Document:

Exhibit 4.2

    

    

    EXECUTION VERSION

    

    

    AMENDED AND RESTATED GUARANTY

    

    

    THIS AMENDED AND RESTATED GUARANTY (as amended, restated, supplemented or otherwise modified from time to time, this “Guaranty”) is made as of June 28, 2019, by and among each of the
      undersigned (the “Initial Guarantors” and along with any additional Subsidiaries of the Borrower which become parties to this Guaranty by executing a supplement hereto in the form attached as Annex I, the “Guarantors”) in favor of the
      Administrative Agent, for the ratable benefit of the Holders of Guaranteed Obligations (as defined below), under the Credit Agreement referred to below.

    

    

    WITNESSETH

    

    

    WHEREAS, Tredegar Corporation, a Virginia corporation (the “Borrower”), the institutions from time to time parties thereto as lenders (the “Lenders”), and JPMorgan Chase Bank, N.A., in
      its capacity as administrative agent (the “Administrative Agent”), are entering into that certain Amended and Restated Credit Agreement dated as of June 28, 2019, pursuant to which the Existing Credit Agreement (as defined in the Credit
      Agreement) has been amended and restated in its entirety (as so amended, and as the same may be amended, modified, supplemented and/or restated, and as in effect from time to time, the “Credit Agreement”), providing, subject to the terms and
      conditions thereof, for extensions of credit and other financial accommodations to be made by the Lenders to the Borrower;

    

    

    WHEREAS, the Credit Agreement, among other things, re-evidences the Borrower’s outstanding obligations under the Existing Credit Agreement and provides, subject to the terms and conditions thereof,
      for extensions of credit and other financial accommodations to be made by the Lenders to the Borrower;

    

    

    WHEREAS, certain of the Initial Guarantors guaranteed the payment of the Borrower’s obligations under the Existing Credit Agreement pursuant to the Guaranty dated as of March 1, 2016 (the “Existing
        Guaranty”);

    

    

    WHEREAS, each Initial Guarantor party to the Existing Guaranty wishes to (i) reaffirm its obligations under the terms of the Existing Guaranty with respect to the amounts owning by the Borrower under
      the Credit Agreement and (ii) amend and restate the terms of the Existing Guaranty as set forth herein;

    

    

    WHEREAS, it is a condition precedent to the extensions of credit by the Lenders under the Credit Agreement that each of the Guarantors (constituting all of the Subsidiaries of the Borrower required
      to execute this Guaranty pursuant to Section 5.09 of the Credit Agreement) execute and deliver this Guaranty, whereby each of the Guarantors shall guarantee the payment when due of all Obligations; and

    

    

    WHEREAS, in consideration of the direct and indirect financial and other support that the Borrower has provided, and such direct and indirect financial and other support as the Borrower may in the
      future provide, to the Guarantors, and in order to induce the Lenders and the Administrative Agent to enter into the Credit Agreement, each of the Guarantors is willing to guarantee the Secured Obligations.

    

    

    NOW, THEREFORE, in consideration of the foregoing premises and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as
      follows:

    

    

    SECTION 1.  Definitions.  Terms defined in the Credit Agreement and not otherwise defined herein have, as used herein, the respective meanings provided for therein.

     

    

    
      
        

    

    SECTION 2.  Representations, Warranties and Covenants.  Each of the Guarantors represents and warrants (which representations and warranties shall be deemed to have been renewed at the time
      of the making, conversion or continuation of any Loan or issuance of any Letter of Credit) that:

    

    

    (A)  It is a corporation, partnership or limited liability company duly and properly incorporated or organized, as the case may be, validly existing and (to the extent such concept
      applies to such entity) in good standing under the laws of its jurisdiction of incorporation, organization or formation and has all requisite authority to conduct its business in each jurisdiction in which its business is conducted, except to the
      extent that the failure to have such authority could not reasonably be expected to have a Material Adverse Effect.

    

    

    (B)  It (to the extent applicable) has the requisite corporate, partnership or limited liability company, as applicable, power and authority and legal right to execute and deliver
      this Guaranty and to perform its obligations hereunder.  The execution and delivery by each Guarantor of this Guaranty and the performance by each of its obligations hereunder have been duly authorized by requisite corporate, partnership or limited
      liability company, as applicable, action, and this Guaranty constitutes a legal, valid and binding obligation of such Guarantor, respectively, enforceable against such Guarantor, respectively, in accordance with its terms, except as enforceability
      may be limited by bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally.

    

    

    (C)  Neither the execution and delivery by it of this Guaranty, nor the consummation by it of the transactions herein contemplated, nor compliance by it with the provisions hereof
      will (i) violate any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on it or its articles or certificate of incorporation (or equivalent charter documents), limited liability company or partnership agreement,
      certificate of partnership, articles or certificate of organization, by-laws, or operating agreement or other management agreement, as the case may be, or the provisions of any indenture, instrument or agreement to which the Borrower or any of its
      Subsidiaries is a party or is subject, or by which it, or its property, is bound, or (ii) conflict with, or constitute a default under, or result in, or require, the creation or imposition of any Lien in, of or on its property pursuant to the terms
      of, any such indenture, instrument or agreement (other than any Loan Document).  No order, consent, adjudication, approval, license, authorization, or validation of, or filing, recording or registration with, or exemption by, or other action in
      respect of any governmental or public body or authority, or any subdivision thereof, which has not been obtained by it, is required to be obtained by it in connection with the execution, delivery and performance by it of, or the legality, validity,
      binding effect or enforceability against it of, this Guaranty.

    

    

    In addition to the foregoing, each of the Guarantors covenants that, so long as any Lender has any Commitment outstanding under the Credit Agreement or any amount payable under the Credit Agreement
      or any other Guaranteed Obligations (other than unasserted contingent indemnification obligations not yet due and payable) shall remain unpaid, it will fully comply with those covenants and agreements of the Borrower applicable to such Guarantor set
      forth in the Credit Agreement.

    

    

    SECTION 3.  Reaffirmations and Guaranty.  Each Initial Guarantor party to the Existing Guaranty hereby (a) consents to the Credit Agreement and the transactions contemplated thereby and (b)
      affirms its obligations under, and the terms and conditions of, the Existing Guaranty and agrees that such obligations remain in full force and effect and are hereby ratified, reaffirmed and confirmed. Each Initial Guarantor party to the Existing
      Guaranty acknowledges and agrees with the Administrative Agent that the Existing Guaranty is amended, restated, and superseded in its entirety pursuant to the terms hereof.

     

    

    
      
        

    

    Furthermore,  each of the Guarantors hereby unconditionally guarantees, jointly with the other Guarantors and severally, the full and punctual payment and performance when due (whether at stated maturity, upon
      acceleration or otherwise) of the Obligations, including, without limitation, (i) the principal of and interest on each Loan made to the Borrower pursuant to the Credit Agreement, (ii) any obligations of the Borrower to reimburse LC Disbursements (“Reimbursement
        Obligations”) and (iii) all other amounts payable by the Borrower or any of its Subsidiaries under the Credit Agreement and the other Loan Documents and also including, without limitation, all Swap Obligations and Banking Services Obligations
      (all of the foregoing being referred to collectively as the “Guaranteed Obligations” and the Secured Parties (as defined in) the Credit Agreement being referred to collectively in this Guaranty as the “Holders of Guaranteed Obligations”). 
      Upon (x) the failure by the Borrower or any of its Subsidiaries, as applicable, to pay punctually any such amount, and (y) such failure continuing beyond any applicable grace or notice and cure period, each of the Guarantors agrees that it shall
      forthwith on demand pay such amount at the place and in the manner specified in the Credit Agreement, any Swap Agreement, any Banking Services Agreement or the relevant Loan Document, as the case may be.  Each of the Guarantors hereby agrees that
      this Guaranty is an absolute, irrevocable and unconditional guaranty of payment and is not a guaranty of collection.

    

    

    SECTION 4.  Limitation on Enforcement.  This Guaranty may be enforced only by the action of the Administrative Agent acting individually or upon instructions of the Required Lenders and no
      other Holder of Guaranteed Obligations shall have any right individually to seek to enforce this Guaranty, it being understood that such rights and remedies may be exercised by the Administrative Agent for the benefit of the Holders of Guaranteed
      Obligations under the terms of the Credit Agreement.  This Guaranty may not be enforced against any director, officer, employee or stockholder of the Guarantors.

    

    

    SECTION 5.  Guaranty Unconditional.  The obligations of each of the Guarantors hereunder shall be unconditional and absolute and, without limiting the generality of the foregoing, shall not
      be released, discharged or otherwise affected by:

    

    

    (A)  any extension, renewal, settlement, indulgence, compromise, waiver or release of or with respect to the Guaranteed Obligations or any part thereof or any agreement relating
      thereto, or with respect to any obligation of any other guarantor of any of the Guaranteed Obligations, whether (in any such case) by operation of law or otherwise, or any failure or omission to enforce any right, power or remedy with respect to the
      Guaranteed Obligations or any part thereof or any agreement relating thereto, or with respect to any obligation of any other guarantor of any of the Guaranteed Obligations;

    

    

    (B)  any modification or amendment of or supplement to the Credit Agreement, any Swap Agreement, any Banking Services Agreement or any other Loan Document, including, without
      limitation, any such amendment which may increase the amount of, or the interest rates applicable to, any of the Obligations guaranteed hereby;

    

    

    (C)  any release, surrender, compromise, settlement, waiver, subordination or modification, with or without consideration, of any collateral securing the Guaranteed Obligations or
      any part thereof, any other guaranties with respect to the Guaranteed Obligations or any part thereof, or any other obligation of any person or entity with respect to the Guaranteed Obligations or any part thereof, or any nonperfection or invalidity
      of any direct or indirect security for the Guaranteed Obligations;

    

    

    (D)  any change in the corporate, partnership or other existence, structure or ownership of the Borrower or any other guarantor of any of the Guaranteed Obligations, or any
      insolvency, bankruptcy, reorganization or other similar proceeding affecting the Borrower or any other guarantor of the Guaranteed Obligations, or any of their respective assets or any resulting release or discharge of any obligation of the Borrower
      or any other guarantor of any of the Guaranteed Obligations;

     

    

    
      
        

    

    (E)  the existence of any claim, setoff or other rights which the Guarantors may have at any time against the Borrower, any other guarantor of any of the Guaranteed Obligations,
      the Administrative Agent, any Holder of Guaranteed Obligations or any other Person, whether in connection herewith or in connection with any unrelated transactions; provided that nothing herein shall prevent the assertion of any such claim by
      separate suit or compulsory counterclaim;

    

    

    (F)  the enforceability or validity of the Guaranteed Obligations or any part thereof or the genuineness, enforceability or validity of any agreement relating thereto or with
      respect to any collateral securing the Guaranteed Obligations or any part thereof, or any other invalidity or unenforceability relating to or against the Borrower or any other guarantor of any of the Guaranteed Obligations, for any reason related to
      the Credit Agreement, any Swap Agreement, any Banking Services Agreement, any other Loan Document, or any provision of applicable law, decree, order or regulation of any jurisdiction purporting to prohibit the payment by the Borrower or any other
      guarantor of the Guaranteed Obligations, of any of the Guaranteed Obligations or otherwise affecting any term of any of the Guaranteed Obligations;

    

    

    (G)  the failure of the Administrative Agent to take any steps to perfect and maintain any security interest in, or to preserve any rights to, any security or collateral for the
      Guaranteed Obligations, if any;

    

    

    (H)  the election by, or on behalf of, any one or more of the Holders of Guaranteed Obligations, in any proceeding instituted under Chapter 11 of Title 11 of the United States Code
      (11 U.S.C. 101 et seq.) (the “Bankruptcy Code”), of the application of Section 1111(b)(2) of the Bankruptcy Code;

    

    

    (I)    any borrowing or grant of a security interest by the Borrower, as debtor-in-possession, under Section 364 of the Bankruptcy Code;

    

    

    (J)    the disallowance, under Section 502 of the Bankruptcy Code, of all or any portion of the claims of the Holders of Guaranteed Obligations or the Administrative Agent for
      repayment of all or any part of the Guaranteed Obligations;

    

    

    (K)  the failure of any other guarantor to sign or become party to this Guaranty or any amendment, change, or reaffirmation hereof; or

    

    

    (L)  any other act or omission to act or delay of any kind by the Borrower, any other guarantor of the Guaranteed Obligations, the Administrative Agent, any Holder of Guaranteed
      Obligations or any other Person or any other circumstance whatsoever which might, but for the provisions of this Section 5, constitute a legal or equitable discharge of any Guarantor’s obligations hereunder except as provided in Section 6.

     

    

    
      
        

    

    SECTION 6.    Continuing Guarantee; Discharge Only Upon Payment In Full; Reinstatement In Certain Circumstances.  Subject to Section 26 of this Guaranty, each of the Guarantors’ obligations
      hereunder shall constitute a continuing and irrevocable guarantee of all Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until all Guaranteed Obligations (other than unasserted contingent indemnification
      obligations not yet due and payable) shall have been paid in full in cash and the Commitments and all Letters of Credit issued under the Credit Agreement shall have terminated or expired, at which time this Guaranty shall automatically terminate with
      no further act of the parties hereto.  If at any time any payment of the principal of or interest on any Loan, any Reimbursement Obligation or any other amount payable by the Borrower or any other party under the Credit Agreement, any Swap Agreement,
      any Banking Services Agreement or any other Loan Document (including a payment effected through exercise of a right of setoff) is rescinded, or is or must be otherwise restored or returned upon the insolvency, bankruptcy or reorganization of the
      Borrower or otherwise (including pursuant to any settlement entered into by a Holder of Guaranteed Obligations in its discretion), each of the Guarantors’ obligations hereunder with respect to such payment shall be reinstated as though such payment
      had been due but not made at such time.  The parties hereto acknowledge and agree that each of the Guaranteed Obligations shall be due and payable in the same currency as such Guaranteed Obligation is denominated, but if currency control or exchange
      regulations are imposed in the country which issues such currency with the result that such currency (the “Original Currency”) no longer exists or the relevant Guarantor is not able to make payment in such Original Currency, then all payments
      to be made by such Guarantor hereunder in such currency shall instead be made when due in Dollars in an amount equal to the Dollar Amount (as of the date of payment) of such payment due, it being the intention of the parties hereto that each
      Guarantor takes all risks of the imposition of any such currency control or exchange regulations.

    

    

    SECTION 7.    General Waivers; Additional Waivers.

    

    

    (A)  General Waivers.  Each of the Guarantors irrevocably waives acceptance hereof, presentment, demand or action on delinquency, protest, the benefit of any statutes of
      limitations and, to the fullest extent permitted by law, any notice not provided for herein, as well as any requirement that at any time any action be taken by any Person against the Borrower, any other guarantor of the Guaranteed Obligations, or any
      other Person.

    

    

    (B)  Additional Waivers.  To the fullest extent permitted by law and notwithstanding anything herein to the contrary, each of the Guarantors hereby absolutely,
      unconditionally, knowingly, and expressly waives:

    

    

    (i)    any right it may have to revoke this Guaranty as to future indebtedness or notice of acceptance hereof;

    

    

    (ii)  (a) notice of acceptance hereof; (b) notice of any loans or other financial accommodations made or extended under the Loan Documents or the creation or existence of any
      Guaranteed Obligations; (c) notice of the amount of the Guaranteed Obligations, subject, however, to each Guarantor’s right to make inquiry of Administrative Agent and Holders of Guaranteed Obligations to ascertain the amount of the Guaranteed
      Obligations at any reasonable time; (d) notice of any adverse change in the financial condition of the Borrower or of any other fact that might increase such Guarantor’s risk hereunder; (e) notice of presentment for payment, demand, protest, and
      notice thereof as to any instruments among the Loan Documents; (f) notice of any Default or Event of Default; and (g) all other notices (except if such notice is specifically required to be given to such Guarantor hereunder or under the Loan
      Documents) and demands to which each Guarantor might otherwise be entitled;

    

    

    (iii)  its right, if any, to require the Administrative Agent and the other Holders of Guaranteed Obligations to institute suit against, or to exhaust any rights and remedies
      which the Administrative Agent and the other Holders of Guaranteed Obligations has or may have against, the other Guarantors or any third party, or against any collateral provided by the other Guarantors, or any third party; and each Guarantor
      further waives any defense arising by reason of any disability or other defense (other than the defense that the Guaranteed Obligations shall have been fully and finally performed and indefeasibly paid) of the other Guarantors or by reason of the
      cessation from any cause whatsoever of the liability of the other Guarantors in respect thereof;

     

    

    
      
        

    

    (iv)  (a) any rights to assert against the Administrative Agent and the other Holders of Guaranteed Obligations any defense (legal or equitable), set-off, counterclaim, or
      claim which such Guarantor may now or at any time hereafter have against the other Guarantors or any other party liable to the Administrative Agent and the other Holders of Guaranteed Obligations; (b) any defense, set-off, counterclaim, or claim, of
      any kind or nature, arising directly or indirectly from the present or future lack of perfection, sufficiency, validity, or enforceability of the Guaranteed Obligations or any security therefor; (c) any defense such Guarantor has to performance
      hereunder, and any right such Guarantor has to be exonerated, arising by reason of:  the impairment or suspension of the Administrative Agent’s and the other Holders of Guaranteed Obligations’ rights or remedies against the other Guarantors; the
      alteration by the Administrative Agent and the other Holders of Guaranteed Obligations of the Guaranteed Obligations; any discharge of the other Guarantors’ obligations to the Administrative Agent and the other Holders of Guaranteed Obligations by
      operation of law as a result of the Administrative Agent’s and the other Holders of Guaranteed Obligations’ intervention or omission; or the acceptance by the Administrative Agent and the other Holders of Guaranteed Obligations of anything in partial
      satisfaction of the Guaranteed Obligations; and (d) the benefit of any statute of limitations affecting such Guarantor’s liability hereunder or the enforcement thereof, and any act which shall defer or delay the operation of any statute of
      limitations applicable to the Guaranteed Obligations shall similarly operate to defer or delay the operation of such statute of limitations applicable to such Guarantor’s liability hereunder; and

    

    

    (v)   any defense arising by reason of or deriving from (a) any claim or defense based upon an election of remedies by the Administrative Agent and the other Holders of
      Guaranteed Obligations; or (b) any election by the Administrative Agent and the other Holders of Guaranteed Obligations under Section 1111(b) of Title 11 of the United States Code entitled “Bankruptcy”, as now and hereafter in effect (or any
      successor statute), to limit the amount of, or any collateral securing, its claim against the Guarantors.

    

    

    SECTION 8.    Subordination of Subrogation; Subordination of Intercompany Indebtedness.

    

    

    (A)  Subordination of Subrogation.  Until the Guaranteed Obligations (other than unasserted contingent indemnification obligations not yet due and payable) have been fully
      and finally performed and indefeasibly paid in full in cash, the Guarantors (i) shall have no right of subrogation with respect to such Guaranteed Obligations and (ii) waive any right to enforce any remedy which the Holders of Guaranteed Obligations,
      the Issuing Banks or the Administrative Agent now have or may hereafter have against the Borrower, any endorser or any guarantor of all or any part of the Guaranteed Obligations or any other Person, and the Guarantors waive any benefit of, and any
      right to participate in, any security or collateral given to the Holders of Guaranteed Obligations, the Issuing Banks and the Administrative Agent to secure the payment or performance of all or any part of the Guaranteed Obligations or any other
      liability of the Borrower to the Holders of Guaranteed Obligations or the Issuing Banks.  Should any Guarantor have the right, notwithstanding the foregoing, to exercise its subrogation rights, each Guarantor hereby expressly and irrevocably (A)
      subordinates any and all rights at law or in equity to subrogation, reimbursement, exoneration, contribution, indemnification or set off that such Guarantor may have to the indefeasible payment in full in cash of the Guaranteed Obligations (other
      than unasserted contingent indemnification obligations not yet due and payable) and (B) waives any and all defenses available to a surety, guarantor or accommodation co-obligor until the Guaranteed Obligations (other than unasserted contingent
      indemnification obligations not yet due and payable) are indefeasibly paid in full in cash.  Each Guarantor acknowledges and agrees that this subordination is intended to benefit the Administrative Agent and the other Holders of Guaranteed
      Obligations and shall not limit or otherwise affect such Guarantor’s liability hereunder or the enforceability of this Guaranty, and that the Administrative Agent, the other Holders of Guaranteed Obligations and their respective successors and
      permitted assigns are intended third party beneficiaries of the waivers and agreements set forth in this Section 8(A).

     

    

    
      
        

    

    (B)  Subordination of Intercompany Indebtedness.  Each Guarantor agrees that any and all claims of such Guarantor against the Borrower or any other Guarantor hereunder
      (each an “Obligor”) with respect to any “Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or any other guarantor of all or any part of the Guaranteed Obligations, or against any of its properties shall be subordinate
      and subject in right of payment to the prior payment, in full and in cash, of all Guaranteed Obligations (other than unasserted contingent indemnification obligations not yet due and payable); provided that, as long as no Event of Default has
      occurred and is continuing, such Guarantor may receive payments of principal and interest from any Obligor with respect to Intercompany Indebtedness.  Notwithstanding any right of any Guarantor to ask, demand, sue for, take or receive any payment
      from any Obligor, all rights, liens and security interests of such Guarantor, whether now or hereafter arising and howsoever existing, in any assets of any other Obligor shall be and are subordinated to the rights of the Holders of Guaranteed
      Obligations and the Administrative Agent in those assets. No Guarantor shall have any right to possession of any such asset or to foreclose upon any such asset, whether by judicial action or otherwise, unless and until all of the Guaranteed
      Obligations shall have been fully paid and satisfied (in cash) and all financing arrangements pursuant to any Loan Document, any Swap Agreement or any Banking Services Agreement have been terminated.  If all or any part of the assets of any Obligor,
      or the proceeds thereof, are subject to any distribution, division or application to the creditors of such Obligor, whether partial or complete, voluntary or involuntary, and whether by reason of liquidation, bankruptcy, arrangement, receivership,
      assignment for the benefit of creditors or any other action or proceeding, or if the business of any such Obligor is dissolved or if substantially all of the assets of any such Obligor are sold, then, and in any such event (such events being herein
      referred to as an “Insolvency Event”), any payment or distribution of any kind or character, either in cash, securities or other property, which shall be payable or deliverable upon or with respect to any indebtedness of any Obligor to any
      Guarantor (“Intercompany Indebtedness”) shall be paid or delivered directly to the Administrative Agent for application on any of the Guaranteed Obligations, due or to become due, until such Guaranteed Obligations shall have first been fully
      paid and satisfied (in cash).  Should any payment, distribution, security or instrument or proceeds thereof be received by the applicable Guarantor upon or with respect to the Intercompany Indebtedness after any Insolvency Event and prior to the
      satisfaction of all of the Guaranteed Obligations and the termination of all financing arrangements pursuant to any Loan Document among the Borrower and the Holders of Guaranteed Obligations, such Guarantor shall receive and hold the same in trust,
      as trustee, for the benefit of the Holders of Guaranteed Obligations and shall forthwith deliver the same to the Administrative Agent, for the benefit of the Holders of Guaranteed Obligations, in precisely the form received (except for the
      endorsement or assignment of the Guarantor where necessary), for application to any of the Guaranteed Obligations, due or not due, and, until so delivered, the same shall be held in trust by the Guarantor as the property of the Holders of Guaranteed
      Obligations.  If any such Guarantor fails to make any such endorsement or assignment to the Administrative Agent, the Administrative Agent or any of its officers or employees is irrevocably authorized to make the same.  Each Guarantor agrees that
      until the Guaranteed Obligations (other than the contingent indemnity obligations) have been paid in full (in cash) and satisfied and all financing arrangements pursuant to any Loan Document among the Borrower and the Holders of Guaranteed
      Obligations have been terminated, no Guarantor will assign or transfer to any Person (other than the Administrative Agent) any claim any such Guarantor has or may have against any Obligor.

     

    

    
      
        

    

    SECTION 9.    Contribution with Respect to Guaranteed Obligations.

    

    

    (A)  To the extent that any Guarantor shall make a payment under this Guaranty (a “Guarantor Payment”) which, taking into account all other Guarantor Payments then
      previously or concurrently made by any other Guarantor, exceeds the amount which otherwise would have been paid by or attributable to such Guarantor if each Guarantor had paid the aggregate Guaranteed Obligations satisfied by such Guarantor Payment
      in the same proportion as such Guarantor’s “Allocable Amount” (as defined below) (as determined immediately prior to such Guarantor Payment) bore to the aggregate Allocable Amounts of each of the Guarantors as determined immediately prior to the
      making of such Guarantor Payment, then, following indefeasible payment in full in cash of the Guaranteed Obligations (other than unasserted contingent indemnification obligations not yet due and payable) and termination of the Credit Agreement, the
      Swap Agreements and the Banking Services Agreements, such Guarantor shall be entitled to receive contribution and indemnification payments from, and be reimbursed by, each other Guarantor for the amount of such excess, pro rata based upon their
      respective Allocable Amounts in effect immediately prior to such Guarantor Payment.

    

    

    (B)  As of any date of determination, the “Allocable Amount” of any Guarantor shall be equal to the excess of the fair saleable value of the property of such Guarantor over the
      total liabilities of such Guarantor (including the maximum amount reasonably expected to become due in respect of contingent liabilities, calculated, without duplication, assuming each other Guarantor that is also liable for such contingent liability
      pays its ratable share thereof), giving effect to all payments made by other Guarantors as of such date in a manner to maximize the amount of such contributions.

    

    

    (C)  This Section 9 is intended only to define the relative rights of the Guarantors, and nothing set forth in this Section 9 is intended to or shall impair the obligations of the
      Guarantors, jointly and severally, to pay any amounts as and when the same shall become due and payable in accordance with the terms of this Guaranty.

    

    

    (D)  The parties hereto acknowledge that the rights of contribution and indemnification hereunder shall constitute assets of the Guarantor or Guarantors to which such contribution
      and indemnification is owing.

    

    

    (E)  The rights of the indemnifying Guarantors against the other Guarantors under this Section 9 shall be exercisable upon the full and indefeasible payment of the Guaranteed
      Obligations (other than unasserted contingent indemnification obligations not yet due and payable) in cash and the termination of the Credit Agreement, the Swap Agreements and the Banking Services Agreements.

    

    

    SECTION 10.  Limitation of Guaranty.  Notwithstanding any other provision of this Guaranty, the amount guaranteed by each Guarantor hereunder shall be limited to the extent, if any, required
      so that its obligations hereunder shall not be subject to avoidance under Section 548 of the Bankruptcy Code or under any applicable state Uniform Fraudulent Transfer Act, Uniform Fraudulent Conveyance Act or similar statute or common law.  In
      determining the limitations, if any, on the amount of any Guarantor’s obligations hereunder pursuant to the preceding sentence, it is the intention of the parties hereto that any rights of subrogation, indemnification or contribution which such
      Guarantor may have under this Guaranty, any other agreement or applicable law shall be taken into account.

     

    

    
      
        

    

    SECTION 11.  Stay of Acceleration.  If acceleration of the time for payment of any amount payable by the Borrower under the Credit Agreement, any Swap Agreement, any Banking Services Agreement
      or any other Loan Document is stayed upon the insolvency, bankruptcy or reorganization of the Borrower, all such amounts otherwise subject to acceleration under the terms of the Credit Agreement, any Swap Agreement, any Banking Services Agreement or
      any other Loan Document shall nonetheless be payable by each of the Guarantors hereunder forthwith on demand by the Administrative Agent.

    

    

    SECTION 12.  Notices. All notices, requests and other communications to any party hereunder shall be given in the manner prescribed in Article IX of the Credit Agreement with respect to the
      Administrative Agent at its notice address therein and with respect to any Guarantor, in care of the Borrower at the address of the Borrower set forth in the Credit Agreement or such other address or telecopy number as such party may hereafter
      specify for such purpose by notice to the Administrative Agent in accordance with the provisions of such Article IX.

    

    

    SECTION 13.  No Waivers.  No failure or delay by the Administrative Agent or any other Holder of Guaranteed Obligations in exercising any right, power or privilege hereunder shall operate as
      a waiver thereof nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right, power or privilege.  The rights and remedies provided in this Guaranty, the Credit Agreement, any
      Swap Agreement, any Banking Services Agreement and the other Loan Documents shall be cumulative and not exclusive of any rights or remedies provided by law.

    

    

    SECTION 14.  Successors and Assigns.  This Guaranty is for the benefit of the Administrative Agent and the other Holders of Guaranteed Obligations and their respective successors and
      permitted assigns; provided, that no Guarantor shall have any right to assign its rights or obligations hereunder without the consent of all of the Lenders, and any such assignment in violation of this Section 14 shall be null and void; and
      in the event of an assignment of any amounts payable under the Credit Agreement, any Swap Agreement, any Banking Services Agreement or the other Loan Documents in accordance with the respective terms thereof, the rights hereunder, to the extent
      applicable to the indebtedness so assigned, may be transferred with such indebtedness. This Guaranty shall be binding upon each of the Guarantors and their respective successors and assigns.

    

    

    SECTION 15.  Changes in Writing.  Other than in connection with the addition of additional Subsidiaries, which become parties hereto by executing a supplement hereto in the form attached as
      Annex I, neither this Guaranty nor any provision hereof may be changed, waived, discharged or terminated orally, but only in writing signed by each of the Guarantors and the Administrative Agent with the consent of the Required Lenders under the
      Credit Agreement.

    

    

    SECTION 16.  Governing Law; Jurisdiction; Waiver of Jury Trial.

    

    

    (A)  THIS GUARANTY AND THE OTHER LOAN DOCUMENTS (EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN ANY SUCH OTHER LOAN DOCUMENT) SHALL BE CONSTRUED IN
        ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

     

    

    
      
        

    

    (B)  Each Guarantor hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the United States District Court for the Southern
      District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the  Borough of Manhattan), and any appellate court from any thereof, in any action or
      proceeding arising out of or relating to this Guaranty or any other Loan Document or the transactions relating hereto or thereto, 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 may (and any such claims, cross-claims or third party claims brought against the Administrative Agent or any of its Related Parties may only) be heard and determined in such Federal
      (to the extent permitted by law) or New York State 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 Guaranty or in any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may otherwise have to bring any action or proceeding relating to this Guaranty or any
      other Loan Document against any Guarantor or its properties in the courts of any jurisdiction.

    

    

    (C)  Each of the parties hereto 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 Guaranty or any other Loan Document in any court referred to in Section 16(B) of this Guaranty.  Each of the parties hereto hereby
      irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court.

    

    

    (D)  Each party to this Guaranty irrevocably consents to service of process in the manner provided for notices in Section 12 of this Guaranty, and each of the Guarantors
      hereby appoints the Borrower as its agent for service of process.  Nothing in this Guaranty or any other Loan Document will affect the right of any party to this Guaranty to serve process in any other manner permitted by law.

    

    

    (E)   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 GUARANTY, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT
        NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER 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 GUARANTY AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

    

    

    SECTION 17.  No Strict Construction.  The parties hereto have participated jointly in the negotiation and drafting of this Guaranty.  In the event an ambiguity or question of intent or
      interpretation arises, this Guaranty shall be construed as if drafted jointly by the parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Guaranty.

    

    

    SECTION 18.  Taxes, Expenses of Enforcement, etc.

    

    

    (A)  Taxes.  The Obligations of the Guarantor and the Lenders set out in Section 2.17 of the Credit Agreement shall be applicable, mutatis
        mutandis, to all payments required to be made by any Guarantor under this Guaranty.

     

    

    
      
        

    

    (B)  Expenses of Enforcement, Etc.  The Guarantors agree to reimburse the Administrative Agent and the other Holders of Guaranteed Obligations for any reasonable costs and
      out-of-pocket expenses (including attorneys’ fees) paid or incurred by the Administrative Agent or any other Holder of Guaranteed Obligations in connection with the collection and enforcement of amounts due under the Loan Documents, including without
      limitation this Guaranty.

    

    

    SECTION 19.  Setoff.  At any time after all or any part of the Guaranteed Obligations have become due and payable (by acceleration or otherwise), each Holder of Guaranteed Obligations
      (including the Administrative Agent) may, without notice to any Guarantor and regardless of the acceptance of any security or collateral for the payment hereof, appropriate and apply in accordance with the terms of the Credit Agreement toward the
      payment of all or any part of the Guaranteed Obligations  (i) any indebtedness due or to become due from such Holder of Guaranteed Obligations or the Administrative Agent to any Guarantor, and (ii) any moneys, credits or other property belonging to
      any Guarantor, at any time held by or coming into the possession of such Holder of Guaranteed Obligations (including the Administrative Agent) or any of their respective Affiliates.

    

    

    SECTION 20.  Financial Information.  Each Guarantor hereby assumes responsibility for keeping itself informed of the financial condition of the Borrower and/or other Guarantors of all or any
      part of the Guaranteed Obligations, and of all other circumstances bearing upon the risk of nonpayment of the Guaranteed Obligations, or any part thereof, that diligent inquiry would reveal, and each Guarantor hereby agrees that none of the Holders
      of Guaranteed Obligations (including the Administrative Agent) shall have any duty to advise such Guarantor of information known to any of them regarding such condition or any such circumstances.  In the event any Holder of Guaranteed Obligations
      (including the Administrative Agent), in its sole discretion, undertakes at any time or from time to time to provide any such information to a Guarantor, such Holder of Guaranteed Obligations (including the Administrative Agent) shall be under no
      obligation (i) to undertake any investigation not a part of its regular business routine, (ii) to disclose any information which such Holder of Guaranteed Obligations (including the Administrative Agent), pursuant to accepted or reasonable commercial
      finance or banking practices, wishes to maintain confidential or (iii) to make any other or future disclosures of such information or any other information to such Guarantor.

    

    

    SECTION 21.  Severability.  Wherever possible, each provision of this Guaranty shall be interpreted in such manner as to be effective and valid under applicable law, but if any provision of
      this Guaranty shall be prohibited by or invalid under such law, such provision shall be ineffective to the extent of such prohibition or invalidity without invalidating the remainder of such provision or the remaining provisions of this Guaranty.

    

    

    SECTION 22.  Merger.  This Guaranty represents the final agreement of each of the Guarantors with respect to the matters contained herein and may not be contradicted by evidence of prior or
      contemporaneous agreements, or subsequent oral agreements, between the Guarantor and any Holder of Guaranteed Obligations (including the Administrative Agent).

    

    

    SECTION 23.  Headings.  Section headings in this Guaranty are for convenience of reference only and shall not govern the interpretation of any provision of this Guaranty.

     

    

    
      
        

    

    SECTION 24.  Judgment Currency.  If for the purposes of obtaining judgment in any court it is necessary to convert a sum due from any Guarantor hereunder in the currency expressed to be
      payable herein (the “specified currency”) into another currency, the parties hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which in accordance with normal banking
      procedures the Administrative Agent could purchase the specified currency with such other currency at the Administrative Agent’s main New York City office on the Business Day preceding that on which final, non-appealable judgment is given.  The
      obligations of each Guarantor in respect of any sum due hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the extent that on the Business Day following receipt by any Holder of
      Guaranteed Obligations (including the Administrative Agent), as the case may be, of any sum adjudged to be so due in such other currency such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, may in accordance
      with normal, reasonable banking procedures purchase the specified currency with such other currency.  If the amount of the specified currency so purchased is less than the sum originally due to such Holder of Guaranteed Obligations (including the
      Administrative Agent), as the case may be, in the specified currency, each Guarantor agrees, to the fullest extent that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Holder of Guaranteed
      Obligations (including the Administrative Agent), as the case may be, against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due to any Holder of Guaranteed Obligations (including the Administrative
      Agent), as the case may be, in the specified currency and (b) amounts shared with other Holders of Guaranteed Obligations as a result of allocations of such excess as a disproportionate payment to such other Holder of Guaranteed Obligations under
      Section 2.18 of the Credit Agreement, such Holder of Guaranteed Obligations (including the Administrative Agent), as the case may be, agrees, by accepting the benefits hereof, to remit such excess to such Guarantor.

    

    

    SECTION 25.  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 Guarantor to honor all of its obligations under this Guaranty in respect of Specified Swap Obligations (provided, however, that each Qualified ECP Guarantor shall only be liable under this Section 26 for the
      maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 26 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 26 shall remain in full force and effect until a discharge of such Qualified ECP Guarantor’s Guaranteed Obligations in accordance with the terms hereof and the
      other Loan Documents.  Each Qualified ECP Guarantor intends that this Section 26 constitute, and this Section 26 shall be deemed to constitute, a “keepwell, support, or other agreement” for the benefit of each other Guarantor for all purposes of
      Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.  As used herein, “Qualified ECP Guarantor” means, in respect of any Specified Swap Obligation, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant
      Guarantee or grant of the relevant security interest becomes or would become effective with respect to such Specified Swap Obligation or such other Person as constitutes an ECP and can cause another Person to qualify as an ECP at such time by
      entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act.

    

    

    SECTION 26.  Counterparts.  This Guaranty may be executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original, but all of
      which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Guaranty by telecopy, e-mailed .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Guaranty.  The words “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any  document to be signed in connection with this Guaranty and the transactions contemplated hereby shall be deemed to include
        Electronic Signatures, deliveries 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, physical delivery thereof 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 27.  Termination of Guaranty.  The obligations of any Guarantor under this Guaranty shall automatically terminate in accordance with Section 9.14 of the Credit Agreement.

     

    

    
      
        

    

    (Remainder of Page Intentionally Blank.)

    

    

    
      
        

    

    IN WITNESS WHEREOF, each of the Initial Guarantors has caused this Guaranty to be duly executed by its authorized officer as of the day and year first above written.

    

    

    	 	
            TREDEGAR FILM PRODUCTS CORPORATION, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR PERFORMANCE FILMS INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (U.S.) LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            BON L MANUFACTURING COMPANY, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            AACOA EXTRUSIONS, INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    Signature Page to Amended and Restated Guaranty

    

    

    
      
        

    

    	 	
            THE WILLIAM L. BONNELL COMPANY, INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            AACOA, INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR PERSONAL CARE, LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR SURFACE PROTECTION, LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FAR EAST CORPORATION, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (EUROPE), INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    Signature Page to Amended and Restated Guaranty

    

    

    
      
        

    

    	 	
            TREDEGAR INVESTMENTS II, LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILMS DEVELOPMENT, INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (LATIN AMERICA), INC., as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TAC HOLDINGS LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TERPHANE HOLDINGS LLC, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            R5

          
	 	
            FUTURA INDUSTRIES CORPORATION, as a Guarantor

          
	 	 	 
	 	
            By:

          	
            Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    Signature Page to Amended and Restated Guaranty

    

    

    
      
        

    

    	
            Acknowledged and Agreed

          
	
            as of the date first written above:

          
	 
	
            JPMORGAN CHASE BANK, N.A.,

          
	
            as Administrative Agent

          
	 
	
            By:

          	
            /s/ Joon Hur

          	 

    	
            Name:

          	
            Joon Hur

          
	
            Title:

          	
            Executive Director

          

    

    

    Signature Page to Amended and Restated Guaranty

    

    

    
      
        

    

    ANNEX I TO AMENDED AND RESTATED GUARANTY

    

    

    Reference is hereby made to the Amended and Restated Guaranty (as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Guaranty”) made as of June 28,
      2019, by and among the Guarantors signatory thereto (the “Initial Guarantors” and along with any additional Subsidiaries of the Borrower, which become parties thereto and together with the undersigned, the “Guarantors”) in favor of the
      Administrative Agent, for the ratable benefit of the Holders of Guaranteed Obligations, under the Credit Agreement.  Capitalized terms used herein and not defined herein shall have the meanings given to them in the Guaranty.  By its execution below,
      the undersigned [NAME OF NEW GUARANTOR], a [corporation] [partnership] [limited liability company] (the “New Guarantor”), agrees to become, and does hereby become, a Guarantor under the Guaranty and agrees to be bound by such Guaranty as if
      originally a party thereto.  By its execution below, the undersigned represents and warrants as to itself that all of the representations and warranties contained in Section 2 of the Guaranty are true and correct in all respects as of the date
      hereof.

    

    

    IN WITNESS WHEREOF, the New Guarantor has executed and delivered this Annex I counterpart to the Guaranty as of this __________ day of _________, 20___.

    

    

    	 	
            [NAME OF NEW GUARANTOR]

          
	 	 	 
	 	
            By:

          	
            

            

          
	 	Name:	 
	 	Title:Exhibit 4.3

    

    

    EXECUTION VERSION

    

    

    AMENDED AND RESTATED PLEDGE AND SECURITY AGREEMENT

    

    

    THIS AMENDED AND RESTATED PLEDGE AND SECURITY AGREEMENT (as the same may be amended, restated, supplemented or otherwise modified from time to time, this “Security Agreement”) is entered into
      as of June 28, 2019 by and among TREDEGAR CORPORATION, a Virginia corporation (the “Borrower”), the Material Domestic Subsidiaries of the Borrower listed on the signature pages hereto (together with the Borrower, the “Initial Grantors,”
      and together with any additional Material Domestic Subsidiaries, whether now existing or hereafter formed or acquired which become parties to this Security Agreement from time to time, in accordance with the terms of the Credit Agreement (as defined
      below), by executing a Supplement hereto in substantially the form of Annex I, the “Grantors”), and JPMORGAN CHASE BANK, N.A., a national banking association, in its capacity as administrative agent (the “Administrative Agent”)
      for itself and for the Secured Parties (as defined in the Credit Agreement identified below).

     

    PRELIMINARY STATEMENT

     

    WHEREAS, the Borrower, the Administrative Agent and the Lenders are entering into an Amended and Restated Credit Agreement dated as of the date hereof, pursuant to which the Existing Credit Agreement
      (as defined in the Credit Agreement) has been amended and restated in its entirety (as so amended, and as the same may be amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”);

    

    

    WHEREAS, the Credit Agreement, among other things, re-evidences the Borrower’s outstanding obligations under the Existing Credit Agreement and provides, subject to the terms and conditions thereof,
      for extensions of credit and other financial accommodations to be made by the Lenders to the Borrower;

    

    

    WHEREAS, as a condition precedent to the effectiveness of the Existing Credit Agreement, the Grantors entered into the Pledge and Security Agreement, dated as of March 1, 2016, with the
      Administrative Agent (the “Existing Security Agreement”);

    

    

    WHEREAS, the Grantors wish to (i) affirm their obligations under the terms of the Existing Security Agreement and (ii) amend and restate the terms of the Existing Security Agreement as set forth
      herein;

    

    

    WHEREAS, the Grantors wish to secure their obligations to the Secured Parties pursuant to the terms of this Security Agreement; and

    

    

    WHEREAS, it is the intent of the parties hereto that this Security Agreement not constitute a novation of the obligations and liabilities of the parties under the Existing Security Agreement, but
      that this Security Agreement amend and restate in its entirety the Existing Security Agreement and re-evidence the obligations and liabilities of each Grantor outstanding thereunder, which shall be set forth in accordance with the terms hereof.

    

    

    ACCORDINGLY, the Grantors and the Administrative Agent, on behalf of the Secured Parties, hereby agree as follows:

     

    

    
      
        

    

    
    ARTICLE I

     

    DEFINITIONS

     

    1.1.      Terms Defined in the Credit Agreement.  All capitalized terms used herein and not otherwise defined shall have the meanings assigned to
      such terms in the Credit Agreement.

     

    1.2.      Terms Defined in UCC.  Terms defined in the UCC which are not otherwise defined in this Security Agreement are used herein as
      defined in the UCC.

     

    1.3.      Definitions of Certain Terms Used Herein.  As used in this Security Agreement, in addition to the terms defined in the Preliminary
      Statement, the following terms shall have the following meanings:

     

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

     

    “Amendment” shall have the meaning set forth in Section 4.4 of this Security Agreement.

     

    “Article” means a numbered article of this Security Agreement, unless another document is specifically referenced.

     

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

     

    “Collateral” means all Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Equipment, Farm Products, Fixtures, General Intangibles, Goods, Instruments, Inventory,
      Investment Property, letters of credit, Letter-of-Credit Rights, Pledged Deposits, Supporting Obligations and Other Collateral, wherever located, now owned by any Grantor or hereafter acquired, and the proceeds (including Stock Rights), insurance
      proceeds and products thereof, together with all books and records, customer lists, credit files, computer files, programs, printouts and other computer materials and records related thereto; provided that, notwithstanding the foregoing,
      Collateral shall expressly exclude Excluded Assets.

     

    “Commercial Tort Claims” means commercial tort claims, as defined in the UCC of any Grantor, including each commercial tort claim specifically described in Exhibit “F”.

     

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

     

    “Credit Agreement” shall have the meaning set forth in the recitals of this Security Agreement.

     

    “Deposit Account Control Agreement” means an agreement, in form and substance satisfactory to the Administrative Agent, among any Grantor, a banking institution holding such Grantor’s funds,
      and the Administrative Agent with respect to collection and Control of all deposits and balances held in a deposit account maintained by such Grantor with such banking institution.

     

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

     

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

     

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

     

    “Excluded Assets” shall have the meaning set forth in the Credit Agreement.

     

    
      2

      
        

    

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

     

    “Existing Security Agreement” shall have the meaning set forth in the recitals of this Security Agreement.

     

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

     

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

     

    “General Intangibles” shall have the meaning set forth in Article 9 of the UCC and, in any event, includes payment intangibles, contract rights, rights to payment, rights arising under common
      law, statutes, or regulations, choses or things in action, goodwill (including the goodwill associated with any trademark), pension plan refund claims, insurance premium rebates, tax refunds, and tax refund claims, interests in a partnership or
      limited liability company which do not constitute a security under Article 8 of the UCC, and any other personal property other than Commercial Tort Claims, money, Accounts, Chattel Paper, Deposit Accounts, Goods, Investment Property, negotiable
      Collateral, and oil, gas, or other minerals before extraction.

     

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

     

    “Indemnitees” shall have the meaning set forth in Section 8.17 of this Security Agreement.

     

    “Insolvency Event” shall have the meaning set forth in Section 8.18 of this Security Agreement.

     

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

     

    “Intercompany Indebtedness” shall have the meaning set forth in Section 8.18 of this Security Agreement.

     

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

     

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

     

    “Letter-of-Credit Rights” shall have the meaning set forth in Article 9 of the UCC.

     

    “Obligor” shall have the meaning set forth in Section 8.18 of this Security Agreement.

     

    “Other Collateral” means any personal property of the Grantors, not included within the defined terms Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Equipment,
      Fixtures, Farm Products, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letter-of-Credit Rights, Pledged Deposits and Supporting Obligations, including, without limitation, all cash on hand, letters of credit, Stock Rights
      or any other deposits (general or special, time or demand, provisional or final) with any bank or other financial institution, it being intended that the Collateral include all real and personal property of the Grantors, subject to the limitations
      contained in Article II of this Security Agreement.

     

    “Pledged Collateral” means all Instruments, Securities and other Investment Property of the Grantors constituting Collateral, whether or not physically delivered to the Administrative Agent
      pursuant to this Security Agreement.

     

    
      3

      
        

    

     “Pledged Deposits” means all time deposits of money (other than Deposit Accounts and Instruments), whether or not evidenced by certificates, which a Grantor may from time to time designate as
      pledged to the Administrative Agent or to any Secured Party as security for any Secured Obligations, and all rights to receive interest on said deposits.

     

    “Receivables” means the Accounts, Chattel Paper, Documents, Investment Property, Instruments or Pledged Deposits, and any other rights or claims to receive money which are General Intangibles
      or which are otherwise included as Collateral.

     

    “Section” means a numbered section of this Security Agreement, unless another document is specifically referenced.

     

    “Security” shall have the meaning set forth in Article 8 of the UCC.

     

    “Securities Account” has the meaning set forth in Article 8 of the UCC.

     

    “Stock Rights” means any securities, dividends, instruments or other distributions and any other right or property which any Grantor shall receive or shall become entitled to receive for any
      reason whatsoever with respect to, in substitution for or in exchange for any securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral and any securities, any right to
      receive securities and any right to receive earnings, in which any Grantor now has or hereafter acquires any right, issued by an issuer of such securities.

     

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

     

    The foregoing definitions shall be equally applicable to both the singular and plural forms of the defined terms.

     

    ARTICLE II

     

    REAFFIRMATION AND GRANT OF SECURITY INTEREST

     

    Each Grantor party to the Existing Security Agreement reaffirms the security interest granted under the terms and conditions of the Existing Security Agreement and agrees that such security interest
      (including, without limitation, any filings made in connection therewith) remains in full force and effect and is hereby ratified, reaffirmed and confirmed. Each Grantor party to the Existing Security Agreement acknowledges and agrees with the
      Administrative Agent that the Existing Security Agreement is amended, restated and superseded in its entirety pursuant to the terms hereof.

     

    Each of the Grantors hereby pledges, assigns and grants to the Administrative Agent, on behalf of and for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title
      and interest, whether now owned or hereafter acquired by, or arising in favor of, such Grantor, in and to the Collateral to secure the prompt and complete payment and performance of the Secured Obligations; provided, however, that
      anything contained herein or in any financing statement filed in connection herewith to the contrary notwithstanding, the Collateral will not include the Excluded Assets; provided, further, notwithstanding anything to the contrary
      contained herein, this Security Agreement shall not constitute a grant of a Lien or security interest in more than the Applicable Pledge Percentage of any Subsidiary.  For the avoidance of doubt, the grant of a security interest herein shall not be
      deemed to be an assignment of intellectual property rights owned by the Grantors.

     

    
      4

      
        

    

    ARTICLE III

     

    REPRESENTATIONS AND WARRANTIES

     

    Each of the Initial Grantors represents and warrants to the Administrative Agent and the Secured Parties, and each Grantor that becomes a party to this Security Agreement pursuant to the execution of
      a Security Agreement Supplement in substantially the form of Annex I represents and warrants (after giving effect to supplements to each of the Exhibits hereto with respect to such subsequent Grantor as attached to such Security Agreement
      Supplement), that:

     

    3.1.      Title, Authorization, Validity and Enforceability.  As of the Effective Date, such Grantor has good and valid rights in or the power to
      transfer the Collateral owned by it and title to the Collateral with respect to which it has purported to grant a security interest hereunder, free and clear of all Liens except for Liens permitted under Section 4.1.6 hereof, and has full
      corporate, limited liability company or partnership, as applicable, power and authority to grant to the Administrative Agent the security interest in such Collateral pursuant hereto.  The execution and delivery by such Grantor of this Security
      Agreement has been duly authorized by proper corporate, limited liability company, limited partnership or partnership, as applicable, proceedings, and this Security Agreement constitutes a legal, valid and binding obligation of such Grantor and
      creates a security interest which is enforceable against such Grantor in all Collateral it now owns or hereafter acquires, except as enforceability may be limited by (i) bankruptcy, insolvency, fraudulent conveyance, reorganization or similar laws
      relating to or affecting the enforcement of creditors’ rights generally, (ii) general equitable principles (whether considered in a proceeding in equity or at law), and (iii) requirements of reasonableness, good faith and fair dealing.  When
      financing statements have been filed in the appropriate offices against such Grantor in the locations listed in Exhibit “E” as of the Effective Date, the Administrative Agent will have a fully perfected first priority security interest in the
      Collateral owned by such Grantor in which a security interest may be perfected by filing of a financing statement under the UCC, subject only to Liens permitted under Section 4.1.6 hereof.

     

    3.2.      Conflicting Laws and Contracts.  Neither the execution and delivery by such Grantor of this Security Agreement, the creation and perfection
      of the security interest in the Collateral granted hereunder, nor compliance with the terms and provisions hereof will violate (i) any law, rule, regulation, order, writ, judgment, injunction, decree or award binding on such Grantor, or (ii) such
      Grantor’s charter, articles or certificate of incorporation, partnership agreement or by-laws (or similar constitutive documents), or (iii) the provisions of any indenture, material instrument or material agreement to which such Grantor is a party or
      is subject, or by which it, or its property may be bound or affected, or result in a default thereunder, or result in or require the creation or imposition of any Lien in, of or on the property of such Grantor pursuant to the terms of any such
      indenture, material instrument or material agreement (other than any Lien of the Administrative Agent on behalf of the Secured Parties).

     

    3.3.      Principal Location.  Such Grantor’s mailing address and the location of its chief executive office as of the Effective Date are disclosed
      in Exhibit “A”; such Grantor has no other places of business as of the Effective Date except those set forth in Exhibit “A”.

     

    3.4.      Property Locations.  The Inventory, Equipment and Fixtures owned by each Grantor are located as of the Effective Date solely at the
      locations of such Grantor described in Exhibit “A”.  All of said locations are owned by such Grantor except for locations (i) which are leased by such Grantor as lessee and designated in Part B of Exhibit “A” and (ii) at which
      Inventory in excess of $500,000 is held in a public warehouse or is otherwise held by a bailee or on consignment by such Grantor as designated in Part C of Exhibit “A”, with respect to which Inventory such Grantor has delivered bailment
      agreements, warehouse receipts, financing statements or other documents reasonably requested by the Administrative Agent to protect the Administrative Agent’s and the Secured Parties’ security interest in such Inventory.

     

    
      5

      
        

    

    3.5.      No Other Names; Etc.  Within the five-year period ending as of the date such Person becomes a Grantor hereunder, such Grantor has not
      conducted business under any name, changed its jurisdiction of formation, merged with or into or consolidated with any other Person, except as disclosed in Exhibit “A”.  The name in which such Grantor has executed this Security Agreement is
      the exact name as it appears in such Grantor’s organizational documents, as amended, as filed with such Grantor’s jurisdiction of organization as of the date such Person becomes a Grantor hereunder.

     

    3.6.      No Default.  As of the Effective Date, no Default or Event of Default exists.

     

    3.7.     Accounts and Chattel Paper.  The names of the obligors, amounts owing, due dates and other information with respect to the Accounts and
      Chattel Paper owned by such Grantor are and will be correctly stated in all material respects in all records of such Grantor relating thereto and in all invoices and reports with respect thereto furnished to the Administrative Agent by such Grantor
      from time to time at the Administrative Agent’s reasonable request.  As of the time when each Account or each item of Chattel Paper arises, such Grantor shall be deemed to have represented and warranted that such Account or Chattel Paper, as the case
      may be, and all records relating thereto, are genuine and in all material respects what they purport to be.

     

    3.8.      Filing Requirements.  As of the Effective Date, none of the Equipment owned by such Grantor is covered by any certificate of title, except
      for motor vehicles.  As of the Effective Date, none of the Collateral owned by such Grantor is of a type for which security interests or liens may be perfected by filing under any federal statute except for motor vehicles.  As of the Effective Date,
      the legal description, county and street address of the property on which any Fixtures owned by such Grantor are located is set forth in Exhibit “C” together with the name and address of the record owner of each such property.

     

    3.9.     No Financing Statements, Security Agreements.  As of the Effective Date, no financing statement or security agreement describing all or any
      portion of the Collateral which has not lapsed or been terminated naming such Grantor as debtor has been filed or is of record in any jurisdiction except financing statements (i) naming the Administrative Agent on behalf of the Secured Parties as the
      secured party and (ii) in respect of Liens permitted by Section 6.01 of the Credit Agreement; provided, that nothing herein shall be deemed to constitute an agreement to subordinate any of the Liens of the Administrative Agent under the Loan
      Documents to any Liens otherwise permitted under Section 6.01 of the Credit Agreement.

     

    3.10.   Federal Employer Identification Number; State Organization Number; Jurisdiction of Organization.  As of the Effective Date, such Grantor’s
      federal employer identification number is, and if such Grantor is a registered organization, such Grantor’s State of organization, type of organization and State of organization identification number are, listed in Exhibit “G”.

     

    3.11.    Pledged Securities and Other Investment Property.  Exhibit “D” sets forth a complete and accurate list of the Instruments and other
      Investment Property in excess of $500,000 and all Securities owned by each Grantor as of the Effective Date constituting Collateral and delivered to the Administrative Agent.  Each Grantor is the direct and beneficial owner of each Instrument,
      Security and other type of Investment Property listed in Exhibit “D” as of the Effective Date as being owned by it, free and clear of any Liens, except for Liens granted to the Administrative Agent for the benefit of the Secured Parties
      hereunder or as permitted by Section 6.01 of the Credit Agreement.  Each Grantor further represents and warrants that (i) all such Instruments, Securities or other types of Investment Property which are shares of stock in a corporation or ownership
      interests in a partnership or limited liability company have been (to the extent such concepts are relevant with respect to such Instrument, Security or other type of Investment Property) duly and validly issued, are fully paid and non-assessable and
      constitute the percentage of the issued and outstanding shares of stock (or other equity interests) of the respective issuers thereof indicated in Exhibit “D” hereto, (ii) with respect to any certificates delivered to the Administrative Agent
      representing an ownership interest in a partnership or limited liability company, either such certificates are Securities as defined in Article 8 of the UCC of the applicable jurisdiction as a result of actions by the issuer or otherwise, or, if such
      certificates are not Securities, such Grantor has so informed the Administrative Agent so that the Administrative Agent may take steps to perfect its security interest therein as a General Intangible and (iii) to the extent reasonably requested by
      the Administrative Agent, all such Pledged Collateral held by a securities intermediary is covered by a control agreement among such Grantor, the securities intermediary and the Administrative Agent pursuant to which the Administrative Agent has
      Control.  Except as set forth in Exhibit “D”, such Grantor owns 100% of the issued and outstanding Equity Interests which constitute Pledged Collateral owned by it and none of the Pledged Collateral which represents Indebtedness owed to such
      Grantor is subordinated in right of payment to other Indebtedness (other than the Secured Obligations) or subject to the terms of an indenture.

     

    
      6

      
        

    

    3.12.    Deposit Accounts and Securities Accounts.  All of such Grantor’s Deposit Accounts and Securities Accounts as of the Effective Date are listed on Exhibit “H”.

     

    ARTICLE IV

     

    COVENANTS

     

    From the date of this Security Agreement and thereafter until this Security Agreement is terminated, each of the Initial Grantors agrees, and from and after the effective date of any Security
      Agreement Supplement applicable to any Grantor (and after giving effect to supplements to each of the Exhibits hereto with respect to such subsequent Grantor as attached to such Security Agreement Supplement) and thereafter until this Security
      Agreement is terminated each such subsequent Grantor agrees:

     

    
      
        
          4.1.      General.

        

      

    

     

    4.1.1  Inspection.  Each Grantor will permit the Administrative Agent (or, if any Event of Default has occurred and is continuing,
      any Secured Party), by its representatives and agents (i) to inspect the Collateral , (ii) to examine and make copies of the records of such Grantor relating to the Collateral and (iii) to discuss the Collateral and the related records of such
      Grantor with, and to be advised as to the same by, such Grantor’s officers and employees (provided that the Grantor may, if it so chooses, be present at or participate in any such discussions), all at such reasonable times during normal business
      hours upon reasonable prior written notice; provided, that so long as no Event of Default has occurred and is continuing, the Administrative Agent and its designated representatives shall not be reimbursed for more than one such visit and
      inspection per year.

     

    4.1.2  Taxes.  Such Grantor will pay when due all taxes, assessments and governmental charges and levies upon the Collateral owned by
      such Grantor in accordance with Section 5.03 of the Credit Agreement.

     

    4.1.3  Records and Reports.  Each Grantor shall maintain all books of record and accounts in accordance with GAAP with respect to the
      Collateral owned by such Grantor, and furnish to the Administrative Agent, with sufficient copies for each of the Secured Parties, such reports relating to the Collateral as the Administrative Agent shall from time to time reasonably request.

     

    
      7

      
        

    

    4.1.4  Financing Statements and Other Actions; Defense of Title.  Each Grantor hereby authorizes the Administrative Agent to file,
      and if requested will execute and deliver to the Administrative Agent, all financing statements describing the Collateral owned by such Grantor and other documents and take such other actions as may from time to time reasonably be requested by the
      Administrative Agent in order to maintain a first priority, perfected security interest in and, if applicable, Control of, the Collateral owned by such Grantor, subject to Liens permitted under Section 6.01 of the Credit Agreement, provided that
      nothing herein shall be deemed to constitute an agreement to subordinate any of the Liens of the Administrative Agent under the Loan Documents to any Liens otherwise permitted under Section 6.01 of the Credit Agreement.  Such financing statements may
      describe the Collateral in the same manner as described herein or may contain an indication or description of collateral that describes such property in any other manner as the Administrative Agent may determine, in its reasonable judgment, is
      necessary to ensure that the perfection of the security interest in the Collateral granted to the Administrative Agent herein, including, without limitation, describing such property as “all assets of the debtor, whether now existing or hereafter
      arising.”  Each Grantor will take commercially reasonable steps to defend title to the Collateral owned by such Grantor against all persons and to defend the security interest of the Administrative Agent in such Collateral and the priority thereof
      against any Lien (other than Liens permitted by Section 6.01 of the Credit Agreement).

     

    4.1.5  Disposition of Collateral.  No Grantor will sell, lease or otherwise dispose of the Collateral owned by such Grantor except
      dispositions specifically permitted by Section 6.04 of the Credit Agreement; provided that sales or leases of Inventory in the ordinary course of business shall be permitted during the continuance of an Event of Default only until such time as the
      Grantor shall receive notice from the Administrative Agent instructing such Grantor to cease such transactions.

     

    4.1.6  Liens.  No Grantor will create, incur, or suffer to exist any Lien on the Collateral owned by such Grantor except Liens
      permitted pursuant to Section 6.01 of the Credit Agreement, provided, that nothing herein shall be deemed to constitute an agreement to subordinate any of the Liens of the Administrative Agent under the Loan Documents to any Liens otherwise
      permitted under Section 6.01 of the Credit Agreement.

     

    4.1.7  Change in Corporate Existence, Type or Jurisdiction of Organization, Chief Executive Office, Name.  Each Grantor will:

     

    
      
        	 	(i)	
                preserve its corporate or other entity existence and organizational structure;

              

      

    

     

    
      
        	

              	(ii)	
                not change its name or jurisdiction of organization;

              

      

    

     

    
      
        	

              	(iii)	
                not maintain its chief executive office at a location other than a location specified in Exhibit “A”; and

              

      

    

     

    
      
        	

              	(iv)	
                change its name or taxpayer identification number,

              

      

    

     

    unless, in each such case, such Grantor shall have given the Administrative Agent not less than thirty (30) days’ prior written notice of such event or occurrence.

     

    4.1.8  Changes in Locations of Equipment and Inventory.  All Inventory, Equipment or Fixtures in excess of $500,000 or proceeds or
      products thereof (other than Inventory and proceeds thereof disposed of as permitted by Section 4.1.5) shall be located at a location specified in Exhibit “A” (as may be updated pursuant to each compliance certificate provided to the
      Administrative Agent pursuant Section 5.04(d) of the Credit Agreement).  For the avoidance of doubt, any previously undisclosed location for which the Grantors provide notice to the Administrative Agent pursuant to a compliance certificate shall
      retroactively be deemed a permitted location under Exhibit “A” for all purposes under this Agreement.

     

    
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    4.1.9  Other Financing Statements.  Each Grantor acknowledges that it is not authorized to file any financing statement or amendment
      or termination statement with respect to any financing statement filed in connection herewith without the prior written consent of the Administrative Agent, subject to such Grantor’s rights under Section 9-509(d)(2) of the UCC.

     

    
      
        
          4.2.       Receivables.

        

      

    

     

    4.2.1  Certain Agreements on Receivables.  During the occurrence and continuation of an Event of Default, no Grantor will make or
      agree to make any discount, credit, rebate or other reduction in the original amount owing on a Receivable or accept in satisfaction of a Receivable less than the original amount thereof (other than a Permitted Receivables Related Asset).  Prior to
      the occurrence and continuation of an Event of Default, such Grantor may reduce the amount owing on any Receivable arising from the sale of Inventory or the rendering of services in accordance with its present policies and in the ordinary course of
      business and as otherwise permitted under the Credit Agreement.

     

    4.2.2  Collection of Receivables.  Except as otherwise provided in this Security Agreement, each Grantor will collect and enforce, at
      such Grantor’s sole expense, all amounts as and when due to such Grantor under the Receivables owned by such Grantor in the ordinary course of business.

     

    4.2.3  Delivery of Invoices.  Each Grantor will deliver to the Administrative Agent immediately upon its request after the occurrence
      of an Event of Default duplicate invoices with respect to each Account owned by such Grantor bearing such language of assignment as the Administrative Agent shall specify.

     

    4.2.4  Disclosure of Counterclaims on Receivables.  If (i) any discount, credit or agreement to make a rebate or to otherwise reduce
      the amount by a material amount owing on a Receivable owned by such Grantor exists (other than a Permitted Receivables Related Asset) or (ii) if, to the knowledge of a Responsible Officer of such Grantor, any material dispute, setoff, claim,
      counterclaim or defense exists or has been asserted or threatened in writing with respect to a Receivable, such Grantor will disclose such fact to the Administrative Agent in writing in connection with the inspection by the Administrative Agent of
      any record of such Grantor relating to such Receivable and in connection with any invoice or report furnished by such Grantor to the Administrative Agent relating to such Receivable.

     

    4.3.      Maintenance of Goods.  Each Grantor will do all things necessary to maintain, preserve, protect and keep the Inventory and the Equipment
      owned by such Grantor in good repair, working order and saleable condition (ordinary wear and tear and casualty excepted) and make all necessary and proper repairs, renewals and replacements so that its business carried on in connection therewith may
      be properly conducted at all times, except, in each case, where the failure to do so, individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect.

     

    
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    4.4.      Instruments, Securities, Chattel Paper, Documents and Pledged Deposits.  Each Grantor will (i) except to the extent otherwise expressly
      provided in the Credit Agreement, deliver to the Administrative Agent immediately upon execution of this Security Agreement the originals of all Chattel Paper and Instruments in excess of $500,000 and all Securities (to the extent certificated)
      constituting Collateral (if any then exist), (ii) hold in trust for the Administrative Agent upon receipt and promptly thereafter deliver to the Administrative Agent any Chattel Paper, Securities and Instruments constituting Collateral, (iii) upon
      the designation of any Pledged Deposits (as set forth in the definition thereof), deliver to the Administrative Agent such Pledged Deposits which are evidenced by certificates included in the Collateral endorsed in blank, marked with such legends and
      assigned as the Administrative Agent shall specify, (iv) upon the Administrative Agent’s request after the occurrence and during the continuance of an Event of Default, deliver to the Administrative Agent (and thereafter hold in trust for the
      Administrative Agent upon receipt and promptly deliver to the Administrative Agent) any Document evidencing or constituting Collateral, and (v) upon the Administrative Agent’s request, deliver to the Administrative Agent a duly executed amendment to
      this Security Agreement, in the form of Exhibit “I” hereto (the “Amendment”), pursuant to which such Grantor will pledge such additional Collateral.  Such Grantor hereby authorizes the Administrative Agent to attach each Amendment to
      this Security Agreement and agrees that all additional Collateral owned by it set forth in such Amendments shall be considered to be part of the Collateral.

     

    4.5.       Uncertificated Securities and Certain Other Investment Property.  Each Grantor will permit the Administrative Agent from time to time to
      cause the appropriate issuers (and, if held with a securities intermediary, such securities intermediary) of uncertificated securities or other types of Investment Property not represented by certificates which are Collateral owned by such Grantor to
      mark their books and records with the numbers and face amounts of all such uncertificated securities or other types of Investment Property not represented by certificates and all rollovers and replacements therefor to reflect the Lien of the
      Administrative Agent granted pursuant to this Security Agreement.  To the extent reasonably requested by the Administrative Agent, each Grantor will use commercially reasonable efforts, with respect to Investment Property constituting Collateral
      owned by such Grantor held with a financial intermediary, to cause such financial intermediary to enter into a control agreement with the Administrative Agent in form and substance reasonably satisfactory to the Administrative Agent.

     

    4.6.       Stock and Other Ownership Interests.

     

    4.6.1  Changes in Capital Structure of Issuers.  Except in each case as permitted in the Credit Agreement, no Grantor will (i) permit
      or suffer any issuer of privately held corporate securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Pledged Collateral owned by such Grantor to dissolve, liquidate, retire
      any of its capital stock or other Instruments or Securities evidencing ownership, reduce its capital or merge or consolidate with any other entity, or (ii) vote any of the Instruments, Securities or other Investment Property owned by such Grantor in
      favor of any of the foregoing except to the extent permitted under Section 6.04 of the Credit Agreement.

     

    4.6.2  Issuance of Additional Securities. Except in each case as permitted in the Credit Agreement, no Grantor will permit or suffer
      the issuer of privately held corporate securities or other ownership interests in a corporation, partnership, joint venture or limited liability company constituting Collateral to issue any such securities or other ownership interests, any right to
      receive the same or any right to receive earnings, except to such Grantor.

     

    
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    4.6.3  Registration of Pledged Securities and other Investment Property.  Each Grantor will permit any registrable Collateral owned
      by such Grantor to be registered in the name of the Administrative Agent or its nominee at any time at the option of the Required Lenders following the occurrence and during the continuance of an Event of Default and without any further consent of
      such Grantor.

     

    4.6.4  Exercise of Rights in Pledged Securities and other Investment Property.  Each Grantor will permit the Administrative Agent or
      its nominee at any time during the continuance of an Event of Default, upon prior notice to such Grantor, to exercise or refrain from exercising any and all voting and other consensual rights pertaining to the Collateral owned by such Grantor or any
      part thereof, and to receive all dividends and interest in respect of such Collateral to be applied in accordance with Section 7.4; provided that, so long as no Event of Default shall have occurred and be continuing, such Grantor may exercise
      any and all voting and other consensual rights pertaining to the Pledged Securities and other Investment Property constituting Collateral of such Grantor and may receive and retain any and all dividends and distributions or interest paid in respect
      thereof to the extent otherwise permitted under the Credit Agreement.

     

    4.7.      Deposit Accounts.  Each Grantor will (i) upon the Administrative Agent’s reasonable request, cause each bank or other financial institution
      in which it maintains (a) a Deposit Account (other than accounts constituting Excluded Assets) to enter into a control agreement with the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent in order to give
      the Administrative Agent Control of the Deposit Account or (b) other deposits (general or special, time or demand, provisional or final) to be notified of the security interest granted to the Administrative Agent hereunder and cause each such bank or
      other financial institution to acknowledge such notification in writing and (ii) upon the Administrative Agent’s request, in the exercise of its reasonable credit judgment (from the perspective of a secured lender), after the occurrence and during
      the continuance of an Event of Default, deliver to each such bank or other financial institution a letter, in form and substance acceptable to the Administrative Agent, transferring ownership of the Deposit Account to the Administrative Agent or
      transferring dominion and control over each such other deposit to the Administrative Agent until such time as no Event of Default exists.  In the case of deposits maintained with Lenders, the terms of such letter shall be subject to the provisions of
      the Credit Agreement regarding setoffs.

     

    4.8.      Letter-of-Credit Rights.  Each Grantor will, upon the Administrative Agent’s request, cause each issuer of a letter of credit in excess of
      $1,000,000, to consent to the assignment of proceeds of such letter of credit in order to give the Administrative Agent Control of the Letter-of-Credit Rights to such letter of credit.

     

    4.9.     Federal, State or Municipal Claims.  Each Grantor will notify the Administrative Agent pursuant to each compliance certificate provided to
      the Administrative Agent pursuant Section 5.04(d) of the Credit Agreement of any Collateral owned by such Grantor which constitutes a claim against the United States government or any state or local government or any instrumentality or agency thereof
      in excess of $500,000, the assignment of which claim is restricted by federal, state or municipal law.  Furthermore, each Grantor will execute and deliver to the Administrative Agent such documents, agreements and instruments, and will take such
      further actions (including, without limitation, the taking of necessary actions under the Federal Assignment of Claims Act of 1940, as amended (31 U.S.C. § 3727 et seq. and 41 U.S.C. § 15 et seq.)), which the Administrative Agent may, from time to
      time, reasonably request, to ensure perfection and priority of the Liens hereunder in respect of material Accounts and General Intangibles owing by any government or instrumentality or agency thereof, all at the expense of the Borrower.

     

    
      11

      
        

    

    4.10.    Insurance.  In the event any Collateral is located in any area that has been designated by the Federal Emergency Management Agency as a
      “Special Flood Hazard Area”, at the Administrative Agent’s request each Grantor shall purchase and maintain flood insurance on such Collateral (including any personal property which is located on any real property leased by such Grantor within a
      “Special Flood Hazard Area”).  The amount of  flood insurance required by this Section shall be in an amount equal to the lesser of the total Commitment or the total replacement cost value of the improvements.

     

    4.11.    Commercial Tort Claims.  If, after the date hereof, any Grantor identifies the existence of a Commercial Tort Claim in excess of $1,000,000
      belonging to such Grantor that has arisen in the course of such Grantor’s business in addition to the Commercial Tort Claims described in Exhibit “F”, which are all of such Grantor’s Commercial Tort Claims in excess of $1,000,000 as of the
      Effective Date, then such Grantor shall give the Administrative Agent prompt notice thereof pursuant to each compliance certificate provided to the Administrative Agent pursuant Section 5.04(d) of the Credit Agreement.  Each Grantor agrees promptly
      upon request by the Administrative Agent to execute and deliver to the Administrative Agent any supplement to this Security Agreement or any other document reasonably requested by the Administrative Agent to evidence the grant of a security interest
      therein in favor of the Administrative Agent.

     

    4.12.    Updating of Exhibits to Security Agreement.  The Borrower will provide to the Administrative Agent, concurrently with the delivery of the
      certificate of a Financial Officer of the Borrower as required by Section 5.04(d) of the Credit Agreement, updated versions of the Exhibit A and F to this Security Agreement (provided that if there have been no changes to any such Exhibits since the
      previous updating thereof required hereby, the Borrower shall indicate that there has been “no change” to the applicable Exhibit(s)).

     

    ARTICLE V

     

    REMEDIAL RIGHTS

     

    5.1.       Acceleration and Remedies.

     

    5.1.1  Upon the acceleration of the Obligations under the Credit Agreement pursuant to Article VII thereof, the Obligations under the Credit
      Agreement and, to the extent provided for under the Swap Agreements and the Banking Services Agreements evidencing the same, the Swap Obligations and the Banking Services Obligations, shall immediately become due and payable without presentment,
      demand, protest or notice of any kind, all of which are hereby expressly waived, and the Administrative Agent may, with the concurrence or at the direction of the Required Lenders, exercise any or all of the following rights and remedies:

     

    
      
        	 	(i)	
                Those rights and remedies provided in this Security Agreement, the Credit Agreement, or any other Loan Document, provided that this clause (i) shall not be understood to limit any rights or remedies available to the
                  Administrative Agent and the Secured Parties prior to an Event of Default.

              

      

    

     

    
      
        	

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

              

      

    

     

    
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              	(iii)	
                Give notice of sole control or any other instruction under any Deposit Account Control Agreement or other control agreement with any securities intermediary and take any action therein with respect to such Collateral.

              

      

    

     

    
      
        	

              	(iv)	
                Without notice (except as specifically provided in Section 8.1 hereof or elsewhere herein), demand or advertisement of any kind to any Grantor or any other Person entering the premises of any Grantor where any Collateral is
                  located (through self-help and without judicial process) to collect, receive, assemble, process, appropriate, sell, lease, assign, grant an option or options to purchase or otherwise dispose of, deliver, or realize upon, the Collateral or
                  any part thereof in one or more parcels at public or private sale or sales (which sales may be adjourned or continued from time to time with or without notice and may take place at any Grantor’s premises or elsewhere), for cash, on credit
                  or for future delivery without assumption of any credit risk, and upon such other terms as the Administrative Agent may deem commercially reasonable.

              

      

    

     

    
      
        	

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

              

      

    

     

    5.1.2  The Administrative Agent, on behalf of the Secured Parties, may comply with any applicable state or federal law requirements in
      connection with a disposition of the Collateral, and such compliance will not be considered to adversely affect the commercial reasonableness of any sale of the Collateral.

     

    5.1.3  The Administrative Agent 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 for the benefit of the Administrative Agent and the other Secured Parties, the whole or any part of the Collateral so sold, free of any right of equity redemption, which equity redemption the Grantor hereby
      expressly releases.

     

    5.1.4  Until the Administrative Agent is able to effect a sale, lease, or other disposition of the Collateral, the Administrative Agent
      shall have the right to hold or use the Collateral, or any part thereof, to the extent that it deems appropriate for the purpose of preserving the Collateral or its value or for any other purpose deemed appropriate by the Administrative Agent.  The
      Administrative Agent may, if it so elects, seek the appointment of a receiver or keeper to take possession of the Collateral and to enforce any of the Administrative Agent’s remedies (for the benefit of the Administrative Agent and the other Secured
      Parties), with respect to such appointment without prior notice or hearing as to such appointment.

     

    5.1.5  If, after the Credit Agreement has terminated by its terms and all of the other Secured Obligations have been paid in full, there
      remain outstanding Swap Obligations or Banking Services Obligations, the Required Lenders may exercise the remedies provided in this Section 5.1 upon the occurrence of any event which would allow or require the termination or acceleration of
      any Swap Obligations or Banking Services Obligations to the extent the Liens hereunder shall not otherwise have been released or terminated in accordance with the terms of the Credit Agreement.

     

    
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    5.1.6  Notwithstanding the foregoing, neither the Administrative Agent nor any other Secured Party shall be required to (i) make any demand
      upon, or pursue or exhaust any of their rights or remedies against, any Grantor, any other obligor, guarantor, pledgor or any other Person with respect to the payment of the Secured Obligations or to pursue or exhaust any of their rights or remedies
      with respect to any Collateral therefor or any direct or indirect guarantee thereof, (ii) marshal the Collateral or any guarantee of the Secured Obligations or to resort to the Collateral or any such guarantee in any particular order, or (iii) effect
      a public sale of any Collateral.

     

    5.1.7  Each Grantor recognizes that the Administrative Agent may be unable to effect a public sale of any or all the Pledged Collateral and
      may be compelled to resort to one or more private sales thereof in accordance with Section 5.1.1 above.  Each Grantor also acknowledges that any private sale may result in prices and other terms less favorable to the seller than if such sale
      were a public sale and, notwithstanding such circumstances, agrees that any such private sale shall not be deemed to have been made in a commercially unreasonable manner solely by virtue of such sale being private.  The Administrative Agent shall be
      under no obligation to delay a sale of any of the Pledged Collateral for the period of time necessary to permit any Grantor or the issuer of the Pledged Collateral to register such securities for public sale under the Securities Act of 1933, as
      amended, or under applicable state securities laws, even if the applicable Grantor and the issuer would agree to do so.

     

    5.2.       Grantors’ Obligations Upon Event of Default.  Upon the request of the Administrative Agent after the occurrence of an Event of Default,
      each Grantor will:

     

    5.2.1  Assembly of Collateral.  Assemble and make available to the Administrative Agent the Collateral and all books and records
      relating thereto at any place or places specified by the Administrative Agent.

     

    5.2.2  Secured Party Access.  Permit the Administrative Agent, by the Administrative Agent’s representatives and agents, to enter,
      occupy and use any premises where all or any part of the Collateral, or the books and records relating thereto, or both, are located, to take possession of all or any part of the Collateral, or the books and records relating thereto, or both, to
      remove all or any part of the Collateral, or the books and records relating thereto, or both, and to conduct sales of the Collateral, without any obligation to pay the Grantor for such use and occupancy.

     

    5.2.3  Prepare and file, or cause an issuer of Pledged Collateral to prepare and file, with the Securities and Exchange Commission or any
      other applicable government agency, registration statements, a prospectus and such other documentation in connection with the Pledged Collateral as the Administrative Agent may reasonably request, all in form and substance reasonably satisfactory to
      the Administrative Agent, and furnish to the Administrative Agent, or cause an issuer of Pledged Collateral to furnish to the Administrative Agent, any information regarding the Pledged Collateral in such detail as the Administrative Agent may
      reasonably specify.

     

    5.2.4  Take commercially reasonable actions, or cause an issuer of Pledged Collateral to take commercially reasonable actions, to register
      or qualify the Pledged Collateral to enable the Administrative Agent to consummate a public sale or other disposition of the Pledged Collateral.

     

    
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    5.3.      License.  Solely for the purpose of enabling the Administrative Agent, during the continuance of an Event of Default, to exercise rights
      and remedies under Section 5.1 hereof at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies, and for no other purpose, the Administrative Agent is hereby granted, to the extent assignable, a
      non-exclusive license to use, without charge, the patents, copyrights, rights of use of any name, trade secrets, tradenames, trademarks, service marks, customer lists, or any property of a similar nature, as it pertains to the Collateral, now owned
      or hereafter acquired by such Grantor.  In addition, each Grantor hereby irrevocably agrees that the Administrative Agent may, following the occurrence and during the continuance of an Event of Default, sell any of such Grantor’s Inventory directly
      to any person, including without limitation persons who have previously purchased such Grantor’s Inventory from such Grantor and in connection with any such sale or other enforcement of the Administrative Agent’s rights under this Security Agreement,
      may sell Inventory which bears any trademark owned by such Grantor and any Inventory that is covered by any copyright owned by Grantor and the Administrative Agent may finish any work in process and affix any trademark owned by such Grantor and sell
      such Inventory as provided herein.

     

    ARTICLE VI

     

    WAIVERS, AMENDMENTS AND REMEDIES

     

    No delay or omission of the Administrative Agent or any Secured Party to exercise any right or remedy granted under this Security Agreement shall impair such right or remedy or be construed to be a
      waiver of any Default or Event of Default or an acquiescence therein, and any single or partial exercise of any such right or remedy shall not preclude any other or further exercise thereof or the exercise of any other right or remedy.  No waiver,
      amendment or other variation of the terms, conditions or provisions of this Security Agreement whatsoever shall be valid unless in writing signed by the Administrative Agent and each Grantor, and then only to the extent in such writing specifically
      set forth, provided that the addition of any Material Domestic Subsidiary as a Grantor hereunder by execution of a Security Agreement Supplement in the form of Annex I (with such modifications as shall be acceptable to the Administrative
      Agent) shall not require receipt of any consent from or execution of any documentation by any other Grantor party hereto.  All rights and remedies contained in this Security Agreement or by law afforded shall be cumulative and all shall be available
      to the Administrative Agent and the Secured Parties until the Secured Obligations have been paid in full.

     

    ARTICLE VII

     

    PROCEEDS; COLLECTION OF RECEIVABLES

     

    7.1.      Lockboxes.  Upon request of the Administrative Agent after the occurrence of an Event of Default, each Grantor shall execute and deliver to
      the Administrative Agent irrevocable lockbox agreements in the form provided by or otherwise acceptable to the Administrative Agent, which agreements shall be accompanied by an acknowledgment by the bank where the lockbox is located of the Lien of
      the Administrative Agent granted hereunder and of irrevocable instructions to wire all amounts collected therein to a special collateral account at the Administrative Agent.

     

    7.2.      Collection of Receivables.  The Administrative Agent may at any time after the occurrence of an Event of Default, by giving each Grantor
      written notice, elect to require that the Receivables be paid directly to the Administrative Agent for the benefit of the Secured Parties.  In such event, each Grantor shall, and shall permit the Administrative Agent to, promptly notify the account
      debtors or obligors under the Receivables owned by such Grantor of the Administrative Agent’s interest therein and direct such account debtors or obligors to make payment of all amounts then or thereafter due under such Receivables directly to the
      Administrative Agent.  Upon receipt of any such notice from the Administrative Agent, each Grantor shall thereafter hold in trust for the Administrative Agent, on behalf of the Secured Parties, all amounts and proceeds received by it with respect to
      the Receivables and Other Collateral and promptly and at all times thereafter deliver to the Administrative Agent all such amounts and proceeds in the same form as so received, whether by cash, check, draft or otherwise, with any necessary
      endorsements.  The Administrative Agent shall hold and apply funds so received as provided by the terms of Sections 7.3 and 7.4 hereof.

     

    
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    7.3.      Special Collateral Account.  The Administrative Agent may, at any time after the occurrence and during the continuation of an Event of
      Default, require all cash proceeds of the Collateral to be deposited in a special non-interest bearing cash collateral account with the Administrative Agent and held there as security for the Secured Obligations.  No Grantor shall have any control
      whatsoever over said cash collateral account.  If any Event of Default has occurred and is continuing, the Administrative Agent may (and shall, at the direction of the Required Lenders), from time to time, apply the collected balances in said cash
      collateral account to the payment of the Secured Obligations whether or not the Secured Obligations shall then be due.

     

    7.4.       Application of Proceeds.  The proceeds of the Collateral shall be applied by the Administrative Agent to payment of the Secured
      Obligations as provided under Section 2.18 of the Credit Agreement.

     

    ARTICLE VIII

     

    GENERAL PROVISIONS

     

    8.1.       Notice of Disposition of Collateral; Condition of Collateral.  To the extent permitted by law, each Grantor hereby waives notice of the
      time and place of any public sale or the time after which any private sale or other disposition of all or any part of the Collateral may be made.  To the extent such notice may not be waived under applicable law, any notice made shall be deemed
      reasonable if sent to the Borrower, addressed as set forth in Article IX, at least ten (10) days prior to (i) the date of any such public sale or (ii) the time after which any such private sale or other disposition may be made.  The
      Administrative Agent shall have no obligation to clean-up or otherwise prepare the Collateral for sale.  To the maximum extent permitted by applicable law, each Grantor waives all claims, damages, and demands against the Administrative Agent or any
      other Secured Party arising out of the repossession, retention or sale of the Collateral, except such as arise solely out of the gross negligence or willful misconduct of the Administrative Agent or such other Secured Party (or material breach of its
      express obligations under this Agreement, as determined pursuant to a claim initiated by the Borrower) as finally determined by a court of competent jurisdiction. To the extent it may lawfully do so, each Grantor absolutely and irrevocably waives and
      relinquishes the benefit and advantage of, and covenants not to assert against the Administrative Agent or any other Secured Party, any valuation, stay, appraisal, extension, moratorium, redemption or similar laws and any and all rights or defenses
      it may have as a surety now or hereafter existing which, but for this provision, might be applicable to the sale of any Collateral made under the judgment, order or decree of any court, or privately under the power of sale conferred by this Security
      Agreement, or otherwise.  Except as otherwise specifically provided herein, each Grantor hereby waives presentment, demand, protest or any notice (to the maximum extent permitted by applicable law) of any kind in connection with this Security
      Agreement or any Collateral.

     

    
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    8.2.       Limitation on Administrative Agent’s and other Secured Parties’ Duty with Respect to the Collateral.  The Administrative Agent shall have
      no obligation to clean-up or otherwise prepare the Collateral for sale. The Administrative Agent and each other Secured Party shall use reasonable care with respect to the Collateral in its possession or under its control and shall account for monies
      actually received by it hereunder.  Neither the Administrative Agent nor any other Secured Party shall have any other duty as to any Collateral in its possession or control or in the possession or control of any agent or nominee of the Administrative
      Agent or such other Secured Party, or any income thereon or as to the preservation of rights against prior parties or any other rights pertaining thereto. To the extent that applicable law imposes duties on the Administrative Agent to exercise
      remedies in a commercially reasonable manner, each Grantor acknowledges and agrees that it is commercially reasonable for the Administrative Agent (i) to fail to incur expenses deemed significant by the Administrative Agent to prepare the Collateral
      for disposition or otherwise to transform raw material or work in process into finished goods or other finished products for disposition, (ii) to fail to obtain third party consents for access to the Collateral to be disposed of, or to obtain or, if
      not required by other law, to fail to obtain governmental or third party consents for the collection or disposition of the Collateral to be collected or disposed of, (iii) to fail to exercise collection remedies against account debtors or other
      Persons obligated on the Collateral or to remove Liens on or any adverse claims against the Collateral, (iv) to exercise collection remedies against account debtors and other Persons obligated on the Collateral directly or through the use of
      collection agencies and other collection specialists, (v) to advertise dispositions of the Collateral through publications or media of general circulation, whether or not the Collateral is of a specialized nature, (vi) to contact other Persons,
      whether or not in the same business as such Grantor, for expressions of interest in acquiring all or any portion of such Collateral, (vii) to hire one or more professional auctioneers to assist in the disposition of the Collateral, whether or not the
      Collateral is of a specialized nature, (viii) to dispose of the Collateral by utilizing internet sites that provide for the auction of assets of the types included in the Collateral or that have the reasonable capacity of doing so, or that match
      buyers and sellers of assets, (ix) to dispose of assets in wholesale rather than retail markets, (x) to disclaim disposition warranties, such as title, possession or quiet enjoyment, (xi) to purchase insurance or credit enhancements to insure the
      Administrative Agent against risks of loss, collection or disposition of Collateral or to provide to the Administrative Agent a guaranteed return from the collection or disposition of Collateral, or (xii) to the extent deemed appropriate by the
      Administrative Agent, to obtain the services of other brokers, investment bankers, consultants and other professionals to assist the Administrative Agent in the collection or disposition of any of the Collateral.  Each Grantor acknowledges that the
      purpose of this Section 8.2 is to provide non-exhaustive indications of what actions or omissions by the Administrative Agent would be commercially reasonable in the Administrative Agent’s exercise of remedies against the Collateral and that
      other actions or omissions by the Administrative Agent shall not be deemed commercially unreasonable solely on account of not being indicated in this Section 8.2.  Without limitation upon the foregoing, nothing contained in this Section
        8.2 shall be construed to grant any rights to any Grantor or to impose any duties on the Administrative Agent that would not have been granted or imposed by this Security Agreement or by applicable law in the absence of this Section 8.2.

     

    8.3.      Compromises and Collection of Collateral.  Each Grantor and the Administrative Agent recognize that setoffs, counterclaims, defenses and
      other claims may be asserted by obligors with respect to certain of the Receivables, that certain of the Receivables may be or become uncollectible in whole or in part and that the expense and probability of success in litigating a disputed
      Receivable may exceed the amount that reasonably may be expected to be recovered with respect to a Receivable.  In view of the foregoing, each Grantor agrees that the Administrative Agent may at any time and from time to time, if an Event of Default
      has occurred and is continuing, compromise with the obligor on any Receivable, accept in full payment of any Receivable such amount as the Administrative Agent in its sole discretion shall determine or abandon any Receivable, and any such action by
      the Administrative Agent shall be commercially reasonable so long as the Administrative Agent acts in good faith based on information known to it at the time it takes any such action.

     

    8.4.      Secured Party Performance of Grantor’s Obligations.  Without having any obligation to do so, the Administrative Agent may perform or pay
      any obligation which any Grantor has agreed to perform or pay in this Security Agreement but has failed to so perform or pay (after the expiration of any applicable grace periods) and such Grantor shall reimburse the Administrative Agent for any
      reasonable amounts paid by the Administrative Agent pursuant to this Section 8.4.  Each Grantor’s obligation to reimburse the Administrative Agent pursuant to the preceding sentence shall be a Secured Obligation payable not later than fifteen
      (15) days after written demand (together with reasonably detailed invoices) therefor.

     

    
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    8.5.       Authorization for Secured Party to Take Certain Action.  Each Grantor irrevocably authorizes the Administrative Agent at any time and from
      time to time in the sole discretion of the Administrative Agent and appoints the Administrative Agent as its attorney in fact (i) to execute on behalf of such Grantor as debtor and to file financing statements necessary or desirable in the
      Administrative Agent’s sole discretion to perfect and to maintain the perfection and priority of the Administrative Agent’s security interest in the Collateral, (ii) during the continuation of an Event of Default, to indorse and collect any cash
      proceeds of the Collateral, (iii) to file a carbon, photographic or other reproduction of this Security Agreement or any financing statement with respect to the Collateral as a financing statement and to file any other financing statement or
      amendment of a financing statement (which does not add new collateral or add a debtor) in such offices as the Administrative Agent in its sole discretion deems necessary or desirable to perfect and to maintain the perfection and priority of the
      Administrative Agent’s security interest in the Collateral, (iv) to enter into one or more agreements with the issuers of uncertificated securities which are Collateral owned by such Grantor and which are Securities or with financial intermediaries
      holding other Investment Property as may be necessary or advisable to give the Administrative Agent Control over such Securities or other Investment Property, (v) during the continuation of an Event of Default and subject to the terms of Section
        4.1.5 hereof, to enforce payment of the Instruments, Accounts and Receivables in the name of the Administrative Agent or such Grantor, (vi) during the continuation of an Event of Default, to apply the proceeds of any Collateral received by the
      Administrative Agent to the Secured Obligations as provided in Article VII and (vii) to discharge past due taxes, assessments, charges, fees or Liens on the Collateral (except for such Liens as are specifically permitted hereunder or under
      any other Loan Document), and each Grantor agrees to reimburse the Administrative Agent within five (5) Business Days after written demand for any reasonable payment made or any reasonable expense incurred by the Administrative Agent in connection
      therewith, provided that this authorization shall not relieve any Grantor of any of its obligations under this Security Agreement or under the Credit Agreement. Each Grantor ratifies, if applicable, its authorization for the Administrative Agent to
      have filed any initial financing statements or amendments thereto if filed before the date of this Security Agreement (including, without limitation, any filings made in connection with the Existing Security Agreement).

     

    8.6.      Specific Performance of Certain Covenants.  Each Grantor acknowledges and agrees that a breach of any of the covenants contained in Sections

        4.1.5, 4.1.6, 4.4, 5.2, or 8.8 or in Article VII hereof will cause irreparable injury to the Administrative Agent and the Secured Parties, that the Administrative Agent and Secured Parties have no
      adequate remedy at law in respect of such breaches and therefore agrees, without limiting the right of the Administrative Agent or the Secured Parties to seek and obtain specific performance of other obligations of the Grantors contained in this
      Security Agreement, that the covenants of the Grantors contained in the Sections referred to in this Section 8.6 shall be specifically enforceable against the Grantors.

     

    8.7.      Use and Possession of Certain Premises.  Upon the occurrence and during the continuance of an Event of Default, the Administrative Agent
      shall be entitled to occupy and use any premises owned or leased by the Grantors where any of the Collateral or any records relating to the Collateral are located until the Secured Obligations are paid or the Collateral is removed therefrom,
      whichever first occurs, without any obligation to pay any Grantor for such use and occupancy.

     

    8.8.     Dispositions Not Authorized.  No Grantor is authorized to sell or otherwise dispose of the Collateral except as set forth in Section
        4.1.5 hereof and notwithstanding any course of dealing between any Grantor and the Administrative Agent or other conduct of the Administrative Agent, no authorization to sell or otherwise dispose of the Collateral (except as set forth in Section

        4.1.5 hereof) shall be binding upon the Administrative Agent or the Secured Parties unless such authorization is in writing signed by the Administrative Agent with the consent or at the direction of the Required Lenders.

     

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

     

    8.10.    Benefit of Agreement.  The terms and provisions of this Security Agreement shall be binding upon and inure to the benefit of the Grantors,
      the Administrative Agent and the Secured Parties and their respective successors and assigns (including all persons who become bound as a debtor to this Security Agreement), except that the Grantors shall not have the right to assign their rights or
      delegate their obligations under this Security Agreement or any interest herein, without the prior written consent of the Administrative Agent.  No sales of participations, assignments, transfers, or other dispositions of any agreement governing the
      Secured Obligations or any portion thereof or interest therein shall in any manner impair the Lien granted to the Administrative Agent, for the benefit of the Administrative Agent and the other Secured Parties, hereunder.

     

    8.11.     Survival of Representations.  All representations and warranties of the Grantors contained in this Security Agreement shall survive the
      execution and delivery of this Security Agreement.

     

    8.12.     Taxes and Expenses.  Sections 2.17 and 9.03 of the Credit Agreement shall be applicable, mutatis mutandis, to all payments made by any
      Grantor under this Security Agreement.  Any Indemnified Taxes payable or ruled payable by a Federal or State authority in respect of this Security Agreement shall be paid by the Grantors in accordance with the Credit Agreement.  The Grantors shall
      reimburse the Administrative Agent for any and all reasonable and documented out-of-pocket expenses in connection with the preparation, execution, delivery, administration, collection and enforcement of this Security Agreement and in the audit,
      analysis, administration, collection, preservation or sale of the Collateral in accordance with the terms, and subject to the limitations contained in, Section 9.03(a) of the Credit Agreement.

     

    8.13.     Headings.  The title of and section headings in this Security Agreement are for convenience of reference only, and shall not govern the
      interpretation of any of the terms and provisions of this Security Agreement.

     

    8.14.     Termination.  This Security Agreement shall continue in effect (notwithstanding the fact that from time to time there may be no Secured
      Obligations outstanding) until (i) any and all commitments to extend credit under the Loan Documents have terminated, and the Credit Agreement has terminated pursuant to its express terms and (ii) all of the Secured Obligations (other than
      Unliquidated Obligations) have been indefeasibly paid in cash and performed in full (or with respect to any outstanding Letters of Credit, a cash deposit or backup Letter of Credit has been delivered to the Administrative Agent as required by the
      Credit Agreement) and no commitments of the Administrative Agent or the Secured Parties which would give rise to any Obligations are outstanding.

     

    
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    8.15.    Entire Agreement.  This Security Agreement embodies the entire agreement and understanding between the Grantors and the Administrative Agent
      relating to the Collateral and supersedes all prior agreements and understandings among the Grantors and the Administrative Agent relating to the Collateral.

     

    8.16.     Governing Law; Jurisdiction; Waiver of Jury Trial.

     

    8.16.1  THIS SECURITY AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT AS OTHERWISE EXPRESSLY SET FORTH IN
        ANY SUCH OTHER LOAN DOCUMENT) SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF NEW YORK.

     

    8.16.2  Each Grantor hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the
      United States District Court for the Southern District of New York sitting in the Borough of Manhattan (or if such court lacks subject matter jurisdiction, the Supreme Court of the State of New York sitting in the  Borough of Manhattan), and any
      appellate court from any thereof, in any action or proceeding arising out of or relating to this Security Agreement or any other Loan Document or the transactions relating hereto or thereto, 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 may (and any such claims, cross-claims or third party claims brought against the Administrative Agent or any of its
      Related Parties may only) be heard and determined in such Federal (to the extent permitted by law) or New York State 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 Security Agreement or in any other Loan Document shall affect any right that the Administrative Agent, any Issuing Bank or any Lender may
      otherwise have to bring any action or proceeding relating to this Security Agreement or any other Loan Document against any Grantor or its properties in the courts of any jurisdiction.

     

    8.16.3  Each of the parties hereto 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 Security Agreement or any other Loan Document in any court referred to in Section 8.16.2 of this
      Security Agreement.  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.

     

    8.16.4  Each party to this Security Agreement irrevocably consents to service of process in the manner provided for notices in Article
        IX of this Security Agreement, and each of the Grantors hereby appoints the Borrower as its agent for service of process.  Nothing in this Security Agreement or any other Loan Document will affect the right of any party to this Security
      Agreement to serve process in any other manner permitted by law.

     

    
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    8.16.5  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 SECURITY AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS
        CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY).  EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER 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 SECURITY AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL
        WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     

    8.17.    Indemnity.  Each Grantor hereby agrees, jointly with the other Grantors and severally, to indemnify the Administrative Agent and the Secured
      Parties, and their respective successors, assigns, agents and employees (the “Indemnitees”), from and against any and all liabilities, damages, penalties, suits, costs, and expenses of any kind and nature imposed on, incurred by or asserted
      against the Indemnitees, in any way relating to or arising out of this Security Agreement or any other Loan Document, or the manufacture, purchase, acceptance, rejection, ownership, delivery, lease, possession, use, operation, condition, sale, return
      or other disposition of any Collateral (including, without limitation, latent and other defects, whether or not discoverable by the Administrative Agent or the Secured Parties or any Grantor, and any claim for patent, trademark or copyright
      infringement); provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages, liabilities or related expenses are determined by a court of competent jurisdiction by final and
      nonappealable judgment to have resulted from the gross negligence or willful misconduct (or material breach of its express obligations under the Loan Documents as determined pursuant to a claim initiated by the Borrower) of such Indemnitee.

     

    8.18.    Subordination of Intercompany Indebtedness.  Each Grantor agrees that any and all claims of such Grantor against any other Grantor (each an
      “Obligor”) with respect to any “Intercompany Indebtedness” (as hereinafter defined), any endorser, obligor or any other guarantor of all or any part of the Secured Obligations, or against any of its properties shall be subordinate and subject
      in right of payment to the prior payment, in full and in cash, of all Secured Obligations, provided that, and not in contravention of the foregoing, so long as no Event of Default has occurred and is continuing, such Grantor may make loans to and
      receive payments with respect to such Intercompany Indebtedness from each such Obligor to the extent not prohibited by the terms of this Security Agreement and the other Loan Documents.  Notwithstanding any right of any Grantor to ask, demand, sue
      for, take or receive any payment from any Obligor, all rights, liens and security interests of such Grantor, whether now or hereafter arising and howsoever existing, in any assets of any other Obligor shall be and are subordinated to the rights of
      the Secured Parties and the Administrative Agent in those assets.  No Grantor shall have any right to possession of any such asset or to foreclose upon any such asset, whether by judicial action or otherwise, unless and until this Security Agreement
      has terminated in accordance with Section 8.14.  If all or any part of the assets of any Obligor, or the proceeds thereof, are subject to any distribution, division or application to the creditors of such Obligor, whether partial or complete,
      voluntary or involuntary, and whether by reason of liquidation, bankruptcy, arrangement, receivership, assignment for the benefit of creditors or any other action or proceeding, or if the business of any such Obligor is dissolved or if substantially
      all of the assets of any such Obligor are sold, then, and in any such event (such events being herein referred to as an “Insolvency Event”), any payment or distribution of any kind or character, either in cash, securities or other property,
      which shall be payable or deliverable upon or with respect to any indebtedness of any Obligor to any Grantor (“Intercompany Indebtedness”) shall be paid or delivered directly to the Administrative Agent for application on any of the Secured
      Obligations, due or to become due, until such Secured Obligations (other than contingent indemnity obligations) shall have first been fully paid and satisfied (in cash).  Should any payment, distribution, security or instrument or proceeds thereof be
      received by the applicable Grantor upon or with respect to the Intercompany Indebtedness after any Insolvency Event and prior to the termination of this Security Agreement in accordance with Section 8.14, such Grantor shall receive and hold
      the same in trust, as trustee, for the benefit of the Secured Parties and shall forthwith deliver the same to the Administrative Agent, for the benefit of the Secured Parties, in precisely the form received (except for the endorsement or assignment
      of the Grantor where necessary), for application to any of the Secured Obligations, due or not due, and, until so delivered, the same shall be held in trust by the Grantor as the property of the Secured Parties.  If any such Grantor fails to make any
      such endorsement or assignment to the Administrative Agent, the Administrative Agent or any of its officers or employees is irrevocably authorized to make the same.  Each Grantor agrees that until the termination of this Security Agreement in
      accordance with Section 8.14, no Grantor will assign or transfer to any Person (other than the Administrative Agent or the Borrower or another Grantor) any claim any such Grantor has or may have against any Obligor.

     

    
      21

      
        

    

    8.19.    Severability.  Any provision in this Security Agreement that is held to be inoperative, unenforceable, or invalid in any jurisdiction shall,
      as to that jurisdiction, be inoperative, unenforceable, or invalid without affecting the remaining provisions in that jurisdiction or the operation, enforceability, or validity of that provision in any other jurisdiction, and to this end the
      provisions of this Security Agreement are declared to be severable.

     

    8.20.    Counterparts.  This Security Agreement may be executed in counterparts (and by different parties hereto in
        different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract.  Delivery of an executed counterpart of a signature page of this Security Agreement by telecopy, e-mailed
        .pdf or any other electronic means that reproduces an image of the actual executed signature page shall be effective as delivery of a manually executed counterpart of this Security Agreement.  The words
        “execution,” “signed,” “signature,” “delivery,” and words of like import in or relating to any  document to be signed in connection with this Security Agreement and the transactions contemplated hereby shall be deemed to include Electronic
        Signatures, deliveries 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, physical delivery thereof 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.

     

    ARTICLE IX

     

    NOTICES

     

    9.1.       Sending Notices.  Any notice required or permitted to be given under this Security Agreement shall be sent (and deemed received) in the
      manner and to the addresses set forth in Section 9.01 of the Credit Agreement.  Any notice delivered to the Borrower shall be deemed to have been delivered to all of the Grantors.

     

    9.2.       Change in Address for Notices.  Each of the Grantors, the Administrative Agent and the Lenders may change the address for service
      of notice upon it by a notice in writing to the other parties.

     

    

    
      22

      
        

    

    
    ARTICLE X

     

    THE ADMINISTRATIVE AGENT

     

    JPMorgan Chase Bank, N.A. has been appointed Administrative Agent for the Secured Parties hereunder pursuant to Article VIII of the Credit Agreement.  It is expressly understood and agreed by the
      parties to this Security Agreement that any authority conferred upon the Administrative Agent hereunder is subject to the terms of the delegation of authority made by the Secured Parties to the Administrative Agent pursuant to the Credit Agreement,
      and that the Administrative Agent has agreed to act (and any successor Administrative Agent shall act) as such hereunder only on the express conditions contained in such Article VIII.  Any successor Administrative Agent appointed pursuant to
      Article VIII of the Credit Agreement shall be entitled to all the rights, interests and benefits of the Administrative Agent hereunder.

     

    [Signature Pages Follow]

    

    

    
      23

      
        

    

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

     

    	 	
            TREDEGAR CORPORATION, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
             Michael J. Schewel

          
	 	
            Title:

          	
            Vice President, General Counsel and Secretary

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS CORPORATION, as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (U.S.) LLC, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR PERFORMANCE FILMS INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
             Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    Signature Page to Amended and Restated Pledge and Security Agreement

    

    

    
      
        

    

    	 	
            BON L MANUFACTURING COMPANY, as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            AACOA EXTRUSIONS, INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            THE WILLIAM L. BONNELL COMPANY, INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            FUTURA INDUSTRIES CORPORATION, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR PERSONAL CARE, LLC, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    
      Signature Page to Amended and Restated Pledge and Security Agreement

    

    

    

    
      
        

    

    	 	
            TREDEGAR SURFACE PROTECTION, LLC, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FAR EAST CORPORATION, as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (EUROPE), INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR INVESTMENTS II, LLC, as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILMS DEVELOPMENT, INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            TREDEGAR FILM PRODUCTS (LATIN AMERICA). INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

     

    

    
      Signature Page to Amended and Restated Pledge and Security Agreement

    

     

    

    
      
        

    

    	 	
            TAC HOLDINGS, LLC, as a Grantor

          
	 	 	 
	 	
            By:

          	
             /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    	 	
            AACOA, INC., as a Grantor

          
	 	 	 
	 	
            By:

          	
            /s/ Michael J. Schewel

          

    	 	
            Name:

          	
            Michael J. Schewel

          
	 	
            Title:

          	
            Vice President

          

    

    

    
      Signature Page to Amended and Restated Pledge and Security Agreement

       

      

    

    
      
        

    

    	
            JPMORGAN CHASE BANK, N.A., as Administrative Agent

          
	 
	
            By:

          	
             /s/ Joon Hur

          	 

    	
            Name:

          	
            Joon Hur

          
	
            Title:

          	
            Executive Director

          

    

    

    
      Signature Page to Amended and Restated Pledge and Security Agreement

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