Document:

EX-10.1

 Exhibit 10.1 

Execution Version 
  

 
  

NOTES COLLATERAL AGREEMENT 
 dated
as of 
 May 30, 2019, 

among 
 BUILDERS FIRSTSOURCE,
INC., 
 THE OTHER GRANTORS PARTY HERETO, 

and 
 WILMINGTON TRUST, NATIONAL
ASSOCIATION, 
 as Notes Collateral Agent 
  

 
  

 TABLE OF CONTENTS 
  

							
	ARTICLE I	  

	
	DEFINITIONS	  

			
	 SECTION 1.01.
	 	 Defined Terms
	  	 	1	 
	 SECTION 1.02.
	 	 Other Defined Terms
	  	 	2	 
	
	ARTICLE II	  

	
	PLEDGE OF SECURITIES	  

			
	 SECTION 2.01.
	 	 Pledge
	  	 	6	 
	 SECTION 2.02.
	 	 Delivery of the Pledged Collateral
	  	 	6	 
	 SECTION 2.03.
	 	 Representations, Warranties and Covenants
	  	 	7	 
	 SECTION 2.04.
	 	 Registration in Nominee Name; Denominations
	  	 	8	 
	 SECTION 2.05.
	 	 Voting Rights; Dividends and Interest
	  	 	9	 
	 SECTION 2.06.
	 	 Article 8 Opt-In
	  	 	10	 
	
	ARTICLE III	  

	
	SECURITY INTERESTS IN PERSONAL PROPERTY	  

			
	 SECTION 3.01.
	 	 Security Interest
	  	 	11	 
	 SECTION 3.02.
	 	 Representations and Warranties
	  	 	13	 
	 SECTION 3.03.
	 	 Covenants
	  	 	15	 
	 SECTION 3.04.
	 	 Other Actions
	  	 	16	 
	 SECTION 3.05.
	 	 Covenants Regarding Patent, Trademark and Copyright Collateral
	  	 	17	 
	
	ARTICLE IV	  

	
	REMEDIES	  

			
	 SECTION 4.01.
	 	 Remedies upon Default
	  	 	18	 
	 SECTION 4.02.
	 	 Application of Proceeds
	  	 	19	 
	 SECTION 4.03.
	 	 Securities Act
	  	 	20	 
	 SECTION 4.04.
	 	 Grant of License to Use Intellectual Property
	  	 	21	 
	
	ARTICLE V	  

	
	MISCELLANEOUS	  

			
	 SECTION 5.01.
	 	 Notices
	  	 	21	 
	 SECTION 5.02.
	 	 Waivers; Amendment
	  	 	22	 
	 SECTION 5.03.
	 	 Notes Collateral Agent’s Fees and Expenses; Indemnification
	  	 	22	 
	 SECTION 5.04.
	 	 Successors and Assigns
	  	 	22	 
	 SECTION 5.05.
	 	 Survival of Agreement
	  	 	22	 

							
	 SECTION 5.06.
	 	 Counterparts; Effectiveness; Several Agreement
	  	 	22	 
	 SECTION 5.07.
	 	 Severability
	  	 	23	 
	 SECTION 5.08.
	 	 [Reserved]
	  	 	23	 
	 SECTION 5.09.
	 	 Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process
Agent
	  	 	23	 
	 SECTION 5.10.
	 	 WAIVER OF JURY TRIAL
	  	 	24	 
	 SECTION 5.11.
	 	 Headings
	  	 	24	 
	 SECTION 5.12.
	 	 Security Interest Absolute
	  	 	24	 
	 SECTION 5.13.
	 	 Termination or Release
	  	 	24	 
	 SECTION 5.14.
	 	 Additional Subsidiaries
	  	 	25	 
	 SECTION 5.15.
	 	 Notes Collateral Agent Appointed
Attorney-in-Fact
	  	 	25	 
	 SECTION 5.16.
	 	 Pari Passu Intercreditor Agreement and ABL/Bond Intercreditor Agreement Governs
	  	 	26	 
	 SECTION 5.17.
	 	 Delivery of Collateral
	  	 	26	 
	 SECTION 5.18.
	 	 No Liability
	  	 	26	 

  

			
	Schedules	  	
	Schedule I	  	 Grantors

	Schedule II	  	 Pledged Equity Interests; Pledged Debt Securities

	Schedule III	  	 Intellectual Property

	Schedule IV	  	 Commercial Tort Claims

		
	Exhibits	  	
		
	Exhibit I	  	 Form of Grantor Supplement

	Exhibit II	  	 Form of Copyright Security Agreement

	Exhibit III	  	 Form of Patent Security Agreement

	Exhibit IV	  	 Form of Trademark Security Agreement

 NOTES COLLATERAL AGREEMENT 

NOTES COLLATERAL AGREEMENT dated as of May 30, 2019 (as amended, restated, supplemented or otherwise modified from time to time, this
“Agreement”) among BUILDERS FIRSTSOURCE, INC., a Delaware corporation (the “Issuer”), the other GRANTORS from time to time party hereto and WILMINGTON TRUST, NATIONAL ASSOCIATION, a national banking association, as
Notes Collateral Agent (in such capacity, together with its successors and assigns, the “Notes Collateral Agent”). 

PRELIMINARY STATEMENTS 

WHEREAS, reference is made to the Indenture dated as of the date hereof (as amended, supplemented or otherwise modified from time to
time, the “Indenture”), by and among the Issuer, the Guarantors party thereto from time to time (the “Guarantors”) and Wilmington Trust, National Association, as trustee (the “Trustee”) and Notes
Collateral Agent. Pursuant to the Indenture, the Issuer has agreed to issue $400,000,000 in aggregate principal amount of 6.750% Senior Secured Notes due 2027 (together with any Additional Notes, the “Notes”), and the Issuer and the
Guarantors have agreed to enter into this Agreement for the benefit of the Notes Collateral Agent and the Trustee and for the equal and ratable benefit of the holders of the Notes. 

WHEREAS, the Issuer is willing to secure its obligations under the Indenture, the Notes and the Collateral Documents by granting Liens
on substantially all of its assets to the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, as provided herein and in the other Collateral Documents; 

WHEREAS, the Issuer is willing to cause each of its Subsidiaries that execute the Indenture to (i) guarantee the foregoing
obligations of the Issuer and (ii) secure such guarantee thereof by granting Liens on substantially all of the assets of such Subsidiary Grantors to the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, as provided
herein and the other Collateral Documents; 
 WHEREAS, it is a condition precedent to the issuance of the Notes that (i) the
foregoing obligations of the Issuer be secured and guaranteed as described above and (ii) each guarantee thereof be secured by Liens on substantially all of the assets of the Grantors as provided herein and in the other Collateral Documents;
and 
 WHEREAS, upon any foreclosure or other enforcement of the Collateral Documents, certain net proceeds of, or other collections
on, the relevant Collateral are, subject to the terms of the Intercreditor Agreements, to be applied as provided therein; 

ACCORDINGLY, the parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. (a) Each capitalized term used but not defined herein shall have the meaning assigned
thereto in the Indenture; provided that each term defined in the New York UCC and not defined in this Agreement or the Indenture shall have the meaning specified in the New York UCC. The term “instrument” shall have the meaning
specified in Article 9 of the New York UCC. 
 (b) The rules of construction specified in Section 1.4 of the Indenture also apply
to this Agreement, mutatis mutandis. 

  
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 SECTION 1.02. Other Defined Terms. As used in this Agreement, the
following terms have the meanings specified below: 
 “ABL Credit Agreement” means the Amended and Restated ABL Credit
Agreement dated as of July 31, 2015 among the Issuer, the Subsidiaries of the Issuer party thereto, SunTrust Bank, as administrative and collateral agent, and the lenders party thereto from time to time, as amended by Amendment No. 1 dated
as of March 22, 2017, Amendment No. 2 dated April 24, 2019, and as further amended, modified, supplemented, substituted, replaced, restated or refinanced, in whole or in part, from time to time (whether with the original
administrative agent and lenders or other agents and lenders or otherwise and whether provided under the original ABL Credit Agreement or another credit agreement, indenture, instrument, other document or otherwise, unless such credit agreement,
indenture, instrument or document expressly provides that it is not an ABL Credit Agreement). 
 “ABL Representative” means
initially, SunTrust Bank, in its capacity as administrative agent and collateral agent under the ABL Credit Agreement and the other ABL Loan Documents and any other administrative agent, collateral agent or representative of the holders of ABL
Obligations appointed as a representative for purposes related to the administration of the Collateral Documents pursuant to the ABL Credit Agreement, in such capacity as provided in the ABL Credit Agreement. 

“Account Debtor” means any Person that is or may become obligated to any Grantor under, with respect to or on account of an
Account, Chattel Paper or General Intangible. 
 “After-acquired Debt” has the meaning set forth in the definition of
Pledged Collateral. 
 “After-acquired Shares” has the meaning set forth in the definition of Pledged Collateral. 

“Agreement” has the meaning assigned to such term in the preamble to this Agreement. 

“Article 9 Collateral” has the meaning assigned to such term in Section 3.01. 

“Collateral” means Article 9 Collateral and Pledged Collateral. 

“Copyright Security Agreement” means the Copyright Security Agreement substantially in the form of Exhibit II hereto.

  
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 “Copyrights” shall mean, with respect to any Grantor, all of such
Grantor’s right, title, and interest in and to the following: (a) all copyrights, rights and interests in copyrights, works protectable by copyright, copyright registrations, and copyright applications; (b) all renewals of any of the
foregoing; (c) all income, royalties, damages, and payments now or hereafter due and/or payable under any of the foregoing, including, without limitation, damages or payments for past or future infringements for any of the foregoing;
(d) the right to sue for past, present, and future infringements of any of the foregoing; and (e) all rights corresponding to any of the foregoing throughout the world. 

“Discharge of Senior Secured Debt Obligations” has the meaning assigned to such term in the ABL/Bond Intercreditor Agreement.

 “Equity Interests” means shares of capital stock, partnership interests, membership interests in a limited liability
company, beneficial interests in a trust or other equity ownership interests in a Person. 
 “Excluded CFC” means any
Subsidiary that is a “controlled foreign corporation” within the meaning of Section 957 of the Code. 
 “Excluded
Equity Interests” shall mean (a) any of the outstanding voting Equity Interests or other voting ownership interests of any Excluded CFC or FSHCO in excess of 65% of all the Equity Interests or other voting ownership interests of such
Excluded CFC or FSHCO designated as having voting power, (b) any equity or other voting ownership interests in any Subsidiary that is not a first tier Subsidiary of the Issuer or a Guarantor, (c) any Equity Interests to the extent the
pledge thereof would be prohibited or limited by any applicable law, rule or regulation existing on the date hereof or on the date such Equity Interests are acquired by the Issuer or a Guarantor or on the date the issuer of such Equity Interests is
created, (d) the Equity Interests of a Subsidiary (other than a Wholly-Owned Subsidiary) the pledge of which would violate a contractual obligation to the owners of the other Equity Interests of such Subsidiary (other than any such owners that
are the Issuer or Affiliates of the Issuer) that is binding on or relating to such Equity Interests and (e) the Equity Interests of any Unrestricted Subsidiaries. 

“Federal Securities Laws” has the meaning assigned to such term in Section 4.03. 

“FSHCO” means any Subsidiary that is not a Foreign Subsidiary that owns no material assets other than the capital stock of
one or more Subsidiaries that are Excluded CFCs. 
 “Grantor Supplement” means an instrument substantially in the form of
Exhibit I hereto, or any other form reasonably satisfactory to the Notes Collateral Agent. 
 “Grantors” means
(a) the Issuer, (b) each other Subsidiary identified on Schedule I hereto and (c) each Subsidiary that becomes a party to this Agreement as a Grantor on or after the Issue Date. 

“Indebtedness” has the meaning assigned to such term in the Indenture. 

  
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 “Intellectual Property” shall mean, with respect to any Grantor, all
intellectual and similar property of every kind and nature now owned or hereafter acquired by such Grantor, including Patents, Copyrights, Trademarks and all related documentation and registrations and all additions, improvements or accessions to
any of the foregoing. 
 “Inventory” shall have the meaning set forth in Article 9 of the UCC and shall include,
without limitation, (a) all goods intended for sale or lease or for display or demonstration, (b) all work in process, and (c) all raw materials and other materials and supplies of every nature and description used or which might be
used in connection with the manufacture, packing, shipping, advertising, selling, leasing or furnishing of goods or services or otherwise used or consumed in the conduct of business. 

“Issuer” has the meaning assigned to such term in the preamble to this Agreement. 

“Lien” means any mortgage, pledge, security interest, encumbrance, lien, hypothecation or charge of any kind (including any
conditional sale or other title retention agreement or lease in the nature thereof); provided, that in no event shall an operating lease to be deemed to constitute a Lien. 

“Material Adverse Effect” shall mean a circumstance or condition affecting the business, financial condition, or results of
operations of the Issuer and its Subsidiaries, taken as a whole, that would reasonably be expected to have a materially adverse effect on (a) the ability of the Issuer and the Guarantors, taken as a whole, to perform their payment obligations
under the Note Documents or (b) the material rights and remedies of the Holders, the Trustee or the Notes Collateral Agent under any Note Document. 

“Material Subsidiary” has the meaning given to such term in the Term Loan Credit Agreement as in effect on the date hereof.

 “New York UCC” means the Uniform Commercial Code as from time to time in effect in the State of New York. 

“Note Document” means the Indenture, the Notes and the Collateral Documents. 

“Notes Collateral Agent” has the meaning assigned to such term in the preamble to this Agreement. 

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

“Patent Security Agreement” means the Patent Security Agreement substantially in the form of Exhibit III hereto. 

  
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 “Pledged Collateral” shall mean collectively, (a) all of the Equity
Interests of Restricted Subsidiaries that are Material Subsidiaries (other than Excluded Equity Interests) held by the Grantors, including such Equity Interests described in Schedule 6 in the Perfection Certificate issued by the entities
named therein and all other Equity Interests of Restricted Subsidiaries that are Material Subsidiaries (other than Excluded Equity Interests) acquired after the date hereof (the “After-acquired Shares”) (the “Pledged Equity
Securities”) and (b) each promissory note, Tangible Chattel Paper and Instrument evidencing Indebtedness in excess of $1,000,000 (individually) owed to any Grantor (other than such promissory notes, Tangible Chattel Paper and
Instruments that are Excluded Assets) described in Schedule 7 in the Perfection Certificate and issued by the entities named therein and all other Indebtedness in excess of $1,000,000 (individually) owed to any Grantor hereafter (the
“After-acquired Debt”) (the “Pledged Debt Securities”). 
 “Pledged Debt Securities” has
the meaning assigned to such term in clause (b) of the definition of Pledged Collateral. 
 “Pledged Equity Interests”
has the meaning assigned to such term in clause (a) of the definition of Pledged Collateral. 
 “Pledged Securities”
means any promissory notes, stock certificates, unit certificates, limited or unlimited liability membership certificates or other securities (to the extent certificated) now or hereafter included in the Pledged Collateral, including all
certificates, instruments or other documents representing or evidencing any Pledged Collateral. 
 “Secured Obligations”
means any principal, premium, interest, penalties, fees, indemnifications, damages and other liabilities (including any interest, fees and other amount which, but for the filing of a petition in bankruptcy with respect to any Grantor, would have
accrued on any Secured Obligation, whether or not such interest, fees or other amount is an allowed claim under applicable law) under any of the Indenture, the Notes and the Collateral Documents. 

“Security Interest” has the meaning assigned to such term in Section 3.01(a). 

“Stock Rights” shall mean all dividends, instruments or other distributions and any other right or property which any Grantor
shall receive or shall become entitled to receive for any reason whatsoever with respect to, in substitution for or in exchange for any Equity Interest constituting Collateral, any right to receive an Equity Interest constituting Collateral and any
right to receive earnings, in which such Grantor now has or hereafter acquires any right, issued by an issuer of such Equity Interest. 

“Term Loan Credit Agreement” means the Second Amended and Restated Term Loan Credit Agreement, dated as of February 23,
2017, among the Issuer, the Lenders party thereto from time to time and Deutsche Bank AG New York Branch, as term administrative agent and term collateral agent. 

“Trademark Security Agreement” means the Trademark Security Agreement substantially in the form of Exhibit IV hereto.

  
 5 

 “Trademarks” shall mean, with respect to any Grantor, all of such
Grantor’s right, title, and interest in and to the following: (a) all trademarks (including service marks), trade names, trade dress, and trade styles and the registrations and applications for registration thereof and the goodwill of the
business symbolized by the foregoing; (b) all renewals of the foregoing; (c) all income, royalties, damages, and payments now or hereafter due or payable with respect thereto, including, without limitation, damages, claims, and payments
for past and future infringements thereof; (d) all rights to sue for past, present, and future infringements of the foregoing, including the right to settle suits involving claims and demands for royalties owing; and (e) all rights
corresponding to any of the foregoing throughout the world. 
 “UCC” shall mean the New York UCC; provided, however, that,
at any time, if by reason of mandatory provisions of law, any or all of the perfection or priority of the Notes Collateral Agent’s and the Noteholder Secured Parties’ security interest in any item or portion of the Collateral is governed
by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, the term “UCC” shall mean the Uniform Commercial Code as in effect, at such time, in such other jurisdiction for purposes of the provisions
hereof relating to such perfection or priority and for purposes of definitions relating to such provisions. 
 “Vehicles”
shall mean all vehicles covered by a certificate to title law of any state and all tires and other appurtenances to any of the foregoing. 

ARTICLE II 
 Pledge of
Securities 
 SECTION 2.01. Pledge. As security for the payment or performance, as the case may be, in full of the Secured
Obligations, each Grantor hereby pledges, assigns and grants to the Notes Collateral Agent, on behalf of and for the benefit of the Noteholder Secured Parties, a security interest in all of its right, title and interest in, to and under all of the
Pledged Collateral. 
 Notwithstanding the foregoing or anything herein to the contrary, in no event shall the “Pledged
Collateral” include or the security interest attach to any Excluded Assets or Excluded Equity Interests. 
 SECTION 2.02. Delivery
of the Pledged Collateral. 
 (a) Subject to the Pari Passu Intercreditor Agreement and the ABL/Bond Intercreditor Agreement, each
Grantor will promptly deliver to the Notes Collateral Agent (or its non-fiduciary agent or designee) upon execution of this Agreement all certificates, now or hereafter acquired, if any, representing or
evidencing the Pledged Collateral to the extent such certificates constitute certificated securities (other than checks received in the ordinary course of business), together with duly executed instruments of transfer or assignments in blank. 

(b) Except as otherwise addressed in Section 3.03(b) herein, if any amount payable with respect to any Indebtedness owed to any Grantor
shall be or become evidenced by any promissory note (which may be a global note), such note or instrument shall be promptly delivered (but in any event within 45 days of receipt (other than any promissory note in an aggregate principal amount of
less than $1,000,000 owed to the applicable Grantor by any Person) by such Grantor or such longer period as the Notes Collateral Agent may agree in its reasonable discretion) to the Notes Collateral Agent, for the benefit of the Noteholder Secured
Parties, together with an undated instrument of transfer duly executed in blank and in a manner and form reasonably necessary to grant the Notes Collateral Agent control over such Collateral. 

  
 6 

 (c) Upon delivery to the Notes Collateral Agent, (i) any certificate or promissory note
representing Pledged Securities shall be accompanied by undated stock or note powers, as applicable, duly executed in blank and in a manner and form reasonably necessary to grant the Notes Collateral Agent control over such Collateral or other
undated instruments of transfer duly executed in blank and by such other instruments and documents as the Notes Collateral Agent may reasonably request and (ii) all other property comprising part of the Pledged Collateral shall be accompanied
by undated proper instruments of assignment duly executed in blank by the applicable Grantor and such other instruments and documents as the Notes Collateral Agent may reasonably request. Each delivery of Pledged Securities shall be accompanied by a
schedule describing such Pledged Securities, which schedule shall be deemed attached to, and shall supplement, Schedule II hereto and be made a part hereof; provided, that failure to provide any such schedule hereto shall not affect the
validity of such pledge of such Pledged Securities. Each schedule so delivered shall supplement any prior schedules so delivered. 
 SECTION
2.03. Representations, Warranties and Covenants. The Grantors jointly and severally represent, warrant and covenant to and with the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, that: 

(a) as of May 30, 2019, Schedule II hereto sets forth a true and complete list, with respect to each Grantor, of all the Pledged Equity
Interests owned by such Grantor in any Subsidiary and the percentage of the issued and outstanding units of each class of the Equity Interests of the issuer thereof represented by the Pledged Equity Interests owned by such Grantor and all the
Pledged Debt Securities owned by such Grantor; 
 (b) the Pledged Equity Interests and the Pledged Debt Securities have been duly and validly
authorized and issued by the issuers thereof and (i) in the case of Pledged Equity Interests, are fully paid and, in the case of corporate interests, nonassessable and (ii) in the case of Pledged Debt Securities, are legal, valid and
binding obligations of the issuers thereof, except to the extent that enforceability of such obligations may be limited by applicable bankruptcy, insolvency, and other similar laws affecting creditor’s rights generally; provided that the
foregoing representations, insofar as they relate to the Pledged Collateral issued by a Person other than the Issuer or any Subsidiary, are made to the knowledge of the Grantors; 

(c) except for the security interests granted hereunder and under any other Collateral Document, each of the Grantors (i) is and, subject
to any transfers made in compliance with the Indenture, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule II hereto as owned by such Grantor, (ii) holds the same free and clear of
all Liens, other than Liens permitted pursuant to Section 3.6 of the Indenture and transfers made in compliance with the Indenture, (iii) will make no further assignment, pledge, hypothecation or transfer of, or create or permit to exist
any security interest in or other Lien on, the Pledged Collateral, other than Liens permitted pursuant to Section 3.6 of the Indenture and transfers made in compliance with the Indenture, and (iv) will use commercially reasonable efforts
to defend its title or interest thereto or therein against any and all Liens (other than the Liens created by this Agreement and the other Collateral Documents and Liens permitted pursuant to Section 3.6 of the Indenture), however arising, of
all Persons whomsoever; 

  
 7 

 (d) except for restrictions and limitations imposed by or otherwise permitted by the Note
Documents (including any Liens permitted pursuant to Section 3.6 of the Indenture) or securities laws generally, the Pledged Equity Interests and, to the extent issued by the Issuer or any Subsidiary, the Pledged Debt Securities are and will
continue to be freely transferable and assignable, and none of the Pledged Equity Interests and, to the extent issued by the Issuer or any Subsidiary, none of the Pledged Debt Securities are or will be subject to any option, right of first refusal,
shareholders agreement or organizational document provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect in any manner adverse to the Noteholder Secured Parties in any material respect the pledge
of such Pledged Collateral hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Notes Collateral Agent of rights and remedies hereunder; 

(e) each of the Grantors has the power and authority to pledge the Pledged Collateral pledged by it hereunder in the manner hereby done or
contemplated; 
 (f) by virtue of the execution and delivery by the Grantors of this Agreement, when any Pledged Securities constituting
certificated securities are delivered to the Notes Collateral Agent in accordance with this Agreement, the Notes Collateral Agent will obtain a legal, valid and perfected lien upon and security interest in such Pledged Securities, free of any
adverse claims, under the New York UCC to the extent such lien and security interest may be created and perfected under the New York UCC, as security for the payment and performance of the Secured Obligations; and 

(g) subject to the terms of this Agreement and to the extent permitted by applicable law, each Grantor hereby agrees that upon the occurrence
and during the continuance of an Event of Default, it will comply with the instructions of the Notes Collateral Agent with respect to the Equity Interests in such Grantor that constitute Pledged Equity hereunder that are not certificated without
further consent by the applicable owner or holder of such Equity Interests. 
 SECTION 2.04. Registration in Nominee Name;
Denominations. If an Event of Default shall have occurred and is continuing and the Notes Collateral Agent shall have notified the Grantors in writing of its intent to exercise such rights, the Notes Collateral Agent, on behalf of the Noteholder
Secured Parties, shall have the right (but not the obligation) (in its sole and absolute discretion) to hold the Pledged Securities in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Notes Collateral Agent or in
its own name as pledgee or in the name of its nominee (as pledgee or as sub-agent), and each Grantor will promptly give to the Notes Collateral Agent copies of any notices or other communications received by
it with respect to Pledged Securities registered in the name of such Grantor. Upon the occurrence and during the continuance of an Event of Default, the Notes Collateral Agent shall at all times have the right (but not the obligation) to exchange
the certificates representing Pledged Securities for certificates of smaller or larger denominations for any reasonable purpose consistent with this Agreement. 

  
 8 

 SECTION 2.05. Voting Rights; Dividends and Interest. (a) Unless and until an
Event of Default shall have occurred and is continuing and the Notes Collateral Agent shall have notified the Grantors in writing that their rights under this Section 2.05 are being suspended: 

(i) each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Securities or any part thereof ; 
 (ii) the Notes Collateral Agent shall promptly execute and deliver to each
Grantor, or cause to be promptly executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or
consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section; and 
 (iii) each
Grantor shall be entitled to receive and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Securities to the extent and only to the extent that such dividends, interest,
principal and other distributions are permitted by, and are otherwise paid or distributed in accordance with, the terms and conditions of the Indenture, the other Note Documents and applicable laws; provided that any noncash dividends,
interest, principal or other distributions that would constitute Pledged Equity Interests or Pledged Debt Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests in the issuer of any
Pledged Securities or received in exchange for Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise,
shall be and become part of the Pledged Collateral and, if received by any Grantor, shall be forthwith delivered to the Notes Collateral Agent in the same form as so received (with any necessary endorsements, stock or note powers and other
instruments of transfer), in each case, to the extent required pursuant to Section 2.02 or Section 2.06. So long as no Event of Default has occurred and is continuing, the Notes Collateral Agent shall promptly deliver to each Grantor any
Pledged Securities in its possession if requested to be delivered to the issuer thereof in connection with any exchange or redemption of such Pledged Securities permitted by the Indenture in accordance with this Section 2.05(a)(iii), subject to
receipt by the Notes Collateral Agent of an Officer’s Certificate of the Issuer with respect thereto and other documents reasonably requested by the Notes Collateral Agent. 

(b) Upon the occurrence and during the continuance of an Event of Default, after the Notes Collateral Agent shall have notified the Grantors,
as applicable, of the suspension of their rights under paragraph (a)(iii) of this Section 2.05, all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant to
paragraph (a)(iii) of this Section 2.05 shall cease, and all such rights shall thereupon become vested in the Notes Collateral Agent, which shall have the sole and exclusive right and authority (but not the obligation) to receive and
retain such dividends, interest, principal or other distributions; provided that, to the extent directed by the requisite Holders as determined in accordance with the Indenture, the Notes Collateral Agent shall have the right from time to
time following the occurrence and during the continuance of an Event of Default to permit the Grantors to exercise such rights. All dividends, interest, principal or other distributions received by any Grantor contrary to

  
 9 

 
the provisions of this Section 2.05 shall be held for the benefit of the Notes Collateral Agent and the other Noteholder Secured Parties and shall be forthwith delivered to the Notes
Collateral Agent upon demand in the same form as so received (with any necessary endorsements, stock or note powers and other instruments of transfer). Any and all money and other property paid over to or received by the Notes Collateral Agent
pursuant to the provisions of this paragraph (b) shall be retained by the Notes Collateral Agent in an account to be established by the Notes Collateral Agent upon receipt of such money or other property and, to the extent so received, shall,
subject to any applicable Intercreditor Agreement, be applied in accordance with the provisions of Section 4.02. After all Events of Default have been cured or waived and the Issuer has delivered to the Notes Collateral Agent an Officer’s
Certificate of the Issuer to that effect, the Notes Collateral Agent shall promptly repay to each Grantor (without interest) all dividends, interest, principal or other distributions that such Grantor would otherwise be permitted to retain pursuant
to the terms of paragraph (a)(iii) of this Section 2.05 and that remain in such account. 
 (c) Upon the occurrence and during the
continuance of an Event of Default, after the Notes Collateral Agent shall have notified the Grantors of the suspension of their rights under paragraph (a)(i) of this Section 2.05, all rights of any Grantor to exercise the voting and consensual
rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 2.05, and the obligations of the Notes Collateral Agent under paragraph (a)(ii) of this Section 2.05, shall cease, and all such rights
shall thereupon become vested in the Notes Collateral Agent, which shall have the sole and exclusive right and authority (but not the obligation) to exercise such voting and consensual rights and powers; provided that, unless otherwise
directed by the requisite Holders as determined in accordance with the Indenture, the Notes Collateral Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such
rights. After all Events of Default have been cured or waived and the Issuer has delivered to the Notes Collateral Agent an Officer’s Certificate of the Issuer to that effect, all rights vested in the Notes Collateral Agent pursuant to this
paragraph (c) shall cease, and the Grantors shall have the exclusive right to exercise the voting and consensual rights and powers they would otherwise be entitled to exercise pursuant to paragraph (a)(i) of this Section 2.05. 

(d) Any notice given by the Notes Collateral Agent to the Grantors, suspending their rights under paragraph (a) of this Section 2.05
(i) may be given by telephone if promptly confirmed in writing, (ii) may be given with respect to one or more of the Grantors at the same or different times and (iii) may suspend the rights of the Grantors under paragraph (a)(i) or
paragraph (a)(iii) in part without suspending all such rights (as specified by the Notes Collateral Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Notes Collateral Agent’s rights to give additional
notices from time to time suspending other rights; provided that the Notes Collateral Agent shall only provide any such notice if an Event of Default has occurred and is continuing. 

SECTION 2.06. Article 8 Opt-In. No Grantor shall take any action to cause any membership
interest, partnership interest, or other equity interest of any limited liability company or limited partnership owned or controlled by any Grantor comprising Collateral to be or become a “security” within the meaning of, or to be governed
by Article 8 of the UCC as in effect under the laws of any state having jurisdiction and shall not cause or permit any such limited liability company or limited partnership to “opt in” or to take any other action seeking to establish any

  
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membership interest, partnership interest or other equity interest of such limited liability company or limited partnership comprising the Collateral as a “security” or to become a
certificated security, in each case, without delivering all certificates evidencing such interest to the Notes Collateral Agent in accordance with and as required by Section 2.02 or, in the case of any uncertificated security, without taking
such steps, to the extent requested by the collateral agent under the Term Loan Credit Agreement or the ABL Credit Agreement (following notice to the Notes Collateral Agent of any such change, which shall be promptly provided by such Grantor), to
provide the Notes Collateral Agent with control (as defined in Article 8-106 of the UCC) of any such security. 

ARTICLE III 
 Security
Interests in Personal Property 
 SECTION 3.01. Security Interest. (a) As security for the payment or performance, as the
case may be, in full of the Secured Obligations, each Grantor hereby pledges, assigns and grants to the Notes Collateral Agent, on behalf of and for the benefit of the Noteholder Secured Parties, a security interest (the “Security
Interest”) in all of its right, title and interest in, to and under all of the following property and other assets, whether now owned by or owing to, or hereafter acquired by or arising in favor of, such Grantor, and regardless of where located
(all of which are collectively referred to as the “Article 9 Collateral”): 
  

	 	(b)	 all Accounts; 

  

	 	(c)	 all Chattel Paper (including Electronic Chattel Paper and Tangible Chattel Paper); 

 

	 	(d)	 all Intellectual Property; 

 

	 	(e)	 all Documents; 

  

	 	(f)	 all Equipment; 

  

	 	(g)	 all Fixtures; 

  

	 	(h)	 all General Intangibles; 

 

	 	(i)	 all Goods; 

  

	 	(j)	 all Instruments; 

  

	 	(k)	 all Inventory; 

  

	 	(l)	 all Investment Property; 

 

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

  

	 	(n)	 all Deposit Accounts; 

 

	 	(o)	 all Vehicles; 

  
 11 

	 	(p)	 all Commercial Tort Claims as specified from time to time in Schedule IV hereto (as the same may be
updated from time to time in accordance with the terms hereof); 

  

	 	(q)	 all cash or other property deposited with the Notes Collateral Agent or any Noteholder Secured Party or any
Affiliate of the Notes Collateral Agent or any Noteholder Secured Party or which the Notes Collateral Agent, for its benefit and for the benefit of the other Noteholder Secured Parties, or any Noteholder Secured Party or such Affiliate is entitled
to retain or otherwise possess as collateral pursuant to the provisions of this Agreement or the Indenture; 

  

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

  

	 	(s)	 As-Extracted Collateral; and 

 

	 	(t)	 any and all accessions to, substitutions for and replacements, products and cash and non-cash proceeds (including Stock Rights) of the foregoing (including any claims to any items referred to in this definition and any claims against third parties for loss of, damage to or destruction of any or all
of the Collateral or for proceeds payable under or unearned premiums with respect to policies of insurance) in whatever form, including cash, negotiable instruments and other instruments for the payment of money, Chattel Paper, collateral agreements
and other documents. 

 Notwithstanding the foregoing or anything herein to the contrary, in no event shall the
“Article 9 Collateral” include or the Security Interest attach to any Excluded Assets. 
 (b) Each Grantor hereby irrevocably
authorizes the Notes Collateral Agent for the benefit of the Noteholder Secured Parties, at any time and from time to time to file, but the Notes Collateral Agent shall not be obligated to file, in any relevant U.S. jurisdiction any financing
statements, with respect to the Collateral or any part thereof and amendments thereto that (i) describe the collateral covered thereby in any manner that the Notes Collateral Agent reasonably determines is necessary or advisable to ensure the
perfection of the security interest in the Collateral granted under this Agreement, including indicating the Collateral as “all assets” of such Grantor or words of similar effect, and (ii) contain the information required by Article 9
of the UCC for the filing of any financing statement or amendment, including whether such Grantor is an organization, the type of organization and, if required, any organizational identification number issued to such Grantor. Each Grantor agrees to
provide such information to the Notes Collateral Agent promptly upon request. 
 The Notes Collateral Agent is further authorized (but not
obligated) to file with the United States Patent and Trademark Office or United States Copyright Office (or any successor office), such documents as may be reasonably necessary or advisable for the purpose of perfecting, confirming, continuing,
enforcing or protecting the Security Interest in Article 9 Collateral consisting of Patents, Trademarks or Copyrights granted by each Grantor and naming any Grantor or the Grantors as debtors and the Notes Collateral Agent as secured party. 

  
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 (c) The Security Interest and the security interest granted pursuant to Article II are
granted as security only and shall not subject the Notes Collateral Agent or any other Noteholder Secured Party to, or in any way alter or modify, any obligation or liability of any Grantor with respect to or arising out of the Collateral. 

SECTION 3.02. Representations and Warranties. The Grantors jointly and severally represent and warrant to the Notes Collateral Agent,
for the benefit of the Noteholder Secured Parties, that: 
 (a) each Grantor has good title or valid leasehold interests in the tangible
Article 9 Collateral material to its business with respect to which it has purported to grant a Security Interest hereunder, free and clear of any Liens, (i) except for Liens expressly permitted pursuant to Section 3.6 of the
Indenture and (ii) except for minor defects in title that do not interfere with its ability to conduct its business as currently conducted or as proposed to be conducted or to utilize such properties for their intended purposes, in each case to
the extent the failure to have such good title or valid leasehold interest could not reasonably be expected to have, individually or in the aggregate, a Material Adverse Effect, and has full power and authority to grant to the Notes Collateral
Agent, for the benefit of the Noteholder Secured Parties, the Security Interest in such tangible Article 9 Collateral pursuant hereto and to execute, deliver and perform its obligations in accordance with the terms of this Agreement, without
the consent or approval of any other Person other than any consent or approval that has been obtained and except to the extent that failure to obtain or make such consent or approval, as the case may be, individually or in aggregate, could not
reasonably be expected to have a Material Adverse Effect; 
 (b) the Perfection Certificate has been duly prepared, completed and executed
and the information set forth therein, including the exact legal name and jurisdiction of organization of each Grantor, is correct and complete in all material respects as of the Issue Date. The Uniform Commercial Code financing statements or other
appropriate filings, recordings or registrations prepared and delivered to the Notes Collateral Agent for filing in each governmental, municipal or other office specified in Schedule 4 to the Perfection Certificate (or specified by notice from
the Issuer to the Notes Collateral Agent after the Issue Date in the case of filings, recordings or registrations required by Section 13.1 of the Indenture), are all the filings, recordings and registrations that are necessary to establish a
legal, valid and perfected security interest in favor of the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, in respect of all Article 9 Collateral in which the Security Interest may be perfected by such filing,
recording or registration in the United States, and as of the date hereof, no further or subsequent filing, refiling, recording, rerecording, registration or reregistration (other than filings, if any, which shall be made in the United States Patent
and Trademark Office and the United States Copyright Office, as applicable, to record the Security Interest in Article 9 Collateral consisting of filed, registered or applied-for United States Patents,
Trademarks and Copyrights) is necessary, except as provided under applicable law with respect to the filing of continuation statements (other than such actions as are necessary to perfect the Security Interest with respect to any Article 9
Collateral consisting of registered or applied for Patents, Trademarks and Copyrights filed, acquired or developed by a Grantor 

  
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after the date hereof). The Grantors represent and warrant that, if applicable, a fully executed Patent Security Agreement, Trademark Security Agreement and Copyright Security Agreement, in each
case containing a list of the Article 9 Collateral consisting of United States registered Patents, United States registered Trademarks and United States registered Copyrights (and applications for any of the foregoing), as applicable, and executed
by each Grantor owning any such Article 9 Collateral, have been prepared, delivered to the Notes Collateral Agent and will be recorded with the United States Patent and Trademark Office or the United States Copyright Office as applicable to
establish a legal, valid and perfected security interest in favor of the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, in respect of all Article 9 Collateral consisting of registered and applied for Patents,
Trademarks and Copyrights in which a security interest may be filed, recorded or registered in the United States Patent and Trademark Office or the United States Copyright Office, as applicable. No further or subsequent filing, refiling, recording,
rerecording, registration or reregistration is necessary (other than such actions as are necessary to perfect the Security Interest with respect to any Article 9 Collateral consisting of registered and applied for Patents, Trademarks and
Copyrights acquired or developed by a Grantor after the date hereof); 
 (c) the Security Interest constitutes (i) a legal and valid
security interest in all the Article 9 Collateral securing the payment and performance of the Secured Obligations, (ii) subject to the filings described in paragraph (b) of this Section 3.02 (including payment of applicable fees
in connection therewith), a perfected security interest in all Article 9 Collateral in which a security interest may be perfected by filing, recording or registering a financing statement or analogous document in the applicable jurisdiction in
the United States pursuant to the Uniform Commercial Code and (iii) subject to the filings described in paragraph (b) of this Section 3.02, a perfected security interest in all Article 9 Collateral in which a security interest
may be perfected upon the receipt and recording of a Patent Security Agreement, a Trademark Security Agreement and a Copyright Security Agreement with the United States Patent and Trademark Office and the United States Copyright Office, as
applicable. The Security Interest is and shall be prior to any other Lien on any of the Article 9 Collateral, other than Liens permitted pursuant to Section 3.6 of the Indenture; 

(d) as of the Issue Date, Schedule III hereto sets forth a true and complete list, with respect to each Grantor, of (i) all of such
Grantor’s Patents and Trademarks applied for or issued or registered with the United States Patent and Trademark Office, including the name of the registered owner or applicant and the registration, application, or publication number, as
applicable, of each such Patent or Trademark and (ii) all of such Grantor’s Copyrights applied for or registered with the United States Copyright Office, including the name of the registered owner and the registration number of each such
Copyright; and 
 (e) none of the Grantors has filed or consented to (i) the filing of any financing statement or analogous
document, in each case with respect to a Lien, under the Uniform Commercial Code or any other applicable laws covering any Article 9 Collateral, or (ii) any assignment in which any Grantor assigns any Article 9 Collateral or any security
agreement or similar instrument covering any Article 9 Collateral with the United States Patent and Trademark Office or the United States Copyright Office, except, in each case, for Liens expressly permitted pursuant to Section 3.6 of the
Indenture. 

  
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 SECTION 3.03. Covenants. (a) Each Grantor shall, at its own expense, take any
and all commercially reasonable actions necessary to (i) defend title to the Article 9 Collateral (other than Intellectual Property, which is governed by Section 3.05) against all Persons, except with respect to Article 9 Collateral
that such Grantor determines in its reasonable business judgment is no longer necessary or beneficial to the conduct of such Grantor’s business, and (ii) defend the Security Interest of the Notes Collateral Agent in the Article 9
Collateral and the priority thereof against any Lien, in each case subject to (x) Liens permitted pursuant to Section 3.6 of the Indenture, (y) transfers made in compliance with the Indenture and (z) the rights of such Grantor
under Section 13.3 of the Indenture and corresponding provisions of the Collateral Documents to obtain a release of the Liens created under the Collateral Documents. 

(b) Each Grantor agrees, at its own expense, to execute, acknowledge, deliver and cause to be duly filed all such further instruments and
documents and take all such actions as may be necessary or as the Notes Collateral Agent may from time to time reasonably request, to obtain, preserve, protect and perfect the Security Interest and the rights and remedies created hereby, including
the payment of any reasonable and documented or invoiced out-of-pocket fees and Taxes required in connection with the execution and delivery of this Agreement, the
granting of the Security Interest and the filing of any financing statements, continuation statements or other documents or instruments in connection herewith or therewith. If any amount payable to any Grantor under or in connection with any of the
Article 9 Collateral shall be or become evidenced by any promissory note (which may be a global note) or other instrument (other than any promissory note or other instrument in an aggregate principal amount of less than $1,000,000 owed to the
applicable Grantor by any Person), such note or instrument shall be promptly delivered (but in any event within 45 days of receipt by such Grantor or such longer period as the Notes Collateral Agent may agree in its reasonable discretion) to the
Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, together with an undated instrument of transfer duly executed in blank in a manner and form reasonably necessary to grant the Notes Collateral Agent control over such
Collateral. 
 (c) At its option, the Notes Collateral Agent may, with three (3) Business Day’s prior written notice to the Issuer,
discharge past due taxes, assessments, charges, fees, Liens, security interests or other encumbrances at any time levied or placed on the tangible Article 9 Collateral and not permitted pursuant to Section 3.6 of the Indenture, and may pay
for the maintenance and preservation of the tangible Article 9 Collateral to the extent any Grantor fails to do so as required by the Indenture, this Agreement or any other Note Document and within a reasonable period of time after the Notes
Collateral Agent has reasonably requested that it do so; provided that nothing in this paragraph shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Notes Collateral Agent or any Noteholder
Secured Party to cure or perform, any covenants or other promises of any Grantor with respect to taxes, assessments, charges, fees, Liens, security interests or other encumbrances and maintenance as set forth herein or in the other Note Documents.

 (d) The exercise by the Notes Collateral Agent of any of its rights hereunder shall not release any Grantor from any of its duties or
obligations under each contract, agreement or instrument relating to the Article 9 Collateral unless the Notes Collateral Agent has expressly in writing assumed such duties and obligations and each Grantor jointly and severally agrees to indemnify
and hold harmless the Notes Collateral Agent and the other Noteholder Secured Parties from and against any and all liability for such performance. 

  
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 (e) Notwithstanding anything herein to the contrary, it is understood that no Grantor shall
be required by this Agreement to better assure, preserve, protect or perfect the Security Interest created hereunder by any means other than (i) filings of financing statements and continuation statements pursuant to the Uniform Commercial
Code, (ii) filings with the United States Patent and Trademark Office or United States Copyright Office (or any successor office), in respect of registered or applied for Intellectual Property, (iii) in the case of Collateral that
constitutes Pledged Securities, Instruments, Tangible Chattel Paper or Negotiable Documents (other than those Negotiable Documents held in the ordinary course of business), delivery thereof to the Notes Collateral Agent in accordance with the terms
hereof (together with, where applicable, undated stock or note powers or other undated proper instruments of assignment) and (iv) other actions to the extent required by Section 3.04 hereunder. No Grantor shall be required to
(i) complete any filings or other action with respect to the better assurance, preservation, protection or perfection of the security interests created hereby in any jurisdiction outside of the United States or (ii) deliver control
agreements with respect to, or confer perfection by “control” over, any Deposit Accounts, Securities Accounts or Commodity Accounts. 

(f) Each Grantor agrees promptly (and, in any event, in sufficient time to enable all filings to be made within any applicable statutory
period, under the Uniform Commercial Code, that are required in order for the Notes Collateral Agent to continue at all times following such change to have a valid, legal and perfected security interest in all the Collateral, for the benefit of the
Secured Parties) to (A) notify the Notes Collateral Agent in writing of any change (i) in legal name of any Grantor, (ii) in the identity or type of organization or corporate structure of any Grantor, or (iii) in the jurisdiction
of organization or incorporation of any Grantor and (B) make all filings within any applicable statutory period, under the Uniform Commercial Code or otherwise, that are required in order for the Collateral Agent to continue at all times
following such change to have a valid, legal and perfected security interest in all the Collateral, for the benefit of the Secured Parties. 

SECTION 3.04. Other Actions. In order to further insure the attachment, perfection and priority of, and the ability of the Notes
Collateral Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 

(a) Instruments. If any Grantor shall at any time hold or acquire any Instruments constituting Collateral, such Grantor shall promptly
(but in any event within 45 days of receipt by such Grantor or such longer period as the Notes Collateral Agent may agree in its reasonable discretion) endorse, assign and deliver the same to the Notes Collateral Agent, accompanied by such undated
instruments of transfer or assignment duly executed in blank in a manner and form reasonably necessary to grant the Notes Collateral Agent control over such Collateral. 

(b) Investment Property. Except to the extent otherwise provided in Article II, if any Grantor shall at any time hold or acquire
any certificated securities constituting Collateral, such Grantor shall forthwith endorse, assign and deliver the same to the Notes Collateral Agent, accompanied by such undated instruments of transfer or assignment duly executed in blank in a
manner and form reasonably necessary to grant the Notes Collateral Agent control over such Collateral. 

  
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 (c) [Reserved]. 

(d) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a Commercial Tort Claim (in respect of which a complaint or
counterclaim has been filed by or on behalf of such Grantor) seeking damages in an amount reasonably estimated to exceed $1,000,000, such Grantor shall promptly notify the Notes Collateral Agent thereof in a writing signed by such Grantor, including
a summary description of such claim, and Schedule IV hereto shall be deemed to be supplemented to include such description of such Commercial Tort Claim as set forth in such writing. 

(e) [Reserved]. 
 SECTION
3.05. Covenants Regarding Patent, Trademark and Copyright Collateral. (a) Except to the extent a failure to act could not reasonably be expected to have a Material Adverse Effect, with respect to registration or pending application of each
item of its Intellectual Property for which such Grantor has standing and ability to do so, each Grantor agrees to take commercially reasonable efforts to (i) take all steps to maintain the validity and enforceability of any United States
registered Intellectual Property (or applications therefor) and to maintain such registrations and applications of Intellectual Property in full force and effect and (ii) pursue the registration and maintenance of each Patent, Trademark or
Copyright registration or application that is material to the conduct of such Grantor’s business. Grantor shall take commercially reasonable steps to defend title to and ownership of its Intellectual Property that is material to the conduct of
such Grantor’s business. Notwithstanding the foregoing, nothing in this Section 3.05 shall prevent any Grantor from disposing of, discontinuing the use or maintenance of, abandoning, failing to pursue or enforce or otherwise allowing to
lapse, terminate, be invalidated or put into the public domain any of its registered or applied for Intellectual Property that is no longer used or useful, or economically practicable to maintain, or if such Grantor determines in its reasonable
business judgment that such discontinuance is desirable in the conduct of its business. 
 (b) Each Grantor agrees that, should it obtain an
ownership or other interest in any Intellectual Property after the Issue Date (i) the provisions of this Agreement shall automatically apply thereto and (ii) any such Intellectual Property shall automatically become Intellectual Property
subject to the terms and conditions of this Agreement, except, with respect to each of (i) and (ii) above, if such Intellectual Property is obtained under a license from a third party under which a security interest would not be permitted. For
the avoidance of doubt, a security interest shall not be granted in any Intellectual Property that constitutes an Excluded Asset. 
 (c) Each
Grantor, either itself or through any agent, employee, licensee or designee, shall (i) whenever a certificate is delivered or required to be delivered pursuant to Section 3.16 of the Indenture, deliver to the Notes Collateral Agent a
schedule setting forth all of such Grantor’s registered and applied for Patents, Trademarks and Copyrights that are not listed on Schedule III hereto or on a schedule previously provided to the Notes Collateral Agent pursuant to this
Section 3.05(c), and (ii) within a reasonable time, execute, deliver and file with the United 

  
 17 

 
States Patent and Trademark Office or the United States Copyright Office, a Patent Security Agreement, Trademark Security Agreement or Copyright Security Agreement, as applicable, in respect of
such Patents, Trademarks and Copyrights, and any and all other agreements, instruments, documents and papers to evidence and perfect the Security Interest in such registered or applied for Patents, Trademarks or Copyrights. 

ARTICLE IV 
 Remedies 

SECTION 4.01. Remedies upon Default. Upon the occurrence and during the continuance of an Event of Default, each Grantor agrees to
deliver, on demand, each item of Collateral to the Notes Collateral Agent or any Person designated by the Notes Collateral Agent, and it is agreed that the Notes Collateral Agent shall have the right (but not the obligation) to take any of or all
the following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment, transfer and conveyance of any of or
all such Article 9 Collateral by the applicable Grantors to the Notes Collateral Agent, for the benefit of the Noteholder Secured Parties, or to license or sublicense, whether on an exclusive or nonexclusive basis, any such Article 9 Collateral
throughout the world on such terms and conditions and in such manner as the Notes Collateral Agent shall determine (other than in violation of any of the then existing licensing arrangements to the extent that waivers cannot be obtained) in
connection with exercise of its remedies hereunder, and (b) with or without legal process and with or without prior notice or demand for performance, to take possession of the Article 9 Collateral and the Pledged Collateral and occupy any
premises owned or, to the extent lawful and permitted, leased by any of the Grantors where the Collateral or any part thereof is assembled or located for a reasonable period in order to effectuate its rights and remedies hereunder or under the
Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Notes Collateral Agent shall have the right (but not the obligation), subject to the mandatory requirements of applicable
law and the notice requirements described below, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for future delivery
as the Notes Collateral Agent shall deem appropriate. The Notes Collateral Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the prospective bidders or purchasers to Persons who will represent
and agree that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or sale thereof, and upon consummation of any such sale the Notes Collateral Agent shall have the right to assign,
transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall hold the property sold absolutely free from any claim or right on the part of any Grantor, and each Grantor
hereby waives (to the extent permitted by law) all rights of redemption, stay and appraisal that such Grantor now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 

  
 18 

 The Notes Collateral Agent shall give the applicable Grantors no less than
10 days’ prior written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its equivalent in other jurisdictions) of the Notes
Collateral Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s board or on a securities exchange, shall state
the board or exchange at which such sale is to be made and the day on which the Collateral or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be held at such time or times within ordinary
business hours and at such place or places as the Notes Collateral Agent may fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in one lot as an entirety or in separate
parcels, as the Notes Collateral Agent may (in its sole and absolute discretion) determine. The Notes Collateral Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so, regardless of the fact that notice
of sale of such Collateral shall have been given. The Notes Collateral Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement at the time and place fixed for
sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the Collateral so sold may be retained
by the Notes Collateral Agent until the sale price is paid by the purchaser or purchasers thereof, but the Notes Collateral Agent and the other Noteholder Secured Parties shall not incur any liability in case any such purchaser or purchasers shall
fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. At any public (or, to the extent permitted by law, private) sale made pursuant to this Agreement, any Noteholder
Secured Party may bid for or purchase, free (to the extent permitted by law) from any right of redemption, stay, valuation or appraisal on the part of any Grantor (all said rights being also hereby waived and released to the extent permitted by
law), the Collateral or any part thereof offered for sale and may make payment on account thereof by using any claim then due and payable to such Noteholder Secured Party from any Grantor as a credit against the purchase price, and such Noteholder
Secured Party may, upon compliance with the terms of sale, hold, retain and dispose of such property without further accountability to any Grantor therefor. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof
shall be treated as a sale thereof; the Notes Collateral Agent shall be free to carry out such sale pursuant to such agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding
the fact that after the Notes Collateral Agent shall have entered into such an agreement all Events of Default shall have been remedied and the Secured Obligations paid in full. As an alternative to exercising the power of sale herein conferred upon
it, the Notes Collateral Agent may (but shall not be obligated to) proceed by a suit or suits at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts
having competent jurisdiction or pursuant to a proceeding by a court-appointed receiver. Any sale pursuant to the provisions of this Section 4.01 shall be deemed to conform to the commercial
reasonableness standards as provided in Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 

SECTION 4.02. Application of Proceeds. Subject to the terms of any applicable intercreditor agreement contemplated by the Indenture,
the Notes Collateral Agent shall apply the proceeds of any collection or sale of Collateral, including any Collateral consisting of cash, as follows: 

FIRST, to amounts owing to the Notes Collateral Agent in its capacity as such in accordance with the terms of the Indenture and
to amounts owing to the Trustee in its capacity as such in accordance with the terms of the Indenture; 

  
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 SECOND, to the Trustee for further distribution pursuant to the Indenture to
pay the Secured Obligations (the amounts so applied to be distributed among the Noteholder Secured Parties pro rata in accordance with the amounts of the Secured Obligations owed to them on the date of any such distribution); 

THIRD, to any agent of any other junior secured debt, in accordance with any applicable intercreditor agreement; and 

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

The Notes Collateral Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance
with this Agreement. Upon any sale of Collateral by the Notes Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Notes Collateral Agent or of the officer making the sale
shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid over to the Notes Collateral Agent or
such officer or be answerable in any way for the misapplication thereof. The Notes Collateral Agent shall have no liability to any of the Noteholder Secured Parties for actions taken in reliance on information supplied to it as to the amounts of
unpaid principal and interest and other amounts outstanding with respect to the Secured Obligations. 
 SECTION 4.03. Securities Act.
In view of the position of the Grantors in relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act of 1933, as now or hereafter in effect, or any similar statute
hereafter enacted analogous in purpose or effect (such act and any such similar statute as from time to time in effect being called the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted
hereunder. Each Grantor understands that compliance with the Federal Securities Laws might very strictly limit the course of conduct of the Notes Collateral Agent if the Notes Collateral Agent were to attempt to dispose of all or any part of the
Pledged Collateral, and might also limit the extent to which or the manner in which any subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Notes
Collateral Agent in any attempt to dispose of all or part of the Pledged Collateral under applicable blue sky or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions
and limitations the Notes Collateral Agent may, with respect to any sale of the Pledged Collateral, limit the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment and not
with a view to the distribution or resale thereof. Each Grantor acknowledges and agrees that in light of such restrictions and limitations, the Notes Collateral Agent, in its sole and absolute discretion, (a) may proceed to make such a sale
whether or not a registration statement for the purpose of registering such Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws to the extent the Notes Collateral Agent has determined that such a registration
is not required by any requirements of applicable law and (b) may approach and negotiate with a limited number of potential purchasers (including a single potential purchaser) to effect such sale. Each Grantor acknowledges and agrees that any
such sale might result in prices and other terms less favorable to the seller than if such sale were a public 

  
 20 

 
sale without such restrictions. In the event of any such sale, the Notes Collateral Agent and the other Noteholder Secured Parties shall incur no responsibility or liability for selling all or
any part of the Pledged Collateral at a price that the Notes Collateral Agent, in its sole and absolute discretion, may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might
have been realized if the sale were deferred until after registration as aforesaid or if more than a limited number of purchasers (or a single purchaser) were approached. The provisions of this Section 4.03 will apply notwithstanding the
existence of a public or private market upon which the quotations or sales prices may exceed substantially the price at which the Notes Collateral Agent sells. 

SECTION 4.04. Grant of License to Use Intellectual Property. Upon the occurrence and during the continuance of an Event of Default, for
the purpose of enabling the Notes Collateral Agent to exercise rights and remedies under this Agreement, each Grantor hereby grants to the Notes Collateral Agent an irrevocable (until terminated as provided below), nonexclusive license (exercisable
without payment of royalty or other compensation to the Grantors) to use or sublicense (to its contractors, agents or representatives, or otherwise exercising its remedies hereunder) any of the Collateral consisting of Intellectual Property now
owned or hereafter acquired by such Grantor, and wherever the same may be located, and including in such license reasonable access to all media in which any of the licensed items may be recorded or stored and to all computer software and programs
used for the compilation or printout thereof to the extent that such non-exclusive license (a) does not violate the express terms of any agreement between a Grantor and a third party governing such
Collateral consisting of Intellectual Property, or gives such third party any right of acceleration, modification, termination or cancellation therein and (b) is not prohibited by any requirements of applicable law; provided that such license
and sublicenses with respect to Trademarks shall be subject to the maintenance of quality standards with respect to the goods and services on which such Trademarks are used sufficient to preserve the validity of such Trademarks. The use of such
license by the Notes Collateral Agent may be exercised solely during the continuation of an Event of Default; provided that any license, sublicense or other transaction entered into by the Notes Collateral Agent in accordance with the provisions of
this Agreement shall be binding upon the Grantors, notwithstanding any subsequent cure of an Event of Default. For the avoidance of doubt, at the time of the release of the Liens on any Collateral as set forth in Section 5.13, the license
granted to the Notes Collateral Agent pursuant to this Section 4.04 with respect to such Collateral shall automatically and immediately terminate. 

ARTICLE V 
 Miscellaneous

 SECTION 5.01. Notices. All communications and notices hereunder shall (except as otherwise expressly permitted herein) be in
writing and given as provided in Section 12.1 of the Indenture. All communications and notices hereunder to any Grantor shall be given to it in care of the Issuer as provided in Section 12.1 of the Indenture. 

  
 21 

 SECTION 5.02. Waivers; Amendment. (a) No failure or delay by the Notes
Collateral Agent in exercising any right or power hereunder or under any other Note Document shall operate as a waiver thereof nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of any other right or power. The rights and remedies of the Notes Collateral Agent hereunder and under the other Note Documents are cumulative and are not
exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or consent to any departure by the Issuer or any Grantor therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section 5.02, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the issuance of Notes shall not be
construed as a waiver of any Default hereunder, regardless of whether the Notes Collateral Agent may have had notice or knowledge of such Default at the time. No notice or demand on the Issuer or any Grantor in any case shall entitle the Issuer or
any Grantor to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this Agreement nor any provision
hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Notes Collateral Agent and the Grantor or Grantors with respect to which such waiver, amendment or modification is to apply,
subject to any consent required in accordance with Section 12.12 of the Indenture. 
 SECTION 5.03. Notes Collateral
Agent’s Fees and Expenses; Indemnification. The provisions of Sections 7.7 and 12.9(a) of the Indenture are incorporated herein by reference, mutatis mutandis; provided that each reference therein to the
“Issuer” shall be deemed to be a reference to “each Grantor” and each reference therein to the “Trustee” shall be deemed to be a reference to the “Notes Collateral Agent”. 

SECTION 5.04. Successors and Assigns. Whenever in this Agreement any of the parties hereto is referred to, such reference shall be
deemed to include the permitted successors and assigns of such party, and all covenants, promises and agreements by or on behalf of any Grantor or the Notes Collateral Agent that are contained in this Agreement shall bind and inure to the benefit of
their respective successors and assigns. 
 SECTION 5.05. Survival of Agreement. All covenants, agreements, representations and
warranties made by the Issuer and the Grantors in this Agreement and in the certificates or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the Noteholder Secured Parties
and shall survive the issuance of the Notes and the execution and delivery of the Indenture and the Note Documents. 
 SECTION 5.06.
Counterparts; Effectiveness; Several Agreement. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall
constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement. This Agreement shall become
effective as to any Grantor when a counterpart hereof executed on behalf of such Grantor shall have been delivered to the Notes Collateral Agent and a counterpart hereof shall have been executed on behalf of the Notes Collateral Agent, and
thereafter shall be binding upon such Grantor and the Notes Collateral Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Grantor, the Notes Collateral Agent and the other Noteholder Secured Parties
and their respective successors and assigns, except that 

  
 22 

 
no Grantor shall have the right to assign or transfer its rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) except as expressly provided
in this Agreement and the Indenture. This Agreement shall be construed as a separate agreement with respect to each Grantor and may be amended, modified, supplemented, waived or released with respect to any Grantor without the approval of any other
Grantor and without affecting the obligations of any other Grantor hereunder. 
 SECTION 5.07. Severability. Any provision of this
Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of
the remaining provisions hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 

SECTION 5.08. [Reserved]. 

SECTION 5.09. Governing Law; Jurisdiction; Consent to Service of Process; Appointment of Service of Process Agent. (a) This
Agreement shall be construed in accordance with and governed by the laws of the State of New York. 
 (b) Each party hereto hereby
irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New
York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees
that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Notes Collateral Agent or any other Noteholder
Secured Party may otherwise have to bring any action or proceeding relating to this Agreement against any Grantor or its respective properties in the courts of any jurisdiction. 

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

(d) Each party to this Agreement irrevocably consents to service of process in the manner provided for notices in Section 5.01. Nothing in
any Note Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 
 (e) Each
Grantor hereby irrevocably designates, appoints and empowers the Issuer as its designee, appointee and agent to receive, accept and acknowledge for and on its behalf, and in respect of its property, service of any and all legal process, summons,
notices and documents that may be served in any such action or proceeding and the Issuer hereby accepts such designation and appointment. 

  
 23 

 SECTION 5.10. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.10. 

SECTION 5.11. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and shall not affect the construction of, or to be taken into consideration in interpreting, this Agreement. 

SECTION 5.12. Security Interest Absolute. All rights of the Notes Collateral Agent hereunder, the Security Interest, the grant of a
security interest in the Pledged Collateral and all obligations of each Grantor hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Indenture, any other Note Document, any agreement
with respect to any of the Secured Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time, manner or place of payment of, or in any other term of, all or any of the Secured Obligations, or
any other amendment or waiver of or any consent to any departure from the Indenture, any other Note Document or any other agreement or instrument, (c) any exchange, release or non-perfection of any Lien
on other collateral, or any release or amendment or waiver of or consent under or departure from any guarantee securing or guaranteeing all or any of the Secured Obligations or (d) any other circumstance that might otherwise constitute a
defense available to, or a discharge of, any Grantor in respect of the Secured Obligations or this Agreement. 
 SECTION 5.13.
Termination or Release. (a) This Agreement, the Security Interest and all other security interests granted hereby shall terminate automatically upon the Termination Date. 

(b) The Security Interest and all other security interests granted hereby shall also automatically terminate and be released at the time or
times and in the manner set forth in Section 13.3 of the Indenture. 
 (c) In connection with any termination or release pursuant to
paragraph (a) or (b) of this Section, the Notes Collateral Agent shall execute and deliver to the Issuer or any Grantor, at such party’s expense, all documents that such party shall reasonably request to evidence such termination or
release so long as the applicable party shall have provided the Notes Collateral Agent such certifications or documents as the Notes Collateral Agent shall reasonably request in order to demonstrate compliance with this Section 5.13. Any
execution and delivery of documents by the Notes Collateral Agent pursuant to this Section shall be without recourse to or warranty by the Notes Collateral Agent. 

  
 24 

 SECTION 5.14. Additional Subsidiaries. The Grantors shall cause (i) each
Subsidiary of the Issuer (other than any Excluded Subsidiary (as such term is defined in the Credit Agreement)) which, from time to time, on or after the date hereof shall be required to pledge any assets (other than any Excluded Asset) to the Notes
Collateral Agent for the benefit of the Noteholder Secured Parties pursuant to the Indenture and (ii) consistent with the Indenture, any Domestic Subsidiary, or to the extent reasonably acceptable to the Notes Collateral Agent, a Subsidiary
that is not a Wholly Owned Subsidiary (including any consolidated Affiliate in which its Subsidiaries own no Equity Interests), which the Issuer, at its option, elects to become a Grantor, to execute and deliver to the Notes Collateral Agent a
Grantor Supplement regarding such Subsidiary (as applicable), in each case, within the time period provided in the Indenture. Upon execution and delivery of such documents to the Notes Collateral Agent, any such Subsidiary shall become a Grantor
hereunder with the same force and effect as if originally named as such herein. The execution and delivery of any such instrument shall not require the consent of any other Grantor hereunder. The rights and obligations of each Grantor hereunder
shall remain in full force and effect notwithstanding the addition of any new Grantor as a party to this Agreement. 
 SECTION 5.15.
Notes Collateral Agent Appointed Attorney-in-Fact. Each Grantor hereby makes, constitutes and appoints the Notes Collateral Agent (and all officers, employees or
agents designated by the Notes Collateral Agent) the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any
action and executing any instrument that the Notes Collateral Agent may deem necessary or advisable to accomplish the purposes hereof at any time after and during the continuance of an Event of Default, which appointment is irrevocable (until
termination of this Agreement in accordance with Section 5.13) and coupled with an interest. Without limiting the generality of the foregoing, the Notes Collateral Agent shall have the right, but only upon the occurrence and during the
continuance of an Event of Default and written notice by the Notes Collateral Agent to the Issuer of its intent to exercise such rights, with full power of substitution either in the Notes Collateral Agent’s name or in the name of such Grantor
(a) to receive, indorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of, give
receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) upon prior written notice to the Issuer, to send
verifications of accounts receivable to any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the
Collateral or to enforce any rights in respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) upon prior written notice to the
Issuer, to notify, or to require any Grantor to notify, Account Debtors to make payment directly to the Notes Collateral Agent; (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of
the Collateral, and to do all other acts and things necessary to carry out the purposes of this Agreement, as fully and completely as though the Notes Collateral Agent were the absolute owner of the Collateral for all purposes, and (i) to make,
settle and adjust claims in respect of Article 9 Collateral under policies of insurance, indorsing the name of such Grantor on any check, draft, 

  
 25 

 
instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with respect thereto; provided that nothing herein
contained shall be construed as requiring or obligating the Notes Collateral Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Notes Collateral Agent, or to present or file any claim
or notice, or to take any action with respect to the Collateral or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Notes Collateral Agent and the other Noteholder Secured Parties shall be
accountable only for amounts actually received as a result of the exercise of the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act
hereunder, except for their own gross negligence or willful misconduct or that of any of their controlled Affiliates, directors, officers, employees, counsel, agents or
attorneys-in-fact. 
 SECTION 5.16. Pari Passu
Intercreditor Agreement and ABL/Bond Intercreditor Agreement Governs. Notwithstanding anything herein to the contrary, (i) the Liens and security interests granted to the Notes Collateral Agent for the benefit of the Noteholder Secured
Parties pursuant to this Agreement and (ii) the exercise of any right or remedy by the Notes Collateral Agent hereunder or the application of proceeds (including insurance proceeds and condemnation proceeds) of any Collateral, are subject to
the provisions of the ABL/Bond Intercreditor Agreement and the Pari Passu Intercreditor Agreement, as applicable. In the event of any conflict between the terms of the ABL/Bond Intercreditor Agreement, the terms of the Pari Passu Intercreditor
Agreement and the terms of this Agreement, the terms of the ABL/Bond Intercreditor Agreement and the Pari Passu Intercreditor Agreement shall govern, as applicable. 

SECTION 5.17. Delivery of Collateral. In accordance with the terms of the ABL/Bond Intercreditor Agreement and the Pari Passu
Intercreditor Agreement, all ABL Priority Collateral delivered to the ABL Representative shall be held by the ABL Representative as gratuitous bailee for the Noteholder Secured Parties solely for the purpose of perfecting the security interest
granted under this Agreement. Notwithstanding anything herein to the contrary, prior to the Discharge of Senior Secured Debt Obligations with respect to ABL First Lien Collateral (as defined in the ABL/Bond Intercreditor), to the extent any Grantor
is required hereunder to deliver ABL First Lien Collateral to the Notes Collateral Agent and is unable to do so as a result of having previously delivered such ABL First Lien Collateral to the ABL Representative in accordance with the terms of the
Collateral Documents, such Grantor’s obligations hereunder with respect to such delivery shall be deemed satisfied by the delivery to the ABL Representative, acting as gratuitous bailee of the Notes Collateral Agent. Terms used in this
Section 5.17 and not otherwise defined herein shall have the meanings given to such terms in the ABL/Bond Intercreditor Agreement. 

SECTION 5.18. No Liability. The Notes Collateral Agent shall not be responsible for or have a duty to ascertain or inquire into any
representation or warranty regarding the existence, value or collectability of the Collateral, the existence, priority or perfection of the Notes Collateral Agent’s Lien thereon, or any certificate prepared by the Issuer or any Grantor in
connection therewith, nor shall the Notes Collateral Agent be responsible or liable to the Noteholders or any other person for any failure to monitor or maintain any portion of the Collateral. Wilmington Trust, National Association is entering into
this Agreement solely in its capacity as Notes Collateral Agent under the Indenture and shall be entitled to all of the rights, privileges and immunities of the Notes Collateral Agent set forth in the Indenture as if such rights, privileges and
immunities were set forth herein. 
 [Remainder of Page Intentionally Left Blank] 

  
 26 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	 BUILDERS FIRSTSOURCE, INC.,
 as
Grantor

		
	By:	 	/s/ Peter Jackson
	Name:	 	Peter M. Jackson
	Title:	 	Senior Vice President and Chief Financial Officer
	
	GRANTORS
	
	BFS IP,LLC
	BFS Texas,LLC
	BFS,LLC
	Builders FirstSource - Atlantic Group, LLC
	Builders FirstSource - Colorado Group, LLC
	Builders FirstSource - Dallas, LLC
	Builders FirstSource - Florida Design Center, LLC
	Builders FirstSource - Florida, LLC
	Builders FirstSource - MB S, LLC
	Builders FirstSource -Northeast Group, LLC
	Builders FirstSource - Ohio Valley, LLG
	Builders FirstSource - Raleigh, LLC
	Builders FirstSource - Southeast Group, LLC
	Builders FirstSource - Texas GenPar, LLC
	Builders FirstSource Holdings, LLC
	Builders FirstSource-Colorado, LLC
	ProBuild Holdings LLC
	ProBuild Company LLC
	Pro-Build Real Estate Holdings, LLC
	Builder’s Capital, LLC
	ProBuild North Transportation LLC
	Timber Roots, LLC
	Spenard Builders Supply LLC
		
	By:	 	/s/ Donald F. McAleenan
	Name:	 	Donald F. McAleenan
	Title:	 	Senior Vice President, General Counsel and Secretary

 [Signature Page for Notes Collateral Agreement] 

 
			
	Builders FirstSource - Intellectual Property, L.P.
		
	By:	 	BFS IP, LLC
	Its:	 	General Partner
		
	By:	 	/s/ Donald F. McAleenan
	Name:	 	Donald F. McAleenan
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	Builders FirstSource - Texas Group, L.P.
		
	By:	 	Builders FirstSource - Texas GenPar, LLC
	Its:	 	General Paitner
		
	By:	 	/s/ Donald F. McAleenan
	Name:	 	Donald F. McAleenan
	Title:	 	Senior Vice President, General Counsel and Secretary
	
	Builders FirstSource - South Texas, L.P.
	Builders FirstSource - Texas Installed Sales, L.P.
		
	By:	 	BFS Texas, LLC .
	Its:	 	General Partner
		
	By:	 	/s/ Donald F. McAleenan
	Name:	 	Donald F. McAleenan
	Title:	 	Senior Vice President, General Counsel and Secretary

 [Signature Page for Notes Collateral Agreement] 

 
			
	WILMINGTON TRUST, NATIONAL
	ASSOCIATION, as Notes Collateral Agent
		
	By:	 	/s/ W. Thomas Morris, II
	Name:	 	W. Thomas Morris, II
	Title:	 	Vice President

 [Signature Page for Notes Collateral Agreement] 

 Schedule I to the 

Notes Collateral Agreement 

GRANTORS 
  

			
	1.	  	 Builders FirstSource Holdings, LLC, a Delaware limited liability company

		
	2.	  	 Builders FirstSource - Northeast Group, LLC, a Delaware limited liability company

		
	3.	  	 Builders FirstSource - Texas GenPar, LLC, a Delaware limited liability company

		
	4.	  	 Builders FirstSource - MBS, LLC, a Delaware limited liability company

		
	5.	  	 Builders FirstSource - Texas Group, L.P., a Texas limited partnership

		
	6.	  	 BFS Texas, LLC a Delaware limited liability company

		
	7.	  	 BFS IP, LLC a Delaware limited liability company

		
	8.	  	 Builders FirstSource - South Texas, L.P., a Texas limited partnership

		
	9.	  	 Builders FirstSource - Intellectual Property, L.P. , a Texas limited partnership

		
	10.	  	 Builders FirstSource - Texas Installed Sales, L.P. , a Texas limited partnership

		
	11.	  	 Builders FirstSource - Dallas, LLC, a Delaware limited liability company

		
	12.	  	 Builders FirstSource - Florida, LLC, a Delaware limited liability company

		
	13.	  	 Builders FirstSource - Florida Design Center, LLC, a Delaware limited liability
company

		
	14.	  	 Builders FirstSource - Ohio Valley, LLC, a Delaware limited liability company

		
	15.	  	 BFS, LLC, a Delaware limited liability company

		
	16.	  	 Builders FirstSource - Atlantic Group, LLC, a Delaware limited liability company

		
	17.	  	 Builders FirstSource - Southeast Group, LLC, a Delaware limited liability company

		
	18.	  	 Builders FirstSource - Raleigh, LLC, a Delaware limited liability company

		
	19.	  	 Builders FirstSource - Colorado Group, LLC, a Delaware limited liability company

		
	20.	  	 Builders FirstSource - Colorado, LLC, a Delaware limited liability company

		
	21.	  	 ProBuild Holdings LLC, a Delaware limited liability company

		
	22.	  	 ProBuild Company LLC, a Delaware limited liability company

		
	23.	  	 ProBuild North Transportation, LLC, a Washington limited liability company

		
	24.	  	 Timber Roots, LLC, a Washington limited liability company

		
	25.	  	 Spenard Builders Supply LLC, an Alaska limited liability company

		
	26.	  	 Pro-Build Real Estate Holdings, LLC, a Delaware limited
liability company

		
	27.	  	 Builder’s Capital, LLC, a New York limited liability company

 Schedule II to the 

Notes Collateral Agreement 
 PLEDGED
EQUITY INTERESTS 
  

															
	 Issuer
	  	 Record Owner
	  	Certificate
No.	  	No. Shares/
Interest	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	 Builders FirstSource - Northeast Group, LLC
	  	Builders FirstSource, Inc.	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Texas GenPar, LLC
	  	Builders FirstSource, Inc.	  	2	  	1,000	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - MBS, LLC
	  	Builders FirstSource, Inc.	  	2	  	1,000	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Texas Group, L.P.
	  	Builders FirstSource - Texas GenPar, LLC	  	5	  	100	  	 	1	% 	 	 	1	% 
		  	Builders FirstSource - MBS, LLC	  	6	  	9,900	  	 	99	% 	 	 	99	% 
	 BFS Texas, LLC
	  	Builders FirstSource - Texas Group, L.P.	  	1	  	1,000	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - South Texas, L.P.
	  	BFS Texas, LLC	  	3	  	100	  	 	1	% 	 	 	1	% 
		  	Builders FirstSource - Texas Group, L.P.	  	4	  	9,900	  	 	99	% 	 	 	99	% 
	 Builders FirstSource - Texas Installed Sales, L.P.
	  	BFS Texas, LLC	  	3	  	100	  	 	1	% 	 	 	1	% 
		  	Builders FirstSource - Texas Group, L.P.	  	4	  	9,900	  	 	99	% 	 	 	99	% 
	 BFS IP, LLC
	  	Builders FirstSource - Texas Group, L.P.	  	1	  	1,000	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Intellectual Property, L.P.
	  	BFS IP, LLC	  	3	  	100	  	 	1	% 	 	 	1	% 
		  	Builders FirstSource - Texas Group, L.P.	  	4	  	9,900	  	 	99	% 	 	 	99	% 

															
	 Issuer
	  	 Record Owner
	  	Certificate
No.	  	No. Shares/
Interest	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	 Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource
Holdings, Inc.)
	  	Builders FirstSource, Inc.	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Dallas, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Florida, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Florida Design Center, LLC
	  	Builders FirstSource - Florida, LLC	  	2	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Ohio Valley, LLC
	  	Builders FirstSource Holdings, Inc.	  	1	  	100	  	 	100	% 	 	 	100	% 
	 BFS, LLC
	  	Builders FirstSource - Ohio Valley, LLC	  	1	  	N/A	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Atlantic Group, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Southeast Group, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource - Raleigh, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 

  
 -2- 

															
	 Issuer
	  	 Record Owner
	  	Certificate
No.	  	No. Shares/
Interest	  	Percent
Owned of
Total
Outstanding	 	 	Percent
Pledged of
Total
Outstanding	 
	 Builders FirstSource - Colorado Group, LLC
	  	Builders FirstSource Holdings, LLC (f/k/a Builders FirstSource Holdings, Inc.)	  	1	  	100	  	 	100	% 	 	 	100	% 
	 Builders FirstSource-Colorado, LLC
	  	Builders FirstSource - Colorado Group, LLC	  	3	  	N/A	  	 	100	% 	 	 	100	% 
	 ProBuild Holdings LLC
	  	Builders FirstSource, Inc.	  	N/A	  	N/A	  	 	100	% 	 	 	100	% 
	 ProBuild Company LLC
	  	ProBuild Holdings LLC	  	1	  	100 membership
units	  	 	100	% 	 	 	100	% 
	 ProBuild North Transportation, LLC
	  	ProBuild Company LLC	  	N/A	  	N/A	  	 	100	% 	 	 	100	% 
	 Timber Roots, LLC
	  	ProBuild Company LLC	  	N/A	  	N/A	  	 	100	% 	 	 	100	% 
	 Spenard Builders Supply LLC
	  	ProBuild Holdings LLC	  	2	  	100 membership
units	  	 	100	% 	 	 	100	% 
	 Pro-Build Real Estate
Holdings, LLC
	  	ProBuild Holdings LLC	  	N/A	  	N/A	  	 	100	% 	 	 	100	% 
	 Builders Capital, LLC
	  	ProBuild Holdings LLC	  	N/A	  	N/A	  	 	100	% 	 	 	100	% 

  
 -3- 

 PLEDGED DEBT SECURITIES 

 

	1.	 That certain global intercompany note, dated as of July 31, 2015, among Builders FirstSource Holdings, LLC
(f/k/a Builders FirstSource Holdings, Inc.) Builders FirstSource - Northeast Group, LLC, Builders FirstSource - Texas GenPar, LLC, Builders FirstSource - MBS, LLC, BFS Texas, LLC, BFS IP, LLC, Builders FirstSource - Dallas, LLC, Builders FirstSource
- Florida, LLC, Builders FirstSource - Florida Design Center, LLC, Builders FirstSource - Ohio Valley, LLC, BFS, LLC, Builders FirstSource - Atlantic Group, LLC, Builders FirstSource - Southeast Group, LLC, Builders FirstSource - Raleigh, LLC,
Builders FirstSource - Colorado Group, LLC, Builders FirstSource-Colorado, LLC, ProBuild Holdings LLC, ProBuild Company LLC, ProBuild North Transportation, LLC, Timber Roots, LLC, Spenard Builders Supply LLC,
Pro-Build Real Estate Holdings, LLC, Builder’s Capital, LLC, Builders FirstSource - Texas Group, L.P., Builders FirstSource - South Texas, L.P., Builders FirstSource - Texas Installed Sales, L.P. and
Builders FirstSource - Intellectual Property, L.P., as the same may be amended, restated, supplemented or otherwise modified from time to time. 

  
 -4- 

 Schedule III to the 

Notes Collateral Agreement 

INTELLECTUAL PROPERTY 
 Trademarks:

  

							
	 TRADEMARK &

DESIGN
	  	 REG.

NUMBER
	  	 REG. DATE
	  	 OWNER

	

	  	2938424	  	05-APR-2005	  	BUILDERS FIRSTSOURCE – INTELLECTUAL PROPERTY, L.P.
				
	BUILDERS FIRSTSOURCE	  	2938423	  	05-APR-2005	  	BUILDERS FIRSTSOURCE – INTELLECTUAL PROPERTY, L.P.
				
	SYNBOARD	  	2885752	  	21-SEP-2004	  	BUILDERS FIRSTSOURCE – ATLANTIC GROUP, LLC
				
	DIXIELINE	  	1867321	  	13-DEC-1994	  	PROBUILD HOLDINGS LLC
				
	PROBUILD	  	4684231	  	10-FEB-2015	  	PROBUILD HOLDINGS LLC
				
	

	  	4684230	  	10-FEB-2015	  	PROBUILD HOLDINGS LLC
				
	

	  	4684232	  	10-FEB-2015	  	PROBUILD HOLDINGS LLC
				
	PROBUILD	  	4687694	  	17-FEB-2015	  	PROBUILD HOLDINGS, LLC
				
	

	  	4687695	  	17-FEB-2015	  	PROBUILD HOLDINGS LLC
				
	PROBUILD	  	4687696	  	17-FEB-2015	  	PROBUILD HOLDINGS LLC

  
 -5- 

							
	 TRADEMARK &

DESIGN
	  	 REG. NUMBER
	  	 REG. DATE
	  	 OWNER

	PRO-BUILD	  	3619743	  	12-MAY-2009	  	PROBUILD HOLDINGS LLC
				
	PRO-BUILD	  	3631873	  	02-JUN-2009	  	PROBUILD HOLDINGS LLC
				
	PRO-BUILD	  	3616471	  	05-MAY-2009	  	PROBUILD HOLDINGS LLC
				
	PRODIRECT	  	2186643	  	01-SEP-1998	  	PROBUILD HOLDINGS LLC
				
	PROLOCK	  	3756050	  	02-MAR-2010	  	PROBUILD HOLDINGS LLC
				
	PROMILLWORK	  	2134156	  	03-FEB-1998	  	PROBUILD HOLDINGS LLC
				
	ROYAL PASSAGE	  	4671840	  	13-JAN-2015	  	PROBUILD HOLDINGS LLC
				
	ROYAL PASSAGE	  	4671841	  	13-JAN-2015	  	PROBUILD HOLDINGS LLC
				
	

	  	1915663	  	29-AUG-1995	  	PROBUILD HOLDINGS LLC
				
	THE CONTRACTOR YARD	  	1895765	  	23-MAY-1995	  	PROBUILD HOLDINGS LLC

  
 -6- 

 United States Copyrights: 
  

							
	 Copyright Title
	  	 Registration Number
	  	 Registration Date
	  	 Owner

	#1218-PB Austin.	  	VAu000994532	  	2009-04-14	  	ProBuild Holdings LLC
				
	#1224-PB Manvel.	  	VAu000993029	  	2009-04-14	  	ProBuild Holdings LLC
				
	#1220-PB Bayport.	  	VAu000994523	  	2009-04-13	  	ProBuild Holdings LLC
				
	#1227-PB Jackson.	  	VAu000983075	  	2009-04-13	  	ProBuild Holdings LLC
				
	#1229-PB Branford.	  	VAu001050032	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1230-PB Roanoke.	  	VAu001050027	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1226-PB Charlevoix.	  	VAu000994530	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1222-PB Mitchell.	  	VAu000992968	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1231-PB Tacoma.	  	VAu000980190	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1228-PB Fremont.	  	VAu000980189	  	2009-01-28	  	ProBuild Holdings LLC
				
	#1216-PB Garland.	  	VAu000980114	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1217-PB Miramar.	  	VAu000980111	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1201-PB Bradenton .	  	VAu000980110	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1205-PB Charlotte.	  	VAu000980073	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1213-PB Pelham.	  	VAu000980068	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1203-PB Greenville.	  	VAu000980067	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1215-PB Colorado Springs.	  	VAu000980062	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1211-PB Sedona.	  	VAu000980056	  	2009-01-27	  	ProBuild Holdings LLC
				
	#1207-PB Cottonwood.	  	VAu000980050	  	2009-01-27	  	ProBuild Holdings LLC

  
 -7- 

							
	#1209-PB Knoxville.	  	VAu000980049	  	2009-01-27	  	ProBuild Holdings LLC
				
	Recreational Cabins Step-by-Step How-To-Build Video.	  	PAu003674877	  	2013-04-30	  	Spenard Builders Supply LLC1
				
	Spenard Builders Supply Package homes.	  	VA0000261692	  	1987-04-14	  	Spenard Builders Supply LLC2
				
	Financial Forecasting models for building material distribution	  	TXu001281014	  	2005	  	Probuild Company LLC3
				
	UBC Plan no. 02-501	  	VAu000573408	  	2002	  	Probuild Company LLC4
				
	Supplement to UBC plan no. 02-501	  	VAu000727450	  	2006	  	Probuild Company LLC5

  

	1 	 Current United States Copyright Office records reflect Spenard Builder Supply as owner. 

	2 	 Current United States Copyright Office records reflect Spenard Builders Supply, Inc. as owner.

	3 	 Current United States Copyright Office records reflect Home Lumber Company, Inc. as owner.

	4 	 Current United States Copyright Office records reflect United Building Centers as owner. 

	5 	 Current United States Copyright Office records reflect United Building Centers, LP. as owner.

  
 -8- 

 Schedule IV to the 

Notes Collateral Agreement 

COMMERCIAL TORT CLAIMS 
 None. 

 Exhibit I to the 

Notes Collateral Agreement 

SUPPLEMENT NO. [    ] dated as of [            ],
201[    ] (this “Grantor Supplement”) to the Notes Collateral Agreement dated as of May 30, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Notes Collateral
Agreement”) among BUILDERS FIRSTSOURCE, INC., a Delaware corporation (the “Issuer”), the other GRANTORS from time to time party hereto and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent (in such capacity,
the “Notes Collateral Agent”). 
 A. Reference is made to (a) the Indenture dated as of May 30, 2019 (as amended,
restated, supplemented or otherwise modified from time to time, the “Indenture”) among BUILDERS FIRSTSOURCE, INC., as Issuer, the other parties from time to time party hereto and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Trustee
and Notes Collateral Agent. 
 B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such
terms in the Notes Collateral Agreement. 
 C. Section 5.14 of the Notes Collateral Agreement provides that additional Persons may
become Grantors under the Notes Collateral Agreement by execution and delivery of an instrument in the form of this Grantor Supplement. The undersigned (the “New Grantor”) is executing this Grantor Supplement in accordance with the
requirements of the Indenture and the Notes Collateral Agreement to become a Grantor under the Notes Collateral Agreement. 
 Accordingly,
the Notes Collateral Agent and the New Grantor agree as follows: 
 SECTION 1. In accordance with Section 5.14 of the Notes Collateral
Agreement, the New Grantor by its signature below becomes a Grantor under the Notes Collateral Agreement with the same force and effect as if originally named therein as a Grantor, and the New Grantor hereby (a) agrees to all the terms and
provisions of the Notes Collateral Agreement applicable to it as a Grantor thereunder and (b) represents and warrants that the representations and warranties made by it as a Grantor thereunder are true and correct on and as of the date hereof.
In furtherance of the foregoing, the New Grantor, as security for the payment and performance in full of the Secured Obligations, does hereby create and grant to the Notes Collateral Agent, its successors and assigns, for the benefit of the
Noteholder Secured Parties, a security interest in and lien on all of the New Grantor’s right, title and interest in, to and under the Pledged Collateral and the Article 9 Collateral. Each reference to a “Grantor” in the Notes
Collateral Agreement shall be deemed to include the New Grantor. The Notes Collateral Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Grantor represents and warrants to the Notes Collateral Agent and the other Noteholder Secured Parties that this Grantor
Supplement has been duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms, except to the extent that enforceability of such obligations may be
limited by applicable bankruptcy, insolvency and other similar laws affecting creditors’ rights generally. 

 SECTION 3. This Grantor Supplement may be executed in counterparts (and by different parties
hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Grantor Supplement by facsimile or other electronic
transmission shall be effective as delivery of a manually signed counterpart of this Grantor Supplement. This Grantor Supplement shall become effective as to the New Grantor when a counterpart hereof executed on behalf of the New Grantor shall have
been delivered to the Notes Collateral Agent and a counterpart hereof shall have been executed on behalf of the Notes Collateral Agent, and thereafter shall be binding upon the New Grantor and the Notes Collateral Agent and their respective
permitted successors and assigns, and shall inure to the benefit of the New Grantor, the Notes Collateral Agent and the other Noteholder Secured Parties and their respective successors and assigns, except that the New Grantor shall not have the
right to assign or transfer its rights or obligations hereunder or any interest herein (and any such assignment or transfer shall be void) except as expressly provided in this Grantor Supplement, the Notes Collateral Agreement and the Indenture.

 SECTION 4. The New Grantor hereby represents and warrants that (a) set forth on Schedule I attached hereto is a schedule with
the true and correct legal name of the New Grantor, its jurisdiction of organization and the location of its chief executive office, (b) Schedule II sets forth a true and complete list, with respect to the New Grantor, of (i) all the
Equity Interests owned by the New Grantor in any Subsidiary and the percentage of the issued and outstanding units of each class of the Equity Interests of the issuer thereof represented by the Pledged Equity Interests (other than any Excluded
Equity Interest) owned by the New Grantor and (ii) all the Pledged Debt Securities (other than any Excluded Asset) owned by the New Grantor and (c) Schedule III attached hereto sets forth, as of the date hereof, (i) all of the
New Grantor’s Patents, including the name of the registered owner, type, registration or application number and the expiration date (if already registered) of each such Patent owned by the New Grantor, (ii) all of the New
Grantor’s Trademarks, including the name of the registered owner, the registration or application number of each such Trademark owned by the New Grantor and (iii) all of the New Grantor’s Copyrights, including the name of the
registered owner, title and, if applicable, the registration number of each such Copyright owned by the New Grantor, and (d) Schedule IV attached hereto sets forth, as of the date hereof, each Commercial Tort Claim (in respect of which a
complaint or counterclaim has been filed by or on behalf of such New Grantor) in an amount reasonably estimated to exceed $1,000,000. 

SECTION 5. Except as expressly supplemented hereby, the Notes Collateral Agreement shall remain in full force and effect. 

SECTION 6. This Grantor Supplement shall be construed in accordance with and governed by the laws of the State of New York. 

  
 -2- 

 SECTION 7. Any provision of this Grantor Supplement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the
invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION
8. All communications and notices hereunder shall be in writing and given as provided in Section 5.01 of the Notes Collateral Agreement. 

SECTION 9. The New Grantor agrees to reimburse the Notes Collateral Agent for its fees and expenses incurred hereunder and under the Notes
Collateral Agreement as provided in Section 7.7 of the Indenture; provided that each reference therein to the “Issuer” shall be deemed to be a reference to the “New Grantor.” 

SECTION 10. Wilmington Trust, National Association is entering into this Grantor Supplement solely in its capacity as Notes Collateral Agent
under the Indenture and shall be entitled to all of the rights, privileges and immunities of the Notes Collateral Agent set forth in the Indenture as if such rights, privileges and immunities were set forth herein. 

[Remainder of Page Intentionally Left Blank] 

  
 -3- 

 IN WITNESS WHEREOF, the New Grantor and the Notes Collateral Agent have duly executed this
Supplement to the Notes Collateral Agreement as of the day and year first above written. 
  

			
	[NAME OF NEW GRANTOR], as a Grantor
		
	By:	 	                                
                                        
	Name:	 	
	Title:	 	
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	                                
    
	Name:	 	
	Title:	 	

 [Grantor Supplement No. [•] to Notes Collateral Agreement] 

 Schedule I 

to Grantor Supplement No.      to the 

Notes Collateral Agreement 
 NEW
GRANTOR INFORMATION 
  

					
	 Legal Name
	  	 Jurisdiction of Organization
	  	 Chief Executive Office

 Schedule II 

to Grantor Supplement No.      to the 

Notes Collateral Agreement 
 PLEDGED
EQUITY INTERESTS 
  

									
	 Grantor
	  	 Issuer
	  	 Number of

Certificate
	  	 Number and

Class of

Equity Interests
	  	 Percentage

of Total Equity
Interests

PLEDGED DEBT SECURITIES 
  

									
	 Grantor
	  	 Issuer
	  	 Principal

Amount
	  	 Date of Issuance
	  	 Maturity Date

 Schedule III 

to Grantor Supplement No.      to the 

Notes Collateral Agreement 

INTELLECTUAL PROPERTY 

 Schedule IV 

to Grantor Supplement No.      to the 

Notes Collateral Agreement 

COMMERCIAL TORT CLAIMS 

 Exhibit II to the 

Notes Collateral Agreement 

COPYRIGHT SECURITY AGREEMENT, dated as of [    ], 20[    ] (this “Agreement”),
among [    ] (the “Grantor”) and WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent (in such capacity, the “Notes Collateral Agent”). 

Reference is made to the Notes Collateral Agreement dated of May 30, 2019 (as amended, restated, supplemented or otherwise modified from
time to time, the “Notes Collateral Agreement”) among the Issuer, the other Grantors from time to time party thereto and the Notes Collateral Agent, relating to issuance by the Issuer of $400,000,000 in aggregate principal amount of
the Issuer’s 6.750% Senior Secured Notes due 2027, to be issued pursuant to the Indenture dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Indenture”), among the Issuer, the
Guarantors party thereto from time to time (the “Guarantors”) and Wilmington Trust, National Association, as trustee and the Notes Collateral Agent. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Notes
Collateral Agreement. The rules of construction specified in Section 1.01(b) of the Notes Collateral Agreement also apply to this Agreement. 

SECTION 2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Secured
Obligations, the Grantor hereby grants to the Notes Collateral Agent, its successors and assigns, for the benefit of the Noteholder Secured Parties, a security interest (the “Security Interest”) in all of such Grantor’s right,
title and interest in, to and under the Copyrights listed on Schedule I attached hereto (collectively, the “Copyright Collateral”). This Agreement is not to be construed as an assignment of any copyright or copyright application.

 SECTION 3. Notes Collateral Agreement. The Grantor hereby acknowledges and affirms that the rights and remedies of the Notes
Collateral Agent with respect to the Copyright Collateral are more fully set forth in the Notes Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any
conflict between the terms of this Agreement and the Notes Collateral Agreement, the terms of the Notes Collateral Agreement shall govern. 

SECTION 4. Termination. Subject to Section 5.13 of the Notes Collateral Agreement, upon the Termination Date, the security
interest granted herein shall terminate and the Notes Collateral Agent shall execute, acknowledge, and deliver to the Grantors all instruments in writing in recordable form to evidence and release the collateral pledge, grant, assignment, lien and
security interest in the Copyright Collateral under this Agreement. 

 SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other
electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing
Law. This Agreement shall be construed in accordance with and governed by the laws of the State of New York. 
 SECTION 7. Notes
Collateral Agent. Wilmington Trust, National Association is entering into this Agreement solely in its capacity as Notes Collateral Agent under the Indenture and shall be entitled to all of the rights, privileges and immunities of the Notes
Collateral Agent set forth in the Indenture as if such rights, privileges and immunities were set forth herein. 
 [Remainder of Page
Intentionally Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	[    ], as Grantor
		
	By	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Copyright Security Agreement] 

 Schedule I 

 Exhibit III to the 

Notes Collateral Agreement 
 PATENT
SECURITY AGREEMENT, dated as of [    ], 20[    ] (this “Agreement”), among [    ] (the “Grantor”) and Wilmington Trust, National Association, as Notes
Collateral Agent (in such capacity, the “Notes Collateral Agent”). 
 Reference is made to the Notes Collateral Agreement
dated of May 30, 2019 (as amended, restated, supplemented or otherwise modified from time to time, the “Notes Collateral Agreement”) among the Issuer, the other Grantors from time to time party thereto and the Notes Collateral
Agent, relating to issuance by the Issuer of $400,000,000 in aggregate principal amount of the Issuer’s 6.750% Senior Secured Notes due 2027, to be issued pursuant to the Indenture dated as of the date hereof (as amended, supplemented or
otherwise modified from time to time, the “Indenture”), among the Issuer, the Guarantors party thereto from time to time (the “Guarantors”) and Wilmington Trust, National Association, as trustee and the Notes
Collateral Agent. Accordingly, the parties hereto agree as follows: 
 SECTION 1. Terms. Capitalized terms used in this Agreement and
not otherwise defined herein have the meanings specified in the Notes Collateral Agreement. The rules of construction specified in Section 1.01(b) of the Notes Collateral Agreement also apply to this Agreement. 

SECTION 2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Secured
Obligations, the Grantor hereby grants to the Notes Collateral Agent, its successors and assigns, for the benefit of the Noteholder Secured Parties, a security interest (the “Security Interest”) in all of such Grantor’s right,
title and interest in, to the Patents listed on Schedule I attached hereto (the “Patent Collateral”). This Agreement is not to be construed as an assignment of any patent or patent application. 

SECTION 3. Notes Collateral Agreement. The Grantor hereby acknowledges and affirms that the rights and remedies of the Notes Collateral
Agent with respect to the Patent Collateral are more fully set forth in the Notes Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any conflict between
the terms of this Agreement and the Notes Collateral Agreement, the terms of the Notes Collateral Agreement shall govern. 
 SECTION 4.
Termination. Subject to Section 5.13 of the Notes Collateral Agreement, upon the Termination Date, the security interest granted herein shall terminate and the Notes Collateral Agent shall execute, acknowledge, and deliver to the
Grantors all instruments in writing in recordable form to evidence and release the collateral pledge, grant, assignment, lien and security interest in the Patent Collateral under this Agreement. 

 SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other
electronic transmission shall be effective as delivery of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing
Law. This Agreement shall be construed in accordance with and governed by the laws of the State of New York. 
 SECTION 7. Notes
Collateral Agent. Wilmington Trust, National Association is entering into this Agreement solely in its capacity as Notes Collateral Agent under the Indenture and shall be entitled to all of the rights, privileges and immunities of the Notes
Collateral Agent set forth in the Indenture as if such rights, privileges and immunities were set forth herein 
 [Remainder of Page
Intentionally Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	[    ], as Grantor
		
	By	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Patent Security Agreement] 

 Schedule I 

 Exhibit IV to the 

Notes Collateral Agreement 

TRADEMARK SECURITY AGREEMENT, dated as of [    ], 20[    ] (this “Agreement”),
among [    ] (the “Grantor”) and Wilmington Trust, National Association, as Notes Collateral Agent (in such capacity, the “Notes Collateral Agent”). 

Reference is made to the Notes Collateral Agreement dated of May 30, 2019 (as amended, restated, supplemented or otherwise modified from
time to time, the “Notes Collateral Agreement”) among the Issuer, the other Grantors from time to time party thereto and the Notes Collateral Agent, relating to issuance by the Issuer of $400,000,000 in aggregate principal amount of
the Issuer’s 6.750% Senior Secured Notes due 2027, to be issued pursuant to the Indenture dated as of the date hereof (as amended, supplemented or otherwise modified from time to time, the “Indenture”), among the Issuer, the
Guarantors party thereto from time to time (the “Guarantors”) and Wilmington Trust, National Association, as trustee and the Notes Collateral Agent. Accordingly, the parties hereto agree as follows: 

SECTION 1.Terms. Capitalized terms used in this Agreement and not otherwise defined herein have the meanings specified in the Notes
Collateral Agreement. The rules of construction specified in Section 1.01(b) of the Notes Collateral Agreement also apply to this Agreement. 

SECTION 2.Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Secured
Obligations, the Grantor hereby grants to the Notes Collateral Agent, its successors and assigns, for the benefit of the Noteholder Secured Parties, a security interest (the “Security Interest”) in all of such Grantor’s right,
title and interest in, to and under the Trademarks listed on Schedule I attached hereto (the “Trademark Collateral”). This Agreement is not to be construed as an assignment of any trademark or trademark application. Notwithstanding
anything herein to the contrary, the Trademark Collateral shall not include, and in no event shall the Security Interest attach to, any intent-to-use trademark
applications filed in the United States Patent and Trademark Office, pursuant to Section 1(b) of the Lanham Act, 15 U.S.C. Section 1051, prior to the accepted filing of a “Statement of Use” and issuance of a “Certificate of
Registration” pursuant to Section 1(d) of the Lanham Act or an accepted filing of an “Amendment to Allege Use” whereby such intent-to-use trademark
application is converted to a “use in commerce” application pursuant to Section 1(c) of the Lanham Act. 
 SECTION 3.
Termination. Subject to Section 5.13 of the Notes Collateral Agreement, upon the Termination Date, the security interest granted herein shall terminate and the Notes Collateral Agent shall execute, acknowledge, and deliver to the
Grantors all instruments in writing in recordable form to evidence and release the collateral pledge, grant, assignment, lien and security interest in the Trademark Collateral under this Agreement. 

 SECTION 4. Notes Collateral Agreement. The Grantor hereby acknowledges and affirms
that the rights and remedies of the Notes Collateral Agent with respect to the Trademark Collateral are more fully set forth in the Notes Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully
set forth herein. In the event of any conflict between the terms of this Agreement and the Notes Collateral Agreement, the terms of the Notes Collateral Agreement shall govern. 

SECTION 5. Counterparts. This Agreement may be executed in counterparts (and by different parties hereto on different counterparts),
each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed signature page to this Agreement by facsimile or other electronic transmission shall be effective as delivery
of a manually signed counterpart of this Agreement. 
 SECTION 6. Governing Law. This Agreement shall be construed in accordance with
and governed by the laws of the State of New York. 
 SECTION 7. Notes Collateral Agent. Wilmington Trust, National Association is
entering into this Agreement solely in its capacity as Notes Collateral Agent under the Indenture and shall be entitled to all of the rights, privileges and immunities of the Notes Collateral Agent set forth in the Indenture as if such rights,
privileges and immunities were set forth herein 
 [Remainder of Page Intentionally Left Blank] 

  
 -2- 

 IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and
year first above written. 
  

			
	[    ], as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	WILMINGTON TRUST, NATIONAL ASSOCIATION, as Notes Collateral Agent
		
	By:	 	  

		 	Name:
		 	Title:

 [Signature Page to Trademark Security Agreement] 

 Schedule IDocument

EXECUTION COPY

Separation and Release of Claims Agreement

This Separation and Release of Claims Agreement (“Agreement”) is entered into by and between DENTSPLY SIRONA Inc., a Delaware corporation (“Employer”) and Nicholas W. Alexos (“Executive”) (the Employer and the Executive are collectively referred to as “Parties”) as of May 24, 2019 (“Execution Date”).  

 The Employer and the Executive desire to continue their employment relationship for the period set forth herein and to reach an agreement regarding the Executive’s resignation of employment.

In consideration of the foregoing and of the respective covenants and agreements set forth below, the Parties agree as follows:

1.Employment and Separation. The Parties previously entered into an employment agreement effective as of October 10, 2017, as amended by the First Amendment to Employment Agreement entered into as of March 5, 2019 (together, the “Employment Agreement”). The Executive’s last day of employment with the Employer shall be the date that is ninety (90) days after the date that the Employer hires or appoints a new chief financial officer of the Employer to succeed the Executive (“Successor”) or such other date as the Parties may mutually agree (“Separation Date”). The Separation Date shall be the Date of Termination for purposes of the Employment Agreement. The Executive’s employment shall continue under the Employment Agreement until the Separation Date, except that the Executive shall not be entitled to any severance under the Employment Agreement or any other arrangement following his termination of employment, except as provided in this Agreement. Notwithstanding the foregoing, during the period after the date that the Employer hires or appoints a Successor and prior to the Separation Date, the Executive’s title shall be Executive Vice President and the Executive shall cooperate with the transition to the Successor during such period. After the Separation Date, the Executive will not represent himself as being an employee, officer, attorney, agent, or representative of the Employer for any purpose. Except as otherwise set forth in this Agreement, the Separation Date shall be the employment termination date for the Executive for all purposes, and the Executive is not entitled to any further compensation, monies, or other benefits from the Employer, including coverage under any benefit plans or programs sponsored by the Employer, as of the Separation Date. The Executive agrees to perform his duties to the Employer as the chief financial officer of the Employer through the date that the Employer hires or appoints a Successor, and as the Executive Vice President from such date until the Separation Date and otherwise in accordance with the standards in the Employment Agreement until the Separation Date. In the event that the Executive resigns his employment or otherwise fails to perform his duties to the Employer prior to the Separation Date (other than due to death, disability, or termination by the Employer without Cause (as defined in the Employment Agreement)) or does not comply with his duties and obligations under the Employment Agreement (other than due to death, disability, or termination by the Employer without Cause, provided, however, that such events shall not excuse the Executive’s compliance with his duties and obligations under Sections 5, 6, and 7 of the Employment Agreement), including, without limitation, Sections 5, 6, or 7 of the Employment Agreement, the Executive shall not be entitled to any payments or benefits hereunder, under the Employment Agreement, or under any other severance agreement on account of his separation from employment or otherwise.  During the period following the date a Successor is hired or appointed, the Executive shall be permitted to engage in outside business activities (including serving on outside boards or committees), subject to compliance with this Agreement and otherwise with the Employment Agreement and provided that such activities do not materially interfere with the Executive’s performance of duties and responsibilities to the Employer; however, for the avoidance of doubt, the Parties intend that the level of bona fide services that the Executive shall perform during such period after a Successor is hired or appointed through the Separation Date shall continue to be substantial, and in all events shall exceed twenty percent (20%) of the level of the Executive’s past services to the Employer, determined in accordance with Section 409A of the Internal Revenue Code.  

2. Return of Property. By the Separation Date, the Executive must return all Employer property, including identification cards or badges, access codes or devices, keys, laptops, computers, telephones, mobile phones (but Executive may keep his mobile phone number), hand-held electronic devices, credit cards, electronically stored documents or files, physical files, and any other Employer property in the Executive’s possession.  

3. Executive Representations. The Executive specifically represents, warrants, and confirms that the Executive: 

(a) has not filed any claims, complaints, or actions of any kind against the Employer with any court of law, or local, state, or federal government or agency; 

(b) has not made any claims or allegations to the Employer related to sexual harassment or sexual abuse, and that none of the payments set forth in this Agreement are related to sexual harassment or sexual abuse;

(c) has received all salary, wages, commissions, bonuses, and other compensation which was due and payable to the Executive prior to the date hereof, and for the avoidance of doubt with the exception of the Executive’s salary and other unpaid compensation and benefits for performance of his duties on and after the Execution Date and through the Separation Date, which will be paid in the normal course; and

(d) has not engaged in and is not aware of any unlawful conduct relating to the business of the Employer.

4. Separation Benefits. As consideration for the Executive’s execution of, non-revocation of, and compliance with this Agreement, including the Executive’s waiver and release of claims herein and other post-termination obligations, and the Executive’s execution and non-revocation of a subsequent release of all claims after but no later than 50 days after the Separation Date in such form as the Employer may prescribe (“Second Release”), in addition to payments and benefits set forth in Section 3(c) of the Employment Agreement (which are due and owing in any case), the Employer agrees to provide the following benefits to which the Executive is not otherwise entitled:

(a) An amount equal to two million two hundred seventy five thousand dollars ($2,275,000), payable over twenty four (24) months in equal installments in accordance with the Employer’s regular payroll practices, less all relevant taxes and other withholdings, starting on the first payroll date following the Effective Date but no later than 60 days following the Separation Date, in recognition of the amounts described in Section 4(b)(i) of the Employment Agreement. 

(b) An amount equal to the Annual Bonus under the Employment Agreement, determined based on the actual performance of the Employer for the full fiscal year in which the Separation Date occurs, prorated for the number of days of employment completed during the fiscal year in which the Separation Date occurs, less all relevant taxes and other withholdings, payable in a lump sum cash amount at the time it would otherwise have been paid had the Executive remained employed for the entire fiscal year.

(c) The following subsections (i) and (ii) describe the treatment of certain equity awards in connection with and following the Separation Date.  Any equity award, including any stock option, restricted share unit, or performance restricted share unit that is not set forth below shall be forfeited immediately on the Separation Date without further consideration therefor. 

(i) The equity awards set forth in the following schedule that are outstanding and have not been forfeited or settled on the Separation Date shall remain outstanding, continue to vest for a period of twenty four (24) months following the Separation Date notwithstanding the Executive’s termination of employment, and remain exercisable until the earlier of ninety (90) days following the 24-month anniversary after the Separation Date or the date such equity award would have expired had the Executive remained in continuous employment, subject to all other terms and conditions of the applicable plan and award under which they were granted. 

						
	Grant Date	Type of Award
	10/10/2017	Stock Options
	10/10/2017	Performance Restricted Share Units
	3/6/2018	Stock Options
	3/6/2018	Performance Restricted Share Units
	3/12/2019	Stock Options
	3/12/2019	Performance Restricted Share Units
		
		
		

(ii) All outstanding restricted share units set forth in the following schedule (“Applicable Grants”) that have not been forfeited, vested, or settled prior to the Separation Date shall become immediately vested as of the Separation Date, subject to all other terms and conditions of the applicable plan and award under which they were granted. The Applicable Grants shall be the Restricted Share Unit grants under the DENTSPLY SIRONA Inc. 2016 Omnibus Incentive Plan pursuant to Restricted Share Unit Grant Notices with a Grant Date and Number of Restricted Share Units as follows: 

						
	Grant Date	Number of Restricted Share Units Subject to subsection (ii)
	3/6/2018	5,077.587 
	3/12/2019	5,758.142 
	10/10/2017	18,009.884 

(d) A cash lump sum equal to forty six thousand seven hundred twenty eight dollars ($46,728), less all relevant taxes and other withholdings, payable 60 days following the Separation Date, in recognition of the amount of the premiums described in Section 4(b)(iv) of the Employment Agreement.    

(e) Subject to continued payment by the Executive of any applicable cost owed by him under the applicable plan, for the twenty four (24) months following the Separation Date, continuation of life and accidental death and dismemberment benefits substantially similar to those provided to the Executive and his dependents immediately prior to the Separation Date (in each case, however, subject to any amendments to such arrangements from time to time that are generally applicable to executives of the Employer), at no greater cost to the Executive than the cost to the Executive immediately prior to such date.   

(f) For eighteen (18) months immediately following the Separation Date or, if earlier, until the Executive secures employment, outplacement services commensurate with those customarily provided to senior executive officers through a vendor mutually selected by the Employer and the Executive.

(g) A lump sum amount, in cash, equal to one hundred twenty eight thousand three hundred and ten dollars ($128,310), less all relevant taxes and other withholdings, payable 60 days following the Separation Date, in recognition of the benefits described in Section 4(b)(vi) of the Employment Agreement. 

(h) A lump sum amount, in cash, equal to his attorneys’ fees incurred in the negotiation of this Agreement, but in no event to exceed ten thousand dollars ($10,000), less all relevant taxes and other withholdings, payable 60 days following the Separation Date upon submission of appropriate legal bills.

Notwithstanding the foregoing, no payment or benefit referred to in paragraphs (a)-(h) above in this Section 4 shall be made or begin before the Effective Date. The foregoing payments and benefits shall cease as of the date the Executive first violates any of his obligations set forth in Sections 5, 6, or 7 of the Employment Agreement.

The Executive understands, acknowledges, and agrees that these benefits exceed what the Executive is otherwise entitled to receive on separation from employment, and that these benefits are being given as consideration in exchange for executing the Second Release and this Agreement and the general release and restrictive covenants contained therein. The Executive further acknowledges that the Executive is not entitled to any additional payment or consideration not specifically referenced in this Agreement. Nothing in this Agreement shall be deemed or construed as an express or implied policy or practice of the Employer to provide these or other benefits to any individuals other than the Executive.

5. Release.

(a) Executive’s General Release and Waiver of Claims

In exchange for the consideration provided in this Agreement, the Executive and the Executive’s heirs, executors, representatives, administrators, agents, insurers, and assigns (collectively, “Releasors”) irrevocably and unconditionally fully and forever waive, release, and discharge the Employer, including the Employer’s parents, subsidiaries, affiliates, predecessors, successors, and assigns, and each of its and their respective officers, directors, employees, shareholders, trustees, partners, and other affiliates, in their corporate and individual capacities (collectively, “Released Parties”), from any and all claims, demands, actions, causes of actions, judgments, rights, fees, damages, debts, obligations, liabilities, and expenses (inclusive of attorneys’ fees) of any kind whatsoever, whether known or unknown, that Releasors may have or have ever had against the Released Parties, or any of them, arising out of, or in any way related to the Executive’s hire, benefits, employment, termination, or separation from employment with the Employer by reason of any actual or alleged act, omission, transaction, practice, conduct, occurrence, or other matter from the beginning of time up to and including the date of the Executive’s execution of this Agreement (collectively, “Released Claims”), including, but not limited to: 
(i) any and all claims under Title VII of the Civil Rights Act of 1964 (Title VII), the Americans with Disabilities Act (ADA), the Family and Medical Leave Act (FMLA) (regarding existing but not prospective claims), the Fair Labor Standards Act (FLSA), the Equal Pay Act, the Executive Retirement Income Security Act (ERISA) (regarding unvested benefits), the Civil Rights Act of 1991, Section 1981 of U.S.C. Title 42, the Fair Credit Reporting Act (FCRA), the Worker Adjustment and Retraining Notification (WARN) Act, the National Labor Relations Act (NLRA), the Age Discrimination in Employment Act (ADEA), the Uniform Services Employment and Reemployment Rights Act (USERRA), the 

Genetic Information Nondiscrimination Act (GINA), the Immigration Reform and Control Act (IRCA), all including any amendments and their respective implementing regulations, and any other federal, state, local, or foreign law (statutory, regulatory, or otherwise) that may be legally waived and released; however, the identification of specific statutes is for purposes of example only, and the omission of any specific statute or law shall not limit the scope of this general release in any manner;

(ii) any and all claims for compensation of any type whatsoever, including but not limited to claims for salary, wages, bonuses, commissions, incentive compensation, vacation, and severance that may be legally waived and released; 

(iii) any and all claims arising under tort, contract, and quasi-contract law, including but not limited to claims of breach of an express or implied contract, tortious interference with contract or prospective business advantage, breach of the covenant of good faith and fair dealing, promissory estoppel, detrimental reliance, invasion of privacy, nonphysical injury, personal injury or sickness or any other harm, wrongful or retaliatory discharge, fraud, defamation, slander, libel, false imprisonment, and negligent or intentional infliction of emotional distress; and

(iv) any and all claims for monetary or equitable relief, including but not limited to attorneys’ fees, back pay, front pay, reinstatement, experts’ fees, medical fees or expenses, costs and disbursements, punitive damages, liquidated damages, and penalties.

However, notwithstanding anything herein to the contrary, this general release and waiver of claims excludes, and the Executive does not waive, release, or discharge: (A) any right to file an administrative charge or complaint with, or testify, assist, or participate in an investigation, hearing, or proceeding conducted by, the Equal Employment Opportunity Commission or other similar federal or state administrative agencies, although the Executive waives any right to monetary relief related to any filed charge or administrative complaint; (B) claims that cannot be waived by law, such as claims for any rights to vested benefits, such as pension or retirement benefits, the rights to which are governed by the terms of the applicable plan documents and award agreements; (C) any right under this Agreement; (D) any right relating to directors’ and officers’ liability insurance coverage or any right of indemnification or exculpation under the Employer’s or its affiliates’ organizational documents or otherwise; or (E) any right as an equityholder in the Employer or its affiliates.

(b) Specific Release of ADEA Claims

In further consideration of the payments and benefits provided to the Executive in this Agreement, the Releasors hereby irrevocably and unconditionally fully and forever waive, release, and discharge the Released Parties from any and all Released Claims, whether known or unknown, from the beginning of time through the date of the Executive’s execution of this Agreement arising under the Age Discrimination in 

Employment Act (ADEA), as amended, and its implementing regulations. By signing this Agreement, the Executive hereby acknowledges and confirms that: 

(i) the Executive has read this Agreement in its entirety and understands all of its terms; 

(ii) by this Agreement, the Executive has been advised in writing to consult with an attorney of the Executive’s choosing and has consulted with such counsel as the Executive believed was necessary before signing this Agreement; 

(iii) the Executive knowingly, freely, and voluntarily agrees to all of the terms and conditions set out in this Agreement including, without limitation, the waiver, release, and covenants contained in it; 

(iv) the Executive is signing this Agreement, including the waiver and release, in exchange for good and valuable consideration in addition to anything of value to which the Executive is otherwise entitled; 

(v) the Executive was given at least twenty-one (21) days to consider the terms of this Agreement and consult with an attorney of the Executive’s choice, although the Executive may sign it sooner if desired and changes to this Agreement, whether material or immaterial, do not restart the running of the 21-day period; 

(vi) the Executive understands that the Executive has seven (7) days after signing this Agreement to revoke the release in this paragraph by delivering notice of revocation to the Employer’s General Counsel at the Employer’s headquarters by email/fax/overnight delivery before the end of this seven-day period; and 

(vii) the Executive understands that the release contained in this paragraph does not apply to rights and claims that may arise after the Executive signs this Agreement.

6. Effective Date. This Agreement shall not become effective until the eighth (8th) day after the Executive signs, without revoking, this Agreement (“First Agreement Effective Date”). No payments otherwise due to the Executive under this Agreement shall be made or begin before both the First Agreement Effective Date and Second Agreement Effective Date.  The Second Agreement Effective Date shall be the date that the Second Release becomes effective after the Executive executes and does not revoke such Second Release, after the Executive has had 21 days to consider the terms of the Second Release and has not revoked such Second Release (the First Agreement Effective Date and Second Agreement Effective Date, collectively, the “Effective Date”). The Executive must execute and not revoke both this Agreement and the Second Release within the required time periods in order to become entitled to any payment or benefit under this Agreement. Notwithstanding anything herein to the contrary, if the period during which Executive could execute and not revoke the Second Release spans two taxable years, and the Executive in fact timely executes and does not revoke this Agreement and the Second Release, payment shall be made or commence in the second taxable year to the extent 

required to avoid adverse tax consequences under Section 409A of the Internal Revenue Code of 1986.

7. Post-Termination Obligations and Restrictive Covenants.  The Executive acknowledges, affirms, and agrees to comply in all respects with his obligations under Sections 5, 6, and 7 of the Employment Agreement. Nothing therein or herein shall be construed to prevent disclosure of Confidential Information (as defined in the Employment Agreement) as may be required by applicable law or regulation, or pursuant to the valid order of a court of competent jurisdiction or an authorized government agency, provided that the disclosure does not exceed the extent of disclosure required by such law, regulation, or order. Nothing in this Agreement prohibits or restricts the Executive (or Executive’s attorney) from initiating communications directly with, responding to an inquiry from, or providing testimony before the Securities and Exchange Commission (SEC), the Financial Industry Regulatory Authority (FINRA), any other self-regulatory organization, or any other federal or state regulatory authority regarding this Agreement or its underlying facts or circumstances.

8. Confidentiality of Agreement. The Executive agrees and covenants that the Executive shall not disclose any of the negotiations of, terms of, or amount, compensation, or benefits paid or provided under this Agreement to any individual or entity; provided, however, that the Executive will not be prohibited from making disclosures to the Executive’s spouse or domestic partner, attorney, tax advisors, or as may be required by law or from disclosing the Executive’s post-employment restrictions in this Agreement or the Employment Agreement in confidence to any potential new employer of the Executive. This Section does not in any way restrict or impede the Executive from exercising protected rights to the extent that such rights cannot be waived by agreement or from complying with any applicable law or regulation or a valid order of a court of competent jurisdiction or an authorized government agency, provided that such compliance does not exceed that required by the law, regulation, or order. Notwithstanding anything herein to the contrary, the Parties shall mutually agree on any press release or talking points that the Employer may issue; provided, that, in all events, the Employer shall make such disclosures as may be required or appropriate consistent with its reporting and disclosure obligations under law or otherwise.

9. Remedies. In the event of a breach by the Executive of any of the provisions of this Agreement (including any provisions that remain in effect under the Employment Agreement), the Executive hereby consents and agrees that the Employer shall be entitled to seek and obtain, in addition to other available remedies, a temporary, preliminary, and permanent injunction or other equitable relief against such breach from any court of competent jurisdiction, without the necessity of showing any actual damages or that money damages would not afford an adequate remedy, and without the necessity of posting any bond or other security. Any equitable relief shall be in addition to, not instead of, legal remedies, monetary damages, or other available relief. If the Executive fails to comply with any of the terms of this Agreement or post-employment obligations, the Employer may, in addition to any other remedies it may have, terminate any benefits or payments that are later due under this Agreement, without waiving the releases provided in it.

10. Successors and Assigns.   Section 11 of the Employment Agreement is hereby incorporated by reference, and for purposes of this Agreement, references to “this Agreement” in Section 11 of the Employment Agreement shall be deemed to be references to this Agreement.

11. Governing Law, Jurisdiction, and Venue. This Agreement and all matters arising out of or relating to this Agreement and the Executive’s employment by the Employer, whether sounding in contract, tort, or statute, for all purposes shall be governed by and construed in accordance with the laws of Pennsylvania without regard to any conflicts of laws principles that would require the laws of any other jurisdiction to apply. Any action or proceeding by either of the Parties relating to or arising out of this Agreement shall be brought and pursued only in any state or federal court encompassing York, Pennsylvania. The Parties hereby irrevocably submit to the exclusive jurisdiction of these courts and waive the defense of inconvenient forum to the maintenance of any action or proceeding in such venue.  Section 13(h) of the Employment Agreement relating to arbitration is specifically superseded and shall not apply, and in no event shall claims relating to or arising out of this Agreement or the Executive’s employment by the Employer be settled, submitted to or otherwise subject to arbitration.

12. Entire Agreement. Unless specifically provided herein, this Agreement and the Second Release contain all of the understandings and representations between Employer and Executive relating to the Executive’s separation from employment and severance and supersedes all prior and contemporaneous understandings, discussions, agreements, representations, and warranties, both written and oral, regarding such subject matter; provided, however, that nothing in this Agreement modifies, supersedes, voids, or otherwise alters Executive’s agreements in Sections 5, 6, and 7 of the Employment Agreement which shall remain in full force and effect. 

13. Modification and Waiver. Subject to Section 5(c) of the Employment Agreement, no provision of this Agreement may be amended or modified by the Parties unless the amendment or modification is agreed to in writing and signed by the Executive and by the Chief Executive Officer or General Counsel of the Employer. No waiver by either Party of any breach by the other party of any condition or provision of this Agreement to be performed by the other Party shall be deemed a waiver of any similar or dissimilar provision or condition at the same or any prior or subsequent time, nor shall the failure of or delay by either of the Parties in exercising any right, power, or privilege under this Agreement operate as a waiver thereof to preclude any other or further exercise thereof or the exercise of any other such right, power, or privilege.

14. Severability. If any provision of this Agreement is held to be invalid, illegal, or unenforceable, such provision shall be fully severable; this Agreement shall be construed and enforced as if such illegal, invalid, or unenforceable provision had never comprised a portion of this Agreement; and the remaining provisions of this Agreement shall remain in full force and effect and shall not be affected by the illegal, invalid, or unenforceable provision or by its severance from this Agreement.  Furthermore, in lieu of such illegal, invalid, or unenforceable provision there shall be added automatically as part of this Agreement a provision as similar in terms to such illegal, invalid, or unenforceable provision as may be possible and be legal, valid, and enforceable.

15. Captions. Captions and headings of the sections and paragraphs of this Agreement are intended solely for convenience and no provision of this Agreement is to be construed by reference to the caption or heading of any section or paragraph.

16. Counterparts. The Parties may execute this Agreement in counterparts, each of which shall be deemed an original, and all of which taken together shall constitute one and the same instrument.

17. No Admission of Liability. Nothing in this Agreement shall be construed as an admission by the Employer or the Executive of any wrongdoing, liability, or noncompliance with any federal, state, city, or local rule, ordinance, statute, common law, or other legal obligation. 

18. Notices. All notices under this Agreement must be given in writing as described herein. When providing written notice to Employer, a copy must be provided to Employer’s General Counsel at the Company’s headquarters.  Notice to the Executive shall be addressed to the Executive at the last address on file with the Employer. 

19. Attorneys’ Fees and Costs. In the event action is brought for breach of this Agreement, the court shall award fees and costs to the prevailing party, in accordance with applicable law. If in the opinion of the court there is no prevailing party, then each party shall pay its own attorney’s fees and expenses.

20. Section 409A. This Agreement is intended to comply with Section 409A of the Internal Revenue Code of 1986, as amended (“Section 409A”), including the exceptions thereto, and shall be construed and administered in accordance with such intent. Notwithstanding any other provision of this Agreement, payments provided under this Agreement may only be made upon an event and in a manner that complies with Section 409A or an applicable exemption. Any payments under this Agreement that may be excluded from Section 409A either as separation pay due to an involuntary separation from service, as a short-term deferral, or as a settlement payment pursuant to a bona fide legal dispute shall be excluded from Section 409A to the maximum extent possible. For purposes of Section 409A, any installment payments provided under this Agreement shall each be treated as a separate payment. To the extent required under Section 409A, any payments to be made under this Agreement in connection with a termination of employment shall only be made if such termination constitutes a “separation from service” under Section 409A. Notwithstanding the foregoing, Employer makes no representations that the payments and benefits provided under this Agreement comply with Section 409A and in no event shall Employer be liable for all or any portion of any taxes, penalties, interest, or other expenses that may be incurred by Executive on account of non-compliance with Section 409A. Notwithstanding anything in this Agreement or any other agreement to the contrary, if the Executive is deemed by the Employer at the time of the Executive’s separation from service to be a “specified employee” for purposes of Section 409A, any payment of compensation or benefits to which the Executive is entitled under this Agreement or any other arrangement that is considered nonqualified deferred compensation under Section 409A payable as a result of the Executive’s separation from service shall be delayed to the extent required in order to avoid adverse tax consequences under Section 409A until the earlier of (i) the expiration of the six-month period measured from the date of the Executive’s separation from service with the Employer or (ii) the date of the Executive’s death.  Upon the first business day following the 

expiration of the applicable period, all payments deferred pursuant to the preceding sentence shall be paid in a lump sum to the Executive (or the Executive’s estate or beneficiaries), and any remaining payments due to the Executive under this Agreement or any arrangement shall be paid as otherwise provided herein or therein.

21. Acknowledgment of Full Understanding. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT THE EXECUTIVE HAS FULLY READ, UNDERSTANDS, AND VOLUNTARILY ENTERS INTO THIS AGREEMENT. THE EXECUTIVE ACKNOWLEDGES AND AGREES THAT THE EXECUTIVE HAS HAD AN OPPORTUNITY TO ASK QUESTIONS AND CONSULT WITH AN ATTORNEY OF THE EXECUTIVE’S CHOICE BEFORE SIGNING THIS AGREEMENT. THE EXECUTIVE FURTHER ACKNOWLEDGES THAT THE EXECUTIVE’S SIGNATURE BELOW IS AN AGREEMENT TO RELEASE EMPLOYER FROM ANY AND ALL CLAIMS THAT CAN BE RELEASED AS A MATTER OF LAW.

[SIGNATURE PAGE FOLLOWS]

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the Execution Date above.

						
		DENTSPLY SIRONA Inc.
		By /s/ Keith J. Ebling 
Name: Keith J. Ebling
Title: Executive Vice President and General Counsel

	NICHOLAS W. ALEXOS	
	Signature: /s/ Nicholas W. Alexos 
Print Name: Nicholas W. Alexos

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