section 2.7 of the Credit Agreement,
that the undersigned hereby requests to [convert] [continue] the Borrowing of Loans referred to below, and in that connection sets forth below the information relating to such [conversion] [continuation] (the “Proposed [Conversion]
[Continuation]”) as required by Section 2.7 of the Credit Agreement: 
 (i) The Proposed [Conversion] [Continuation]
relates to the Borrowing of Loans originally made on                          , 20     (the
“Outstanding Borrowing”) in the principal amount of $[—] and currently maintained as a Borrowing of [ABR Loans] [Eurodollar Loans with an Interest Period ending on
                         , 20    ]. 

(ii) The Business Day of the Proposed [Conversion] [Continuation] is
                         , 20    .5 

(iii) The Outstanding Borrowing shall be [continued as a Borrowing of Eurodollar Loans with an Interest Period of [—]][converted into a Borrowing of [ABR Loans] [Eurodollar Loans with an Interest Period of [one/two/three/six months]].6 

[The undersigned hereby certifies that no Default or Event of Default has occurred and will be continuing on the date of the Proposed
[Conversion] [Continuation] or will have occurred and be continuing on the date of the Proposed [Conversion] [Continuation]].7 

[Signature Page Follows] 
  

 

	5 	Shall be a Business Day at least one Business Day in the case of ABR Loans and at least three Business Days in the case of Eurodollar Loans, in each case, after the date hereof, provided that any such notice
shall be deemed to have been given on a certain day only if given before 12 Noon (New York City time) in the case of ABR Loans or before 11:00 a.m. (New York City time) in the case of Eurodollar Loans, on such day. 

	6 	In the event that either (x) only a portion of the Outstanding Borrowing is to be so converted or continued or (y) the Outstanding Borrowing is to be divided into separate Borrowings with different Interest
Periods, the Borrower should make appropriate modifications to this clause to reflect same. 

	7 	In the case of a Proposed Conversion or Continuation, insert this sentence only in the event that the conversion is from an ABR Loan to a Eurodollar Loan or in the case of a continuation of a Eurodollar Loan.

  
 C-1 

 The Borrower has caused this Interest Election Request to be executed and delivered by its duly
authorized officer as of the date first written above. 
  

			
	Very truly yours,
	
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		

  
 C-2 

 EXHIBIT D-1 

FORM OF 
 REVOLVING LOAN NOTE

 New York, New York 

                    
    , 20     
 FOR VALUE RECEIVED, FitBit, Inc., a Delaware corporation (the
“Borrower”), hereby promises to pay to [—] or its registered assigns (the “Revolving Lender”), in Dollars, in immediately available funds, at the office of MORGAN
STANLEY SENIOR FUNDING, INC. (the “Administrative Agent”) located at 1 Pierrepont Plaza, 7th Floor Brooklyn, New York, 11201 on the Maturity Date (as defined in the Credit
Agreement referred to below) the unpaid principal amount of all Revolving Loans (as defined in the Credit Agreement) made by the Revolving Lender to the Borrower pursuant to the Credit Agreement, payable at such times and in such amounts as are
specified in the Credit Agreement. 
 The Borrower promises also to pay to the Revolving Lender interest on the unpaid principal amount of
each Revolving Loan incurred by the Borrower from the Revolving Lender in like money at said office from the date such Revolving Loan is made until paid at the rates and at the times provided in Section 2.12 of the Credit Agreement. 

This Note is one of the Revolving Loan Notes referred to in the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as
it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined),
among the Borrower, the Guarantors party thereto, the Lenders party thereto, the Administrative Agent, Morgan Stanley Senior Funding, Inc., as Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing
Line Lender, and is entitled to the benefits thereof and of the other Loan Documents (as defined in the Credit Agreement). As provided in the Credit Agreement, this Note is subject to voluntary prepayment, in whole or in part, prior to the Maturity
Date and the Revolving Loans may be converted from one Type (as defined in the Credit Agreement) into another Type to the extent provided in the Credit Agreement. 

In case an Event of Default (as defined in the Credit Agreement) shall occur and be continuing, the principal of and accrued interest on this
Note may be declared to be due and payable in the manner and with the effect provided in the Credit Agreement. 
 The Borrower hereby waives
presentment, demand, protest or notice of any kind in connection with this Note. 
 THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND
BE GOVERNED BY THE LAW OF THE STATE OF NEW YORK. 
 [Signature Page Follows] 

  
 D-1-1 

 
			
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		

  
 D-1-2 

 EXHIBIT D-2 

FORM OF 
 SWING LINE NOTE

 New York, New York 

                    
    , 20     
 FOR VALUE RECEIVED, FitBit, Inc., a Delaware corporation (the
“Borrower”), hereby promises to pay to [—] or its permitted successors and assigns (the “Swing Line Lender”), in Dollars, in immediately available funds, at the
office of MORGAN STANLEY SENIOR FUNDING, INC. (the “Administrative Agent”) located at 1 Pierrepont Plaza, 7th Floor Brooklyn, New York, 11201 on the Maturity Date (as defined in
the Credit Agreement referred to below) the unpaid principal amount of all Swing Line Loans (as defined in the Credit Agreement) made by the Swing Line Lender to the Borrower pursuant to the Credit Agreement, payable at such times and in such
amounts as are specified in the Credit Agreement. 
 The Borrower promises also to pay to the Swing Line Lender interest on the unpaid
principal amount of each Swing Line Loan incurred by the Borrower from the Swing Line Lender in like money at said office from the date such Revolving Loan is made until paid at the rates and at the times provided in Section 2.12 of the
Credit Agreement. 
 This Note is one of the Swing Loan Notes referred to in the Revolving Credit and Guaranty Agreement, dated as of
August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used
herein as therein defined), among the Borrower, the Guarantors party thereto, the Lenders party thereto, the Administrative Agent, Morgan Stanley Senior Funding, Inc., as Collateral Agent, the other agents named therein and Morgan Stanley Bank,
N.A., as Issuing Bank and Swing Line Lender, and is entitled to the benefits thereof and of the other Loan Documents (as defined in the Credit Agreement). As provided in the Credit Agreement, this Note is subject to voluntary prepayment, in whole or
in part, prior to the Maturity Date. 
 In case an Event of Default (as defined in the Credit Agreement) shall occur and be continuing, the
principal of and accrued interest on this Note may be declared to be due and payable in the manner and with the effect provided in the Credit Agreement. 

The Borrower hereby waives presentment, demand, protest or notice of any kind in connection with this Note. 

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

[Signature Page Follows] 

  
 D-2-1 

 
			
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		

  
 D-2-2 

 EXHIBIT E 

FORM OF 
 SECURITY AGREEMENT

 Provided separately. 

  
 E-1 

 EXHIBIT F 

FORM OF 
 COMPLIANCE CERTIFICATE

 This Compliance Certificate is delivered to you pursuant to Section 5.1(c) of the Revolving Credit and Guaranty
Agreement, dated as of August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined
herein being used herein as therein defined), by and among FitBit, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto, Morgan Stanley Senior
Funding, Inc., as the Administrative Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank
and Swing Line Lender. 
  

	 	1.	I am the duly elected, qualified and acting [Chief Financial Officer][Principal Accounting Officer][Treasurer] or [Controller] of the Borrower. 

 

	 	2.	I have reviewed and am familiar with the contents of this Certificate. I am providing this Compliance Certificate solely in my capacity as an officer of the Borrower. 

 

	 	3.	I have reviewed the terms of the Credit Agreement and the other Loan Documents. The financial statements for the fiscal [month][year] of the Borrower ended [—]
attached hereto as Annex 1 or otherwise delivered to the Administrative Agent pursuant to the requirements of Section 5.1 of the Credit Agreement (the “Financial Statements”) present fairly in all material
respects as of the date of each such statement the financial condition and results of operations of the Borrower and its consolidated Subsidiaries on a consolidated basis in accordance with GAAP consistently applied[, subject to normal year-end
audit adjustments and the absence of footnotes]8. No Default has occurred and is continuing as of the date hereof[, except for [—]]9. There has been no material change in GAAP or in the application thereof applicable to the Borrower and its consolidated Subsidiaries since the most recent date of the audited financial statements
referred to in Section 3.4 of the Credit Agreement that has had an impact on the Financial Statements [, except for [—], the effect of which on the Financial Statements has been [—]]10. 

  

	 	4.	Attached hereto as Annex 2 are the computations showing (in reasonable detail) compliance with the covenant specified therein. 

[Signature Page Follows] 
  

 

	8 	To be included only if the Compliance Certificate is certifying the monthly financials. 

	9 	Specify the details of any Default, if any, and any action taken or proposed to be taken with respect thereto. 

	10 	If and to the extent that any change in GAAP that has occurred since the date of the audited financial statements referred to in Section 3.4 of the Credit Agreement had an impact on such financial
statements, specify the effect of such change on the financial statements accompanying this Compliance Certificate. 

  
 F-1 

 IN WITNESS WHEREOF, I have executed this Compliance Certificate as of the date first
written above. 
  

			
	FITBIT, INC.
		
	By:		  

	Name:		
	Title:		[Financial Officer]

  
 F-2 

 Annex 1 

to Exhibit F 
 [Applicable Financial
Statements to be attached if applicable] 

  
 F-3 

 Annex 2 

to Exhibit F 
 The information described herein is
as of [                     , 20    ]11, (the “Computation
Date”) and, except as otherwise indicated below, pertains to the period of four consecutive fiscal quarters ending on the Computation Date (the “Relevant Period”). 

Consolidated Total Leverage Ratio 
  

							
	a.		 Consolidated Total Debt as at the Computation Date
		$	[	—] 
	b.		 Consolidated Adjusted EBITDA12 for the Relevant Period ended on the Computation
Date
		$	[	—] 
	c.		 Ratio of line a to line b
		 	[—]:1.00	  
	d.		 Level for the purposes of the Applicable Margin
		 	Level [1][2][3]	  

  
  

	11 	Insert the last day of the respective fiscal quarter or fiscal year covered by the financial statements which are required to be accompanied by this Compliance Certificate. 

	12 	Attach hereto in reasonable detail the calculations required to arrive at Consolidated Adjusted EBITDA. 

  
 F-4 

 EXHIBIT G 

FORM OF 
 MATURITY DATE
EXTENSION REQUEST 
 Morgan Stanley Senior Funding, Inc., as Administrative Agent 

        for the Lenders parties to the 

        Credit Agreement referred to below 

1 Pierrepont Plaza 
 7th Floor 

Brooklyn, New York, 11201 
 Attention: Agency Team 

[Date] 
 Ladies and Gentlemen: 

Reference is made to the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as it may be amended, restated, amended
and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among FitBit, Inc., a Delaware
corporation, the Guarantors from time to time party thereto, the Lenders from time to time party thereto, Morgan Stanley Senior Funding, Inc., as the Administrative Agent (together with its permitted successors in such capacity, the
“Administrative Agent”) and as Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender. In accordance with Section 2.20 of the Credit Agreement, the
undersigned hereby requests [(i)] an extension of the Maturity Date from [                    ], 20[    ] to
[                    ], 20[    ], [(ii) the following changes to the Applicable Margin to be applied in determining the interest
payable on Loans of, and fees payable under the Credit Agreement to, Consenting Lenders in respect of that portion of their Commitments (and related Loans) extended to such new Maturity Date, which changes shall become effective on
[                    ], 20[    ]] [and] [(iii) the amendments or modifications to the terms of the Credit Agreement to be
effected in connection with this Maturity Date Extension Request as set forth below, which amendments shall become effective on
[                    ], 20[    ]: 

[Signature Page Follows] 

  
 G-1 

 
			
	FITBIT, INC., as the Borrower
		
	By:		  

	Name:		
	Title:		

  
 G-2 

 The undersigned consents to the requested amendments to the terms of the Credit Agreement and the
requested extension of the Maturity Date. The maximum amount of the Commitment of the undersigned with respect to which the undersigned agrees to the amendments to the terms of the Credit Agreement and the extension of the Maturity Date is set forth
under its signature. 
  

			
	Name of Institution:
	
	  

		
	By		  

	Name:		
	Title:		
	
	For any Institution requiring a second signature line:
		
	By		  

	Name:		
	Title:		

  
 G-3 

 EXHIBIT H 

FORM OF 
 COUNTERPART AGREEMENT

 This Counterpart Agreement, dated [•] (this “Counterpart Agreement”) is delivered pursuant to that certain the
Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among FitBit, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party
thereto (the “Lenders”), Morgan Stanley Senior Funding, Inc., as the Administrative Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent, the other
agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender. 
 Section 1. Pursuant to Section 5.10 of
the Credit Agreement, the undersigned hereby: 
 (a) agrees that this Counterpart Agreement may be attached to the Credit Agreement and that by the execution
and delivery hereof, the undersigned becomes a Guarantor under the Credit Agreement and agrees to be bound by all of the terms thereof; 
 (b) represents
and warrants that each of the representations and warranties set forth in the Credit Agreement and each other Loan Document and applicable to the undersigned is true and correct in all material respects as of the date hereof, except to the extent
such representations and warranties specifically relate to an earlier date, in which case such representations and warranties have been true and correct in all material respects on and as of such earlier date; provided that, in each case,
such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality in the text thereof; and 

(c) agrees to irrevocably and unconditionally guaranty to the Administrative Agent for the ratable benefit of the Beneficiaries the due and punctual payment
in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for the operation of the automatic stay under
Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) and in accordance with Article VII of the Credit Agreement. 
 Section 2.
The undersigned agrees from time to time, upon request of the Administrative Agent, to take such additional actions and to execute and deliver such additional documents and instruments as the Administrative Agent may request to effect the
transactions contemplated by, and to carry out the intent of, this Counterpart Agreement. Neither this Counterpart Agreement nor any term hereof may be changed, waived, discharged or terminated, except by an instrument in writing signed by the party
(including, if applicable, any party required to evidence its consent to or acceptance of this Counterpart Agreement) against whom enforcement of such change, waiver, discharge or termination is sought. Any notice or other communication herein
required or permitted to be given shall be given pursuant to Section 10.1 of the Credit Agreement, and all for purposes thereof, the notice address of the undersigned shall be the address as set forth on the signature page hereof. In
case any provision in or obligation under this Counterpart Agreement shall be invalid, illegal or unenforceable in any 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. 

  
 H-1 

 THIS COUNTERPART AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING, WITHOUT
LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. THE TERMS AND PROVISIONS OF SECTION 10.9(B) OF THE CREDIT
AGREEMENT ARE INCORPORATED BY REFERENCE HEREIN AS IF FULLY SET FORTH HEREIN. 
 [Remainder of page intentionally left blank] 

  
 H-2 

 IN WITNESS WHEREOF, the undersigned has caused this Counterpart Agreement to be duly
executed and delivered by its duly authorized officer as of the date above first written. 
  

			
	[NAME OF SUBSIDIARY]
	
	  

	Name:		
	Title:		[Responsible Officer]

 Address for Notices: 
  

			
			  

			  

			  

			Attention:
			Telecopier

 with a copy to: 
  

			
			  

			  

			  

			Attention:
			Telecopier

  
 H-3 

 ACKNOWLEDGED AND ACCEPTED, 

as of the date above first written: 
 MORGAN STANLEY SENIOR
FUNDING, INC., 
 as Administrative Agent 
  

			
	By:		  

	Name:		
	Title:		

  
 H-4 

 EXHIBIT I 

FORM OF 
 SOLVENCY CERTIFICATE

 [                    ],
20[    ] 
 THE UNDERSIGNED HEREBY CERTIFIES AS FOLLOWS: 

1. I am the [title of a Financial Officer] of FitBit, Inc., a Delaware corporation (the “Borrower”). 

2. Reference is made to Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as it may be amended, restated, amended and
restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined therein and not otherwise defined herein being used herein as therein defined), by and among FitBit, Inc., a Delaware
corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party thereto (the “Lenders”), Morgan Stanley Senior Funding, Inc., as the Administrative Agent (together
with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent, the other agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender. 

3. I have reviewed the Credit Agreement and other Loan Documents and the contents of this Solvency Certificate and, in connection herewith,
have reviewed such other documentation and information and, in my opinion, have made, or have caused to be made under my supervision, such examination or investigation as is necessary to enable me to express an informed opinion as to the matters
referred to herein. 
 4. Based upon my review and examination described in paragraph 3 above, I certify in my capacity as a
Financial Officer of the Borrower and not in any individual capacity that as of the date hereof, each Loan Party is, and after giving effect to the transactions contemplated by the Credit Agreement and the other Loan Documents and the incurrence of
all Indebtedness, Obligations and obligations being incurred in connection therewith, will be and will continue to be, Solvent. 
 [Remainder
of page intentionally left blank] 

  
 I-1 

 IN WITNESS WHEREOF, the undersigned has hereunto set [his/her] name as of the date first
above written. 
  

			
	FITBIT, INC.
	
	  

	Name:		
	Title:		[Financial Officer]

  
 I-2 

  
 

 
 EXHIBIT J 

Fax: 212-507-5010 
 Phone: 443-627-4555 

Application and Agreement for Irrevocable Standby Letter of Credit 

NOTE: Please type applications to ensure legibility and accuracy. Handwritten applications will not be accepted. 

We reserve the right to return applications for clarification. 

Date: mm/dd/yyyy 
 The undersigned applicant
(“Applicant”) hereby requests Morgan Stanley Bank, N.A., Morgan Stanley Senior Funding, Inc., and/or their affiliates or subsidiaries (“Bank”) to issue an irrevocable standby letter of credit (together with any
replacements, extensions or modifications, the “Credit”) pursuant to this Application and Agreement for Irrevocable Standby Letter of Credit (this “Application and Agreement”). Applicant agrees that the Credit shall
be subject to the terms and provisions of this Application and Agreement. 
  

			
	 Applicant/Borrower (Full Name & Address):
  

 
 Contact Name:
  

Telephone:
  

Fax:
  

Email Address:
		 As an Accommodation for (if another Party other than

Applicant/Borrower) (Full Name & Address):
  

Contact Name:
  

Telephone:
  

Fax:
  

Email Address:
  

Is this party related to
Applicant?    Y   ̈    or    N   ̈

 
 If yes, what is the relationship:

 
 If no, why is Applicant applying for a Credit for a non-related party:

		
	 Beneficiary (Full Name & Address):
  

Contact Name:
  

Telephone:
  

Fax:
  

Email Address:
		 Amount of Credit (in Numbers):
  

If not in U.S. Dollars, indicate Currency:
  

Expiration Date (Cannot Exceed 1 Year):

    mm/dd/yyyy

	
	 Brief Explanation of Underlying Transaction (including Name and Date of Agreement governing Underlying Transaction):

    

  
 J-1 

			
	
Y   ̈    or    N 
  ̈
		Expiry date to be automatically extendable (“evergreen”) every 1 year , with      days notification for non-extension (i.e., 60 days), with a final expiration date of mm/dd/yyyy. After
issuance of the Credit, if Applicant desires that Bank give a notice of non-extension under the Credit to Applicant, Applicant should so notify the Bank in writing more than 5 business days in advance of the last day on which a timely notice of
non-extension may be given to beneficiary. Whether or not requested to do so by Applicant, Bank shall have the right to give such notice or take such action, to fail or refuse to do so, or to fail to retain proof of doing so. If Bank gives such
notice or takes such action at Applicant’s request, then Applicant shall obtain beneficiary’s acknowledgement thereof and, in the case of Credit termination, return of the original Credit.
		
	
Y   ̈    or    N 
  ̈
		Allow for partial draws on this Credit.
		
	
Y   ̈    or    N 
  ̈
		Allow this Credit to be transferrable.
	
	 Credit to be available for payment against beneficiary’s draft(s) drawn at sight on Bank, accompanied by a signed
statement of the beneficiary worded as follows (state wording that is to appear in the statement accompanying the beneficiary’s draft or state “None” if beneficiary’s draft drawn at sight is the only item required for
payment):
  

 THE APPLICANT AGREES WITH AND FOR THE BENEFIT OF BANK AS FOLLOWS: 

 

	1.	Application and Agreement. Applicant affirms that it has fully read and agrees to this Application and Agreement. In consideration of Bank’s issuance of the Credit, Applicant agrees to be bound by the
agreements set forth in this Application and Agreement and the terms and conditions of any credit agreement, reimbursement agreement or other agreement between Bank and Applicant with respect to the issuance of letters of credit and the
reimbursement of amounts drawn thereunder. 

  

	2.	Issuance of Credit. Subject to the terms and conditions of this Application and Agreement, Bank may, in its sole and complete discretion, issue the Credit for the account of the Applicant; provided that,
the terms and provisions of the Credit and this Application and Agreement therefor shall be satisfactory to Bank in its discretion. Applicant understands and agrees that the Credit will be subject to the Uniform Customs and Practice for Documentary
Credits of the International Chamber of Commerce, Publication 600 or any subsequent version currently in effect and in use by Bank (“UCP”) or to the International Standby Practices of the International Chamber of Commerce, Publication 590
or any subsequent version currently in effect and in use by Bank (“ISP98”), at Bank’s discretion and in any event, unless otherwise specified in the Credit, such Credit shall be subject to the laws of the State of New York
without reference to the chosen jurisdiction’s provisions regarding conflicts of laws. In issuing the Credit, Bank is expressly authorized to make such changes from the terms set forth in this Application and Agreement as Bank, in its sole and
complete discretion, may deem advisable. Applicant is responsible for approving the text of the Credit as submitted to and as issued by Bank and as received by the beneficiary. Bank’s recommendation or drafting of text or Bank’s use or
non-use or refusal to use text submitted by Applicant shall not affect Applicant’s ultimate responsibility for the final text of the Credit. Applicant agrees that the Credit shall be conclusively presumed to be in proper form unless Applicant
notifies Bank in writing of any inconsistency in the Credit within 3 business days of its submission and issuance. 

  

	3.	Applicant. The word “Applicant” in this Application and Agreement refers to each signer (other than the Bank) of this Application and Agreement. If this Application and Agreement is signed by
more than one Applicant, their obligations under this Application and Agreement shall be joint and several and each Applicant hereby waives all suretyship defenses such Applicant may now or hereafter have with respect to any obligations under this
Application and Agreement. 

  

	4.	Representations and Warranties. Applicant warrants that no transaction involved in connection with this Application and Agreement, if any, is in violation of U.S. Treasury Foreign Assets Control
Regulations or any applicable law. 

  

	5.	Indemnification. Applicant will indemnify and hold Bank (including its officers, directors, employees and agents) harmless from and against (a) all loss or damage arising out of the issuance by Bank,
or any other action taken by any such indemnified party in connection with the Credit including any loss or damage arising in whole or in part from the negligence of the party seeking indemnification, but excluding any loss or damage resulting from
the gross negligence or willful misconduct of the party seeking indemnification, (b) all costs and expenses (including reasonable attorneys’ fees and allocated costs of in-house counsel and legal expenses) of all claims or legal
proceedings arising out of the issuance and all actions arising from or relating 

  
 J-2 

	 	
to issuance by Bank of the Credit or incident to the collection of amounts owed by Applicant hereunder or the enforcement of the rights of Bank hereunder, including, without limitation, legal
proceedings related to any court order, injunction, or other process or decree restraining or seeking to restrain Bank from paying any amount under the Credit, and (c) all claims, losses, damages, suits, costs or expenses (including reasonable
attorneys’ fees and allocated costs of in-house counsel, and legal expenses) arising out of Applicant’s failure to timely procure licenses or comply with applicable laws, regulations or rules, or any other conduct or failure of Applicant
relating to or affecting the Credit. 

  

	6.	Electronic Transmissions. Bank is authorized to accept and process this Application and Agreement, the Credit and any amendments, transfers, assignments of proceeds, consents, waivers and all documents
relating to the Credit or the Application and Agreement which are sent to Bank by electronic transmission, including SWIFT, electronic mail, telex, telecopy, telefax, courier, mail or other computer generated telecommunications and such electronic
communication shall have the same legal effect as if written and shall be binding upon and enforceable against the Applicant. Bank may, but shall not be obligated to, require authentication of such electronic transmission or that Bank receives
original documents prior to acting on such electronic transmission. Separate and independent from any other indemnity set forth in this Application and Agreement, Applicant will indemnify and hold Bank (including its officers, directors, employees
and agents) harmless from and against any and all loss, liability, damage or expenses of whatever kind and nature arising from Bank’s acceptance and/or delivery of information by electronic transmission. 

 

	7.	Governing Law. This Application and Agreement will be governed by and interpreted in accordance with the laws of the State of New York. Applicant and the Bank agree, to the extent permitted under
applicable law, to waive any right to a trial by jury in any action or proceeding with respect to any dispute or controversy under this Application and Agreement and any credit agreement, reimbursement agreement or other agreement between Bank and
Applicant with respect to the issuance of letters of credit and the reimbursement of amounts drawn thereunder and hereby agree that such action or proceeding will be tried before a judge without a jury. 

 

	8.	Miscellaneous. This Application and Agreement shall be binding on Applicant’s heirs, executors, administrators, successors and permitted assigns, and shall inure to the benefit of Bank’s
successors and assigns. Any provisions of this Application and Agreement which may be determined by competent authority to be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. This
Application and Agreement may be signed and delivered by facsimile transmission. This Application and Agreement contains the final, complete and exclusive understanding of, and supersedes all prior or contemporaneous, oral or written, agreements,
understandings, representations and negotiations between the parties relating to the subject matter and this Application and Agreement. 

  

			
	Applicant Name:
	
	Signature of Authorized Signatory of Applicant:  x
		
	Name of Authorized Signatory (Please Print):		 Telephone Number:

(     )    -

		
	Title of Authorized Signatory:		Email Address:

  
 J-3 

 INCREMENTAL COMMITMENT JOINDER AGREEMENT NO. 1 

This INCREMENTAL COMMITMENT JOINDER AGREEMENT NO. 1, dated as of October 6, 2014 (as amended, restated, supplemented or otherwise
modified from time to time, this “Agreement”), is by and among Barclays Bank PLC (in its capacity as an Incremental Revolving Lender (as defined in the Credit Agreement referenced below), the “Additional Lender”),
Morgan Stanley Senior Funding, Inc., as Administrative Agent (the “Administrative Agent”), FitBit, Inc., in its capacity as the Borrower under the Credit Agreement referenced below, and FitBit International, LLC, in its capacity as
a Guarantor under the Credit Agreement referenced below. 
 RECITALS: 

WHEREAS, reference is made to the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as amended, restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”) among FitBit, Inc., FitBit International, LLC, Morgan Stanley Senior Funding, Inc., as Administrative Agent, and the financial institutions from time to
time party thereto as “Lenders” (the “Lenders”) (capitalized terms used but not defined herein have the meanings given to such terms in the Credit Agreement); 

WHEREAS, on the terms and subject to the conditions of the Credit Agreement (including, without limitation, Section 2.19 thereof), the
Borrower has requested a Commitment Increase in the aggregate amount of $10,000,000 (such Commitment Increase, the “Requested Commitment Increase”); and 

WHEREAS, the Additional Lender has agreed to extend the Requested Commitment Increase to the Borrower in accordance with the terms hereof.

 AGREEMENT: 
 NOW,
THEREFORE, in consideration of the premises and the agreements, provisions and covenants herein contained, the parties hereto agree as follows: 

1. Requested Commitment Increase. 

(a) Subject to the terms and conditions set forth herein and in the Credit Agreement and in reliance upon the representations and warranties
of the Loan Parties contained herein and in the Credit Agreement, the Additional Lender agrees to provide to the Borrower on the Effective Date, the entire amount of the Requested Commitment Increase. The Requested Commitment Increase shall
constitute a Commitment of the Additional Lender and each loan made pursuant to such Requested Commitment Increase shall constitute a Revolving Loan subject to all of the terms and provisions of the Credit Agreement and other Loan Documents
pertaining thereto. The Additional Lender shall be deemed to constitute a Lender for all purposes of the Credit Agreement and the other Loan Documents. 

(b) Upon the effectiveness of this Agreement, the Credit Agreement shall be deemed amended to the extent (but only to the extent) necessary to
reflect the existence and terms of the Requested Commitment Increase set forth herein, the status of the Additional Lender as a Lender, and the Commitment of the Additional Lender without the need for execution and delivery of a separate amendment
to the Credit Agreement. 
 2. Representations and Warranties. The Borrower and each other Loan Party hereby represents and warrants
to the Administrative Agent and the Additional Lender that, as of the date hereof: 
 (a) Each of the conditions precedent set forth in
Section 2.19 (as applicable) of the Credit Agreement has been satisfied. 

 (b) This Agreement has been duly authorized, executed and delivered by each Loan Party and
constitutes the legal, valid and binding obligation of each Loan Party, enforceable against them in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights
generally and subject to general principles of equity, regardless of whether considered in a proceeding in equity or at law. 
 (c) The
execution, delivery and performance of this Agreement and the other documents executed in connection herewith (a) have been duly authorized by all necessary corporate or other action on behalf of each Loan Party and (b) will not
(i) contravene any Loan Party’s respective Operating Documents, (ii) except as could not reasonably be expected to have a Material Adverse Effect, violate any Requirements of Law applicable to any Loan Party, (iii) except as
could not reasonably be expected to have a Material Adverse Effect, violate or result in a default under any indenture or other agreement or instrument binding upon any Loan Party or their respective assets, or give rise to a right thereunder to
require any payment, repurchase or redemption to be made by any Loan Party, or give rise to a right of, or result in, termination, cancellation or acceleration of any obligation thereunder or (iv) result in the creation or imposition of any
Lien on any asset of any Loan Party, except Liens created under the Loan Documents and the ABL Documents. 
 (d) The representations and
warranties of the Borrower set forth in the Credit Agreement and the other Loan Documents are true and correct in all material respects (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such
representations and warranties are true and correct in all respects) on and as of the Effective Date except that (i) for purposes of this clause (d), the representations and warranties contained in Section 3.4(a) of the Credit Agreement
shall be deemed to refer to the most recent statements furnished pursuant to clauses (a) and (b), respectively, of Section 5.1 of the Credit Agreement and (ii) to the extent that such representations and warranties specifically refer
to an earlier date, they shall be true and correct in all material respects as of such earlier date (other than to the extent qualified by materiality or “Material Adverse Effect”, in which case, such representations and warranties shall
be true and correct in all respects). 
 (e) No Default or Event of Default has occurred and is continuing or shall result from the
occurrence of the Effective Date. 
 3. Notice. For purposes of the Credit Agreement, the initial notice address of the Additional
Lender shall be as set forth below its signature below. 
 4. Conditions to Effectiveness. This Agreement shall become effective upon
the date (the “Effective Date”) on which all of the following conditions precedent shall have been satisfied or duly waived: 

(a) the execution and delivery of this Agreement by the Loan Parties, the Additional Lender and the Administrative Agent; 

(b) the receipt by the Administrative Agent and the Additional Lender, as applicable, of all fees and reimbursable expenses that have been
invoiced as of the Effective Date (or, in the case of reimbursable expenses, at least 3 Business Days prior to the Effective Date) that are due and payable by any Loan Party under the Credit Agreement; 

 (c) the receipt by the Administrative Agent and the Additional Lender of a certificate executed
by a Responsible Officer of the Borrower (i) certifying that all representations and warranties set forth in Section 2 are true and correct, (ii) attaching resolutions approving and authorizing the execution and delivery of this
Agreement and certifying on behalf of itself and each of the other Loan Parties that the Operating Documents of each Loan Party have not been amended or otherwise modified since the Closing Date and (iii) demonstrating that after giving effect
to the incurrence of the Requested Commitment Increase, and assuming a full drawing of such Commitment Increase, but without “netting” the cash proceeds thereof, the Consolidated Total Leverage Ratio, calculated on a Pro Forma Basis as of
the last day of the fiscal quarter most recently ended for which financial statements are required to be delivered pursuant to Section 5.1 of the Credit Agreement, shall not exceed the maximum Consolidated Total Leverage Ratio permitted under
Section 6.12 of the Credit Agreement for such period. 
 (d) The Additional Lender and the Administrative Agent shall have received the
following (in each case, in form and substance reasonably satisfactory to the Additional Lender): (i) a legal opinion of counsel to the Loan Parties substantially consistent with the most recent legal opinion delivered to the Administrative
Agent and (ii) a Solvency Certificate substantially in the form attached as Exhibit I to the Credit Agreement, certifying that Borrower, individually and together with its Subsidiaries, is and will be Solvent after giving effect to this
Agreement. 
 (e) The Additional Lender shall have received, at least three Business Days prior to the Effective Date, all documentation and
other information about the Loan Parties and Restricted Subsidiaries that it shall have reasonably determined is required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations,
including without limitation the USA Patriot Act 
 (f) The Administrative Agent shall have received for the account of the Additional
Lender an upfront fee equal to 0.50% of the Commitment Increase provided by such Additional Lender. 
 5. Reaffirmation. Each Loan
Party, as of the Effective Date, hereby (a) acknowledges and agrees that the Requested Commitment Increase is a Commitment under the Credit Agreement and that the Additional Lender is a Lender under the Credit Agreement, and that all of such
Loan Party’s obligations under the Loan Documents to which it is a party are reaffirmed and remain in full force and effect on a continuous basis, (b) acknowledges, agrees and reaffirms that each Lien granted by it to the Collateral Agent
for the benefit of the Secured Parties and the guaranties made in favor of the Administrative Agent by Loan Parties under the Credit Agreement and the other Loan Documents are, and shall remain, in full force and effect after giving effect to this
Agreement, (c) agrees that the Secured Obligations shall be deemed to include all new Obligations arising pursuant to this Agreement and (e) agrees that the Guaranteed Obligations shall be deemed to include all new Obligations arising
pursuant to this Agreement. 
 6. Amendment, Modification and Waiver. This Agreement may not be amended, modified or waived except by
an instrument or instruments in writing signed and delivered on behalf of each of the parties hereto; provided, however, that from and after the date hereof any amendments, modifications or waivers shall be governed by the terms of the Credit
Agreement. 
 7. Entire Agreement. This Agreement, the Credit Agreement and the other Loan Documents constitute the entire agreement
among the parties with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the parties or any of them with respect to the subject matter hereof. 

 8. GOVERNING LAW. ANY RIGHT TO TRIAL BY JURY WITH RESPECT TO ANY ACTION, SUIT,
PROCEEDING OR CLAIM ARISING IN CONNECTION WITH OR AS A RESULT OF ANY MATTER REFERRED TO IN THIS AGREEMENT LETTER IS HEREBY IRREVOCABLY WAIVED BY THE PARTIES HERETO. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE
STATE OF NEW YORK WITHOUT REGARD TO CONFLICT OF LAW PRINCIPLES THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. The jurisdiction and waiver of venue provisions in Section 10.9 of the Credit
Agreement are incorporated herein by reference. 
 9. Counterparts. This 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 taken together shall constitute one and the same agreement. Signature pages may be detached from multiple separate
counterparts and attached to a single counterpart. Delivery of an executed signature page of this Agreement by facsimile transmission or electronic transmission shall be as effective as delivery of a manually executed counterpart of this Agreement.

 10. Existing Revolving Loans. On the Effective Date, pursuant to Section 2.19(b) of the Credit Agreement, the Administrative
Agent shall reallocate the Revolving Loans outstanding immediately prior to the Effective Date (the “Existing Revolving Loans”) such that each Lender with a Commitment assigns to the Additional Lender, and the Additional Lender
purchases from each of the Lenders, at the principal amount thereof (together with accrued interest), such interests in the Existing Revolving Loans as shall be necessary in order that, after giving effect to all such assignments and purchases, such
Existing Revolving Loans will be held by existing Lenders and the Additional Lender ratably in accordance with their Commitments after give effect to the Effective Date and the Requested Commitment Increase. 

11. Status as a Loan Document. (a) This Agreement constitutes a Loan Document and joinder agreement, as described in
Section 2.19(a)(4) of the Credit Agreement. As of the Effective Date, each reference in the Credit Agreement to “this Agreement,” “hereunder,” “hereof,” “herein,” or words of
like import, and each reference in the other Loan Documents to the Credit Agreement (including, without limitation, by means of words like “thereunder”, “thereof” and words of like import), shall mean and be a
reference to the Credit Agreement as amended by this Agreement. 
 (b) The execution, delivery and effectiveness of this Agreement shall
not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Agent, any Lender or any Issuing Bank under the Credit Agreement or any Loan Document, or constitute a waiver or amendment of any other provision of
the Credit Agreement or any Loan Document (as amended hereby) except as and to the extent expressly set forth herein. 
 [Remainder of
Page Intentionally Left Blank; Signature Page Follows] 

 IN WITNESS WHEREOF, each of the undersigned has caused this Agreement to be duly executed as of
the date set forth above. 
  

			
	BARCLAYS BANK PLC, as Additional Lender
		
	By:		/s/ Vanessa Kurbatskiy
	Name:		Vanessa Kurbatskiy
	Its:		Vice President
	
	Notice Address:
	
	 745 Seventh Avenue
 New York, NY
10019

	Attn: Luke Syme

 Incremental Commitment Joinder Agreement No. 1 

			
	 MORGAN STANLEY SENIOR FUNDING, INC.,

as Administrative Agent

		
	By:		/s/ Jonathon Rauen
	Name:		 Jonathon Rauen

	Its:		 Authorized Signatory

 Incremental Commitment Joinder Agreement No. 1 

			
	FITBIT, INC., as the Borrower
		
	By:		/s/ William Zerella
	Name:		William Zerella
	Its:		Chief Financial Officer

  

			
	FITBIT INTERNATIONAL, LLC
		
	By:		FitBit, Inc.
	Its:		Sole Member
		
	By:		 /s/ William Zerella

	Name:		William Zerella
	Its:		Chief Financial Officer

 Incremental Commitment Joinder Agreement No. 1 

 COUNTERPART AGREEMENT 

This Counterpart Agreement, dated April 10, 2015 (this “Counterpart Agreement”) is delivered pursuant to that certain
the Revolving Credit and Guaranty Agreement, dated as of August 13, 2014 (as it may be amended, restated, amended and restated, modified, extended and/or supplemented from time to time, the “Credit Agreement”; the terms defined
therein and not otherwise defined herein being used herein as therein defined), by and among FitBit, Inc., a Delaware corporation (the “Borrower”), the Guarantors from time to time party thereto, the Lenders from time to time party
thereto (the “Lenders”), Morgan Stanley Senior Funding, Inc., as the Administrative Agent (together with its permitted successors in such capacity, the “Administrative Agent”) and as Collateral Agent, the other
agents named therein and Morgan Stanley Bank, N.A., as Issuing Bank and Swing Line Lender. 
 Section 1. Pursuant to Section 5.10 of
the Credit Agreement, the undersigned hereby: 
 (a) agrees that this Counterpart Agreement may be attached to the Credit Agreement and that by the
execution and delivery hereof, the undersigned becomes a Guarantor under the Credit Agreement and agrees to be bound by all of the terms thereof; 

(b) represents and warrants that each of the representations and warranties set forth in the Credit Agreement and each other Loan Document and applicable
to the undersigned is true and correct in all material respects as of the date hereof, except to the extent such representations and warranties specifically relate to an earlier date, in which case such representations and warranties have been true
and correct in all material respects on and as of such earlier date; provided that, in each case, such materiality qualifier shall not be applicable to any representations and warranties that already are qualified or modified by materiality
in the text thereof; and 
 (c) agrees to irrevocably and unconditionally guaranty to the Administrative Agent for the ratable benefit of the
Beneficiaries the due and punctual payment in full of all Obligations when the same shall become due, whether at stated maturity, by required prepayment, declaration, acceleration, demand or otherwise (including amounts that would become due but for
the operation of the automatic stay under Section 362(a) of the Bankruptcy Code, 11 U.S.C. § 362(a)) and in accordance with Article VII of the Credit Agreement. 

Section 2. The undersigned agrees from time to time, upon request of the Administrative Agent, to take such additional actions and to execute and
deliver such additional documents and instruments as the Administrative Agent may request to effect the transactions contemplated by, and to carry out the intent of, this Counterpart Agreement. Neither this Counterpart Agreement nor any term hereof
may be changed, waived, discharged or terminated, except by an instrument in writing signed by the party (including, if applicable, any party required to evidence its consent to or acceptance of this Counterpart Agreement) against whom enforcement
of such change, waiver, discharge or termination is sought. Any notice or other communication herein required or permitted to be given shall be given pursuant to Section 10.1 of the Credit Agreement, and all for purposes thereof, the
notice address of the undersigned shall be the address as set forth on the signature page hereof. In case any provision in or obligation under this Counterpart Agreement shall be invalid, illegal or unenforceable in any 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. 

THIS COUNTERPART AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER (INCLUDING, WITHOUT LIMITATION, ANY CLAIMS SOUNDING IN CONTRACT LAW OR TORT
LAW ARISING OUT OF THE SUBJECT MATTER HEREOF AND 

 
ANY DETERMINATIONS WITH RESPECT TO POST-JUDGMENT INTEREST) SHALL BE GOVERNED BY, AND SHALL BE CONSTRUED AND ENFORCED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK WITHOUT REGARD TO
CONFLICT OF LAWS PRINCIPLES THEREOF THAT WOULD RESULT IN THE APPLICATION OF ANY LAW OTHER THAN THE LAW OF THE STATE OF NEW YORK. THE TERMS AND PROVISIONS OF SECTION 10.9(B) OF THE CREDIT AGREEMENT ARE INCORPORATED BY REFERENCE HEREIN AS
IF FULLY SET FORTH HEREIN. 
 [Remainder of page intentionally left blank] 

 IN WITNESS WHEREOF, the undersigned has caused this Counterpart Agreement to be duly
executed and delivered by its duly authorized officer as of the date above first written. 
  

			
	FITSTAR, INC.
	
	 /s/ James Park

	Name:		James Park
	Title:		President, Chief Executive Officer and Secretary

 Address for Notices: 

FitStar, Inc. 
 80 Langton Street

 San Francisco, California 94103 

Attention: Meena Srinivasan 

Email: 
 with a copy to: 

Fenwick & West LLP 
 801
California Street 
 Mountain View, California 

Attention: David Michaels 
 Email:

 [Signature Page to Counterpart Agreement] 

					
	ACKNOWLEDGED AND ACCEPTED,
	as of the date above first written:
	
	MORGAN STANLEY SENIOR FUNDING, INC., as Administrative Agent
		
	By:		 /s/ Stephen B. King

			Name:		Stephen B. King
			Title:		Vice President

 [Signature Page to Counterpart Agreement]

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