Document:

EX-10.4

 Exhibit 10.4 

Secured Recourse Promissory Note and Pledge Agreement 
  

					
	Maker:	  	Stephen Daffron	  	
			
	Maker’s Address and Fax:	  	  
	  	
		  	  
	  	
		  	  
	  	
			
	Principal Amount:	  	$5,000,000.00	  	
			
	Dated:	  	September 26, 2013	  	
			
	Place of Delivery:	  	Bedford, MA	  	
		
	Maturity Date:	  	The earliest to occur of (i) the termination of Maker’s employment with Interactive Data Corporation (the “Employer”) for Cause (as defined in Maker’s employment agreement with the
Employer, dated September 12, 2013, (ii) two business days prior to the anticipated occurrence of any event (as reasonably determined by the Holder) with respect to the Maker, which, in any such case if the Note were to be outstanding on and/or
after such date, would result in a violation of Section 402 of the Sarbanes-Oxley Act of 2002 (and any successor provision or legislation thereto), and for which no exemption is then applicable and (iii) the eighteen (18) month anniversary of the
date of this Note.

 Section 1. Promise to Repay; Interest; Prepayments, Events of Default. 

(a) FOR VALUE RECEIVED, Stephen Daffron (the “Maker”), an individual with an address set forth above, hereby
unconditionally agrees to pay to the order of Igloo Holdings Corporation (“Holder”), the Principal Amount set forth above on the Maturity Date set forth above in this Secured Recourse Promissory Note and Pledge Agreement
(this “Note”), and to pay on the Maturity Date set forth above interest on the unpaid principal amount of this Note from and including the date hereof until maturity and, to the extent permitted by applicable law, on any
overdue interest payable on this Note so long as the principal balance of this Note remains outstanding, at the rate per annum equal to 0.75%. One hundred percent (100%) of the Principal Amount and one hundred percent (100%) of the accrued
interest shall be fully recourse as to the Maker, and Holder shall have all the rights and remedies of a secured party under the Uniform Commercial Code. 

(b) Payments of both principal and interest are to be made on the Maturity Date without setoff or counterclaim in lawful money of the United
States of America in same day or immediately available funds to the account of Holder specified from time to time by Holder to the Maker. 

 (c) The Maker may prepay amounts due under this Note at any time without premium or penalty,
which shall be applied first to accrued interest, if any, second to any outstanding principal. 
 (d) Anything herein to the contrary
notwithstanding, (i) to the extent that the Maker is entitled to any extraordinary cash distributions (including liquidating dividends and payments in respect of redemption) in respect of any Shares or Additional Shares (each as defined in
Section 2 below), one hundred percent (100%) of such distributions shall be retained by Holder and applied first to outstanding Obligations (other than accrued and unpaid interest and outstanding principal), second to accrued and unpaid
interest, and third to outstanding principal and, after such application, Maker shall be entitled to the remainder, if any, and (ii) to the extent that Maker sells any Shares or Additional Shares, one hundred percent (100%) of the net
proceeds from the sale of such Shares and/or Additional Shares, after the payment of any commission and income taxes arising directly from such sale, shall be promptly remitted to Holder, and shall then be applied first to outstanding Obligations
(other than accrued and unpaid interest and outstanding principal), second to accrued and unpaid interest, and third to outstanding principal and, after such application, Maker shall be entitled to the remainder, if any. Maker shall not be entitled
to sell any Share or Additional Share (i) for consideration other than cash or (ii) following the occurrence and during the continuance of a Default. 

(e) Interest shall be computed on the basis of the actual number of days elapsed over a year of 365 days. Interest shall be compounded
annually. 
 (f) The principal of this Note shall become immediately due and payable upon the occurrence of any of the following events (a
“Default”): (i) the Maker shall fail to make any payment of the principal of this Note when due and such failure shall have continued for a period of 2 calendar days, (ii) the Maker shall fail to make any payment of
interest on this Note when due and such failure shall have continued for a period of 2 calendar days, (iii) the Maker shall admit in writing his inability to pay debts when due or shall file a petition under any state or federal bankruptcy or
insolvency statute or any such petition shall be filed against the Maker, (iv) the security interest in the Collateral (as defined in Section 2 below) purported to be created under this Note shall fail to constitute a first priority
perfected security interest securing the Obligations (as defined in Section 2 below), (v) the Maker shall fail to comply with any other covenant under this Note and such failure shall continue for a period of 10 days after written notice
thereof shall have been given by Holder to the Maker, or (vi) the Holder determines, upon the advice of legal counsel, that this Note violates any provision of the Sarbanes-Oxley Act of 2002, or any other applicable law. At any time during the
continuance of any such Default event, Holder by notice to Maker may declare the principal of this Note immediately due and payable together with accrued and unpaid interest thereon and all other unpaid amounts owing hereunder, provided that upon
the occurrence of an event described in clause (iii) above the principal of this Note shall automatically become immediately due and payable together with accrued and unpaid interest thereon and all other unpaid amounts owing hereunder. 

(g) The Maker waives presentment for payment, demand, protest and notice of dishonor. 

 Section 2. Pledge of Stock as Collateral. 

(a) As security for the repayment of the principal of and interest on this Note and the costs of collection of this Note, including, without
limitation, the reasonable attorneys fees and expenses (collectively, the “Obligations”), the Maker hereby grants to Holder a security interest in 8,620,689 shares of common stock of the Holder acquired pursuant to the
Subscription Agreement between the Maker and Holder, dated even herewith (the “Shares”), including all cash and stock dividends and other distributions made from time to time in respect of the Shares and all proceeds thereof,
and any additional shares of common stock of the Holder acquired by the Maker following the date hereof (“Additional Shares”), including all cash and stock dividends and other distributions made from time to time in respect
of the Additional Shares and all proceeds thereof (collectively, the “Collateral”). Contemporaneously with the execution of this Note, in the case of the Shares, and within ten (10) days following acquisition, in the
case of Additional Shares, unless Holder otherwise holds such Shares or Additional Shares in “book entry” form, Maker shall deliver to Holder the certificate(s) representing the Shares, or Additional Shares, as applicable, together with
duly endorsed in blank or accompanied by stock powers duly executed in blank, any documentary tax stamps and any other document necessary to cause Holder to have a good, valid and perfected first pledge of, lien on and security interest in such
stock, free and clear of any mortgage, pledge, lien security interest, hypothecation, assignment, charge, right, encumbrance or restriction. At any time following a Default, any or all of the Shares and Additional Shares held by Maker hereunder may
be registered, at the option of Holder exercised in accordance with Section 2(d) hereof, in the name of Holder or in the name of its nominee as pledgee. 

(b) All non-cash distributions shall be retained by, or otherwise delivered promptly upon receipt to, Holder to be held as Collateral. So
long as no Default shall have occurred and be continuing, (i) all other cash distributions shall be received by the Maker (subject to Section 1(d) above), and (ii) the Maker may vote all shares of stock included in the Collateral. Any
distribution paid to Maker which are required to be paid to Holder shall be held in trust by the Maker prior to delivery to Holder. 
 (c)
To the extent that any notice is required to be given to the Maker in connection with the sale or other disposition of Collateral, the Maker agrees that 10 calendar days’ notice is reasonable. 

(d) Upon the occurrence and during the continuance of a Default, all rights of Maker to exercise the voting and/or consensual rights and
powers which Maker is entitled to exercise and/or to receive the dividends, and all other cash distributions which Maker is authorized to receive and retain pursuant to Section 2(b) hereof shall cease, at the option of Holder, and all such
rights shall thereupon become vested in Holder, which shall have the sole and exclusive right and authority to exercise such voting and/or consensual rights and powers and/or to receive and retain such dividends, and cash distributions. In such case
Maker shall execute and deliver such documents as Holder may reasonably request to enable Holder to exercise such rights and receive such dividends. In addition, Holder is hereby appointed the attorney-in-fact of Maker, with full power of
substitution, which appointment as attorney-in-fact is irrevocable and coupled with an interest, to take all such actions after the occurrence and during the continuance of a Default, whether in the name of Holder or Maker, as Holder may

 
consider necessary or desirable for the purpose of exercising such rights and receiving such dividends. Any and all money and other property paid over to or received by Holder pursuant to the
provisions of this Section 2(d) shall be retained by Holder and shall be applied in accordance with the provisions hereof. 
 (e)
Maker hereby irrevocably authorizes Holder at any time and from time to time to file in any relevant jurisdiction any initial financing statements and amendments thereto that 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. Maker agrees to promptly provide such information to Holder upon request. 

Section 3. Representations and Warranties. The Maker represents and warrants that this Note has been duly executed by him and
constitutes his legal, valid and binding obligation. 
 Section 4. Covenants. The Maker agrees that so long as any portion of
the Obligations remains unpaid, he will (a) not create or permit to exist any lien or security interest of any nature whatsoever on the Collateral other than in favor of Holder and (b) execute and deliver promptly upon request such
documents which Holder may deem necessary or desirable to create, perfect or continue the perfection of the first priority security interest in the Collateral purported to be created in the Collateral to secure the repayment in full of the
Obligations. 
 Section 5. Governing Law. This Note shall be deemed to be a contract made under and governed by the internal
laws of the State of Delaware without regard to conflicts of law principles. 
 Section 6. Notices. All notices, requests and
demands to or upon the respective parties hereto to be effective shall be in writing (including by facsimile), and, unless otherwise expressly provided herein, shall be deemed to have been duly given or made when delivered by hand, or three days
after being deposited in the mail, postage prepaid, or, in the case of facsimile, when received, addressed as follows to the Company and the Executive, or to such other address as may be hereafter notified by the parties hereto: 

If to the Holder, to it at the following address: 

c/o Interactive Data Corporation 

2 Crosby Drive 
 Bedford,
Massachusetts 01730-1402 
 Attn:    Chief Financial Officer 

Telephone: (781) 687-8500 

Fax: (781) 687-8005 

 with a copy to: 

Simpson Thacher & Bartlett LLP 

425 Lexington Avenue 

New York, New York 10017 

Attn:    David E. Rubinsky 

Telephone: (212) 455-2493 

Fax: (212) 455-2502 

If to the Maker, to him or her at his or her address or facsimile number set forth on above. 

Section 7. No Oral Amendments or Waivers; Delay in Enforcement of Rights Not a Waiver by Holder. This Note may not be amended,
modified or waived except by writing executed by the Maker and Holder. No failure on the part of Holder to exercise and no delay in exercising and no course of dealing with respect to any right, power or privilege under this Note shall operate as a
waiver thereof, nor shall any single or partial exercise of any right, power or privilege under this Note preclude any other or further exercise thereof or the exercise of any other right, power or privilege. The remedies provided herein are
cumulative and not exclusive of any remedies provided by law. 
 Section 8. WAIVER OF TRIAL BY JURY. THE MAKER AND HOLDER EACH
HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (I) UNDER THIS NOTE OR (II) IN ANY WAY CONNECTED WITH OR RELATED OR INCIDENTAL TO THE DEALING OF THE PARTIES HERETO IN RESPECT OF THIS NOTE, AND WHETHER IN
CONTRACT, TORT, EQUITY OR OTHERWISE. MAKER AND HOLDER EACH HEREBY AGREES AND CONSENTS THAT ANY SUCH CLAIM, DEMAND, ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND THAT MAKER OR HOLDER MAY FILE AN ORIGINAL COUNTERPART OF
A COPY OF THIS NOTE WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE WAIVER OF THEIR RIGHT TO TRIAL BY JURY. 

Section 9. Successors and Assigns. This Note shall be binding upon the successors or assigns of Maker, provided that Maker agrees
not assign or delegate any of his rights or duties hereunder or any interest herein; any purported assignment or delegation in violation of the foregoing shall be void. This Note shall inure to the benefit of the successors and assigns of Holder.

*            *           
 * 

 IN WITNESS WHEREOF, the Maker has executed this Note as of the date set forth above. 

 

	
	 /s/ Stephen Daffron

	Maker

  

			
	Accepted:
	
	Igloo Holdings Corporation
		
	By:	 	 /s/ Vincent A. Chippari

	Title:	 	TreasurerEX-10.5

 Exhibit 10.5 

FORM OF JOINDER 
 JOINDER TO
SHAREHOLDERS AGREEMENT 
 THIS JOINDER AGREEMENT (this “Agreement”) is made as of September 26, 2013 by Stephen
Daffron having an address at
                                         (the
“Joining Party”). Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Shareholders Agreement (as defined below). 

W I T N E S S E T H 

WHEREAS, Igloo Holdings Corporation, a Delaware corporation (the “Company”), is a party to that certain Shareholders
Agreement, dated as of July 29, 2010, by and among Interactive Data Corporation, Igloo Intermediate Corporation, the Company and the investors on Schedule A thereto (as the same may be amended from time to time, the “Shareholders
Agreement”); 
 WHEREAS, the Shareholders Agreement provides that as a condition to becoming a Shareholder, a Person must execute
and deliver to the Company a joinder agreement pursuant to which such Person agrees to be bound by the terms and conditions of the Shareholders Agreement; 

WHEREAS, the Joining Party desires to become an Employee Shareholder of the Company by executing a copy of this Agreement; and 

WHEREAS, the Joining Party has reviewed the terms of the Shareholders Agreement and determined that it is desirable and in the Joining
Party’s best interests to execute this Agreement. 
 NOW, THEREFORE, the Joining Party hereby agrees as follows: 

1. Joinder of Shareholders Agreement. By executing this Joinder Agreement, the Joining Party (a) accepts and agrees to be bound by
all of the terms and provisions of the Shareholders Agreement as if he, she or it were an original signatory thereto, (b) shall be deemed to be and shall be entitled to all of the rights and subject to all of the obligations of an Employee
Shareholder thereunder, (c) acknowledges its grant of an irrevocable proxy pursuant to Section 5.23 of the Shareholders Agreement and (d) agrees to be added to each of Schedule A and Schedule B of the Shareholders
Agreement, with the notice information set forth on the signature page hereto. 
 2. Representations and Warranties. 

(i) This Agreement constitutes a valid and binding obligation enforceable against the Joining Party in accordance with its terms. 

(ii) The Joining Party has received a copy of the Shareholders Agreement. The Joining Party has read and understands the terms of the
Shareholders Agreement and has been afforded the opportunity to ask questions concerning the Company and the Shareholders Agreement. 

 3. Full Force and Effect. Except as expressly modified by this Agreement, all of the
terms, covenants, agreements, conditions and other provisions of the Shareholders Agreement shall remain in full force and effect in accordance with its terms. 

4. Notices. All notices provided to the Joining Party shall be sent or delivered to the Joining Party using the notice information set
forth on the signature page hereto unless and until the Company has received written notice from the Joining Party of a change to such information. 

5. Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware applicable to
contracts made and to be performed entirely within such state. 
 [Signature page follows] 

  
 - 2 - 

 IN WITNESS WHEREOF, the Joining Party has executed and delivered this Agreement as of the date
first above written. 
  

			
	JOINING PARTY
		
	By:	 	 /s/ Stephen Daffron

	Name:	 	Stephen Daffron
	
	Address:

  

			
	Acknowledged and Accepted:
	
	IGLOO HOLDINGS CORPORATION
		
	By:	 	 /s/ Vincent A. Chippari

	Name:	 	Vincent A. Chippari
	Title:	 	Treasurer

  
 [Signature Page to SHA
Joinder Agreement] 

			
	WARBURG PINCUS PRIVATE EQUITY X, L.P.
		
	By:	 	Warburg Pincus X, L.P., its general partner
		
	By:	 	Warburg Pincus X LLC, its general partner
		
	By:	 	Warburg Pincus Partners LLC, its sole member
		
	By:	 	Warburg Pincus & Co., its managing member

  

			
	By:	 	 /s/ Michael Bingle

	Name:	 	Michael Bingle
	Title:	 	Managing Director

  

			
	WARBURG PINCUS X PARTNERS, L.P.
		
	By:	 	Warburg Pincus X, L.P., its general partner
		
	By:	 	Warburg Pincus X LLC, its general partner
		
	By:	 	Warburg Pincus Partners LLC, its sole member
		
	By:	 	Warburg Pincus & Co., its managing member

  

			
	By:	 	 /s/ Michael Bingle

	Name:	 	Michael Bingle
	Title:	 	Managing Director

  
 [Signature Page to SHA
Joinder Agreement] 

			
	SILVER LAKE PARTNERS III, L.P.
		
	By:	 	Silver Lake Technology Associates III, L.P., its general partner
		
	By:	 	SLTA III (GP), L.L.C., its general partner
		
	By:	 	Silver Lake Group, L.L.C., its sole member

  

			
	By:	 	 /s/ James Neary

	Name:	 	James Neary
	Title:	 	Managing Director

  

			
	SILVER LAKE TECHNOLOGY INVESTORS III, L.P.
		
	By:	 	Silver Lake Technology Associates III, L.P., its general partner
		
	By:	 	SLTA III (GP), L.L.C., its general partner
		
	By:	 	Silver Lake Group, L.L.C., its sole member

  

			
	By:	 	 /s/ James Neary

	Name:	 	James Neary
	Title:	 	Managing Director

  
 [Signature Page to SHA
Joinder Agreement]

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