Document:

EX-10.4

 Exhibit 10.4 

EXECUTION VERSION 
  

 
  

GUARANTEE AND COLLATERAL AGREEMENT 

dated as of 
 November 26,
2013 
 among 
 ALLEGION PUBLIC
LIMITED COMPANY, 
 ALLEGION US HOLDING COMPANY INC., 

THE SUBSIDIARY LOAN PARTIES 

IDENTIFIED HEREIN 
 and 

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

 

 TABLE OF CONTENTS 
  

							
	ARTICLE I	  
	
	Definitions	  
			
	 SECTION 1.01.
	 	Defined Terms	  	 	1	  
	 SECTION 1.02.
	 	Other Defined Terms	  	 	1	  
	
	ARTICLE II	  
	
	Guarantee	  
			
	 SECTION 2.01.
	 	Guarantee	  	 	6	  
	 SECTION 2.02.
	 	Guarantee of Payment; Continuing Guarantee	  	 	6	  
	 SECTION 2.03.
	 	No Limitations	  	 	6	  
	 SECTION 2.04.
	 	Reinstatement	  	 	7	  
	 SECTION 2.05.
	 	Agreement to Pay; Subrogation	  	 	7	  
	 SECTION 2.06.
	 	Cross-Guaranty	  	 	8	  
	 SECTION 2.07.
	 	Information	  	 	8	  
	
	ARTICLE III	  
	
	Pledge of Securities	  
			
	 SECTION 3.01.
	 	Pledge	  	 	8	  
	 SECTION 3.02.
	 	Delivery of the Pledged Collateral	  	 	9	  
	 SECTION 3.03.
	 	Representations and Warranties	  	 	10	  
	 SECTION 3.04.
	 	Certification of Limited Liability Company and Limited Partnership Interests	  	 	11	  
	 SECTION 3.05.
	 	Registration in Nominee Name; Denominations	  	 	11	  
	 SECTION 3.06.
	 	Voting Rights; Dividends and Interest	  	 	11	  
	
	ARTICLE IV	  
	
	Security Interests in Personal Property	  
			
	 SECTION 4.01.
	 	Security Interest	  	 	13	  
	 SECTION 4.02.
	 	Representations and Warranties	  	 	16	  
	 SECTION 4.03.
	 	Covenants	  	 	17	  
	 SECTION 4.04.
	 	Other Actions	  	 	19	  
	 SECTION 4.05.
	 	Covenants Regarding Patent, Trademark and Copyright Collateral	  	 	20	  

							
	
	ARTICLE V	  
	
	Remedies	  
			
	 SECTION 5.01.
	 	Remedies Upon Default	  	 	21	  
	 SECTION 5.02.
	 	Application of Proceeds	  	 	23	  
	 SECTION 5.03.
	 	Grant of License to Use Intellectual Property	  	 	24	  
	 SECTION 5.04.
	 	Securities Act	  	 	24	  
	
	ARTICLE VI	  
	
	Indemnity, Subrogation and Subordination	  
			
	 SECTION 6.01.
	 	Indemnity and Subrogation	  	 	25	  
	 SECTION 6.02.
	 	Contribution and Subrogation	  	 	25	  
	 SECTION 6.03.
	 	Subordination	  	 	25	  
	
	ARTICLE VII	  
	
	Miscellaneous	  
			
	 SECTION 7.01.
	 	Notices	  	 	26	  
	 SECTION 7.02.
	 	Waivers; Amendment	  	 	26	  
	 SECTION 7.03.
	 	Administrative Agent’s Fees and Expenses	  	 	27	  
	 SECTION 7.04.
	 	Survival of Agreement	  	 	27	  
	 SECTION 7.05.
	 	Counterparts; Effectiveness, Successors and Assigns	  	 	27	  
	 SECTION 7.06.
	 	Severability	  	 	28	  
	 SECTION 7.07.
	 	Right of Set-Off	  	 	28	  
	 SECTION 7.08.
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	28	  
	 SECTION 7.09.
	 	WAIVER OF JURY TRIAL	  	 	29	  
	 SECTION 7.10.
	 	Headings	  	 	29	  
	 SECTION 7.11.
	 	Security Interest Absolute	  	 	29	  
	 SECTION 7.12.
	 	Termination or Release	  	 	30	  
	 SECTION 7.13.
	 	Additional Subsidiaries	  	 	30	  
	 SECTION 7.14.
	 	Administrative Agent Appointed Attorney-in-Fact	  	 	31	  
	 SECTION 7.15.
	 	Certain Acknowledgments and Agreements	  	 	31	  
	 SECTION 7.16.
	 	Secured Cash Management Obligations and Secured Hedge Obligations	  	 	32	  

			
	Schedules	  	
		
	Schedule I	  	Subsidiary Loan Parties
	Schedule II	  	Pledged Equity Interests; Pledged Debt Securities
	Schedule III	  	Intellectual Property
	Schedule IV	  	Commercial Tort Claims
		
	Exhibits	  	
		
	Exhibit I	  	Form of Guarantee and Collateral Agreement Supplement
	Exhibit II	  	Form of Patent Security Agreement
	Exhibit III	  	Form of Trademark Security Agreement
	Exhibit IV	  	Form of Copyright Security Agreement

 GUARANTEE AND COLLATERAL AGREEMENT dated as of November 26, 2013 (this
“Agreement”), among Allegion Public Limited Company, Allegion US Holding Company Inc., the Restricted Subsidiaries from time to time party hereto and JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent. 

Reference is made to the Credit Agreement dated as of November 26, 2013 (as amended, restated, supplemented or otherwise modified from
time to time, the “Credit Agreement”), among Allegion US Holding Company Inc. (the “Borrower”), Allegion Public Limited Company (“Holdings”), the Lenders and Issuing Banks from time to time party
thereto and JPMCB, as Administrative Agent. The Lenders and the Issuing Banks have agreed to extend credit to the Borrower subject to the terms and conditions set forth in the Credit Agreement. The obligations of the Lenders and the Issuing Banks to
extend such credit are conditioned upon, among other things, the execution and delivery of this Agreement. Holdings and the Subsidiary Loan Parties are Affiliates of the Borrower, will derive substantial benefits from the extension of credit to the
Borrower pursuant to the Credit Agreement and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit. Accordingly, the parties hereto agree as follows: 

ARTICLE I 
 Definitions

 SECTION 1.01. Defined Terms. (a) Each capitalized term used but not defined herein shall have the meaning specified in
the Credit Agreement, provided that each term defined in the New York UCC (as defined herein) and not defined in this Agreement shall have the meaning specified in the New York UCC. The term “instrument” shall have the meaning
specified in Article 9 of the New York UCC. 
 (b) The rules of construction specified in Section 1.03 of the Credit Agreement
also apply to this Agreement, mutatis mutandis. 
 SECTION 1.02. Other Defined Terms. As used in this Agreement, the
following terms have the meanings specified below: 
 “Account Debtor” means any Person that is or may become obligated to
any Grantor under, with respect to or on account of an Account. 
 “Agreement” has the meaning assigned to such term in the
preamble hereto. 
 “Article 9 Collateral” has the meaning assigned to such term in Section 4.01(a). 

“Borrower” has the meaning assigned to such term in the recitals hereto. 

 “Cash Management Services” means the treasury management services (including
controlled disbursements, zero balance arrangements, cash sweeps, corporate credit card and other card services, automated clearinghouse transactions, return items, overdrafts, temporary advances, interest and fees and interstate depository network
services) provided to Holdings, the Borrower or any Restricted Subsidiary. 
 “Collateral” means Article 9 Collateral
and Pledged Collateral. 
 “Contributing Party” has the meaning assigned to such term in Section 6.02. 

“Copyright License” means any written agreement, now or hereafter in effect, granting to any Person any right under any
Copyright owned by any Grantor or that such Grantor otherwise has the right to license, or granting any right to any Grantor under any Copyright owned by any other Person, or that any other Person now or hereafter otherwise has the right to license,
and all rights of such Grantor under any such agreement. 
 “Copyrights” means, with respect to any Person, all of the
following now owned or hereafter acquired by such Person: (a) all copyrights in any work subject to the copyright laws of the United States of America or any other country, whether as author, assignee, transferee or otherwise, and (b) all
registrations and applications for registration of any such copyright in the United States of America or any other country, including registrations, recordings, supplemental registrations and pending applications for registration in the United
States Copyright Office (or any similar office in any other country), including any of the foregoing listed on Schedule III. 

“Credit Agreement” has the meaning assigned to such term in the recitals hereto. 

“Excluded Equity Interests” has the meaning assigned to such term in Section 3.01. 

“Excluded Personal Property” has the meaning assigned to such term in Section 4.01. 

“Federal Securities Laws” has the meaning assigned to such term in Section 5.04. 

“Global Intercompany Note” means the global intercompany note substantially in the form of Exhibit F to the Credit Agreement
pursuant to which intercompany obligations and advances owed by any Loan Party are subordinated to the Obligations. 

“Grantors” means Holdings, the Borrower and each Subsidiary Loan Party. 

  
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 “Guarantors” means Holdings, the Borrower (except with respect to obligations of
the Borrower) and each Subsidiary Loan Party. 
 “Holdings” has the meaning assigned to such term in the recitals hereto.

 “Intellectual Property” means all intellectual and similar property of every kind and nature, including inventions,
designs, Patents, Copyrights, Licenses, Trademarks, trade secrets, domain names, confidential or proprietary technical and business information, know-how, show-how or
other proprietary data, software and databases and all embodiments or fixations thereof and related documentation and registrations, and all modifications of and improvements to any of the foregoing. 

“IP Security Agreements” has the meaning assigned to such term in Section 4.02(b). 

“License” means any Patent License, Trademark License, Copyright License or other written license or sublicense agreement to
which any Grantor is a party, including those listed on Schedule III. 
 “Loan Document Obligations” means
(a) the due and punctual payment by the Borrower of (i) the principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed
or allowable in such proceeding) on the Loans, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under the Credit Agreement in
respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon and obligations to provide cash collateral and (iii) all other monetary obligations of the Borrower under the
Credit Agreement and each of the other Loan Documents, including obligations to pay fees, expense reimbursement obligations (including with respect to attorneys’ fees) and indemnification obligations, whether primary, secondary, direct,
contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due
and punctual payment of all the obligations of each other Loan Party under or pursuant to this Agreement and each of the other Loan Documents (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or
other similar proceeding, regardless of whether allowed or allowable in such proceeding). 
 “New York UCC” means the
Uniform Commercial Code as from time to time in effect in the State of New York. 
 “Obligations” means, collectively,
(a) all the Loan Document Obligations, (b) all the Secured Cash Management Obligations and (c) all the Secured Hedging Obligations. 

“Paid in Full” and “Payment in Full” shall mean payment in full of all of the applicable Obligations (except
for contingent indemnity obligations and expense reimbursement obligations to the extent no claim therefor has been made) and termination of all commitments to extend credit under the Credit Agreement. 

  
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 “Patent License” means any written agreement, now or hereafter in effect,
granting to any Person any right to make, use or sell any invention under a Patent owned by any Grantor, or that any Grantor otherwise has the right to license, or granting to any Grantor any right to make, use or sell any invention under a Patent
owned by any other Person, or that any other Person otherwise has the right to license, and all rights of any Grantor under any such agreement. 

“Patents” means with respect to any Person all of the following now owned or hereafter acquired by such Person: (a) all
letters patent of the United States of America or the equivalent thereof in any other country and all applications for letters patent of the United States of America or the equivalent thereof in any other country, including registrations, recordings
and pending applications in the United States Patent and Trademark Office or any similar offices in any other country, including those listed on Schedule III, and (b) all reissues, continuations, divisionals, continuations-in-part,
renewals or extensions thereof, and the inventions disclosed or claimed therein, including the right to make, use and/or sell the inventions disclosed or claimed therein. 

“Perfection Certificate” means the Perfection Certificate dated the Effective Date delivered by the Borrower to the
Administrative Agent pursuant to Section 4.01(i) of the Credit Agreement. 
 “Pledged Collateral” has the meaning
assigned to such term in Section 3.01. 
 “Pledged Debt Securities” has the meaning assigned to such term
in Section 3.01. 
 “Pledged Equity Interests” has the meaning assigned to such term in Section 3.01. 

“Pledged Securities” means any promissory notes, stock certificates, unit certificates, limited liability membership interest
certificates and other certificated securities now or hereafter included in the Pledged Collateral, including all certificates, instruments or other documents representing or evidencing any Pledged Collateral. 

“Secured Cash Management Obligations” means the due and punctual payment of any and all obligations of Holdings, the Borrower
and each Subsidiary Loan Party (whether absolute or contingent and however and whenever created, arising, evidenced or acquired (including all renewals, extensions and modifications thereof and substitutions therefor)) arising in respect of Cash
Management Services that (a) are owed to the Administrative Agent or an Affiliate of any of the foregoing, or to any Person that, at the time such obligations were incurred, was the Administrative Agent or an Affiliate of any of the foregoing,
(b) are owed on the Effective Date to a Person that is a Lender or an Affiliate of a Lender as of the Effective Date or (c) are owed to a Person that is a Lender or an Affiliate of a Lender at the time such obligations are incurred. 

  
 4 

 “Secured Hedging Obligations” means the due and punctual payment of any and all
obligations of Holdings, the Borrower and each Subsidiary Loan Party arising under each Hedging Agreement that (a) is with a counterparty that is the Administrative Agent or an Affiliate of any of the foregoing, or any Person that, at the time
such Hedging Agreement was entered into, was the Administrative Agent or an Affiliate of any of the foregoing, (b) is in effect on the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender as of the Effective Date or
(c) is entered into after the Effective Date with a counterparty that is a Lender or an Affiliate of a Lender at the time such Hedging Agreement is entered into. Notwithstanding the foregoing, in the case of any Excluded Swap Guarantor,
“Secured Hedging Obligations” shall not include Excluded Swap Obligations of such Excluded Swap Guarantor. 
 “Secured
Parties” means (a) the Lenders, (b) the Administrative Agent, (c) each Issuing Bank, (d) each provider of Cash Management Services the obligations under which constitute Secured Cash Management Obligations, (e) each
counterparty to any Hedging Agreement the obligations under which constitute Secured Hedging Obligations and (f) the successors and assigns of each of the foregoing. 

“Security Interest” has the meaning assigned to such term in Section 4.01(a). 

“Subsidiary Loan Parties” means (a) the Restricted Subsidiaries identified on Schedule I and (b) each other
Restricted Subsidiary that becomes a party to this Agreement after the Effective Date. 
 “Supplement” means an instrument
in the form of Exhibit I hereto, or any other form approved by the Administrative Agent, and in each case reasonably satisfactory to the Administrative Agent. 

“Trademark License” means any written agreement, now or hereafter in effect, granting to any Person any right to use any
Trademark owned by any Grantor or that any Grantor otherwise has the right to license, or granting to any Grantor any right to use any Trademark owned by any other Person or that any other Person otherwise has the right to license, and all rights of
any Grantor under any such agreement. 
 “Trademarks” means, with respect to any Person, all of the following now owned or
hereafter acquired by such Person: (a) all right, title and interest in and to any trademarks, service marks, trade names, corporate names, company names, business names, fictitious business names, trade styles, trade dress, logos, other source
or business identifiers and designs, all registrations and recordings thereof, and all registrations and applications filed in connection therewith, including registrations and applications in the United States Patent and Trademark Office or any
similar offices in any State of the United States of America or any other country or any political subdivision thereof, and all renewals thereof, including those listed on Schedule III and (b) all goodwill associated therewith or
symbolized thereby. 

  
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 ARTICLE II 

Guarantee 
 SECTION 2.01.
Guarantee. Each Guarantor irrevocably and unconditionally guarantees, jointly with the other Guarantors and severally, as a primary obligor and not merely as a surety, for the benefit of the Secured Parties, the due and punctual payment and
performance of the Obligations. Each Guarantor further agrees that the Obligations may be extended or renewed, in whole or in part, or amended or modified, without notice to or further assent from it, and that it will remain bound upon its Guarantee
hereunder notwithstanding any such extension, renewal, amendment or modification of any Obligation. Each Guarantor waives presentment to, demand of payment from and protest to the Borrower or any other Loan Party of any of the Obligations, and also
waives notice of acceptance of its Guarantee hereunder and notice of protest for nonpayment. 
 SECTION 2.02. Guarantee of Payment;
Continuing Guarantee. Each Guarantor further agrees that its Guarantee hereunder constitutes a Guarantee of payment when due (whether or not any bankruptcy, insolvency, receivership or other or similar proceeding shall have stayed the accrual or
collection of any of the Obligations or operated as a discharge thereof) and not merely of collection, and waives any right to require that any resort be had by the Administrative Agent or any other Secured Party to any security held for the payment
of the Obligations or to any balance of any deposit account or credit on the books of the Administrative Agent or any other Secured Party in favor of the Borrower, any other Loan Party, or any other Person. Each Guarantor agrees that its Guarantee
hereunder is continuing in nature and applies to all Obligations, whether currently existing or hereafter incurred. 
 SECTION 2.03. No
Limitations. (a) Except for the termination or release of a Guarantor’s obligations hereunder as expressly provided in Section 7.12, the obligations of each 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 or set-off, counterclaim, recoupment or termination whatsoever by reason of the
invalidity, illegality or unenforceability of the Obligations, any impossibility in the performance of the Obligations, or otherwise. Without limiting the generality of the foregoing, the obligations of each Guarantor hereunder shall not be
discharged or impaired or otherwise affected by (i) the failure of the Administrative Agent or any other Secured Party to assert any claim or demand or to enforce any right or remedy under the provisions of any Loan Document or otherwise;
(ii) any rescission, waiver, amendment or modification of, or any release from any of the terms or provisions of, any Loan Document or any other agreement, including with respect to any other Guarantor under this Agreement; (iii) the
release of any security held by the Administrative Agent or any other Secured Party for any of the Obligations; (iv) any default, failure or delay, wilful or otherwise, in the performance of any of the Obligations; or (v) any other act or
omission that may in any manner or to any extent otherwise operate as a discharge of any Guarantor as a matter of law or equity (other than the Payment in Full of all the Obligations). Each Guarantor

  
 6 

 
expressly authorizes the Secured Parties to take and hold security for the payment and performance of the Obligations, to exchange, waive or release any or all such security (with or without
consideration), to enforce or apply such security and direct the order and manner of any sale thereof in their sole discretion or to release or substitute any one or more other guarantors or obligors upon or in respect of the Obligations, all
without affecting the obligations of any Guarantor hereunder. 
 (b) To the fullest extent permitted by applicable law, each Guarantor
waives any defense based on or arising out of any defense of Holdings, the Borrower or any other Loan Party or the unenforceability of the Obligations or any part thereof from any cause, or the cessation from any cause of the liability of Holdings,
the Borrower or any other Loan Party, other than the Payment in Full of all the Obligations. The Administrative Agent and the other Secured Parties may, at their election, foreclose on any security held by one or more of them by one or more judicial
or nonjudicial sales, accept an assignment of any such security in lieu of foreclosure, compromise or adjust any part of the Obligations, make any other accommodation with the Borrower or any other Loan Party or exercise any other right or remedy
available to them against the Borrower or any other Loan Party, without affecting or impairing in any way the liability of any Guarantor hereunder except to the extent the Obligations have been Paid in Full. To the fullest extent permitted by
applicable law, each Guarantor waives any defense arising out of any such election even though such election operates, pursuant to applicable law, to impair or to extinguish any right of reimbursement or subrogation or other right or remedy of such
Guarantor against the Borrower or any other Loan Party, as the case may be, or any security. 
 SECTION 2.04. Reinstatement. Each
Guarantor agrees that, unless released pursuant to Section 7.12(b), its Guarantee hereunder shall continue to be effective or be reinstated, as the case may be, if at any time payment, or any part thereof, of any Obligation is rescinded or must
otherwise be restored or returned by the Administrative Agent or any other Secured Party upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower, any other Loan Party or otherwise. 

SECTION 2.05. Agreement to Pay; Subrogation. In furtherance of the foregoing and not in limitation of any other right that the
Administrative Agent or any other Secured Party has at law or in equity against any Guarantor by virtue hereof, upon the failure of the Borrower or any other Loan Party to pay any Obligation when and as the same shall become due, whether at
maturity, by acceleration, after notice of prepayment or otherwise, each Guarantor hereby promises to and will forthwith pay, or cause to be paid, to the Administrative Agent for distribution to the applicable Secured Parties in cash the amount of
such unpaid Obligation. Upon payment by any Guarantor of any sums to the Administrative Agent as provided above, all rights of such Guarantor against the Borrower or any other Loan Party arising as a result thereof by way of right of subrogation,
contribution, reimbursement, indemnity or otherwise shall in all respects be subject to Article VI. 

  
 7 

 SECTION 2.06. Cross-Guaranty. Each Guarantor that is not an Excluded Swap Guarantor at the
time the Guarantee or the grant of the security interest hereunder, in each case, by any Loan Party, becomes effective with respect to any Swap Obligation, hereby jointly and severally, absolutely, unconditionally and irrevocably undertakes to
provide such funds or other support to each Loan Party with respect to such Swap Obligation as may be needed by such Loan Party from time to time to honor all of its obligations under its Guarantee and the other Loan Documents in respect of such
Swap Obligation (but, in each case, only up to the maximum amount of such liability that can be hereby incurred without rendering such Guarantor’s obligations and undertakings under this Article II voidable under applicable law relating to
fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations and undertakings of each such Guarantor under this Section shall remain in full force and effect until the Loan Document Obligations have been Paid in
Full. Each such Guarantor intends this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a “support or other agreement” for the benefit of, each Loan Party for all purposes of
§ 1a(18)(A)(v)(II) of the Commodity Exchange Act. 
 SECTION 2.07. Information. Each Guarantor (a) assumes all
responsibility for being and keeping itself informed of the Borrower’s and each other Loan Party’s and their respective subsidiaries’ financial condition and assets, and of all other circumstances bearing upon the risk of nonpayment
of the Obligations and the nature, scope and extent of the risks that such Guarantor assumes and incurs hereunder, and (b) agrees that none of the Administrative Agent or the other Secured Parties will have any duty to advise such Guarantor of
information known to it or any of them regarding such circumstances or risks. 
 ARTICLE III 

Pledge of Securities 

SECTION 3.01. Pledge. As security for the payment or performance, as the case may be, in full of the Obligations, each Grantor hereby
assigns and pledges to the Administrative Agent, its successors and assigns, for the benefit of the Secured Parties, and hereby grants to the Administrative Agent, its successors and assigns, for the benefit of the Secured Parties, a security
interest in all of such Grantor’s right, title and interest in, to and under (a)(i) the shares of capital stock and other Equity Interests of the Borrower and any wholly-owned Restricted Subsidiary that is also a Material Subsidiary now
directly owned or at any time hereafter acquired by such Grantor, including those set forth opposite the name of such Grantor on Schedule II, and (ii) all certificates and any other instruments representing all such Equity Interests
(collectively, the “Pledged Equity Interests”); provided that the Pledged Equity Interests shall not include (v) more than 65% of the outstanding Voting Equity Interests of any first-tier Foreign Subsidiary or any
Foreign-Subsidiary Holding Company, (w) any of the outstanding Voting Equity Interests of any Foreign Subsidiary that is not a first-tier Foreign Subsidiary, (x) any Equity Interests to the extent that and for so long as a pledge of such
Equity Interests is prohibited by any Requirements of Law or contract, (y) any Equity Interests to the extent that and for so long as a pledge of such Equity Interests would result in material adverse

  
 8 

 
tax consequences to the Borrower and its subsidiaries, taken as a whole, as reasonably determined in good faith by the Borrower or (z) any Equity Interests as to which the Administrative
Agent and the Borrower reasonably determine that the costs of obtaining such security interests in such Equity Interests or perfection thereof are excessive in relation to the benefit to the Lenders of the security to be afforded thereby (so long as
any contractual restriction is not incurred in contemplation of such entity becoming a subsidiary of Holdings) (the Equity Interests so excluded being collectively referred to herein as the “Excluded Equity Interests”);
(b)(i) any debt securities now owned or at any time hereafter acquired by such Grantor, including those listed opposite the name of such Grantor on Schedule II, and (ii) all promissory notes and any other instruments evidencing all
such debt securities (collectively, the “Pledged Debt Securities”); (c) subject to Section 3.06, all payments of principal or interest, dividends, cash, instruments and other property from time to time received, receivable
or otherwise distributed in respect of, in exchange for or upon the conversion of, and all other Proceeds received in respect of, the securities and instruments referred to in clauses (a) and (b) above; (d) subject to
Section 3.06, all rights and privileges of such Grantor with respect to the securities, instruments and other property referred to in clauses (a), (b) and (c) above; and (e) all Proceeds of any and all of the foregoing (the
items referred to in clauses (a) through (e) above being collectively referred to as the “Pledged Collateral”). 

SECTION 3.02. Delivery of the Pledged Collateral. (a) Each Grantor agrees promptly to deliver or cause to be delivered to the
Administrative Agent any and all Pledged Securities (i) on the Effective Date, in the case of any such Pledged Securities owned by such Grantor on the Effective Date, and (ii) within 30 days following the acquisition thereof by such
Grantor, in the case of any such Pledged Securities acquired by such Grantor after the Effective Date. 
 (b) Each Grantor will
(i) cause all Indebtedness of Holdings, the Borrower and each Subsidiary that, in each case, is owing to such Grantor to be evidenced by the Global Intercompany Note, (ii) cause the Global Intercompany Note to be pledged and delivered to
the Administrative Agent pursuant to the terms hereof and (iii) cause all Indebtedness (other than Permitted Investments) of any Person other than Holdings, the Borrower or any Restricted Subsidiary in a principal amount of $10,000,000 or more
that is owing to a Grantor to be evidenced by a promissory note that is pledged and delivered to the Administrative Agent pursuant to the terms hereof. 

(c) Upon delivery to the Administrative Agent, (i) any Pledged Securities shall be accompanied by undated stock powers duly executed by
the applicable Grantor in blank or other undated instruments of transfer reasonably satisfactory to the Administrative Agent and by such other instruments and documents as the Administrative Agent may reasonably request and (ii) all other
property comprising part of the Pledged Collateral shall be accompanied by proper undated instruments of assignment duly executed by the applicable Grantor in blank and such other instruments and documents as the Administrative Agent may reasonably
request. Each delivery of Pledged Securities after the date hereof shall be accompanied by a schedule describing the Pledged Securities so delivered, which schedule shall be deemed attached to and to supplement Schedule II and be made a part
hereof, provided that failure to provide any such schedule or any error therein shall not affect the validity of the pledge of any Pledged Securities. 

  
 9 

 SECTION 3.03. Representations and Warranties. The Grantors jointly and severally represent
and warrant to the Administrative Agent, for the benefit of the Secured Parties, that: 
 (a) Schedule II sets forth, as of
the Effective Date, a true and complete list, with respect to each Grantor, of (i) all Pledged Equity Interests owned by such Grantor and the percentage of the issued and outstanding units of each class of the Equity Interests of the issuer
thereof represented by such Pledged Equity Interests owned by such Grantor and (ii) all Pledged Debt Securities owned by such Grantor and all promissory notes and other instruments evidencing such Pledged Debt Securities, other than any Pledged
Debt Security, or promissory note or other instrument evidencing any Pledged Debt Security, evidencing a Permitted Investment or Indebtedness of any Person (other than Holdings, the Borrower or any Subsidiary) in a principal amount not in excess of
$10,000,000; 
 (b) the Pledged Equity Interests and Pledged Debt Securities have been issued by the issuers thereof and, in
the case of such Pledged Equity Interests and Pledged Debt Securities issued by Holdings, the Borrower or a Restricted Subsidiary, have been duly and validly authorized and (i) in the case of such Pledged Equity Interests, are fully paid and
nonassessable and (ii) in the case of such Pledged Debt Securities, are legal, valid and binding obligations of the issuers thereof; subject to applicable bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium or other laws
affecting creditors’ rights generally and to general principles of equity, regardless of whether considered in a proceeding in equity or at law; 

(c) except for the security interests granted hereunder, each of the Grantors (i) is and, subject to any transfers made in
compliance with the Credit Agreement, will continue to be the direct owner, beneficially and of record, of the Pledged Securities indicated on Schedule II as owned by such Grantor, (ii) holds the same free and clear of all Liens (other than
Liens created under the Loan Documents and Permitted Encumbrances), (iii) will make no assignment, pledge, hypothecation or transfer of, or create or permit to exist any security interest in or other Lien on, the Pledged Collateral (other than
Liens created under the Loan Documents, Permitted Encumbrances and transfers made in compliance with the Credit Agreement) and (iv) will defend its title or interest thereto or therein against any and all Liens (other than Liens created under
the Loan Documents and Permitted Encumbrances), however arising, of all Persons whomsoever; and 
 (d) except as disclosed on
Schedule II or any supplemental schedule furnished pursuant to Section 3.02(c), and except for restrictions and limitations imposed by the Loan Documents or securities laws generally, and, in the case of clause (ii) below, except for
limitations existing as of the Effective Date in the articles or certificate of incorporation, bylaws or other organizational documents 

  
 10 

 
of Holdings, the Borrower or any Restricted Subsidiary, (i) the Pledged Collateral is and will continue to be freely transferable and assignable, and (ii) none of the Pledged Collateral
is or will be subject to any option, right of first refusal, shareholders agreement, charter or bylaw provisions or contractual restriction of any nature that might prohibit, impair, delay or otherwise affect the pledge of such Pledged Collateral
hereunder, the sale or disposition thereof pursuant hereto or the exercise by the Administrative Agent of rights and remedies hereunder. 

SECTION 3.04. Certification of Limited Liability Company and Limited Partnership Interests. Each Grantor acknowledges and agrees that
(i) to the extent any interest in any limited liability company or unlimited liability company or limited partnership controlled now or in the future by any Grantor and pledged hereunder is a “security” within the meaning of Article 8
of the New York UCC and is governed by Article 8 of the New York UCC, such interest shall be at all times hereafter represented by a certificate and shall be at all times hereafter a “security” within the meaning of Article 8 of the
New York UCC and governed by Article 8 of the New York UCC and (ii) to the extent any interest in any limited liability company or unlimited liability company or limited partnership controlled now or in the future by any Grantor and
pledged hereunder is not a “security” within the meaning of Article 8 of the New York UCC, such Grantor shall at no time elect to treat any such interest as a “security” within the meaning of Article 8 of the New York UCC,
nor shall such interest be represented by a certificate, unless such Grantor provides prior written notification to the Administrative Agent of such election and such interest is thereafter represented by a certificate that is promptly delivered to
the Administrative Agent pursuant to the terms hereof. 
 SECTION 3.05. Registration in Nominee Name; Denominations. During the
continuance of an Event of Default, the Administrative Agent, on behalf of the Secured Parties, shall have the right (in its sole and absolute discretion) to hold the Pledged Securities in its own name as pledgee, in the name of its nominee (as
pledgee or as sub-agent) or in the name of the applicable Grantor, endorsed or assigned in blank or in favor of the Administrative Agent. During the continuance of an Event of Default, each Grantor will promptly give to the Administrative Agent
copies of any notices or other communications received by it with respect to Pledged Securities registered in the name of such Grantor. The Administrative Agent shall at all times during the continuance of an Event of Default have the right to
exchange the certificates representing Pledged Securities for certificates of smaller or larger denominations for any purpose consistent with this Agreement. 

SECTION 3.06. Voting Rights; Dividends and Interest. (a) Unless and until an Event of Default shall have occurred and be
continuing and the Administrative Agent shall have notified the Grantors that their rights under this Section 3.06 are being suspended: 

(i) each Grantor shall be entitled to exercise any and all voting and/or other consensual rights and powers inuring to an owner
of Pledged Collateral or any part thereof for any purpose consistent with the terms of this Agreement and the other Loan Documents; provided that such rights and powers shall not be exercised in any manner that could reasonably be expected to
materially and adversely affect the rights and remedies of a holder of any Pledged Collateral; 

  
 11 

 (ii) the Administrative Agent shall execute and deliver to each Grantor, or cause
to be executed and delivered to such Grantor, all such proxies, powers of attorney and other instruments as such Grantor may reasonably request for the purpose of enabling such Grantor to exercise the voting and/or consensual rights and powers it is
entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06; and 
 (iii) each Grantor shall be entitled to
receive and retain any and all dividends, interest, principal and other distributions paid on or distributed in respect of the Pledged Collateral, but only to the extent that such dividends, interest, principal and other distributions are permitted
by, and otherwise paid or distributed in accordance with, the terms and conditions of the Credit Agreement, the other Loan Documents and applicable laws, provided that any noncash dividends, interest, principal or other distributions that
would constitute Pledged Equity Interests or Pledged Debt Securities, whether resulting from a subdivision, combination or reclassification of the outstanding Equity Interests of the issuer of any Pledged Securities or received in exchange for
Pledged Securities or any part thereof, or in redemption thereof, or as a result of any merger, consolidation, acquisition or other exchange of assets to which such issuer may be a party or otherwise, shall be and become part of the Pledged
Collateral and, if received by any Grantor, and required to be delivered to the Administrative Agent hereunder, shall not be commingled by such Grantor with any of its other funds or property but shall be held separate and apart therefrom, shall be
held in trust for the benefit of the Administrative Agent and shall be forthwith delivered to the Administrative Agent in the same form as so received (with any necessary endorsements, stock powers or other instruments of transfer). 

(b) Upon the occurrence and during the continuance of an Event of Default, after the Administrative Agent shall have notified the Grantors of
the suspension of their rights under paragraph (a)(iii) of this Section 3.06, then all rights of any Grantor to dividends, interest, principal or other distributions that such Grantor is authorized to receive pursuant to paragraph (a)(iii)
of this Section 3.06, shall cease, and all such rights shall thereupon become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to receive and retain such dividends, interest, principal or other
distributions. All dividends, interest, principal or other distributions received by any Grantor contrary to the provisions of this Section 3.06 shall be held in trust for the benefit of the Administrative Agent, shall be segregated from other
property or funds of such Grantor and shall be forthwith delivered to the Administrative Agent upon demand in the same form as so received (with any necessary endorsements, stock or note powers or other instruments of transfer). Any and all money
and other property paid over to or received by the Administrative Agent pursuant to the provisions of this paragraph (b) shall be retained by the Administrative Agent in an account to be established by the Administrative Agent upon receipt of
such money or other property shall be held as security for the payment and performance of the Obligations and shall be applied in 

  
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accordance with the provisions of Section 5.02. After all Events of Default have been cured or waived and the Borrower has delivered to the Administrative Agent a certificate of a Financial
Officer of the Borrower to that effect, the Administrative Agent shall promptly repay to each Grantor (without interest) all dividends, interest, principal or other distributions that such Grantor would otherwise have been permitted to retain
pursuant to the terms of paragraph (a)(iii) of this Section 3.06 and that remain in such account. 
 (c) Upon the occurrence and during
the continuance of an Event of Default, after the Administrative Agent shall have notified the Grantors of the suspension of their rights under paragraph (a)(i) of this Section 3.06, then all rights of any Grantor to exercise the voting and
consensual rights and powers it is entitled to exercise pursuant to paragraph (a)(i) of this Section 3.06, and the obligations of the Administrative Agent under paragraph (a)(ii) of this Section 3.06, shall cease, and all such
rights shall thereupon become vested in the Administrative Agent, which shall have the sole and exclusive right and authority to exercise such voting and consensual rights and powers, provided that, unless otherwise directed by the Required
Lenders, the Administrative Agent shall have the right from time to time following and during the continuance of an Event of Default to permit the Grantors to exercise such rights. 

(d) Any notice given by the Administrative Agent to the Grantors suspending their rights under paragraph (a) of this Section 3.06
(i) may be given by telephone if promptly confirmed in writing, (ii) may be given to one or more of the Grantors at the same or different times and (iii) may suspend the rights and powers of the Grantors under paragraph (a)(i) or
paragraph (a)(iii) in part without suspending all such rights or powers (as specified by the Administrative Agent in its sole and absolute discretion) and without waiving or otherwise affecting the Administrative Agent’s right to give
additional notices from time to time suspending other rights and powers so long as an Event of Default has occurred and is continuing. 

ARTICLE IV 
 Security Interests
in Personal Property 
 SECTION 4.01. Security Interest. (a) As security for the payment or performance, as the case may be,
in full of the Obligations and subject to Section 4.01(d), each Grantor hereby grants to the Administrative Agent, its successors and assigns, for the benefit of the Secured Parties, a security interest (the “Security
Interest”) in all right, title and interest in, to and under any and all of the following assets now owned or at any time hereafter acquired by such Grantor or in, to or under which such Grantor now has or at any time hereafter may acquire
any right, title or interest (collectively, the “Article 9 Collateral”): 
 (i) all Accounts; 

(ii) all Chattel Paper; 

  
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 (iii) all cash, cash equivalents and Deposit Accounts; 

(iv) all Documents; 

(v) all Equipment; 

(vi) all General Intangibles, including all Intellectual Property; 

(vii) all Instruments; 

(viii) all Inventory; 

(ix) all other Goods; 

(x) all Investment Property; 

(xi) all Letter-of-Credit Rights; 

(xii) all Commercial Tort Claims specifically described on Schedule IV, as such schedule may be supplemented from time to
time pursuant to Section 4.02(f); 
 (xiii) all books and records pertaining to the Article 9 Collateral; and 

(xiv) to the extent not otherwise included, all Proceeds and products of any and all of the foregoing and all collateral
security and guarantees given by any Person with respect to any of the foregoing. 
 (b) Each Grantor hereby irrevocably authorizes the
Administrative Agent (or its designee) at any time and from time to time to file in any relevant jurisdiction any initial financing statements (including fixture filings) with respect to the Article 9 Collateral or any part thereof and
amendments thereto that (i) indicate the Collateral as all assets, whether now owned or at any time hereafter acquired, of such Grantor or words of similar effect as being of an equal or lesser scope or with greater detail, and
(ii) contain the information required by Article 9 of the Uniform Commercial Code of each applicable jurisdiction for the filing of any financing statement or amendment, including (A) whether such Grantor is an organization, the type
of organization and any organizational identification number, if any, issued to such Grantor and (B) in the case of a financing statement filed as a fixture filing, a sufficient description of the real property to which such Article 9
Collateral relates. Each Grantor agrees to provide such information to the Administrative Agent promptly upon request. 
 Each Grantor also
ratifies its authorization for the Administrative Agent (or its designee) to file in any relevant jurisdiction any financing statements or amendments thereto if filed prior to the date hereof. 

The Administrative Agent (or its designee) is further authorized to file with the United States Patent and Trademark Office or United States
Copyright Office (or 

  
 14 

 
any successor office or any similar office in any other country) such documents as may be necessary or advisable for the purpose of perfecting, confirming, continuing, enforcing or protecting the
Security Interest granted by each Grantor, without the signature of any Grantor, and naming any Grantor or the Grantors as debtors and the Administrative Agent as secured party. 

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

(d) Notwithstanding anything herein to the contrary, in no event shall the security interest granted hereunder attach to (i) any assets
if, to the extent and for so long as the grant of a Lien thereon to secure the Obligations is prohibited by any Requirements of Law or contract (so long as any contractual restriction is not incurred in contemplation of such entity becoming a
subsidiary of Holdings) (other than to the extent that any such prohibition would be rendered ineffective pursuant to any other applicable Requirements of Law, including pursuant to Sections 9-406, 9-407,
9-408 or 9-409 of the New York UCC); provided that such security interest shall attach immediately at such time as the condition causing such prohibition shall no longer exist and, to the extent severable, shall attach immediately to any
portion of such asset that does not result in such prohibition, (ii) any Excluded Equity Interests, (iii) any motor vehicles owned or any other assets subject to certificates of title, to the extent that a security interest therein cannot
be perfected by the filing of a Uniform Commercial Code financing statement, (iv) any intent-to-use trademark application, (v) Letter-of-Credit Rights to the extent that a security interest therein cannot be perfected by the filing of a
Uniform Commercial Code financing statement and Commercial Tort Claims, in each case with a value, as reasonable determined by the Borrower, of less than $1,000,000, (vi) any governmental licenses or state or local franchises, charters and
authorizations, to the extent security interests in such licenses, franchises, charters or authorizations are prohibited or restricted thereby (other than to the extent that any such prohibition would be rendered ineffective pursuant to any other
applicable Requirements of Law, including pursuant to Sections 9-406, 9-407, 9-408 or 9-409 of the New York UCC), (vii) any leasehold interest to the extent that a
security interest therein cannot be perfected by the filing of a Uniform Commercial Code financing statement, (viii) any foreign Intellectual Property; (ix) any assets to the extent that such security interests would result in material
adverse tax consequences to the Borrower and its subsidiaries, taken as a whole, as reasonably determined in good faith by the Borrower and (x) any assets as to which the Administrative Agent and the Borrower reasonably determine that the costs
of obtaining such security interests in such assets or perfection thereof are excessive in relation to the benefit to the Lenders of the security to be afforded thereby (the items referred to in clauses (i) through (x) above being
collectively referred to as the “Excluded Personal Property”); provided that Excluded Personal Property shall not include any Proceeds, substitutions or replacements of any Excluded Personal Property (unless such Proceeds,
substitutions or replacements would constitute Excluded Personal Property). 

  
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 SECTION 4.02. Representations and Warranties. The Grantors jointly and severally represent
and warrant to the Administrative Agent for the benefit of the Secured Parties that: 
 (a) Each Grantor has good and valid rights in and
title to the Article 9 Collateral with respect to which it has purported to grant the Security Interest. 
 (b) A Perfection Certificate has
been duly prepared, completed and executed and the information set forth therein, including the exact legal name of each Grantor, is correct and complete as of the Effective Date. The Uniform Commercial Code financing statements (including fixture
filings, as applicable) or other appropriate filings, recordings or registrations prepared by the Administrative Agent based upon the information provided to the Administrative Agent in the Perfection Certificate for filing in each governmental,
municipal or other office specified in Schedules 2A and 2B to the Perfection Certificate (or specified by notice from the Borrower to the Administrative Agent after the Effective Date in the case of filings, recordings or registrations required
by Section 5.03(a) or 5.12 of the Credit Agreement), are all the filings, recordings and registrations (other than filings required to be made in the United States Patent and Trademark Office and the United States Copyright Office in order to
perfect the Security Interest in Article 9 Collateral consisting of United States Patents, Trademarks and Copyrights) that are necessary to publish notice of and protect the validity of and to establish a legal, valid and perfected security
interest in favor of the Administrative Agent (for the benefit of the Secured Parties) in respect of all Article 9 Collateral in which the Security Interest may be perfected by filing, recording or registration in the United States of America
(or any political subdivision thereof) and its territories and possessions, and no further or subsequent filing, refiling, recording, rerecording, registration or reregistration is necessary in any such jurisdiction, except as provided under
applicable law with respect to the filing of continuation statements. A Patent Security Agreement substantially in the form of Exhibit II hereto, a Trademark Security Agreement substantially in the form of Exhibit III hereto and a
Copyright Security Agreement substantially in the form of Exhibit IV hereto (such agreements, collectively, the “IP Security Agreements”), in each case containing a description of the Article 9 Collateral consisting of
United States Patents, United States registered Trademarks (and Trademarks for which United States registration applications are pending) and United States registered Copyrights and exclusive Copyright Licenses, for which the applicable Grantor is
the licensee and the licensed work is registered at the United States Copyright Office, as applicable, and executed by each Grantor owning any such Article 9 Collateral, have been delivered to the Administrative Agent for recording with the
United States Patent and Trademark Office and the United States Copyright Office pursuant to 35 U.S.C. § 261, 15 U.S.C. § 1060 or 17 U.S.C. § 205 and the regulations thereunder, as
applicable, to establish a perfected security interest in favor of the Administrative Agent (for the benefit of the Secured Parties) in respect of all Article 9 Collateral consisting of Patents, Trademarks and Copyrights in which a security
interest may be perfected by filing, recording or registration in the above-referenced offices. 

  
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 (c) The Article 9 Collateral is owned by the Grantors, or the Grantors have rights in such
Article 9 Collateral, free and clear of any Lien, except for the Liens permitted under Section 6.02 of the Credit Agreement. 

(d) Schedule III sets forth, as of the Effective Date, a true and complete list, with respect to each Grantor, of (i) all Patents that
have been granted by the United States Patent and Trademark Office, (ii) all Copyrights that have been registered with the United States Copyright Office, (iii) all Trademarks that have been registered with the United States Patent and
Trademark Office and Trademarks for which United States registration applications are pending and (iv) all Copyright Licenses under which such Grantor is an exclusive licensee and the licensed work is registered at the United States Copyright
Office. In the event any Supplemental Perfection Certificate delivered pursuant to Section 5.03(b) of the Credit Agreement shall set forth any Intellectual Property, Schedule III shall be deemed to be supplemented to include the reference to
such Intellectual Property in the same form as such reference is set forth on such Supplemental Perfection Certificate. 
 (e) The
Intellectual Property listed in Schedule III hereto for each Grantor includes all Intellectual Property that such Grantor owns in connection with its business as of the Effective Date which is registered at the United States Patent and Trademark
Office or the United State Copyright Office. As of the Effective Date, all registrations of Intellectual Property listed in Schedule III are unexpired, subsisting and have not been canceled. 

SECTION 4.03. Covenants. (a) Each Grantor agrees promptly to notify the Administrative Agent in writing of any change (i) in
its legal name, (ii) in the location of its chief executive office or its principal place of business, (iii) in its identity or type of organization or corporate form, (iv) in its federal taxpayer identification number or
organizational identification number or (v) in its jurisdiction of organization. Each Grantor agrees to promptly provide the Administrative Agent with certified organizational documents reflecting any of the changes described in the first
sentence of this paragraph. Each Grantor agrees not to effect or permit any change referred to in the first sentence of this paragraph unless all filings have been made under the Uniform Commercial Code or otherwise that are required in order for
the Administrative Agent to continue at all times following such change to have a valid, legal and perfected security interest, having the priority required by this Agreement, in all the Article 9 Collateral. 

(b) Each Grantor shall, at its own expense, take any and all actions necessary to defend title to the Article 9 Collateral against all
Persons and to defend the Security Interest of the Administrative Agent in the Article 9 Collateral and the priority thereof against any Lien not permitted pursuant to Section 6.02 of the Credit Agreement. 

(c) At its option, the Administrative Agent may discharge past due Taxes, assessments, charges, fees and Liens at any time levied or placed on
the Article 9 Collateral that are not permitted by the Credit Agreement, and may pay for the maintenance and preservation of the Article 9 Collateral to the extent any Grantor fails to do so as required by this Agreement or the other Loan
Documents, and each Grantor 

  
 17 

 
jointly and severally agrees to reimburse the Administrative Agent on demand for any payment made or any expense incurred by the Administrative Agent pursuant to the foregoing authorization,
provided that nothing in this Section 4.03(c) shall be interpreted as excusing any Grantor from the performance of, or imposing any obligation on the Administrative Agent or any Secured Party to cure or perform, any covenants or other
promises of any Grantor with respect to Taxes, assessments, charges, fees and Liens and maintenance as set forth herein or in the other Loan Documents. 

(d) Each Grantor shall remain liable to observe and perform all the conditions and obligations to be observed and performed by it under each
contract, agreement or instrument relating to the Article 9 Collateral, all in accordance with the terms and conditions thereof. 
 (e)
None of the Grantors shall make or permit to be made any transfer of the Article 9 Collateral and, except as permitted by the Credit Agreement, each Grantor shall remain at all times in possession or control of the Article 9 Collateral owned by
it, except that the Grantors may use, license and dispose of the Article 9 Collateral in any lawful manner not inconsistent with the provisions of this Agreement (including Section 4.05(h)), the Credit Agreement or any other Loan Document
unless and until the Administrative Agent shall notify the Grantors that an Event of Default shall have occurred and be continuing and that during the continuance thereof the Grantors shall not sell, convey, lease, assign, transfer or otherwise
dispose of any Article 9 Collateral (which notice may be given by telephone if promptly confirmed in writing). 
 (f) None of the
Grantors will, without the Administrative Agent’s prior written consent, grant any extension of the time of payment of any Accounts included in the Article 9 Collateral, compromise, compound or settle the same for less than the full amount
thereof, release, wholly or partly, any Person liable for the payment thereof or allow any credit or discount whatsoever thereon, other than extensions, compromises, settlements, releases, credits or discounts granted or made in the ordinary course
of business and in accordance with such prudent practice used in industries that are the same as or similar to those in which such Grantor is engaged. 

(g) The Grantors, at their own expense, shall maintain or cause to be maintained insurance in accordance with the requirements set forth in
Section 5.07 of the Credit Agreement. Each Grantor irrevocably makes, constitutes and appoints the Administrative Agent (and all officers, employees or agents designated by the Administrative Agent) as such Grantor’s true and lawful agent
(and attorney-in-fact) for the purpose, upon the occurrence and during the continuance of an Event of Default, of making, settling and adjusting claims in respect of
Article 9 Collateral under policies of insurance, endorsing the name of such Grantor on any check, draft, instrument or other item of payment for the proceeds of such policies of insurance and for making all determinations and decisions with
respect thereto. In the event that any Grantor at any time or times shall fail to obtain or maintain any of the policies of insurance required by Section 5.07 of the Credit Agreement or to pay any premium in whole or part relating thereto, the
Administrative Agent may, without waiving or releasing any obligation or liability of the Grantors hereunder or any Event of Default, in its sole discretion, obtain 

  
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and maintain such policies of insurance and pay such premium and take any other actions with respect thereto as the Administrative Agent deems advisable. All sums disbursed by the Administrative
Agent in connection with this paragraph, including reasonable attorneys’ fees, court costs, expenses and other charges relating thereto, shall be payable, upon demand, by the Grantors to the Administrative Agent and shall be additional
Obligations secured hereby. 
 SECTION 4.04. Other Actions. In order to further ensure the attachment, perfection and priority of,
and the ability of the Administrative Agent to enforce, the Security Interest, each Grantor agrees, in each case at such Grantor’s own expense, to take the following actions with respect to the following Article 9 Collateral: 

(a) Instruments and Tangible Chattel Paper. If any Grantor shall at any time hold or acquire any Instruments (other than
any instrument with a face amount of less than $10,000,000) or Tangible Chattel Paper, such Grantor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such instruments of transfer or assignment duly
executed in blank as the Administrative Agent may from time to time reasonably request. 
 (b) [Reserved]. 

(c) Investment Property. Except to the extent otherwise provided in Article III, if any Grantor shall at any time
hold or acquire any certificated securities required to be pledged hereunder, such Grantor shall forthwith endorse, assign and deliver the same to the Administrative Agent, accompanied by such undated instruments of transfer or assignment duly
executed in blank as the Administrative Agent may from time to time specify. If any securities now or hereafter acquired by any Grantor and required to be pledged hereunder are uncertificated and are issued to such Grantor or its nominee directly by
the issuer thereof, such Grantor shall immediately notify the Administrative Agent thereof and, at the Administrative Agent’s request and option, pursuant to an agreement in form and substance reasonably satisfactory to the Administrative
Agent, either (i) cause the issuer to agree to comply with instructions from the Administrative Agent as to such securities, without further consent of any Grantor or such nominee, or (ii) arrange for the Administrative Agent to become the
registered owner of the securities. 
 (d) [Reserved.] 

(e) Commercial Tort Claims. If any Grantor shall at any time hold or acquire a Commercial Tort Claim in an amount
reasonably estimated to exceed $1,000,000, the Grantor shall promptly notify the Administrative Agent thereof in a writing signed by such Grantor, including a summary description of such claim, and grant to the Administrative Agent in such writing a
security interest therein and in the proceeds thereof, all upon the terms of this Agreement, with such writing to be in form and substance reasonably satisfactory to the Administrative Agent. 

  
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 SECTION 4.05. Covenants Regarding Patent, Trademark and Copyright Collateral.
(a) Each Grantor agrees that it will not do any act or omit to do to any act (and will exercise commercially reasonable efforts to prevent its licensees from doing any act or omitting to do any act) whereby any United States Patent owned by
such Grantor material to the conduct of any Grantor’s business may become invalidated or dedicated to the public (except as a result of expiration of such Patent at the end of its statutory term), and each Grantor agrees that it, as determined
by such Grantor in its reasonable business judgment, shall continue to mark any products covered by any such Patent with the relevant patent number as necessary to establish and preserve its maximum rights under applicable patent laws. 

(b) Each Grantor (either itself or through its licensees or its sublicensees) will, for each United States Trademark owned by such Grantor
material to the conduct of any Grantor’s business, (i) maintain such Trademark in full force with respect to any material goods and services, free from any valid claim of abandonment or invalidity for
non-use for such goods and services, (ii) maintain in all material respects the quality of products and services offered under such Trademark and (iii) if registered, and if determined by such
Grantor in its reasonable business judgment, display such Trademark with notice of Federal or foreign registration to the extent necessary to establish and preserve its maximum rights under applicable law. 

(c) Each Grantor (either itself or through its licensees or sublicensees) will, for each work covered by a Copyright material to the conduct
of any Grantor’s business, and as determined by such Grantor in its reasonable business judgment, use commercially reasonable efforts to continue to publish, reproduce, display, adopt and distribute the work with appropriate copyright notice as
necessary to establish and preserve its maximum rights under applicable copyright laws. 
 (d) Each Grantor shall notify the Administrative
Agent promptly if it knows that any United States Patent, Trademark registration or application or Copyright registration owned by such Grantor material to the conduct of any Grantor’s business may become abandoned, lost or dedicated to the
public, or of any materially adverse determination or development (excluding routine office actions issued in the ordinary course of prosecution) regarding such Grantor’s ownership of such United States Patent, Trademark registration or
application or Copyright registration, its right to register the same, or its right to keep and maintain the same. 
 (e) Each Grantor will
take all necessary steps that are consistent with such Grantor’s reasonable business judgment (i) in any proceeding before the United States Patent and Trademark Office or United States Copyright Office, to maintain and pursue each
application relating to the United States Patents, Trademarks and/or Copyrights that such Grantor owns and that is material to the conduct of such Grantor’s business (and to obtain the relevant grant or registration) and (ii) to maintain
each such issued United States Patent and each registration of the United States Trademarks and Copyrights material to the conduct of any Grantor’s business, including timely filings of applications for renewal, affidavits of use and payment of
maintenance fees, and, if and to the extent consistent with reasonable business judgment as determined by such Grantor, to initiate opposition, interference and cancellation proceedings against third parties. 

  
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 (f) In the event that any Grantor has reason to believe that any Article 9 Collateral
consisting of United States Intellectual Property owned by such Grantor and material to the conduct of any Grantor’s business has been or is about to be materially infringed, misappropriated or diluted by a third party, such Grantor promptly
shall notify the Administrative Agent and shall, if consistent with reasonable business judgment as determined by such Grantor, promptly sue for infringement, misappropriation or dilution and to recover any and all damages for such infringement,
misappropriation or dilution, and take such other actions as are appropriate under the circumstances in the reasonable business judgment of such Grantor to protect such Article 9 Collateral. 

(g) Nothing in this Agreement shall prevent any Grantor from disposing of, discontinuing the use or maintenance of, failing to preserve,
protect, pursue, renew, extend or keep in full force and effect, or otherwise allow to lapse, terminate, become invalid or unenforceable or dedicate to the public domain any of its Intellectual Property, to the extent permitted by the Credit
Agreement. 
 ARTICLE V 

Remedies 
 SECTION 5.01.
Remedies Upon Default. Upon the occurrence and during the continuance of an Event of Default, each Grantor agrees to deliver each item of Collateral to the Administrative Agent on demand, and it is agreed that the Administrative Agent shall
have the right to take any of or all the following actions at the same or different times: (a) with respect to any Article 9 Collateral consisting of Intellectual Property, on demand, to cause the Security Interest to become an assignment,
transfer and conveyance of any of or all such Article 9 Collateral by the applicable Grantors to the Administrative Agent, for the benefit of the Secured Parties, or to license or sublicense, whether general, special or otherwise, and whether on an
exclusive or nonexclusive basis, any such Article 9 Collateral throughout the world on such terms and conditions and in such manner as the Administrative Agent shall determine (other than in violation of any
then-existing licensing or other contractual arrangements to the extent that waivers cannot be obtained), and (b) with or without legal process and with or without prior notice or demand for performance,
to take possession of the Article 9 Collateral and without liability for trespass to enter any premises where the Article 9 Collateral may be located for the purpose of taking possession of or removing the Article 9 Collateral and,
generally, to exercise any and all rights afforded to a secured party under the Uniform Commercial Code or other applicable law. Without limiting the generality of the foregoing, each Grantor agrees that the Administrative Agent shall have the
right, subject to the mandatory requirements of applicable law, to sell or otherwise dispose of all or any part of the Collateral at a public or private sale or at any broker’s board or on any securities exchange, for cash, upon credit or for
future delivery as the Administrative Agent shall deem appropriate. The Administrative Agent shall be authorized at any such sale of securities (if it deems it advisable to do so) to restrict the 

  
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prospective bidders or purchasers to Persons who will represent and agree that they are purchasing the Collateral for their own account for investment and not with a view to the distribution or
sale thereof, and upon consummation of any such sale the Administrative Agent shall have the right to assign, transfer and deliver to the purchaser or purchasers thereof the Collateral so sold. Each such purchaser at any sale of Collateral shall
hold the property sold absolutely free from any claim or right on the part of any Grantor, and each Grantor hereby waives (to the fullest extent permitted by applicable law) all rights of redemption, stay and appraisal that such Grantor now has or
may at any time in the future have under any rule of law or statute now existing or hereafter enacted. 
 The Administrative Agent shall
give the applicable Grantors no less than 10 days’ prior written notice (which each Grantor agrees is reasonable notice within the meaning of Section 9-611 of the New York UCC or its
equivalent in other jurisdictions) of the Administrative Agent’s intention to make any sale of Collateral. Such notice, in the case of a public sale, shall state the time and place for such sale and, in the case of a sale at a broker’s
board or on a securities exchange, shall state the board or exchange at which such sale is to be made and the day on which the Collateral or portion thereof, will first be offered for sale at such board or exchange. Any such public sale shall be
held at such time or times within ordinary business hours and at such place or places as the Administrative Agent may fix and state in the notice (if any) of such sale. At any such sale, the Collateral, or portion thereof, to be sold may be sold in
one lot as an entirety or in separate parcels, as the Administrative Agent may (in its sole and absolute discretion) determine. The Administrative Agent shall not be obligated to make any sale of any Collateral if it shall determine not to do so,
regardless of the fact that notice of sale of such Collateral shall have been given. The Administrative Agent may, without notice or publication, adjourn any public or private sale or cause the same to be adjourned from time to time by announcement
at the time and place fixed for sale, and such sale may, without further notice, be made at the time and place to which the same was so adjourned. In case any sale of all or any part of the Collateral is made on credit or for future delivery, the
Collateral so sold may be retained by the Administrative Agent until the sale price is paid by the purchaser or purchasers thereof, but neither the Administrative Agent nor any other Secured Party shall incur any liability in case any such purchaser
or purchasers shall fail to take up and pay for the Collateral so sold and, in case of any such failure, such Collateral may be sold again upon like notice. In the event of a foreclosure by the Administrative Agent on any of the Collateral pursuant
to a public or private sale or other disposition, the Administrative Agent or any Lender may be the purchaser or licensor of any or all of such Collateral at any such sale or other disposition, and the Administrative Agent, at the direction of the
Required Lenders, as agent for and representative of the Secured Parties (but not any Lender or Lenders in its or their respective individual capacities unless the Required Lenders shall otherwise agree in writing) shall be entitled, for the purpose
of bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply any of the Loan Document Obligations as a credit on account of the purchase price for any
Collateral payable by the Administrative Agent on behalf of the Secured Parties at such sale or other disposition. For purposes hereof, a written agreement to purchase the Collateral or any portion thereof shall be treated as a sale thereof; the
Administrative Agent shall be free to carry out such sale pursuant to such 

  
 22 

 
agreement and no Grantor shall be entitled to the return of the Collateral or any portion thereof subject thereto, notwithstanding the fact that after the Administrative Agent shall have entered
into such an agreement all Events of Default shall have been remedied and the Loan Document Obligations Paid in Full. As an alternative to exercising the power of sale herein conferred upon it, the Administrative Agent may proceed by a suit or suits
at law or in equity to foreclose this Agreement and to sell the Collateral or any portion thereof pursuant to a judgment or decree of a court or courts having competent jurisdiction or pursuant to a proceeding by a
court-appointed receiver. Any sale pursuant to the provisions of this Section 5.01 shall be deemed to conform to commercially reasonable standards as provided in
Section 9-610(b) of the New York UCC or its equivalent in other jurisdictions. 
 SECTION
5.02. Application of Proceeds. The Administrative Agent shall apply the proceeds of any collection, sale, foreclosure or other realization upon the Collateral, including any Collateral consisting of cash, as follows: 

FIRST, to the payment of all costs and expenses incurred by, and all indemnity and fee obligations (other than contingent
indemnification and expense reimbursement obligations for which no claim has been made) owed to, the Administrative Agent in connection with such collection, sale, foreclosure or other realization or otherwise in connection with this Agreement, any
other Loan Document or any of the Obligations, including all court costs and the fees and expenses of its agents and legal counsel, the repayment of all advances made by the Administrative Agent hereunder or under any other Loan Document on behalf
of any Grantor and any other costs or expenses incurred in connection with the exercise of any right or remedy hereunder or under any other Loan Document; 

SECOND, to the Payment in Full of the Obligations (the amounts so applied to be distributed among the Secured Parties pro rata
in accordance with the amounts of the Obligations owed to them on the date of any such distribution); and 
 THIRD, to the
Grantors, their successors or assigns, or as a court of competent jurisdiction may otherwise direct. 
 Notwithstanding the foregoing, no amounts received
from any Excluded Swap Guarantor shall be applied to any Excluded Swap Obligations of such Excluded Swap Guarantor. 
 The Administrative
Agent shall have absolute discretion as to the time of application of any such proceeds, moneys or balances in accordance with this Agreement. Upon any sale of Collateral by the Administrative Agent (including pursuant to a power of sale granted by
statute or under a judicial proceeding), the receipt of the Administrative Agent or of the officer making the sale shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be
obligated to see to the application of any part of the purchase money paid over to the Administrative Agent or such officer or be answerable in any way for the misapplication thereof. 

  
 23 

 SECTION 5.03. Grant of License to Use Intellectual Property. Solely for the purpose of
enabling the Administrative Agent to exercise rights and remedies under this Agreement at such time as the Administrative Agent shall be lawfully entitled to exercise such rights and remedies, each Grantor hereby grants to the Administrative Agent
an irrevocable, nonexclusive license (exercisable without payment of royalty or other compensation to the Grantors and effective solely upon the occurrence and solely during the continuation of an Event of Default) to use, license or sublicense any
of the Article 9 Collateral consisting of United States Intellectual Property now owned or hereafter acquired by such Grantor, and wherever the same may be located, and including in such license reasonable access to all media in which any of
the licensed items may be recorded or stored and to all computer software and programs used for the compilation or printout thereof, provided that such nonexclusive license and/or sublicense does not violate the express terms of any agreement
between a Grantor and a third party, or gives such third party any right of acceleration, modification or cancellation therein. The use of such license by the Administrative Agent may be exercised, at the option of the Administrative Agent, solely
upon the occurrence and solely during the continuation of an Event of Default, provided that any license, sublicense or other transaction entered into by the Administrative Agent in accordance herewith shall be binding upon the Grantors
notwithstanding any subsequent cure of an Event of Default. 
 SECTION 5.04. Securities Act. In view of the position of the Grantors
in relation to the Pledged Collateral, or because of other current or future circumstances, a question may arise under the Securities Act, as now or hereafter in effect, or any similar statute hereafter enacted analogous in purpose or effect (such
Act and any such similar statute as from time to time in effect, the “Federal Securities Laws”) with respect to any disposition of the Pledged Collateral permitted hereunder. Each Grantor understands that compliance with the Federal
Securities Laws might very strictly limit the course of conduct of the Administrative Agent if the Administrative Agent were to attempt to dispose of all or any part of the Pledged Collateral, and might also limit the extent to which or the manner
in which any subsequent transferee of any Pledged Collateral could dispose of the same. Similarly, there may be other legal restrictions or limitations affecting the Administrative Agent in any attempt to dispose of all or part of the Pledged
Collateral under applicable Blue Sky or other state securities laws or similar laws analogous in purpose or effect. Each Grantor recognizes that in light of such restrictions and limitations the Administrative Agent may, with respect to any sale of
the Pledged Collateral, limit the purchasers to those who will agree, among other things, to acquire such Pledged Collateral for their own account, for investment, and not with a view to the distribution or resale thereof. Each Grantor acknowledges
and agrees that in light of such restrictions and limitations, the Administrative Agent, in its sole and absolute discretion, (a) may proceed to make such a sale whether or not a registration statement for the purpose of registering such
Pledged Collateral or part thereof shall have been filed under the Federal Securities Laws and (b) may approach and negotiate with a single potential purchaser to effect such sale. Each Grantor acknowledges and agrees that any such sale might
result in prices and other terms less favorable to the seller than if such sale were a public sale without such restrictions. In the event of any such sale, the Administrative Agent shall incur no responsibility or liability for selling all or any
part of the Pledged Collateral at a price that the Administrative Agent, in its sole and absolute discretion, 

  
 24 

 
may in good faith deem reasonable under the circumstances, notwithstanding the possibility that a substantially higher price might have been realized if the sale were deferred until after
registration as aforesaid or if more than a single purchaser were approached. The provisions of this Section 5.04 will apply notwithstanding the existence of a public or private market upon which the quotations or sales prices may exceed
substantially the price at which the Administrative Agent sells. 
 ARTICLE VI 

Indemnity, Subrogation and Subordination 

SECTION 6.01. Indemnity and Subrogation. In addition to all such rights of indemnity and subrogation as the Guarantors may have under
applicable law (but subject to Section 6.03), the Borrower agrees that (a) in the event a payment in respect of any Obligation shall be made by any Guarantor under this Agreement, the Borrower shall indemnify such Guarantor for the full
amount of such payment and such Guarantor shall be subrogated to the rights of the Person to whom such payment shall have been made to the extent of such payment and (b) in the event any assets of any Grantor shall be sold pursuant to this
Agreement or any other Security Document to satisfy in whole or in part any Obligation, the Borrower shall indemnify such Grantor in an amount equal to the greater of the book value or the fair market value of the assets so sold. 

SECTION 6.02. Contribution and Subrogation. Each Guarantor and Grantor (a “Contributing Party”) agrees (subject to
Section 6.03) that, in the event a payment shall be made by any other Guarantor hereunder in respect of any Obligation or assets of any other Grantor (other than Holdings or the Borrower) shall be sold pursuant to any Security Document to
satisfy any Obligation and such other Guarantor or Grantor (the “Claiming Party”) shall not have been fully indemnified by the Borrower as provided in Section 6.01, the Contributing Party shall indemnify the Claiming Party in
an amount equal to the amount of such payment or the greater of the book value or the fair market value of such assets, as the case may be, in each case multiplied by a fraction of which the numerator shall be the net worth of the Contributing Party
on the date hereof and the denominator shall be the aggregate net worth of all the Guarantors and Grantors on the date hereof (or, in the case of any Guarantor or Grantor becoming a party hereto pursuant to Section 7.13, the date of the
supplement hereto executed and delivered by such Guarantor or Grantor). Any Contributing Party making any payment to a Claiming Party pursuant to this Section 6.02 shall (subject to Section 6.03) be subrogated to the rights of such
Claiming Party under Section 6.01 to the extent of such payment. 
 SECTION 6.03. Subordination. (a) Notwithstanding any
provision of this Agreement to the contrary, all rights of the Guarantors and Grantors under Sections 6.01 and 6.02 and all other rights of the Guarantors and Grantors of indemnity, contribution or subrogation under applicable law or otherwise
shall be fully subordinated to the Payment in Full of the Obligations. No failure on the part of the Borrower or any other Guarantor or Grantor to make the payments required by Sections 6.01 and 6.02 (or any other payments required under
applicable law or otherwise) shall in any respect limit the obligations and liabilities of any Guarantor or Grantor with respect to its obligations hereunder, and each Guarantor and Grantor shall remain liable for the full amount of the obligations
of such Guarantor or Grantor hereunder. 

  
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 (b) Each Guarantor and Grantor hereby agrees and acknowledges that (i) all Indebtedness and
other monetary obligations owed to it by any other Guarantor or Grantor and (ii) all Indebtedness and other monetary obligations owed by it to any other Guarantor or Grantor or any other Restricted Subsidiary shall, in each case, be fully
subordinated to the Payment in Full of the Obligations. 
 ARTICLE VII 

Miscellaneous 
 SECTION
7.01. Notices. All communications and notices to Holdings, the Borrower and the Administrative Agent hereunder shall (except as otherwise expressly permitted herein) be given as provided in Section 9.01 of the Credit Agreement. All
communications and notices hereunder to any Subsidiary Loan Party shall be given to it in care of the Borrower as provided in Section 9.01 of the Credit Agreement. 

SECTION 7.02. Waivers; Amendment. (a) No failure or delay by any Secured Party in exercising any right or power under any Loan
Document shall operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the
exercise of any other right or power. The rights and remedies of the Secured Parties hereunder and under the other Loan Documents are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any
provision of this Agreement or consent to any departure by any Loan Party therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section 7.02, and then such waiver or consent shall be
effective only in the specific instance and for the purpose for which given. Without limiting the generality of the foregoing, the execution and delivery of this Agreement, the making of a Loan or issuance, amendment, renewal or extension of a
Letter of Credit shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent, any Lender or any Issuing Bank may have had notice or knowledge of such Default at the time. No notice or demand on any Loan Party in
any case shall entitle any Loan Party to any other or further notice or demand in similar or other circumstances. 
 (b) Neither this
Agreement nor any provision hereof may be waived, amended or modified except pursuant to an agreement or agreements in writing entered into by the Administrative Agent and the Loan Parties with respect to which such waiver, amendment or modification
is applicable, subject to any consent required in accordance with Section 9.02 of the Credit Agreement; provided that the Administrative Agent may, without the consent of any Secured Party, consent to a departure by any Loan Party from any
covenant of such Loan Party set forth herein to the extent such departure is consistent with the authority of the Administrative Agent set forth in the definition of the term “Collateral and Guarantee Requirement” in the Credit Agreement.

  
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 (c) This Agreement shall be construed as a separate agreement with respect to each Loan Party and
may be amended, modified, supplemented, waived or released with respect to any Loan Party without the approval of any other Loan Party and without affecting the obligations of any other Loan Party hereunder. 

SECTION 7.03. Administrative Agent’s Fees and Expenses. (a) The Loan Parties jointly and severally agree to reimburse the
Administrative Agent for its fees and expenses incurred hereunder as provided in Section 9.03 of the Credit Agreement; provided that each reference therein to “Holdings” or the “Borrower” shall be deemed to be a
reference to the “Loan Parties.” 
 (b) Any such amounts payable as provided hereunder shall be additional Obligations secured
hereby and by the other Security Documents. The provisions of this Section 7.03 shall survive and remain in full force and effect regardless of the termination of this Agreement or any other Loan Document, the consummation of the transactions
contemplated hereby or thereby, the repayment of any of the Obligations, the invalidity or unenforceability of any term or provision of this Agreement or any other Loan Document or any investigation made by or on behalf of the Administrative Agent
or any other Secured Party. 
 SECTION 7.04. Survival of Agreement. All covenants, agreements, representations and warranties made by
the Loan Parties in the Loan Documents and in the certificates or other instruments delivered in connection with or pursuant to this Agreement or any other Loan Document shall be considered to have been relied upon by the Secured Parties and shall
survive the execution and delivery of the Loan Documents and the making of any Loans and issuance of any Letters of Credit, regardless of any investigation made by or on behalf of any Secured Party or any other Person and notwithstanding that any
Secured Party or any other Person may have had notice or knowledge of any Default or incorrect representation or warranty at the time any Loan Document is executed and delivered or any credit is extended under the Credit Agreement, and shall
continue in full force and effect until all the Loan Document Obligations have been Paid in Full, the Lenders have no further commitment to lend, the LC Exposure has been reduced to zero and the Issuing Banks have no further obligations to issue,
amend, or extend Letters of Credit under the Credit Agreement. 
 SECTION 7.05. Counterparts; Effectiveness, Successors and Assigns.
This Agreement may be executed in counterparts, (and by different parties hereto on different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. This Agreement shall
become effective as to any Loan Party when a counterpart hereof executed on behalf of such Loan Party shall have been delivered to the Administrative Agent and a counterpart hereof shall have been executed on behalf of the Administrative Agent, and
thereafter shall be binding upon such Loan Party and the Administrative Agent and their respective permitted successors and assigns, and shall inure to the benefit of such Loan Party, the 

  
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Administrative Agent and the other Secured Parties and their respective permitted successors and assigns, except that no Loan Party may assign or otherwise transfer any of its rights or
obligations hereunder or any interest herein or in the Collateral (and any such assignment or transfer by any Loan Party shall be null and void), except as expressly contemplated by this Agreement or the Credit Agreement. Delivery of an executed
counterpart of a signature page of this Agreement by facsimile or other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. 

SECTION 7.06. Severability. Any provision of this Agreement held to be invalid, illegal or unenforceable in any jurisdiction shall, as
to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions hereof; and the invalidity of a particular provision in a
particular jurisdiction shall not invalidate such provision in any other jurisdiction. 
 SECTION 7.07. Right of Set-Off. If an Event
of Default shall have occurred and be continuing, each Lender and Issuing Bank and each of their respective Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by applicable law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final), in whatever currency) or other amounts at any time held and other obligations (in whatever currency) at any time owing by such Lender or Issuing Bank or any such
Affiliate to or for the credit or the account of any Loan Party against any of or all the obligations then due of such Loan Party now or hereafter existing under this Agreement held by such Lender or Issuing Bank or any such Affiliate, irrespective
of whether or not such Lender or Issuing Bank or any such Affiliate shall have made any demand under this Agreement. Each Lender and Issuing Bank agrees to notify the Loan Parties and the Administrative Agent promptly after any such setoff and
application; provided that the failure to give or any delay in giving such notice shall not affect the validity of any such setoff and application under this Section. The rights of each Lender and Issuing Bank and each of their respective
Affiliates under this Section 7.07 are in addition to other rights and remedies (including other rights of set-off) that such Lender or Affiliate may have. 

SECTION 7.08. Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement and any claim, controversy, dispute
or cause of action (whether in contract or tort or otherwise) based upon, arising out of or relating to this Agreement shall be governed by, and construed in accordance with, the law of the State of New York. 

(b) Each Loan Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Supreme
Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action, litigation or proceeding arising out of or relating to
any Loan Document, or for recognition or enforcement of any judgment, and each Loan Party hereby irrevocably and unconditionally agrees that all claims in respect of any such action, litigation or 

  
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proceeding may be heard and determined in such New York State or, to the fullest extent permitted by applicable law, in such Federal court. Each Loan Party agrees that a final judgment in
any such action, litigation or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement or any other Loan Document shall affect any right that
the Administrative Agent, any Lender or any Issuing Bank may otherwise have to bring any action, litigation or proceeding relating to this Agreement or any other Loan Document against any Loan Party or any of its properties in the courts of any
jurisdiction. 
 (c) Each Loan Party hereby irrevocably and unconditionally waives, to the fullest extent permitted by applicable law, any
objection that it may now or hereafter have to the laying of venue of any action, litigation or proceeding arising out of or relating to this Agreement or any other Loan Document in any court referred to in paragraph (b) of this
Section 7.08. Each Loan Party hereby irrevocably waives, to the fullest extent permitted by applicable law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

(d) Each Loan Party irrevocably consents to service of process in the manner provided for notices in Section 7.01. Nothing in this
Agreement or any other Loan Document will affect the right of any party to this Agreement to serve process in any other manner permitted by law. 

SECTION 7.09. WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT, ANY OTHER LOAN DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). EACH PARTY HERETO (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING
WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 7.09. 

SECTION 7.10. Headings. Article and Section headings and the Table of Contents used herein are for convenience of reference only, are
not part of this Agreement and shall not affect the construction of, or be taken into consideration in interpreting, this Agreement. 

SECTION 7.11. Security Interest Absolute. All rights of the Administrative Agent hereunder, the Security Interest, the grant of the
security interest in the Pledged Collateral and all obligations of each Loan Party hereunder shall be absolute and unconditional irrespective of (a) any lack of validity or enforceability of the Credit

  
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Agreement, any other Loan Document, any agreement with respect to any of the Obligations or any other agreement or instrument relating to any of the foregoing, (b) any change in the time,
manner or place of payment of, or in any other term of, all or any of the Obligations, or any other amendment to or waiver of, or any consent to any departure from, the Credit Agreement, any other Loan Document, any agreement with respect to any of
the Obligations or any other agreement or instrument relating to any of the foregoing, (c) any exchange, release or non-perfection of any Lien on other collateral securing, or any release or amendment to or waiver of, or any consent to any
departure from, any guarantee of, all or any of the Obligations, or (d) any other circumstance that might otherwise constitute a defense available to, or a discharge of, any Loan Party in respect of the Obligations or this Agreement (other than
a release of any Grantor or Guarantor in accordance with Section 7.12). 
 SECTION 7.12. Termination or Release. (a) This
Agreement, the Guarantees made herein, the Security Interest and all other security interests granted hereby shall terminate and be released when all the Loan Document Obligations have been Paid in Full and the Lenders have no further commitment to
lend, the LC Exposure has been reduced to zero and the Issuing Banks have no further obligations to issue, amend or extend Letters of Credit under the Credit Agreement. 

(b) A Subsidiary Loan Party shall automatically be released from its obligations hereunder and the Security Interest in the Collateral of such
Subsidiary Loan Party shall be automatically released upon the consummation of any transaction permitted by the Credit Agreement as a result of which such Subsidiary Loan Party ceases to be a Restricted Subsidiary or as otherwise expressly permitted
under Section 9.14 of the Credit Agreement. 
 (c) Upon any sale or other transfer by any Grantor of any Collateral that is permitted
under the Credit Agreement (other than a sale or other transfer to a Loan Party), or upon the effectiveness of any written consent to the release of the security interest granted hereby in any Collateral pursuant to Section 9.02 or
Section 9.14 of the Credit Agreement, the security interest in such Collateral shall be automatically released. 
 (d) In connection
with any termination or release pursuant to paragraph (a), (b) or (c) of this Section 7.12, the Administrative Agent shall execute and deliver to any Grantor, at such Grantor’s expense, all documents that such Grantor shall
reasonably request to evidence such termination or release. Any execution and delivery of documents pursuant to this Section 7.12 shall be without warranty by the Administrative Agent, and the Administrative Agent shall have no liability
whatsoever to any other Secured Party as a result of any release of Collateral by it in accordance with (or which the Administrative Agent in good faith believes to be in accordance with) this Section 7.12. 

SECTION 7.13. Additional Subsidiaries. Pursuant to the Credit Agreement, certain Restricted Subsidiaries not a party hereto on the
Effective Date are required to enter in this Agreement. Upon the execution and delivery by the Administrative Agent and any such Restricted Subsidiary of a Supplement, such 

  
 30 

 
Restricted Subsidiary shall become a Subsidiary Loan Party, a Guarantor and a Grantor hereunder, with the same force and effect as if originally named as such herein. The execution and delivery
of any Supplement shall not require the consent of any other Loan Party. The rights and obligations of each Loan Party hereunder shall remain in full force and effect notwithstanding the addition of any new Subsidiary Loan Party as a party to this
Agreement. 
 SECTION 7.14. Administrative Agent Appointed Attorney-in-Fact. Each Grantor hereby appoints the Administrative Agent
the attorney-in-fact of such Grantor for the purpose of carrying out the provisions of this Agreement and taking any action and executing any instrument that the Administrative Agent may deem necessary for the purpose of carrying out the provisions
of this Agreement and taking any action and executing any instrument that the Administrative Agent may deem necessary or advisable to accomplish the purposes hereof, which appointment is irrevocable and coupled with an interest. Without limiting the
generality of the foregoing, the Administrative Agent shall have the right, upon the occurrence and during the continuance of an Event of Default, with full power of substitution either in the Administrative Agent’s name or in the name of such
Grantor (a) to receive, endorse, assign and/or deliver any and all notes, acceptances, checks, drafts, money orders or other evidences of payment relating to the Collateral or any part thereof; (b) to demand, collect, receive payment of,
give receipt for and give discharges and releases of all or any of the Collateral; (c) to sign the name of any Grantor on any invoice or bill of lading relating to any of the Collateral; (d) to send verifications of Accounts Receivable to
any Account Debtor; (e) to commence and prosecute any and all suits, actions or proceedings at law or in equity in any court of competent jurisdiction to collect or otherwise realize on all or any of the Collateral or to enforce any rights in
respect of any Collateral; (f) to settle, compromise, compound, adjust or defend any actions, suits or proceedings relating to all or any of the Collateral; (g) to notify, or to require any Grantor to notify, Account Debtors to make
payment directly to the Administrative Agent; and (h) to use, sell, assign, transfer, pledge, make any agreement with respect to or otherwise deal with all or any of the Collateral, and to do all other acts and things necessary to carry out the
purposes of this Agreement, as fully and completely as though the Administrative Agent were the absolute owner of the Collateral for all purposes, provided that nothing herein contained shall be construed as requiring or obligating the
Administrative Agent to make any commitment or to make any inquiry as to the nature or sufficiency of any payment received by the Administrative Agent, or to present or file any claim or notice, or to take any action with respect to the Collateral
or any part thereof or the moneys due or to become due in respect thereof or any property covered thereby. The Administrative Agent and the other Secured Parties shall be accountable only for amounts actually received as a result of the exercise of
the powers granted to them herein, and neither they nor their officers, directors, employees or agents shall be responsible to any Grantor for any act or failure to act hereunder, except for their own gross negligence or wilful misconduct (as
determined by a court of competent jurisdiction in a final and non-appealable judgment). 
 SECTION 7.15. Certain Acknowledgments and
Agreements. Each Subsidiary Loan Party hereby acknowledges the provisions of Section 2.15 of the Credit Agreement and agrees to be bound by such provisions with the same force and effect, and to the same extent, as if such Subsidiary Loan
Party were a party to the Credit Agreement. 

  
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 SECTION 7.16. Secured Cash Management Obligations and Secured Hedge Obligations. No
Secured Party that obtains the benefit of this Agreement shall have any right to notice of any action or to consent to, direct or object to any action hereunder or otherwise in respect of the Collateral (including, without limitation, the release or
impairment of any Collateral) other than in its capacity as the Administrative Agent or a Lender, as applicable, and, in any such case, only to the extent expressly provided in the Loan Documents, including Article VIII of the Credit Agreement.
Each Secured Party not a party to the Credit Agreement that obtains the benefit of this Agreement shall be deemed to have acknowledged and accepted the appointment of the Administrative Agent pursuant to the terms of the Credit Agreement, including
under Article VIII of the Credit Agreement. 
 [Signature Pages Follow] 

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

							
	ALLEGION PUBLIC LIMITED COMPANY,
			
		 	by	 	 /s/ Barbara A. Santoro

		 		 	Name:	 	Barbara A. Santoro
		 		 	Title:	 	Director

  

							
	ALLEGION US HOLDING COMPANY INC.,
			
		 	by	 	 /s/ Barbara A. Santoro

		 		 	Name:	 	Barbara A. Santoro
		 		 	Title:	 	Vice President

  

							
	SCHLAGE LOCK COMPANY LLC,
			
		 	by	 	 /s/ Barbara A. Santoro

		 		 	Name:	 	Barbara A. Santoro
		 		 	Title:	 	Secretary
	
	VON DUPRIN LLC,
			
		 	by	 	 /s/ Barbara A. Santoro

		 		 	Name:	 	Barbara A. Santoro
		 		 	Title:	 	Secretary

  
 33 

 
							
	JPMORGAN CHASE BANK, N.A., as Administrative Agent,
			
		 	by	 	 /s/ Aized Rabbani

		 		 	Name:	 	Aized Rabbani
		 		 	Title:	 	Executive Director

  
 34 

 Exhibit I to the 

Guarantee and 
 Collateral Agreement

 SUPPLEMENT NO.      dated as of [    ] (this “Supplement”), to the
Guarantee and Collateral Agreement dated as of November 26, 2013 (the “Collateral Agreement”), among Allegion US Holding Company Inc., a Delaware corporation (the “Borrower”), Allegion Public Limited Company, an Irish
public limited company (“Holdings”), each Restricted Subsidiary of Holdings listed on Schedule I thereto (each such subsidiary individually a “Subsidiary Guarantor” and, collectively, the “Subsidiary
Guarantors”; the Subsidiary Guarantors, Holdings and the Borrower are referred to collectively herein as the “Grantors”) and JPMORGAN CHASE BANK, N.A., (“JPMCB”), as Administrative Agent (in such capacity,
the “Administrative Agent”). 
 A. Reference is made to the Credit Agreement dated as of November 26, 2013 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the Borrower, Holdings, the Lenders and Issuing Banks from time to time party thereto and JPMCB, as Administrative Agent. 

B. Capitalized terms used herein and not otherwise defined herein shall have the meanings assigned to such terms in the Credit Agreement and
the Collateral Agreement, as applicable. 
 C. The Guarantors and Grantors have entered into the Collateral Agreement in order to induce the
Lenders and the Issuing Banks to make extensions of credit under the Credit Agreement. Section 7.13 of the Collateral Agreement provides that additional Restricted Subsidiaries of the Borrower may become Subsidiary Loan Parties under the
Collateral Agreement by execution and delivery of an instrument in the form of this Supplement. The undersigned Restricted Subsidiary (the “New Subsidiary”) is executing this Supplement in accordance with the requirements of the
Credit Agreement to become a Subsidiary Loan Party under the Collateral Agreement in order to induce the Lenders and the Issuing Banks to make additional extensions of credit and as consideration for such extensions of credit previously made. 

Accordingly, the Administrative Agent and the New Subsidiary agree as follows: 

SECTION 1. In accordance with Section 7.13 of the Collateral Agreement, the New Subsidiary by its signature below becomes a Subsidiary
Loan Party, a Grantor and a Guarantor under the Collateral Agreement with the same force and effect as if originally named therein as a Subsidiary Loan Party, a Grantor and a Guarantor and the New Subsidiary hereby (a) agrees to all the terms
and provisions of the Collateral Agreement applicable to it as a Subsidiary Loan Party, a Grantor and a Guarantor thereunder and (b) represents and warrants that the representations and warranties made

 
by it as a Grantor and a Guarantor thereunder are true and correct on and as of the date hereof. In furtherance of the foregoing, the New Subsidiary, as security for the payment and performance
in full of the Obligations (as defined in the Collateral Agreement), does hereby create and grant to the Administrative Agent, its successors and assigns, for the benefit of the Secured Parties, their successors and assigns, a security interest in
all of the New Subsidiary’s right, title and interest in, to and under the Collateral (as defined in the Collateral Agreement) of the New Subsidiary. Each reference to a “Subsidiary Loan Party”, a “Guarantor” or a
“Grantor” in the Collateral Agreement shall be deemed to include the New Subsidiary. The Collateral Agreement is hereby incorporated herein by reference. 

SECTION 2. The New Subsidiary represents and warrants to the Administrative Agent and the other Secured Parties that this Supplement has been
duly authorized, executed and delivered by it and constitutes its legal, valid and binding obligation, enforceable against it in accordance with its terms. 

SECTION 3. This Supplement may be executed in counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract. This Supplement shall become effective when the Administrative Agent shall have received a counterpart of this Supplement that bears the signature of
the New Subsidiary and the Administrative Agent has executed a counterpart hereof. Delivery of an executed signature page to this Supplement by facsimile or other electronic imaging shall be effective as delivery of a manually executed counterpart
of this Supplement. 
 SECTION 4. The New Subsidiary hereby represents and warrants that (a) set forth on Schedule I attached
hereto is a schedule with the true and correct legal name of the New Subsidiary, its jurisdiction of formation and the location of its chief executive office, (b) set forth on Schedule II attached hereto is a true and correct schedule of
all the Pledged Securities of the New Subsidiary, (c) set forth on Schedule III attached hereto is a true and correct schedule of Intellectual Property consisting of Copyrights, Patents and Trademarks of the New Subsidiary and (d) set
forth in Schedule IV attached hereto is a true and correct list of all Commercial Tort Claims in respect of which a complaint or counterclaim has been filed by the New Subsidiary seeking damages reasonably estimated to exceed $1,000,000,
including a summary description of each such claim. 
 SECTION 5. Except as expressly supplemented hereby, the Collateral Agreement shall
remain in full force and effect. 
 SECTION 6. THIS SUPPLEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE
STATE OF NEW YORK. 
 SECTION 7. In case any one or more of the provisions contained in this Supplement should be held invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and in the 

  
 2 

 
Collateral Agreement shall not in any way be affected or impaired thereby (it being understood that the invalidity of a particular provision in a particular jurisdiction shall not in and of
itself affect the validity of such provision in any other jurisdiction). The parties hereto shall endeavor in good-faith negotiations to replace the invalid, illegal or unenforceable provisions with valid provisions the economic effect of which
comes as close as possible to that of the invalid, illegal or unenforceable provisions. 
 SECTION 8. All communications and notices
hereunder shall be in writing and given as provided in Section 7.01 of the Collateral Agreement. 
 SECTION 9. The New Subsidiary
agrees to reimburse the Administrative Agent for its reasonable out-of-pocket expenses in connection with this Supplement, including the reasonable fees, charges and disbursements of counsel for the Administrative Agent, as provided in
Section 9.03 of the Credit Agreement; provided that each reference therein to “Holdings” or the “Borrower” shall be deemed to be a reference to the New Subsidiary. 

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

					
	[NAME OF NEW SUBSIDIARY],
			
		 	by	 	  

		 		 	Name:
		 		 	Title:
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent

			
		 	by	 	  

		 		 	Name:
		 		 	Title:

  
 3 

 Schedule I 

to Supplement No.      to the 

Guarantee and 
 Collateral Agreement

 NEW SUBSIDIARY INFORMATION 
  

					
	 Name
	  	 Jurisdiction of Formation
	  	 Chief Executive Office

		  		  	
		  		  	
		  		  	

 Schedule II 

to Supplement No.      to the 

Guarantee and 
 Collateral Agreement

 PLEDGED SECURITIES 

Equity Interests 
  

									
	 Issuer
	  	Number of
Certificate	  	Registered
Owner	  	Number and
Class of
Equity Interests	  	Percentage
of Equity Interests
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 Debt Securities 
  

							
	 Issuer
	  	Principal
Amount	  	Date of Note	  	Maturity Date
		  		  		  	
		  		  		  	
		  		  		  	

 Schedule III 

to Supplement No.      to the 

Guarantee and 
 Collateral Agreement

 INTELLECTUAL PROPERTY 

 Schedule IV 

to Supplement No.      to the 

Guarantee and 
 Collateral Agreement

 COMMERCIAL TORT CLAIMS 

 Exhibit II to 

the Guarantee and 
 Collateral
Agreement 
 PATENT SECURITY AGREEMENT dated as of [—] (this
“Agreement”), between [APPLICABLE GRANTOR(S)] (the “Grantors”) and JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent. 

Reference is made to (a) the Credit Agreement dated as of November 26, 2013 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Allegion US Holding Company Inc., as the Borrower, Allegion Public Limited Company, the Lenders and Issuing Banks from time to time party thereto
and JPMCB, as Administrative Agent, and (b) the Guarantee and Collateral Agreement dated as of November 26, 2013 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Collateral
Agreement”), among the Borrower, Holdings, the Subsidiary Loan Parties from time to time party thereto and JPMCB, as Administrative Agent. The Lenders and the Issuing Banks have extended, and have agreed to extend, credit to the Borrower
subject to the terms and conditions set forth in the Credit Agreement. The Grantors (other than the Borrower) are Affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower under the Credit Agreement
and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Each capitalized term used but not otherwise defined herein shall have the meaning specified in the Credit Agreement
or the Collateral Agreement, as applicable. The rules of construction specified in Section 1.03 of the Credit Agreement also apply to this Agreement, mutatis mutandis. 

SECTION 2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, each
Grantor, pursuant to the Collateral Agreement, did and hereby does grant to the Administrative Agent and its permitted successors and assigns, for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and
interest in, to and under the portion of the Article 9 Collateral constituting Patents (including those listed on Schedule I hereto), subject to the exclusions set forth in Section 4.01(d) of the Collateral Agreement (collectively, the
“Patent Collateral”). 
 SECTION 3. Collateral Agreement. This Agreement has been executed and delivered by the
Grantor for the purpose of recording the grant of security interest herein with the United States Patent and Trademark Office. The security interest granted hereby has been granted to the Administrative Agent for the benefit of the Lenders in
connection with the Collateral Agreement and is expressly subject to the terms and conditions thereof. Each Grantor hereby acknowledges and affirms that the rights and remedies of the Administrative Agent with respect to the Patent Collateral are
more fully set forth in the Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any conflict between the terms of this Agreement and the Collateral
Agreement, the terms of the Collateral Agreement shall govern. 

 SECTION 4. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or
other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 5. CHOICE OF
LAW. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. 
 [SIGNATURE PAGES FOLLOW] 

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

			
	[—],
	
	as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

 [SIGNATURE PAGE TO PATENT SECURITY AGREEMENT] 

 SCHEDULE I 

Patents 
  

									
	 Registered Owner
	  	 Title of Patent
	  	 Registration

Number
	  	 Issue

Date
	  	 Expiration

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 Patent Applications 
  

							
	 Registered Owner
	  	 Title of Patent
	  	 Application

Number
	  	 Date Filed

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 Exhibit III to 

the Guarantee and 
 Collateral
Agreement 
 TRADEMARK SECURITY AGREEMENT dated as of [—] (this
“Agreement”), between [APPLICABLE GRANTOR(S)] (the “Grantors”) and JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent. 

Reference is made to (a) the Credit Agreement dated as of November 26, 2013 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Allegion US Holding Company Inc., as the Borrower, Allegion Public Limited Company, the Lenders and Issuing Banks from time to time party thereto
and JPMCB, as Administrative Agent, and (b) the Guarantee and Collateral Agreement dated as of November 26, 2013 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Collateral
Agreement”), among the Borrower, Holdings, the Subsidiary Loan Parties from time to time party thereto and JPMCB, as Administrative Agent. The Lenders and the Issuing Banks have extended, and have agreed to extend, credit to the Borrower
subject to the terms and conditions set forth in the Credit Agreement. The Grantors (other than the Borrower) are Affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower under the Credit Agreement
and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Each capitalized term used but not otherwise defined herein shall have the meaning specified in the Credit Agreement
or the Collateral Agreement, as applicable. The rules of construction specified in Section 1.03 of the Credit Agreement also apply to this Agreement, mutatis mutandis. 

SECTION 2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, each
Grantor, pursuant to the Collateral Agreement, did and hereby does grant to the Administrative Agent and its permitted successors and assigns, for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and
interest in, to and under the portion of the Article 9 Collateral constituting Trademarks (including those listed on Schedule I hereto but excluding any Trademarks that are Excluded Personal Property), subject to the exclusions set forth in
Section 4.01(d) of the Collateral Agreement (collectively, the “Trademark Collateral”). 
 SECTION 3. Collateral
Agreement. This Agreement has been executed and delivered by the Grantor for the purpose of recording the grant of security interest herein with the United States Patent and Trademark Office. The security interest granted hereby has been granted
to the Administrative Agent for the benefit of the Lenders in connection with the Collateral Agreement and is expressly subject to the terms and conditions thereof. Each Grantor hereby acknowledges and affirms that the rights and remedies of the
Administrative Agent with respect to the Trademark Collateral are more fully set forth in the Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any
conflict between the terms of this Agreement and the Collateral Agreement, the terms of the Collateral Agreement shall govern. 

 SECTION 4. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or
other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 5. CHOICE OF
LAW. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. 
 [SIGNATURE PAGES FOLLOW] 

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

			
	[—],
	
	as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

 [SIGNATURE PAGE TO TRADEMARK SECURITY AGREEMENT] 

 SCHEDULE I 

Trademarks 
  

									
	 Registered Owner
	  	 Mark
	  	 Application No.
	  	 Registration No.
	  	 Registration Date

		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	
		  		  		  		  	

 Trademark Applications 
  

							
	 Registered Owner
	  	 Mark
	  	 Application No.
	  	 Filing Date

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 Exhibit IV to 

the Guarantee and 
 Collateral
Agreement 
 COPYRIGHT SECURITY AGREEMENT dated as of [—] (this
“Agreement”), between [APPLICABLE GRANTOR(S)] (the “Grantors”) and JPMorgan Chase Bank, N.A. (“JPMCB”), as Administrative Agent. 

Reference is made to (a) the Credit Agreement dated as of November 26, 2013 (as amended, restated, amended and restated,
supplemented or otherwise modified from time to time, the “Credit Agreement”), among Allegion US Holding Company Inc., as the Borrower, Allegion Public Limited Company, the Lenders and Issuing Banks from time to time party thereto
and JPMCB, as Administrative Agent, and (b) the Guarantee and Collateral Agreement dated as of November 26, 2013 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Collateral
Agreement”), among the Borrower, Holdings, the Subsidiary Loan Parties from time to time party thereto and JPMCB, as Administrative Agent. The Lenders and the Issuing Banks have extended, and have agreed to extend, credit to the Borrower
subject to the terms and conditions set forth in the Credit Agreement. The Grantors (other than the Borrower) are Affiliates of the Borrower, will derive substantial benefits from the extension of credit to the Borrower under the Credit Agreement
and are willing to execute and deliver this Agreement in order to induce the Lenders and the Issuing Banks to extend such credit. Accordingly, the parties hereto agree as follows: 

SECTION 1. Terms. Each capitalized term used but not otherwise defined herein shall have the meaning specified in the Credit Agreement
or the Collateral Agreement, as applicable. The rules of construction specified in Section 1.03 of the Credit Agreement also apply to this Agreement, mutatis mutandis. 

SECTION 2. Grant of Security Interest. As security for the payment or performance, as the case may be, in full of the Obligations, each
Grantor, pursuant to the Collateral Agreement, did and hereby does grant to the Administrative Agent and its permitted successors and assigns, for the benefit of the Secured Parties, a security interest in all of such Grantor’s right, title and
interest in, to and under the portion of the Article 9 Collateral constituting Copyrights and Copyright Licenses under which Grantor is an exclusive licensee (including those listed on Schedule I hereto), subject to the exclusions set forth in
Section 4.01(d) of the Collateral Agreement (collectively, the “Copyright Collateral”). 
 SECTION 3. Collateral
Agreement. This Agreement has been executed and delivered by the Grantor for the purpose of recording the grant of security interest herein with the United States Copyright Office. The security interest granted hereby has been granted to the
Administrative Agent for the benefit of the Lenders in connection with the Collateral Agreement and is expressly subject to the terms and conditions thereof Each Grantor hereby acknowledges and affirms that the rights and remedies of the
Administrative Agent with respect to the Copyright Collateral are more fully set forth in the Collateral Agreement, the terms and provisions of which are hereby incorporated herein by reference as if fully set forth herein. In the event of any
conflict between the terms of this Agreement and the Collateral Agreement, the terms of the Collateral Agreement shall govern. 

 SECTION 4. Counterparts. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or
other electronic imaging shall be effective as delivery of a manually executed counterpart of this Agreement. 
 SECTION 5. CHOICE OF
LAW. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE
STATE OF NEW YORK. 
 [SIGNATURE PAGES FOLLOW] 

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

			
	[—],
	
	as Grantor
		
	By:	 	  

		 	Name:
		 	Title:
	
	 JPMORGAN CHASE BANK, N.A.,
 as
Administrative Agent

		
	By:	 	  

		 	Name:
		 	Title:

 [SIGNATURE PAGE TO COPYRIGHT SECURITY AGREEMENT] 

 Exhibit IV to the 

Guarantee and 
 Collateral Agreement

 SCHEDULE I 

Copyrights 
  

							
	 Registered Owner
	  	 Title
	  	 Registration Number
	  	 Expiration Date

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 Copyright Applications 
  

							
	 Registered Owner
	  	 Title
	  	 Application Number
	  	 Date Filed

		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	
		  		  		  	

 Exclusive Copyright Licenses 
  

									
	 Licensee
	  	 Licensor
	  	 Title
	  	 Registration Number
	  	 Expiration DateEX-4.7

 Exhibit 4.7 
 SHAREHOLDERS’ AGREEMENT 
 dated as of 

November 29, 2013 
 among 
 TOPS MBO CORPORATION 

and 

ITS SHAREHOLDERS IDENTIFIED HEREIN 
 and 
 TOPS HOLDING II CORPORATION 

and 

ITS SHAREHOLDERS IDENTIFIED HEREIN 

 TABLE OF CONTENTS 

 

					
	 	  	PAGE	 
	 ARTICLE 1 DEFINITIONS
	  	 	1	  
	 Section 1.01 Definitions
	  	 	1	  
	 Section 1.02 Other Definitional and Interpretative Provisions
	  	 	7	  
		
	 ARTICLE 2 CORPORATE GOVERNANCE
	  	 	7	  
	 Section 2.01 Composition of the Board of MBOCo
	  	 	7	  
	 Section 2.02 Removal
	  	 	8	  
	 Section 2.03 Vacancies
	  	 	8	  
	 Section 2.04 Meetings
	  	 	8	  
	 Section 2.05 Action by the Board of MBOCo
	  	 	8	  
	 Section 2.06 Charter or By-laws Provisions
	  	 	8	  
	 Section 2.07 Subsidiary Governance
	  	 	9	  
		
	 ARTICLE 3 RESTRICTIONS ON TRANSFER
	  	 	9	  
	 Section 3.01 General Restrictions on Transfer
	  	 	9	  
	 Section 3.02 Pledge in Connection with BOA Loan; Permitted Transfers by BOA
	  	 	9	  
	 Section 3.03 Legends
	  	 	9	  
	 Section 3.04 Permitted Transfer
	  	 	10	  
	 Section 3.05 Restrictions on Transfers
	  	 	10	  
	 Section 3.06 Additional Shareholders
	  	 	10	  
		
	 ARTICLE 4 TAG-ALONG RIGHTS; DRAG-ALONG RIGHTS;
	  			
	   RIGHT OF FIRST OFFER; APPROVED TRANSACTION
	  	 	10	  
	 Section 4.01 Tag-Along Rights
	  	 	10	  
	 Section 4.02 Drag-Along Rights
	  	 	13	  
	 Section 4.03 Additional Conditions to Tag-Along Sales and Drag-Along Sales
	  	 	14	  
	 Section 4.04 Right Of First Refusal
	  	 	15	  
	 Section 4.05 Call Right
	  	 	17	  
	 Section 4.06 Put Right
	  	 	19	  
	 Section 4.07 Approved Transaction
	  	 	20	  
		
	 ARTICLE 5 MARKET STAND-OFF AGREEMENT; NO EMPLOYMENT RIGHTS
	  	 	21	  
	 Section 5.01 No Registration Rights
	  	 	21	  
	 Section 5.02 Market Stand-Off Agreement
	  	 	21	  
	 Section 5.03 No Employment Rights
	  	 	21	  
		
	 ARTICLE 6 CERTAIN COVENANTS AND AGREEMENTS
	  	 	21	  
	 Section 6.01 Confidentiality
	  	 	21	  
	 Section 6.02 Conflicting Agreements
	  	 	23	  
		
	 ARTICLE 7 MISCELLANEOUS
	  	 	23	  
	 Section 7.01 Binding Effect; Assignability; Benefit
	  	 	23	  
	 Section 7.02 Notices
	  	 	23	  
	 Section 7.03 Waiver; Amendment
	  	 	24	  

  
 i 

					
	 Section 7.04 Fees and Expenses
	  	 	24	  
	 Section 7.05 Governing Law
	  	 	25	  
	 Section 7.06 Jurisdiction
	  	 	25	  
	 Section 7.07 Waiver Of Jury Trial
	  	 	25	  
	 Section 7.08 Specific Enforcement
	  	 	25	  
	 Section 7.09 Counterparts; Effectiveness; Third Party Beneficiaries
	  	 	25	  
	 Section 7.10 Entire Agreement
	  	 	25	  
	 Section 7.11 Severability
	  	 	26	  
		  			

			
	 Exhibit A
	  	Form of Joinder Agreement
		
	 Exhibit B
	  	Shareholder Addresses

  
 ii 

 SHAREHOLDERS’ AGREEMENT 

THIS SHAREHOLDERS’ AGREEMENT (this “Agreement”), effective as of November 29, 2013, is by and among
Tops MBO Corporation, a Delaware corporation (“MBOCo”), Tops Holding II Corporation, a Delaware corporation (“Holding”), each of their respective shareholders identified herein, and any Additional Holders (as
defined below). 
 WHEREAS, MBOCo and the Principal Shareholders (as defined herein) own all of the issued and
outstanding capital stock of Holding and are entering into this Agreement to govern certain of their rights, duties and obligations and to regulate certain aspects of their relationship with each other with respect to the capital stock and
governance of Holding; and 
 WHEREAS, the Principal Shareholders and the other shareholders of MBOCo identified on the
signature page to this Agreement own all of the issued and outstanding capital stock of MBOCo and are entering into this Agreement to govern certain of their rights, duties and obligations and to regulate certain aspects of their relationship with
each other with respect to the capital stock and governance of MBOCo. 
 NOW, THEREFORE, in consideration of the
covenants and agreements contained herein, the parties hereto agree as follows: 
 ARTICLE 1 

DEFINITIONS 
 Section 1.01 Definitions. 
 (a) The following terms, as used
herein, have the following meanings: 
 “Additional Holders” means all Persons that become Shareholders
following the date of this Agreement and are designated as Additional Holders pursuant to Section 3.06 below. 

“Affiliate” means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or
under common control with such Person, provided that no security holder of the applicable Company shall be deemed an Affiliate of any other security holder solely by reason of any investment in such Company. For the purpose of this definition, the
term “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as used with respect to any Person, shall mean 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 contract or otherwise. 

“Aggregate Ownership” means, with respect to any Shareholder or group of Shareholders of MBOCo, and with respect to any
class of Securities of MBOCo, the total number of shares of such class owned by such Shareholder or group of Shareholders as of the date of such calculation, calculated on a Fully-Diluted basis. 

  

 “Applicable Interest Rate” means, with respect to a closing of the
purchase of Shareholder Stock under this Agreement, the prime rate as published by The Wall Street Journal in its “Money Rates” table (or, if such rate ceases to be published in such table, an equivalent rate published by The
Wall Street Journal, or any other financial publication of general circulation in the United States if The Wall Street Journal no longer publishes such rate on such date) on such closing date. 

“BOA Loan” means the loan by Bank of America, N.A. (“BOA”) to MBOCo pursuant to a certain Loan Agreement,
dated November 29, 2013, and all extensions, amendments, and renewals of such agreement, and all principal, interest and other amounts payable by MBOCo pursuant thereto. 
 “By-laws” means the By-laws of a Company, as in effect from time to time. 
 “Board” means the Board of Directors of a Company, as constituted from time to time. 
 “Business Day” means any day except a Saturday, Sunday or other day on which commercial banks in Buffalo, New York are authorized by law to close. 

“Cause,” with respect to any Shareholder, has the meaning set forth in any effective employment agreement between a
Company or any of its Subsidiaries and such Shareholder, or if no such agreement exists, then “Cause” means: (i) the willful failure by such Shareholder to perform such duties as are reasonably requested by the Chief Executive Officer
of the Company or any of its Subsidiaries which such Shareholder is employed by, and such failure continues for a period of ten (10) days after the employing company gives written notice to such Shareholder specifying such failure,
(ii) the failure by such Shareholder to observe material policies of a Company or any of its Subsidiaries generally applicable to employees of such Company or such Subsidiary, (iii) gross negligence or willful misconduct by such
Shareholder in the performance of such Shareholder’s duties as an employee of a Company or any of its Subsidiaries, (iv) the commission by such Shareholder of any act of fraud, theft or financial dishonesty with respect to a Company or any
of its Subsidiaries, (v) such Shareholder’s indictment, conviction of, or pleading no contest or nolo contendere to, any felony or a lesser crime involving dishonesty or moral turpitude, (vi) such Shareholder’s breach of any
material provision of this Agreement, (vii) such Shareholder’s failure to obtain or retain any permits, licenses or approvals which may be required by any state or local authorities in order to permit such Shareholder to continue
employment in the ordinary course with a Company or any of its Subsidiaries, (viii) any act or omission by such Shareholder that is materially injurious (financially or otherwise) to a Company or any of its Subsidiaries or their reputation,
(ix) such Shareholder’s chronic absenteeism or (x) alcohol or other substance abuse by such Shareholder. The Board of MBOCo shall determine whether Cause exists. 

“Charter” means the Certificate of Incorporation of a Company, as the same may be amended from time to time.

 “Common Shares” means shares of Common Stock. 

  
 2 

 “Common Stock” means, with respect to each Company, the shares of common
stock of such Company, and any stock into which such shares may hereafter be converted, changed or exchanged. 

“Company” means (i) MBOCo, or (ii) Holding, as the context shall require. 

“Delay Condition” means, with respect to each Company, any of the following: (i) the Company is prohibited from
purchasing any Shareholder Stock by any Financing Document or by applicable law; (ii) a default that has occurred under any Financing Document and is continuing; (iii) the purchase of any Shareholder Stock that would, or in the good faith
opinion of the applicable Board that could, result in the occurrence of an event of default under any Financing Document or create a condition which would or could, with notice or lapse of time or both, result in such an event of default; or
(iv) the purchase of any Shareholder Stock that would, in the good faith opinion of the applicable Board, be imprudent in view of the financial condition of the Company and its Subsidiaries taken as a whole or the anticipated impact of the
purchase of such Shareholder Stock on MBOCo’s or any of its Subsidiaries’ ability to meet their obligations under any Financing Document or otherwise. 
 “Disability,” with respect to any Shareholder, has the meaning set forth in any effective employment agreement between a Company or any of its Subsidiaries and such Shareholder, or if no
such agreement exists, then “Disability” means such Shareholder’s incapacity due to physical or mental illness that: (i) shall have prevented such Shareholder from performing his or her duties for a Company or any of its
Subsidiaries on a full-time basis for more than 180 days, or (ii) (x) the applicable Board determines is likely to prevent such Shareholder from performing such duties for such a 180-day period and (y) 30 days have elapsed since
delivery to such Shareholder of such Board’s determination and such Shareholder has not resumed such performance (in which case the date of termination in the case of a termination for “Disability” pursuant to this clause
(ii) shall be deemed to the last day of such 30-day period). 
 “Drag-Along Portion” means, with respect
to any Shareholder (other than the Drag-Along Seller) where the Drag-Along Seller is proposing to Transfer Common Shares in a Drag-Along Sale: (i) a number of Common Shares equal to the aggregate number of Common Shares owned by such
Shareholder immediately prior to such Transfer multiplied by (ii) a fraction the numerator of which is the maximum number of Common Shares proposed to be Transferred by the Drag-Along Seller in such Drag-Along Sale and the denominator of which
is the aggregate number of Common Shares owned by the Drag-Along Seller at such time. 
 “Fair Market Value”
means, with respect to each Company, as of any date of determination, the fair market value of such Company’s Common Stock as determined by such Company’s Board in the good faith exercise of its sole discretion taking into account such
factors as such Board deems appropriate. 
 “Financing Document” means, with respect to each Company, any
indenture, credit agreement, guarantee, financing or security agreement or other agreements or instruments governing indebtedness of such Company or any of its Subsidiaries. 

  
 3 

 “Fully-Diluted” means, with respect to each Company, all of its
outstanding Common Shares and all Common Shares issuable in respect of securities convertible into or exchangeable for such Common Shares, all stock appreciation rights, options, warrants and other rights to acquire, purchase or subscribe for such
Common Shares or securities convertible into or exchangeable for such Common Shares; provided that, if any of the foregoing convertible securities are subject to vesting, the Common Shares underlying such convertible securities shall be
included in the definition of “Fully-Diluted” only upon and to the extent of such vesting. 

“Insolvency” of a Shareholder will mean, and will be deemed to have occurred, upon the occurrence of any of the
following events: 
 (i) such Shareholder’s adjudication as bankrupt; 

(ii) the institution by or against such Shareholder of a petition for arrangement or any other type of insolvency proceeding under any
bankruptcy law or otherwise; 
 (iii) such Shareholder’s making of a general assignment for the benefit of such
Shareholder’s creditors; 
 (iv) the appointment of a receiver or trustee in bankruptcy of such Shareholder for any of
such Shareholder’s assets; or 
 (v) the taking, making or institution of any like or similar act or proceeding involving
such Shareholder; 
 and where such adjudication, institution, making, appointment or like or similar act or proceeding is not cured or
rescinded within thirty (30) days. 
 “Majority in Interest” means, with respect to each Company, the
holders of at least a majority of the voting Securities of such Company outstanding and entitled to vote in the election of directors. 
 “Order” means a final order, judgment or decree of a domestic or foreign court of competent jurisdiction, not subject to appeal and not subject to collateral attack for lack of
jurisdiction initiated within the applicable appeal period, which is entered in connection with or arises out of any action for the annulment of, the dissolution of, the declaration of the nullity of, or a separation or divorce with respect to, the
marriage of a Shareholder directing the transfer of all or part of such Shareholder’s Common Shares to his or her spouse. 

“Permitted Transferee” means a trust that is for the exclusive benefit of a Shareholder or his or her spouse, lineal
descendant, sibling or parent, provided that such trust executes a Joinder Agreement. 
 “Person” means an
individual, corporation, limited liability company, partnership, association, trust or other entity or organization, including a government or political subdivision or an agency or instrumentality thereof. 

  
 4 

 “Principal Shareholders” means John Barrett, Lynne Burgess, Francis Curci,
Kevin Darrington, William Mills and John Persons. 
 “Public Offering” means, with respect to each Company, an
underwritten public offering of Securities pursuant to an effective registration statement under the Securities Act, other than pursuant to a registration statement on Form S-4 or Form S-8 or any similar or successor form. 

“Securities” means, with respect to each Company, (i) any Common Shares, (ii) securities convertible into or
exchangeable for Common Stock, (iii) any other equity or equity-linked security issued by the Company and (iv) options, warrants or other rights to acquire Common Stock or any other equity or equity-linked security issued by the Company.

 “Securities Act” means the Securities Act of 1933, as amended. 

“Shareholder” means, with respect to each Company, each Person listed as a shareholder of such Company on the signature
pages of this Agreement and, after the date of this Agreement, means any Permitted Transferees of such shareholder, other than any transferees who qualify as Additional Holders immediately prior to or upon such Transfer. 

“Shareholder Stock” means, with respect to each Company, the Securities of such Company owned by the Shareholders of
such Company or their Permitted Transferees. 
 “Subsidiary” means, with respect to any Person, any entity of
which securities or other ownership interests having ordinary voting power to elect a majority of the board of directors or other persons performing similar functions are at the time directly or indirectly owned by such Person. 

“Tag-Along Portion” means, for any Tagging Person in a Tag-Along Sale, that number of securities equal to the Aggregate
Ownership of Common Shares by such Tagging Person immediately prior to such Transfer multiplied by a fraction the numerator of which is the maximum number of Common Shares, on a Fully-Diluted basis, proposed to be Transferred by all selling
Shareholders in such Tag-Along Sale and the denominator of which is the Aggregate Ownership of Common Shares by all such Shareholders at such time. 
 “Third Party” means, with respect to each Company, a prospective purchaser of Securities of such Company in an arm’s-length transaction from a Shareholder of such Company, other than
a Permitted Transferee. 
 “Transfer” means, with respect to any Securities, (i) when used as a verb, to
sell, assign, dispose of, exchange, pledge, encumber, hypothecate or otherwise transfer such Securities or any participation or interest therein, whether directly or indirectly, or agree or commit to do any of the foregoing and (ii) when used
as a noun, a direct or indirect sale, assignment, disposition, exchange, pledge, encumbrance, hypothecation, or other transfer of such Securities or any participation or interest therein or any agreement or commitment to do any of the foregoing.

  
 5 

 (b) Each of the following terms is defined in the Section set forth opposite such term:

  

			
	 Term
	  	Section
	 Agreement
	  	Preamble
	 Call Purchase Price
	  	4.05(c)
	 Call Right Closing Date
	  	4.05(d)(iii)
	 Cause
	  	2.02
	 Cause Purchase Price
	  	4.05(a)(ii)
	 Confidential Information
	  	6.01(b)
	 Delay Condition Notice
	  	4.05(c)(ii)
	 Drag-Along Rights
	  	4.02(a)
	 Drag-Along Sale
	  	4.02(a)
	 Drag-Along Sale Notice
	  	4.02(a)
	 Drag-Along Sale Notice Period
	  	4.02(a)
	 Drag-Along Sale Price
	  	4.02(a)
	 Drag-Along Seller
	  	4.02(a)
	 Drag-Along Transferee
	  	4.02(a)
	 Joinder Agreement
	  	3.04
	 Majority Approved Transaction
	  	4.07
	 Non-Cause Purchase Price
	  	4.05(a)(i)
	 Non-Selling Shareholders
	  	4.04(a)
	 Offer
	  	4.04(b)
	 Offer Notice
	  	4.04(a)
	 Offer Period
	  	4.04(b)
	 Offer Price
	  	4.04(a)
	 Offered Securities
	  	4.04(a)
	 Offered Shareholder Stock
	  	4.06(b)(i)
	 Offering Shareholder
	  	4.06(a)
	 Prospective Transferee
	  	4.04(a)
	 Purchase Notice
	  	4.05(d)(i)
	 Put Purchase Price
	  	4.06(a)
	 Put Right Closing Date
	  	4.06(b)(iii)
	 Representatives
	  	6.01(b)
	 Requesting Shareholder
	  	5.01(a)
	 Sale
	  	4.04(a)
	 Seller
	  	4.04(a)
	 Selling Shareholder
	  	4.05(a)(i)
	 Shareholder Put Notice
	  	4.06(b)(i)
	 Spousal Consent
	  	7.12
	 Subordinated Note
	  	4.05(e)(i)
	 Tag-Along Notice
	  	4.01(a)
	 Tag-Along Notice Period
	  	4.01(a)
	 Tag-Along Offer
	  	4.01(a)
	 Tag-Along Response Notice
	  	4.01(a)
	 Tag-Along Right
	  	4.01(a)

  
 6 

			
	 Term
	  	Section
	 Tag-Along Sale
	  	4.01(a)
	 Tag-Along Seller
	  	4.01(a)
	 Tagging Person
	  	4.01(a)
	 Transfer Offer
	  	4.04(a)

 Section 1.02 Other Definitional and Interpretative Provisions. The words
“hereof”, “herein” and “hereunder” and words of like import used in this Agreement shall refer to this Agreement as a whole and not to any particular provision of this Agreement. The captions herein are included for
convenience of reference only and shall be ignored in the construction or interpretation hereof. References to Articles, Sections, Exhibits and Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise specified.
All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in any Exhibit or Schedule but not otherwise defined therein,
shall have the meaning as defined in this Agreement. Whenever the words “include”, “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation”,
whether or not they are in fact followed by those words or words of like import. “Writing”, “written” and comparable terms refer to printing, typing and other means of reproducing words (including electronic media) in a visible
form. References to any agreement or contract are to that agreement or contract as amended, modified or supplemented from time to time in accordance with the terms hereof and thereof. References to any Person include the successors and permitted
assigns of that Person. References from or through any date mean, unless otherwise specified, from and including or through and including, respectively. 
 ARTICLE 2 
 CORPORATE GOVERNANCE 

Section 2.01 Composition of the Board of MBOCo.  

(a) MBOCo’s Board shall initially consist of six directors, comprising the Chief Executive Officer of MBOCo, initially Francis
Curci, and five other directors designated by a Majority in Interest of MBOCo. The five directors of such Board designated by a Majority in Interest as of the date of this Agreement are John Barrett, Lynne Burgess, Kevin Darrington, William Mills
and John Persons. Subject to Section 2.02, a Majority in Interest of MBOCo shall be permitted at any time to increase or decrease the number of directors who serve on the Board of MBOCo and to designate any additional directors. 

(b) Each Shareholder agrees that if at any time such Shareholder is then entitled to vote for the election of directors to the Board of
MBOCo, such Shareholder shall vote such Shareholder’s Stock or execute proxies or written consents, as the case may be, and take all other necessary action (including causing MBOCo to call a special meeting of shareholders) in order to ensure
that the composition of the Board of MBOCo is as set forth in this Section 2.01. 
 (c) MBOCo agrees to cause each
individual designated pursuant to Section 2.01(a) or Section 2.03 to be nominated to serve as a director on the Board of MBOCo, and to take all other necessary actions (including calling a special meeting of such Board and/or the
Shareholders of MBOCo) to ensure that the composition of such Board is as determined pursuant to this Article 2. 

  
 7 

 Section 2.02 Removal. Each Shareholder agrees that if at any time such
Shareholder is then entitled to vote for the removal of directors from the Board of MBOCo, such Shareholder shall not vote any of such Shareholder’s Stock in favor of the removal of any of the initial six directors who have been designated
pursuant to Section 2.01, unless such removal is for Cause. For purposes of this Section 2.02, the term “Cause” shall have the meaning given to such term in this Agreement with the addition of an additional occurrence
constituting Cause consisting of a director no longer being a member of the management of MBOCo or any of its Subsidiaries. It is specifically acknowledged and agreed that if a director holds the position of Executive Chairman of the Board of MBOCo
or any of its Subsidiaries, such director will be considered to be a member of management of such company. 

Section 2.03 Vacancies. If, as a result of death, disability, retirement, resignation, removal (with or without Cause)
or otherwise, there shall exist or occur any vacancy on the Board of MBOCo, then the vote of at least a Majority in Interest of MBOCo will be required to elect another person to fill such vacancy and serve as a director on such Board. 

Section 2.04 Meetings. The Board of MBOCo shall hold a regularly scheduled meeting at least once every calendar
quarter. MBOCo agrees to pay all reasonable out-of-pocket expenses incurred by each director in connection with attending regular and special meetings of the Board of MBOCo, and any committee thereof, and any regular and special meetings of the
board of directors of any Subsidiary of MBOCo, and any committee thereof. 
 Section 2.05 Action by the Board of
MBOCo. 
 (a) A quorum of the Board of MBOCo shall consist of a majority of its directors; provided that a Majority in Interest
of MBOCo shall have the right at any time to change the number of directors necessary to constitute such quorum (but not to any number that is less than a majority of the directors then on such Board). 

(b) All actions of the Board of MBOCo shall require (i) the affirmative vote of at least a majority of its directors present at a
duly-convened meeting of such Board at which a quorum is present or (ii) the unanimous written consent of such Board, provided that, if there is a vacancy on such Board and an individual has been nominated to fill such vacancy, the first order
of business shall be to fill such vacancy. 
 (c) The Board of MBOCo may create executive, compensation, audit and other
committees as it may determine. 
 Section 2.06 Charter or By-laws Provisions. Each Shareholder of MBOCo
agrees to vote such Shareholder’s Stock or execute proxies or written consents, as the case may be, and to take all other actions necessary, to ensure that the Charter and By-laws of MBOCo, to the extent permitted by applicable law,
(a) facilitate, and do not at any time conflict with, any provision of this Agreement and (b) permit each Shareholder to receive the benefits to which each such Shareholder is entitled under this Agreement. MBOCo’s Charter and By-laws
shall provide for (a) the elimination of the liability of each director on the Board to the maximum extent permitted by applicable law and (b) indemnification of each director on the Board for acts on behalf of MBOCo to the maximum extent
permitted by applicable law. 

  
 8 

 Section 2.07 Subsidiary Governance. MBOCo and its Shareholders agree that
the board of directors or similar governing body of each Subsidiary of MBOCo shall consist of the Principal Shareholders who are from time to time serving as directors of MBOCo in accordance with Section 2.01. Each Shareholder agrees to vote
such Shareholder’s Stock and to take other appropriate action to effect the agreement in this Section 2.07 in respect of any Subsidiary of MBOCo. 
 ARTICLE 3 
 RESTRICTIONS ON TRANSFER 

Section 3.01 General Restrictions on Transfer. Each Shareholder understands and agrees that the Securities of MBOCo
and Holding have not been registered under the Securities Act and are restricted securities under the Securities Act and the rules and regulations promulgated thereunder. Each Shareholder agrees that such Shareholder shall not Transfer any
Securities of MBOCo or Holding (or solicit any offers in respect of any Transfer of any such Securities), except in compliance with the Securities Act, any other applicable securities or “blue sky” laws, and the terms and conditions of
this Agreement. Any Transfer or purported Transfer of any Securities of MBOCo or Holding not in compliance with this Agreement shall be null and void, and the applicable Company shall not, and shall cause any transfer agent not to, give any effect
in such Company’s stock records to such Transfer. 
 Section 3.02 Pledge in Connection with BOA Loan;
Permitted Transfers by BOA. Any pledge, hypothecation or encumbrance of Securities of MBOCo or Holding by a Principal Shareholder in connection with the BOA Loan shall be permitted and shall not constitute a Transfer under this Agreement. In
addition, any foreclosure and exercise of rights and remedies with respect to Securities of MBOCo or Holding by BOA in connection with an event of default under the documents governing the BOA Loan shall be deemed to be a permitted Transfer and may
be made without the consent of MBOCo, its Board or any Shareholders of MBOCo, and BOA and any subsequent transferee of such securities shall be deemed to be a Permitted Transferee so long as (a) such Permitted Transferee agrees in writing to be
bound by the terms of this Agreement pursuant to a Joinder Agreement (defined below), and (b) the Transfer to such Permitted Transferee is in compliance with the Securities Act and any other applicable securities or “blue sky” laws.

 Section 3.03 Legends. In addition to any other legend that may be required or advisable, each certificate
for Securities of MBOCo or Holding issued to any Shareholder shall bear a legend in substantially the following form: 
 THE
SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS AND MAY NOT BE OFFERED, SOLD, PLEDGED OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE THEREWITH. THESE
SECURITIES ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER AS 

  
 9 

 
SET FORTH IN THE SHAREHOLDERS’ AGREEMENT DATED AS OF NOVEMBER 29, 2013, AS AMENDED FROM TIME TO TIME, COPIES OF WHICH MAY BE OBTAINED UPON REQUEST FROM THE CORPORATION OR ANY SUCCESSOR
THERETO. 
 Section 3.04 Permitted Transfer. Notwithstanding anything in this Agreement to the contrary, any
Shareholder of MBOCo may at any time Transfer any or all of such Shareholder’s Securities of MBOCo to one or more of such Shareholder’s Permitted Transferees without the consent of MBOCo, its Board or any other Shareholders of MBOCo so
long as (a) such Permitted Transferee agrees in writing to be bound by the terms of this Agreement in the form of Exhibit A attached hereto (a “Joinder Agreement”), and (b) the Transfer to such Permitted Transferee
is in compliance with the Securities Act and any other applicable securities or “blue sky” laws. 

Section 3.05 Restrictions on Transfers. 
 (a) No Shareholder of MBOCo shall Transfer any of such Shareholder’s Securities of MBOCo, except (i) to one or more of such Shareholder’s Permitted Transferees in accordance with
Section 3.04, or (ii) pursuant to the operation of and in accordance with Article 4. In addition, and without limiting the foregoing, until such time as the BOA Loan has been repaid in full, no Principal Shareholders shall Transfer any
Securities of MBOCo, except as may be permitted by the terms of, or consented to by the lender under, the BOA Loan. 
 (b) No
Shareholder of Holding shall Transfer any of such Shareholder’s Securities of Holding at any time for any reason except pursuant to the operation of and in accordance with Article 4. 

Section 3.06 Additional Shareholders. Any Person that is not already a party to this Agreement in the same Shareholder
capacity as such Person would be following a Transfer and who is acquiring any Securities of MBOCo shall on or before the Transfer or issuance to such Person of such Securities, sign and deliver to MBOCo a Joinder Agreement and shall thereby become
a party to this Agreement. If such Person meets the definition of Shareholder, then such Person shall be treated as a Shareholder; and, if such Person does not meet the foregoing definition, such Person shall be treated as an Additional Holder under
this Agreement. 
 ARTICLE 4 
 TAG-ALONG RIGHTS; DRAG-ALONG RIGHTS; 
 RIGHT OF FIRST OFFER; APPROVED
TRANSACTION 
 Section 4.01 Tag-Along Rights. 

(a) Subject to Sections 4.01(f) and 4.03, if a Majority in Interest of MBOCo (such Shareholders being, collectively the
“Tag-Along Seller”) proposes to Transfer Common Shares of MBOCo in a single transaction or in a series of related transactions (a “Tag-Along Sale”), 

(i) the Tag-Along Seller shall provide each Shareholder of MBOCo notice of the terms and conditions of such proposed Transfer
(“Tag-Along Notice”) and offer each Tagging Person the opportunity to participate in such Transfer in accordance with this Section 4.01, and 

  
 10 

 (ii) each Shareholder of MBOCo may elect, at such Shareholder’s option, to participate
in the proposed Transfer in accordance with this Section 4.01 (each such electing Shareholder, a “Tagging Person”). 
 The Tag-Along Notice shall identify the number of Common Shares proposed to be sold by the Tag-Along Seller (“Tag-Along Offer”), the consideration for which the Transfer is proposed to be
made, and all other material terms and conditions of the Tag-Along Offer, including the form of the proposed agreement, if any, and a firm offer by the proposed transferee to purchase Common Shares from the Shareholders in accordance with this
Section 4.01. 
 From the date of a Tagging Person’s receipt of the Tag-Along Notice, each Tagging Person shall have the
right (a “Tag-Along Right”), exercisable by notice (“Tag-Along Response Notice”) given to the Tag-Along Seller within 15 days after such Tagging Person’s receipt of the Tag-Along Notice (the “Tag-Along
Notice Period”), to request that the Tag-Along Seller include in the proposed Transfer up to a number of Common Shares representing such Tagging Person’s Tag-Along Portion, provided that each Tagging Person shall be entitled to
include in the Tag-Along Sale no more than such Tagging Person’s Tag-Along Portion of the Common Shares and the Tag-Along Seller shall be entitled to include the number of Common Shares proposed to be Transferred by the Tag-Along Seller as set
forth in the Tag-Along Notice (reduced, to the extent necessary, so that each Tagging Person shall be able to include its Tag-Along Portion) and such additional Common Shares as permitted by Section 4.01(d). Each Tag-Along Response Notice shall
include wire transfer or other instructions for payment of any consideration therefor. Each Tagging Person shall also deliver to the Tag-Along Seller, with such Tagging Person’s Tag-Along Response Notice, the certificates representing the
Common Shares of such Tagging Person to be included in the Tag-Along Sale, together with a limited power-of-attorney authorizing the Tag-Along Seller to Transfer such Common Shares on the terms set forth in the Tag-Along Notice. Delivery of the
Tag-Along Response Notice with such certificates and limited power-of-attorney shall constitute an irrevocable acceptance of the Tag-Along Offer by such Tagging Persons, subject to the provisions of this Section 4.01 and Section 4.03.

 If, at the end of a 120-day period after such delivery of such Tag-Along Notice (which 120-day period shall be extended if
any of the transactions contemplated by the Tag-Along Offer are subject to regulatory approval until the expiration of five Business Days after all such approvals have been received, but in no event later than 180 days following receipt of the
Tag-Along Notice by the Tag-Along Seller), the Tag-Along Seller has not completed the Transfer of all Common Shares proposed to be sold by the Tag-Along Seller and all Tagging Persons on substantially the same terms and conditions set forth in the
Tag-Along Notice, the Tag-Along Seller shall (i) return to each Tagging Person the limited power-of-attorney and all certificates representing the Common Shares that such Tagging Person delivered for Transfer pursuant to this
Section 4.01(a) and any other documents in the possession of the Tag-Along Seller executed by the Tagging Persons in connection with the proposed Tag-Along Sale, and (ii) all the restrictions on Transfer contained in this Agreement or
otherwise applicable at such time with respect to such Common Shares shall continue in effect. 

  
 11 

 (b) Concurrently with the consummation of the Tag-Along Sale, the Tag-Along Seller shall
(i) notify the Tagging Persons thereof, (ii) remit to the Tagging Persons the total consideration for the Common Shares of the Tagging Persons Transferred pursuant thereto, with the cash portion of the purchase price paid by wire transfer
of immediately available funds in accordance with the wire transfer instructions in the applicable Tag-Along Response Notices and promptly after the consummation of such Tag-Along Sale, furnish such other evidence of the completion and the date of
completion of such transfer and the terms thereof as may be reasonably requested by the Tagging Persons. 
 (c) If at the
termination of the Tag-Along Notice Period any Shareholder shall not have elected to participate in the Tag-Along Sale, such Shareholder shall be deemed to have waived such Shareholder’s rights under Section 4.01(a) with respect to the
Transfer of such Shareholder’s Common Shares pursuant to such Tag-Along Sale. 
 (d) If (i) any Shareholder declines
to exercise such Shareholder’s Tag-Along Rights or (ii) any Tagging Person elects to exercise such Tagging Person’s Tag-Along Rights with respect to less than such Tagging Person’s Tag-Along Portion, the Tag-Along Seller shall be
entitled to Transfer, pursuant to the Tag-Along Offer, a number of Common Shares held by the Tag-Along Seller equal to the number of Common Shares constituting the Tag-Along Portion of such Shareholder or the portion of such Tagging Person’s
Tag-Along Portion with respect to which Tag-Along Rights were not exercised, as the case may be. 
 (e) The Tag-Along Seller
shall Transfer, on behalf of the Tag-Along Seller and each Tagging Person, the Common Shares subject to the Tag-Along Offer and elected to be Transferred on the terms and conditions set forth in the Tag-Along Notice within 120 days (or such longer
period as extended under Section 4.01(a)) of delivery of the Tag-Along Notice. 
 (f) Notwithstanding anything contained in
this Section 4.01, there shall be no liability on the part of the Tag-Along Seller to the Tagging Persons (other than the obligation to return any certificates evidencing Common Shares and limited powers-of-attorney received by the Tag-Along
Seller) or any other Person if the Transfer of Common Shares pursuant to Section 4.01 is not consummated for whatever reason. Whether to effect a Transfer of Common Shares pursuant to this Section 4.01 by the Tag-Along Seller is in the
sole and absolute discretion of the Tag-Along Seller. 
 (g) The provisions of this Section 4.01 shall not apply to any
proposed Transfer of Common Shares by the Tag-Along Seller (A) to a Permitted Transferee or (B) pursuant to Section 4.02. 
 (h) Notwithstanding anything set forth herein to the contrary, any Tagging Person wishing to participate in a proposed Tag-Along Sale with respect to Common Shares issuable upon exercise of Securities
shall be required to exercise such number of Securities as is required in order for such Tagging Person to participate in the Tag-Along Sale with respect to such Common Shares; provided, that such exercise shall be deemed to be effective immediately
prior to the consummation of such Tag-Along Sale. 

  
 12 

 Section 4.02 Drag-Along Rights. 

(a) Subject to Section 4.03, if a Majority in Interest of the Shareholders of a Company (the “Drag-Along Seller”),
proposes to Transfer Common Shares of such Company representing not less than a majority of the outstanding Fully-Diluted Common Shares of such Company to a Third Party (the “Drag-Along Transferee”) in a bona fide sale (a
“Drag-Along Sale”), the Drag-Along Seller, if the Drag-Along Sale is of Common Shares of MBOCo, may at their option require all other Shareholders of MBOCo and Holding, and if the Drag-Along Sale is of Common Shares of Holding,
shall require all other Shareholders of Holding (i) to Transfer the Drag-Along Portion of the Securities (“Drag-Along Rights”) then held by every other Shareholder of such Company or Companies, as applicable, and (ii) to
exercise such number of options for Securities held by every other Shareholder of such Company, or Companies, as applicable, as is required in order that a sufficient number of the Securities are available to Transfer the relevant Drag-Along Portion
of Securities of each such other Shareholder (but subject to and at the closing of the Drag-Along Sale), in each case for the same consideration and otherwise on the same terms and conditions as the Drag-Along Seller, provided that any other
Shareholder of such Company that holds options the exercise price per share of which is greater than the per share price at which the Securities are to be Transferred to the Drag-Along Transferee, if required by the Drag-Along Seller to exercise
such options, may, in lieu of such exercise, submit an irrevocable cancellation thereof without any liability for payment of any exercise price with respect thereto. If the Drag-Along Sale is not consummated, any options exercised or cancelled in
contemplation of such Drag-Along Sale shall be deemed not to have been exercised or canceled, as applicable. 
 The Drag-Along
Seller shall provide notice of such Drag-Along Sale to the other Shareholders of such Company (a “Drag-Along Sale Notice”) not later than 15 Business Days prior to the proposed Drag-Along Sale. The Drag-Along Sale Notice shall
identify the Drag-Along Transferee, the number of Securities subject to the Drag-Along Sale, the consideration for which a Transfer is proposed to be made (the “Drag-Along Sale Price”) and all other material terms and conditions of
the Drag-Along Sale. The number of Securities to be sold by each other Shareholder of such Company shall be the Drag-Along Portion of the Securities that such other Shareholder owns. Each other Shareholder of the Company shall be required to
participate in the Drag-Along Sale on the terms and conditions set forth in the Drag-Along Sale Notice and to tender all of such other Shareholder’s Securities as set forth below. The price payable in such Transfer shall be the Drag-Along Sale
Price. Not later than 10 Business Days after the date of the Drag-Along Sale Notice (the “Drag-Along Sale Notice Period”), each of such other Shareholders shall deliver to a representative of the Drag-Along Seller designated in the
Drag-Along Sale Notice the certificates representing the Securities of such other Shareholder to be included in the Drag-Along Sale, together with a limited power-of-attorney authorizing the Drag-Along Seller or its representative to Transfer such
Securities on the terms set forth in the Drag-Along Notice and wire transfer or other instructions for payment or delivery of the consideration to be received in such Drag-Along Sale, or, if such delivery is not permitted by applicable law, an
unconditional agreement to deliver such Securities pursuant to this Section 4.02(a) at the closing for such Drag-Along Sale against delivery to such other 

  
 13 

 
Shareholder of the consideration therefor. If any other such Shareholder fails to deliver such certificates to the Drag-Along Seller, such Company (subject to reversal under Section 4.02(b))
shall cause the books and records of such Company to show that such Securities are bound by the provisions of this Section 4.02(a) and that such Securities shall be Transferred to the Drag-Along Transferee immediately upon surrender for
Transfer by the holder thereof. 
 (b) The Drag-Along Seller shall have a period of 120 days from the date of delivery of the
Drag-Along Sale Notice to consummate the Drag-Along Sale on the terms and conditions set forth in such Drag-Along Sale Notice, provided that, if such Drag-Along Sale is subject to regulatory approval, such 120-day period shall be extended
until the expiration of five Business Days after all such approvals have been received, but in no event later than 180 days following the date of delivery of the Drag-Along Sale Notice. If the Drag-Along Sale shall not have been consummated during
such period, the Drag-Along Seller shall return to each of the other Shareholders the limited power-of-attorney and all certificates representing Securities that such other Shareholders delivered for Transfer pursuant hereto, together with any other
documents in the possession of the Drag-Along Seller executed by the other Shareholders in connection with such proposed Transfer, and all the restrictions on Transfer contained in this Agreement or otherwise applicable at such time with respect to
such Securities owned by the other Shareholders shall again be in effect. 
 (c) Concurrently with the consummation of the
Transfer of Securities pursuant to this Section 4.02, the Drag-Along Seller shall give notice thereof to such other Shareholders, shall remit to each of such other Shareholders that have surrendered their certificates and other applicable
instruments the total consideration (the cash portion of which is to be paid by wire transfer in accordance with such other Shareholder’s wire transfer instructions) for the Securities Transferred pursuant hereto and shall furnish such other
evidence of the completion and time of completion of such Transfer and the terms thereof as may be reasonably requested by such other Shareholders. 
 (d) Notwithstanding anything contained in this Section 4.02, there shall be no liability on the part of the Drag-Along Seller to such other Shareholders (other than the obligation to return the
limited power-of-attorney and the certificates and other applicable instruments representing Securities received by the Drag-Along Seller) or any other Person if the Transfer of Securities pursuant to this Section 4.02 is not consummated for
whatever reason, regardless of whether the Drag-Along Seller has delivered a Drag-Along Sale Notice. Whether to effect a Transfer of Securities pursuant to this Section 4.02 by the Drag-Along Seller is in the sole and absolute discretion of the
Drag-Along Seller. 
 Section 4.03 Additional Conditions to Tag-Along Sales and Drag-Along Sales.
Notwithstanding anything contained in Section 4.01 or 4.02, the rights and obligations of the Shareholders to participate in a Tag-Along Sale under Section 4.01 or a Drag-Along Sale under Section 4.02 are subject to the following
conditions: 
 (a) upon the consummation of such Tag-Along Sale or Drag-Along Sale, and subject to applicable securities laws,
all of the Shareholders participating therein will receive the same form and amount of consideration per share of the relevant class of Securities determined in accordance with Section 4.01(a) or Section 4.02(a), as the case may be, or, if
any Shareholders are given an option as to the form and amount of consideration to be received, all Shareholders participating therein will be given the same option; 

  
 14 

 (b) no Shareholder shall be obligated to pay any expenses incurred in connection with any
unconsummated Tag-Along Sale or Drag-Along Sale, and each Shareholder shall be obligated to pay only such Shareholder’s pro rata share (based on the number of Securities Transferred) of expenses incurred in connection with a consummated
Tag-Along Sale or Drag-Along Sale to the extent such expenses are incurred for the benefit of all Shareholders of the applicable Company and are not otherwise paid by such Company or another Person; 

(c) each Shareholder shall (i) make such representations, warranties and covenants and enter into such definitive agreements as are
customary for transactions of the nature of the proposed Transfer; provided that, no Shareholder shall be required to provide any representations or indemnities in connection with such Transfer (other than representations and indemnities
concerning each Shareholder’s title to the applicable Securities and authority, power and right to enter into and consummate the Transfer without contravention of any law or agreement); and provided further that, liability for any
misrepresentation by the applicable Company or indemnity shall (as to such Shareholders) be expressly stated to be several but not joint and each such Shareholder shall not be liable for more than such Shareholder’s pro rata share (based
on the number of Securities Transferred, calculated on a Fully-Diluted Basis) of any liability for misrepresentation or indemnity, not to exceed more than such Shareholder’s pro rata share of the purchase price received in such Transfer,
(ii) benefit from all of the same provisions of the definitive agreements as the Tag-Along Seller or Drag-Along Seller, as the case may be, and (iii) be required to bear their proportionate share of any escrows, holdbacks and adjustments
in purchase price. 
 Section 4.04 Right Of First Refusal. 

(a) Subject to Section 3.01, Section 3.04, Section 3.05, Section 4.01 and Section 4.02, if any Shareholder (the
“Seller”) receives a bona fide offer from any Person (a “Prospective Transferee”) that the Seller desires to accept (a “Transfer Offer”) to Transfer all or any portion of any Securities of MBOCo or
Holding (the “Offered Securities”) such Seller owns (a “Sale”), the Seller shall, within ten (10) Business Days of receipt of the Transfer Offer, give written notice (a “Offer Notice”), if the
Offered Securities are Securities of MBOCo, to MBOCo and each Shareholder of MBOCo (the “Non-Selling Shareholders”), or, if the Offered Securities are Securities of Holding, to MBOCo only, stating that such Seller has received a
Transfer Offer for the Offered Securities and specifying: 
 (i) the aggregate number of shares of Offered Securities to be
Transferred by the Seller; 
 (ii) the proposed date, time and location of the closing of the Transfer, which shall not be less
than 90 (ninety) days from the date of the Offer Notice; 
 (iii) the purchase price per share for the Offered Securities
(which shall be payable solely in cash) and the other material terms and conditions of the Transfer Offer (the “Offer Price”); and 

  
 15 

 (iv) the name of the Prospective Transferee who has offered to purchase such Offered
Securities. 
 For the avoidance of doubt, in the event of a Transfer Offer involving more than one class or series of Offered Securities, the
Seller may deliver a single Offer Notice to the recipients noted above in this Section 4.04(a). 
 (b) The giving of an
Offer Notice pursuant to Section 4.04(a) shall constitute an offer (the “Offer”) by the Seller to Transfer the Offered Securities to the Non-Selling Shareholders (and thereafter to MBOCo as provided herein) with respect to
Offered Securities of MBOCo, and to MBOCo with respect to Offered Securities of Holding, for cash at the Offer Price and on the other terms set forth in the Offer Notice. If the Offer involves Securities of Holding, MBOCo shall then have a 30-day
period to accept the Offer by giving notice of acceptance to the Seller (the “Holding Shares Offer Period”). If the Offer involves Securities of MBOCo, the Non-Selling Shareholders receiving such Offer Notice shall have a 30-day
period (the “MBOCo Shares Offer Period”) in which to accept such Offer as to all or any portion of the Offered Securities of MBOCo by giving a notice of acceptance to the Seller (together with a copy thereof to MBOCo) prior to the
expiration of such Offer Period. If the Non-Selling Shareholders fail to notify the Seller and MBOCo prior to the expiration of the MBOCo Shares Offer Period, they shall be deemed to have declined such Offer. If the Non-Selling Shareholders decline
(or are deemed to decline) such Offer with respect to all or any portion of the Offered Securities of MBOCo, the Seller shall immediately notify MBOCo thereof. MBOCo shall then be entitled to accept the Offer with respect to the number of Offered
Securities of MBOCo that such Non-Selling Shareholders have elected not to purchase by giving notice of acceptance to the Seller within 60 Business Days of the expiration of the MBOCo Shares Offer Period. 

(c) If the Non-Selling Shareholders and/or the applicable Company elect to purchase all of the Offered Securities, the Non-Selling
Shareholders and/or the applicable Company, as the case may be, that have accepted the Offer shall purchase and pay, by wire transfer or by bank or certified check (in immediately available funds), for all Offered Securities within 20 Business Days
after the date on which all such Offered Securities have been accepted, provided that, if the Transfer of such Offered Securities is subject to any prior regulatory approval, subject to Section 4.04(f)(iii), the time period during which
such Transfer may be consummated shall be extended until the expiration of five Business Days after all such approvals shall have been received, but in no event shall such period be extended for more than an additional 60 days. 

(d) Upon the earlier to occur of (i) full rejection of the Offer by all recipients thereof, the expiration of the Holding Shares
Offer Period or the MBOCo Shares Offer Period, as applicable, without Non-Selling Shareholders and/or the applicable Company electing to purchase all of the Offered Securities and (iii) the failure to obtain any required consent or regulatory
approval for the purchase of all of the Offered Securities by the Non-Selling Shareholders and/or the applicable Company within 90 days of full acceptance of the Offer, the Seller shall have a 120-day period during which to effect a Transfer of any
or all of the Offered Securities on substantially the same or more favorable (as to the Seller) terms and conditions as were set forth in the Offer Notice at a price in cash not less than the Offer Price, provided that, if

  
 16 

 
the Transfer is subject to regulatory approval, such 120-day period shall be extended until the expiration of five Business Days after all such approvals shall have been received, but in no event
shall such period be extended for more than an additional 60 days. 
 (e) If the Seller does not consummate the Transfer of the
Offered Securities in accordance with the foregoing time limitations, then the right of the Seller to effect the Transfer of such Offered Securities pursuant to Section 4.04(d) shall terminate and the Seller shall again comply with the
procedures set forth in this Section 4.04 with respect to any proposed Transfer of Securities to a Third Party. 
 (f) By
delivering the Transfer Notice, the Seller represents and warrants to the applicable Company and each Non-Selling Shareholder that: 
 (i) the Seller has full right, title and interest in and to the Offered Securities described in the Transfer Notice; 
 (ii) the Seller has all the necessary power and authority and has taken all necessary action to Transfer the Offered Securities described in the Transfer Notice as contemplated by this Section 4.04;
and 
 (iii) the Offered Securities described in the Transfer Notice are free and clear of any and all liens other than those
arising as a result of or under the terms of this Agreement. 
 Section 4.05 Call Right. 

(a) In the event that a Shareholder’s employment with MBOCo or any of its Subsidiaries is terminated: 

(i) (1) by MBOCo or any of its Subsidiaries, other than for Cause, (2) as a result of the death or Disability of such Shareholder,
(3) with respect to any Shareholder other than the Principal Shareholders, such Shareholder’s voluntary resignation, including in connection with his or her retirement, or (4) with respect to the Principal Shareholders only, such
Principal Shareholder’s voluntary resignation, including in connection with his or her retirement, if such resignation occurs after the date on which MBOCo has repaid the BOA Loan in full, MBOCo may elect to purchase all or any portion of the
Shareholder Stock of MBOCo and Holding held by such Shareholder and such Shareholder’s Permitted Transferees, as applicable (the “Selling Shareholder”), at a price equal to the Fair Market Value of such Shareholder Stock as of
the date of termination (the “Non-Cause Purchase Price”); and 
 (ii) (1) by MBOCo or any of its Subsidiaries,
for Cause or (2) with respect to the Principal Shareholders only, as a result of such Principal Shareholder’s voluntary resignation, including in connection with his or her voluntary retirement, if such resignation occurs prior to the date
on which MBOCo has repaid the BOA Loan in full, MBOCo may elect to purchase all or any portion of the Shareholder Stock of MBOCo and Holding held by such Selling Shareholder at a price equal to eighty percent (80%) of the Fair Market Value of
such Shareholder Stock (the “Cause Purchase Price”). 

  
 17 

 (b) In the event of the entry of an Order against a Shareholder or the occurrence of the
Insolvency of a Shareholder, MBOCo may elect to purchase all or any portion of the Shareholder Stock of MBOCo and Holding held by such Shareholder (also referred to herein as the “Selling Shareholder”) at the Non-Cause Purchase
Price. Each Shareholder agrees to deliver a copy of any Order affecting such Shareholder, or a written notice of the Insolvency of such Shareholder, as applicable, to MBOCo within two Business Days after such Order is entered or such Insolvency
occurs. 
 (c) The purchase price paid by MBOCo under this Section 4.05 (i.e., either the Cause Purchase Price or the
Non-Cause Purchase Price) is referred to herein as the “Call Purchase Price”). 
 (d) Procedures: 

(i) If MBOCo wishes to exercise its right to purchase Shareholder Stock pursuant to this Section 4.05, MBOCo shall deliver to the
Selling Shareholder, within 60 days after (x) the termination of the applicable Shareholder’s employment, (y) MBOCo’s receipt of a copy of an Order, or (z) MBOCo receiving notice of, or otherwise learning of, the Insolvency
of such Shareholder (each a “Purchase Notice”) specifying the number of shares of Shareholder Stock to be purchased by MBOCo. 
 (ii) Each Selling Shareholder shall at the closing of any purchase consummated pursuant to this Section 4.05, represent and warrant to MBOCo that (x) the Selling Shareholder has full right,
title and interest in and to such Shareholder’s Shareholder Stock, (y) the Selling Shareholder has all the necessary power and authority and has taken all necessary action to sell such purchased Shareholder Stock as contemplated by this
Section 4.05, and (z) such Shareholder Stock is free and clear of any and all liens other than those arising as a result of or under the terms of this Agreement. 
 (iii) Subject to subsection (c) below, the closing of any sale of Shareholder Stock pursuant to this Section 4.05 shall take place no later than 60 days following receipt by the Selling
Shareholder of the Purchase Notice. MBOCo shall give such Selling Shareholder at least 10 Business Days’ written notice of the date of closing (the “Call Right Closing Date”). 

(e) Consummation of Sale: 
 (i) Subject to the existence of any Delay Condition, MBOCo shall pay the Call Purchase Price on the Call Right Closing Date by delivery to the Selling Shareholder of a three-year subordinated note (fully
subordinated in right of payment and exercise of remedies to the lenders’ rights under any Financing Document) calling for quarterly payments of principal and interest and bearing interest at the Applicable Interest Rate from the closing date
until paid in full (a “Subordinated Note”). 
 (ii) If a Delay Condition exists, MBOCo shall notify the
Selling Shareholder in writing as soon as practicable of such Delay Condition (the “Delay Condition Notice”) and MBOCo may defer the closing and pay the Call Purchase Price at the earliest practicable date on which no Delay
Condition exists, in which case, the Call Purchase Price shall 

  
 18 

 
accrue interest at the Applicable Interest Rate plus 2% from the latest date that the closing could have taken place pursuant to Section 4.05(d)(iii) to the date such Subordinated Note is
delivered by MBOCo and will accrue interest at the Applicable Interest Rate from such delivery date during the term of the Subordinated Note. 
 (f) The Selling Shareholder shall take all actions as may be reasonably necessary to consummate the sale contemplated by this Section 4.05, including entering into agreements and delivery
certificates and instruments and consents as may, in the discretion of MBOCo, be deemed necessary or appropriate. 
 (g) At the
closing of any sale and purchase pursuant to this Section 4.06, the Selling Shareholder shall deliver to MBOCo a certificate or certificates representing the Shareholder Stock to be sold, accompanied by stock powers and all necessary stock
transfer taxes paid and stamps affixed, if necessary, against receipt of the Call Purchase Price. 
 Section 4.06
Put Right. 
 (a) In the event that a Shareholder’s employment with MBOCo or any of its Subsidiaries is terminated
for a reason specified in Section 4.05(a)(i), and MBOCo has not delivered a notice pursuant to Section 4.05 within 60 days after such termination that MBOCo has elected to purchase such Shareholder’s Stock at the Non-Cause Purchase
Price, then, subject to the other provisions of this Section 4.06, such Shareholder and/or such Shareholder’s Permitted Transferees, as applicable (the “Offering Shareholder”), may elect to sell to MBOCo all (but not less
than all) of the Shareholder Stock of MBOCo and Holding held by such Shareholder at a price equal to the Fair Market Value of such Shareholder Stock as of the date of termination (the “Put Purchase Price”). 

(b) Procedures: 
 (i) If such Offering Shareholder desires to sell all Shareholder Stock of MBOCo and Holding held by the Offering Shareholder pursuant to this Section 4.06, such Offering Shareholder shall deliver to
MBOCo, not more than 75 days after the date of termination of the applicable Shareholder’s employment, a written notice (the “Shareholder Put Notice”) specifying the shares of such Shareholder Stock to be sold (the
“Offered Shareholder Stock”) by such Offering Shareholder. 
 (ii) By delivering the Shareholder Put Notice,
the Offering Shareholder represents and warrants to MBOCo and each other Shareholder of MBOCO that (x) the Offering Shareholder has full right, title and interest in and to the Offered Shareholder Stock, (y) the Offering Shareholder has
all the necessary power and authority and has taken all necessary action to sell such Offered Shareholder Stock as contemplated by this Section 4.06, and (z) the Offered Shareholder Stock is free and clear of any and all liens other than
those arising as a result of or under the terms of this Agreement. 
 (iii) Subject to subsection (c) below, the closing
of any sale of Offered Shareholder Stock pursuant to this Section 4.06 shall take place no later than 60 days following receipt by MBOCo of the Shareholder Put Notice. MBOCo shall give such Offering Shareholder at least 10 Business Days’
written notice of the date of closing (the “Put Right Closing Date”). 

  
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 (c) Consummation of Sale: 

(i) Subject to the existence of any Delay Condition, MBOCo shall pay the Put Purchase Price for the Offered Shareholder Stock by
delivery of a Subordinated Note on the Put Right Closing Date. 
 (ii) If a Delay Condition exists, MBOCo shall deliver a Delay
Condition Notice to the Offering Shareholder in writing as soon as practicable, and shall permit the Offering Shareholder, within 10 days of the date of the Delay Condition Notice, to rescind the Shareholder Put Notice. 

(iii) If the Offering Shareholder does not rescind the Shareholder Put Notice as provided in the preceding clause (ii), the Shareholder
Put Notice shall remain outstanding and MBOCo may defer the closing and pay the Put Purchase Price by delivery of a Subordinated Note at the earliest practicable date on which no Delay Condition exists, in which case the Put Purchase Price shall
accrue interest at the Applicable Interest Rate plus 2% from the latest date that the closing could have taken place pursuant to Section 4.06(b)(iii) to the date such Subordinated Note is delivered by MBOCo and will accrue interest at the
Applicable Interest Rate from such delivery date during the term of the Subordinated Note. 
 (d) The Offering Shareholder shall
take all actions as may be reasonably necessary to consummate the sale contemplated by this Section 4.06, including entering into agreements and delivering certificates and instruments and consents as may, in the discretion of MBOCo be deemed
necessary or appropriate. 
 (e) At the closing of any sale and purchase pursuant to this Section 4.06, the Offering
Shareholder shall deliver to MBOCo a certificate or certificates representing the Offered Shareholder Stock to be sold, accompanied by stock powers and all necessary stock transfer taxes paid and stamps affixed, if necessary, against receipt of the
Put Purchase Price. 
 Section 4.07 Approved Transaction. If a Majority in Interest of MBOCo or Holding
proposes to consummate a sale of all, or substantially all, of the assets of MBOCo, Holding and/or their Subsidiaries, or all, or substantially all, of the assets of any of them, or proposes to consummate a merger, consolidation, recapitalization,
or reorganization of MBOCo, Holding or any of their Subsidiaries, or any other transaction requiring the consent or approval of the Shareholders of MBOCo or Holding (each a “Majority Approved Transaction”), then notwithstanding
anything to the contrary in this Agreement, each Shareholder shall (a) vote (in person, by proxy or by written consent, as requested) all of such Shareholder’s Securities of MBOCo or Holding in favor of the Majority Approved Transaction
(and any related actions necessary to consummate such transaction) and otherwise consent to and raise no objection to such Majority Approved Transaction and such related actions and (b) refrain from taking any actions to exercise, and take all
actions to waive, any dissenters’, appraisal or other similar rights that such Shareholder may have in connection with such transaction. 

  
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 ARTICLE 5 
 MARKET STAND-OFF AGREEMENT; NO EMPLOYMENT RIGHTS 
 Section 5.01
No Registration Rights. No Shareholder shall have the right to require a Company to register any Securities under the Securities Act in connection with a Public Offering, or otherwise. 

Section 5.02 Market Stand-Off Agreement. Each Shareholder of MBOCo agrees to execute and, notwithstanding any such
execution, be bound by any agreement approved by the Board of MBOCo that restricts the Transfer of such Shareholder’s Common Shares of MBOCo or Holding (or any shares of common stock of any Subsidiary or Affiliate of MBOCo or Holding into which
such Common Shares are converted or for which such Common Shares are exchanged) for a period of time commencing on or about the closing of any initial Public Offering of MBOCo, Holding, or any Subsidiary or Affiliate of MBOCo or Holding and
continuing for such period of time as the Board of MBOCo shall approve. 
 Section 5.03 No Employment Rights.
Nothing contained in this Agreement or in any other agreement entered into by MBOCo or any of its Subsidiaries and any Shareholder contemporaneously with the execution of this Agreement (i) obligates MBOCo or any of its Subsidiaries to employ
any Shareholder in any capacity whatsoever or (ii) prohibits or restricts MBOCo or any of its Subsidiaries from terminating the employment of any Shareholder at any time or for any reason whatsoever, with or without Cause, and each Shareholder
hereby acknowledges and agrees, subject to such Shareholder’s rights under any effective employment agreement, that neither MBOCo, any of its Subsidiaries nor any other person has made any representations or promises whatsoever to such
Shareholder concerning such Shareholder’s employment or continued employment by MBOCo or any of its Subsidiaries. 

ARTICLE 6 

CERTAIN COVENANTS AND AGREEMENTS 
 Section 6.01 Confidentiality. 
 (a) Each Shareholder of MBOCo
and Holding agrees that Confidential Information furnished and to be furnished to such Shareholder has been and may in the future be made available in connection with such Shareholder’s investment in MBOCo and Holding. Each Shareholder agrees
that such Shareholder shall use, and that it shall cause any Person to whom Confidential Information is disclosed pursuant to clause (i) below to use, the Confidential Information only in connection with such Shareholder’s investment in
MBOCo and Holding and not for any other purpose (including to disadvantage competitively MBOCo, Holding or any of their Subsidiaries). Each Shareholder further acknowledges and agrees that it shall not disclose any Confidential Information to any
Person, except that Confidential Information may be disclosed: 
 (i) to such Shareholder’s Representatives in the normal
course of the performance of their duties or to any financial institution providing credit to such Shareholder, 
 (ii) to the
extent required by applicable law, rule or regulation (including complying with any oral or written questions, interrogatories, requests for information 

  
 21 

 
or documents, subpoena, civil investigative demand or similar process to which a Shareholder is subject, provided that such Shareholder agrees to give MBOCo and Holding prompt notice of
such request(s), to the extent practicable, so that MBOCo and Holding may seek an appropriate protective order or similar relief (and the Shareholder shall cooperate with such efforts, and shall in any event make only the minimum disclosure required
by such law, rule or regulation)), 
 (iii) to any Person to whom such Shareholder is contemplating a Transfer of such
Shareholder’s Common Shares of MBOCo and/or Holding, provided that such Transfer would not be in violation of the provisions of this Agreement and such potential transferee is advised of the confidential nature of such information and
agrees to be bound by a confidentiality agreement consistent with the provisions hereof, 
 (iv) to any regulatory authority or
rating agency to which the Shareholder or any of such Shareholder’s affiliates is subject or with which such Shareholder has regular dealings, as long as such authority or agency is advised of the confidential nature of such information,

 (v) to the extent related to the tax treatment and tax structure of the transactions contemplated by this Agreement
(including all materials of any kind, such as opinions or other tax analyses of MBOCo and/or Holding, their Affiliates or their Representatives have provided to such Shareholder relating to such tax treatment and tax structure), provided that the
foregoing does not constitute an authorization to disclose the identity of any existing or future party to the transactions contemplated by this Agreement or their Affiliates or Representatives, or, except to the extent relating to such tax
structure or tax treatment, any specific pricing terms or commercial or financial information, or 
 (vi) if the prior written
consent of the Board of MBOCo and Holding shall have been obtained. 
 Nothing contained herein shall prevent the use (subject, to the extent
possible, to a protective order) of Confidential Information in connection with the assertion or defense of any claim by or against MBOCo and/or Holding or any Shareholder thereof. 

(b) “Confidential Information” means any information concerning MBOCo or its Subsidiaries, including the financial
condition, business, operations or prospects of MBOCo or its Subsidiaries in the possession of or furnished to any Shareholder of MBOCo (including by virtue of its present or former right to designate a director of such Company), provided
that the term “Confidential Information” does not include information that is or becomes generally available to the public other than as a result of a disclosure by such Shareholder or such Shareholder’s agents, counsel, auditors,
investment advisers or other representatives (all such persons being collectively referred to as “Representatives”) in violation of the applicable agreement. 
 This Section 6.01 shall be in addition to and not in substitution of any other similar restrictions that may be binding on the Shareholders of MBOCo or Holding under any agreement, policy or practice
of MBOCo or any of its Subsidiaries, and in the event of any conflict between the provisions of this 6.01 and any such agreement, policy or practice, such provisions shall be construed in a manner to provide the broadest possible scope to the
restrictions contained herein and therein. 

  
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 Section 6.02 Conflicting Agreements. MBOCo and each Shareholder of MBOCo
represents and agrees that he, she or it shall not (a) grant any proxy or enter into or agree to be bound by any voting trust or agreement with respect to any Securities of MBOCo, except as expressly contemplated by this Agreement,
(b) enter into any agreement or arrangement of any kind with any Person with respect to any Securities of MBOCo or Holdings inconsistent with the provisions of this Agreement or for the purpose or with the effect of denying or reducing the
rights of any other Shareholder under this Agreement, including agreements or arrangements with respect to the Transfer or voting of such Securities or (c) act, for any reason, as a member of a group or in concert with any other Person in
connection with the Transfer or voting of such Shareholder’s Securities in any manner that is inconsistent with the provisions of this Agreement. 
 ARTICLE 7 
 MISCELLANEOUS 

Section 7.01 Binding Effect; Assignability; Benefit. 

(a) This Agreement shall inure to the benefit of and be binding upon the parties hereto and their respective heirs, successors, legal
representatives and permitted assigns. Any Shareholder that ceases to own beneficially any Securities of a Company shall cease to be bound by the terms hereof with respect to such Securities (other than Sections 6.01, 7.02, 7.05, 7.06, 7.07 and
7.08). 
 (b) Neither this Agreement nor any right, remedy, obligation or liability arising hereunder or by reason hereof shall
be assignable by any Shareholder pursuant to any Transfer of Securities or otherwise, except that any Permitted Transferee acquiring Securities shall comply with Section 3.04 on or before such acquisition. 

(c) Nothing in this Agreement, expressed or implied, is intended to confer on any Person other than the parties hereto, and their
respective heirs, successors, legal representatives and permitted assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 
 Section 7.02 Notices. All notices, requests and other communications to any party hereunder shall be in writing (including facsimile transmission and email transmission, so long as a
receipt of such email is requested and received) and shall be given, 
 if to Tops MBO Corporation, to: 

Tops MBO Corporation 
 P.O. Box 1027 
 Buffalo, New York 14240 

Attention: Frank Curci and Lynne Burgess 
 Facsimile No.: (716) 635-5102 
 E-mail: fcurci@topsmarkets.com and
lburgess@topsmarkets.com 

  
 23 

 if to Tops Holding II Corporation, to: 

Tops Holding II Corporation 
 P.O. Box 1027 
 Buffalo, New York 14240 

Attention: Frank Curci and Lynne Burgess 
 Facsimile No.: (716) 635-5102 
 E-mail: fcurci@topsmarkets.com and
lburgess@topsmarkets.com 
 with a copy in each case to: 

Hodgson Russ LLP 
 140 Pearl Street 
 Suite 100 

Buffalo, New York 14202 
 Attention: John J. Zak 
 Facsimile No.: (716) 849-0349 

E-mail: jzak@hodgsonruss.com 
 if to a Shareholder, to such Shareholder’s mailing address as set forth on Exhibit B attached hereto, 
 or such other address or facsimile number as such party may hereafter specify for the purpose by notice to the other parties hereto. All such notices, requests and other communications shall be deemed
received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. in the place of receipt and such day is a business day in the place of receipt. Otherwise, any such notice, request or communication shall be deemed not to have
been received until the next succeeding business day in the place of receipt. 
 Section 7.03 Waiver;
Amendment. 
 (a) No provision of this Agreement may be waived except by an instrument in writing executed by the party
against whom the waiver is to be effective. No provision of this Agreement may be amended or otherwise modified except by an instrument in writing executed by each Company and at least a Majority in Interest of each Company. For the avoidance of
doubt, a Majority in Interest of a Company may grant a waiver or effect a modification or amendment to this Agreement on behalf of all Shareholders of such Company. 
 (b) In addition, any amendment or modification of any provision of this Agreement that would adversely affect any Shareholder of a Company on a basis disproportionate to the other Shareholders of such
Company may be effected only with the prior written consent of such Shareholder. 
 Section 7.04 Fees and
Expenses. MBOCo shall pay all reasonable out-of-pocket costs and expenses of the Shareholders of each Company, including the reasonable fees and expenses of counsel, incurred in connection with the preparation of this Agreement, or any amendment
or waiver hereof. 

  
 24 

 Section 7.05 Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of New York, without regard to the conflicts of laws rules of such state. 

Section 7.06 Jurisdiction. The parties hereby agree that any suit, action or proceeding seeking to enforce any
provision of or based on any matter arising out of or in connection with, this Agreement or the transactions contemplated hereby shall be brought in the United States District Court for the Western District of New York or any New York State court
sitting in Erie County, so long as one of such courts shall have subject matter jurisdiction over such suit, action or proceeding, and that any case of action arising out of this Agreement shall be deemed to have arisen from a transaction of
business in the State of New York, and each of the parties hereby irrevocably consents to the jurisdiction of such courts (and of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the
fullest extent permitted by law, any objection that it may now or hereafter have to the laying of the venue of any such suit, action or proceeding in any such court or that any such suit, action or proceeding which is brought in any such court has
been brought in an inconvenient form. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without the jurisdiction of any such court. Without limiting the foregoing, each party agrees
that service of process on such party as provided in Section 7.02 shall be deemed effective service of process on such party. 
 Section 7.07 Waiver Of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. 
 Section 7.08 Specific Enforcement. Each party hereto
acknowledges that the remedies at law of the other parties for a breach or threatened breach of this Agreement would be inadequate and, in recognition of this fact, any party to this Agreement, without posting any bond, and in addition to all other
remedies that may be available, shall be entitled to obtain equitable relief in the form of specific performance, a temporary restraining order, a temporary or permanent injunction or any other equitable remedy that may then be available.

 Section 7.09 Counterparts; Effectiveness; Third Party Beneficiaries. This Agreement may be signed in any
number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument. Executed signature pages delivered by facsimile or email will be treated in all respects as
original signature pages. This Agreement shall become effective when each party hereto shall have received a counterpart hereof signed by all of the other parties hereto. Until and unless each party has received a counterpart hereof signed by the
other party hereto, this Agreement shall have no effect and no party shall have any right or obligation hereunder (whether by virtue of any other oral or written agreement or other communication). No provision of this Agreement is intended to confer
any rights, benefits, remedies, obligations, or liabilities hereunder upon any Person other than the parties hereto and their respective successors and assigns. 
 Section 7.10 Entire Agreement. This Agreement constitutes the entire agreement among the parties with respect to the subject matter hereof and thereof and supersede all prior and
contemporaneous agreements and understandings, both oral and written, among the parties with respect such subject matter. 

  
 25 

 Section 7.11 Severability. If any term, provision, covenant or
restriction of this Agreement is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and
effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a determination, the parties
shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner so that the transactions contemplated hereby be consummated as originally contemplated to the
fullest extent possible. 
 [SIGNATURE PAGE FOLLOWS] 

  
 26 

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

			
	TOPS MBO CORPORATION
		
	By:	 	 /s/ Francis Curci

	Name:	 	Francis Curci
	Title:	 	President and Chief Executive Officer

 

			
	SHAREHOLDERS OF TOPS MBO CORPORATION:
	
	 /s/ John Barrett
 John Barrett

	
	 /s/ Lynne Burgess
 Lynne Burgess

	
	 /s/ Diane Colgan
 Diane Colgan

	
	 /s/ Jeffrey Culhane
 Jeffrey Culhane

	
	 /s/ Francis Curci
 Francis Curci

	
	 /s/ Kevin Darrington
 Kevin Darrington

	
	 /s/ Ronald Ferri
 Ronald Ferri

	
	 /s/ Thomas Fitzgerald
 Thomas Fitzgerald

			
	
	 /s/ David Langless
 David Langless

	
	 /s/ Michael Metz
 Michael Metz

	
	 /s/ William Mills
 William Mills

	
	 /s/ Michael Patti
 Michael Patti

	
	 /s/ John Persons
 John Persons

	
	 /s/ Catherine Shifflett
 Catherine Shifflett

  

			
	TOPS HOLDING II CORPORATION
		
	By:	 	 /s/ Francis Curci

	Name:	 	Francis Curci
	Title:	 	President and Chief Executive Officer

 

			
	SHAREHOLDERS OF TOPS HOLDING II CORPORATION:
	
	 /s/ John Barrett
 John Barrett

	
	 /s/ Lynne Burgess
 Lynne Burgess

	
	
	 /s/ Francis Curci
 Francis Curci

	
	 /s/ Kevin Darrington
 Kevin Darrington

	
	 /s/ William Mills
 William Mills

	
	 /s/ John Persons
 John Persons

  

			
	TOPS MBO CORPORATION, in its capacity as a shareholder of Holding.
		
	By:	 	 /s/ Francis Curci

	Name:	 	Francis Curci
	Title:	 	President and Chief Executive Officer

 EXHIBIT A 
 JOINDER TO SHAREHOLDERS’ AGREEMENT 
 This Joinder Agreement
(this “Joinder Agreement”) is made as of the date written below by the undersigned (the “Joining Party”) in accordance with the Shareholders’ Agreement dated as of November 29, 2013 (the
“Shareholders’ Agreement”) among Tops MBO Corporation, Tops Holding II Corporation and their shareholders party thereto, as the same may be amended from time to time. Capitalized terms used, but not defined, herein shall have
the meaning ascribed to such terms in the Shareholders’ Agreement. 
 The Joining Party hereby acknowledges, agrees and
confirms that, by the Joining Party’s execution of this Joinder Agreement, the Joining Party shall be deemed to be a party to the Shareholders’ Agreement as of the date of this Joinder Agreement and shall have all of the rights and
obligations of a Shareholder. The Joining Party hereby ratifies, as of the date of this Joinder Agreement, and agrees to be bound by, all of the terms, provisions and conditions contained in the Shareholders’ Agreement. 

IN WITNESS WHEREOF, the undersigned has executed this Joinder Agreement as of the date written below. 

Date:                     , 

 

			
	[NAME OF JOINING PARTY]
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address for Notices:

 EXHIBIT B 
 SHAREHOLDER ADDRESSES 
  

			
	 NAME
	  	 ADDRESS

	John Barrett	  	
	Lynne Burgess	  	
	Diane Colgan	  	
	Jeffrey Culhane	  	
	Francis Curci	  	
	Kevin Darrington	  	
	Ronald Ferri	  	
	Thomas Fitzgerald	  	
	David Langless	  	
	Michael Metz	  	
	William R. Mills	  	
	Michael Patti	  	
	John Persons	  	
	Catherine Shifflett

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