Document:

Amended Senior Secured Indenture

 EXHIBIT 4.3 
 AMPEX CORPORATION 
 Issuer 
 12% Senior Secured Notes 
 Due 2009 
 AMENDED AND RESTATED INDENTURE 
 Dated as of October 3, 2008 
 U.S. BANK NATIONAL ASSOCIATION 
 Trustee

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE 1        DEFINITIONS AND INCORPORATION BY REFERENCE
	  	1
			
	 SECTION 1.01
	  	Definitions	  	1
			
	 SECTION 1.02
	  	Other Definitions	  	15
			
	 SECTION 1.03
	  	Incorporation by Reference of Trust Indenture Act	  	16
			
	 SECTION 1.04
	  	Rules of Construction	  	16
		
	 ARTICLE 2        THE SECURITIES
	  	17
			
	 SECTION 2.01
	  	Form and Dating	  	17
			
	 SECTION 2.02
	  	Execution and Authentication	  	17
			
	 SECTION 2.03
	  	Registrar and Paying Agent	  	18
			
	 SECTION 2.04
	  	Paying Agent To Hold Money in Trust	  	18
			
	 SECTION 2.05
	  	Securityholder Lists	  	18
			
	 SECTION 2.06
	  	Transfer and Exchange	  	19
			
	 SECTION 2.07
	  	Restrictive Legends	  	19
			
	 SECTION 2.08
	  	Book Entry Provisions for Global Securities	  	20
			
	 SECTION 2.09
	  	Special Transfer Provisions	  	21
			
	 SECTION 2.10
	  	Replacement Securities	  	22
			
	 SECTION 2.11
	  	Outstanding Securities	  	22
			
	 SECTION 2.12
	  	Temporary Securities	  	23
			
	 SECTION 2.13
	  	Cancellation	  	23
			
	 SECTION 2.14
	  	Additional Securities	  	23
			
	 SECTION 2.15
	  	Defaulted Interest	  	23
			
	 SECTION 2.16
	  	CUSIP Numbers	  	23

  

					
			
	 ARTICLE 3       
	 	AMORTIZATION FROM EXCESS FLOW; APPLICATION OF DISTRIBUTIONS FROM INTERCREDITOR AGREEMENT; PREPAYMENT UPON EQUITY ISSUANCE	  	24

  

					
			
	 SECTION 3.01
	  	General	  	24
			
	 SECTION 3.02
	  	Application of Excess Cash Flow	  	24
			
	 SECTION 3.03
	  	Obligation to Pay Securities in Cash	  	24
			
	 SECTION 3.04
	  	Application of Distributions from Intercreditor Agreement	  	24
			
	 SECTION 3.05
	  	Prepayment Upon Equity Issuance	  	24
			
	 SECTION 3.06
	  	Prepayment Upon an Asset Sale	  	25
			
	 SECTION 3.07
	  	Prepayments to be made pro rata	  	25

  

 i 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		
	 ARTICLE 4        REDEMPTION
	  	25
			
	 SECTION 4.01
	  	Notices to Trustee	  	25
			
	 SECTION 4.02
	  	Selection of Securities To Be Redeemed	  	25
			
	 SECTION 4.03
	  	Notice of Redemption	  	25
			
	 SECTION 4.04
	  	Effect of Notice of Redemption	  	26
			
	 SECTION 4.05
	  	Deposit of Redemption Price	  	26
			
	 SECTION 4.06
	  	Securities Redeemed in Part	  	26
		
	 ARTICLE 5        COVENANTS
	  	27
			
	 SECTION 5.01
	  	Payment of Securities	  	27
			
	 SECTION 5.02
	  	SEC Reports	  	27
			
	 SECTION 5.03
	  	Limitation on Indebtedness	  	28
			
	 SECTION 5.04
	  	Limitation on Restricted Payments	  	30
			
	 SECTION 5.05
	  	Limitation on Asset Sales; Equity Issuances	  	30
			
	 SECTION 5.06
	  	Limitation on Liens	  	31
			
	 SECTION 5.07
	  	Limitation on Dividends and Other Payment Restrictions Affecting Restricted Subsidiaries	  	31
			
	 SECTION 5.08
	  	Limitation on Transactions with Affiliates	  	32
			
	 SECTION 5.09
	  	Limitation on Designation of Unrestricted Subsidiaries	  	33
			
	 SECTION 5.10
	  	Change of Control	  	33
			
	 SECTION 5.11
	  	Compliance Certificate: Notice of Defaults	  	34
			
	 SECTION 5.12
	  	Further Instruments and Acts	  	34
			
	 SECTION 5.13
	  	Hillside Credit Agreement	  	35
			
	 SECTION 5.14
	  	Taxes	  	35
			
	 SECTION 5.15
	  	Business Activities	  	35
			
	 SECTION 5.16
	  	Corporate Existence	  	36
			
	 SECTION 5.17
	  	Additional Note Guarantees	  	36
			
	 SECTION 5.18
	  	No Senior or Pari Passu Indebtedness	  	36
		
	 ARTICLE 6        RESTRICTIONS ON MERGER
	  	36
		
	 ARTICLE 7        DEFAULTS AND REMEDIES
	  	37
			
	 SECTION 7.01
	  	Events of Default	  	37
			
	 SECTION 7.02
	  	Acceleration	  	39
			
	 SECTION 7.03
	  	Other Remedies	  	39
			
	 SECTION 7.04
	  	Waiver of Past Defaults	  	39
			
	 SECTION 7.05
	  	Control by Majority	  	40

  

 ii 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
			
	 SECTION 7.06
	  	Limitation on Suits	  	40
			
	 SECTION 7.07
	  	Rights of Holders To Receive Payment	  	40
			
	 SECTION 7.08
	  	Collection Suit by Trustee	  	40
			
	 SECTION 7.09
	  	Trustee May File Proofs of Claim	  	41
			
	 SECTION 7.10
	  	Priorities	  	41
			
	 SECTION 7.11
	  	Undertaking for Costs	  	41
			
	 SECTION 7.12
	  	Waiver of Stay or Extension Laws	  	41
		
	 ARTICLE 8        TRUSTEE
	  	42
			
	 SECTION 8.01
	  	Duties of Trustee	  	42
			
	 SECTION 8.02
	  	Rights of Trustee	  	43
			
	 SECTION 8.03
	  	Individual Rights of Trustee	  	43
			
	 SECTION 8.04
	  	Trustee’s Disclaimer and Direction	  	43
			
	 SECTION 8.05
	  	Notice of Default	  	44
			
	 SECTION 8.06
	  	Reports by Trustee to Holders	  	44
			
	 SECTION 8.07
	  	Compensation and Indemnity	  	44
			
	 SECTION 8.08
	  	Replacement of Trustee	  	44
			
	 SECTION 8.09
	  	Successor Trustee by Merger	  	45
			
	 SECTION 8.10
	  	Eligibility; Disqualification	  	46
			
	 SECTION 8.11
	  	Preferential Collection of Claims Against Corporation	  	46
		
	 ARTICLE 9        SATISFACTION AND DISCHARGE OF INDENTURE
	  	46
			
	 SECTION 9.01
	  	Discharge of Liability on Securities; Defeasance	  	46
			
	 SECTION 9.02
	  	Conditions to Defeasance	  	47
			
	 SECTION 9.03
	  	Application of Trust Money	  	48
			
	 SECTION 9.04
	  	Repayment to Corporation	  	48
			
	 SECTION 9.05
	  	Indemnity for Government Obligations	  	48
			
	 SECTION 9.06
	  	Reinstatement	  	48
		
	 ARTICLE 10        AMENDMENTS, SUPPLEMENTS AND WAIVERS
	  	48
			
	 SECTION 10.01
	  	Without Consent of Holders	  	48
			
	 SECTION 10.02
	  	With Consent of Holders	  	49
			
	 SECTION 10.03
	  	Compliance with Trust Indenture Act	  	50
			
	 SECTION 10.04
	  	Revocation and Effect of Consents	  	50
			
	 SECTION 10.05
	  	Notation on or Exchange of Securities	  	51
			
	 SECTION 10.06
	  	Trustee To Sign Amendments	  	51
			
	 SECTION 10.07
	  	Payment for Consent	  	51

  

 iii 

 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
		
	 ARTICLE 11        CONCERNING THE COLLATERAL
	  	51
			
	 SECTION 11.01
	  	Security Agreement	  	51
			
	 SECTION 11.02
	  	Payment of Expenses	  	52
			
	 SECTION 11.03
	  	Opinions as to Recording, etc.	  	52
			
	 SECTION 11.04
	  	Release of Collateral; Additional Liens	  	53
			
	 SECTION 11.05
	  	Certificates and Opinions of Counsel	  	54
			
	 SECTION 11.06
	  	Certificates of the Trustee	  	54
			
	 SECTION 11.07
	  	Authorization of Actions to be Taken by the Trustee under the Intercreditor Agreement	  	55
			
	 SECTION 11.08
	  	Authorization of Receipt of Funds by the Trustee under the Security Agreement and Intercreditor Agreement	  	55
			
	 SECTION 11.09
	  	Collateral Agent	  	55
		
	 ARTICLE 12        GUARANTEE
	  	55
			
	 SECTION 12.01
	  	Guarantees	  	55
			
	 SECTION 12.02
	  	Limitation on Liability	  	57
			
	 SECTION 12.03
	  	Successors and Assigns	  	58
			
	 SECTION 12.04
	  	No Waiver	  	58
			
	 SECTION 12.05
	  	Modification	  	58
			
	 SECTION 12.06
	  	Waiver of Subrogation	  	58
			
	 SECTION 12.07
	  	Release of Subsidiary Guarantor	  	59
			
	 SECTION 12.08
	  	Contribution	  	59
			
	 SECTION 12.09
	  	Waiver of Stay, Extension or Usury Laws	  	59
		
	 ARTICLE 13        MISCELLANEOUS
	  	60
			
	 SECTION 13.01
	  	Trust Indenture Act Controls	  	60
			
	 SECTION 13.02
	  	Notices	  	60
			
	 SECTION 13.03
	  	Communication by Holders with Other Holders	  	60
			
	 SECTION 13.04
	  	Certificate and Opinion as to Conditions Precedent	  	61
			
	 SECTION 13.05
	  	Statements Required in Certificate or Opinion	  	61
			
	 SECTION 13.06
	  	When Treasury Securities Disregarded	  	61
			
	 SECTION 13.07
	  	Rules by Trustee, Paying Agent and Registrar	  	61
			
	 SECTION 13.08
	  	Legal Holidays	  	61
			
	 SECTION 13.09
	  	Governing Law	  	62

  

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 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
			
	 SECTION 13.10
	  	No Recourse Against Others	  	62
			
	 SECTION 13.11
	  	Successors	  	62
			
	 SECTION 13.12
	  	Counterparts	  	63

  

 v 

 CROSS-REFERENCE TABLE 
  

			
	 TIA Section
	  	 Indenture Section

	310(a)(1)	  	SECTION 8.10
	(a)(2)	  	SECTION 8.10
	(a)(3)	  	N.A.
	(a)(4)	  	N.A.
	(b)	  	 SECTION 8.08;
 SECTION 8.10;
 SECTION 13.03

	(c)	  	N.A.
	311(a)	  	SECTION 8.10
	(b)	  	SECTION 8.10
	(c)	  	N.A.
	312(a)	  	SECTION 2.04
	313(a)	  	SECTION 8.05
	(b)(1)	  	N.A.
	(b)(2)	  	SECTION 8.05
	(d)	  	SECTION 8.05
	314(a)	  	 SECTION 5.02;
 SECTION 13.03

	(b)	  	SECTION 13.03
	(c)(1)	  	SECTION 13.05
	(c)(2)	  	SECTION 10.05
	(c)(3)	  	N.A.
	(d)	  	N.A.
	(e)	  	SECTION 13.06
	(f)	  	SECTION 5.06
	315(a)	  	SECTION 8.01
	(b)	  	 SECTION 8.04;
 SECTION 13.03

	(c)	  	SECTION 8.01
	(d)	  	SECTION 8.01
	(e)	  	SECTION 7.11
	316(a)(last sentence)	  	SECTION 13.06
	(a)(1)(A)	  	SECTION 7.04
	(a)(1)(B)	  	SECTION 7.04
	(a)(2)	  	N.A.
	(b)	  	SECTION 7.07
	317(a)(1)	  	SECTION 7.07
	(a)(2)	  	SECTION 7.08
	(b)	  	SECTION 2.04
	318(a)	  	SECTION 13.01

 N.A. means Not Applicable. 
 Note: This Cross-Reference Table shall not, for any purpose, be deemed to be part of the Indenture. 
  

 vi 

 AMENDED AND RESTATED INDENTURE dated as of October 3, 2008 (the “Amended and Restated
Indenture”), by and among AMPEX CORPORATION, a Delaware corporation (“Corporation”), the Subsidiary Guarantors party hereto and U.S. BANK NATIONAL ASSOCIATION, as successor trustee to State Street Bank and Trust Company
(“Trustee”). 
 WHEREAS, the Corporation and the Trustee are parties to the Indenture, dated February 28, 2002 (as amended by
the First Amendment to the Indenture dated as of March 2, 2004) (the “Existing Indenture”), pursuant to which the Corporation issued $50,000,000 in principal amount of 12% Senior Secured Notes Due 2008 (the “Existing Senior
Secured Notes”). As of the date hereof, before giving effect to the Effective Date (as defined herein), $6,796,584.57 in principal amount of Existing Senior Secured Notes are outstanding. 
 WHEREAS pursuant to the First Modified Third Amended Joint Chapter 11 Plan of Reorganization for Ampex Corporation and its Affiliated Debtors that was
filed with the United States Bankruptcy Court, Southern District of New York on July 9, 2008 and confirmed pursuant to an Order of such court on July 31, 2008 (the “Plan of Reorganization”), the Corporation has agreed to issue
Securities (as defined herein) and Subsidiary Guarantors have agreed to guarantee the Securities, all on the terms and conditions defined herein; 
 NOW THEREFORE, the Corporation, Subsidiary Guarantors and the Trustee agree as follows for the benefit of each other and for the equal and ratable benefit of the Holders of the Corporation’s 12% Senior Secured Notes Due 2009 (the
“Securities”) issued under this Amended and Restated Indenture: 
 ARTICLE 1 
 Definitions and Incorporation by Reference 
 SECTION 1.01 Definitions 
 “Affiliate” of any specified Person means any other Person directly or indirectly controlling
or controlled by or under direct or indirect common control with such specified Person. For purposes of this definition, “control” (including, with correlative meanings, the terms “controlling,” “controlled by” and
“under common control with”) of any Person means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities, by
agreement or otherwise. 
 “Ampex Group” means the Corporation and any domestic subsidiary (whether or not incorporated) under
Common Control with the Corporation, and any successor thereto. 
 “Asset Sale” means (i) any sale, lease, conveyance or other
disposition by the Corporation or any Restricted Subsidiary (other than to the Corporation or a Subsidiary Guarantor and other than directors’ qualifying shares) of any assets (including by way of a sale-and-leaseback) other than in the
ordinary course of business or (ii) the issuance or sale of Capital Stock (other than Disqualified Stock) of any Restricted Subsidiary, provided, however, the following transactions shall not be deemed Asset Sales to the extent they do not
trigger any mandatory prepayment under any other Material Indebtedness of the Corporation or any Restricted Subsidiary: 
 (i) the Corporation
or any Restricted Subsidiary may sell Capital Stock or Indebtedness or other securities of an Unrestricted Subsidiary; 

 (ii) the Corporation and any Restricted Subsidiary may (x) convey, sell, lease, transfer, assign or
otherwise dispose of assets pursuant to and in accordance with the provisions of Article 6 of this Indenture and (y) make Restricted Payments permitted by the provisions of Section 5.04 of this Indenture; 
 (iii) the Corporation and any Restricted Subsidiary may create or assume Liens (or permit any foreclosure thereon) securing Indebtedness to the extent
that such Lien does not violate the provisions of Section 5.06 of this Indenture. 
 “Average Life” means, as of the date of
determination, with respect to any Indebtedness or Preferred Stock, the quotient obtained by dividing (i) the sum of the products of numbers of years (rounded upwards to the nearest month) from the date of determination to the dates of each
successive scheduled principal payment of such Indebtedness or redemption or similar payment with respect to such Preferred Stock multiplied by the amount of such payment by (ii) the sum of all such payments. 
 “Board of Directors” means the Board of Directors of the Corporation or any duly authorized committee thereof. 
 “Business Day” means each day which is not a Legal Holiday. 
 “California Tax Claims” means those certain (i) proofs of claim numbered 586, 587, 588, 589, 590, 591 and 592 filed on September 26, 2008, by the State of California Franchise Tax Board in the
aggregate amount of $1,762,335.02 against the Corporation and the Subsidiary Guarantors, which are inclusive of (ii) claims asserted by the State of California Franchise Tax Board against the Corporation and the Subsidiary Guarantors in that
certain letter dated September 24, 2008. 
 “Capital Lease Obligation” means an obligation that is required to be classified
and accounted for as a capital lease for financial reporting purposes in accordance with GAAP, and the amount of Indebtedness represented by such obligation shall be the capitalized amount of such obligation determined in accordance with GAAP; and
the Stated Maturity thereof shall be the date of the last payment of rent or any other amount due under such lease prior to the first date upon which such lease may be terminated by the lessee without payment of a penalty. 
 “Capital Expenditures” means, for any period, expenditures (including the aggregate amount of Capital Lease Obligations incurred during such
period) made by the Corporation or any of its Subsidiaries to acquire or construct fixed assets, plant and equipment (including renewals, improvements and replacements, but excluding repairs) during such period computed in accordance with GAAP.

  

 2 

 “Capital Stock” of any Person means and includes any and all shares, interests, rights to
purchase, warrants, options, participations or other equivalents of or interests in equity (however designated) of such Person, including Preferred Stock, but excluding any debt securities convertible into such equity. 
 “Cash Equivalents” means (i) marketable direct obligations issued by, or unconditionally guaranteed by, the United States Government or
issued by any agency thereof and backed by the full faith and credit of the United States, (ii) marketable direct obligations issued by any state of the United States of America or any political subdivision of any such state or any public
instrumentality thereof maturing within one year from the date of acquisition thereof and, at the time of acquisition, having one of the two highest ratings obtainable from either Standard & Poor’s Rating Services or Moody’s
Investors Service, Inc.; (iii) commercial paper maturing no more than one year from the date of creation thereof and, at the time of acquisition, having a rating of at least A-1 from Standard & Poor’s Rating Services or at least
P-1 from Moody’s Investors Service, Inc.; (iv) certificates of deposit or bankers’ acceptances (or, with respect to foreign banks, similar instruments) maturing within one year from the date of acquisition thereof issued by any bank
organized under the laws of the United States of America or any state thereof or the District of Columbia or any member of the European Economic Community or any U.S. branch of a foreign bank having at the date of acquisition thereof combined
capital and surplus of not less than $200 million; (v) repurchase obligations with a term of not more than seven days for underlying securities of the types described in clause (i) above entered into with any bank meeting the
qualifications specified in clause (iv) above; and (vi) investments in money market funds which invest substantially all their assets in securities of the types described in clauses (i) through (v) above. 
 “Change of Control” means the occurrence of any of the following events: (i) any “person” or “group” (as such terms
are used in Sections 13(d) and 14(d) of the Exchange Act), other than one or more Permitted Holders, is or becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act except that for purposes of this clause
(i) such person or group shall be deemed to have “beneficial ownership” of all shares that any such person or group has the right to acquire, whether such right is exercisable immediately or only after the passage of time), directly
or indirectly, of more than 50% of the total voting power of the outstanding Voting Stock of the Corporation; (ii) individuals who on the Issue Date constituted the Board of Directors (together with any new directors whose election by such
Board of Directors or whose nomination for election by the shareholders of the Corporation was approved by a majority of the directors of the Corporation then still in office who were either directors on the Issue Date or whose election or
nomination for election was previously so approved) cease for any reason to constitute a majority of the Board of Directors then in office; (iii) the adoption of a plan relating to the liquidation or dissolution of the Corporation;
(iv) the sale, lease or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Corporation and its Restricted Subsidiaries to any person or group (as so defined), excluding any
such sale, lease or other transfer (x) to or among the Corporation’s Restricted Subsidiaries and (y) to any Person that is controlled by the Permitted Holders or (v) the occurrence of a “Change in Control” as such term
is defined in the Hillside Credit Agreement. 
  

 3 

 “Collateral” means all the collateral provided for under and described in the Security
Agreement. 
 “Collateral Agent” means Hillside as collateral agent under the Security Agreement, and its successors as collateral
agents thereunder. 
 “Common Control” shall have the same meaning as defined in section 4001(a)(14)(A) of ERISA and under rules
found in 29 C.F.R. §4001.3. 
 “Consolidated EBITDA” means Consolidated Net Income plus (a) interest expense,
(b) expense for taxes paid or accrued net of refundable taxes, (c) depreciation expense, (d) amortization expense, (e) other accrued non-cash charges, (f) extraordinary non-cash losses incurred other than in the ordinary
course of business, minus, to the extent included in Consolidated Net Income, extraordinary non-cash gains realized other than in the ordinary course of business. Unless otherwise specified, inputs used in the calculation of Consolidated EBITDA
shall be determined in accordance with GAAP in a consistently applied manner. 
 “Consolidated Net Income” means, for any period,
the net income of the Corporation and its Subsidiaries, determined on a consolidated basis for such period, in accordance with GAAP. 
 “Corporate Trust Office” of the Trustee shall be at the address of the Trustee specified in Section 13.02 of this Indenture or such other address as to which the Trustee gives notice to the Corporation. 
 “Corporation” means the party named as such in this Indenture until a successor replaces it and, thereafter, means the successor. 

“Currency Agreement Obligations” means the obligations of any Person under any foreign exchange contract, currency swap agreement or other
similar agreement to protect such Person against fluctuations in currency values. 
 “Default” means any event which is, or after
notice or passage of time or both would be, an Event of Default. 
 “Depository” means The Depository Trust Company, New York, New
York, or any successor thereto registered under the Exchange Act or other applicable statute or regulation. 
 “Disqualified Stock” means (a) any Preferred Stock of any Restricted Subsidiary, (b) any Capital Stock which by its terms (or by the terms of any security into which it is convertible or for which
it is exchangeable) or upon the happening of any event (i) matures or is mandatorily redeemable pursuant to a sinking fund obligation or otherwise, or (ii) is redeemable at the option of the holder thereof (other than upon the occurrence
of an “Asset Sale” or a change of control of the Corporation in circumstances where the holders of the Securities would have similar rights), in whole or in part, in each case on or prior to the 91st day after the Stated Maturity of the Securities and (c) any Preferred Stock guaranteed by a Restricted Subsidiary, including without limitation the New Preferred Stock.

  

 4 

 “Domestic Subsidiary” means any Restricted Subsidiary of the Corporation that was formed under
the laws of the United States or any state of the United States or the District of Columbia or that guarantees or otherwise provides direct credit support for any Indebtedness of the Corporation. 
 “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time. 
 “Effective Date” means the date on which this Amended and Restated Indenture becomes effective pursuant to the final order of the Bankruptcy
Court confirming the Plan of Reorganization and the fulfillment of the conditions to consummation of the Amended and Restated Indenture specified in the letter agreement dated as of October 3, 2008 between the Corporation, the Trustee and the
Subsidiary Guarantors party thereto. 
 “Equity Issuance” means (a) any issuance or sale by the Corporation or any Restricted
Subsidiary after the Effective Date of (i) any of its Capital Stock, (ii) any warrants or options exercisable in respect of its Capital Stock (other than any warrants or options issued to directors, officers or employees of the Corporation
or any of its Subsidiaries pursuant to employee benefit plans established in the ordinary course of business and any Capital Stock of the Corporation issued upon the exercise of such warrants or options) or (iii) any other security or
instrument representing an equity interest (or the right to obtain any equity interest) in the Corporation or any Restricted Subsidiary or (b) the receipt by the Corporation or any Restricted Subsidiary after the Effective Date of any capital
contribution (whether or not evidenced by any equity security issued by the recipient of such contribution); provided that Equity Issuance shall not include (w) any such issuance or sale by any Restricted Subsidiary of the Corporation to the
Corporation or any Subsidiary Guarantor of the Corporation, (x) any capital contribution by the Corporation or any Wholly-Owned Subsidiary of the Corporation to any Subsidiary Guarantor of the Corporation, or (y) any issuance of New
Preferred Stock pursuant to the Hillside Agreement or (z) any such issuance or sale to directors, officers or employees of the Corporation or any Subsidiary of the Corporation pursuant to any benefit plan or arrangement approved by the Board of
Directors of the Corporation. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Excess Cash Flow” means, without duplication, with respect to any Measuring Period, Consolidated EBITDA for such Measuring Period, minus
(a) taxes paid in cash (net of refunds) with respect to such Measuring Period, (b) consolidated Capital Expenditures up to the limit provided in Section 7.05(b) of the Hillside Credit Agreement made in such Measuring Period that are
not financed with the “Loans” under the Hillside Credit Agreement (as such term is defined therein) or other Indebtedness, (c) scheduled and any other required principal payments on Indebtedness paid during such Measuring Period,
(d) cash consolidated interest expense paid by the Corporation during such Measuring Period, (e) reasonable and necessary increases in net working capital during such Measuring Period and (f) actual cash pension plan payments made by
the Corporation during such Measuring Period that are not financed with proceeds of Tranche D Loans under the Hillside Credit Agreement or Preferred Stock issued under the Hillside Agreement; plus (x) decreases in net working capital during
such Measuring Period and (y) pension plan expenses as deducted from revenues in determining Consolidated Net Income for such Measuring Period. 
  

 5 

 “Excess Cash on Hand” means, as of any Measuring Date, the aggregate amount of cash and cash
equivalents held by the members of the Ampex Group and any Foreign Subsidiary (whether or not incorporated) under Common Control with the Corporation as of such Measuring Date in excess of the Excess Cash on Hand Threshold, provided, that for the
purposes of determining the amount of any cash and cash equivalents held by any Foreign Subsidiary, any amounts required to be paid during the Measuring Period ended on such Measuring Date by such Foreign Subsidiary for the purposes of
(i) making any pension plan contributions required in the jurisdiction of incorporation of the Foreign Subsidiary, (ii) meeting the reasonable costs (if any) associated with the repatriation of any cash or cash equivalents to any member of
the Ampex Group; and (iii) funding the ordinary and necessary business needs of such Foreign Subsidiary shall not be included. 
 “Excess Cash on Hand Threshold” means, as of any Measuring Date, $4,000,000 plus a reserve for the aggregate amount of expected pension payments by the Corporation due within six (6) months of such Measuring Date. 

“Existing Indebtedness” means Indebtedness of the Corporation or its Restricted Subsidiaries in existence or incurred pursuant to any loan
or other agreement in effect on the Issue Date plus any premium or interest accrued thereon, as set forth on Schedule B hereto. 
 “Fiscal Year” means the fiscal year of the Corporation and its Subsidiaries for accounting and tax purposes, ending on December 31 of each year. 
 “Foreign Subsidiary” means any Subsidiary organized under the laws of any jurisdiction other than the United States of America or a State thereof which, if such Subsidiary were to become a Subsidiary
Guarantor hereunder, the Corporation pursuant to a resolution of the Board of Directors has determined would result in adverse tax consequences to any of the Corporation or a Subsidiary Guarantor under Section 956 of the Code. 
 “GAAP” means generally accepted accounting principles set forth in the opinions and pronouncements of the Accounting Principles Board of the
American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board or in such other statements by such other entity as have been approved by a significant segment of the accounting
profession, as in effect from time to time. 
 “Guarantee” means any obligation, contingent or otherwise, of any Person
guaranteeing any Indebtedness of any Person (including, without limitation, obligations to purchase assets, securities or services, to take-or-pay or to maintain financial statement conditions or arrangements or agreements entered into for the
purpose of assuring the obligee of such Indebtedness of the payment thereof or to protect such obligee against loss in respect thereof, in whole or in part); provided, however, that the term “Guarantee” shall not include endorsements of
negotiable instruments for collection or deposit in the ordinary course of business, or contingent obligations in connection with the sale or discount of accounts receivable and similar paper. The term “Guarantee” used as a verb has a
corresponding meaning. 
  

 6 

 “Holder” or “Securityholder” means the Person in whose name a Security is registered
on the Registrar’s books. 
 “Hillside” means Hillside Capital Incorporated, a Delaware corporation. 
 “Hillside Agreement” means the Amended and Restated Hillside-Ampex/Sherborne Agreement, dated as of the Effective Date, by and among the
Corporation, Hillside and Sherborne Group Incorporated, a Delaware corporation, and certain Affiliates of such corporations, as in effect on the date hereof or as the same may be amended, supplemented or modified from time to time in accordance with
the terms thereof. 
 “Hillside Credit Agreement” means that certain Credit Agreement, dated as of the Effective Date, by and among
Hillside as lender, the Corporation, as Borrower, and Ampex Data Systems Corporation, Ampex Data International Corporation, Ampex International Sales Corporation and Ampex Finance Corp. as guarantors. 
 “Hillside Documents” means the Hillside Agreement and the Hillside Credit Agreement. 
 “Indebtedness” means, with respect to any Person, without duplication, (i) the principal of and the premium (if any) on all indebtedness
of such Person for money borrowed or which is evidenced by a note, bond, debenture or similar instrument for payment of which such Person is liable, (ii) all obligations of such Person under any conditional sale, title retention or similar
agreement in respect of the deferred or unpaid purchase price of property or services acquired by such Person, (iii) all Capital Lease Obligations of such Person, (iv) all obligations of such Person in respect of letters of credit or
bankers’ acceptance issued or created for the account of such Person, (v) all net obligations of such Person under Interest Rate Agreement Obligations or Currency Agreement Obligations of such Person, (vi) all liabilities of others of
the kind described in the preceding clauses (i), (ii) or (iii) secured by any Lien on any property owned by such Person even though such Person has not assumed or become liable for the payment of such liabilities; provided, however, the
amount of such Indebtedness for purposes of this definition shall be limited to the lesser of the amount of Indebtedness secured by such Lien or the value of the property subject to such Lien, (vii) all Disqualified Stock issued by such Person
and all Preferred Stock issued by a Restricted Subsidiary of such Person, and (viii) to the extent not otherwise included, any Guarantee by such Person of any other Person’s Indebtedness or other obligations described in clauses
(i) through (vii) above. “Indebtedness” of the Corporation and the Restricted Subsidiaries shall not include (i) trade payables incurred in the ordinary course of business, and (ii) contingent obligations incurred in
connection with the sale or discount of accounts receivable and similar paper in the ordinary course of business. The principal amount outstanding of any Indebtedness issued with original issue discount is the accreted value of such Indebtedness and
Indebtedness shall not include any liability for federal, state, local or other taxes. 
 “Indenture” means this Amended and
Restated Indenture, as amended or supplemented from time to time. 
  

 7 

 “Insolvency or Liquidation Proceeding” means: 
 (1) any case commenced by or against the Corporation or any Subsidiary under Title 11 of the U.S. Code or any similar federal or state law for the relief
of debtors, any other proceeding for the reorganization, recapitalization or adjustment or marshalling of the assets or liabilities of the Corporation or any Subsidiary, any receivership or assignment for the benefit of creditors relating to the
Corporation or any Subsidiary or any similar case or proceeding relative to the Corporation or any Subsidiary or its creditors, as such, in each case whether or not voluntary; 
 (2) any liquidation, dissolution, marshalling of assets or liabilities or other winding up of or relating to the Corporation or any Subsidiary, in each
case whether or not voluntary and whether or not involving bankruptcy or insolvency; or 
 (3) any other proceeding of any type or nature in
which substantially all claims of creditors of the Corporation or any Subsidiary are determined and any payment or distribution is or may be made on account of such claims. 
 “Intercreditor Agreement” means that certain Intercreditor Agreement, by and among the Collateral Agent, Hillside, as Second Lien Claimholder,
U.S. Bank National Association, as Trustee on behalf of the Securityholders as First Lien Claimholders and the Corporation, dated as of the Effective Date, as the same may be amended, supplemented or modified from time to time in accordance with the
terms thereof and hereof. 
 “Interest Rate Agreement Obligations” means, with respect to any Person, the Obligations of such
Person under (i) interest rate swap agreements, interest rate cap agreements and interest rate collar agreements, and (ii) other agreements or arrangements designed to protect such Person against fluctuations in interest rates. 

“Investment” in any Person means any direct or indirect advance, loan or other extension of credit (including, without limitation, by way of
Guarantee or similar arrangement but excluding advances to customers and employees in the ordinary course of business that are recorded as accounts receivable on the balance sheet of the lender) to, capital contribution (by means of any transfer of
cash or other property to others or any payment for property or services for the account or use of others) to, or any purchase or acquisition of capital stock, Indebtedness or other similar instruments issued by, such Person and shall include the
designation of a Restricted Subsidiary as an Unrestricted Subsidiary. 
 “Issue Date” means the date on which the Securities are
first issued under the Indenture. 
 “Lien” means, with respect to any asset, any mortgage, lien, pledge, charge, security interest
or encumbrance of any kind in respect of such asset, whether or not filed, recorded or otherwise perfected under applicable law (including any conditional sale or other title retention agreement, any lease in the nature thereof, any option or other
agreement to sell or give a security interest in any asset and any filing of, or agreement to give, any financing statement under the Uniform Commercial Code (or equivalent statutes) of any jurisdiction). 
  

 8 

 “Material Adverse Effect” means a material adverse effect on (a) the business, assets,
operations, prospects or condition, financial or otherwise, of the Corporation and its Subsidiaries taken as a whole, (b) the ability of the Corporation or any Subsidiary Guarantor to perform any of its obligations under this Indenture or the
Security Agreement or (c) the rights of or benefits available to the Holders under this Indenture or the Security Agreement, provided, however, it is acknowledged and agreed that for so long as the Corporation and the Subsidiary Guarantors
are contesting the Unresolved Governmental Claims in good faith using best efforts, the existence of the Unresolved Governmental Claims and proceedings related thereto shall not be deemed to create such material adverse effect. It is hereto further
acknowledged and agreed that if the Corporation or any Subsidiary Guarantor is not, at all times, contesting the Unresolved Governmental Claims in good faith using best efforts, the proviso in the preceding sentence shall not constitute a
waiver of any Default or Event of Default that may arise from (i) failure to pay any Taxes that are the subject of the Unresolved Governmental Claims when due, or (ii) the filing of a Lien for non-payment of such Taxes, in either case, in
violation of the Indenture. Notwithstanding the foregoing, so long as the Securities are outstanding, the Corporation and its Subsidiaries shall in no event pay more than $700,000 in the aggregate in respect of the Unresolved Governmental
Claims. 
 “Material Indebtedness” means Indebtedness of the Corporation under this Indenture and the Hillside Documents.

 “Maturity Date” means October 3, 2009. 
 “Measuring Date” means the last day of a Measuring Period. 
 “Measuring Period” means
each fiscal year of the Corporation (ending December 31 of each calendar year), provided that the initial Measuring Period shall begin on the date of this Indenture and end on December 31, 2008. 
 “Net Available Cash” means, with respect to any Asset Sale by any Person, the aggregate cash or Cash Equivalent proceeds received by such
Person (including any cash payments received by way of deferred payment pursuant to, or monetization of, a note or installment receivable or otherwise, but only as and when received) in connection with such Asset Sale, net of (i) the amount of
any Indebtedness (including Disqualified Stock or Preferred Stock of a Subsidiary) to the extent required to be repaid by such Person or its Affiliates in connection with such Asset Sale to obtain the release of a Lien securing such Indebtedness
which has priority over the Lien securing the Securities, plus (ii) all fees, commissions and other expenses incurred (including without limitation, the fees and expenses of legal counsel and investment banking, accounting, underwriting and
brokerage fees and expenses) by such Person in connection with such Asset Sale, (iii) provision for taxes, including income taxes, attributable to the Asset Sale or attributable to required prepayments or repayments of Indebtedness with the
proceeds of such Asset Sale, (iv) any amounts reasonably provided by the Corporation or any Restricted Subsidiary of the Corporation as a reserve in accordance with GAAP against any liabilities associated with such Asset Sale until such time as
such reserve is no longer necessary (at which time any remaining amounts will become Net Available Cash to be allocated in accordance with Section 5.05), including, without limitation, pension and other post-employment benefit liabilities,
liabilities related to environmental matters and liabilities under any indemnification obligations associated with such Asset Sale, and (v) any dividends or distributions or other amounts payable to holders of minority interests in a Restricted
Subsidiary or other entity as a result of such Asset Sale. 
  

 9 

 “Net Proceeds,” with respect to any issuance or sale of Capital Stock, means the proceeds, in
cash, securities or property (with any securities or property valued at fair market value), of the issuance or sale net of attorneys’ fees, accountants’ fees, underwriters’ or placement agents’ fees, discounts or commissions and
brokerage, consultant and other out of pocket fees and expenses incurred in connection with such issuance or sale and net of taxes paid or payable as a result of such issuance or sale. 
 “New Preferred Stock” means the shares of the Corporation’s 16% Cumulative Preferred Stock. 
 “Obligations” means any principal, interest, (including, to the extent legally permitted, all interest accrued thereon after the commencement
of any Insolvency or Liquidation Proceeding at the rate, including any applicable post-default rate, even if such interest is not enforceable, allowable or allowed as a claim in such proceeding), penalties, fees, indemnifications, reimbursement
obligations, damages and other liabilities payable under the documentation governing any Indebtedness. 
 “Officer” means the
Chairman of the Board, the President, the Executive Vice President, any Senior Vice President, any Vice President, the Treasurer or the Secretary of the Corporation. 
 “Officers’ Certificate” means a certificate signed by two Officers or by an Officer and an Assistant Treasurer or Assistant Secretary of the Corporation. 
 “Opinion of Counsel” means a written opinion from legal counsel who is acceptable to the Trustee. The counsel may be an employee of or counsel
to the Corporation or the Trustee. 
 “Permitted Business” means the lines of business conducted by the Corporation and its
Subsidiaries on the date of this Indenture and any businesses similar, incidental or ancillary thereto or that constitutes a reasonable extension or expansion thereof. 
 “Permitted Holders” means Hillside and its Affiliates. 
 “Permitted Investments” means:

 (a) direct obligations of, or obligations the principal of and interest on which are unconditionally guaranteed by, the United States of
America (or by any agency thereof to the extent such obligations are backed by the full faith and credit of the United States of America), in each case maturing within one year from the date of acquisition thereof; 
 (b) investments in commercial paper maturing within 270 days from the date of acquisition thereof and having, at such date of acquisition, the highest
credit rating obtainable from Standard & Poor’s Ratings Services (“S&P”) or from Moody’s Investors Services, Inc. (“Moody’s”); 
  

 10 

 (c) investments in certificates of deposit, banker’s acceptances and time deposits maturing within
180 days from the date of acquisition thereof issued or guaranteed by or placed with, and money market deposit accounts issued or offered by, any domestic office of any commercial bank organized under the laws of the United States of America or any
State thereof which has a combined capital and surplus and undivided profits of not less than $500,000,000; 
 (d) fully collateralized
repurchase agreements with a term of not more than 30 days for securities described in clause (a) of this definition and entered into with a financial institution satisfying the criteria described in clause (c) of this definition; and

 (e) money market funds that (i) comply with the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the
Investment Company Act of 1940, (ii) are rated “AAA” by S&P and “Aaa” by Moody’s and (iii) have portfolio assets of at least $5,000,000,000. 
 “Permitted Liens” means, with respect to any Person: 
 (1) pledges or deposits by such Person under worker’s compensation laws, unemployment insurance laws or similar legislation, or good faith deposits in connection with bids, tenders, contracts (other than for the
payment of Indebtedness) or leases to which such Person is a party, or deposits to secure public or statutory obligations of such Person or deposits of cash or United States government bonds to secure surety or appeal bonds to which such Person is a
party, or deposits as security for contested taxes or import duties or for the payment of rent, in each case Incurred in the ordinary course of business; 
 (2) Liens imposed by law, such as carriers’, warehousemen’s and mechanics’ Liens, in each case for sums not yet due or being contested in good faith by appropriate proceedings and for which adequate
reserves have been taken in accordance with GAAP or other Liens arising out of judgments or awards against such Person with respect to which such Person shall then be proceeding with an appeal or other proceedings for review and Liens arising solely
by virtue of any statutory or common law provision relating to banker’s Liens, rights of set-off or similar rights and remedies as to deposit accounts or other funds maintained with a creditor depository institution; provided, however, that
(A) such deposit account is not a dedicated cash collateral account and is not subject to restrictions against access by the Corporation in excess of those set forth by regulations promulgated by the Federal Reserve Board and (B) such
deposit account is not intended by the Corporation or any Restricted Subsidiary to provide collateral to the depository institution; 
 (3)
Liens for property taxes not yet subject to penalties for non-payment or which are being contested in good faith by appropriate proceedings and for which adequate reserves have been taken in accordance with GAAP; 
 (4) Liens in favor of issuers of surety bonds or letters of credit issued pursuant to the request of and for the account of such Person in the ordinary
course of its business; provided, however, that such letters of credit do not constitute Indebtedness; 
  

 11 

 (5) minor survey exceptions, minor encumbrances, easements or reservations of, or rights of others for,
licenses, rights-of-way, ingress, egress, parking, sewers, electric lines, telegraph and telephone lines and other similar purposes, or zoning or other similar restrictions as to the use of real property or Liens incidental to the conduct of the
business of such Person or to the ownership by such person of its properties which were not Incurred in connection with Indebtedness and which do not in the aggregate materially adversely affect the value of said properties or materially impair
their use in the operation of the business of such Person; 
 (6) Liens securing any Purchase Money Obligations permitted under
Section 5.03(h); provided, however, that the Lien may not extend to any other property owned by such Person or any of its Restricted Subsidiaries at the time the Lien securing such Purchase Money Obligations is Incurred; 
 (7) Liens under the Security Agreement; 
 (8) Liens existing on the Issue Date and described on Schedule C; 
 (9) Liens on property or shares of Capital Stock of another
Person at the time such other Person becomes a Subsidiary of such Person; provided, however, that the Liens may not extend to any other property owned by such Person or any of its Restricted Subsidiaries and may not be incurred in anticipation of,
or in connection with, such acquisition; 
 (10) Liens on property at the time such Person or any of its Subsidiaries acquires the property,
including any acquisition by means of a merger or consolidation with or into such Person or a Subsidiary of such Person; provided, however, that the Liens may not extend to any other property owned by such Person or any of its Restricted
Subsidiaries and may not be incurred in anticipation of, or in connection with, such acquisition; 
 (11) Liens securing Interest Rate
Agreement Obligations and Currency Agreement Obligations that relate to Indebtedness that is permitted under this Indenture, and secured by a Lien on the same property securing such Interest Rate Agreement Obligations or Currency Agreement
Obligations; and 
 (12) Liens to secure any Refinancing Indebtedness (or successive Refinancing Indebtedness) as a whole, or in part, of any
Indebtedness secured by any Lien referred to in the foregoing clause (6), (8), (9) or (10); provided, however, that (A) such new Lien shall be limited to all or part of the same property and assets that secured or, under the written
agreements pursuant to which the original Lien arose, could secure the original Lien and (B) the Indebtedness secured by such Lien at such time is not increased to any amount greater than the sum of (i) the outstanding principal amount or,
if greater, committed amount of the Indebtedness described under clause (6), (8), (9) or (10) at the time of such refinancing and (ii) an amount necessary to pay any fees and expenses, including premiums, related to such refinancing,
refunding, extension, renewal or replacement. 
 “Person” means any individual, corporation, partnership, joint venture,
association, joint-stock corporation, limited liability corporation, trust, unincorporated organization or government or any agency or political subdivision thereof. 
 “Plan of Reorganization” has the meaning set forth in the recitals. 
  

 12 

 “Preferred Stock” as applied to the Capital Stock of any Person means Capital Stock of any
class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Capital Stock of any
other class of such Person. 
 “Principal” of a Security means the principal of the Security plus the premium, if any, payable on
the Security in connection with the transaction in question. 
 “Purchase Money Obligation” means any Indebtedness secured by a
Lien on assets related to the business of the Corporation or the Restricted Subsidiaries, and any additions and accessions thereto, which are purchased or constructed by the Corporation or any Restricted Subsidiary at any time after the Issue Date;
provided that (i) any security agreement or conditional sales or other title retention contract pursuant to which the Lien on such assets is created shall be entered into within 180 days after the purchase or substantial completion of the
construction of such assets and shall at all times be confined solely to the assets so purchased or acquired, any additions and accessions thereto and any proceeds therefrom, (ii) at no time shall the aggregate principal amount of the
outstanding Indebtedness secured thereby be increased, except in connection with the purchase of additions and accessions thereto and except in respect of fees and other obligations in respect of such Indebtedness and (iii)(A) the aggregate
outstanding principal amount of Indebtedness secured thereby (determined on a per asset basis in the case of any additions and accessions) shall not at the time such security agreement is entered into exceed 100% of the purchase or construction
price to the Corporation or any Restricted Subsidiary of the assets subject thereto or (B) the Indebtedness secured thereby shall be with recourse solely to the assets so purchased, constructed or acquired, any additions and accessions thereto
and any proceeds therefrom. 
 “Record Date” means the 1st day of March, June, September or December immediately preceding a
payment date specified in the Securities. 
 “Restricted Investment” means an Investment by the Corporation or a Restricted
Subsidiary in any Subsidiary other than a Restricted Subsidiary. 
 “Restricted Payment” means (i) any dividend or other
distribution declared or paid on any Capital Stock of the Corporation (other than dividends or distributions payable solely in Capital Stock (other than Disqualified Stock) of the Corporation or dividends or distributions payable to the Corporation
or any Restricted Subsidiary and other than pro rata dividends or other distributions made by a Restricted Subsidiary that is not a Wholly Owned Subsidiary to minority stockholders (or owners of an equivalent interest in the case of a Subsidiary
that is not a corporation)); (ii) any payment to purchase, redeem or otherwise acquire or retire for value any Capital Stock of the Corporation; (iii) any voluntary or optional payment to purchase, redeem, defease or otherwise acquire or
retire for value any Indebtedness that is subordinated in right of payment to the Securities other than a purchase, redemption, defeasance or other acquisition or retirement for value that is paid for with the proceeds of Refinancing Indebtedness
that is permitted under Section 5.03 of this Indenture; or (iv) any Restricted Investment. 
  

 13 

 “Restricted Subsidiary” means each direct or indirect Subsidiary of the Corporation other than
an Unrestricted Subsidiary. 
 “Securities” means the Securities issued under this Indenture. 
 “Securities Act” means the Securities Act of 1933, as amended. 
 “Security Agreement” means the Security Agreement, dated as of the date of this Indenture, by and among the Corporation, the Grantors (as defined therein) and the Collateral Agent as the same may be amended,
supplemented or modified from time to time in accordance with the terms thereof and hereof. 
 “Stated Maturity” means, with
respect to any installment of interest or principal on any series of Indebtedness, the date on which the payment of interest or principal was scheduled to be paid in the documentation governing such Indebtedness as of the date of this Indenture, and
will not include any contingent obligations to repay, redeem or repurchase any such interest or principal prior to the date originally scheduled for the payment thereof. 
 “Subordinated Indebtedness” means Indebtedness (including, without limitation, secured Indebtedness) of the Corporation or a Restricted Subsidiary which by its express terms is subordinated or junior in
right of payment to the Securities. 
 “Subsidiary” of a Person means (i) any corporation more than 50% of the outstanding
voting power of the Voting Stock of which is owned or controlled, directly or indirectly, by such Person or by one or more other Subsidiaries of such Person, or by such Person and one or more other Subsidiaries thereof, or (ii) any limited
partnership of which such Person or any Subsidiary of such Person is a general partner, or (iii) any other Person (other than a corporation or limited partnership) in which such Person, or one or more other Subsidiaries of such Person, or such
Person and one or more other Subsidiaries thereof, directly or indirectly, has more than 50% of the outstanding partnership or similar interests or has the power, by contract or otherwise, to direct or cause the direction of the policies, management
and affairs thereof. 
 “Subsidiary Guarantee” means a Guarantee by a Subsidiary Guarantor of the Corporation’s obligations
with respect to the Securities. 
 “Subsidiary Guarantor” means each of: 
 (1) the Corporation’s Domestic Subsidiaries on the date of this Indenture; and 
 (2) any other subsidiary of the Corporation that executes a Subsidiary Guarantee in accordance with the provisions of this Indenture; and their
respective successors and assigns. 
 “TIA” means the Trust Indenture Act of 1939 (15 U.S.C.ss.ss.77aaa-77bbbb) as in effect on the
date of this Indenture. 
  

 14 

 “Trustee” means the party named as such in this Indenture until a successor replaces it and,
thereafter, means the successor. 
 “Trust Officer” means any officer or assistant officer of the Trustee in its Corporate Trust
Department or with respect to a particular matter, any officer of the Trustee to whom such matter is referred because of such officer’s knowledge and familiarity with the particular subject. 
 “Uniform Commercial Code” means the New York Uniform Commercial Code as in effect from time to time. 
 “Unresolved Governmental Claims” means collectively, the California Tax Claims and that certain proof of claim number 593 filed on
September 26, 2008 by the U.S. Customs and Border Protection in an unliquidated amount. 
 “U.S. Government Obligations” means
direct obligations (or certificates representing an ownership interest in such obligations) of the United States of America for the payment of which the full faith and credit of the United States of America is pledged and which are not callable at
the issuer’s option. 
 “Unrestricted Subsidiary” means any Subsidiary of the Corporation designated as such pursuant to and
in compliance with the provisions of Section 5.09 of this Indenture. Any such designation may be revoked by a resolution of the Board of Directors delivered to the Trustee, subject to the provisions of such covenant. 
 “Voting Stock” of a Person means all classes of Capital Stock of such Person then outstanding as to which the holders thereof are entitled
under ordinary circumstances (without regard to the occurrence of any contingency) to vote in the election of directors, managers or trustees of such Person. 
 “Wholly Owned Subsidiary” means any Subsidiary with respect to which all of the outstanding Voting Stock (other than directors’ qualifying shares) of which are owned, directly or indirectly, by the
Corporation. 
 SECTION 1.02 Other Definitions 
  

			
	 Term
	  	 Defined in Section

	“Acquired Person”	  	SECTION 5.03
	“Agent Members”	  	SECTION 2.08
	“Bankruptcy Law”	  	SECTION 7.01
	“covenant defeasance”	  	SECTION 9.01
	“Custodian”	  	SECTION 7.01
	“Designation”	  	SECTION 5.09
	“Event of Default”	  	SECTION 7.01
	“Global Security”	  	SECTION 2.01
	“Guaranteed Obligations”	  	SECTION 12.01
	“Incur”	  	SECTION 5.03
	“Legal Holiday”	  	SECTION 5.038

  

 15 

			
	“Paying Agent”	  	SECTION 2.03
	“Permitted Payments”	  	SECTION 5.04
	“Physical Securities”	  	SECTION 2.01
	“refinancing”	  	SECTION 5.03
	“Refinancing Indebtedness”	  	SECTION 5.03
	“Registrar”	  	SECTION 2.03

 SECTION 1.03 Incorporation by Reference of Trust Indenture Act. The Securities and the
Indenture are not qualified under the TIA and the terms of the Securities will include only those provisions of the TIA made part of the Indenture by express reference to the TIA. The following TIA terms used in this Indenture have the following
meanings: 
 “Commission” means the SEC. 
 “indenture securities” means the Securities and the Subsidiary Guarantees. 
 “indenture
security holder” means a Securityholder. 
 “indenture to be qualified” means this Indenture. 
 “indenture trustee” or “institutional trustee” means the Trustee. 
 “obligor” on the indenture securities means the Corporation, each Subsidiary Guarantor and any other obligor on the Securities. 
 All other TIA terms used in this Indenture that are defined by the TIA, defined by TIA reference to another statute or defined by SEC rule have the
meanings assigned to them by such definitions. 
 SECTION 1.04 Rules of Construction. Unless the context otherwise requires:

 (1) an accounting term not otherwise defined has the meaning assigned to it in accordance with GAAP as in effect on the Issue Date;

 (2) “or” is not exclusive; 
 (3) “including” means including, without limitation; and 
 (4) words in the singular include the plural and words in the
plural include the singular. 
  

 16 

 ARTICLE 2 
 The Securities 
 SECTION 2.01 Form and Dating. The Securities and the Trustee’s
certificate of authentication relating thereto shall be substantially in the form of Exhibit A hereto. The Securities may have notations, legends or endorsements required by law, stock exchange rule or depository rule or usage. The Corporation shall
approve the form of the Securities and any notation, legend or endorsement on them. Each Security shall be dated the date of its authentication and shall show the date of its authentication. 
 The additional terms and provisions contained in the forms of Securities annexed hereto as Exhibit A shall constitute, and are hereby expressly made, a
part of this Indenture and, to the extent applicable, the Corporation and the Trustee, by their execution and delivery of this Indenture, expressly agree to such terms and provisions and to be bound thereby. 
 Securities shall be issued initially in the form of one or more global Securities in registered form, substantially in the form set forth in Exhibit A
(the “Global Security”), deposited with the Trustee, as custodian for the Depository, duly executed by the Corporation and authenticated by the Trustee as hereinafter provided and shall bear the legend set forth in Section 2.07
hereof. The aggregate principal amount of the Global Security may from time to time be increased or decreased by adjustments made on the records of the Trustee, as custodian for the Depository. 
 Securities may be issued, in the form of certificated Securities in registered form, in substantially the form set forth in Exhibit A (the “Physical
Securities”). The Physical Securities are sometimes collectively herein referred to as the “Physical Securities.” Physical Securities may initially be registered in the name of the Depository or a nominee of such Depository and be
delivered to such Depository. Beneficial owners of Physical Securities, however, may request registration of such Physical Securities in their names or the names of their nominees. 
 SECTION 2.02 Execution and Authentication. Two Officers shall sign the Securities for the Corporation by manual or facsimile signature. The
Corporation’s seal shall be impressed, affixed, imprinted or reproduced on the Securities and may be in facsimile form. 
 If an Officer
whose signature is on a Security no longer holds that office at the time the Trustee authenticates the Security, the Security shall be valid nevertheless. 
 A Security shall not be valid until an authorized signatory of the Trustee manually signs the certificate of authentication on the Security. The signature shall be conclusive evidence that the Security has been
authenticated under this Indenture. 
 On the Issue Date, pursuant to an authentication order from the Corporation, the Trustee shall
authenticate and deliver Securities for original issue in an aggregate principal amount of $3,658,080. Subject to applicable law and Section 2.10 and 2.14 the aggregate principal amount of Securities which may be authenticated and delivered
under this Indenture is $3,658,080. The aggregate principal amount of Securities outstanding at any time may not exceed that amount except as provided in Sections 2.12 and 2.14. 
 The Securities shall be issuable only in registered form and only in minimum denominations of $1 principal amount and any integral multiple thereof.

  

 17 

 The Trustee may appoint an authenticating agent reasonably acceptable to the Corporation to authenticate
Securities. Unless limited by the terms of such appointment, an authenticating agent may authenticate Securities whenever the Trustee may do so. Each reference in this Indenture to authentication by the Trustee includes authentication by such agent.
An authenticating agent has the same rights as any Registrar, Paying Agent or agent for service of notices and demands. 
 SECTION 2.03
Registrar and Paying Agent. The Corporation shall maintain an office or agency where Securities may be presented for registration of transfer or for exchange (“Registrar”) and an office or agency where Securities may be presented
for payment (“Paying Agent”). The Registrar shall keep a register of the Securities and of their transfer and exchange. The Corporation may have one or more co-registrars and one or more additional paying agents. The term “Paying
Agent” includes any additional paying agent. 
 The Corporation shall enter into an appropriate agency agreement with any Registrar,
Paying Agent or co-registrar not a party to this Indenture, which agreement shall incorporate the provisions of the TIA to the extent they are otherwise expressly incorporated herein and implement the provisions of this Indenture that relate to such
agent. The Corporation shall notify the Trustee in writing of the name and address of any such agent. If the Corporation fails to maintain a Registrar or Paying Agent, the Trustee shall act as such, and shall be entitled to appropriate compensation
in accordance with Section 8.07. The Corporation or any Subsidiary or Affiliate may act as Paying Agent, Registrar, co-registrar or transfer agent. 
 The Corporation initially appoints the Trustee, at its corporate Trust Office, as Registrar and Paying Agent in connection with the Securities. 
 SECTION 2.04 Paying Agent To Hold Money in Trust. On or prior to each due date of the principal and interest on any Security, the Corporation
shall deposit with the Paying Agent a sum in immediately available funds sufficient to pay such principal and interest when due. The Corporation shall require each Paying Agent (other than the Trustee) to agree in writing that the Paying Agent shall
hold in trust for the benefit of Securityholders or the Trustee all money held by the Paying Agent for the payment of principal of or interest on the Securities and shall notify the Trustee of any Default by the Corporation in making any such
payment. If the Corporation or a Subsidiary acts as Paying Agent, it shall segregate the money held by it as Paying Agent and hold it as a separate trust fund. The Corporation at any time may require a Paying Agent to pay all money held by it to the
Trustee and to account for any funds disbursed by it. Upon making such payment, the Paying Agent (other than the Corporation) shall have no further liability for the money delivered to the Trustee. 
 SECTION 2.05 Securityholder Lists. The Trustee shall preserve in as current a form as is reasonably practicable the most recent list available to
it of the names and addresses of Securityholders. If the Trustee is not the Registrar, the Corporation shall furnish to the Trustee at least five Business Days before each payment date and at such other times as the Trustee may request in writing a
list in such form and as of such date as the Trustee may reasonably require of the names and addresses of Securityholders, and the Trustee may conclusively rely on any such list so provided. 
  

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 SECTION 2.06 Transfer and Exchange. When a Security is presented to the Registrar or a
co-registrar with a request to register a transfer, the Registrar shall register the transfer as requested if duly endorsed for transfer or accompanied by a written instrument of transfer in form acceptable to the Registrar, by the Holder. The
Registrar may require the assurances set forth in Section 8-402 of the Uniform Commercial Code that any endorsement is genuine and effective. When Securities are presented to the Registrar or a co-registrar with a request to exchange them for
an equal principal amount of Securities of other denominations, the Registrar shall make the exchange as requested if the same requirements are met. To permit registration of transfers and exchanges, the Corporation shall execute and the Trustee
shall authenticate Securities at the Registrar’s or co-registrar’s request. The Corporation may require payment of a sum sufficient to pay all taxes, assessments or other governmental charges. The Corporation shall not be required to make
and the Registrar need not register transfers or exchanges of Securities selected for redemption (except, in the case of Securities to be redeemed in part, the portion thereof not to be redeemed) or for a period of 15 days before a selection of
Securities to be redeemed or 15 days before a payment date. 
 Prior to the due presentation for registration of transfer of any Security,
the Corporation, the Trustee, the Paying Agent, the Registrar or any co-registrar may deem and treat the person in whose name a Security is registered as the absolute owner of such Security for the purpose of receiving payment of principal of and
interest on such Security and for all other purposes whatsoever, whether or not such Security is overdue, and none of the Corporation, the Trustee, the Paying Agent, the Registrar or any co-registrar shall be affected by notice to the contrary.
Furthermore, any Holder of a Global Security shall, by acceptance of such Global Security, agree that transfers of beneficial interests in such Global Security may be effected only through a book-entry system maintained by the Depository (or its
agent) and that ownership of a beneficial interest in the Global Security shall be required to be reflected in a book entry. 
 SECTION 2.07
Restrictive Legends. Each Global Security shall also bear a legend on the face thereof in substantially the following form: 
 UNLESS
AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A NOMINEE OF THE DEPOSITORY, OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR
DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF
TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH
OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST
HEREIN. 
  

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 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF
CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTIONS 2.08 and 2.09 OF THE
INDENTURE. 
 SECTION 2.08 Book Entry Provisions for Global Securities. This Section 2.08 shall apply only to the Global Security
deposited with the Depository or its custodian. 
 (1) So long as the Securities are eligible for book-entry settlement with the Depository,
or unless otherwise required by law, the Global Security initially shall (i) be registered in the name of the Depository or the nominee of such Depository, (ii) be delivered to the Trustee as custodian for such Depository and
(iii) bear legends as set forth in Section 2.07. 
 Members of, or participants in, the Depository (“Agent Members”)
shall have no rights under this Indenture with respect to any Global Security held on their behalf by the Depository, or the Trustee as its custodian, or under the Global Security, and the Depository may be treated by the Corporation, the Trustee
and any agent of the Corporation or the Trustee as the absolute owner of the Global Security for all purposes whatsoever. Notwithstanding the foregoing, nothing herein shall prevent the Corporation, the Trustee or any Agent of the Corporation or the
Trustee from giving effect to any written certification, proxy or other authorization furnished by the Depository or impair, as between the Depository and its Agent Members, the operation of customary practices governing the exercise of the rights
of a holder of any Security. 
 (2) Transfers of the Global Security shall be limited to transfers in whole, but, subject to the immediately
succeeding sentence, not in part, to the Depository, its successors or their respective nominees. Interests of beneficial owners in the Global Security may be transferred or exchanged for Physical Securities in accordance with the rules and
procedures of the Depository and the provisions of Section 2.09 hereof. In addition, Physical Securities shall be transferred to all beneficial owners in exchange for their beneficial interests in the Global Security if (i) the Depository
notifies the Corporation that it is unwilling or unable to continue as Depository for the Global Security and a successor depositary is not appointed by the Corporation within 90 days of such notice or (ii) an Event of Default has occurred and
is continuing and the Registrar has received a written request from the Depository to issue Physical Securities. 
 (3) In connection with
any transfer or exchange of a portion of the beneficial interest in the Global Security to beneficial owners pursuant to paragraph (2), the Registrar shall (if one or more Physical Securities are to be issued) reflect on its books and records the
date and a decrease in the principal amount of the Global Security in an amount equal to the principal amount of the beneficial interest in the Global Security to be transferred, and the Corporation shall execute, and the Trustee shall authenticate
and deliver, one or more Physical Securities of like tenor and amount. 
  

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 (4) In connection with the transfer of the beneficial interests in the entire Global Security to
beneficial owners pursuant to paragraph (2), the Global Security shall be deemed to be surrendered to the Trustee for cancellation, and the Corporation shall execute, and the Trustee shall, authenticate and deliver to each beneficial owner
identified by the Depository in exchange for its beneficial interest in the Global Security, an equal aggregate principal amount of Physical Securities of authorized denominations. 
 (5) The owner of a beneficial interest in the Global Security may grant proxies and otherwise authorize any person, including Agent Members and persons
that may hold interests through Agent Members, to take any action which a Holder is entitled to take under this Indenture or the Securities. 
 (6) Neither the Registrar nor the Trustee shall be obligated or required to receive any certificate, opinion or other information evidencing or relating to compliance with any federal or state securities laws that may be applicable in
connection with any transfer or exchange of interests in or to any Security. 
 SECTION 2.09 Special Transfer Provisions. 

(1) Intentionally Omitted. 
 (2) The
following provisions shall apply with respect to the registration of any proposed transfer of a Security: 
 (a) If the
proposed transferor is an Agent Member holding a beneficial interest in the Global Security, upon receipt by the Registrar of written instructions (which shall include registration and delivery instructions as may be required by the Registrar or
Trustee) given in accordance with the Depository’s and the Registrar’s procedures, (i) the Registrar shall reflect on its books and records the date and if the transfer does not involve a transfer of outstanding Physical Securities) a
decrease in the principal amount of the Global Security in an amount equal to the principal amount of the beneficial interest in the Global Security to be transferred, and (ii) the Corporation shall execute and the Trustee shall authenticate
and deliver one or more Physical Securities of like tenor and amount. 
 (b) If the proposed transferee is an Agent Member
(and the Securities to be transferred consist of Physical Securities which after transfer are to be evidenced by an interest in the Global Security), upon receipt by the Registrar of written instructions given in accordance with the
Depository’s and the Security Registrar’s procedures, and surrender of the Physical Securities to be transferred, duly endorsed or accompanied by a written instrument of transfer in form acceptable to the Registrar or Trustee, (i) the
Registrar shall reflect on its books and records the date and an increase in the principal amount of the Global Security in an amount equal to the principal amount of the Physical Securities to be transferred, and (ii) the Trustee shall cancel
the Physical Securities so transferred. 
  

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 The Registrar shall retain copies of all letters, notices and other written communications received
pursuant to Section 2.08 hereof or this Section 2.09. The Corporation shall have the right to inspect and make copies of all such letters, notices or other written communications at any reasonable time during the Registrar’s normal
business hours upon the giving of reasonable written notice to the Registrar. 
 In connection with any transfer of the Securities, the
Trustee, the Registrar and the Corporation shall be entitled to receive, shall be under no duty to inquire into, may conclusively presume the correctness of, and shall be fully protected in relying upon any certificates, opinions and other
information referred to herein or otherwise (or in any forms provided herein, attached hereto or to the Securities, or otherwise) received from any Holder and any transferee of any Security regarding the validity, legality and due authorization of
any such transfer, the eligibility of the transferee to receive such Security and any other facts and circumstances related to such transfer. 
 SECTION 2.10 Replacement Securities. If a mutilated Security is surrendered to the Registrar or if the Holder of a Security claims that the Security has been lost, destroyed or wrongfully taken, the Corporation shall issue and the
Trustee shall authenticate a replacement Security if the requirements of Section 8-405 of the Uniform Commercial Code are met and the Holder satisfies any other reasonable requirements of the Trustee. If required by the Trustee or the
Corporation, such Holder shall furnish an indemnity bond sufficient in the judgment of the Corporation and the Trustee to protect the Corporation, the Trustee, the Paying Agent, the Registrar and any co-registrar from any loss which any of them may
suffer if a Security is replaced. The Corporation and the Trustee may charge the Holder for their expenses in replacing a Security. 
 Every
replacement Security is an additional obligation of the Corporation. 
 SECTION 2.11 Outstanding Securities. Securities outstanding at
any time are all Securities authenticated by the Trustee except for those canceled by it and those delivered to it for cancellation and those described in this Section as not outstanding. A Security does not cease to be outstanding because the
Corporation or an Affiliate of the Corporation holds the Security. 
 If a Security is replaced pursuant to Section 2.10, it ceases to
be outstanding unless the Trustee and the Corporation receive proof satisfactory to them that the replaced Security is held by a bona fide purchaser. 
 If the Paying Agent (other than the Corporation or a Subsidiary) holds in trust, in accordance with this Indenture, on a redemption date or maturity date money sufficient to pay all amounts payable on that date with
respect to the Securities (or portions thereof) and is not prohibited from paying such money to the Holders thereof pursuant to the terms of this Indenture, then on and after that date such Securities (or portions thereof) cease to be outstanding
and interest on them ceases to accrue. 
 If a Security is called for redemption or if it matures in less than a year and if the Corporation
has satisfied its obligation to pay the Security in accordance with Article 9 of this Indenture, the Corporation and the Trustee need not treat the Security as outstanding in determining whether Holders of the required principal amount of Securities
have concurred in any direction, waiver or consent. 
  

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 SECTION 2.12 Temporary Securities. Until definitive Securities are ready for delivery, the
Corporation may prepare and the Trustee shall authenticate temporary Securities. Temporary Securities shall be substantially in the form of definitive Securities but may have variations that the Corporation considers appropriate for temporary
Securities. Without unreasonable delay, the Corporation shall prepare and the Trustee, upon receipt of the Corporation’s written order signed by two Officers which shall specify the amount of definitive Securities to be authenticated, and the
date thereof, shall authenticate definitive Securities and deliver them in exchange for temporary Securities. 
 SECTION 2.13
Cancellation. The Corporation at any time may deliver Securities to the Trustee for cancellation. The Registrar and the Paying Agent shall forward to the Trustee any Securities surrendered to them for transfer, exchange or payment. The
Trustee and no one else shall cancel and destroy (subject to the record retention requirements of the Exchange Act) all Securities surrendered for transfer, exchange, payment or cancellation and deliver a certificate of such destruction to the
Corporation unless the Corporation directs the Trustee to deliver canceled Securities to the Corporation. The Corporation may not issue new Securities to replace Securities it has redeemed, paid or delivered to the Trustee for cancellation.

 SECTION 2.14 Additional Securities. There shall be no additional Securities issued pursuant to this Indenture unless approved by
the Holders in accordance with Section 10.02. Any additional Securities so issued shall be governed by and entitled to the benefits of this Indenture and the Security Agreement, shall be issued in substantially the form of Exhibit A hereto, and
shall be subject to the same terms (including the rate of interest) as the Securities originally issued hereunder, except, as the case may be, with respect to the issue date, the principal amount and the payment of interest scheduled to be paid
prior to or on the date of issuance of such additional Securities. 
 SECTION 2.15 Defaulted Interest. If the Corporation defaults in
a payment when due of interest on the Securities, it shall pay the defaulted interest (plus, to the extent permitted by applicable law, interest on such defaulted interest at the rate borne by the Securities plus 1%) in any lawful manner to the
persons who are Securityholders on a subsequent special record date, which date shall be at least five business days prior to the special payment date. The Corporation shall fix the special record date and special payment date, and the Corporation,
or the Trustee in the name of and at the expense of the Corporation, shall promptly mail to each Securityholder a notice that states the special record date, the special payment date and the amount of defaulted interest to be paid at least 10 days
before the special record date. 
 SECTION 2.16 CUSIP Numbers. The Corporation in issuing the Securities may use “CUSIP”
numbers (if then generally in use) and, if so, the Trustee shall use “CUSIP” numbers in notices of redemption or notices of optional prepayment, as the case may be, as a convenience to Holders; provided, however, that any such notice may
state that no representation is made as to the correctness of such numbers either as printed on the Securities or as contained in any notice of a redemption and that reliance may be placed only on the other identification numbers printed on the
Securities, and any such redemption shall not be affected by any defect in or omission of such numbers. 
  

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 ARTICLE 3 
 Amortization From Excess Flow; 
 Application of Distributions From Intercreditor 
 Agreement; Prepayment upon Equity Issuance 
 SECTION 3.01 General. Not less than 5 days prior to each interest payment date or a prepayment date on the Securities pursuant to this Article 3, the Corporation shall furnish to the Trustee a statement containing a calculation in
reasonable detail of (i) if such payment date is the first interest payment date of a Fiscal Year, Excess Cash Flow; (ii) distributions under the Intercreditor Agreement; (iii) Net Proceeds of any Equity Issuance; and (iv) Net
Available Cash from any Asset Sale, in each case with respect to such payment date and setting forth the amount of such Excess Cash Flow, distributions under the Intercreditor Agreement, and Net Proceeds of any Equity Issuance and Net Proceeds of
any Asset Sale to be applied to the prepayment of principal of the Securities pursuant to this Article 3, on which statement the Trustee shall conclusively rely. 
 SECTION 3.02 Application of Excess Cash Flow. No later than the March 31 interest payment date, the Corporation shall prepay Securities in an aggregate amount equal to the greater of (a) 100% of
Excess Cash Flow for such Measuring Period and (b) 100% of Excess Cash on Hand as of the related Measuring Date. 
 SECTION 3.03
Obligation to Pay Securities in Cash. Notwithstanding anything contained in this Indenture or the Securities, the full amount of all interest, and the principal amount of the Securities shall be payable in cash without regard to the source of
such cash or the amount of Excess Cash Flow on the respective dates for payment of interest provided in the Securities and on the maturity date of the Securities, whether at the stated maturity on the Maturity Date, or upon acceleration or
otherwise. 
 SECTION 3.04 Application of Distributions from Intercreditor Agreement. Any amounts or distributions received by the
Trustee under the Intercreditor Agreement for the account of the Securityholders from proceeds of any principal payment required under the Hillside Credit Agreement shall first be applied to the prepayment of the outstanding principal of the
Securities as a mandatory prepayment and then applied to any accrued but unpaid interest thereon on the next interest payment date. Any amounts or distributions received by the Trustee under the Intercreditor Agreement from the Collateral Trustee
for the account of the Securityholders from the exercise of remedies shall be promptly applied by the Trustee to the prepayment of the outstanding principal of the Securities as a mandatory prepayment and then applied to any accrued by unpaid
interest thereon, but in any event, no later than three (3) Business Days following the receipt thereof from the Collateral Agent. 
 SECTION 3.05 Prepayment Upon Equity Issuance. On the date that is five Business Days following any Equity Issuance, the Corporation shall apply the Net Proceeds of any Equity Issuance to a prepayment of the Securities as provided in
Section 5.05(3) and this Article 3. Any such prepayments shall first be applied to the prepayment of the outstanding principal of the Securities as a mandatory prepayment and then applied to any accrued but unpaid interest thereon. 

 

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 SECTION 3.06 Prepayment Upon an Asset Sale. The Corporation shall apply Net Available Cash to
prepay the Securities as provided in Section 5.05(2) and this Article 3. Any such prepayments shall first be applied to the prepayment of the outstanding principal of the Securities as a mandatory prepayment and then applied to any accrued but
unpaid interest thereon. 
 SECTION 3.07 Prepayments to be made pro rata. Any prepayment to be effected pursuant to Sections 3.02,
3.04, 3.05 or 3.06 shall be made on a pro rata basis among the Securities. 
 ARTICLE 4 
 Redemption 
 SECTION 4.01 Notices
to Trustee. If the Corporation elects to redeem Securities pursuant to paragraph 8 of the Securities, it shall notify the Trustee in writing of the redemption date and the principal amount of Securities to be redeemed. 
 The Corporation shall give the notice provided for in this Section at least 30 but no more than 60 days before the redemption date, unless the Trustee
consents to a shorter period. Such notice shall be accompanied by an Officers’ Certificate and an Opinion of Counsel from the Corporation that such redemption will comply with the conditions contained herein. 
 If less than all the Securities are to be redeemed, the record date relating to such redemption shall be selected by the Corporation and given by notice
to the Trustee, which record date shall be not less than 15 days after the date of notice to the Trustee. 
 SECTION 4.02 Selection of
Securities To Be Redeemed. If less than all the Securities are to be redeemed, the Trustee shall select the Securities to be redeemed pro rata or by lot or by a method that complies with applicable legal and securities exchange requirements (or
applicable depository requirements), if any. The Trustee shall make the selection from outstanding Securities not previously called for redemption. The Trustee may select for redemption portions of the principal of Securities that have denominations
larger than $1,000, subject to the restriction that Securities and portions of Securities the Trustee selects shall be in amounts of $1,000 or a whole multiple of $1,000. Securities in denominations of $1,000 or less may only be redeemed in whole.
Provisions of this Indenture that apply to Securities called for redemption also apply to portions of Securities called for redemption. The Trustee shall notify the Corporation promptly of the Securities or portions of Securities to be redeemed.

 SECTION 4.03 Notice of Redemption. At least 30 days but no more than 60 days before a date for redemption of Securities, the
Corporation shall mail a notice of redemption by first-class mail to each Holder of Securities to be redeemed. 
  

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 The notice shall identify the Securities to be redeemed and shall state: 
 (1) the redemption date; 
 (2) the
redemption price; 
 (3) the name and address of the Paying Agent; 
 (4) that Securities called for redemption must be surrendered to the Paying Agent to collect the redemption price; 
 (5) if less than all the outstanding Securities are to be redeemed, the identification and principal amounts of the particular Securities to be redeemed;

 (6) that, unless the Corporation defaults in making such redemption payment, interest on Securities called for redemption ceases to accrue
on and after the redemption date; 
 (7) the paragraph of the Securities and/or Section of this Indenture pursuant to which the Securities
called for redemption are being redeemed; and 
 (8) the CUSIP number, provided that no representation is made as to the correctness or
accuracy of the CUSIP number, if any, listed in such notice or printed on the Securities. 
 At the Corporation’s written request, the
Trustee shall give the notice of redemption in the Corporation’s name and at the Corporation’s expense (provided that such request shall be made to the Trustee not less than five (5) Business Days prior to the date on which such
notice is required to be mailed, unless a shorter period is acceptable to the Trustee). In such event the Corporation shall provide the Trustee with the information required by clauses (1) through (4) and (7). 
 SECTION 4.04 Effect of Notice of Redemption. Once notice of redemption is mailed, Securities called for redemption become due and payable on the
redemption date and at the redemption price stated in the notice. Upon surrender to the Paying Agent, such Securities shall be paid at the redemption price stated in the notice, plus accrued interest to the redemption date. Failure to give notice or
any defect in the notice to any Holder shall not affect the validity of the notice to any other Holder. 
 SECTION 4.05 Deposit of
Redemption Price. Prior to 10:00 a.m. New York City time on the redemption date, the Corporation shall deposit with the Paying Agent (or if the Corporation or a Subsidiary is the Paying Agent, shall segregate and hold in trust) money, in
immediately available funds, sufficient to pay the redemption price of and accrued interest on all Securities to be redeemed on that date other than Securities or portions of Securities called for redemption which have been delivered by the
Corporation to the Trustee for cancellation. 
 SECTION 4.06 Securities Redeemed in Part. Upon surrender to the Trustee at the
Corporate Trust Office of a Security that is redeemed in part, the Corporation shall execute and the Trustee shall authenticate for the Holder (at the Corporation’s expense) a new Security equal in principal amount to the unredeemed portion of
the Security surrendered. 
  

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 ARTICLE 5 
 Covenants 
 SECTION 5.01 Payment of Securities. The Corporation shall promptly pay the
principal of and interest on the Securities not later than 11:00 a.m. New York City time on the dates and in the manner provided in the Securities and in this Indenture. Principal and interest (including any redemption price) shall be considered
paid on the date due if the Trustee or the Paying Agent (other than the Corporation or a Subsidiary) holds on such date as of 11:00 a.m. New York City time money in U.S. dollars sufficient to pay all principal and interest (including any redemption
price) then due and the Trustee or the Paying Agent is not prohibited from paying such money to the Holders on that date pursuant to the terms of this Indenture. 
 The Corporation shall pay interest on overdue principal (including any redemption price) at the rate borne by the Securities plus 1% per annum, and it shall pay interest on overdue installments of interest
(without regard to any applicable grace periods) at the same rate to the extent lawful. 
 SECTION 5.02 SEC Reports. (1) The
Corporation shall provide the Trustee and the Securityholders with reports containing substantially the same information as would have been required to be filed with the SEC with respect to financial statements, management’s discussion and
analysis and a discussion of significant changes in the business and financial condition of the Corporation which the Corporation would have been required to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act if the
Corporation was subject to the reporting requirements of Section 13 or 15(d) of the Securities and Exchange Act of 1934. Such reports shall be provided at the times the Corporation would have been required to provide reports had it continued to
have been subject to such reporting requirements. Notwithstanding anything to the contrary herein, if this Indenture is otherwise required to be qualified under the TIA, the Corporation shall at all times comply with the provisions of
Section 314(a) of the TIA. In addition, the Corporation agrees that, for so long as any Securities remain outstanding, at any time the Corporation is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act, it
shall furnish to the Securityholders upon their request, the information required to be delivered pursuant to Rule 144A(d)(4) under the Securities Act. 
 (2) The Corporation shall provide the Securityholders the financial information, reports and notices delivered to Hillside under Sections 6.01 and 6.02 of the Hillside Credit Agreement promptly after the same are
delivered by the Corporation to Hillside. 
 (3) The Trustee shall not be under any duty or obligation to examine, review or evaluate any of
the reports, statements, plans or other information delivered or required to be delivered to it pursuant to this Section 5.02, it being hereby acknowledged that such deliveries are made to the Trustee solely to make such material accessible to
Securityholders upon their request. 
  

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 SECTION 5.03 Limitation on Indebtedness. (1) The Corporation shall not, and shall not permit any
of its Restricted Subsidiaries to directly or indirectly, create, issue, assume, Guarantee, incur or otherwise become directly or indirectly liable, contingently or otherwise, for (collectively, “Incur”) any Indebtedness except as
permitted under Clause (2) of this Section 5.03. 
 (2) The Corporation and its Restricted Subsidiaries may Incur the following
Indebtedness: 
 (a) Indebtedness of the Corporation represented by the Securities; 
 (b) Existing Indebtedness; 
 (c) Indebtedness of the Corporation to any Subsidiary Guarantor and of any Restricted Subsidiary to the Corporation or any Subsidiary Guarantor; 
 (d) Indebtedness of the Corporation or any Restricted Subsidiary arising with respect to Interest Rate Agreement Obligations and Currency
Agreement Obligations Incurred for the purpose of fixing or hedging interest rate risk or currency risk; 
 (e) Indebtedness
represented by performance, completion, Guarantee, surety and similar bonds provided by the Corporation or any Restricted Subsidiary in the ordinary course of business; 
 (f) Indebtedness Incurred by the Corporation or any of its Restricted Subsidiaries constituting reimbursement obligations with respect to
letters of credit or other instruments issued in the ordinary course of business, including without limitation letters of credit in respect of workmen’s compensation claims or self-insurance or securing obligations of the Corporation or any
Restricted Subsidiary under operating leases; provided that upon drawing of such letters of credit or other instrument such drawings are reimbursed within 30 days following demand for reimbursements and letters of credit in effect on the date hereof
and identified on Schedule D hereto, as any such letter of credit may be extended or renewed without increasing the amount that may be drawn thereunder; 
 (g) Indebtedness Incurred in connection with or given in exchange for the renewal, extension, modification, amendment, refunding, defeasance, refinancing or replacement (a “refinancing”) of any of the
Securities or any Existing Indebtedness or any Indebtedness issued after the Issue Date and not Incurred in violation of the Indenture (“Refinancing Indebtedness”); provided, however, that (a) the principal amount of such Refinancing
Indebtedness shall not exceed the principal amount (or accreted amount, if less) of the Indebtedness so refinanced at the time outstanding (or obtainable under any outstanding revolving credit or similar agreement) (plus the premiums paid in
connection therewith and the reasonable expenses incurred in connection therewith), provided further, that in the case of a refinancing of Indebtedness under a revolving credit or similar agreement, if the agreement has been terminated prior to the
date of such refinancing and all Indebtedness thereunder been repaid, the amount of such Refinancing Indebtedness shall not exceed the maximum amount obtainable under such agreement at 

  

 28 

 
the time of termination thereof; (b) with respect to Subordinated Indebtedness being refinanced, the Stated Maturity of the Refinancing Indebtedness
shall be not earlier than the Stated Maturity of the Indebtedness being refinanced, and such Refinancing Indebtedness shall have an Average Life at the time such Refinancing Indebtedness is incurred that is equal to or greater than the remaining
Average Life of the Indebtedness being Refinanced; (c) with respect to Subordinated Indebtedness being refinanced, such Refinancing Indebtedness shall rank no more senior than, and shall be at least as subordinated in right of payment to the
Securities as the Indebtedness being refinanced; and (d) the obligor on such Refinancing Indebtedness shall be the obligor on the Indebtedness being refinanced; 
 (h) Indebtedness of the Corporation or any Restricted Subsidiary (a) representing Capital Lease Obligations and (b) in respect
of Purchase Money Obligations for property acquired in the ordinary course of business, which taken together do not exceed $250,000 in aggregate amount at any time outstanding; 
 (i) Guarantees provided under Article 12 hereof and Guarantees by the Corporation or any Subsidiary Guarantor of Indebtedness of the
Corporation or any Subsidiary Guarantor that was permitted to be Incurred pursuant to another provision of this covenant (other than Indebtedness under clause (b) or (g), unless expressly permitted by such sections, or clause (c)); 

(j) Indebtedness of the Corporation or any Subsidiary Guarantor Incurred pursuant to the Hillside Credit Agreement, including without
limitation any Guarantee of such Indebtedness Incurred pursuant to the Hillside Credit Agreement, in each case, provided that the principal amount thereof does not exceed $25,000,000 in the aggregate at any time; 
 (k) New Preferred Stock of the Corporation issued in accordance with the terms of the Hillside Agreement; 
 (l) and Guarantees of the Subsidiary Guarantors of the Corporation’s payment obligations under to the New Preferred Stock Incurred
pursuant to the Hillside Agreement; and 
 (m) unsecured Subordinated Indebtedness in an aggregate principal amount not to
exceed $100,000 at any time outstanding. 
 Any Indebtedness of a Person existing at the time such Person becomes a Restricted Subsidiary
(whether by merger, consolidation, acquisition or otherwise; an “Acquired Person”) shall be deemed to be Incurred by such Restricted Subsidiary at the time it becomes a Restricted Subsidiary. 
  

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 SECTION 5.04 Limitation on Restricted Payments. The Corporation will not, and will not permit any
Restricted Subsidiary to, directly or indirectly, declare, order, pay, make or set apart any sum for a Restricted Payment (including any Restricted Investment), provided, that, so long as there is no Default or Event of Default continuing, the
following payments and other actions shall be expressly permitted (collectively, “Permitted Payments”): 
 (a) any
purchase or defeasance of Subordinated Indebtedness to the extent required upon a Change of Control or Asset Sale (as defined herein) by this Indenture or other agreement or instrument pursuant to which such Subordinated Indebtedness was issued, but
only if the Corporation (x) in the case of a Change of Control, has complied with its obligations under Section 5.10 or (y) in the case of an Asset Sale has applied the Net Available Cash from such Asset Sale in accordance with the
provisions of Section 5.05 of this Indenture 
 (b) the repurchase of Capital Stock of the Corporation (including
options, warrants or other rights to acquire such Capital Stock) from directors, officers or employees (or their nominees) of the Corporation or its Subsidiaries pursuant to the terms of an employee benefit plan or employment agreement or similar
arrangement; provided that an aggregate amount of all such repurchases (net of repayments or cancellations of indebtedness as a result of such repurchases) shall not exceed $250,000 so long as the Securities are outstanding. 
 The Corporation will not, nor will it permit any of its Restricted Subsidiaries to make or permit to remain outstanding any Investments except
(i) Investments outstanding on the date hereof and identified in Schedule E; (ii) operating deposit accounts of the Corporation or such Restricted Subsidiary with banks; (iii) Permitted Investments; and (iv) Investments
consisting of security deposits with utilities, lessors and other like Persons made in the ordinary course of business. 
 SECTION 5.05
Limitation on Asset Sales; Equity Issuances. (1) The Corporation will not, and will not permit any Restricted Subsidiary to, make any Asset Sale unless (i) the Corporation or such Restricted Subsidiary, as the case may be, receives
consideration at the time of such Asset Sale at least equal to the fair market value of the assets or other property sold or disposed of in the Asset Sale, (ii) the fair market value is determined by the Board of Directors and evidenced by a
resolution of the Board of Directors set forth in an Officer’s Certificate delivered to the Trustee and (iii) at least 75% of such consideration consists of either cash or Cash Equivalents; provided that, the aggregate Asset Sales
permitted hereunder shall not exceed $250,000 while the Securities are outstanding. 
 For the purposes of this covenant, the following will
be deemed to be cash: (x) the assumption by the transferee of Indebtedness of the Corporation or Indebtedness of any Restricted Subsidiary of the Corporation (other than Subordinated Obligations related to the asset sold) and the release of the
Corporation or such Restricted Subsidiary from all liability on such Indebtedness in connection with such Asset Sale and (y) securities received by the Corporation or any Restricted Subsidiary of the Corporation from the transferee that are
promptly (and in any event within 40 days) converted by the Corporation or such Restricted Subsidiary into cash. 
 (2) Within 2 Business
Days after any Asset Sale, the Corporation may elect to apply the Net Available Cash from an Asset Sale to (i) apply up to $100,000 in the aggregate from all Asset Sales to make an Investment in, or acquire assets and properties that will be
used in the business of the Corporation and its Restricted Subsidiaries, and (ii) any balance of such Net Available Cash exceeding $100,000 and not applied or invested as provided in clause (i) within 2 Business Days after such Asset Sale,
shall be applied to prepay the Securities as provided in this Section 5.05 and Article 3. Pending the final application of any such Net Available Cash, the Corporation may temporarily invest such Net Available Cash in cash or Cash Equivalents.

  

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 (3) Upon the date that is five (5) Business Days following any Equity Issuance, the Corporation
shall prepay the Securities in an aggregate amount equal to 100% of the Net Proceeds thereof as provided in this Section 5.05 and Article 3. 
 SECTION 5.06 Limitation on Liens. The Corporation shall not, and shall not permit any of its Restricted Subsidiaries to, directly or indirectly, create, incur, assume or permit to exist any Lien on or with respect to any property or
asset of any kind (including any document or instrument in respect of goods or accounts receivable) of the Corporation or any of its Restricted Subsidiaries, whether now owned or hereafter acquired, or any income or profits therefrom, or file or
permit the filing of, or permit to remain in effect, any financing statement or other similar notice of any Lien with respect to any such property, asset, income or profits under the UCC or under any similar recording or notice statute except
Permitted Liens. 
 SECTION 5.07 Limitation on Dividends and Other Payment Restrictions Affecting Restricted Subsidiaries. The
Corporation will not, and will not permit any Restricted Subsidiary to, directly or indirectly, create or otherwise cause or suffer to exist or become effective any consensual encumbrance or restriction on the ability of any Restricted Subsidiary to
(i) pay dividends or make any other distributions to the Corporation or any other Restricted Subsidiary on its Capital Stock, or pay any Indebtedness owed to the Corporation or any other Restricted Subsidiary, make loans or advances to the
Corporation or any other Restricted Subsidiary or (ii) transfer any of its properties or assets to the Corporation or any other Restricted Subsidiary, except for such encumbrances or restrictions existing under or by reason of 
 (1) any agreement or instrument evidencing or governing any Existing Indebtedness; 
 (2) applicable law; 
 (3) any instrument
governing Indebtedness or Capital Stock of an Acquired Person acquired by the Corporation or any of its Restricted Subsidiaries as in effect at the time of such acquisition or any refinancing thereof; provided, however, that such restriction is not
applicable to any Person, or the properties or assets of any Person, other than the Acquired Person; 
 (4) by reason of customary
non-assignment provisions in leases entered into in the ordinary course of business and consistent with past practices; 
 (5) Purchase Money
Obligations for property acquired in the ordinary course of business that only impose restrictions on the property so acquired; 
 (6) an
agreement for the sale or disposition of the Capital Stock or assets of such Restricted Subsidiary; provided, however, that such restriction is only applicable to such Restricted Subsidiary or assets, as applicable, and such sale or disposition
otherwise is permitted under Section 5.05 of this Indenture; 
  

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 (7) Refinancing Indebtedness permitted under the Indenture; provided, however, that the restrictions
contained in the agreements governing such Refinancing Indebtedness are not materially more restrictive in the aggregate than those contained in the agreements governing the Indebtedness being refinanced immediately prior to such refinancing;

 (8) the Indenture and the Securities; 
 (9) the Hillside Credit Agreement; 
 (10) the New Preferred Stock issued in accordance with the terms of the
Hillside Agreement; or 
 (11) the Hillside Agreement. 
 Nothing contained in this Section 5.07 shall prevent the Corporation or any Restricted Subsidiary from (1) creating, incurring, assuming or suffering to exist any Liens otherwise permitted by
Section 5.06 or (2) restricting the sale or other disposition of property or assets of the Corporation or any of its Restricted Subsidiaries that secure Indebtedness of the Corporation or any of its Restricted Subsidiaries with customary
restrictions under the agreements evidencing such secured Indebtedness, provided, that the applicable Lien is permitted hereunder. 
 SECTION
5.08 Limitation on Transactions with Affiliates. The Corporation will not, and will not permit any Subsidiary to, directly or indirectly, enter into any transaction or series of related transactions (including, without limitation, the sale,
purchase, exchange or lease of assets, property or services) with any Affiliate of the Corporation unless (1) such transaction or series of transactions is on terms that are not materially less favorable to the Corporation or such Subsidiary,
as the case may be, than would be available in a comparable transaction in arm’s-length dealings with an unrelated third party, and (2) the Corporation delivers to the Trustee, with respect to any transaction or series of related
transactions involving aggregate payments in excess of $250,000, an Officers’ Certificate certifying that such transaction or series of related transactions has been approved by a majority of the members of the Board of Directors of the
Corporation and evidenced by a resolution of the Board of Directors set forth in an Officers’ Certificate. Notwithstanding the foregoing, this covenant will not apply to 
 (a) employment agreements, compensation or employee benefit arrangements, stock options or stock purchase plans or agreements with or for
the benefit of any officer, director or employee of the Corporation or any Subsidiary entered into in the ordinary course of business and approved by the Board of Directors of the Corporation (including loans and stock repurchase arrangements
thereunder, customary fringe benefits and including reimbursement or advancement of out of pocket expenses, loans to officers, directors and employees in the ordinary course of business, reasonable fees paid to directors who are not employees of the
Corporation, and director’s and officer’s liability insurance and indemnification arrangements); 
  

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 (b)(A) any transaction entered into by or among the Corporation or one of its Subsidiary
Guarantors with one or more Subsidiary Guarantors and 
 (B) any transaction entered into by or among the Corporation or one
or more Subsidiary Guarantors with any other Restricted Subsidiary to the extent necessary for the operation of the business of such Restricted Subsidiary and entered into in the ordinary course of their respective businesses; 
 (c) any Restricted Payment not prohibited by the provisions of Section 5.04 of this Indenture; 
 (d) transactions permitted by, and complying with, the provisions of Article 6 of this Indenture; 
 (e) any sale or issuance of Capital Stock (other than Disqualified Stock) of the Corporation; 
 (f) the grant or performance of registration rights with respect to securities of the Corporation; 
 (g) transactions under and pursuant to the Hillside Agreement, the Hillside Credit Agreement (including the issuance of the New Preferred
Stock in accordance with the terms of the Hillside Agreement), the Security Agreement and the Intercreditor Agreement. 
 SECTION 5.09
Limitation on Designation of Unrestricted Subsidiaries. The Corporation will not designate any Subsidiary of the Corporation as an “Unrestricted Subsidiary” under the Indenture (a “Designation”) after the Issue Date.
Neither the Corporation nor any Restricted Subsidiary shall at any time (x) provide a Guarantee of or similar undertaking (including any undertaking, agreement or instrument evidencing such Indebtedness) with respect to any Indebtedness of an
Unrestricted Subsidiary; provided that the Corporation and its Restricted Subsidiaries may pledge Capital Stock or Indebtedness of any Unrestricted Subsidiary on a nonrecourse basis such that the pledgee has no claim whatsoever against the
Corporation other than to obtain such pledged property or (y) be directly or indirectly liable for any Indebtedness of any Unrestricted Subsidiary. The Corporation may not revoke any Designation of a Subsidiary as an Unrestricted Subsidiary.
The Unrestricted Subsidiaries are set forth in Schedule F of this Indenture. 
 SECTION 5.10 Change of Control. (1) Upon a Change of
Control, each Holder shall have the right to require that the Corporation repurchase such Holder’s Securities at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of
purchase (subject to the right of Holders of record on a record date to receive interest on the relevant payment date), in accordance with the terms contemplated in Section 5.10(2). 
 (2) Within 30 days following any Change of Control, the Corporation shall mail a notice to each Holder with a copy to the Trustee stating: 
 (a) that a Change of Control has occurred and that such Holder has the right to require the Corporation to purchase such Holder’s
Securities at a purchase price in cash equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, to the date of purchase (subject to the right of Holders of record on a record date to receive interest on the relevant
payment date); 
  

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 (b) the repurchase date (which shall be no earlier than 30 days nor later than 60 days
from the date such notice is mailed); and 
 (c) the procedures determined by the Corporation, consistent with this Section,
that a Holder must follow in order to have its Securities purchased. 
 (3) Holders electing to have a Security purchased will be required to
surrender the Security, with an appropriate form duly completed, to the Corporation at the address specified in the notice at least three Business Days prior to the purchase date. Holders will be entitled to withdraw their election if the Trustee or
the Corporation receives not later than three Business Days prior to the purchase date, a telegram, telex, facsimile transmission or letter setting forth the name of the Holder, the principal amount of the Security which was delivered for purchase
by the Holder and a statement that such Holder is withdrawing his election to have such Security purchased. 
 (4) On the purchase date, all
Securities to be purchased by the Corporation under this Section shall be delivered to the Trustee for cancellation, and the Corporation shall pay the purchase price plus accrued and unpaid interest, if any, to the Holders entitled thereto.

 (5) The Corporation shall comply, to the extent applicable, with the requirements of Section 14(e) of the Exchange Act and any other
securities laws or regulations in connection with the repurchase of Securities pursuant to this Section. To the extent that the provisions of any securities laws or regulations conflict with provisions of this Section, the Corporation shall comply
with the applicable securities laws and regulations and shall not be deemed to have breached its obligations under this Section by virtue thereof. 
 SECTION 5.11 Compliance Certificate: Notice of Defaults. The Corporation shall deliver to the Trustee within 120 days after the end of each fiscal year of the Corporation an Officers’ Certificate stating that in the course of
the performance by the signers of such Certificate of their duties as Officers of the Corporation they would normally have knowledge of any Default by the Corporation and whether or not the signers know of any Default or Event of Default that
occurred during such period. If they do know of such a Default or Event of Default, the certificate shall describe the Default or Event of Default, its status and what action the Corporation is taking or proposes to take with respect thereto.

 Promptly after an Officer of the Corporation obtains knowledge of a Default or Event Default under this Indenture, the Corporation will
deliver to the Trustee an Officers’ Certificate specifying such Default or Event of Default and what action the Corporation is taking or proposes to take thereto. 
 SECTION 5.12 Further Instruments and Acts. The Corporation will, upon request of the Trustee, execute and deliver such further instruments and do such further acts as may be reasonably necessary or proper to
carry out more effectively the purposes of this Indenture. 
  

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 SECTION 5.13 Hillside Credit Agreement. The Corporation will not, and will not permit any
Restricted Subsidiary to, directly or indirectly (i) declare, pay, make or set aside any amount for payment in respect of the Hillside Agreement, the Hillside Credit Agreement, or the New Preferred Stock (or any Guarantee thereof) except for
(x) regularly scheduled payments of interest at the non-default rate of interest (but no voluntary or mandatory prepayments) in respect of the Hillside Credit Agreement made on the interest payment date, provided that (a) the interest
payment dates under the Hillside Credit Agreement shall be the same dates as the interest payment dates for the Securities, (b) the Corporation shall have paid in full the interest for the Securities due on such date, (c) no Event of
Default has occurred and is continuing under the Securities, (d) the Corporation is not insolvent prior to and after giving effect to the interest payments in respect of the Hillside Credit Agreement, (e) after giving effect to the
interest payments for the Securities and the Hillside Credit Agreement, the Corporation shall have at least $3 million of available liquidity (which shall not include any cash reserved for working capital purposes but which shall include any amounts
available under any revolving credit facility available to it without giving effect to any waivers or amendments of funding conditions or the amount of the commitments that are not permanent) and (f) such payment is made solely from cash that
but for application to such interest payment would constitute “Excess Cash Flow” and (y) out of pocket fees and expenses of third party agents and advisors of Hillside arising under the Hillside Credit Agreement, provided that such
fees and expenses shall not exceed $75,000 in the aggregate while the Securities remain outstanding and fees and expenses to be paid to Hillside on the Effective Date as permitted by the Plan or (ii) amend or otherwise modify the terms of the
Hillside Documents in any respect adverse to the Securityholders, except as expressly permitted in the Intercreditor Agreement. The Obligations of the Corporation and its Subsidiaries under the Hillside Documents shall at all times be subordinated
and junior to the prior payment in full in cash of the Obligations of the Corporation and its Subsidiaries under the Indenture and the Liens securing the Obligations of the Corporation and its Subsidiaries under Hillside Documents shall at all times
be junior and subject to the Liens securing the Obligations of the Corporation and its Subsidiaries under the Indenture, in each case in the manner provided in the Intercreditor Agreement. 
 SECTION 5.14 Taxes. The Corporation will pay, and will cause each of its Subsidiaries to pay, prior to delinquency, all material taxes,
assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment could not reasonably be expected to result in a Material Adverse Effect and when adequate
reserves have been taken in accordance with GAAP. 
 SECTION 5.15 Business Activities. The Corporation shall not, and shall not permit
any of its Restricted Subsidiaries to, engage in any business other than Permitted Businesses, except to such extent as would not be material to the Corporation and its Restricted Subsidiaries taken as a whole. 
  

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 SECTION 5.16 Corporate Existence. Subject to Article 6, hereof, the Corporation shall do or cause
to be done all things necessary to preserve and keep in full force and effect: 
 (1) its corporate existence, and the corporate, partnership
or other existence of each of its Subsidiaries, in accordance with the respective organizational documents (as the same may be amended from time to time) of the Corporation or any such Subsidiary; and 
 (2) the rights (charter and statutory), licenses and franchises of the Corporation and its Subsidiaries; 
 Provided, however, that the Corporation shall not be required to preserve any such right, license or franchise, or the corporate, partnership or other
existence of any of its Subsidiaries, if the Board of Directors shall determine that the preservation thereof could not reasonably be expected to result in a Material Adverse Effect. 
 SECTION 5.17 Additional Note Guarantees. If the Corporation or any of its Restricted Subsidiaries acquires or creates another Domestic Subsidiary
after the date of this Indenture, then that newly acquired or created Domestic Subsidiary will become a Subsidiary Guarantor and execute a supplemental indenture and a joinder to the Security Agreement and shall take all such further actions and
execute all such further documents and instruments as may be necessary or, in the opinion of the Trustee, desirable to create in favor of the Collateral Agent, for the benefit of the Securityholders, a valid and perfected first priority security
interest in all of the assets of such Domestic Subsidiary whether now existing or hereafter acquired (other than Excluded Assets, as defined in the Security Agreement) and deliver an Opinion of Counsel as to the validity and perfection of such
security interest subject to customary exceptions and qualifications reasonably satisfactory to the Trustee within 30 days of the date on which it was acquired or created. The Corporation shall not, and shall not permit any Subsidiary to Guarantee
any Obligations under the Hillside Documents or grant or permit any additional Liens on any asset or property to secure any Obligations under the Hillside Documents unless it has caused such Subsidiary to enter into a Subsidiary Guarantee or granted
a Lien on such asset or property to secure the Securities in accordance with the priorities in the Intercreditor Agreement, as the case may be. 
 SECTION 5.18 No Senior or Pari Passu Indebtedness. The Corporation shall not, and shall not permit any Restricted Subsidiary to, Incur or suffer to exist Indebtedness that is senior or pari passu in right of payment to the
Securities or the Subsidiary Guarantees, as the case may be; except for pari passu Indebtedness expressly permitted by this Indenture or the Intercreditor Agreement. 
 ARTICLE 6 
 Restrictions on Merger. 
 Restrictions on Merger. (a) The Corporation shall not consolidate with or merge with or into, or convey or transfer or lease in one
transaction or a series of related transactions, all or substantially all of its assets to, another Person. 
 (b) The Corporation shall not
permit any Subsidiary Guarantor to consolidate with or merge with or into, or convey, transfer or lease, in one transaction or a series of transactions, all or substantially all of its assets to any Person. 
  

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 Notwithstanding the foregoing clauses (a) and (b), any Subsidiary Guarantor may consolidate with,
merge into or transfer all or part of its property and assets to the Corporation or another Subsidiary Guarantor. 
 ARTICLE 7 
 Defaults and Remedies 
 SECTION 7.01
Events of Default. An “Event of Default” occurs if: 
 (1) the Corporation defaults in the payment of interest on any
Security when the same becomes due and payable, and such default continues for a period of 5 days; 
 (2) the Corporation (i) defaults
in the payment of the principal of any Security when the same becomes due and payable at its Stated Maturity, upon redemption, upon declaration of acceleration or otherwise; (ii) fails to apply Excess Cash Flow or distributions from the
Intercreditor Agreement or the Net Proceeds of any Equity Issuance or the Net Available Cash from an Asset Sale to prepay the Securities in the manner described in Article 3 and/or Article 5 or (iii) otherwise fails to prepay, redeem or
purchase any securities when required pursuant to the Indenture or the Securities; 
 (3) the Corporation fails to comply with Article 6
[Restrictions on Merger] or Sections 5.10 [Change of Control] or 5.13 [Hillside Credit Agreement] hereof; 
 (4) the Corporation fails to
observe or perform any of its covenants or agreements set forth in Sections 5.02 [SEC Reports], 5.03 [Limitation on Indebtedness], 5.04 [Limitation on Restricted Payments], 5.05 [Limitation on Asset Sales; Equity Issuances], 5.06 [Limitation on
Liens], 5.07 [Limitation on Dividends and Other Payment Restrictions Affecting Restricted Subsidiaries], 5.08 [Limitation on Transactions with Affiliates], 5.09 [Limitation on Designation of Unrestricted Subsidiaries], or 5.18 [No Senior or Pari
Passu Indebtedness] hereof or in the Security Agreement or in the Intercreditor Agreement and the Default continues for a period of 10 days; 
 (5) the Corporation fails to observe or perform any of its covenants or agreements set forth in the Securities or in this Indenture other than the covenants and agreements specified in clause (1), (2), (3) or (4) above and the
Default continues for a period of 15 days; 
 (6) a default or event of default (as such term is defined in the instrument or agreement under
which any Indebtedness is issued) occurs under any instrument under which there may be issued or by which there may be secured or evidenced any Indebtedness of the Corporation or any Restricted Subsidiary, whether such Indebtedness now exists or
shall be created hereafter, that permits or results in the right of the holders of such Indebtedness to accelerate such Indebtedness (regardless of whether such Indebtedness is so accelerated) or any default occurs in the payment of the principal
amount of such Indebtedness at final maturity, if the total of all such Indebtedness that may be accelerated or which becomes due and payable exceeds $100,000 or its foreign currency equivalent at the time, in each case notwithstanding any notice
requirement or grace periods applicable to any default or event of default; 
  

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 (7) any judgment or decree for the payment of money in excess of $500,000 or its foreign currency
equivalent at the time is entered against the Corporation or any Restricted Subsidiary, remains outstanding after the entry of such judgment or decree and is not discharged, waived or the execution thereof stayed for a period of 30 days; 

(8) the Corporation or any Restricted Subsidiary pursuant to or within the meaning of any Bankruptcy Law: 
 (a) commences a voluntary case; 
 (b) consents to the entry of an order for relief against it in an involuntary case; 
 (c)
consents to the appointment of a Custodian of it or for any substantial part of its property; or 
 (d) makes a general
assignment for the benefit of its creditors; or takes any comparable action under any foreign laws relating to insolvency; or 
 (e) generally is not paying its debts as they come due; 
 (9) a court of competent jurisdiction enters an order or decree under any
Bankruptcy Law that: 
 (a) is for relief against the Corporation or any Restricted Subsidiary in an involuntary case;

 (b) appoints a Custodian of the Corporation or any Restricted Subsidiary or for any substantial part of its property; or

 (c) orders the winding up or liquidation of the Corporation or any Restricted Subsidiary; or 
 (d) any similar relief is granted under any foreign laws; and, in the case of (a), (b), (c) or (d), such order or decree or similar
grant of relief remains unstayed and in effect for 60 days. 
 (10) a Subsidiary Guarantee ceases to be in full force and effect (other than
in accordance with the terms of such Subsidiary Guarantee) or a Subsidiary Guarantor denies or disaffirms its obligations under its Subsidiary Guarantee; or 
 (11) any security interest granted under the Security Agreement shall, at any time, cease to be in full force and effect and valid and perfected and, except to the extent permitted by the Security Agreement, this
Indenture and the Intercreditor Agreement, a first priority Lien for any reason other than the satisfaction in full of all Obligations under this Indenture secured by such security interest or the release of such security interest in accordance with
the provisions of the Security Agreement and the Intercreditor Agreement or the Corporation or any Restricted Subsidiary shall assert, in any pleading in any court of competent jurisdiction, that any such security interest is invalid or
unenforceable. 
  

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 The term “Bankruptcy Law” means Title 11, United States Code, or any similar Federal or state
law for the relief of debtors. The term “Custodian” means any receiver, trustee, assignee, liquidator, custodian or similar official under any Bankruptcy Law. 
 The Corporation shall deliver to the Trustee, promptly and in any event within 10 days after the occurrence thereof, written notice in the form of an Officers’ Certificate of any event which with the giving of
notice and the lapse of time would become an Event of Default under clause (1), (2), (3), (4), (5), (6), (7), (10) or (11) hereof, its status and what action the Corporation is taking or proposes to take with respect thereto. 

The Trustee shall not be charged with knowledge of any Default or Event of Default unless written notice thereof referring expressly to this
Section 7.01 shall have been given to a Trust Officer at the Corporate Trust Office of the Trustee by the Corporation or any other Person. 
 SECTION 7.02 Acceleration. If an Event of Default (other than an Event of Default specified in Section 7.01(8) or (9) with respect to the Corporation) occurs and is continuing, the Trustee by notice to the Corporation, or
the Holders of at least 25% in principal amount of the Securities by notice to the Corporation and the Trustee, may declare the principal of and accrued interest on all the Securities to be due and payable. Upon such a declaration, such principal
and interest shall be due and payable immediately. If an Event of Default specified in Section 7.01(8) or (9) with respect to the Corporation occurs, the principal of and all accrued interest on the Securities shall ipso facto become
immediately due and payable without any declaration or other action on the part of the Trustee or any Securityholders. The Holders of a majority in principal amount of the Securities by notice to the Trustee may rescind an acceleration and its
consequences if the rescission would not conflict with any judgment or decree and if all existing Events of Default have been cured or waived except nonpayment of principal or interest that has become due solely because of acceleration. No such
rescission shall affect any subsequent Default or Event of Default or impair any right consequent thereto. 
 SECTION 7.03 Other
Remedies. If an Event of Default occurs and is continuing, the Trustee may pursue any available remedy to collect the payment of principal of or interest on the Securities or to enforce the performance of any provision of the Securities or this
Indenture or of the Security Agreement or Intercreditor Agreement. 
 The Trustee may maintain a proceeding even if it does not possess any
of the Securities or does not produce any of them in the proceeding. A delay or omission by the Trustee or any Securityholder in exercising any right or remedy accruing upon an Event of Default shall not impair the right or remedy or constitute a
waiver of or acquiescence in the Event of Default. No remedy is exclusive of any other remedy. All available remedies are cumulative. 
 SECTION 7.04 Waiver of Past Defaults. The Holders of a majority in principal amount of the Securities by notice to the Trustee may waive an existing Default or Event of Default and its consequences except (i) a Default in the
payment of the principal or interest on a Security or (ii) a Default in respect of a provision that under Section 10.02 cannot be amended without the consent of the Securityholders affected. When a Default is waived, it is deemed cured,
but no such waiver shall extend to any subsequent or other Default or Event of Default or impair any consequent right. 
  

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 SECTION 7.05 Control by Majority. The Holders of a majority in principal amount of the Securities
may direct the time, method and place of conducting any proceeding for any remedy available to the Trustee or of exercising any trust or power conferred on it. However, the Trustee may refuse to follow any direction that conflicts with law or this
Indenture or, subject to Section 8.01, that the Trustee determines is unduly prejudicial to the rights of other Securityholders or would involve the Trustee in personal liability; provided, however, that the Trustee may take any other action
deemed proper by the Trustee that is not inconsistent with such direction. Prior to taking any action hereunder, the Trustee shall be entitled to indemnification satisfactory to it in its sole discretion against all losses and expenses caused by
taking or not taking such action. 
 SECTION 7.06 Limitation on Suits. A Securityholder may not pursue any remedy with respect to this
Indenture or the Securities unless: 
 (1) the Holder gives to the Trustee written notice stating that an Event of Default is continuing;

 (2) the Holders of at least 25% in principal amount of the Securities make a written request to the Trustee to pursue the remedy;

 (3) such Holder or Holders offer and, if requested, provide to the Trustee reasonable security or indemnity against any loss, liability or
expense; 
 (4) the Trustee does not comply with the request within 60 days after receipt of the request and the offer and, if requested,
provision of security or indemnity; and 
 (5) the Trustee has not received from the Holders of a majority of principal amount of the
Securities a direction inconsistent with the request during such 60-day period. 
 A Securityholder may not use this Indenture to prejudice
the rights of another Securityholder or to obtain a preference or priority over another Securityholder. 
 SECTION 7.07 Rights of Holders
To Receive Payment. Notwithstanding any other provision of this Indenture, the right of any Holder to receive payment of principal of and interest on the Securities held by such Holder, on or after the respective due dates expressed in the
Securities, or to bring suit for the enforcement of any such payment on or after such respective dates, shall not be impaired or affected without the consent of such Holder. 
 SECTION 7.08 Collection Suit by Trustee. If an Event of Default in payment of interest or principal specified in Section 7.01(1) or
(2) occurs and is continuing, the Trustee may recover judgment in its own name and as trustee of an express trust against the Corporation for the whole amount of principal and interest remaining unpaid and the amounts provided for in
Section 8.07. 
  

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 SECTION 7.09 Trustee May File Proofs of Claim. Subject to Section 7.05, the Trustee may file
such proofs of claim and other papers or documents and take other action including participating as a member (voting or otherwise) of any committee of creditors appointed in the matter as may be necessary or advisable in order to have the claims of
the Trustee and the Securityholders allowed in any judicial proceedings relative to the Corporation or any Subsidiary Guarantor, its creditors or its property and, unless prohibited by law or applicable regulations, may vote on behalf of the Holders
in any election of a trustee in bankruptcy or other person performing similar functions, and any Custodian in any such judicial proceeding is hereby authorized by each Holder to make payments to the Trustee and, in the event that the Trustee shall
consent to the making of such payments directly to the Holders, to pay to the Trustee any amount due it for the costs and expenses of collection, including the reasonable compensation, expenses, disbursements and advances of the Trustee, its agents
and its counsel, and any other amounts due the Trustee under Section 8.07. 
 SECTION 7.10 Priorities. If the Trustee collects
any money pursuant to this Article, it shall pay out the money in the following order: 
 FIRST: to the Trustee for amounts due under
Section 8.07; 
 SECOND: to Securityholders for amounts due and unpaid on the Securities for principal and interest, ratably, without
preference or priority of any kind, according to the amounts due and payable on the Securities for principal and interest, respectively; 
 THIRD: pursuant to the Intercreditor Agreement; and 
 FOURTH: to the Corporation. 
 The Trustee may fix a record date and payment date for any payment to Securityholders pursuant to this Section. At least 15 days before such record date,
the Corporation shall mail to each Securityholder and the Trustee a notice that states the record date, the payment date and amount to be paid. 
 SECTION 7.11 Undertaking for Costs. In any suit for the enforcement of any right or remedy under this Indenture or in any suit against the Trustee for any action taken or omitted by it as Trustee, a court in its discretion may
require the filing by any party litigant in the suit of an undertaking to pay the costs of the suit, and the court in its discretion may assess reasonable costs, including reasonable attorneys’ fees, against any party litigant in the suit,
having due regard to the merits and good faith of the claims or defenses made by the party litigant. This Section does not apply to a suit by the Trustee, a suit by a Holder pursuant to Section 7.07 or a suit by Holders of more than 10% in
principal amount of the Securities. 
 SECTION 7.12 Waiver of Stay or Extension Laws. The Corporation (to the extent it may lawfully
do so) shall not at any time insist upon, or plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law wherever enacted, now or at any time hereafter in force, which may affect the covenants or the
performance of this Indenture; and the Corporation (to the extent that it may lawfully do so) hereby expressly waives all benefit or advantage of any such law; and shall not hinder, delay or impede the execution of any power herein granted to the
Trustee, but shall suffer and permit the execution of every such power as though no such law had been enacted. 
  

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 ARTICLE 8 
 Trustee 
 SECTION 8.01 Duties of Trustee. (1) If an Event of Default has occurred and is
continuing, the Trustee shall exercise its rights and powers and use the same degree of care and skill in its exercise as a prudent person would exercise or use in the circumstances in the conduct of such person’s own affairs. 
 (2) Except during the continuance of an Event of Default known to the Trustee: 
 (a) the duties of the Trustee shall be determined solely by the express provisions of this Indenture and the Trustee need perform only
those duties that are specifically set forth in this Indenture and no others and no implied covenants or obligations shall be read into this Indenture; and 
 (b) in the absence of bad faith on its part, the Trustee may conclusively rely, as to the truth of the statements and the correctness of the opinions expressed therein, upon certificates or opinions furnished to the
Trustee and conforming to the requirements of this Indenture. However, the Trustee shall examine the certificates and opinions to determine whether or not they conform to the requirements of this Indenture. 
 (3) The Trustee shall not be relieved from liability for its own negligent action, its own negligent failure to act or its own willful misconduct, except
that: 
 (a) this paragraph does not limit the effect of paragraph (b) of this Section; 
 (b) the Trustee shall not be liable for any error of judgment made in good faith by a Trust Officer unless it is proved that the Trustee
was negligent in ascertaining the pertinent facts; and 
 (c) the Trustee shall not be liable with respect to any action it
takes or omits to take in good faith in accordance with a direction in writing received by it pursuant to Section 7.05. 
 (4) Every
provision of this Indenture that in any way relates to the Trustee is subject to paragraphs (1), (2), (3), (5), (6) (7) and (8) of this Section 8.01 and Section 8.02. 
 (5) The Trustee shall not be liable for interest on any money received by it except as the Trustee may agree with the Corporation. 
 (6) Money held in trust by the Trustee need not be segregated from other funds except to the extent required by law. 
  

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 (7) The Trustee shall not be deemed to know of any Default (other than as provided in Sections 7.01 and
7.02) or other fact or circumstances upon the occurrence of which it may be require to take action hereunder unless and until one of its Trust Officers receives written notice of or has actual knowledge thereof. 
 (8) No provision of this Indenture or the Security Agreement or the Intercreditor Agreement shall require the Trustee to expend or risk its own funds or
otherwise incur financial liability in the performance of any of its duties hereunder or in the exercise of any rights or powers if it shall have reasonable grounds for believing that repayment of such funds or adequate indemnity against such risks
or liabilities is not reasonably assured to it. 
 (9) Every provision of the Indenture relating to the conduct or affecting the liability or
affording protection to the Trustee shall be subject to the provisions of this Section and to the applicable provisions of the TIA. 
 SECTION 8.02 Rights of Trustee. (1) The Trustee may conclusively rely on, and shall be protected from acting or refraining from acting based upon, any document believed by it to be genuine and to have been signed or presented by the
proper person. The Trustee need not investigate any fact or matter stated in the document. 
 (2) Before the Trustee acts or refrains from
acting, it may require an Officers’ Certificate and/or an Opinion of Counsel, which shall comply with the provisions of Section 13.05. The Trustee shall not be liable for any action it takes or omits to take in good faith in reliance on
the Officers’ Certificate or Opinion of Counsel. 
 (3) The Trustee may act through agents and shall not be responsible for the
misconduct or negligence of any agent appointed with due care. 
 (4) The Trustee shall not be liable for any action it takes or omits to
take in good faith which it believes to be authorized or within its rights or powers provided that the Trustee’s conduct does not constitute negligence or bad faith. 
 (5) Unless otherwise specifically provided in this Indenture, any demand, request, direction or notice from the Corporation shall be sufficient if signed by an Officer. 
 SECTION 8.03 Individual Rights of Trustee. The Trustee in its individual or any other capacity may become the owner or pledgee of Securities and
may otherwise deal with the Corporation or its Affiliates with the same rights it would have if it were not Trustee. However, if the Trustee acquires any conflicting interest it must eliminate such conflict within 90 days, apply to the Commission
for permission to continue as Trustee or resign. Any Paying Agent, Registrar or co-registrar may do the same with like rights. However, the Trustee must comply with Sections 8.10 and 8.11. 
 SECTION 8.04 Trustee’s Disclaimer and Direction. The Trustee shall not be responsible for and makes no representation as to the validity or
adequacy of this Indenture, the Intercreditor Agreement, the Security Agreement or the Securities, it shall not be accountable for the Corporation’s use of the proceeds from the Securities, and it shall not be responsible for any statement of
the Corporation in this Indenture, pursuant to this Indenture or any document issued in connection with the sale of the Securities or in the Securities other than the Trustee’s certificate of authentication. 
  

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 SECTION 8.05 Notice of Default. If a Default or an Event of Default occurs and is continuing and
the Trustee has knowledge of such event, the Trustee shall mail to each Securityholder notice of the Default or Event of Default within 10 days after the occurrence thereof, unless such Default or Event of Default has been cured. Except in the case
of a Default in payment of principal of or interest on any Security, the Trustee may withhold the notice if and as long as a committee of its Trust Officers in good faith determines that withholding the notice is in the interests of Securityholders.

 SECTION 8.06 Reports by Trustee to Holders. Within 60 days after September 15, 2008, the Trustee shall, to the extent that any
of the events described in TIA Section 313(a) have occurred since the Effective Date, but not otherwise, shall mail to each Securityholder a brief report dated as of September 15 that complies with TIA Section 313(a). The Trustee also
shall comply with TIA Section 313(b). 
 SECTION 8.07 Compensation and Indemnity. The Corporation shall pay to the Trustee from
time to time reasonable compensation for its services. The Trustee’s compensation shall not be limited by any law on compensation of a trustee of an express trust. The Corporation shall reimburse the Trustee upon request for all reasonable
out-of-pocket expenses incurred or made by it in addition to the compensation for its services. Such expenses shall include the reasonable compensation and expenses, disbursements and advances of the Trustee’s agents and counsel. The
Corporation shall indemnify the Trustee against any and all loss, liability or expense (including attorneys’ fees) incurred by it without negligence or bad faith on its part in connection with the administration of this trust and the
performance of its duties hereunder. The Trustee shall promptly notify the Corporation promptly of any claim for which it may seek indemnity. Failure by the Trustee to so notify the Corporation shall not relieve the Corporation of its obligations
hereunder. The Corporation shall defend the claim and the Trustee may have separate counsel and the Corporation shall pay the fees and expenses of such counsel. The Corporation need not reimburse any expense or indemnify against any loss or
liability incurred by the Trustee through the Trustee’s own negligence or bad faith. 
 To secure the Corporation’s payment
obligations in this Section, the Trustee shall have a lien prior to the Securities on all money or property held or collected by the Trustee, except that held in trust to pay principal of and interest on particular Securities. Such Lien shall
survive the satisfaction and discharge of this Indenture. 
 The Corporation’s payment obligations pursuant to this Section shall
survive the discharge of this Indenture. When the Trustee incurs expenses after the occurrence of an Event of Default specified in subsection 7.01(8) or (9), the expenses are intended to constitute expenses of administration under the Bankruptcy
Law. 
 SECTION 8.08 Replacement of Trustee. The Trustee may resign at any time by so notifying the Corporation. The Holders of a
majority in principal amount of the Securities may remove the Trustee by so notifying the Trustee in writing and may appoint a successor Trustee. The Corporation may remove the Trustee if: 
 (1) the Trustee fails to comply with Section 8.10; 
  

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 (2) the Trustee is adjudged a bankrupt or insolvent; 
 (3) a receiver or other public officer takes charge of the Trustee or its property; or 
 (4) the Trustee otherwise becomes incapable of acting. 
 If the Trustee resigns or is removed or if a vacancy exists in the office of Trustee for any reason (the Trustee in such event being referred to herein as the retiring trustee) the Corporation shall promptly appoint a
successor Trustee. 
 A successor Trustee shall deliver a written acceptance of its appointment to the retiring Trustee and to the
Corporation. Immediately after receiving such acceptance, the retiring Trustee shall transfer all property held by it as Trustee to the successor Trustee, subject to the lien provided for in Section 8.07, the resignation or removal of the
retiring Trustee shall then become effective, and the successor Trustee shall have all the rights, powers and duties of the Trustee under this Indenture. A successor Trustee shall mail notice of its succession to each Securityholder. 
 If a successor Trustee does not take office within 60 days after the retiring Trustee resigns or is removed, the retiring Trustee, the Corporation or the
Holders of a majority in principal amount of the Securities may petition any court of competent jurisdiction for the appointment of a successor Trustee. 
 If the Trustee fails to comply with Section 8.10, any Securityholder may petition any court of competent jurisdiction for the removal of the Trustee and the appointment of a successor Trustee. 
 SECTION 8.09 Successor Trustee by Merger. If the Trustee consolidates with, merges or converts into, or transfers all or substantially all its
corporate trust business or assets to, another corporation or banking association, the resulting, surviving or transferee corporation without any further act shall be the successor Trustee. 
 In case at the time such successor or successors by merger, conversion or consolidation to the Trustee shall succeed to the trusts created by this
Indenture any of the Securities shall have been authenticated but not delivered, any such successor to the Trustee may adopt the certificate of authentication of any predecessor trustee, and deliver such Securities so authenticated; and in case at
that time any of the Securities shall not have been authenticated, any successor to the Trustee may authenticate such Securities either in the name of any predecessor hereunder or in the name of the successor to the Trustee; and in all such cases
such certificates shall have the full force which it is anywhere in the Securities or in this Indenture provided that the certificate of the Trustee shall have. 
  

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 SECTION 8.10 Eligibility; Disqualification. The Trustee shall at all times satisfy the
requirements of TIA Section 310(a)(1). The Trustee shall have a combined capital and surplus of at least $50,000,000 as set forth in its most recent published annual report of condition. The Trustee shall comply with TIA Section 310(b),
including the optional provision permitted by the second sentence of TIA Section 310(b)(9); provided, however, that there shall be excluded from the operation of TIA Section 310(b)(2) any indenture or indentures under which other
securities or certificates of interest or participation in other securities of the Corporation are outstanding if the requirement for such exclusions set forth in TIA Section 310(b)(1) are met. 
 SECTION 8.11 Preferential Collection of Claims Against Corporation. The Trustee shall comply with TIA Section 311(a), excluding any creditor
relationship listed in TIA Section 311(b). A Trustee who has resigned or been removed shall be subject to TIA Section 311(a) to the extent indicated. 
 ARTICLE 9 
 Satisfaction and Discharge of Indenture 
 SECTION 9.01 Discharge of Liability on Securities; Defeasance. (1) When (i) the Corporation delivers to the Trustee all outstanding
Securities (other than Securities replaced pursuant to Section 2.10) for cancellation or (ii) all outstanding Securities have become due and payable and the Corporation irrevocably deposits with the Trustee funds sufficient to pay at
maturity or upon redemption all outstanding Securities including interest thereon if any (other than Securities replaced pursuant to Section 2.10), and if in either case the Corporation pays all other sums payable hereunder by the Corporation,
then this Indenture shall, subject to Sections 9.01(3) and 9.06, cease to be of further effect. Upon satisfaction of the conditions set forth herein and upon the Corporation’s request (and at the Corporation’s expense), the Trustee shall
acknowledge satisfaction and discharge of this Indenture on demand of the Corporation accompanied by an Officers’ Certificate and an Opinion of Counsel and at the cost and expense of the Corporation. 
 (2) Subject to Sections 9.01(3), 9.02 and 9.06, the Corporation at any time may terminate (i) all its obligations under the Securities and this
Indenture (“legal defeasance option”) or (ii) its obligations under Sections 5.02 through 5.18 and the operation of Sections 7.01(3), 7.01(4), 7.01(5), 7.01(6), 7.01(7); 7.01(10) and 7.01(11) (with respect to Restricted Subsidiaries
and Subsidiary Guarantors) (“covenant defeasance option”). The Corporation may exercise its legal defeasance option notwithstanding its prior exercise of its covenant defeasance option. 
 If the Corporation exercises its legal defeasance option, the Securities may not be accelerated because of an Event of Default. If the Corporation
exercises its covenant defeasance option, the Securities, may not be accelerated because of an Event of Default specified in Sections 7.01(3), (4), (5), (6), (7), (10) and (11) (with respect to Restricted Subsidiaries and Subsidiary
Guarantors). If the Corporation exercises its legal defeasance option or its covenant defeasance option, each Subsidiary Guarantor, if any, shall be released from all its obligations with respect to its Subsidiary Guarantee. 
 Before or after a deposit, the Corporation may make arrangements satisfactory to the Trustee for the redemption of Securities at a future date in
accordance with Article 4. 
  

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 Upon satisfaction of the conditions set forth herein and upon request of the Corporation, the Trustee
shall acknowledge in writing the discharge of those obligations that the Corporation terminates. 
 (3) Notwithstanding clauses (1) and
(2) above, the Corporation’s obligations in Sections 2.03, 2.04, 2.05, 2.08, 2.09, 8.07, 8.08, 9.04, 9.05 and 9.06 shall survive until the Securities have been paid in full. Thereafter the Corporation’s obligations in Sections 8.07,
9.04 and 9.05 shall survive. 
 SECTION 9.02 Conditions to Defeasance. The Corporation may exercise its legal defeasance option or its
covenant defeasance option only if: 
 (1) the Corporation irrevocably deposits in trust with the Trustee money or U.S. Government
Obligations for the payment of principal and interest on the Securities to maturity or redemption, as the case may be; 
 (2) the Corporation
delivers to the Trustee a certificate from a nationally recognized firm of independent accountants expressing their opinion that the payments of principal and interest when due and without reinvestment on the deposited U.S. Government Obligations
plus any deposited money without investment will provide cash at such times and in such amounts (but not more than such amounts) as will be sufficient to pay principal and interest when due on all the Securities to maturity or redemption, as the
case may be; 
 (3) 123 days pass after the deposit is made and during the 123 day period no Event of Default specified in Sections 7.01(8)
or (9) (without giving effect to the period of time referred to therein) occurs which is continuing at the end of the period; 
 (4) no
Default or Event of Default has occurred and is continuing on the date of such deposit and after giving effect thereto; 
 (5) the
Corporation delivers to the Trustee an Opinion of Counsel to the effect that the trust resulting from the deposit does not constitute, or is qualified as, a regulated investment corporation under the Investment Corporation Act of 1940; 

(6) In the case of the legal defeasance option, the Corporation shall have delivered to the Trustee an Opinion of Counsel stating that (i) the
Corporation has received from, or there has been published by, the Internal Revenue Service a ruling, or (ii) since the date of this Indenture there has been a change in the applicable Federal income tax law, in either case to the effect that,
and based thereon such Opinion of Counsel shall confirm that, the Security holders will not recognize income, gain or loss for Federal income tax purposes as a result of such defeasance and will be subject to Federal income tax on the same amounts,
in the same manner and at the same times as would have been the case if such defeasance had not occurred; 
 (7) in the case of the covenant
defeasance option, the Corporation shall have delivered to the Trustee an opinion of Counsel to the effect that the Securityholders will not recognize income, gain or loss for Federal income tax purposes as a result of such covenant defeasance and
will be subject to Federal income tax on the same amounts, in the same manner and at the same times as would have been the case if such covenant defeasance had not occurred; and 
  

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 (8) the Corporation delivers to the Trustee an Officers’ Certificate and an Opinion of Counsel, each
stating that all conditions precedent to the defeasance and discharge of the Securities as contemplated by this Article 9 have been complied with. 
 SECTION 9.03 Application of Trust Money. The Trustee shall hold in trust money or U.S. Government Obligations deposited with it pursuant to Section 9.02. It shall apply the deposited money and the money from U.S. Government
Obligations through the Paying Agent and in accordance with this Indenture to the payment of principal of and interest on the Securities. 
 SECTION 9.04 Repayment to Corporation. The Trustee and the Paying Agent shall promptly turn over to the Corporation upon request any excess money or securities held by them at any time. 
 Subject to any applicable abandoned property law, the Trustee and the Paying Agent shall pay to the Corporation upon request any money held by them for
the payment of principal or interest that remains unclaimed for two years and, thereafter, Securityholders entitled to the money must look to the Corporation for payment as general creditors. 
 SECTION 9.05 Indemnity for Government Obligations. The Corporation shall pay and shall indemnify the Trustee against any tax, fee or other charge
imposed on or assessed against deposited U.S. Government Obligations or the principal and interest received on such U.S. Government Obligations. 
 SECTION 9.06 Reinstatement. If the Trustee or Paying Agent is unable to apply any money or U.S. Government Obligations in accordance with Article 9 by reason of any legal proceeding or by reason of any order or judgment of any court
or governmental authority enjoining, restraining or otherwise prohibiting such application, the Corporation’s obligations under this Indenture and the Securities and the obligations of the Subsidiary Guarantors under the Subsidiary Guarantees
shall be revived and reinstated as though no deposit had occurred pursuant to Article 9 until such time as the Trustee or Paying Agent is permitted to apply all such money or U.S. Government Obligations in accordance with this Article 9; provided,
however, that if the Corporation has made any payment of interest on or principal of any Securities because of the reinstatement of its obligations, the Corporation shall be subrogated to the rights of the Holders of such Securities to receive such
payment from the money or U.S. Government Obligations held by the Trustee or Paying Agent. 
 ARTICLE 10 
 Amendments, Supplements and Waivers 
 SECTION 10.01 Without Consent of Holders. The Corporation and the Trustee may amend or supplement this Indenture or the Securities or the Security Agreement or the Intercreditor Agreement without notice to or consent of any
Securityholder: 
 (1) to cure any ambiguity, omission, defect or inconsistency; 
  

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 (2) to provide for the assumption by a successor Person of the obligations of the Corporation or any
Subsidiary Guarantor under this Indenture in accordance with the provisions of Article 6; 
 (3) to provide for uncertificated Securities in
addition to or in place of certificated Securities; 
 (4) to add Guarantees with respect to the Securities, including any Subsidiary
Guarantees; 
 (5) to provide for additional Collateral; or 
 (6) to add to the covenants of the Corporation or any Subsidiary Guarantor for the benefit of the Holders or to surrender any right or power herein conferred upon the Corporation or any Subsidiary Guarantor; or

 (7) to comply with any requirements of the SEC in connection with the qualification of the Indenture under the TIA if such qualification
is required; or 
 (8) to make any change that does not adversely affect the rights of any Securityholder. 
 Upon the Corporation’s request, after receipt by the Trustee of a resolution of the Board of Directors authorizing the execution of any amended or
supplemental indenture, the documents described in Section 10.06 hereof, the Trustee shall join with the Corporation in the execution of any amended or supplemental indenture authorized or permitted by the terms of this Indenture and to make
any further appropriate agreements and stipulations that may be contained in any such amended or supplemental indenture, but the Trustee shall not be obligated to enter into an amended or supplemental indenture that affects its own rights, duties or
immunities under this Indenture or otherwise. 
 SECTION 10.02 With Consent of Holders. The Corporation may amend or supplement this
Indenture or the Securities or the Security Agreement or the Intercreditor Agreement without notice to any Securityholder but with the written consent of the Holders of at least a majority in principal amount of the Securities. Subject to Sections
7.04 and 7.07 hereof, the Holders of a majority in principal amount of the Securities may waive any past default or compliance by the Corporation with any provision of this Indenture or the Securities or the Security Agreement or the Intercreditor
Agreement without notice to any Securityholder. However, without the consent of each Securityholder affected, an amendment, supplement or waiver, including a waiver pursuant to Section 7.04, may not: 
 (1) reduce the amount of Securities whose Holders must consent to an amendment, supplement or waiver; 
 (2) reduce the rate of or extend the time for payment of interest on any Security; 
  

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 (3) reduce the principal of or extend the fixed maturity of any Security; 
 (4) alter or waive any of the provisions in Article 3 or any of the provisions with respect to the stated redemption of the Securities; 
 (5) make any Security payable in money other than that stated in the Security; 
 (6) make any change in Section 7.04 or 7.07 or this Section; 
 (7) waive any Default in the payment of principal of or interest on any Security; 
 (8) agree to release all
or substantially all of the Collateral or subordinate the first priority Lien and security interest of the Securityholders in the Collateral; or 
 (9) permit the payment priority of any Indebtedness to be senior to the Securities. 
 Upon the Corporation’s request and after
receipt by the Trustee of a resolution of the Board of Directors authorizing the execution of any supplemental indenture, evidence of the Holders’ consent, and the documents described in Section 10.06 hereof, the Trustee shall join with
the Corporation in the execution of any amended or supplemental indenture unless such amended or supplemental indenture affects the Trustee’s own rights, duties or immunities under this Indenture or otherwise, in which case the Trustee may in
its discretion, but is not obligated to, enter into such amended or supplemental indenture. 
 It shall not be necessary for the consent of
the Holders under this Section 10.02 to approve the particular form of any proposed amendment, supplement or waiver, but it shall be sufficient if such consent approves the substance thereof. 
 After an amendment under this Section becomes effective, the Corporation shall mail to Securityholders a notice briefly describing such amendment. The
failure to give such notice to all Securityholders, or any defect therein, shall not impair or affect the validity of an amendment otherwise validly adopted under this Section 10.02. 
 SECTION 10.03 Compliance with Trust Indenture Act. If at the time of an amendment to or Supplement of this Indenture or the Securities, this
Indenture shall be qualified under the TIA, every amendment to or supplement of this Indenture or the Securities shall comply with the TIA as then in effect. 
 SECTION 10.04 Revocation and Effect of Consents. A consent to an amendment, supplement or waiver by a Holder of a Security shall bind the Holder and every subsequent Holder of that Security or portion of the
Security that evidences the same debt as the consenting Holder’s Security, even if notation of the consent is not made on the Security. However, any such Holder or subsequent Holder may revoke the consent as to such Holder’s Security or
portion of the Security if the Trustee receives the notice of revocation before the date the amendment, supplement or waiver becomes effective. After an amendment, supplement or waiver becomes effective in accordance with Section 10.01 or
10.02, it shall bind every Securityholder. 
  

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 The Corporation may, but shall not be obligated to, fix a record date for the purpose of determining the
Securityholders entitled to give their consent or take any other action described above or required or permitted to be taken pursuant to this Indenture. If a record date is fixed, then notwithstanding the immediately preceding paragraph, those
Persons who were Securityholders at such record date (or their duly designated proxies), and only those Persons, shall be entitled to give such consent or to revoke any consent previously given or to take any such action, whether or not such Persons
continue to be Holders after such record date. No such consent shall be valid or effective for more than 90 days after such record date unless consents from Holders of the principal amount of Securities required hereunder for such amendment or
waiver to be effective shall also have been given and not revoked within such 90 day period. 
 SECTION 10.05 Notation on or Exchange of
Securities. If an amendment, supplement or waiver changes the terms of a Security, the Trustee may require the Holder of the Security to deliver it to the Trustee. The Trustee may place an appropriate notation on the Security regarding the
changed terms and return it to the Holder. Alternatively, if the Corporation or the Trustee so determines, the Corporation in exchange for the Security shall issue and the Trustee shall authenticate a new Security that reflects the changed terms.

 SECTION 10.06 Trustee To Sign Amendments. The Trustee shall sign any amendment, supplement or waiver authorized pursuant to this
Article if the amendment, supplement or waiver does not adversely affect the rights, duties, liabilities or immunities of the Trustee. If it does, the Trustee may but need not sign it. In signing such amendment, supplement or waiver the Trustee
shall be entitled to receive an indemnity satisfactory to it and to receive, and (subject to Section 8.01) shall be fully protected in relying upon, an Officers’ Certificate and an Opinion of Counsel stating that such amendment, supplement
or waiver is authorized or permitted by this Indenture. 
 SECTION 10.07 Payment for Consent. Neither the Corporation nor any
Affiliate of the Corporation shall, directly or indirectly, pay or cause to be paid any consideration, whether by way of interest, fee or otherwise, to any Holder for or as an inducement to any consent, waiver or amendment of any of the terms or
provisions of this Indenture or the Securities unless such consideration is offered to be paid to all Holders that so consent, waive or agree to amend in the time frame set forth in solicitation documents relating to such consent, waiver or
agreement. 
 ARTICLE 11 
 Concerning the Collateral 
 SECTION 11.01 Security Agreement. To secure the due and punctual payment of the principal
of and interest on the Securities when and as the same shall be due and payable, whether on a payment date, at maturity, by acceleration or otherwise, and interest on the overdue principal of and interest (to the extent permitted by law), if any, on
the Securities and performance of all other Obligations of the Corporation to the Holders or the Trustee under this Indenture and the Securities, according to the terms hereunder or thereunder, the Corporation and 

  

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each Subsidiary Guarantor has simultaneously with the execution of this Indenture granted a security interest to the Collateral Agent, of its right, title
and interest in and to the Collateral pursuant to the Security Agreement in the manner and to the extent therein provided. The Collateral Agent is hereby authorized and directed to execute and deliver such Security Agreement in the form presented to
it. Each Holder, by accepting a Security, authorizes the Collateral Agent to enter into and perform the Security Agreement, and agrees to all of the terms and provisions of the Security Agreement, as the same may be in effect or may be amended from
time to time in accordance with the terms hereof. Simultaneously with the execution of this Indenture, the Trustee is hereby authorized and directed to enter into the Intercreditor Agreement. The Corporation will and will cause each Subsidiary
Guarantor to, execute, acknowledge and deliver to the Trustee and the Collateral Agent, such further assignments, transfers, assurances or other instruments as the Trustee or the Collateral Agent may require or request, and will do or cause to be
done all such acts and things as may be necessary or proper, or as may be reasonably required by the Trustee, or the Collateral Agent, including the furnishing of an Opinion of Counsel, to assure and confirm to the Trustee or the Collateral Agent
the security interest in the Collateral contemplated hereby and by the Security Agreement, or by any part thereof, as from time to time constituted, so as to render the same available for the security and benefit of this Indenture and of the
Securities secured hereby, according to the intent and purposes herein expressed. The Corporation shall take, and shall cause its Subsidiary Guarantors to take, any and all actions reasonably required to cause the Security Agreement to create and
maintain, as security for the Obligations of the Corporation and the Subsidiary Guarantors hereunder, a valid and enforceable perfected first-priority Lien and security interest in the Collateral and subject to no other Liens other than the
Permitted Liens, in favor of the Collateral Agent for the benefit of the Claimholders (as defined in the Security Agreement) in accordance with the Security Agreement and the Intercreditor Agreement. Except as permitted in this Indenture, the
Security Agreement, and the Intercreditor Agreement, neither the Corporation nor any of its Subsidiaries shall take or omit to take any action that would have the result of adversely affecting or impairing the Lien on the Collateral in favor of the
Collateral Agent for the benefit of the Claimholders. 
 SECTION 11.02 Payment of Expenses. On demand of the Collateral Agent, the
Corporation forthwith shall pay or satisfactorily provide for payment of reasonable compensation, reimbursement of expenses and indemnification of the Collateral Agent, and all such sums shall be a lien upon the Collateral and shall be secured
thereby. 
 SECTION 11.03 Opinions as to Recording, etc.  
 (a) the Corporation shall furnish to the Trustee, promptly after the execution of this Indenture and the Security Agreement, an Opinion of
Counsel stating that in the opinion of such counsel the Security Agreement has been properly recorded and filed so as to make effective the Lien intended to be created thereby, and reciting the details of such action or stating that in the opinion
of such counsel no such action is necessary to make such Lien effective; and 
 (b) the Corporation shall furnish to the
Trustee within one hundred twenty (120) days after January 1 in each year, beginning with January 1, 2009, an Opinion of Counsel, dated such date, either (i) stating that in the opinion of such Counsel, action has 

  

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been taken with respect to the recording, registering, filing, re-recording, re-registering or re-filing of all supplemental indentures, financing
statements, continuation statements or other instruments of further assurance as is necessary to maintain the perfection of the Lien under the Security Agreement in all Collateral that can perfected by filing or control, and reciting the details
thereof, or (ii) stating that no such action is necessary to maintain such Lien. 
 SECTION 11.04 Release of Collateral; Additional
Liens. (a) Subject to subsections (b), (c) and (d) of this Section 11.04, all of the Collateral in the case of clauses (4), (5) and (6) and in the case of clauses (1), (2), (3) the portion of Collateral
specified therein, may be released from the Lien and security interest created by the Security Agreement at any time or from time to time as provided hereby. Upon the request of the Corporation pursuant to an Officers’ Certificate delivered to
the Trustee certifying that all conditions precedent hereunder and in the Security Agreement and Intercreditor Agreement have been met and without the consent of any Holder, the Corporation and the Subsidiary Guarantors will be entitled to a release
of the security interests on assets included in the Collateral from the Liens securing the Securities under any one or more of the following circumstances: 
 (1) to enable the Corporation or any Subsidiary Guarantor to consummate any sale, lease, conveyance or other disposition of any assets or rights permitted or not prohibited under Section 5.05 hereof, provided
that no release shall occur in connection with any transfer or disposition of Collateral from the Corporation or any Restricted Subsidiary to the Corporation or any Restricted Subsidiary or if an Event of Default shall have occurred and be
continuing; 
 (2) in respect of assets subject to a Permitted Lien in respect of Purchase Money Obligations; 
 (3) if all of the stock of any Subsidiary of the Corporation that is pledged as part of the Collateral is released in connection with a sale or
disposition permitted hereunder or if any Subsidiary that is a Subsidiary Guarantor is released from its Guarantee in accordance with the terms hereof, such Subsidiary’s assets will also be released; 
 (4) pursuant to an amendment, waiver or supplement in accordance with Article 10 hereof; 
 (5) upon payment in full in cash of the principal of, accrued and unpaid interest, if any on the Securities and all other Obligations under this
Indenture, the Securities, and the Security Agreement then due and owing; or 
 (6) upon compliance with the conditions precedent set forth
in Article 9 hereof for covenant defeasance. 
 provided that, (x) in the case of a release requested under clauses (1), (2) or
(3), above, the Collateral Agent concurrently releases the Liens in favor of Hillside under the Hillside Credit Agreement with respect to the affected assets and that if there are any other subordinated Liens on such assets, such subordinated Liens
are similarly released; (y) the proceeds from the Collateral shall be applied in accordance with the Indenture and the Intercreditor Agreement and (z) the Liens securing the Securities will continue in the proceeds of the released
Collateral in the same order of priority to the extent the proceeds are not used to prepay the Securities. 
  

 53 

 Upon receipt of such Officer’s Certificate, the Trustee shall direct the Collateral Agent to
execute, deliver or acknowledge any necessary or proper instruments of termination, satisfaction or release to evidence the release of any Collateral permitted to be released pursuant to this Indenture. 
 (b) No Collateral may be released from the Lien and security interest created by the Security Agreement pursuant to the provisions of the Security
Agreement unless the Officer’s Certificate required by this Section 11.04 has been delivered to the Trustee and the Trustee has given a direction to the Collateral Agent to release such Collateral. 
 (c) At any time when a Default or Event of Default has occurred and is continuing no release of Collateral pursuant to the provisions of the Security
Agreement will be effective as against the Securityholders, except as otherwise expressly permitted in the Intercreditor Agreement and the Security Agreement. 
 (d) The release of any Collateral from the terms of this Indenture and the Security Agreement shall not be deemed to impair the security under this Indenture in contravention of the provisions hereof if and to the
extent the Collateral is released pursuant to the terms of the Security Agreement and this Indenture. The Corporation will cause TIA Section 313(b), relating to reports, and TIA Section 314(d), relating to the release of property or
securities from the Lien and security interest of the Security Agreement and relating to the substitution therefor of any property or securities to be subjected to the Lien and security interest of the Security Agreement, to be complied with. Any
certificate or opinion required by TIA Section 314(d) may be made by an Officer of the Corporation except in cases where TIA Section 314(d) requires that such certificate or opinion be made by an independent Person, which Person will be an
independent engineer, appraiser or other expert selected or approved by the Trustee and the Collateral Agent in the exercise of reasonable care, and in accordance with TIA. 
 SECTION 11.05 Certificates and Opinions of Counsel. To the extent applicable, the Corporation will furnish to the Trustee and the Collateral
Agent, prior to each proposed release of Collateral pursuant to the Security Agreements: 
 (a) all documents, if any,
required by TIA Section 314(d); and 
 (b) an Opinion of Counsel, which may be rendered by internal counsel to the
Corporation, to the effect that such accompanying documents constitute all documents required by TIA Section 314(d). 
 The Trustee may,
to the extent permitted by Sections 8.01 and 8.02 hereof, accept as conclusive evidence of compliance with the foregoing provisions the appropriate statements contained in such documents and such Opinion of Counsel. 
 SECTION 11.06 Certificates of the Trustee. In the event that the Corporation wishes to release Collateral in accordance with the Indenture at a
time when the Trustee is not itself also the Collateral Agent and has delivered the certificates and documents required by the 

  

 54 

 
Security Agreement and Sections 11.04, 11.05, 11.06 and 11.07 hereof, the Trustee will determine whether it has received all documentation required by TIA
Section 314(d) in connection with such release and, based on such determination and the Opinion of Counsel delivered pursuant to Section 11.05(b), will deliver a certificate to the Collateral Agent setting forth such determination.

 SECTION 11.07 Authorization of Actions to be Taken by the Trustee under the Intercreditor Agreement. The Trustee may, in its sole
discretion and without the consent of the Securityholders, take all actions it deems necessary or appropriate to (a) enforce any of the terms of the Intercreditor Agreement and (b) collect and receive any and all amounts payable in respect
of the obligations of the Corporation and the Subsidiary Guarantors hereunder. Subject to the provisions of this Indenture, the Security Agreement and the Intercreditor Agreement, the Trustee shall have power to institute and to maintain such suits
and proceedings as it may deem expedient to prevent any impairment of the Collateral by any acts which may be unlawful or in violation of the Security Agreement, this Indenture or, the Intercreditor Agreement and such suits and proceedings as the
Trustee may deem expedient to preserve or protect its interest and the interests of the Securityholders in the Collateral (including power to institute and maintain suits or proceedings to restrain the enforcement of or compliance with any
legislative or other governmental enactment, rule or order that may be unconstitutional or otherwise invalid if the enforcement of, or compliance with such enactment, rule or order would impair the security interest hereunder or be prejudicial to
the interests of the Holders or of the Trustee). 
 SECTION 11.08 Authorization of Receipt of Funds by the Trustee under the Security
Agreement and Intercreditor Agreement. The Trustee is authorized to receive any funds for the benefit of Holders distributed under the Security Agreement and the Intercreditor Agreement, and to make further distributions of such funds to the
Holders according to the provisions of this Indenture. 
 SECTION 11.09 Collateral Agent. Except as otherwise explicitly provided
herein or in the Security Agreement (but subject in the case of the Trustee to Section 8.01(1)), neither the Trustee nor the Collateral Agent nor any of their respective officers, directors, employees or agents shall be liable for failure to
demand, collect or realize upon any of the Collateral or for any delay in doing so or shall be under any obligation to sell or otherwise dispose of any Collateral upon the request of any other Person or to take any other action whatsoever with
regard to the Collateral or any part thereof. The Collateral Agent shall be accountable only for amounts that it actually receives as a result of the exercise of such powers, and neither the Collateral Agent nor any of its officers, directors,
employees or agents shall be responsible for any act or failure to act hereunder, except for its own willful misconduct, negligence or bad faith. 
 ARTICLE 12 
 Guarantee 
 SECTION 12.01 Guarantees. Each Subsidiary Guarantor hereby unconditionally and irrevocably Guarantees, jointly and severally, to each Holder and to the Trustee and its successors and assigns (a) the full and punctual payment of
principal of and interest on the Securities when due, whether at maturity, by acceleration, by redemption or otherwise, and all 

  

 55 

 
other monetary obligations of the Corporation under this Indenture and the Securities and (b) the full and punctual performance within applicable grace
periods of all other obligations of the Corporation under this Indenture and the Securities (all the foregoing being hereinafter collectively called the “Guaranteed Obligations”). Each Subsidiary Guarantor further agrees that the
Guaranteed Obligations may be extended or renewed, in whole or in part, without notice or further assent from such Subsidiary Guarantor and that such Subsidiary Guarantor will remain bound under this Article 12 notwithstanding any extension or
renewal of any Guaranteed Obligation. 
 Each Subsidiary Guarantor waives notice of any default under the Securities or the Guaranteed
Obligations. The obligations of each Subsidiary Guarantor hereunder shall be unconditional, irrespective of the validity, regularity or enforceability of the Securities or this Indenture and shall not be discharged or impaired or otherwise affected
by (1) the failure of any Holder or the Trustee to assert any claim or demand or to enforce any right or remedy against the Corporation or any other Person (including any Subsidiary Guarantor) under this Indenture, the Securities or any other
agreement or otherwise; (2) any extension or renewal of any thereof; (3) any rescission, waiver, amendment or modification of any of the terms or provisions of this Indenture, the Securities or any other agreement; (4) any failure to
perfect or maintain its Lien on any Collateral, the release of any security held by any Holder or the Trustee for the Guaranteed Obligations or any of them; (5) the failure of any Holder or the Trustee to exercise any right or remedy against
any other Subsidiary Guarantor of the Guaranteed Obligations; (6) any default, failure or delay, willful or otherwise, in the performance of the Guaranteed Obligations; (7) except as set forth in Section 5.05, any change in the
ownership of such Subsidiary Guarantor; (8) the recovery of any judgment against the Corporation or any action to enforce the same; or (9) any other act or thing or omission or delay to do any other act or thing which may or might in any
manner or to any extent vary the risk of such Subsidiary Guarantor or would otherwise operate as a discharge of such Subsidiary Guarantor as a matter of law or equity. Each Subsidiary Guarantor further waives diligence, presentment, demand of
payment, filing of claims with a court in the event of insolvency or bankruptcy of the Corporation, any right to require a proceeding first against the Corporation, protest, notice (except to the extent as required by law under a provision that
cannot be waived) and all demands whatsoever and covenants that the Guarantee will not be discharged except by complete performance of the Guarantees Obligations. Each Subsidiary Guarantor agrees that, in the event of default in the payment of
principal (or premium, if any) or interest on such Securities, whether at their stated maturity, by acceleration, upon redemption, purchase or otherwise, legal proceedings may be instituted by the Trustee on behalf of, or by, the Holders of such
Securities, subject to the terms and conditions set forth in this Indenture, directly against each of the Subsidiary Guarantors to enforce the Guarantee without first proceeding against the Corporation. 
 Each Subsidiary Guarantor further agrees that its Subsidiary Guarantee herein constitutes a Guarantee of payment, performance and compliance when due
(and not a Guarantee of collection) and waives any right to require that any resort be had by any Holder or the Trustee to any security held for payment of the Guaranteed Obligations. 
 Except as expressly set forth in Sections 9.01(2), 12.02 and 12.07 hereof, the obligations of each Subsidiary Guarantor hereunder shall not be subject to
any reduction, limitation, impairment or termination for any reason, including any claim of waiver, release, surrender, alteration or compromise, and shall not be subject to any defense of setoff, counterclaim, recoupment or termination whatsoever
or by reason of the invalidity, illegality or unenforceability of the Guaranteed Obligations or otherwise. 
  

 56 

 Each Subsidiary Guarantor further agrees that its Guarantee herein shall continue to be effective or be
reinstated, as the case may be, if at any time payment, or any part thereof, of principal of or interest on any Guaranteed Obligation is rescinded or must otherwise be restored by any Holder or the Trustee upon the bankruptcy or reorganization of
the Corporation or otherwise. 
 In furtherance of the foregoing and not in limitation of any other right which any Holder or the Trustee has
at law or in equity against any Subsidiary Guarantor by virtue hereof, upon the failure of the Corporation to pay the principal of or interest on any Guaranteed Obligation when and as the same shall become due, whether at maturity, by acceleration,
by redemption or otherwise, or to perform or comply with any other Guaranteed Obligation, each Subsidiary Guarantor hereby promises to and shall, upon receipt of written demand by the Trustee, forthwith pay, or cause to be paid, in cash, to the
Holders or the Trustee an amount equal to the sum of (1) the unpaid amount of such Guaranteed Obligations, (2) accrued and unpaid interest on such Guaranteed Obligations (but only to the extent not prohibited by law) and (3) all other
monetary Guaranteed Obligations of the Corporation to the Holders and the Trustee. 
 Each Subsidiary Guarantor agrees that, as between it,
on the one hand, and the Holders and the Trustee, on the other hand, (1) the maturity of the Guaranteed Obligations hereby may be accelerated as provided in Article 7 for the purposes of such Subsidiary Guarantor’s Subsidiary Guarantee
herein, notwithstanding any stay, injunction or other prohibition preventing such acceleration in respect of the Guaranteed Obligations Guaranteed hereby, and (2) in the event of any declaration of acceleration of such Guaranteed Obligations as
provided in Article 7, such Guaranteed Obligations (whether or not due and payable) shall forthwith become due and payable by such Subsidiary Guarantor for the purposes of this Section and the Guarantee. 
 Each Subsidiary Guarantor also agrees to pay any and all reasonable costs and expenses (including attorneys’ fees) incurred by the Trustee or any
Holder in enforcing any rights under this Section. 
 If any Holder or the Trustee is required by any court or otherwise to return to the
Corporation, the Subsidiary Guarantors or any custodian, trustee, liquidator or other similar official acting in relation to either the Corporation or the Subsidiary Guarantors, any amount paid either to the Trustee or such Holder, this Subsidiary
Guarantee, to the extent theretofore discharged, will be reinstated in full force and effect. 
 SECTION 12.02 Limitation on
Liability. Any term or provision of this Indenture to the contrary notwithstanding, the maximum aggregate amount of the Guaranteed Obligations Guaranteed hereunder by any Subsidiary Guarantor shall not exceed the maximum amount that can be
hereby Guaranteed without rendering this Indenture, as it relates to such Subsidiary Guarantor, voidable under applicable law relating to fraudulent conveyance or fraudulent transfer or similar laws affecting the rights of creditors generally. To
effectuate the foregoing intention, 

  

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the Trustee, the Holders and the Subsidiary Guarantors hereby irrevocably agree that the obligations of such Subsidiary Guarantor will, after giving effect
to such maximum amount and all other contingent and fixed liabilities of such Subsidiary Guarantor that are relevant under such laws, and after giving effect to any collections from, rights to receive contribution from or payments made by or on
behalf of any other Subsidiary Guarantor in respect of the Guaranteed Obligations, result in the Guaranteed Obligations under its Subsidiary Guarantee not constituting a fraudulent transfer or conveyance. 
 SECTION 12.03 Successors and Assigns. This Article 12 shall be binding upon each Subsidiary Guarantor and its successors and assigns and shall
inure to the benefit of the successors and assigns of the Trustee and the Holders and, in the event of any transfer or assignment of rights by any Holder or the Trustee, the rights and privileges conferred upon that party in this Indenture and in
the Securities shall automatically extend to and be vested in such transferee or assignee, all subject to the terms and conditions of this Indenture. 
 SECTION 12.04 No Waiver. Neither a failure nor a delay on the part of either the Trustee or the Holders in exercising any right, power or privilege under this Article 12 shall operate as a waiver thereof, nor
shall a single or partial exercise thereof preclude any other or further exercise of any right, power or privilege. The rights, remedies and benefits of the Trustee and the Holders herein expressly specified are cumulative and not exclusive of any
other rights, remedies or benefits which either may have under this Article 12 at law, in equity, by statute or otherwise. 
 SECTION 12.05
Modification. No modification, amendment or waiver of any provision of this Article 12, nor the consent to any departure by any Subsidiary Guarantor therefrom, shall in any event be effective unless the same shall be in writing and signed by
the Trustee, and then such waiver or consent shall be effective only in the specific instance and for the purpose for which given. No notice to or demand on any Subsidiary Guarantor in any case shall entitle such Subsidiary Guarantor to any other or
further notice or demand in the same, similar or other circumstances. 
 SECTION 12.06 Waiver of Subrogation. Until payment in full is
made of the Securities and all other obligations of the Corporation to the Holders or the Trustee hereunder and under the Securities, each Subsidiary Guarantor irrevocably waives any claim or other rights it will acquire against the Corporation that
arise from the existence, payment, performance or enforcement of such Subsidiary Guarantor’s obligations under the Guarantee and this Indenture, including, without limitation, any right of subrogation, reimbursement, exoneration,
indemnification and any right to participate in any claim or remedy of any Holder of the Securities against the Corporation, whether or not such claim, remedy or right arises in equity, or under contract, statute or common law, including, without
limitation, the right to take or receive from the Corporation, directly or indirectly, in cash or other property or by set-off or any other manner, payment or security on account of such claim or other rights. If any amount shall be paid to any
Subsidiary Guarantor in violation of the preceding sentence and the Securities shall not have been paid in full, such amount shall have been deemed to have been paid to such Subsidiary Guarantor for the benefit of, and held in trust for the benefit
of, the Holders of the Securities and shall forthwith be paid to the Trustee for the benefit of such Holders to be credited and applied upon the Securities, whether matured or unmatured, in accordance with the terms of 

  

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this Indenture. Each Subsidiary Guarantor acknowledges that it will receive direct and indirect benefits from the financing arrangements contemplated by this
Indenture and that the waiver set forth in this Section 12.06 is knowingly made in contemplation of such benefits. 
 SECTION 12.07
Release of Subsidiary Guarantor. A Subsidiary Guarantor will be released from its obligations under this Article 12 (other than any obligation that may have arisen under Section 12.08): 
 (1) upon the sale (including any sale pursuant to any exercise of remedies by a holder of Indebtedness of the Corporation or of such Subsidiary
Guarantor) or other disposition (including by way of consolidation or merger) of a Subsidiary Guarantor; 
 (2) upon the sale or disposition
of all or substantially all the assets of such Subsidiary Guarantor other than pursuant to Article 6; 
 (3) upon the designation of such
Subsidiary Guarantor as an Unrestricted Subsidiary in accordance with the terms of this Indenture unless any of the Collateral is then owned by such Subsidiary Guarantor; 
 (4) upon defeasance of the Securities or discharge of this Indenture pursuant to Article 9; 
 provided,
however, that in the case of clauses (1) and (2) above, (i) such sale or other disposition is made to a Person other than the Corporation or a Subsidiary of the Corporation, (ii) such sale or disposition is otherwise permitted by
this Indenture and (iii) the Corporation provides an Officers’ Certificate to the Trustee to the effect that the Corporation will comply with its obligations under Section 5.05. At the request of the Corporation, the Trustee shall
execute and deliver an appropriate instrument evidencing such release. 
 SECTION 12.08 Contribution. Each Subsidiary Guarantor that
makes a payment under its Subsidiary Guarantee shall be entitled upon payment in full of all Guaranteed Obligations under this Indenture to a contribution from each other Subsidiary Guarantor in an amount equal to such other Subsidiary
Guarantor’s pro rata portion of such payment based on the respective net assets of all the Subsidiary Guarantors at the time of such payment determined in accordance with GAAP. The allocation among Subsidiary Guarantors of their obligations as
set forth in this Section 12.08 shall not be construed in any way to limit the liability of any Subsidiary Guarantor under this Indenture or under the Subsidiary Guarantee. 
 SECTION 12.09 Waiver of Stay, Extension or Usury Laws. Each Subsidiary Guarantor, covenants (to the extent that it may lawfully do so) that it
will not at any time insist upon, plead, or in any manner whatsoever claim or take the benefit or advantage of, any stay or extension law or any usury law or other law that would prohibit or forgive such Subsidiary Guarantor from performing the
Guarantee as contemplated herein, wherever enacted, now or at any time hereafter in force, or which may affect the covenants or the performance of this Indenture; and (to the extent that it may lawfully do so) each Subsidiary Guarantor expressly
waives all benefit or advantage of any such law, and covenants that it will not hinder, delay or impede the execution of any power herein granted to the Trustee, but will suffer and permit the execution of every such power as though no such law had
been enacted. 
  

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 ARTICLE 13 
 Miscellaneous 
 SECTION 13.01 Trust Indenture Act Controls. If this Indenture is otherwise
required to be qualified under the TIA, this Indenture shall be subject to the provisions of the TIA that are required to be a part of this Indenture, and shall, to the extent applicable, be governed by such provisions. If any provision of this
Indenture modifies any TIA provision that may be so modified, such TIA provision shall be deemed to apply to this Indenture as so modified. If any provision of this Indenture excludes any TIA provisions that may be so excluded, such TIA provision
shall be excluded from this Indenture. Except as otherwise expressly incorporated herein and subject to the first sentence of this paragraph, the provisions of the TIA are hereby expressly excluded from this Indenture. 
 SECTION 13.02 Notices. Any notice or communication shall be sufficiently given if in writing and delivered in person or mailed by first-class mail
addressed as follows: 
 if to the Corporation or any Subsidiary Guarantee: 
 Ampex Corporation 
 1228 Douglas Avenue

 Redwood City, CA 94063 
 Attention: Joel Talcott 
 Telecopier: (650) 367-3440 
 if to the Trustee: 
 U.S. Bank National
Association 
 One Federal Street - 10th Floor 
 Boston, MA 02110 
 Telecopier: (617) 603-6667 
 Re: Ampex 12% Senior Secured Notes due 2009 
 The Corporation, any Subsidiary Guarantor or the Trustee by notice to the other may designate additional or different addresses for subsequent notices or communications. 
 Any notice or communication mailed to a Securityholder shall be mailed to the Securityholder at the Securityholder’s address as it appears on the
registration books of the Registrar and shall be sufficiently given if so mailed within the time prescribed. 
 Failure to mail a notice or
communication to a Securityholder or any defect in it shall not affect its sufficiency with respect to other Securityholders. If a notice or communication is mailed in the manner provided above, it is duly given, whether or not the addressee
receives it. 
 SECTION 13.03 Communication by Holders with Other Holders. Securityholders may communicate pursuant to TIA
Section 312(b) with other Securityholders with respect to their rights under this Indenture or the Securities. The Corporation, any Subsidiary Guarantor, the Trustee, the Registrar and anyone else shall have the protection of TIA
Section 312(c). 
  

 60 

 SECTION 13.04 Certificate and Opinion as to Conditions Precedent. Upon any request or application
by the Corporation to the Trustee to take any action or refrain from taking any action under this Indenture, the Corporation shall furnish to the Trustee upon the Trustee’s request: 
 (1) an Officers’ Certificate in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of the signers, all
conditions precedent, if any, provided for in this Indenture relating to the proposed action have been complied with; and 
 (2) an Opinion
of Counsel in form and substance reasonably satisfactory to the Trustee stating that, in the opinion of such counsel, all such conditions precedent have been complied with. 
 SECTION 13.05 Statements Required in Certificate or Opinion. Each certificate or opinion with respect to compliance with a covenant or condition
provided for in this Indenture shall include: 
 (1) a statement that the person making such certificate or opinion has read such covenant or
condition; 
 (2) a brief statement as to the nature and scope of the examination or investigation upon which the statements or opinions
contained in such certificate or opinion are based; 
 (3) a statement that, in the opinion of such person, he has made such examination or
investigation as is necessary to enable him to express an informed opinion as to whether or not such covenant or condition has been complied with; and 
 (4) a statement as to whether or not, in the opinion of such person, such covenant or condition has been complied with. 
 SECTION 13.06 When Treasury Securities Disregarded. In determining whether the Holders of the required principal amount of Securities have concurred in any direction, waiver or consent, Securities owned by the
Corporation or by any person directly or indirectly controlling or controlled by or under direct or indirect common control with the Corporation shall be disregarded and deemed not to be outstanding, except that for the purpose of determining
whether the Trustee shall be protected in relying on any such direction, waiver or consent, only Securities which the Trustee knows are so owned shall be so disregarded. Also, subject to the foregoing, only Securities outstanding at the time shall
be considered in any such determination. 
 SECTION 13.07 Rules by Trustee, Paying Agent and Registrar. The Trustee may make
reasonable rules for action by or a meeting of Securityholders. The Registrar and the Paying Agent may make reasonable rules for their functions. 
 SECTION 13.08 Legal Holidays. A “Legal Holiday” is a Saturday, a Sunday or a day on which banking institutions are not required to be open in the State of New York, in the State of Minnesota, or in the Commonwealth of
Massachusetts. If a payment date is a Legal Holiday, payment shall be made on the next succeeding day that is not a Legal Holiday, and no interest shall accrue for the intervening period. If a regular record date is a Legal Holiday, the record date
shall not be affected. 
  

 61 

 SECTION 13.09 Governing Law. The laws of the State of New York shall govern this Indenture and the
Securities without giving effect to applicable principles of conflicts of law to the extent that the application of the laws of another jurisdiction would be required thereby. 
 SECTION 13.10 No Recourse Against Others. No director, officer, employee or stockholder, as such, of the Corporation shall have any liability for
any obligations of the Corporation or any Subsidiary Guarantor under the Securities or this Indenture or for any claim based on, or in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder shall
waive and release all such liability. 
 SECTION 13.11 Successors. All agreements of the Corporation in this Indenture and the
Securities shall bind its successor. All agreements of the Trustee in this Indenture shall bind its successor. 
  

 62 

 SECTION 13.12 Counterparts. This Indenture may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 
 [Signature Page Follows] 
  

 63 

 IN WITNESS WHEREOF, the undersigned have executed, or have caused to be executed, this Indenture on the date first
written above. 
  

			
	AMPEX CORPORATION, a Delaware corporation
		
	By:	 	/s/ D. Gordon Strickland
		 	Name: D. Gordon Strickland
		 	Title: President & Chief Executive Officer
	
	SUBSIDIARY GUARANTORS:
	
	AMPEX DATA SYSTEMS CORPORATION, a Delaware corporation
		
	By:	 	/s/ Lawrence Chiarella
		 	Name: Lawrence Chiarella
		 	Title: President
	
	AMPEX DATA INTERNATIONAL CORPORATION, a Delaware corporation
		
	By:	 	/s/ Lawrence Chiarella
		 	Name: Lawrence Chiarella
		 	Title: President
	
	AMPEX INTERNATIONAL SALES CORPORATION, a California corporation
		
	By:	 	/s/ Lawrence Chiarella
		 	Name: Lawrence Chiarella
		 	Title: President
	
	AMPEX FINANCE CORPORATION, a Delaware corporation
		
	By:	 	/s/ D. Gordon Strickland
		 	Name: D. Gordon Strickland
		 	Title: President

 [SIGNATURE PAGE TO AMENDED
AND RESTATED INDENTURE] 

			
	U.S. BANK NATIONAL ASSOCIATION as Trustee
		
	By:	 	/s/ Karen R. Beard
		 	Name: Karen R. Beard
		 	Title: Vice President

 [SIGNATURE PAGE TO AMENDED
AND RESTATED INDENTURE] 

 EXHIBIT A 
 CUSIP NO. 032092 AD0 
 [FORM OF FACE OF SECURITY] 
 UNLESS AND UNTIL IT IS EXCHANGED IN WHOLE OR IN PART FOR SECURITIES IN DEFINITIVE FORM, THIS SECURITY MAY NOT BE TRANSFERRED EXCEPT AS A WHOLE BY THE DEPOSITORY TO A
NOMINEE OF THE DEPOSITORY, OR BY THE DEPOSITORY OR ANY SUCH NOMINEE TO A SUCCESSOR DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR DEPOSITORY. UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK
CORPORATION (“DTC”), TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO. OR SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED
REPRESENTATIVE OF DTC (AND ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS
WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN INTEREST HEREIN. 
 TRANSFERS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO
TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF CEDE & CO. OR TO A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS OF PORTIONS OF THIS GLOBAL SECURITY SHALL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE
RESTRICTIONS SET FORTH IN SECTIONS 2.08 and 2.09 OF THE INDENTURE. 
 No. 
 $3,658,080 
 AMPEX CORPORATION 
 12% Senior Secured Note Due 2009 
 Ampex Corporation, a Delaware corporation, promises to pay to
CEDE & Co., or registered assigns, the principal sum of Three Million Six Hundred Fifty Eight Thousand and Eighty Dollars on October 3, 2009. 
 Payment Dates: March 31, June 30, September 30 and December 31 commencing December 31, 2008. 

 Record Dates: March 1, June 1, September 1 and December 1, commencing
December 1, 2008. 
 Additional provisions of this Security are set forth on the following pages of this Security. 
 Dated: October 3, 2008 
  

			
	AMPEX CORPORATION, a Delaware Corporation
		
	By: 	 	 
		 	President
		
		 	 
		 	Assistant Secretary

  

			
	 TRUSTEE’S CERTIFICATE OF AUTHENTICATION

  

	 Dated: 
	 [SEAL] 

  

			
	 U.S. BANK NATIONAL ASSOCIATION,
 as Trustee, certifies that this is one of the Securities referred to in the Indenture.

		
	by 	 	 
		 	Authorized Signatory

  

 2 

 [FORM OF REVERSE SIDE OF SECURITY] 
 12% Senior Secured Note Due 2009 
 Capitalized terms used herein without definition
shall have the meanings ascribed to them in the Amended and Restated Indenture dated as of October 3, 2008 between Ampex Corporation, a Delaware corporation (the “Corporation”); the Subsidiary Guarantors; and U.S. Bank National
Association, as trustee (“Trustee”), as amended from time to time in accordance with its terms (the “Indenture”), to which Indenture reference is hereby made for a statement of respective rights, limitations of rights, duties,
obligations and immunities thereunder of the Corporation, the Trustee and the Holders of the Securities, and of the terms upon which the Securities are, and are to be, authenticated and delivered. 
  

	 	(1)	Interest 

 The Corporation promises to pay interest on the
principal amount of this Security at the rate per annum shown above for the three-month period ending March 31, June 30, September 30 or December 31 of each year next preceding the applicable payment date. The
Corporation will pay interest to Holders of record at the close of business on the March 1, June 1, September 1 and December 1 immediately preceding the payment date on
March 31, June 30, September 30 or December 31 of each year, commencing December 31, 2008. Interest on the Securities will accrue from the most recent date to which interest has been paid or, if no interest has
been paid, from the Issue Date. Interest will be computed on the basis of a 360-day year of twelve 30-day months. The Corporation shall pay interest on overdue principal (including any redemption price) at the rate borne by the Securities plus
1% per annum, and it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) at the same rate to the extent lawful. 
  

	 	(2)	Mandatory Prepayment 

 In addition to interest payments as
set forth in paragraph 1 above, the Securities are subject to mandatory prepayment payable under the circumstances set forth in Sections 3.02, 3.04, 3.05 and 3.06 of the Indenture. 
  

	 	(3)	Method of Payment 

 The Corporation will pay interest on
the Securities (except defaulted interest) or, to the persons who are registered holders of Securities at the close of business on the March 1, June 1, September 1 or December 1 next preceding the payment date even if
Securities are canceled after the Record Date and on or before the payment date. Holders must surrender Securities to a Paying Agent to collect amounts due upon final maturity of the Securities. The Corporation will pay principal and interest in
money of the United States that at the time of payment is legal tender for payment of public and private debts. The Corporation will make all payments in respect of a certificated Security (including principal, premium and interest) by mailing a
check to the registered address of each Holder thereof; provided however, at its option, the Corporation may pay principal and interest by wire transfer to an account designated in writing by the Holder. 
  

 3 

	 	(4)	Paying Agent and Registrar 

 Initially, Trustee will act as
Paying Agent and Registrar. The Corporation may appoint and change any Paying Agent, Registrar or co-registrar without prior notice to any holder, but will promptly notify the Trustee of any change. The Corporation or any of its Subsidiaries may act
as Paying Agent, Registrar or co-registrar. 
  

	 	(5)	Indenture 

 The Corporation issued the Securities under the
Indenture. The Securities and the Indenture are not qualified under the Trust Indenture Act of 1939 (15 U.S. Code Section 77aaa-77bbbb) as in effect on the date of the Indenture (the “Act”) and the terms of the Securities will include
only those provisions of the TIA made part of the Indenture by express reference to the TIA. The Securities are subject to all such terms, and Securityholders are referred to the Indenture and the Act for a statement of those terms. 
 The Securities are general obligations of the Corporation. The Indenture imposes certain limitations on the payment of dividends and other distributions
by the Corporation and certain of its Subsidiaries, the sale or transfer of assets, the sale or transfer of shares of stock of certain of its Subsidiaries, the incurrence of debt by the Corporation and certain of its Subsidiaries and transactions
with affiliates. 
  

	 	(6)	Guaranty 

 The payment by the Corporation of the principal
of, and premium and interest on, the Securities is fully and unconditionally guaranteed on a joint and several basis by each of the Subsidiary Guarantors to the extent set forth in the Indenture. 
  

	 	(7)	Seniority 

 Except as expressly permitted in the Indenture
the Securities are senior to all current and future Indebtedness of the Corporation. The Corporation is further prohibited in the manner set forth in the Indenture from issuing additional senior or pari passu Indebtedness or granting senior or pari
passu liens. 
  

	 	(8)	Optional Redemption 

 The Corporation may redeem the
Securities at any time as a whole, or from time to time in part, at a redemption price equal to 100% of the principal amount to be redeemed plus accrued interest to the redemption date. 
  

	 	(9)	Notice of Redemption 

 Notice of redemption will be mailed
at least 30 days but not more than 60 days before the redemption date to each Holder of Securities to be redeemed at the Holder’s registered address. If money sufficient to pay the redemption price and accrued interest on all Securities to be
redeemed on the redemption date is deposited with the Paying Agent prior to the redemption date, on and after such date, interest ceases to accrue on such Securities or portions of them. Securities in denominations larger than $1,000 may be redeemed
in part but only in whole multiples of $1,000. 
  

 4 

	 	(10)	Security 

 The Securities are secured by a first priority
(subject to certain exceptions) lien on the Collateral (as defined in Article 1 of the Indenture) pursuant to a Security Agreement described in the Indenture. 
  

	 	(11)	Denominations; Transfer; Exchange 

 The Securities are in
registered form without coupons in minimum denominations of $1. A Holder may transfer or exchange Securities in accordance with the Indenture. The Registrar may require a Holder, among other things, to furnish appropriate endorsements and transfer
documents and to pay any taxes and fees required by law or permitted by the Indenture. The Registrar need not transfer or exchange any Securities selected for redemption (except, in the case of a Security to be redeemed in part, the portion of the
Security not to be redeemed) or any Securities for a period of 15 days before a selection of Securities to be redeemed or before a payment date. 
  

	 	(12)	Persons Deemed Owners 

 The registered holder of this
Security may be treated as the owner of it for all purposes. 
  

	 	(13)	Unclaimed Money 

 If money for the payment of principal or
interest remains unclaimed for two years, the Trustee or Paying Agent shall pay the money back to the Corporation at its request unless an abandoned property law designates another person. After any such payment, Holders entitled to the money must
look only to the Corporation (unless abandoned property law designates another person) and not to the Trustee for payment. 
  

	 	(14)	Satisfaction and Discharge of Indenture 

 On the terms and
subject to certain conditions specified in the Indenture, the Corporation will be discharged from the Indenture and the Securities (other than certain specified provisions) or will be discharged from certain covenants under the Indenture and the
Securities upon deposit with the Trustee of moneys or U.S. Government Obligations sufficient to pay at maturity or upon redemption all Securities not previously delivered to the Trustee for cancellation, including principal and accrued interest and
all other sums then payable by the Corporation under the Indenture. 
  

	 	(15)	Amendment, Supplement, Waiver 

 Subject to certain
exceptions, (i) the Indenture or the Securities may be amended or supplemented with the written consent of the Holders of at least a majority in principal amount outstanding of the Securities, and (ii) any past default or noncompliance
with any 

  

 5 

 
provision may be waived with the written consent of the Holders of a majority in principal amount outstanding of the Securities. Subject to certain
exceptions, without the consent of any Securityholder, the Corporation and the Trustee may amend or supplement the Indenture or the Securities to cure any ambiguity, omission, defect or inconsistency, or to provide for the assumption by a successor
Person of the obligations of the Corporation or any Subsidiary Guarantor under this Indenture in accordance with the provisions of Article 6, or to provide for uncertificated Securities in addition to or in place of certificated Securities or to
make any change that does not adversely affect the rights of any Securityholder. 
  

	 	(16)	Defaults and Remedies 

 Each of the following is an Event
of Default: default for 5 days in payment of any interest on the Securities; default in payment of any principal of the Securities when the same becomes due and payable at stated maturity, upon redemption, upon declaration of acceleration or
otherwise; failure to apply Excess Cash Flow, distributions from the Intercreditor Agreement, or the Net Proceeds of any Equity Issuance or Net Available Cash from Asset Sales to prepay the Securities in the manner described in Article 3 and Article
5; failure to otherwise redeem or purchase or prepay any Securities when required; failure to comply with certain covenants addressing change of control, merger or the Hillside Credit Agreement; failure by the Corporation for 10 days to comply with
any of its other covenants and agreements in the Indenture relating to SEC reports, limitations on the indebtedness of the Corporation and certain of its Subsidiaries, restricted payments and other distributions by the Corporation and certain of its
Subsidiaries, the sale or transfer of assets, the incurrence of debt by the Corporation and certain of its Subsidiaries, transactions with affiliates, designations of Unrestricted Subsidiaries, no senior or pari passu indebtedness or failure by the
Corporation to comply with its covenants in the Security Agreement and the Intercreditor Agreement; failure by the Corporation to comply with certain other covenants and agreements in the Indenture and the Securities for 15 days; certain payment
defaults with respect to other indebtedness of the Corporation or certain of its Subsidiaries, or other defaults that permits or results in the right of the acceleration of such other indebtedness, where the aggregate of such indebtedness exceeds
$100,000; any judgment or decree for the payment of money in excess of $500,000 entered against the Corporation or certain of its Subsidiaries, which remains outstanding after entry of such judgment; certain events of bankruptcy or insolvency; the
failure of a Subsidiary Guarantee to be in full force and effect; the security interest under the Security Agreement ceasing to be a valid and perfected first priority lien and a default or breach occurs and is continuing under the Hillside
Documents. If an Event of Default occurs and is continuing, the Holders of at least 25% in principal amount of the Securities may declare the principal of and accrued interest on all the Securities to be due and payable immediately other than Events
of Default upon certain events of bankruptcy or insolvency which shall cause the principal and accrued interest on all the Securities to become due and payable immediately. Securityholders may not enforce the Indenture or the Securities except as
provided in the Indenture. The Trustee may refuse to enforce the Indenture or the Securities unless it receives reasonable indemnity or security. Subject to certain limitations, Holders of a majority in principal amount of the Securities may direct
the Trustee in its exercise of any trust or power. The Trustee may withhold from Securityholders notice of any continuing Default or Event of Default (except a Default in payment of principal or interest) if it determines that withholding notice is
in their interest. 
  

 6 

	 	(17)	Trustee Dealings with the Corporation 

 Subject to certain
limitations imposed by the Act, the Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Securities and may otherwise deal with and collect obligations owed to it by the Corporation or its
affiliates and may otherwise deal with the Corporation or its affiliates with the same rights it would have if it were not Trustee. 
  

	 	(18)	No Recourse Against Others 

 A director, officer, employee
or stockholder, as such, of the Corporation or any of the Subsidiary Guarantors and the Trustee shall not have any liability for any obligations of the Corporation and the Subsidiary Guarantors under the Securities or the Indenture or for any claim
based on, in respect of or by reason of such obligations or their creation. By accepting a Security, each Securityholder waives and releases all such liability. The waiver and release are part of the consideration for the issue of the Securities.

  

	 	(19)	Authentication 

 This Security shall not be valid until
authenticated by the manual signature of the Trustee or an authenticating agent on the other side of this Security. 
  

	 	(20)	Abbreviations 

 Customary abbreviations may be used in the
name of a Securityholder or an assignee, such as TEN COM (=tenants in common), TEN ENT (=tenants by the entireties), JT TEN (=joint tenants with right of survivorship and not as tenants in common), CUST (=custodian), and U/G/M/A (=Uniform Gift to
Minors Act). 
  

	 	(21)	CUSIP Numbers 

 Pursuant to a recommendation promulgated by
the Committee on Uniform Security Identification Procedures the Corporation has caused CUSIP numbers to be printed on the Securities and has directed the Trustee to use CUSIP numbers in notices of redemption as a convenience to Security holders. No
representation is made as to the accuracy of such numbers either as printed on the Securities or as contained in any notice of redemption and reliance may be placed only on the other identification numbers placed thereon. 
 The Corporation will furnish to any Securityholder upon written request and without charge to such Holder a copy of the Indenture which has in it the
text of this Security in larger type. Requests may be made to: Ampex Corporation, 1228 Douglas Avenue, Redwood City, CA 94063-3199; Attention: Joel Talcott (Telecopier No. (650) 367-3440). 
  

 7 

 TABLE OF CONTENTS 
  

			
	 	  	Page

 OPTION OF HOLDER TO ELECT PURCHASE 
 If you wish to have this Note purchased by the Corporation pursuant to Section 5.10 of the Indenture, check the Box: { } 
 If you wish to have a portion of this Note purchased by the Corporation pursuant to Section 5.10 of the Indenture, state the amount: 
  

					
		 		 	$______________
		
	Dated: __________________	 	Your Signed: ___________________________________
		 		 	(Sign exactly as name appears on the other side of this Security)
			
	Dated: __________________	 	By: 	 	______________________________________________
		 		 	NOTICE: To be signed by an executive officer

 NOTICE: Signature(s) must be guaranteed by an institution which is a participant in the Securities Transfer Agent
Medallion Program (“STAMP”) or similar program. 
  

 -i- 

 ASSIGNMENT FORM 
 To assign this Security, fill in the form below: 
 I or we assign and transfer this Security to 
 ________________________________________ 
 (insert assignee’s soc. sec.
or tax I.D. no.) 
  
 ____________________________________________________ 
 (Print or type assignee’s name, address and zip code) 
 and irrevocably
appoint _____________________________________________ agent to transfer this Security on the books of the Corporation. The agent may substitute another to act for him. 
  

					
	Dated: _______________________	 		 	Signature(s):
			
	 	 		 	  
		 		 	(Sign exactly as name appears on the other side of this Security)

 Signature Guarantee: ___________________ 
  

 -ii-Amended and Restated Hillside-Ampex/Sherborne Agreement

 EXHIBIT 10.1 
 NOTWITHSTANDING ANYTHING HEREIN TO THE CONTRARY, THE OBLIGATIONS HEREUNDER AND THE LIEN AND SECURITY INTEREST GRANTED PURSUANT TO THIS AGREEMENT ARE SUBJECT TO THE PROVISIONS OF THE COLLATERAL AGENCY AND INTERCREDITOR AGREEMENT, DATED AS
OF OCTOBER 3, 2008 (AS AMENDED, RESTATED, SUPPLEMENTED OR OTHERWISE MODIFIED FROM TIME TO TIME, THE “INTERCREDITOR AGREEMENT”), BY AND AMONG AMPEX CORPORATION (“AMPEX”), THE SUBSIDIARIES OF AMPEX PARTY THERETO, AS SUBSIDIARY
GUARANTORS, HILLSIDE CAPITAL INCORPORATED (“HILLSIDE”) IN ITS CAPACITY AS COLLATERAL AGENT FOR THE FIRST LIEN CLAIMHOLDERS AND SECOND LIEN CLAIMHOLDERS (AS SUCH TERMS ARE DEFINED THEREIN), U.S. BANK NATIONAL ASSOCIATION IN ITS CAPACITY AS
INDENTURE TRUSTEE UNDER THE INDENTURE FOR THE 12% SENIOR SECURED NOTES DUE 2009 OF AMPEX, AND HILLSIDE, AS LENDER UNDER THAT CERTAIN CREDIT AGREEMENT, DATED OF OCTOBER 3, 2008 BY AND AMONG AMPEX AND THE SUBSIDIARY GUARANTORS AND CERTAIN OTHER
PERSONS PARTY OR THAT MAY BECOME PARTY THERETO FROM TIME TO TIME. IN THE EVENT OF ANY CONFLICT BETWEEN THE TERMS OF THE INTERCREDITOR AGREEMENT AND THIS AGREEMENT, THE TERMS OF THE INTERCREDITOR AGREEMENT SHALL GOVERN AND CONTROL.

 AMENDED AND RESTATED HILLSIDE-AMPEX/SHERBORNE AGREEMENT 
 This Amended and Restated Hillside-Ampex/Sherborne Agreement (“Agreement”) is made this day of October 3, 2008, by and among
(i) Ampex Corporation (“Ampex”) and each other member of the Ampex Group (as hereinafter defined), (ii) Hillside Capital Incorporated and each other member of the Limited Hillside Group (as hereinafter defined) and
(iii) Sherborne Holdings Incorporated (“Sherborne”) and each other member of the Sherborne Group (as hereinafter defined). 
 RECITALS 
 WHEREAS, Ampex, f/k/a Ampex Incorporated, is the contributing sponsor, within the meaning of 29 U.S.C.
Section 1301(a)(13), of the Employees’ Retirement Plan of Ampex Corporation (“Systems Plan”); and 
 WHEREAS, Ampex Media
Holdings Incorporated (“Ampex Media”) is the contributing sponsor, within the meaning of 29 U.S.C. Section 1301(a)(13), of the Ampex Media Corporation Retirement Plan (“Media Plan”) (the Systems Plan and the Media Plan,
together, the “Plans”); and 

 WHEREAS, the Pension Benefit Guaranty Corporation (“PBGC”) asserts that each of the following
persons or entities (and each of their subsidiaries) is a member of a Controlled Group (as hereinafter defined) of which Ampex and/or Ampex Media is a member: Ampex Corporation; Xepma I Inc.; Xepma II Inc.; Xepma III Inc.; Xepma IV Inc.; NH Holding
Incorporated; Sherborne Group Incorporated; Sherborne Holdings Incorporated; Buffalo Color Corporation; NH Bond Corp.; Newhill Partners, L.P.; Hillside Capital Incorporated; Hillside Industries Incorporated; Hillside Financial Incorporated; Hillside
Delaware Incorporated; T. Hillside C. Incorporated; Hillside Newspapers Incorporated; PLK Liquidating Corporation; Plaskon Products International Sales Corporation; Teepak International, Inc.; Teepak, Inc.; Teepak Plastics, Inc.; Teepak Acquisition
Corp.; Teepak New Europe; Teepak International II, Inc.; Teepak International, Inc.; Teepak Investments, Inc.; Teepak Nederlands, B.V.; Teepak Produktie, N.V.; Teepak Industries, Inc.; and Bosley, B.V. (collectively, “Asserted Ampex
Group”); and 
 WHEREAS, Hillside Capital Incorporated, Hillside Industries Incorporated; Hillside Financial Incorporated; Hillside
Delaware Incorporated; T. Hillside C. Incorporated; Hillside Newspapers Incorporated; PLK Liquidating Corporation; Plaskon Products International Sales Corporation; Teepak International, Inc.; Teepak, Inc.; Teepak Plastics, Inc.; Teepak Acquisition
Corp.; Teepak New Europe; Teepak International II, Inc.; Teepak International, Inc.; Teepak Investments, Inc.; Teepak Nederlands, B.V.; Teepak Produktie, N.V.; Teepak Industries, Inc.; and Bosley, B.V assert that they are not, collectively or
separately, members of a Controlled Group of which Ampex or Ampex Media is a member; and 
 WHEREAS, the PBGC asserts that if either or both
of the Plans were to terminate under 29 U.S.C. Section 1341 or Section 1342, each entity in the Asserted Ampex Group would be jointly and severally liable as follows: (1) to PBGC for the liability described in 29 U.S.C.
Section 1362(b); (2) to the trustee of such terminated Plan(s) for the liability described in 29 U.S.C. Section 1362(c); and (3) to PBGC for the liability described in 29 U.S.C. Sections 1306-07 (collectively, “Pension
Obligations”); and 
 WHEREAS, as of March 1, 1994, the PBGC asserted that in the weeks and months after such date, events or
transactions might have occurred, including but not limited to a proposed restructuring of the debt obligations of Ampex (then known as Ampex Incorporated) and the proposed reorganization of NH Holding Incorporated (“NHI”) in its pending
Chapter 11 case in the U.S. Bankruptcy Court for the District of Delaware, which could have resulted in one or more of the members of the Asserted Ampex Group ceasing to be a member of a Controlled Group of which Ampex and/or Ampex Media is a member
and, therefore, ceasing to have joint and several liability for the Pension Obligations, if any; and 
 WHEREAS, in view of the possibility
that such an event or transaction might have occurred shortly after March 1, 1994, the PBGC considered initiating action to terminate either or both of the Plans under 29 U.S.C. Section 1342(a)(4); and 
 WHEREAS, the PBGC and the entities in the Asserted Ampex Group entered into an agreement dated March 14, 1994 (the “Interim Agreement”),
which provided, inter alia, that if an entity in the Asserted Ampex Group which was a party thereto was a member of a Controlled Group with Ampex and Ampex Media on the date of the Interim Agreement, such member would continue to be treated as a
member of such Controlled Group through May 2, 1994 (the “Term of the Interim Agreement”) in order to allow the parties to discuss the possibility of entering into an agreement that would alleviate certain concerns of the PBGC
regarding a possible breakup of the Asserted Ampex Group; and 
  

 2 

 WHEREAS, effective April 21, 1994, May 21, 1994, August 21,
1994, September 21, 1994, October 17, 1994 and November 17, 1994, the parties to the Interim Agreement (including NHI with respect to the April 21, 1994 agreement and otherwise excluding NHI) entered into successive
agreements amending and extending the Term of the Interim Agreement, the last such extension being to and including November 22, 1994; and 
 WHEREAS, effective May 21, 1994, June 27, 1994, August 15, 1994, September 20, 1994, October 19, 1994 and November 17, 1994, NHI and the PBGC entered into agreements parallel to those
entered into by the other parties in the Interim Agreement and the successive extensions thereof; and 
 WHEREAS, the PBGC, and each of the
members of the Ampex Group, the Limited Hillside Group and the Sherborne Group have entered into a joint settlement agreement (the “Joint Settlement Agreement”), effective November 22, 1994, which provides, among other things, for the
Limited Hillside Group to be contractually obligated to pay certain amounts in connection with the Plans, if such amounts are not paid by any member of the Ampex Group, in consideration of the PBGC’s agreement not to seek involuntary
termination of the Plans prior to the date on which the Asserted Ampex Group might be severed; and 
 WHEREAS, the Hillside Group desires to
be reimbursed by the Sherborne Group and the Ampex Group for liabilities it may incur pursuant to the Joint Settlement Agreement referred to above; and 
 WHEREAS, Ampex, each other member of the Ampex Group, Hillside Capital Incorporated, each other member of the Limited Hillside Group, Sherborne and each other member of the Sherborne Group have entered into a
Hillside-Ampex/Sherborne Agreement, dated December 1, 1994, as amended by a First Amendment to Hillside-Ampex/Sherborne Agreement, dated as of November 30, 1995, a Second Amendment to Hillside-Ampex/Sherborne Agreement, dated as of
September 13, 2002, a Third Amendment to Hillside-Ampex/Sherborne Agreement, dated as of March 2, 2004, and a Fourth Amendment to Hillside-Ampex/Sherborne Agreement, dated as of June 30, 2004 (as so amended, the “Original
Agreement”); and 
 WHEREAS, Ampex and its U.S. subsidiaries (collectively the “Debtors”) commenced voluntary cases under
chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) in the United States District Court for the Southern District of New York (the “Bankruptcy Court”) and the Debtors have continued to operate their business
and manage their property as debtors-in-possession pursuant to Sections 1107 and 1108 of the Bankruptcy Code; and 
 WHEREAS, by order dated
July 31, 2008, the Bankruptcy Court confirmed the “First Modified Third Amended Joint Chapter 11 Plan of Reorganization for Ampex Corporation and its Affiliated Debtors” dated July 31, 2008 (the “Plan of
Reorganization”) in accordance with Section 1129 of the Bankruptcy Code; and 
  

 3 

 WHEREAS, pursuant to the Plan of Reorganization, Ampex, as borrower, and the other Debtors, as
guarantors, are entering into a Credit Agreement, dated as of the date hereof, with Hillside Capital Incorporated, as lender; and 
 WHEREAS,
the parties hereto desire to amend and restate the Original Agreement in its entirety, effective as of the date hereof, to read in full as follows: 
 NOW, THEREFORE, in consideration of the foregoing and of the mutual covenants and agreements set forth herein, the receipt, adequacy and sufficiency of which are hereby acknowledged, and intending to be legally bound, each entity in the
Ampex Group, the Sherborne Group and the Limited Hillside Group hereby agree as follows: 
 ARTICLE I. 
 DEFINITIONS 
 Section 1.1.
Definitions. The following terms shall have the meaning set forth below: 
 1.01 “Active Trade or Business” shall mean any
entity that is actively engaged in a trade or business and in either of the immediately preceding two consecutive fiscal years has had Adjusted Net Income in excess of $5 million or gross revenues in excess of $30 million. 
 1.02 “Adjusted Net Income” shall mean net income determined before any expense for taxes, interest payments or pension contributions and
determined without regard to extraordinary items, noncash restructuring charges, nonrecurring accounting charges due to accounting changes and foreign exchange transactions, each determined in accordance with GAAP. 
 1.03 “Agreement” shall mean this Amended and Restated Hillside-Ampex/Sherborne Agreement, dated as of October 3, 2008. 
 1.04 “Ampex” shall mean Ampex Corporation (formerly known as Ampex Incorporated) and any successor thereto. 
 1.05 “Ampex Group” shall mean Ampex and any domestic subsidiary (whether or not incorporated) under Common Control with Ampex. 
 1.06 “Annual Contribution” shall mean the amount that must be contributed to a Plan on or prior to the Annual Due Date: 
 (i) In the case of any Plan Year beginning before January 1, 2008, in order to satisfy the minimum funding standard for the Plan for
the Plan Year such that the Plan will be determined not to have an accumulated funding deficiency for such Plan Year within the meaning of section 302(a) of ERISA and section 412(a) of the Code; and 
 (ii) In the case of any Plan Year beginning after December 31, 2007, in order to satisfy the requirement under section 302(a) of
ERISA and section 412(a) of the Code that the employer make contributions to or under the Plan for the Plan Year which, in the aggregate, are not less than the minimum required contribution determined under section 303 of ERISA and section 430 of
the Code for the Plan for the Plan Year. 
  

 4 

 1.07 “Annual Due Date” shall mean the date which is eight and one-half (8 1/2) months after the
last day of the applicable Plan Year, or in the event of a change in Applicable Law, the last day of a period after the end of a Plan Year in which contributions to the Plan(s) may be made for that Plan Year under ERISA and the Code. 
 1.08 “Applicable Law” shall mean all applicable laws, including, without limitation, ERISA, those relating to health, safety, wage and hour,
employee benefit plans, the environment, taxes, securities and labor, ordinances, judgments, decrees, injunctions, writs, decisions, and orders of any Government Authority and rules, regulations, orders, interpretations, licenses and permits of any
Government Authority. 
 1.09 “Bankruptcy Code” shall mean 11 U.S.C. Section 101 et. seq. 
 1.10 “Buffalo Color” shall mean the Buffalo Color Corporation (and its domestic subsidiaries) and any successor thereto. 
 1.11 “Business Day” shall mean any day excluding Saturday, Sunday and any day which shall be in the City of New York or in the District of
Columbia a legal holiday or a day on which banks are authorized or required by law or other governmental action to be closed. 
 1.12
“Calendar Year” shall mean the 12 calendar month period commencing each January 1. 
 1.13 “Code” shall mean the
Internal Revenue Code of 1986, as amended. 
 1.14 “Collateral Account” shall mean the account established and maintained pursuant
to section 4.3 of the Joint Settlement Agreement. 
 1.15 “Commences Liquidation” shall mean, with respect to any entity, any
action or process by which the entity (i) commences a voluntary liquidation or dissolution, except as part of a merger or consolidation with, or liquidation into another member of its Controlled Group, (ii) applies for or consents to the
appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator of all of its property, (iii) makes a general assignment for the benefit of creditors, (iv) commences a voluntary proceeding under the Bankruptcy
Code seeking liquidation, (v) files a petition seeking to take advantage of any other law relating to insolvency, winding-up, liquidation or taking any official corporate action for the purpose of effecting any of the foregoing or
(vi) fails to controvert in a timely or appropriate manner, or acquiesces in writing to, any involuntary petition filed against it seeking liquidation under the Bankruptcy Code or under Applicable Law. 
 1.16 “Common Control” shall have the same meaning as defined in section 4001(a)(14)(A) of ERISA and under rules found in 29 C.F.R.
§4001.3. 
 1.17 “Company Distribution” shall mean the payment by an entity in the Sherborne Group, of a dividend, partnership
distribution or management fee, or a payment in respect of the redemption of the entity’s stock or partnership interests (including partial redemptions), but shall not include: 
 (i) Preferred Stock Distributions; 
  

 5 

 (ii) any such payment by an entity to another member of the same Group; 
 (iii) any stock dividend consisting of equity securities of the company paying the dividend or any redemption of equity securities out of
the proceeds of the substantially contemporaneous sale of equity securities or solely for other equity securities of the redeeming company; 
 (iv) any management fees paid to Non-Affiliates; or 
 (v) any payment of compensation or
remuneration to an individual. All Company Distributions, other than cash, shall be valued at Fair Market Value on the date of distribution. 
 1.18 “Controlled Group” shall mean a group of trades or businesses, whether or not incorporated, which are under Common Control with each other. 
 1.19 “Credit Agreement” shall mean the Credit Agreement, dated as of October 3, 2008, by and among Ampex, the Subsidiary Guarantors (as defined therein) and Hillside. 
 1.20 “Demand Requirements” shall mean the order of and procedures related to the making of a demand on the members of the Sherborne Group for
payment of any Note or other obligation, as set forth in Section 3.1(c). 
 1.21 “ERISA” shall mean the Employee Retirement
Income Security Act of 1974, as amended. 
 1.22 “Fair Market Value” on a specified date shall mean: 
 (i) with respect to a publicly held security, the closing price at which the security is traded on the stock exchange, if any, on which
the security is primarily traded or, if the security is not then traded on a stock exchange, the closing price of the security as reported on the NASDAQ National Market System or, if the security is not then traded on the NASDAQ National Market
System, the average of the closing bid and asked prices at which the security is traded on the over-the-counter market, but if no such securities were traded on such date, then on the last previous date on which the security was so traded, or, if
none of the above are applicable, the value of the security as established for such date using any reasonable method of valuation; 
 (ii) with respect to an interest in a partnership or investment trust which is not publicly traded and is not managed or controlled by any party to this Agreement, the most recent value established by the general partner or trustee thereof;
and 
  

 6 

 (iii) with respect to all other property, the value determined by the Board of Directors
of the owner of the property, acting in good faith, provided that if Hillside or SGI reasonably objects, in writing, to such valuation within thirty (30) days of its receipt of notice of the valuation, the value of such property shall be
established at the owner of the property’s expense by an independent valuator selected by the owner of the property and approved by the objecting party, who is familiar with the type of property to be valued and who shall render a written
valuation report to the owner of the property and to the objecting party within sixty (60) days of his engagement and whose findings shall be binding on the parties hereto. 
 1.23 “Funding Waiver” shall mean a waiver of all or a portion of the minimum funding requirements for a Plan for a Plan Year issued by the
Secretary of the Treasury pursuant to section 303 of ERISA and section 412(d) of the Code (in the case of any Plan Year beginning before January 1, 2008) or section 302(c) of ERISA and section 412(c) of the Code (in the case of any Plan Year
beginning after December 31, 2007). 
 1.24 “GAAP” shall mean, at the time of any determination, generally accepted accounting
principles in the United States of America as then in effect. 
 1.25 “Government Authority” shall mean any Federal, state, county,
municipal, regional or other government authority, agency, board, body, instrumentality or court. 
 1.26 “Group” shall mean the
Ampex Group, the Hillside Group, the Sherborne Group or the Operating Sherborne Group, as the case may be. 
 1.27 “Guarantee”
shall mean the covenants of the Guarantors described in Section 3.1. 
 1.28 “Guarantor” shall mean each member of the Ampex
Group and the Sherborne Group, other than the Issuer. 
 1.29 “Hillside” shall mean Hillside Capital Incorporated and any successor
thereto. 
 1.30 “Hillside Group” shall mean, at any time, all entities under Common Control with Hillside. 
 1.31 “Holder” shall mean the person in whose name a Note or a share of Series A Preferred Stock has been issued or, if a Note or a share of
Series A Preferred Stock has been assigned, the assignee of such person. 
 1.32 “Issuer” shall mean Ampex, unless Ampex has ceased
to be a Substantial Entity, in which case “Issuer” shall mean a member of the Ampex Group which is a Substantial Entity, and if more than one such entity exists, the entity with the largest gross revenues for the immediately preceding
fiscal year, but if all of the members of the Ampex Group have ceased to be Substantial Entities, then “Issuer” shall mean SGI, unless SGI has ceased to be a Substantial Entity, in which case “Issuer” shall mean a member of the
Primary Sherborne Group which is a Substantial Entity, and if more than one such entity exists, the entity with the largest gross revenues for the immediately preceding fiscal year, but if all of the members of the Primary Sherborne Group have
ceased to be Substantial Entities, then “Issuer” shall mean a member of the Secondary Sherborne Group which is a Substantial Entity and if more than one such entity exists, the entity with the largest gross revenues for the immediately
preceding fiscal year, but if all of the members of the Ampex Group and the Sherborne Group have ceased to be Substantial Entities, then “Issuer” shall mean the member of the Ampex Group or the Sherborne Group with the largest gross
revenues for the immediately preceding year. 
  

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 1.33 “Limited Hillside Group” shall mean Hillside, Hillside Industries Incorporated, Teepak
International, Inc., any current or future domestic subsidiary of Teepak International, Inc. and any “Acquired Entity” as such term is defined in section 1.1(a) of the Joint Settlement Agreement. 
 1.34 “Loan Document” shall mean (i) any document evidencing, governing or securing an existing debt of SGI or Buffalo Color listed on
Exhibit B to the Original Agreement, a true and complete copy of which has been furnished to Hillside prior to the date hereof, or any document evidencing, governing or securing an existing debt of Media listed on Exhibit B to the Original
Agreement, a true and complete copy of which has been made available to Hillside prior to the date hereof, and (ii) any document which will be entered into after November 22, 1994 which shall evidence debt of Media, SGI or Buffalo Color.

 1.35 “Loan Document Limitations” shall mean the terms of, and the covenants contained in, the Loan Documents which would
restrict the incurrence of, the seniority of, the assets available for repayment of, or the extent to which an entity could be liable for or prepay, an Obligation; provided, however, that if a member of the Sherborne Group executes (A) any Loan
Document relating to any extension or refinancing of any indebtedness existing at November 22, 1994 of any member of the Sherborne Group, (B) any Loan Document relating to any indebtedness incurred after November 22, 1994 by any
member of the Sherborne Group, or (C) any amendment or modification of a Loan Document which exists at November 22, 1994, and such document (described in clauses (A), (B) or (C), above) contains any provision which purports
(i) to confer on such indebtedness (or any portion thereof) a right of repayment senior to, require any delay in the payment of, or restrict the amount of, the Obligations or (ii) to secure such indebtedness (or any portion thereof) by a
lien on any assets of any member of the Sherborne Group which does not also equally and ratably secure the Obligations, then any such term of or covenant contained in such Loan Document shall not be considered a Loan Document Limitation under this
Agreement, shall not be enforceable against any holder of any Obligations as such, shall not restrict the assets available for payment of any Obligation and shall not have any effect on the ability of any member of the Sherborne Group to incur or to
be liable for any payment or prepayment of any Obligation. Notwithstanding the foregoing, the items described in the following clauses (x), (y) and (z) constitute exceptions to the proviso contained in the first sentence of this subsection
1.35: (x) up to $10 million of indebtedness in the aggregate of one or more members of the Sherborne Group may be secured by liens which do not secure the Obligations, (y) Buffalo Color may incur up to $10 million (less the amount
outstanding pursuant to clause (x) above) of indebtedness which, in the event of default, is senior in right of repayment to the Obligations and (z) SGI may incur additional indebtedness up to $8 million secured by liens which do not
secure the Obligations so long as such indebtedness is payable to and held by another member of the Sherborne Group. 
 1.36 “Master
Trust” shall mean the Sherborne Group Master Trust and any successor trust or trusts in which Plan assets may be invested. 
  

 8 

 1.37 “Media” shall mean Ampex Media Holdings Incorporated and/or its subsidiaries and any
successors thereto. 
 1.38 “Media Plan” shall mean the Ampex Media Corporation Retirement Plan. 
 1.39 “Newhill Partners” shall mean Newhill Partners, L.P. and any successor thereto. 
 1.40 “NHI” shall mean NH Holding Incorporated. 
 1.41 “Non-Affiliates” shall mean individuals who, and entities which, are not controlled by or under common control with, and are not part of any group acting in concert which controls, directly or
indirectly, the applicable Group, person or entity. 
 1.42 “Note” shall mean the indebtedness evidenced by promissory notes
representing the Tranche A Loan and any Tranche D Loans. 
 1.43 “Obligations” shall mean the obligations (including future
contingent obligations) under this Agreement to the members of the Hillside Group of any one or more members of the Ampex Group and any one or more members of the Sherborne Group. 
 1.44 “Officer’s Certificate” shall mean a certificate signed by the chief executive officer or chief financial officer of an entity.

 1.45 “Operating Sherborne Group” shall mean SGI, Buffalo Color and each other member of the Sherborne Group that is a domestic
company primarily engaged in the production or sale of a product or service other than the investment of capital. 
 1.46 “PBGC”
shall mean the Pension Benefit Guaranty Corporation, a United States Government corporation, located at 1200 K Street, N.W., Washington, D.C. 20005, established under section 4002 of ERISA and responsible for the administration of Title IV of ERISA,
or any agency that may succeed to the functions exercised by the PBGC. 
 1.47 “Plan” shall mean the Media Plan or the Systems
Plan. 
 1.48 “Plan Sponsor” with respect to either of the Plans shall mean the contributing sponsor thereof (as defined under
section 4001(a)(13)(A) of ERISA) or its successor by merger or consolidation. 
 1.49 “Plan Year” shall mean the plan year (as such
term is used in sections 412 or 430 of the Code) of the Media Plan or the Systems Plan. 
 1.50 “Preferred Stock Distribution”
shall mean any mandatory payment of dividends on preferred stock or any mandatory payment associated with the redemption of preferred stock or warrants or the repurchase of common stock issued upon the conversion of preferred stock or the exercise
of warrants, to the extent such preferred stock and warrants were issued for fair value to, and such preferred stock, warrants and common stock are beneficially owned by, Non-Affiliates of the issuing company. 
  

 9 

 1.51 “Primary Sherborne Group” shall mean SGI, Buffalo Color and their domestic subsidiaries
under Common Control other than any member of the Ampex Group, AFC, NHI, Xepma I Inc. and Xepma IV Inc. 
 1.52 “Quarterly
Contribution” shall mean a required quarterly installment payment of the Annual Contribution to a Plan, as determined under section 302(e) of ERISA and section 412(m) of the Code (in the case of any Plan Year beginning before January 1,
2008) or section 303(j)(3) of ERISA and section 430(j)(3) of the Code (in the case of any Plan Year beginning after December 31, 2007). 
 1.53 “Quarterly Due Date” shall mean the date on which a Quarterly Contribution is due pursuant to section 302(e)(3) of ERISA and section 412(m)(3) of the Code (in the case of any Plan Year beginning before January 1, 2008),
or section 303(j)(3) (C) of ERISA and section 430(j)(3)(C) of the Code (in the case of any Plan Year beginning after December 31, 2007). 
 1.54 “Reporting Entity” shall mean each incorporated and unincorporated member of the Ampex Group and the Sherborne Group. 
 1.55 “Required Contribution” shall mean at any point in time an amount which must be paid to satisfy the requirement to make an Annual Contribution and/or a Quarterly Contribution, whichever is applicable. 
 1.56 “Secondary Sherborne Group” shall mean Sherborne, Newhill Partners and their domestic subsidiaries under Common Control at
November 22, 1994, other than the members of the Primary Sherborne Group and the Ampex Group, and AFC, NHI, Xepma I Inc. and Xepma IV Inc. 
 1.57 “Series A Preferred Stock” shall mean the Series A Redeemable Preferred Stock of Ampex. 
 1.58 “SGI” shall
mean Lanesborough Corporation (f/k/a Sherborne Group Incorporated) or any successor thereto. 
 1.59 “Sherborne” shall mean
Sherborne Holdings Incorporated and any successor thereto. 
 1.60 “Sherborne Group” shall mean all of the entities which are
members of either the Primary Sherborne Group or the Secondary Sherborne Group. 
 1.61 “Standard Termination” shall mean the
termination of a Plan in accordance with section 4041(b) of ERISA. 
 1.62 “Substantial Entity” shall mean an entity which is an
Active Trade or Business and which has not Commenced Liquidation. 
 1.63 “Systems Plan” shall mean the Employees’ Retirement
Plan of Ampex Corporation. 
  

 10 

 1.64 “Termination Contribution” shall mean a contribution to a Plan in an amount which enables
the Plan to be terminated in a Standard Termination. 
 1.65 “Termination Liability” shall mean the amount payable by a member of
the Limited Hillside Group under Article V of the Joint Settlement Agreement with respect to the termination of one or both Plans. 
 1.66
“Tranche A Loan” shall mean the Tranche A Loan as defined in the Credit Agreement. 
 1.67 “Tranche D Availability” shall
mean, at any time, the positive difference, if any, between $25,000,000 and the aggregate principal amount of all loans outstanding pursuant to the Credit Agreement at that time. 
 1.68 “Tranche D Loan” shall mean a Tranche D Loan as defined in the Credit Agreement. 
 Section 1.2. Accounting Terms. All accounting terms not specifically defined herein shall be construed in accordance with GAAP. 

Section 1.3. Terms Generally. The definitions in this Agreement shall apply equally to both the singular and plural forms of the terms
defined. 
 Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. All the
agreements or instruments defined in this Agreement shall mean such agreements or instruments as the same may from time to time be supplemented or amended or the terms thereof waived or modified to the extent permitted by, and in accordance with,
the terms hereof and thereof. All references herein to Articles, Sections and Exhibits shall be deemed references to Articles and Sections of, and Exhibits to, this Agreement unless the context shall otherwise require. The words “herein”,
“hereof”, “hereunder” and other words of similar import refer to this Agreement as a whole and not to any particular Article, Section or other subdivision unless clearly stated otherwise. 
 Section 1.4. References to Statutes. All references to Federal statutes and regulations refer to the provisions of the statute or regulation
as of the date hereof, and to any modification and successor provision thereof after the effective date of any amendment, renumbering or other modification thereto occurring after the date hereof. 
 ARTICLE II. 
 LIABILITY FOR PLANS; REPAYMENT
TO HILLSIDE 
 Section 2.1. Primary Liability for the Plans. Ampex and each member of the Ampex Group acknowledges and agrees
that pursuant to the provisions of ERISA, the Code, the Joint Settlement Agreement and this Agreement they are and shall be jointly and severally primarily liable for Required Contributions to, and Termination Liability for, the Plans. Ampex and
each member of the Ampex Group shall make such Required Contributions to the Plans as and when due from sources other than the members of the Hillside Group and the Sherborne Group, including, but not limited to, their available cash and cash
equivalents, and shall make all commercially reasonable efforts to obtain the funds necessary to satisfy such obligations from sources other than the members of the Hillside Group and the Sherborne Group. 
  

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 Section 2.2. Termination Liability and Termination Notes. 
 (a) If the PBGC involuntarily terminates one or both Plans after the date hereof, other than for a willful breach by any member of the Limited Hillside
Group of the Joint Settlement Agreement, and as a result thereof any member of the Limited Hillside Group incurs Termination Liability with respect to either Plan and makes a required payment on account thereof, each member of the Ampex Group and
the Sherborne Group shall be jointly and severally liable to Hillside or such other member of the Limited Hillside Group which made the payment for the immediate repayment of the amount of any Termination Liability. 
 (b) If the PBGC involuntarily terminates one or both Plans after the date hereof on account of a willful breach by a member of the Limited Hillside Group
of the Joint Settlement Agreement, and as a result thereof any member of the Limited Hillside Group incurs Termination Liability with respect to either Plan and makes a required payment on account thereof, each member of the Ampex Group and the
Sherborne Group shall be jointly and severally liable to Hillside or such other member of the Limited Hillside Group which made the payment for repayment of the amount of such Termination Liability, subject to the provisions of subsection (d).

 (c) At Hillside’s request, prior to the termination of the Joint Settlement Agreement Ampex or such other member of the Ampex Group
which may be the Plan Sponsor shall terminate the Systems Plan and/or the Media Plan under a Standard Termination. If Hillside requests that a Plan be terminated and no member of the Ampex Group or the Sherborne Group makes the Termination
Contribution, Hillside or another member of the Limited Hillside Group shall make the contribution and each member of the Ampex Group and the Sherborne Group shall be jointly and severally liable to Hillside or such other member of the Limited
Hillside Group which made the contribution for the amount of the Termination Contribution, subject to the provisions of subsection (d); 
 (d) With respect to any termination of one or both Plans under circumstances covered by subsections (b) or (c), the repayment obligation shall be evidenced by a (i) Tranche D Note, (ii) shares of Series A Preferred Stock or
(iii) a combination thereof which shall be issued by Ampex to Hillside or such other member of the Limited Hillside Group which made payment of the Termination Liability or the Termination Contribution, in the full amount of the Termination
Liability payment or the Termination Contribution, as the case may be, in accordance with the provisions of Section 2.3. 
 (e) One or
more members of the Ampex Group and/or the Sherborne Group, as and to the extent set forth below in clauses (i)-(vi), shall be jointly and severally liable to Hillside, subject to the Demand Requirements, for an amount equal to the full amount of
the potential Termination Liability for the Plans (as determined under the Joint Settlement Agreement as if the Plans had then terminated), whether or not any obligation to Hillside or any member of the Limited Hillside Group otherwise exists at the
time, in the event any of the following events or circumstances shall have occurred without the written consent of Hillside, which consent shall not be unreasonably withheld, and shall have continued unremedied for more than thirty (30) days:

 (i) as to each member of the Sherborne Group, if Buffalo Color sells substantially all of its assets to a Non-Affiliate and
does not retain unencumbered, or reinvest in a new Active Trade or Business within one year after the date of such sale, at least eighty percent (80%) of the net cash proceeds from the sale; 
  

 12 

 (ii) as to each member of the Ampex Group and the Sherborne Group, if any member of the
Ampex Group Commences Liquidation; 
 (iii) as to each member of the Sherborne Group, if any member of the Secondary Sherborne
Group Commences Liquidation; 
 (iv) as to each member of the Primary Sherborne Group, if SGI or Buffalo Color Commences
Liquidation; 
 (v) as to each member of the Sherborne Group, if any member of the Sherborne Group makes a Company
Distribution in excess of the amounts permitted under Section 4.3; or 
 (vi) as to each member of the Ampex Group and
the Sherborne Group, if Ampex (or another Plan Sponsor which is a member of the Ampex Group) initiates a distress termination of either Plan (in which case the obligation shall be an amount equal to the Termination Liability related to the
terminated Plan as determined under the Joint Settlement Agreement). 
 Notwithstanding the foregoing, any member of the Ampex Group or the
Sherborne Group may at any time avoid such liability to Hillside for the amount of the Termination Liability with respect to a Plan by making a Termination Contribution to such Plan. 
 (f) For purposes of this Section 2.2, (i) all liabilities of any member of the Sherborne Group under subsections (a), (b), (c) or
(e) shall be subordinated to any claim of the PBGC against members of the Sherborne Group for Termination Liability to the extent provided in the Joint Settlement Agreement, (ii) all liabilities of members of the Ampex Group and/or the
Sherborne Group under subsections (a), (b), (c) and (e) are subject to the limitations set forth in Section 3.1(d) to the extent applicable to such Group member and (iii) all liabilities of members of the Ampex Group and/or the
Sherborne Group under subsection (a), (b), (c) and (e) are subject to the Demand Requirements. 
 Section 2.3. Issuance of
Notes and Series A Preferred Stock. If any member of the Hillside Group makes a Required Contribution to a Plan, incurs Termination Liability with respect to a Plan and makes a required payment on account thereof or makes the Termination
Contribution to a Plan, each member of the Ampex Group and each member of the Sherborne Group shall be jointly and severally liable to Hillside or the member of the Hillside Group which made such contribution or payment, subject to the provisions of
this Agreement. To evidence such liability, Ampex will promptly issue to Hillside or its designee (i) a promissory note 

  

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evidencing the portion of such liability consisting of a Tranche D Loan (which portion shall be equal to the lesser of (x) the aggregate amount of such
liability and (y) the Tranche D Availability) and (ii) in the event and to the extent that the amount of such liability exceeds the principal amount of such Tranche D Loan, a number of shares of Series A Preferred Stock equal to the
quotient obtained by dividing the amount of such excess by $10,000.00. 
 Section 2.4. Deemed Payments. Any amount of a Tranche D
Loan loaned by a member of the Hillside Group to a member of the Ampex Group and any amount transferred from the Collateral Account to a Plan shall be deemed to be an amount paid by a member of the Hillside Group to a Plan for all purposes under
this Agreement. 
 ARTICLE III. 
 GUARANTEED OBLIGATIONS 
 Section 3.1. Guarantee. 
 (a) It is understood and agreed that the members of the Ampex Group are guaranteeing, on a joint and several basis, to each Holder of a Note delivered by
Ampex (i) the due and punctual payment of the principal of and interest on such Note, when and as the same shall become due and payable, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue
principal and interest, if any, of or on the Notes, to the extent lawful, and the due and punctual performance of all other obligations of Ampex to the Holders, all in accordance with the terms of such Notes and of this Agreement, and (ii) in
the case of any extension of time of payment or renewal of any Notes, that the same will be promptly paid in full when due in accordance with the terms of the extension or renewal, at maturity, by acceleration or otherwise pursuant to Article III of
the Credit Agreement. Subject to the provisions of this Article III, each member of the Sherborne Group hereby unconditionally guarantees, on a joint and several basis, to each Holder of a Note delivered by Ampex (i) the due and punctual
payment of the principal of and interest on such Note, when and as the same shall become due and payable, whether at maturity, by acceleration or otherwise, the due and punctual payment of interest on the overdue principal and interest, if any, of
or on the Notes, to the extent lawful, and the due and punctual performance of all other obligations of Ampex to the Holders, all in accordance with the terms of such Notes and of this Agreement, and (ii) in the case of any extension of time of
payment or renewal of any Notes, that the same will be promptly paid in full when due in accordance with the terms of the extension or renewal, at maturity, by acceleration or otherwise. 
 (b) Subject to the provisions of this Article III, each Guarantor hereby unconditionally guarantees, on a joint and several basis, to each Holder of a
share of Series A Preferred Stock issued by Ampex pursuant to Section 2.3 the due and punctual payment of all accrued but unpaid dividends and other amounts payable to such Holder, when and as the same shall become due and payable, and the due
and punctual performance of all other obligations of Ampex to the Holders, all in accordance with the terms of such Series A Preferred Stock and of this Agreement. 
  

 14 

 (c) Any demand for payment on any Guarantee shall be made first to the members of the Primary Sherborne
Group, and if no member of such Group makes full payment hereunder within thirty (30) days after demand therefor, such payment shall be made by a member of the Secondary Sherborne Group promptly upon demand therefor by the Holder of the related
Notes and/or share of Series A Preferred Stock. In all other respects, but subject to the provisions of subsection (e), the Guarantors hereby agree that their obligations hereunder shall be absolute and unconditional, irrespective of and unaffected
by any invalidity, irregularity or unenforceability of any such Note, share of Series A Preferred Stock or this Agreement, any failure to enforce the provisions of any such Note, share of Series A Preferred Stock or this Agreement, any waiver,
modification or indulgence granted to Ampex with respect thereto, by the Holder of such Note and/or share of Series A Preferred Stock, or any other circumstances which may otherwise constitute a legal or equitable discharge of a surety or guarantor.

 (d) Each member of the Sherborne Group hereby waives diligence, presentment, filing of claims with a court in the event of merger or
bankruptcy of Ampex, any right to require a proceeding first against Ampex, the benefit of discussion, protest or notice with respect to any such Note, share of Series A Preferred Stock or the indebtedness evidenced thereby and all demands
whatsoever (except as specified above), and covenants that this Guarantee will not be discharged as to any such Note and/or share of Series A Preferred Stock except by payment in full of all amounts due with respect thereto. Each Guarantor further
agrees that, as between such Guarantor, on the one hand, and Holders, on the other hand, (i) the maturity of the obligations guaranteed hereby may be accelerated for the purposes of this Guarantee, notwithstanding any stay, injunction or other
prohibition preventing such acceleration in respect of the obligations guaranteed hereby, and (ii) in the event of any declarations of acceleration of such obligations, such obligations (whether or not due and payable) shall forthwith become
due and payable by each Guarantor for the purpose of this Guarantee, subject to the Demand Requirements. The obligations of each Guarantor under this Agreement shall be joint and several. 
 (e) Notwithstanding the foregoing or any other provision of this Agreement, until the final repayment of all indebtedness of SGI and Buffalo Color,
whether existing on November 22, 1994 or incurred thereafter, the liability of members of the Sherborne Group (including, without limitation, Buffalo Color), if any, to any member of the Hillside Group with respect to the Obligations, shall not
exceed the amount such entity is, from time to time, permitted to incur pursuant to the Loan Document Limitations. Hillside hereby acknowledges that the ability of SGI, Buffalo Color and their subsidiaries to incur Obligations to the members of the
Hillside Group is limited by the Loan Document Limitations. 
 Section 3.2. Execution of Guarantee. To evidence their joint and
several liability to the Holders specified in Section 3.1, the members of the Sherborne Group hereby agree to execute the instrument substantially in the form attached hereto as Exhibit A-1 on each Note executed and delivered by Ampex and each
Guarantor hereby agrees to execute the instrument substantially in the form attached hereto as Exhibit A-1 on each share of Series A Preferred Stock issued pursuant to Section 2.3. Each Guarantor hereby agrees that its Guarantee set forth in
Section 3.1 shall remain in full force and effect notwithstanding any failure to endorse on each Note or share of Series A Preferred Stock a notation of such Guarantee. Each such Guarantee shall be signed on behalf of each Guarantor by its
Chairman of the Board, President or Vice President, and such execution shall constitute due delivery of such Guarantee on behalf of such Guarantor. Such signatures upon the Guarantee may be manual or facsimile signatures and may be imprinted or
otherwise reproduced on the Guarantee, and in case any 

  

 15 

 
officer who shall have signed the Guarantee shall cease to be an officer before the Note or share of Series A Preferred Stock on which such Guarantee is
endorsed shall have been delivered by Ampex, such Note or Share of Series A Preferred Stock nevertheless may be delivered as though the person who signed the Guarantee had not ceased to be such officer of the Guarantor. 
 Section 3.3. Guarantors May Consolidate, Etc., on Certain Terms. Nothing contained in this Agreement or in any of the Notes shall prevent any
consolidation or merger of a Guarantor with a corporation or corporations (whether or not a member of the Ampex Group or the Sherborne Group), or successive consolidations or mergers in which a Guarantor or its successor or successors shall be a
party or parties; provided however, that, with the exception of the possible consolidation of, or merger between, Buffalo Color Corporation (or any successor thereto) and SGI, each Guarantor hereby covenants and agrees that it shall not consolidate
or merge with or into any other member of the Ampex Group or the Sherborne Group if such other member is subject to Loan Document Limitations which would impair its ability to perform the Obligations of the Guarantor hereunder to a greater extent
than the Loan Document Limitations to which the Guarantor is subject; and, provided further, that each Guarantor hereby covenants and agrees that upon any such consolidation or merger, the Guarantee endorsed on the Notes and shares of Series A
Preferred Stock, and the due and punctual performance and observance of all of the covenants and conditions of this Agreement to be performed by such Guarantor, shall be expressly assumed (in the event that such Guarantor is not the surviving
corporation in the merger), by supplemental agreement satisfactory in form to Hillside, executed and delivered to Hillside, by the surviving corporation or the corporation formed by such consolidation or merger. In addition, the Guarantor shall
deliver to Hillside an Officer’s Certificate and an opinion of counsel, each stating that such merger or consolidation complies with this Section 3.3 and that all conditions precedent herein provided relating to such transaction have been
satisfied. In the case of any such consolidation or merger, and upon the assumption by the successor corporation, by supplemental agreement, executed and delivered to Hillside and satisfactory in form to Hillside, of the Guarantee endorsed upon the
Notes and the shares of Series A Preferred Stock and the due and punctual performance of all of the covenants and conditions of this Agreement to be performed by the Guarantor, such successor corporation shall succeed to and be substituted for the
Guarantor, with the same effect as if it had been named herein as a Guarantor. 
 Such aforementioned successor corporation thereupon shall
sign any or all of the Guarantees to be endorsed upon all of the Notes and the shares of Series A Preferred Stock issuable hereunder which theretofore shall not have been signed and delivered by the Issuer. All the Guarantees so issued shall in all
respects have the same legal rank and benefit under this Agreement as the Guarantees theretofore and thereafter issued in accordance with the terms of this Agreement as though all of such Guarantees had been issued at the date of the execution
hereof. Nothing in this Section 3.3 shall limit the effectiveness of Section 3.1. 
 Section 3.4. Subrogation. The
Guarantors shall be subrogated to all rights of the Holder of each Note and share of Series A Preferred Stock issued pursuant to Section 2.3 against Ampex in respect of any amounts paid to the Holder by the Guarantors pursuant to the provisions
of this Guarantee and upon full payment thereof such Note or share of Series A Preferred Stock, as the case may be, shall at the written request of the Guarantors be assigned to them; provided that the Guarantors shall not be entitled to enforce, or
to receive any payments arising out of or based upon, such right of subrogation or assignment until the principal of and 

  

 16 

 
interest on all the Notes or amounts due and payable with respect to such Series A Preferred Stock, as the case may be, shall have been paid in full. If any
amount shall be paid to any Guarantor in violation of the preceding sentence and the Notes and all amounts due and payable with respect to the Series A Preferred Stock shall not have been paid in full, such amount shall be deemed to have been paid
to such Guarantor for the benefit of, and held in trust for the benefit of, the Holders of the Notes and shares of Series A Preferred Stock, as the case may be, and shall forthwith be paid to the Holders to be credited and applied upon the Notes and
shares of Series A Preferred Stock, as the case may be. 
 ARTICLE IV. 
 COVENANTS 
 Section 4.1. Notice of Payment. 
 (a) Ampex hereby covenants that it shall direct the trustee of each Plan to provide notice in writing to Hillside, as soon as practicable, following
receipt of a payment of a Required Contribution to either of the Plans. 
 (b) No later than sixty (60) days prior to the Quarterly Due
Date with respect to each Plan, Ampex shall provide notice in writing to Hillside of Ampex’s ability and intention to make the Quarterly Contribution to such Plan on or before the Quarterly Due Date. 
 (c) No later than sixty (60) days prior to the Annual Due Date with respect to each Plan, Ampex will provide notice in writing to Hillside of
Ampex’s ability and intention to make the Annual Contribution to such Plan on or before the Annual Due Date. 
 Section 4.2.
Reports. 
 (a) With respect to each incorporated and unincorporated member of the Sherborne Group, SGI will provide, or cause to be
provided, to Hillside (and any other member of the Hillside Group which is then a Holder) copies of each of the following: 
 (i) as soon as practicable, annual audited financial statements (income statement, balance sheet, statement of cash flow, statement of changes in shareholders’ equity and any accompanying notes thereto); 
 (ii) as soon as practicable, but in any event within sixty (60) days after the end of each of the first three fiscal quarters of each
fiscal year, and within one hundred and twenty (120) days after the end of each fiscal year, unaudited consolidated and consolidating balance sheets of the parent entity in each Group and its significant domestic subsidiaries as of the end of
the fiscal quarter, and the related unaudited consolidated and consolidating statements of income, shareholders’, equity and cash flows (or changes in financial position) for such quarter (and for the period from the beginning of the then
current fiscal year to the end of such fiscal quarter) or, in the case of the year-end information, for such fiscal year, and the corresponding figures as of the end of, and for, the corresponding period in the preceding fiscal year, together in
each case with an appropriate Officer’s Certificate. To the extent that financial statements are not otherwise prepared for a Reporting Entity or any foreign subsidiary (whether or not incorporated) under Common Control with Ampex, the
Reporting Entity or such foreign subsidiary shall provide the respective underlying trial balances for the applicable period; 
  

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 (iii) as soon as practicable, monthly unaudited consolidated statements of income and
related balance sheets of the parent entity in the Sherborne Group; 
 (iv) during the first quarter of each fiscal year, a
financial forecast of income of the parent entity in the Sherborne Group for such fiscal year, prepared on an annual and a quarterly basis; and 
 (v) within thirty (30) days after the end of each Calendar Year, an organization chart displaying the members of the Sherborne Group and any entity of which 20% or more of the equity interest is owned in the
aggregate by members of the Sherborne Group (a “20% Owned Entity”). Such chart shall indicate (separately as to each class of equity, including options and warrants, if any) the percentage ownership interest that members of the Sherborne
Group have in each other, and in each 20% Owned Entity (as defined in the preceding sentence). Such chart shall be updated more often than annually if additional updating is necessary to keep Hillside reasonably informed of the current existing
relationships. 
 (b) Each Reporting Entity and any foreign subsidiary (whether or not incorporated) under Common Control with Ampex
covenants to provide to Hillside with reasonable promptness as many of the following reports as are within the control of the Reporting Entity or such foreign subsidiary: (i) SEC filings; (ii) projections for contributions for the next ten
(10) years to be made available whenever prepared by the consulting actuary at the request of the Reporting Entity or any foreign subsidiary (whether or not incorporated) under Common Control with Ampex and in any event no less frequently than
once every three (3) years; (iii) actuarial reports, participant data, Forms 5500 with Schedule B’s or SB’s and any other data reasonably requested by Hillside relating to the Plans; (iv) debt covenant compliance analyses
furnished to lenders; (v) full monthly and annual reports or statements of the Master Trust in which one or both of the Plans participate; and (vi) copies of any reports or information submitted to the PBGC under the Joint Settlement
Agreement. From time to time, upon Hillside’s request, the parent entity of the Sherborne Group will make available to Hillside the chief executive officer or chief financial officer of Sherborne to answer questions concerning the financial
statements and other information furnished pursuant to subsection (a) above and this subsection (b). 
 (c) The members of the Hillside
Group shall maintain all information furnished pursuant to this Section 4.2 in confidence; provided that the Hillside Group shall not be required to maintain information in confidence to the extent it (i) is or becomes publicly available
other than as a result of a disclosure by the Hillside Group; (ii) becomes available to the members of the Hillside Group on a nonconfidential basis from a source other than the Sherborne Group or the PBGC, provided that such source is not
known by Hillside to be subject to any prohibition against transmitting such information to the Hillside Group; (iii) is required by Applicable Law to be disclosed; (iv) pertains to a legal dispute (whether conducted in the form of
litigation, arbitration or alternative dispute resolution procedures) between one or more members of the Hillside Group and one or more of members of the Ampex Group and/or Sherborne Group for a breach of, or to enforce the terms of, this Agreement;
or (v) is disclosed to any person who controls, is controlled by or is under common control with Hillside, provided that such person agrees to be bound by the same confidentiality requirements, and subject to the same exceptions, as Hillside.

  

 18 

 Section 4.3. Restrictions on Company Distributions. Without the prior approval of the
Hillside Group, no member of the Sherborne Group shall make Company Distributions in excess of $500,000 in any fiscal year. 
 Section 4.4. Restrictions on Asset Sales. No member of the Sherborne Group shall sell or transfer (other than in the ordinary course of its business) any assets to any person other than a Non-Affiliate, without the prior written
consent of Hillside; provided, however, that this Section 4.4 shall not apply to a sale or transfer of assets if the transaction is for fair market value (as determined in good faith by the Board of Directors of the seller or transferor, using
any reasonable method of valuation), and written notice shall have been furnished to Hillside within thirty (30) days after such transaction, which notice shall include the nature of the assets, the identity of the purchaser or transferee and
the fair market value of the assets and the basis for such determination. 
 Section 4.5. Grantor Trusts. During the period of
the duration of the Joint Settlement Agreement, no member of the Sherborne Group shall transfer any amounts to a trust the assets of which are not available to creditors in the absence of the commencement of a bankruptcy proceeding. 
 Section 4.6. Notices, etc. 
 (a)
Hillside will immediately advise Ampex and SGI of any notice (whether written or oral) of intent to terminate either of the Plans issued by Hillside or any member of the Hillside Group or received from the PBGC. 
 (b) SGI shall notify Hillside of any Company Distribution made in property (excluding cash and stock dividends) at least ten (10) days prior to the
date on which the property is to be distributed. Such notice shall include (i) the nature of the property, (ii) the value of the property and (iii) the method by which the property was valued. 
 (c) In the event that a member of the Hillside Group has assumed a Plan, such member of the Hillside Group shall notify Ampex of its intention to make a
contribution to the Plan at least ten (10) days prior to the date on which it will make a contribution to such Plan. 
 Section 4.7. Foreign Subsidiaries. No member of the Sherborne Group shall transfer cash to any foreign subsidiaries (including joint ventures and partnerships) in excess of amounts reasonably necessary, in the good faith
judgment of their respective Boards of Directors, for the commercial and financial requirements of such subsidiaries. Domestic facilities of the members of the Sherborne Group shall not be relocated abroad except for commercial reasons as determined
in good faith by the applicable Board of Directors. The members of the Sherborne Group shall not transfer ownership of domestic facilities to foreign subsidiaries. The members of the Sherborne Group shall use their best efforts to repatriate surplus
cash not reasonably required for subsidiaries’ needs, to the extent legally permissible. 
  

 19 

 ARTICLE V. 
 INTENTIONALLY OMITTED 
 ARTICLE VI. 
 CONTROL OF INVESTMENT OF PLAN ASSETS 
 Section 6.1. Named Fiduciary.

 (a) No further investment on behalf of any Plan shall be made in any security which would be considered an “employer security”
under Section 407 of ERISA, with respect to Ampex (determined for this purpose as if each member of the Sherborne Group, but no member of the Hillside Group, is affiliated with Ampex). 
 (b) Park A.Q. Pension Management Inc., an affiliate of Hillside, shall be the sole named fiduciary with respect to investment and management of all of
the assets of the Plans, other than any assets of the Plans consisting of “employer securities” under section 407 of ERISA, as to which United States Trust Company of New York shall be the sole named fiduciary with respect to investment
and management; provided, however, that if all or any portion of such employer securities are disposed of by United States Trust Company of New York prior to, on or after the date of this Agreement the proceeds of such disposition shall be delivered
to the HI01 cash account of the Ampex Retirement Master Trust and thereafter Park A.Q. Pension Management Inc. shall be the sole named fiduciary with respect to investment and management of all of the assets of the Plans except for any remaining
employer securities held by United States Trust Company of New York. Park A.Q. Pension Management Inc. shall have the sole responsibility for all investment decisions, including appointing, retaining or removing investment managers and setting
investment guidelines, with respect to all of the assets of the Plan as to which it acts as the named fiduciary. If Park A.Q. Pension Management, Inc. ceases for any reason to be the sole named fiduciary with respect to investment and management of
the assets of the Plans as described in this clause (b), the investment guidelines on the investment of each Plan’s assets as established by Park A.Q. Pension Management, Inc. immediately prior to the date it ceases to be such sole named
fiduciary shall be delivered in written form to Hillside and Ampex prior to such date, shall continue in full force and effect from and after such date and shall thereafter only be changed by Hillside. Hillside shall have the option, but not the
obligation, to assume, or cause a member of the Limited Hillside Group to assume as Plan Sponsor and plan administrator, the Systems Plan and/or the Media Plan. Hillside shall indemnify (and shall pay all reasonable costs and expenses including
attorney’s fees incurred by) the members of the Ampex Group and the Sherborne Group for any claim against any members of the Ampex Group or the Sherborne Group resulting from such member of the Limited Hillside Group’s actions with respect
to investment management of assets of such Plan and , if Hillside elects to assume or cause another member of the Hillside Group to assume the Plans, resulting from the administration of the Plans, but not for any claims brought by any member of the
Ampex Group or Sherborne Group (or AFC) which at the time of the claim controls, is controlled by or is under Common Control with another member of the Ampex Group or Sherborne Group. 
  

 20 

 (c) In the event that Hillside elects to assume, or cause another member of the Limited Hillside Group to
assume, the Systems Plan and/or the Media Plan, the assets of each such Plan shall be withdrawn from the Master Trust and (i) if Hillside has not elected to assume or cause another member of the Limited Hillside Group to assume the Plan or
Plans, such amount shall be transferred to a new trust which shall be established by Ampex for this purpose (with the same trustee as the Master Trust, or with such other trustee as Ampex may determine subject to the written consent of Hillside) or
(ii) in the event Hillside has elected to assume, or cause another member of the Limited Hillside Group to assume, the Plan or Plans, such amount shall be transferred to a new trust which shall be established by Hillside (or such other Limited
Hillside Group member) for this purpose. In allocating the assets of the Master Trust among the plans invested therein, all assets shall be allocated on a pro rata basis. 
 (d) In the event that Hillside or a member of the Limited Hillside Group assumes a Plan, thereafter Hillside shall provide, or cause such other member of the Limited Hillside Group to provide, Ampex with actuarial
reports, projections for contributions, participant data and Forms 5500 with Schedule B’s or SB’s and any other data reasonably requested with respect to such assumed Plan. 
 (e) If on the later of (i) the date on which the Joint Settlement Agreement shall terminate and (ii) the date on which all Notes and other
obligations hereunder have been satisfied in full, a member of the Limited Hillside Group is a Plan Sponsor, the employer of the participants in such Plan, or an entity which is under Common Control with such employer, shall have the right to assume
said Plan. 
 ARTICLE VII. 
 CONTROL OVER PLANS 
 Section 7.1. Control Over Plans. 
 (a) Ampex (or any member of the Ampex Group that becomes Plan Sponsor) shall continue each of the Plans for the duration of the Joint Settlement
Agreement unless (i) a member of the Limited Hillside Group assumes such Plan or (ii) such Plan becomes sufficiently funded to qualify for a Standard Termination in which case the then Plan Sponsor shall promptly provide the required
notices (with copies to Hillside) for a Standard Termination and terminate such Plan at the earliest practicable date. 
 (b) No member of
the Ampex Group shall (i) amend either of the Plans to resume accruals thereunder, (ii) adopt any other plan which is subject to Title IV of ERISA or (iii) enter into any transaction which would result in any member of the Ampex Group
or AFC becoming jointly and severally liable for contributions to or termination liability for a plan subject to Title IV of ERISA. 
 (c)
Ampex (or any member of the Ampex Group that becomes a Plan Sponsor) shall not apply for a Funding Waiver for either Plan without the advance written approval of Hillside. 
 (d) Ampex (or any member of the Ampex Group that becomes a Plan Sponsor) shall not permit any plan-to-plan transfers of either assets or liabilities from
or to either of the Plans or any plan mergers involving either Plan as long as this Agreement is in effect without Hillside’s advance written approval which shall not be unreasonably withheld. 
  

 21 

 (e) Ampex (or any member of the Ampex Group that becomes a Plan Sponsor) to the extent permitted by
Applicable Law shall not change either Plan’s actuary without the advance written approval of Hillside. If either Plan’s actuary proposes to change its actuarial methods or assumptions from those used in the January 1, 1994 actuarial
reports attached to the Original Agreement as Exhibit C, such proposal shall first be submitted in writing to Hillside and if Hillside finds such changes to be unreasonable, then to the extent permitted by Applicable Law, Ampex will appoint a
successor actuarial consultant acceptable to Ampex and to Hillside. 
 (f) Ampex (or any member of the Ampex Group that becomes a Plan
Sponsor) shall, to the extent permitted by Applicable Law, comply with any request by Hillside to take any action with respect to a Plan in its role as Plan Sponsor, or to refrain from taking any action with respect to a Plan in its role as Plan
Sponsor, including, but not limited to, (i) applying for a Funding Waiver and (ii) amending a Plan. 
 ARTICLE VIII. 
 REPRESENTATIONS AND WARRANTIES 
 Section 8.1. General Representations and Warranties. Each of the members of the Ampex Group and the Sherborne Group represents and warrants to Hillside, and each member of the Limited Hillside Group represents and warrants to
Ampex and SGI, that it has full power and authority to enter into this Agreement and that this Agreement constitutes a legal, valid, and binding obligation of each of the members of the Ampex Group, the Sherborne Group and the Limited Hillside
Group, as the case may be, enforceable against each of the members of the Ampex Group, the Sherborne Group and the Limited Hillside Group, as the case may be, in accordance with its terms. 
 Section 8.2. Additional Representations and Warranties. Each member of the Ampex Group and Sherborne Group represents and warrants to
Hillside that: 
 (a) No Violation. As of the date of this Agreement, none of the execution or delivery by each member of the Ampex
Group and the Sherborne Group of this Agreement or any other agreement or instrument contemplated hereby (i) will violate (A) any provision of Applicable Law, or the certificate of incorporation or bylaws (or similar governing documents)
of such entity or (B) any indenture, agreement or other instrument to which any member of the Ampex Group or the Sherborne Group is a party or by which such entity or any of such entity’s property is bound, (ii) will conflict with or
result in a breach of any of the terms, covenants, conditions or provisions of any such indenture, agreement or instrument, or constitute (with notice or lapse of time or both) a default thereunder, or result in the creation or imposition of (or the
obligation to create or impose) any lien upon any property or assets of any member of the Ampex Group or the Sherborne Group pursuant to any such indenture, agreement or other instrument. 
  

 22 

 (b) True and Complete Disclosure, No Material Misstatements. All factual information provided
herein or heretofore provided in connection with this Agreement was true and accurate in all material respects on the date as of which such information was dated or certified. All financial statements and projections concerning the Ampex Group and
the Sherborne Group that are or have been made available to Hillside have been or will be prepared in good faith. There is no fact known to any entity in the Ampex Group or the Sherborne Group which could reasonably be expected to materially and
adversely affect the business, operations, property, assets or condition (financial or otherwise) of the members of the Ampex Group or the Sherborne Group, taken as a whole, which has not been disclosed herein or in such other documents,
certificates and statements furnished to Hillside or its advisors or otherwise made available to the public for use in connection with the transactions contemplated hereby. 
 Section 8.3. Additional Representations and Warranties of Ampex. Ampex hereby represents and warrants the following to Hillside: 

(a) No Funding Waivers have been applied for or received with respect to the Plans; and 
 (b) The signatories to this Agreement and AFC, Xepma I Inc., Xepma IV Inc. and NHI are the only domestic entities under Common Control with Ampex or
Ampex Media which have assets in excess of $10,000, except for any member of the Hillside Group which the PBGC asserts is under such Common Control. 
 ARTICLE IX. 
 GENERAL PROVISIONS 
 Section 9.1. Entire Agreement. This Agreement and the Exhibits hereto and the Joint Settlement Agreement and the exhibits thereto contain the entire and exclusive agreement and understanding of the parties
and supersede all prior agreements, understandings, commitments and proposals, oral or written, between the parties relating to the subject matter hereof, and no other agreement or understanding exists except as expressly set forth herein. The
parties agree that should a court be called upon to interpret any provision of this Agreement, previous drafts shall not be used by any party in any manner to support its interpretation of the meaning of this Agreement. Each party hereto and its
counsel have reviewed this Agreement and have participated in its drafting and, accordingly, no party shall attempt to invoke the normal rule of construction to the effect that ambiguities are to be resolved against the drafting party in any
interpretation of this Agreement. 
 Section 9.2. Governing Law and Jurisdiction. 
 (a) This Agreement shall be interpreted in accordance with and governed by the law of the State of New York (without regard to choice of law provisions),
except to the extent preempted by Federal law. 
 (b) Each member of the Ampex Group hereby irrevocably appoints Ampex as its agent for
service of process in respect of any action or proceeding with respect to any dispute arising under or pertaining to this Agreement. 
  

 23 

 (c) Each member of the Sherborne Group hereby irrevocably appoints SGI as its agent for service of
process in respect of any action or proceeding with respect to any dispute arising or pertaining to this Agreement. 
 (d) Each member of the
Limited Hillside Group hereby irrevocably appoints Hillside as its agent for service of process with respect to any action or proceeding with respect to any dispute arising under or pertaining to this Agreement. 
 (e) Any lawsuit or claim arising under or relating to this Agreement shall be brought in a United States District Court of competent jurisdiction or if
no United States District Court has competent jurisdiction, then in the appropriate Court in the State of New York. 
 Section 9.3.
Modifications. No provision of this Agreement (including the Exhibits hereto) may be modified or amended, except pursuant to an agreement entered into by Hillside, the members of the Ampex Group and the members of the Sherborne Group
evidenced by written instruments signed by their authorized representatives and no provision of this Agreement may be waived except pursuant to a written instrument signed by the authorized representative of the waiving party. 
 Section 9.4. Notices. Any notice, consent, approval or other communication required or permitted under this Agreement shall be in writing and
shall be delivered by hand or overnight courier service, sent by telefacsimile transmission or other wire transmission (with request for assurance of receipt in a manner customary for communications of such respective type), or by certified or
registered mail, postage prepaid, and shall be deemed duly given when so delivered or sent by telefacsimile transmission or if sent by overnight courier service, on the first Business Day after dispatch by overnight courier, or if sent by certified
or registered mail, five Business Days after the date of dispatch to the following respective addressees at the address or telefacsimile number set forth below: 
 To Ampex and members of the Ampex Group: 
 Ampex Corporation 
 1228 Douglas Avenue 
 Redwood City, California
94063-3177 
 Attn: Joel D. Talcott, Esq. General Counsel 
 Telefacsimile No.: (650) 367-4669 
 To members of the Sherborne Group: 
 Mr. Craig McKibben 
 135 E. 57th Street,
32nd Floor 
 New York, New York 10022 
 Telefacsimile No.: (212) 735-1001 
 To Hillside and members of the Hillside Group: 
 Hillside Capital Incorporated 
 405 Park
Avenue 
  

 24 

 New York, New York 10022 
 Attention: Raymond F. Weldon 
 Telefacsimile No.: (212) 759-4831 
 with copies to: 
 Patterson Belknap
Webb & Tyler, LLP 
 1133 Avenue of the Americas 
 New York, New York 10036-6710 
 Attention: Jeffrey E. LaGueux, Esq. 
 Telefacsimile No: (212) 336-2222 
 or to such other
entities or addresses as any entity entitled to notice hereunder may from time to time designate by notice in accordance with this Section 9.4 to the other party or parties. If the effective date of notice shall fall upon a day that is not a
Business Day, notice shall not be deemed effective until the next Business Day. 
 Section 9.5. No Waiver. No failure of any
party to this Agreement to enforce at any time any of the provisions of this Agreement or to exercise any option under this Agreement and no course of dealing between or among any member of the Ampex Group, the Hillside Group and/or, the Sherborne
Group shall be construed to be a waiver of any such provision or option, or shall in any way affect the validity of this Agreement or the right of any party to enforce each and every one of its provisions or options. 
 Section 9.6. Benefits. This Agreement shall be binding upon and inure to the benefit of the parties hereto and their respective permitted
successors and assigns. Wherever in this Agreement any of the parties hereto is referred to, such reference shall be deemed to refer to and include the permitted successors and assigns of such party, and all covenants, promises and agreements by or
on behalf of any party that are contained in this Agreement shall bind and inure to the benefit of their respective permitted successors and assigns. 
 Section 9.7. Execution. This Agreement may be executed in any number of identical counterparts, each of which shall be an original as against the party who signed it, and all of which together shall
constitute one and the same instrument. No party to this Agreement shall be bound by this Agreement until a counterpart has been executed by or on behalf of each party hereto. 
 Section 9.8. Captions. The captions to the several Articles and Sections of this Agreement and the table of contents have been inserted for
convenience of reference only and shall not in any way affect the meaning or construction of any provision of this Agreement. 
 Section 9.9. Severability. Any provision of this Agreement that shall be prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability
without invalidating the remaining provisions hereto. 
  

 25 

 Section 9.10. Survival. The obligations, agreements, indemnities, representations, and
warranties contained in this Agreement shall not be affected by and shall survive and shall continue in effect following the execution and delivery of this Agreement and shall be and continue in effect notwithstanding any waiver of compliance with
any of the terms, provisions, or conditions of this Agreement. 
 Section 9.11. Termination. If Ampex is the Plan Sponsor of any
Plan which has not terminated, this Agreement shall terminate, upon the later of (i) the date on which the Joint Settlement Agreement shall terminate, and (ii) the date on which all Notes and other obligations hereunder have been satisfied
in full. 
 Section 9.12. Deductions. Nothing in this Agreement shall limit any party to claim a deduction for, and to expense,
any contribution to the Plans as it in its sole discretion deems appropriate. 
 [Remainder of Page Intentionally Left Blank] 
  

 26 

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

  

			
	 AMPEX GROUP:
  
 AMPEX CORPORATION

		
	By: 	 	/s/ Joel D. Talcott
	Name: Joel D. Talcott
	Title: General Counsel & Secretary
	Telephone No: (650) 367-3330
	Fax No: (650) 367-3440
	
	AMPEX DATA SYSTEMS CORPORATION
		
	By: 	 	/s/ Joel D. Talcott
	Name: Joel D. Talcott
	Title: General Counsel & Secretary
	Telephone No: (650) 367-3330
	Fax No: (650) 367-3440
	
	AMPEX FINANCE CORPORATION
		
	By: 	 	/s/ Joel D. Talcott
	Name: Joel D. Talcott
	Title: General Counsel & Secretary
	Telephone No: (650) 367-3330
	Fax No: (650) 367-3440
	
	AMPEX INTERNATIONAL SALES CORPORATION
		
	By:	 	/s/ Joel D. Talcott
	 Name: Joel D. Talcott
 Title: General
Counsel & Secretary
 Telephone No: (650) 367-3330
 Fax No: (650) 367-3440

  

 27 

			
	 LIMITED HILLSIDE GROUP:
  
 HILLSIDE CAPITAL INCORPORATED

		
	By: 	 	/s/ Raymond F. Weldon
	 Name: Raymond F. Weldon
 Title: Managing
Director
 Telephone No: (212) 935-6090
 Fax No:
(212) 759-4831

	
	BROOKSIDE INTERNATIONAL INCORPORATED
		
	By: 	 	/s/ Raymond F. Weldon
	 Name: Raymond F. Weldon
 Title: Managing
Director
 Telephone No: (212) 935-6090
 Fax No:
(212) 759-4831

	
	BROOKSIDE INTERNATIONAL LLC
	
	By Cliffdale Advisors, Inc., its Manager
		
	By: 	 	/s/ Raymond F. Weldon
	 Name: Raymond F. Weldon
 Title: Managing
Director
 Telephone No: (212) 935-6090
 Fax No:
(212) 759-4831

  

 28 

			
	 SHERBORNE GROUP:
  
 NEWHILL PARTNERS, L.P.

	
	By: Sherborne & Company, Inc.,
General Partner
		
	By: 	 	/s/ Craig L. McKibben
	 Name: Craig L. McKibben
 Title: VP

Telephone No: (212) 759-6301
 Fax No:

	
	SHERBORNE HOLDINGS INCORPORATED
		
	By: 	 	/s/ Craig L. McKibben
	 Name: Craig L. McKibben
 Title: VP

Telephone No: (212) 759-6301
 Fax No:

	
	NH BOND CORP.
		
	By: 	 	/s/ Craig L. McKibben
	 Name: Craig L. McKibben
 Title: President

 Telephone No: (212) 759-6301
 Fax No:

	
	XEPMA II INC.
		
	By: 	 	/s/ Craig L. McKibben
	 Name: Craig L. McKibben
 Title: VP

Telephone No: (212) 759-6301
 Fax No:

  

 29 

			
	XEPMA III INC.
		
	By: 	 	/s/ Craig L. McKibben
	 Name: Craig L. McKibben
 Title: VP

Telephone No: (212) 759-6301
 Fax No:

  

 30

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