Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

SECOND AMENDMENT TO CREDIT AGREEMENT 

This SECOND AMENDMENT TO CREDIT AGREEMENT, dated as of November 30, 2017 (this “Second Amendment”), is among the
following: (i) AstroNova, Inc., a Rhode Island corporation (the “U.S. Borrower” and the existing “Domestic Guarantor”); (ii) ANI APS, a Danish private liability company (the “Danish
Borrower”); Trojan Label APS, a Danish private liability company (the “Foreign Guarantor”); and Bank of America, N.A. (the “Lender”). Capitalized terms used but not defined in this Second
Amendment shall have the meanings assigned to such terms in the Existing Credit Agreement (as defined below). 
 RECITALS: 

WHEREAS, reference is hereby made to the Credit Agreement, dated as of February 28, 2017 (the “Original Credit
Agreement”), by and among the U.S. Borrower, the Danish Borrower, the Domestic Guarantor, the Foreign Guarantor and the Lender; 

WHEREAS, the U.S. Borrower, the Danish Borrower, the Domestic Guarantor, the Foreign Guarantor and the Lender entered into a Consent under
Credit Agreement dated as of May 1, 2017 (the “Consent”) and a First Amendment to Credit Agreement dated as of September 28, 2017 (the “First Amendment”; the Credit Agreement, as so amended or otherwise
modified by the Consent and the First Amendment, the “Existing Credit Agreement”); 
 WHEREAS, the U.S. Borrower, the
Danish Borrower, the Domestic Guarantor, the Foreign Guarantor and the Lender wish to amend the Existing Credit Agreement as set forth herein; 

NOW, THEREFORE, in consideration of the premises, agreements, provisions and covenants herein contained, the parties hereto agree as follows:

 Section 1. Credit Agreement. As of the Effective Date (as defined below), the Original Credit Agreement (including
Exhibits C, D and F thereto, but excluding the other schedules and exhibits thereto) shall be amended in its entirety to read in the form attached hereto as Exhibit A, with the additions shown as underlined text and the deletions shown as
struck-through text in Exhibit A, which such additions and deletions give effect to the Consent, the First Amendment and this Second Amendment. The Original Credit Agreement and such Exhibits C, D and F thereto, as amended by the Consent,
this First Amendment and this Second Amendment, together with other Schedules and Exhibits thereto, is referred to herein as the “Amended Credit Agreement”. 

Section 2. Conditions to Effectiveness. 

This Second Amendment shall become effective on the first Business Day on which the following conditions are satisfied (the “Effective
Date”): 
 (a) the Lender’s receipt of the following properly executed documents, each of which shall be originals or
facsimiles or electronic copies (followed promptly by originals) unless otherwise specified: 
 (i) this Second Amendment;

 (ii) a Loan Notice for the U.S. Term Loan (used herein as defined in the Amended Credit Agreement) to be made pursuant to
the Amended Credit Agreement; 

 (iii) an opinion of Foley Hoag LLP, as counsel for the U.S. Borrower, in form and
substance reasonably satisfactory to the Lender; 
 (iv) a certificate executed by a Responsible Officer of each of
AstroNova, Inc., as U.S. Borrower and Domestic Guarantor, ANI APS, as Danish Borrower, and Trojan Label APS, as Foreign Guarantor, dated as of the date of this Second Amendment (A) certifying the Organizational Documents of each Loan Party (as
of a recent date or as of the Closing Date with no change thereafter), and (B) certifying and attaching resolutions adopted by each of such Loan Parties approving and authorizing the execution, delivery and performance of this Second Amendment
and, as to the U.S. Borrower, the borrowing and repayment of the U.S. Term Loan; and 
 (v) a payment instruction letter
executed by the U.S. Borrower directing disbursement of the U.S. Term Loan proceeds; 
 (b) all reasonable out-of-pocket costs and expenses
(including the reasonable fees, charges of a single counsel to the Lender) incurred in connection with the transactions contemplated hereby shall have been paid in full; 

(c) the U.S. Borrower shall repay to the Lender in full on the Effective Date the entire outstanding principal amount of all Revolving Loans
with proceeds of the U.S. Term Loan, and U.S. Borrower hereby agrees to pay accrued and unpaid interest thereon on the next succeeding Interest Payment Date; 

(d) after giving effect to this Second Amendment and the making of the U.S. Term Loan, no Default or Event of Default shall exist; 

(e) The Lender shall have received, in form and substance satisfactory to the Lender (i) as to the U.S. Borrower (A) searches of UCC
filings in the jurisdiction of incorporation or formation, as applicable, of the U.S. Borrower and each jurisdiction where a filing would need to be made in order to perfect the Lender’s security interest in the Collateral, copies of the
financing statements on file in such jurisdictions and evidence that no Liens exist other than Permitted Liens and (B) tax lien, judgment and bankruptcy searches; and (ii) searches of ownership of Intellectual Property in the United States
Patent and Trademark Office, the United States Copyright Office and such patent/trademark/copyright filings as requested by the Lender in order to perfect the Lender’s security interest in the Intellectual Property in the United States; and

 (f) the Lender shall have received in form and substance satisfactory to the Lender, the transcript from the Danish Business Authority for
the Danish Borrower and Foreign Guarantor. 
 Section 3. Representations and Warranties. Each of the Loan Parties
represents and warrants as follows: 
 (a) It has taken all necessary action to authorize the execution, delivery and performance of this
Second Amendment. 
 (b) This Second Amendment has been duly executed and delivered by such Person and constitutes such Person’s legal,
valid and binding obligation, enforceable in accordance with its terms, except as such enforceability may be subject to (i) bankruptcy, insolvency, reorganization, fraudulent conveyance or transfer, moratorium or similar laws affecting
creditors’ rights generally and (ii) general principles of equity (regardless of whether such enforceability is considered in a proceeding at law or in equity). 

  
 - 2 - 

 (c) No consent, approval, authorization or order of, or filing, registration or qualification
with, any court or governmental authority or third party is required in connection with the execution, delivery or performance by such Person of this Second Amendment. 

(d) After giving effect to this Second Amendment, the representations and warranties set forth in Article V of the Credit Agreement or in any
other Loan Document are true and correct in all material respects on and as of the date of this Second Amendment; provided that, to the extent that such representations and warranties specifically refer to an earlier date, they shall be true
and correct in all material respects as of such earlier date; provided further, that any representation or warranty that is qualified as to “materiality”, “Material Adverse Effect” or similar language shall be true and
correct (after giving effect to any qualification therein) without duplication of materiality qualifiers as of such date or such earlier date, as applicable. 

(e) After giving effect to this Second Amendment and the making of the U.S. Term Loan, no event has occurred and is continuing which
constitutes a Default or an Event of Default. 
 (f) The Collateral Documents continue to create a valid security interest in, and Lien upon,
the Collateral, in favor of the Lender, which security interests and Liens are perfected in accordance with the terms of the Collateral Documents and prior to all Liens other than Permitted Liens. 

Section 4. Acknowledgments and Affirmations of the Loan Parties. Each Loan Party hereby ratifies the Existing Credit
Agreement and expressly acknowledges the terms of this Second Amendment and confirms and reaffirms, as of the date hereof, (i) the covenants and agreements contained in each Loan Document to which it is a party, including, in each case, such
covenants and agreements as in effect immediately after giving effect to this Second Amendment and the transactions contemplated hereby and thereby, and agrees it is bound by all terms of the Credit Agreement applicable to it and agrees to observe
and fully perform its respective Obligations. (ii) its respective guarantee, if any, pursuant to Article IX of the Credit Agreement and (iii) in the case of the U.S. Borrower, its grant of Liens on the Collateral to secure its Secured
Obligations pursuant to the Collateral Documents. 
 Section 5. Other. This Second Amendment, the Amended Credit
Agreement and the other Loan Documents constitute the entire agreement among the parties hereto with respect to the subject matter hereof and thereof and supersede all other prior agreements and understandings, both written and verbal, among the
parties hereto with respect to the subject matter hereof. Except as expressly set forth herein (including in the Amended Credit Agreement), this Second Amendment shall not by implication or otherwise limit, impair, constitute a waiver of, or
otherwise affect the rights and remedies of any party under, the Existing Credit Agreement, nor alter, modify, amend or in any way affect any of the terms, conditions, obligations, covenants or agreements contained in the Existing Credit Agreement,
all of which are ratified and affirmed in all respects and shall continue in full force and effect. It is understood and agreed that each reference in each Loan Document to the Credit Agreement, whether direct or indirect, shall hereafter be deemed
to be a reference to the Amended Credit Agreement and that this Second Amendment is a Loan Document. 
 Section 6. Governing
Law; Submission to Jurisdiction; Venue; Waiver of Jury Trial. THIS SECOND AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES HEREUNDER SHALL BE GOVERNED BY, CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.
THE JURISDICTION, SERVICE OF PROCESS AND WAIVER OF JURY TRIAL PROVISIONS SET FORTH IN SECTIONS 10.13 AND 10.14 OF THE CREDIT AGREEMENT ARE HEREBY INCORPORATED BY REFERENCE INTO THIS SECOND AMENDMENT AND SHALL APPLY MUTATIS MUTANDIS HERETO.

  
 - 3 - 

 Section 7. Severability. Any term or provision of this Second Amendment which
is invalid or unenforceable in any jurisdiction shall, as to that jurisdiction, be ineffective to the extent of such invalidity or unenforceability without rendering invalid or unenforceable the remaining terms and provisions of this Second
Amendment or affecting the validity or enforceability of any of the terms or provisions of this Second Amendment in any other jurisdiction. If any provision of this Second Amendment is so broad as to be unenforceable, the provision shall be
interpreted to be only so broad as would be enforceable. 
 Section 8. Counterparts. This Second Amendment may be
executed in counterparts (and by different parties hereto in different counterparts), each of which shall constitute an original but all of which when taken together shall constitute a single contract. Delivery of an executed counterpart of a
signature page of this Second Amendment by telecopy or e-mail (including in a “.pdf” format) shall be effective as delivery of a manually executed counterpart of this Second Amendment and shall be followed by such manually executed
counterpart. 
 Section 9. Further Assurances. The Loan Parties agree to promptly take such action, upon the request of
Lender, as is necessary to carry out the intent of this Second Amendment. 
 Section 10. No Actions, Claims, etc. As of
the date hereof, each of the Loan Parties hereby acknowledges and confirms that it has no knowledge of any actions, causes of action, claims, demands, damages and liabilities of whatever kind or nature, in law or in equity, against the Lender or the
Lender’s respective officers, employees, representatives, agents, counsel or directors arising from any action by such Persons, or failure of such Persons to act under the Existing Credit Agreement on or prior to the date hereof. 

[Signature pages follow] 

  
 - 4 - 

 IN WITNESS WHEREOF the parties hereto have caused this Second Amendment to be duly executed under
seal on the date first above written. 
  

									
	U.S. BORROWER	 		 		 		 	
	AND DOMESTIC GUARANTOR:	 		 	ASTRONOVA, INC.
				
		 		 	By: 	 	/s/ Joseph P. O’Connell
		 		 		 	Name:	 	Joseph P. O’Connell
		 		 		 	Title:	 	Vice President and Chief Financial
		 		 		 		 	Officer

									
	DANISH BORROWER:	 		 	ANI APS
				
		 		 	By: 	 	/s/ Gregory A. Woods
		 		 		 	Name:	 	Gregory A. Woods
		 		 		 	Title:	 	Chief Executive Officer and Chairman
		 		 		 		 	of the Board

									
	FOREIGN GUARANTOR:	 		 	TROJAN LABEL APS
				
		 		 	By: 	 	/s/ Gregory A. Woods
		 		 		 	Name:	 	Gregory A. Woods
		 		 		 	Title:	 	Chairman of the Board

									
	LENDER:	 		 	BANK OF AMERICA, N.A., as Lender
				
		 		 	By: 	 	/s/ Colleen M. O’Brien
		 		 		 	Name:	 	Colleen M. O’Brien
		 		 		 	Title:	 	Senior Vice President

 EXHIBIT A to Second Amendment 

(see conformed Credit Agreement attached) 

 Execution Version 

CONFORMED THROUGH SECOND AMENDMENT 

 
  

CREDIT AGREEMENT 
 Dated as
of February 28, 2017 
 among 

ASTRONOVA, INC., 
 as
the U.S. Borrower, 
 ANI APS, 

as the Danish Borrower, 

CERTAIN SUBSIDIARIES OF THE BORROWER PARTY HERETO, 

as the Guarantors 
 and 

BANK OF AMERICA, N.A., 

as the Lender 
  

 

 TABLE OF CONTENTS 
  

							
	 	 	 	  	Page	 
	Article I	 	 DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 1.01
	 	 Defined Terms
	  	 	1	 
			
	 1.02
	 	 Other Interpretive Provisions
	  	 	3233	 
			
	 1.03
	 	 Accounting Terms
	  	 	34	 
			
	 1.04
	 	 Rounding
	  	 	3335	 
			
	 1.05
	 	 Times of Day; Rates
	  	 	35	 
			
	 1.06
	 	 Letter of Credit Amounts
	  	 	35	 
			
	 1.07
	 	 UCC Terms
	  	 	3435	 
			
	 1.08
	 	 Exchange Rates; Currency Equivalents
	  	 	3435	 
			
	 1.09
	 	 Additional Alternative Currencies
	  	 	3436	 
			
	 1.10
	 	 Change of Currency
	  	 	3536	 
			
	Article II	 	 COMMITMENTS AND CREDIT EXTENSIONS
	  	 	3537	 
			
	 2.01
	 	 Loans
	  	 	3537	 
			
	 2.02
	 	 Borrowings, Conversions and Continuations of Loans
	  	 	3637	 
			
	 2.03
	 	 Letters of Credit
	  	 	3739	 
			
	 2.04
	 	 Reserved
	  	 	4344	 
			
	 2.05
	 	 Prepayments
	  	 	4344	 
			
	 2.06
	 	 Termination or Reduction of Commitments
	  	 	4546	 
			
	 2.07
	 	 Repayment of Loans
	  	 	47	 
			
	 2.08
	 	 Interest and Default Rate
	  	 	4648	 
			
	 2.09
	 	 Fees
	  	 	4749	 
			
	 2.10
	 	 Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate
	  	 	4749	 
			
	 2.11
	 	 Payments Generally
	  	 	4850	 
			
	 2.12
	 	 Cash Collateral
	  	 	4850	 
			
	 2.13
	 	 Incremental Commitments
	  	 	4951	 
			
	 2.14
	 	 Register
	  	 	5153	 
			
	 2.15
	 	 Bifurcation
	  	 	5153	 
			
	Article III	 	 TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	5153	 
			
	 3.01
	 	 Taxes
	  	 	5153	 
			
	 3.02
	 	 Illegality
	  	 	5355	 
			
	 3.03
	 	 Inability to Determine Rates
	  	 	5456	 
			
	 3.04
	 	 Increased Costs; Reserves on Eurocurrency Rate Loans
	  	 	5557	 

  
 i 

							
			
	 3.05
	 	 Compensation for Losses
	  	 	5658	 
			
	 3.06
	 	 Survival
	  	 	5759	 
			
	Article IV	 	 CONDITIONS PRECEDENT TO CREDIT EXTENSIONS
	  	 	5759	 
			
	 4.01
	 	 Conditions of Initial Credit Extension
	  	 	5759	 
			
	 4.02
	 	 Conditions to all Credit Extensions
	  	 	5961	 
			
	Article V	 	 REPRESENTATIONS AND WARRANTIES
	  	 	6062	 
			
	 5.01
	 	 Existence, Qualification and Power
	  	 	6062	 
			
	 5.02
	 	 Authorization; No Contravention
	  	 	6062	 
			
	 5.03
	 	 Governmental Authorization; Other Consents
	  	 	6062	 
			
	 5.04
	 	 Binding Effect
	  	 	6163	 
			
	 5.05
	 	 Financial Statements; No Material Adverse Effect
	  	 	6163	 
			
	 5.06
	 	 Litigation
	  	 	6263	 
			
	 5.07
	 	 No Default
	  	 	6264	 
			
	 5.08
	 	 Ownership of Property
	  	 	6264	 
			
	 5.09
	 	 Environmental Compliance
	  	 	6264	 
			
	 5.10
	 	 Maintenance of Insurance
	  	 	6264	 
			
	 5.11
	 	 Taxes
	  	 	6364	 
			
	 5.12
	 	 ERISA Compliance
	  	 	6365	 
			
	 5.13
	 	 Margin Regulations; Investment Company Act
	  	 	6466	 
			
	 5.14
	 	 Disclosure
	  	 	6466	 
			
	 5.15
	 	 Solvency
	  	 	6466	 
			
	 5.16
	 	 Casualty, Etc
	  	 	6466	 
			
	 5.17
	 	 Sanctions Concerns and Anti-Corruption Laws
	  	 	6466	 
			
	 5.18
	 	 Responsible Officers
	  	 	6567	 
			
	 5.19
	 	 Subsidiaries; Equity Interests; Loan Parties
	  	 	6567	 
			
	 5.20
	 	 Collateral Representations
	  	 	6667	 
			
	 5.21
	 	 EEA Financial Institutions
	  	 	6769	 
			
	 5.22
	 	 Intellectual Property; Licenses, Etc
	  	 	6769	 
			
	 5.23
	 	 Labor Matters
	  	 	6769	 
			
	 5.24
	 	 Representations as to Foreign Obligors
	  	 	6769	 
			
	 5.25
	 	 Company Loan Documents
	  	 	6970	 
			
	Article VI	 	 AFFIRMATIVE COVENANTS
	  	 	6971	 
			
	 6.01
	 	 Financial Statements
	  	 	6971	 

  
 ii 

							
			
	 6.02
	 	 Certificates; Other Information
	  	 	7072	 
			
	 6.03
	 	 Notices
	  	 	7273	 
			
	 6.04
	 	 Payment of Obligations
	  	 	7274	 
			
	 6.05
	 	 Preservation of Existence, Etc
	  	 	7274	 
			
	 6.06
	 	 Maintenance of Properties
	  	 	7374	 
			
	 6.07
	 	 Maintenance of Insurance
	  	 	7374	 
			
	 6.08
	 	 Compliance with Laws
	  	 	7375	 
			
	 6.09
	 	 Books and Records
	  	 	7375	 
			
	 6.10
	 	 Inspection Rights
	  	 	7475	 
			
	 6.11
	 	 Use of Proceeds
	  	 	7476	 
			
	 6.12
	 	 Reserved
	  	 	7476	 
			
	 6.13
	 	 Covenant to Guarantee Obligations
	  	 	7476	 
			
	 6.14
	 	 Covenant to Give Security
	  	 	7576	 
			
	 6.15
	 	 Further Assurances
	  	 	7677	 
			
	 6.16
	 	 Reserved
	  	 	7678	 
			
	 6.17
	 	 Compliance with Environmental Laws
	  	 	7678	 
			
	 6.18
	 	 Preparation of Environmental Reports
	  	 	7678	 
			
	 6.19
	 	 Approvals and Authorizations
	  	 	7778	 
			
	 6.20
	 	 Anti-Corruption Laws
	  	 	7778	 
			
	 6.21
	 	 Post-Closing
ObligationsReserved
	  	 	7778	 
			
	 6.22
	 	 Pari Passu Ranking
	  	 	7779	 
			
	Article VII	 	 NEGATIVE COVENANTS
	  	 	7879	 
			
	 7.01
	 	 Liens
	  	 	7879	 
			
	 7.02
	 	 Indebtedness
	  	 	7981	 
			
	 7.03
	 	 Investments
	  	 	8182	 
			
	 7.04
	 	 Fundamental Changes
	  	 	8284	 
			
	 7.05
	 	 Dispositions
	  	 	8384	 
			
	 7.06
	 	 Restricted Payments
	  	 	8485	 
			
	 7.07
	 	 Change in Nature of Business
	  	 	8486	 
			
	 7.08
	 	 Transactions with Affiliates
	  	 	8486	 
			
	 7.09
	 	 Burdensome Agreements
	  	 	8586	 
			
	 7.10
	 	 Use of Proceeds
	  	 	8586	 
			
	 7.11
	 	 Financial Covenants
	  	 	8587	 

  
 iii 

							
			
	 7.12
	 	 Reserved
	  	 	8687	 
			
	 7.13
	 	 Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity
and Accounting Changes
	  	 	8687	 
			
	 7.14
	 	 Sale and Leaseback Transactions
	  	 	8687	 
			
	 7.15
	 	 Prepayments, Etc. of Indebtedness
	  	 	8687	 
			
	 7.16
	 	 Sanctions
	  	 	8687	 
			
	 7.17
	 	 Anti-Corruption Laws
	  	 	8688	 
			
	 7.18
	 	 AstroNova Aerospace, Inc
	  	 	8688	 
			
	Article VIII	 	 EVENTS OF DEFAULT AND REMEDIES
	  	 	8788	 
			
	 8.01
	 	 Events of Default
	  	 	8788	 
			
	 8.02
	 	 Remedies upon Event of Default
	  	 	8990	 
			
	 8.03
	 	 Application of Funds
	  	 	8990	 
			
	Article IX	 	 CONTINUING GUARANTY
	  	 	9091	 
			
	 9.01
	 	 Guaranty
	  	 	9091	 
			
	 9.02
	 	 Rights of Lender
	  	 	9192	 
			
	 9.03
	 	 Certain Waivers
	  	 	9192	 
			
	 9.04
	 	 Obligations Independent
	  	 	9293	 
			
	 9.05
	 	 Subrogation
	  	 	9293	 
			
	 9.06
	 	 Termination; Reinstatement
	  	 	9293	 
			
	 9.07
	 	 Stay of Acceleration
	  	 	9293	 
			
	 9.08
	 	 Condition of Borrower
	  	 	9293	 
			
	 9.09
	 	 Appointment of Borrower
	  	 	9394	 
			
	 9.10
	 	 Right of Contribution
	  	 	9394	 
			
	 9.11
	 	 Keepwell
	  	 	9394	 
			
	Article X	 	 MISCELLANEOUS
	  	 	9495	 
			
	 10.01
	 	 Amendments, Etc
	  	 	9495	 
			
	 10.02
	 	 Notices; Effectiveness; Electronic Communications
	  	 	9495	 
			
	 10.03
	 	 No Waiver; Cumulative Remedies; Enforcement
	  	 	9596	 
			
	 10.04
	 	 Expenses; Indemnity; Damage Waiver
	  	 	9596	 
			
	 10.05
	 	 Payments Set Aside
	  	 	9797	 
			
	 10.06
	 	 Successors and Assigns
	  	 	9798	 
			
	 10.07
	 	 Treatment of Certain Information; Confidentiality
	  	 	9798	 
			
	 10.08
	 	 Right of Setoff
	  	 	9899	 

  
 iv 

							
			
	 10.09
	 	 Interest Rate Limitation
	  	 	99100	 
			
	 10.10
	 	 Counterparts; Integration; Effectiveness
	  	 	99100	 
			
	 10.11
	 	 Survival of Representations and Warranties
	  	 	99100	 
			
	 10.12
	 	 Severability
	  	 	99100	 
			
	 10.13
	 	 Governing Law; Jurisdiction; Etc
	  	 	100101	 
			
	 10.14
	 	 Waiver of Jury Trial
	  	 	101102	 
			
	 10.15
	 	 Subordination
	  	 	101102	 
			
	 10.16
	 	 No Advisory or Fiduciary Responsibility
	  	 	102102	 
			
	 10.17
	 	 Electronic Execution
	  	 	102103	 
			
	 10.18
	 	 USA PATRIOT Act Notice
	  	 	102103	 
			
	 10.19
	 	 ENTIRE AGREEMENT
	  	 	103104	 
			
	 10.20
	 	 Judgment Currency
	  	 	103104	 
			
	 10.21
	 	 Acknowledgement and Consent to Bail-In of EEA Financial Institutions
	  	 	103104	 

  
 v 

 BORROWER PREPARED SCHEDULES 
  

			
	Schedule 1.01(b)	  	Responsible Officers
	Schedule 1.01(c)	  	Fiscal Quarters
	Schedule 5.10	  	Insurance
	Schedule 5.12	  	Pension Plans
	Schedule 5.19(a)	  	Subsidiaries, Joint Ventures, Partnerships and Other Equity Investments
	Schedule 5.19(b)	  	Loan Parties
	Schedule 5.20(b)	  	Intellectual Property
	Schedule 5.20(c)	  	Documents, Instrument, and Tangible Chattel Paper
	Schedule 5.20(d)(i)	  	Deposit Accounts & Securities Accounts
	Schedule 5.20(d)(ii)	  	Electronic Chattel Paper & Letter-of-Credit Rights
	Schedule 5.20(e)	  	Commercial Tort Claims
	Schedule 5.20(f)	  	Pledged Equity Interests
	Schedule 5.20(g)	  	Properties
	Schedule 6.14	  	Excluded Accounts; Foreign Accounts
	Schedule 7.01	  	Existing Liens
	Schedule 7.02	  	Existing Indebtedness
	Schedule 7.03	  	Existing Investments

 LENDER PREPARED SCHEDULES 
  

			
	Schedule 1.01(a)	  	Certain Addresses for Notices

 EXHIBITS 
  

			
	Exhibit A	  	Form of Compliance Certificate
	Exhibit B	  	Form of Joinder Agreement
	Exhibit C	  	Form of Loan Notice
	Exhibit D	  	Form of Permitted Acquisition Certificate
	Exhibit E	  	Form of Solvency Certificate
	Exhibit F	  	Form of Notice of Loan Prepayment

  
 vi 

 CREDIT AGREEMENT 

This CREDIT AGREEMENT is entered into as of February 28, 2017, as amended
on September 28, 2017 and November 30, 2017, among ASTRONOVA, INC., a Rhode Island corporation (the “U.S. Borrower” or the “Company”), the Guarantors (defined herein), ANI APS, a Danish private limited
liability company (the “Danish Borrower” and together with the U.S. Borrower, the “Borrowers” and each a “Borrower”), and BANK OF AMERICA, N.A., as the Lender. 

PRELIMINARY STATEMENTS: 

WHEREAS, the Loan Parties (as hereinafter defined) have requested that the Lender make
loansa revolving credit facility and other financial accommodations to the Loan Parties in an aggregate amount of up to
$19,200,000U.S. Borrower and a term loan facility to the Danish Borrower. 

WHEREAS, the Loan Parties have further requested that the Lender provide a term
loan facility to the U.S. Borrower. 
 WHEREAS, the Lender has agreed to make such loans and other financial accommodations to
the Loan Parties on the terms and subject to the conditions set forth herein. 
 NOW THEREFORE, in consideration of the mutual
covenants and agreements herein contained, the parties hereto covenant and agree as follows: 
 ARTICLE I 

DEFINITIONS AND ACCOUNTING TERMS 
 1.01
Defined Terms. 
 As used in this Agreement, the following terms shall have the meanings set forth below: 

“Acquisition” means the acquisition, whether through a single transaction or a series of related transactions, of (a) a
majority of the Voting Stock or other controlling ownership interest in another Person (including the purchase of an option, warrant or convertible or similar type security to acquire such a controlling interest at the time it becomes exercisable by
the holder thereof), whether by purchase of such equity or other ownership interest or upon the exercise of an option or warrant for, or conversion of securities into, such equity or other ownership interest, or (b) assets of another Person
which constitute all or substantially all of the assets of such Person or of a division, line of business or other business unit of such Person. 

“Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agreement” means
this Credit Agreement. 
 “Agreement Currency” has the meaning specified in Section 10.20. 

“Alternative Currency” means each of the following currencies: Euros, British Pounds, Canadian Dollars and Danish Krone,
together with each other currency (other than Dollars) that is approved in accordance with Section 1.09; provided that for each Alternative Currency, such requested currency is an Eligible Currency. 

  
 1 

 “Alternative Currency Equivalent” means, at any time, with respect to any amount
denominated in Dollars, the equivalent amount thereof in the applicable Alternative Currency as determined by the Lender at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date) for the purchase of such
Alternative Currency with Dollars. 
 “Alternative Currency Sublimit” means an amount equal to the lesser of the
CommitmentsRevolving Commitment and $10,000,000. The Alternative Currency Sublimit is part of, and not in addition to, the
CommitmentsRevolving Commitment. 
 “Applicable
Rate” means, for any day, the rate per annum set forth below opposite the applicable Level then in effect (based on the Consolidated Leverage Ratio): 

Applicable Rate 
  

											
	 Level
	  	 Consolidated

Leverage Ratio
	  	 Eurocurrency

Rate
	  	 Letter of

Credit Fees
	  	 Base Rate
	  	 Commitment Fee

	 1
	  	< 1.00:1	  	100 bps	  	100 bps	  	0 bps	  	25 bps
	 2
	  	 3 1.00:1 but

< 2.00:1
	  	125 bps	  	125 bps	  	25 bps	  	25 bps
	 3
	  	> 2.00:1	  	150 bps	  	150 bps	  	50 bps	  	25 bps

 Any increase or decrease in the Applicable Rate resulting from a change in the Consolidated Leverage Ratio shall become
effective as of the first Business Day immediately following the date a Compliance Certificate is delivered pursuant to Section 6.02(a); provided, however, that if a Compliance Certificate is not delivered when due in accordance
with such Section, then, Pricing Level 3 shall apply unless otherwise agreed to by the Lender, in each case as of the first Business Day after the date on which such Compliance Certificate was required to have been delivered and in each case shall
remain in effect until the first Business Day following the date on which such Compliance Certificate is delivered. 
 Notwithstanding anything to the
contrary contained in this definition, (a) the determination of the Applicable Rate for any period shall be subject to the provisions of Section 2.10(b) and (b) the initial Applicable Rate shall be set forth in Level
21 until the first Business Day immediately following the date a Compliance Certificate is delivered to the
Lender pursuant to Section 6.02(a) for the first fiscal quarterFiscal Quarter end to occur following the
ClosingSecond Amendment Effective Date to the Lender. Any adjustment in the Applicable Rate shall be applicable to all Credit Extensions then existing or
subsequently made or issued. 
 “Applicable Time” means, with respect to any borrowings and payments in any Alternative
Currency, the local time in the place of settlement for such Alternative Currency as may be determined by the Lender to be necessary for timely settlement on the relevant date in accordance with normal banking procedures in the place of payment.

 “Approved Fund” means, any Person (other than a natural person) that is engaged in making, purchasing, holding or
investing in bank loans and similar extensions of credit in the ordinary course of its business and that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that
administers or manages a Lender. 

  
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 “Attributable Indebtedness” means, on any date, (a) in respect of any
Capitalized Lease of any Person, the capitalized amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, and (b) in respect of any Synthetic Lease Obligation, the capitalized amount
of the remaining lease or similar payments under the relevant lease or other applicable agreement or instrument that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease or other agreement or
instrument were accounted for as a Capitalized Lease. 
 “Audited Financial Statements” means the audited Consolidated
balance sheet of the Company and its Subsidiaries for each of the fiscal years ended January 31, 2014, January 31, 2015 and January 31, 2016, and the related Consolidated statements of income or operations,
shareholders’ equity and cash flows for such fiscal year of the Company and its Subsidiaries, including the notes thereto. 

“Authorization to Share Insurance Information” means the authorization in form and substance satisfactory to the Lender (or
such other form as required by each of the Loan Party’s insurance companies). 
 “Availability Period” means in
respect of the Revolving Facility, the period from and including the Closing Date to the earliest of (i) the Maturity Date for the Revolving Facility, (ii) the date of termination of the Revolving
CommitmentsCommitment pursuant to Section 2.06, and (iii) the date of termination of the Revolving
Commitment of the Lender to make Revolving Loans and L/C Credit Extensions pursuant to Section 8.02. 
 “Bail-In
Action” means the exercise of any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing Article 55 of Directive 2014/59/EU of the
European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule. 

“Bank of America” means Bank of America, N.A. and its successors. 

“Base Rate” means for any day a fluctuating rate of interest per annum equal to the highest of (a) the Federal Funds
Rate plus one-half of one percent (0.50%), (b) the rate of interest in effect for such day as publicly announced from time to time by Bank of America as its “prime rate,” and (c) the Eurocurrency Rate plus one percent (1.00%);
and if the Base Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. The “prime rate” is a rate set by Bank of America based upon various factors including Bank of America’s costs and desired
return, general economic conditions and other factors, and is used as a reference point for pricing some loans, which may be priced at, above, or below such announced rate. Any change in such prime rate announced by Bank of America shall take effect
at the opening of business on the day specified in the public announcement of such change. 
 “Base Rate Loan” means a
Revolving Loan or a U.S. Term Loan that bears interest based on the Base Rate. All Base Rate Loans are only available to the U.S. Borrower and
Loansshall be denominated in Dollars. 

“Borrower” and “Borrowers” each has the meaning specified in the introductory paragraph hereto. 

“Borrowing” means a Revolving Borrowing, a Danish Term Borrowing
or a U.S. Term Borrowing, as the context may require. 

  
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 “Business Day” means any day other than a Saturday, Sunday or other day on which
commercial banks are authorized to close under the Laws of, or are in fact closed in, the state where the Lender’s Office is located and: 

(a) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated in Dollars, any fundings,
disbursements, settlements and payments in Dollars in respect of any such Eurocurrency Rate Loan, or any other dealings in Dollars to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan, means any such day that is
also a London Banking Day; 
 (b) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan
denominated in Euro, any fundings, disbursements, settlements and payments in Euro in respect of any such Eurocurrency Rate Loan, or any other dealings in Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate
Loan, means a TARGET Day; 
 (c) if such day relates to any interest rate settings as to a Eurocurrency Rate Loan denominated
in a currency other than Dollars or Euro, means any such day on which dealings in deposits in the relevant currency are conducted by and between banks in the London or other applicable offshore interbank market for such currency; and 

(d) if such day relates to any fundings, disbursements, settlements and payments in a currency other than Dollars or Euro in
respect of a Eurocurrency Rate Loan denominated in a currency other than Dollars or Euro, or any other dealings in any currency other than Dollars or Euro to be carried out pursuant to this Agreement in respect of any such Eurocurrency Rate Loan
(other than any interest rate settings), means any such day on which banks are open for foreign exchange business in the principal financial center of the country of such currency. 

“Canadian Dollar” and “CAD” means the lawful currency of Canada. 

“Capital Expenditures” means, with respect to any Person for any period, any expenditure in respect of the purchase or other
acquisition of any fixed or capital asset (excluding normal replacements and maintenance which are properly charged to current operations, and excluding Acquisitions). 

“Capitalized Leases” means all leases that have been or should be, in accordance with GAAP, recorded as capitalized leases.

 “Cash Collateralize” means, to pledge and deposit with or deliver to the Lender, as collateral for L/C Obligations or
the Obligations, (a) cash or deposit account balances, (b) backstop letters of credit entered into on terms, from issuers and in amounts satisfactory to the Lender, and/or (c) if the Lender shall agree, in its sole discretion, other
credit support, in each case, in Dollars and pursuant to documentation in form and substance reasonably satisfactory to the Lender. “Cash Collateral” shall have a meaning correlative to the foregoing and shall include the proceeds
of such cash collateral and other credit support. 
 “Cash Equivalents” means any of the following types of Investments, to
the extent owned by the Company or any of its Subsidiaries free and clear of all Liens (other than Permitted Liens): 
 (a)
readily marketable obligations issued or directly and fully guaranteed or insured by the United States or any agency or instrumentality thereof having maturities of not more than twelve (12) months from the date of acquisition thereof; provided
that the full faith and credit of the United States is pledged in support thereof; 

  
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 (b) time deposits with, or insured certificates of deposit or bankers’
acceptances of, any commercial bank that (i) (A) is the Lender or (B) is organized under the laws of the United States, any state thereof or the District of Columbia or is the principal banking subsidiary of a bank holding company
organized under the laws of the United States, any state thereof or the District of Columbia, and is a member of the Federal Reserve System, (ii) issues (or the parent of which issues) commercial paper rated as described in clause (c) of
this definition and (iii) has combined capital and surplus of at least $1,000,000,000, in each case with maturities of not more than ninety (90) days from the date of acquisition thereof; 

(c) commercial paper issued by any Person organized under the laws of any state of the United States and rated at least
“Prime-1” (or the then equivalent grade) by Moody’s or at least “A-1” (or the then equivalent grade) by S&P, in each case with maturities of not more than one hundred eighty (180) days from the date of acquisition
thereof; and 
 (d) Investments, classified in accordance with GAAP as current assets of the Company or any of its
Subsidiaries, in money market investment programs registered under the Investment Company Act of 1940, which are administered by financial institutions that have the highest rating obtainable from either Moody’s or S&P, and the portfolios
of which are limited solely to Investments of the character, quality and maturity described in clauses (a), (b) and (c) of this definition. 

“Cash Management Agreement” means any agreement that is not prohibited by the terms hereof to provide treasury or cash
management services, including deposit accounts, overnight draft, credit cards, debit cards, p-cards (including purchasing cards and commercial cards), funds transfer, automated clearinghouse, zero balance accounts, returned check concentration,
controlled disbursement, lockbox, account reconciliation and reporting and trade finance services and other cash management services. 

“CFC” means a Person that is a controlled foreign corporation under Section 957 of the Code. 

“Change in Law” means the occurrence, after the Closing Date, of any of the following: (a) the adoption or taking effect
of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation or treaty or in the administration, interpretation, implementation or application thereof by any Governmental Authority or (c) the making or issuance of
any request, rule, guideline or directive (whether or not having the force of law) by any Governmental Authority; provided that notwithstanding anything herein to the contrary, (i) the Dodd-Frank Wall Street Reform and Consumer
Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and (ii) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on
Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted,
adopted or issued. 
 “Change of Control” means an event or series of events by which 

(a) any “person” or “group” (as such terms are used in Sections 13(d) and 14(d) of the Securities
Exchange Act of 1934, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or administrator of any such plan) becomes the “beneficial
owner” (as defined in Rules 13d-3 and 13d-5 under the Securities Exchange Act of 1934, except that a person or group shall be deemed to have “beneficial ownership” of all securities that such person or group has the right to acquire,
whether such right is exercisable immediately or only after the passage of time (such right, an “option right”)), directly or indirectly, of thirty-five percent (35%) or more of the Equity Interests

  
 5 

 
of the Company entitled to vote for members of the board of directors or equivalent governing body of the Company on a fully-diluted basis (and taking into account all such securities that such
“person” or “group” has the right to acquire pursuant to any option right); or 
 (b) during any period
of twelve (12) consecutive months, a majority of the members of the board of directors or other equivalent governing body of the Company cease to be composed of individuals (i) who were members of that board or equivalent governing body on
the first day of such period, (ii) whose election or nomination to that board or equivalent governing body was approved by individuals referred to in clause (i) above constituting at the time of such election or nomination at least a
majority of that board or equivalent governing body or (iii) whose election or nomination to that board or other equivalent governing body was approved by individuals referred to in clauses (i) and (ii) above constituting at the time
of such election or nomination at least a majority of that board or equivalent governing body. 
 “Closing Date” means
the date hereofFebruary 28, 2017. 
 “Code”
means the Internal Revenue Code of 1986. 
 “Collateral” means all of the “Collateral” referred to in the
Collateral Documents and all of the other property that is or is intended under the terms of the Collateral Documents to be subject to Liens in favor of the Lender for the benefit of the Secured Parties. 

“Collateral Documents” means, collectively, the Security Agreement, each Joinder Agreement, each of the collateral
assignments, security agreements, pledge agreements or other similar agreements delivered to the Lender pursuant to Section 6.13, and each of the other agreements, instruments or documents that creates or purports to create a Lien in favor of
the Lender for the benefit of the Secured Parties. 
 “Commitment” means
either of the Term CommitmentCommitments or the Revolving Commitment, as the context may require. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time,
and any successor statute. 
 “Company” has the meaning specified in the introductory paragraph hereto. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit A. 

“Connection Income Taxes” means Other Connection Taxes that are imposed or measured by net income (however denominated) or
that are franchise taxes or branch profits taxes. 
 “Consolidated” means, when used with reference to financial statements
or financial statement items of the Company and its Subsidiaries or any other Person, such statements or items on a consolidated basis in accordance with the consolidation principles of GAAP. 

“Consolidated Capital Expenditures” means, for any period, for the Company and its Subsidiaries on a Consolidated basis, all
Capital Expenditures but excluding expenditures to the extent made with the proceeds of any Involuntary Disposition used to purchase property that is useful in the business of the Company and its Subsidiaries. 

  
 6 

 “Consolidated EBITDA” means, for any period, the sum of the following determined
on a Consolidated basis, without duplication, for the Company and its Subsidiaries in accordance with GAAP, (a) Consolidated Net Income for the most recently completed Measurement Period plus (b) the following to the extent deducted
in calculating such Consolidated Net Income (without duplication): (i) Consolidated Interest Charges, (ii) the provision for federal, state, local and foreign income taxes payable, (iii) depreciation and amortization expense and
(iv) non-cash charges and losses (excluding any such non-cash charges or losses to the extent (A) there were cash charges with respect to such charges and losses in past accounting periods or (B) there is a reasonable expectation that
there will be cash charges with respect to such charges and losses in future accounting periods) and (iv) in connection with any Permitted Acquisition (including without limitation the Danish Acquisition), all reasonable transaction fees,
costs, charges and expenses incurred before or within 120 days following the consummation of such acquisition in the aggregate amount not to exceed $1,000,000 per four Fiscal Quarter period, less (c) without duplication and to the extent
reflected as a gain or otherwise included in the calculation of Consolidated Net Income for such period (i) non-cash gains (excluding any such non-cash gains to the extent (A) there were cash gains with respect to such gains in past
accounting periods or (B) there is a reasonable expectation that there will be cash gains with respect to such gains in future accounting periods). 

“Consolidated Fixed Charge Coverage Ratio” means, as of any date of determination, the ratio of
(a) (i) Consolidated EBITDA, less (ii) the aggregate amount of all non-financed cash Capital Expenditures, less (iii) Restricted Payments paid in cash, less (iv) the aggregate amount of all federal,
state, local and foreign income taxes paid in cash to (b) the sum of (i) Consolidated Interest Charges to the extent paid in cash, and (ii) the aggregate principal amount of all redemptions or similar acquisitions for value of
outstanding debt for borrowed money or regularly scheduled principal payments on debt for borrowed money, but excluding any such payments to the extent refinanced through the incurrence of additional Indebtedness otherwise expressly permitted under
Section 7.02, in each case, of or by the Company and its Subsidiaries for the most recently completed Measurement Period. 

“Consolidated Funded Indebtedness” means, as of any date of determination, for the Company and its Subsidiaries on a
Consolidated basis, the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder) and all obligations evidenced by bonds, debentures, notes, loan
agreements or other similar instruments; (b) all purchase money Indebtedness; (c) the maximum amount available to be drawn under issued and outstanding letters of credit (including standby and commercial), bankers’ acceptances, bank
guaranties, surety bonds and similar instruments; (d) all obligations in respect of the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); (e) all Attributable
Indebtedness; (f) all obligations to purchase, redeem, retire, defease or otherwise make any payment prior to the Maturity Date in respect of any Equity Interests or any warrant, right or option to acquire such Equity Interest, valued, in the
case of a redeemable preferred interest, at the greater of its voluntary or involuntary liquidation preference plus accrued and unpaid dividends; (g) without duplication, all Guarantees with respect to outstanding Indebtedness of the
types specified in clauses (a) through (f) above of Persons other than the Company or any Subsidiary; and (h) all Indebtedness of the types referred to in clauses (a) through (g) above of any partnership or joint venture
(other than a joint venture that is itself a corporation or limited liability company) in which the Company or a Subsidiary is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse to the Company or such
Subsidiary. 
 “Consolidated Interest Charges” means, for any Measurement Period, the sum of (a) all interest, premium
payments, debt discount, fees, charges and related expenses in connection with borrowed money (including capitalized interest) or in connection with the deferred purchase price of assets, in each case to the extent treated as interest in accordance
with GAAP, (b) all interest paid or payable with respect to discontinued operations and (c) the portion of rent expense under Capitalized Leases that is treated as interest in accordance with GAAP, in each case, of or by the Company and
its Subsidiaries on a Consolidated basis for the most recently completed Measurement Period. 

  
 7 

 “Consolidated Leverage Ratio” means, as of any date of determination, the ratio
of (a) Consolidated Funded Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Measurement Period. 

“Consolidated Net Income” means, at any date of determination, the net income (or loss) of the Company and its Subsidiaries
on a Consolidated basis for the most recently completed Measurement Period; provided that Consolidated Net Income shall exclude (a) extraordinary gains and extraordinary losses and charges for such Measurement Period, (b) the net
income of any Subsidiary during such Measurement Period to the extent that the declaration or payment of dividends or similar distributions by such Subsidiary of such income is not permitted by operation of the terms of its Organization Documents or
any agreement, instrument or Law applicable to such Subsidiary during such Measurement Period, except that the Company’s equity in any net loss of any such Subsidiary for such Measurement Period shall be included in determining Consolidated Net
Income, and (c) any income (or loss) for such Measurement Period of any Person if such Person is not a Subsidiary, except that the Company’s equity in the net income of any such Person for such Measurement Period shall be included in
Consolidated Net Income up to the aggregate amount of cash actually distributed by such Person during such Measurement Period to the Borrowers or a Subsidiary as a dividend or other distribution (and in the case of a dividend or other distribution
to a Subsidiary, such Subsidiary is not precluded from further distributing such amount as described in clause (b) of this proviso). 

“Contractual Obligation” means, as to any Person, any provision of any security issued by such Person or of any agreement,
instrument or other undertaking to which such Person is a party or by which it or any of its property is bound. 

“Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management or
policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative thereto. Without limiting the generality of the
foregoing, a Person shall be deemed to be Controlled by another Person if such other Person possesses, directly or indirectly, power to vote ten percent (10%) or more of the securities having ordinary voting power for the election of directors,
managing general partners or the equivalent. 
 “Cost of Acquisition” means, with respect to any Acquisition, as at the
date of entering into any agreement therefor, the sum of the following (without duplication): (a) the value of the Equity Interests of the Company or any Subsidiary to be transferred in connection with such Acquisition, (b) the amount of
any cash and fair market value of other property (excluding property described in clause (a) and the unpaid principal amount of any debt instrument) given as consideration in connection with such Acquisition, (c) the amount (determined by
using the face amount or the amount payable at maturity, whichever is greater) of any Indebtedness incurred, assumed or acquired by a Borrower or any Subsidiary in connection with such Acquisition, (d) the amounts of all additional purchase
price amounts in the form of earnouts and other contingent obligations that should be recorded on the financial statements of the Company and its Subsidiaries in accordance with GAAP in connection with such Acquisition, (e) the amounts of all
amounts paid in respect of covenants not to compete and consulting agreements that should be recorded on the financial statements of the Company and its Subsidiaries in accordance with GAAP, and other affiliated contracts in connection with such
Acquisition, and (f) the aggregate fair market value of all other consideration given by the Company or any Subsidiary in connection with such Acquisition. For purposes of determining the Cost of Acquisition for any transaction, the Equity
Interests of the Company or any Subsidiary shall be valued in accordance with GAAP. 

  
 8 

 “Credit Extension” means each of the following: (a) a Borrowing and
(b) an L/C Credit Extension. 
 “Danish Acquisition” means the Acquisition of the Danish Target by the Danish Borrower
pursuant to the Share Purchase Agreement. 
 “Danish Borrower” has the meaning specified in the introductory paragraph
hereto. 
 “Danish Krone” means the lawful currency of Denmark. 

“Danish Target” means Trojanlabel ApS, a Danish private limited liability company. 

“Danish Term Borrowing” means a borrowing consisting of simultaneous Danish
Term Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by the Lender pursuant to Section 2.01(a)(i) or Section 2.13, as the context may require. 

“Danish Term Commitment” means the Lender’s obligation to make the
Danish Term Loan to the Danish Borrower pursuant to Section 2.01(a)(i) or pursuant to an incremental commitment under Section 2.13, as the context may require. The Danish Term Commitment on the Closing Date was $9,200,000 and on the Second
Amendment Effective Date is $-0-. 
 “Danish Term Facility” means, at
any time, (a) on or prior to the Closing Date, the aggregate amount of the Danish Term Commitment at such time and (b) thereafter, the aggregate principal amount of the Danish Term Loans outstanding at such time. 

“Danish Term Loan” means the advance made by the Lender under the Danish
Term Facility pursuant to Section 2.01(a)(i) and any advance of a Danish Term Loan made pursuant to Section 2.13. 
 “Debt
Issuance” means the issuance by any Loan Party or any Subsidiary of any Indebtedness other than Indebtedness permitted under Section 7.02(a) through (m). 

“Debtor Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy,
assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Default Rate” means (a) with respect to any Obligation for
which a rate is specified, a rate per annum equal to two percent (2%) in excess of the rate otherwise applicable thereto and (b) with respect to any Obligation for which a rate is not specified or available, a rate per annum equal to the
Base Rate plus the Applicable Rate for Revolving Loans that are Base Rate Loans plus two percent (2%), in each case, to the fullest extent permitted by applicable Law. 

“Designated Lender” shall have the meaning set forth in Section 3.02(b). 

  
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 “Designated Jurisdiction” means any country or territory to the extent that such
country or territory is the subject of any Sanction. 
 “Disposition” or “Dispose” means the sale,
transfer, license, lease or other disposition (including any Sale and Leaseback Transaction) of any property by the Company or any Subsidiary (or the granting of any option or other right to do any of the foregoing), including any sale, assignment,
transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Disqualified Equity Interest” means any Equity Interest that (a) by its terms (or by the terms of any security into
which it is convertible or for which it is exchangeable), or upon the happening of any event, matures (excluding any maturity as the result of an optional redemption by the issuer thereof) or is mandatorily redeemable (other than solely for Equity
Interests that do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests) pursuant to a sinking fund obligation or otherwise, or is redeemable at the option of the holder thereof (other than
solely for Equity Interests that do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests), in whole or in part, on or prior to the date that is 181 days after the Maturity Date, (b) is
convertible into or exchangeable (unless at the sole option of the issuer thereof) for (i) debt securities or other Indebtedness or (ii) any Equity Interest referred to in clause (a) above (other than solely for Equity Interests that
do not constitute Disqualified Equity Interests and cash in lieu of fractional shares of such Equity Interests), in each case at any time on or prior to the date that is 180 days after the Maturity Date, (c) contains any repurchase obligation
that may come into effect prior to payment in full of all Obligations, (d) requires cash dividend payments (other than distributions permitted pursuant to Section 7.06(e)) prior to the date that is 181 days after the Maturity Date;
provided, however, that (i) an Equity Interest in any Person that would not constitute a Disqualified Equity Interest but for terms thereof giving holders thereof the right to require such Person to redeem or purchase such Equity
Interest upon the occurrence of an “asset sale” or a “change of control” (or similar event, however denominated) shall not constitute a Disqualified Equity Interest if any such requirement becomes operative only after repayment
in full of all the Loans and all other Obligations that are accrued and payable, the cancellation, expiration or Cash Collateralization of all Letters of Credit and the termination or expiration of the Commitments and (ii) an Equity Interest in
any Person that is issued to any employee or to any plan for the benefit of employees or by any such plan to such employees shall not constitute a Disqualified Equity Interest solely because it may be required to be repurchased by such Person or any
of its subsidiaries in order to satisfy applicable statutory or regulatory obligations or as a result of such employee’s termination, death or disability. 

“Dollar” and “$” mean lawful money of the United States. 

“Dollar Equivalent” means, at any time, (a) with respect to any amount denominated in Dollars, such amount, and
(b) with respect to any amount denominated in any Alternative Currency, the equivalent amount thereof in Dollars as determined by the Lender at such time on the basis of the Spot Rate (determined in respect of the most recent Revaluation Date)
for the purchase of Dollars with such Alternative Currency. 
 “Domestic Guaranteed Obligations” has the meaning set forth
in Section 9.01(a). 
 “Domestic Guarantors” means (i) as of the Closing Date, each of the Domestic Subsidiaries
of the Company, if any, set forth on signature pages to this Agreement under the heading “Domestic Guarantor”, (ii) each other Domestic Subsidiary as may from time to time become a party to this Agreement pursuant to
Section 6.13, (iii) the U.S. Borrower with respect to the Danish Term Loan and any other Foreign Subsidiary Secured Obligations, and (iv) the U.S. Borrower with respect to
Secured Obligations owing by any Loan Party under Secured Cash Management Agreements and Secured Hedge Agreements and any Swap Obligation of a Specified Loan Party (determined before giving effect to Sections 9.01 and 9.11) under the Guaranty . 

  
 10 

 “Domestic Guaranty” means, collectively, the Guarantee made by the Domestic
Guarantors under Article IX in favor of the Secured Parties with respect to the Domestic Guaranteed Obligations, together with each other guaranty with respect to the Domestic Guaranteed Obligations delivered pursuant to Section 6.13. 

“Domestic Subsidiary” means any direct or indirect Subsidiary of the Company that is organized under the laws of any
political subdivision of the United States. 
 “EEA Financial Institution” means (a) any credit institution or
investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of
this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its
parent; 
 “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway.

 “EEA Resolution Authority” means any public administrative authority or any person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Currency” means any lawful currency other than Dollars that is readily available, freely transferable and
convertible into Dollars in the international interbank market available to the Lender in such market and as to which a Dollar Equivalent may be readily calculated. If, after the designation by the Lender of any currency as an Alternative Currency,
any change in currency controls or exchange regulations or any change in the national or international financial, political or economic conditions are imposed in the country in which such currency is issued, result in, in the reasonable opinion of
the Lender (in the case of any Loans or Letters of Credit to be denominated in an Alternative Currency), (a) such currency no longer being readily available, freely transferable and convertible into Dollars, (b) a Dollar Equivalent is no
longer readily calculable with respect to such currency, (c) providing such currency is impracticable for the Lender or (d) no longer a currency in which the Lender is willing to make such Credit Extensions (each of (a), (b), (c), and
(d) a “Disqualifying Event”), then the Lender shall promptly notify the Borrowers, and such country’s currency shall no longer be an Alternative Currency until such time as the Disqualifying Event(s) no longer exist.
Within, five (5) Business Days after receipt of such notice from the Lender, the Borrowers shall repay all Loans in such currency to which the Disqualifying Event applies or convert such Loans into the Dollar Equivalent of Loans in Dollars,
subject to the other terms contained herein. 
 “Environmental Laws” means any and all federal, state, local, and foreign
statutes, laws, regulations, ordinances, rules, judgments, orders, decrees, permits, concessions, grants, franchises, licenses, agreements or governmental restrictions relating to pollution and the protection of the environment or the release of any
materials into the environment, including those related to hazardous substances or wastes, air emissions and discharges to waste or public systems. 

  
 11 

 “Environmental Liability” means any liability, contingent or otherwise
(including any liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the Borrowers, any other Loan Party or any of their respective Subsidiaries directly or indirectly resulting from or based upon
(a) violation of any Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or threatened release
of any Hazardous Materials into the environment or (e) any contract, agreement or other consensual arrangement pursuant to which liability is assumed or imposed with respect to any of the foregoing. 

“Environmental Permit” means any permit, approval, identification number, license or other authorization required under any
Environmental Law. 
 “Equity Interests” means, with respect to any Person, all of the shares of capital stock of (or other
ownership or profit interests in) such Person, all of the warrants, options or other rights for the purchase or acquisition from such Person of shares of capital stock of (or other ownership or profit interests in) such Person, all of the securities
convertible into or exchangeable for shares of capital stock of (or other ownership or profit interests in) such Person or warrants, rights or options for the purchase or acquisition from such Person of such shares (or such other interests), and all
of the other ownership or profit interests in such Person (including partnership, member or trust interests therein), whether voting or nonvoting, and whether or not such shares, warrants, options, rights or other interests are outstanding on any
date of determination. 
 “Equity Issuance” means, any issuance by any Loan Party or any Subsidiary to any Person of its
Equity Interests, other than (a) any issuance of its Equity Interests pursuant to the exercise of options or warrants, (b) any issuance of its Equity Interests pursuant to the conversion of any debt securities to equity or the conversion
of any class of equity securities to any other class of equity securities, (c) any issuance of options or warrants relating to its Equity Interests, and (d) any issuance by a Loan Party of its Equity Interests as consideration for a
Permitted Acquisition. The term “Equity Issuance” shall not be deemed to include any Disposition or any Debt Issuance. 

“ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrowers within
the meaning of Section 414(b) or (c) of the Code (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) the withdrawal of a Borrower or any
ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which such entity was a “substantial employer” as defined in Section 4001(a)(2) of ERISA or a cessation of operations that is treated as
such a withdrawal under Section 4062(e) of ERISA; (c) a complete or partial withdrawal by a Borrower or any ERISA Affiliate from a Multiemployer Plan or notification that a Multiemployer Plan is in reorganization; (d) the filing of a
notice of intent to terminate, the treatment of a Pension Plan amendment as a termination under Section 4041 or 4041A of ERISA; (e) the institution by the PBGC of proceedings to terminate a Pension Plan; (f) any event or condition
which constitutes grounds under Section 4042 of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan; (g) the determination that any Pension Plan is considered an at-risk plan or a plan in
endangered or critical status within the meaning of Sections 430, 431 and 432 of the Code or Sections 303, 304 and 305 of ERISA; (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent
under Section 4007 of ERISA, upon a Borrower or any ERISA Affiliate or (g) a failure by a Borrower or any ERISA Affiliate to meet all applicable requirements under the Pension Funding Rules in respect of a Pension Plan, whether or not
waived, or the failure by a Borrower or any ERISA Affiliate to make any required contribution to a Multiemployer Plan. 

  
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 “EU Bail-In Legislation Schedule” means the EU Bail-In Legislation Schedule
published by the Loan Market Association (or any successor person), as in effect from time to time. 
 “Euro” and
“€” mean the single currency of the Participating Member States. 
 “Eurocurrency Rate” means: 

(a) for any Interest Period, with respect to any Credit Extension: 

(i) denominated in a LIBOR Quoted Currency, the rate per annum equal to the London Interbank Offered Rate
(“LIBOR”), or a comparable or successor rate which rate is approved by the Lender, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by
the Lender from time to time) (in such case, the “LIBOR Rate”) at or about 11:00 a.m. (London time) on the Rate Determination Date, for deposits in the relevant currency, with a term equivalent to such Interest Period; 

(ii) denominated in Canadian Dollars, the rate per annum equal to the Canadian Dollar Offered Rate (“CDOR”),
or a comparable or successor rate which rate is approved by the Lender, as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by the Lender from time to time)
(in such case, the “CDOR Rate”) at or about 10:00 a.m. (Toronto, Ontario time) on the first day of such Interest Period (or such other day as is generally treated as the rate fixing day by market practice in such interbank market,
as determined by the Lender) or if such day is not a Business Day, then on the immediately preceding Business Day) with a term equivalent to such Interest Period; 

(iii) with respect to any Credit Extension denominated in any other Non-LIBOR Quoted Currency, the rate per annum as designated
with respect to such Alternative Currency at the time such Alternative Currency is approved by the Lender and the relevant Lenders pursuant to Section 1.09(a); and 

(b) for any interest rate calculation with respect to a Base Rate Loan on any date, the rate per annum equal to the LIBOR Rate,
at or about 11:00 a.m. (London time) determined two (2) Business Days prior to such date for Dollar deposits being delivered in the London interbank market for deposits in Dollars with a term of one (1) month commencing that day; 

provided that (i) to the extent a comparable or successor rate is approved by the Lender in connection with any rate set forth in
this definition, the approved rate shall be applied in a manner consistent with market practice; provided, further that to the extent such market practice is not administratively feasible for the Lender, such approved rate shall be
applied in a manner as otherwise reasonably determined by the Lender and (ii) if the Eurocurrency Rate shall be less than zero, such rate shall be deemed zero for purposes of this Agreement. 

“Eurocurrency Rate Loan” means a Loan that bears interest at a rate based on clause (a) of the definition of
“Eurocurrency Rate”. Eurocurrency Rate Loans may be denominated in Dollars or in an Alternative Currency. All Loans denominated in an Alternative Currency must be Eurocurrency Rate Loans. 

  
 13 

 “Event of Default” has the meaning specified in Section 8.01. 

“Excluded Accounts” has the meaning specified in Section 6.14(d). 

“Excluded Property” means, with respect to any Loan Party, (a) any owned or leased real property, (b) unless
requested by the Lender, any Intellectual Property for which a perfected Lien thereon is not effected either by filing of a Uniform Commercial Code financing statement or by appropriate evidence of such Lien being filed in either the United States
Copyright Office or the United States Patent and Trademark Office, (c) unless requested by Lender, any personal property (other than personal property described in clause (b) above) for which the attachment or perfection of a Lien thereon
is not governed by the Uniform Commercial Code, and (d) the Equity Interests of any Foreign Subsidiary of any Loan Party to the extent not required to be pledged to secure the Secured Obligations pursuant to the Collateral Documents. 

“Excluded Swap Obligation” means, with respect to any Loan Party, any Swap Obligation if, and to the extent that, all or a
portion of the Guaranty of such Loan Party of, or the grant by such Loan Party of a Lien to secure, such Swap Obligation (or any Guarantee thereof) is or becomes illegal under the Commodity Exchange Act or any rule, regulation or order of the
Commodity Futures Trading Commission (or the application or official interpretation thereof) by virtue of such Loan Party’s failure for any reason to constitute an “eligible contract participant” as defined in the Commodity Exchange
Act (determined after giving effect to Section 9.11 and any other “keepwell, support or other agreement” for the benefit of such Loan Party and any and all guarantees of such Loan Party’s Swap Obligations by other Loan Parties)
at the time the Guaranty of such Loan Party, or grant by such Loan Party of a Lien, becomes effective with respect to such Swap Obligation. If a Swap Obligation arises under a Master Agreement governing more than one Swap Contract, such exclusion
shall apply only to the portion of such Swap Obligation that is attributable to Swap Contracts for which such Guaranty or Lien is or becomes excluded in accordance with the first sentence of this definition. 

“Excluded Taxes” means any of the following Taxes, imposed on or with respect to the Lender or required to be withheld or
deducted from a payment to the Lender, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of the Lender being organized under the laws of,
or having its principal office or its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) any U.S. federal withholding Taxes imposed
on amounts payable to or for the account of the Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) the Lender acquires such interest in the Loan or Commitment or
(ii) the Lender changes its lending office, except, in each case, to the extent that, pursuant to Section 3.01, amounts with respect to such Taxes were payable to the Lender immediately before it changed its lending office, or
(c) Taxes attributable to the Lender’s failure to comply with Section 3.01. 
 “Existing Credit Agreement”
means the Three-Year Revolving Line of Credit Agreement, dated September 5, 2014, by and between the Company and Wells Fargo Bank. 

“Extraordinary Receipt” means any cash received by or paid to or for the account of any Person not in the ordinary course of
business constituting proceeds of insurance (other than proceeds of business interruption insurance to the extent such proceeds constitute compensation for lost earnings and proceeds of Involuntary Dispositions), indemnity payments and any purchase
price adjustments (to the extent that such indemnity payments or purchase price adjustments are received in connection with an acquisition 

  
 14 

 
that was financed with the proceeds of any Loans, including without limitation the Danish Acquisition); provided, however, that an Extraordinary Receipt shall not include (a) cash
receipts from proceeds of insurance, indemnity payments or purchase price adjustments to the extent that such proceeds, awards or payments are received by any Person in respect of any third party claim against such Person and applied to pay (or to
reimburse such Person for its prior payment of) such claim and the costs and expenses of such Person with respect thereto or (b) with respect to proceeds of insurance, to the extent that the amounts so received are applied within one hundred
eighty (180) days of receipt of such amounts for the purpose of repairing or remedying the condition giving rise to the claim for insurance or to replace the affected property or assets with assets used or useful in the business of such Person.

 “Facility” means the Danish Term Facility, the U.S. Term
Facility or the Revolving Facility, as the context may require. 
 “Facility Office” means the office designated by the
Lender through which the Lender will perform its obligations under this Agreement. 
 “Facility Termination Date” means the
date as of which all of the following shall have occurred: (a) all of the Commitments have terminated, (b) all Obligations have been paid in full (other than contingent
indemnification obligations), and (c) all Letters of Credit have terminated or expired (other than Letters of Credit as to which other arrangements with respect thereto satisfactory to the Lender shall have been made). 

“FASB ASC” means the Accounting Standards Codification of the Financial Accounting Standards Board. 

“Federal Funds Rate” means, for any day, the rate per annum equal to the weighted average of the rates on overnight federal
funds transactions with members of the Federal Reserve System, as published by the Federal Reserve Bank of New York on the Business Day next succeeding such day; provided that (a) if such day is not a Business Day, the Federal Funds Rate
for such day shall be such rate on such transactions on the next preceding Business Day as so published on the next succeeding Business Day, and (b) if no such rate is so published on such next succeeding Business Day, the Federal Funds Rate
for such day shall be the average rate (rounded upward, if necessary, to a whole multiple of 1/100 of 1%) charged to Bank of America on such day on such transactions as determined by the Lender. 

“Fiscal Quarter” means each fiscal quarter of the Company, as set forth on Schedule 1.01(c) attached hereto. 

“Foreign Accounts” has the meaning specified in Section 6.14(d). 

“Foreign Cash Equivalents” means Investments denominated in Dollars, Canadian Dollars, Sterling, Euro or Danish Krone wholly
owned by any of the Foreign Subsidiaries free and clear of all Liens (other than Permitted Liens) and not guaranteed by any member of the Group in: (a) certificates of deposit maturing within one year after the date of acquisition thereof and
issued by a bank or financial institution that (i) is organized under the laws of the United Kingdom, Canada, the Republic of Ireland, Denmark, France or Germany, (ii) which has a rating for its long-term unsecured and non credit-enhanced
debt obligations of at least “Prime-1” (or the then equivalent grade) by Moody’s, at least “F1” (or the then equivalent grade) by Fitch Ratings Ltd or at least “A-1” (or the then equivalent grade) by S&P, and
(iii) has combined capital and surplus of at least $1,000,000,000; (b) readily marketable debt obligations issued or directly and fully guaranteed by the government of the United Kingdom, Canada, the Republic of Ireland, Denmark, France or
Germany, or by any agency or instrumentality of any of them having an equivalent credit rating, maturing within twelve (12) months from the date of acquisition 

  
 15 

 
thereof and not convertible or exchangeable to any other security; provided that the full faith and credit of such foreign country is pledged in support thereof and that obligations issued
by such foreign country, agency or instrumentality are rated at least “Prime-1” (or the then equivalent grade) by Moody’s, at least “F1” (or the then equivalent grade) by Fitch Ratings Ltd or at least “A-1” (or the
then equivalent grade) by S&P; (c) commercial paper not convertible or exchangeable to any other security for which a recognised trading market exists issued by any Person organized under the laws of the United Kingdom,
CanandaCanada, the Republic of Ireland, Denmark, France or Germany which matures within one year after the date of acquisition thereof and which has a credit rating of at
least “Prime-1” (or the then equivalent grade) by Moody’s, at least “F1” (or the then equivalent grade) by Fitch Ratings Ltd or at least “A-1” (or the then equivalent grade) by S&P; or (d) money market
funds which invest substantially all their assets in securities of the types described in paragraphs (a) to (c) above which have a credit rating of at least “Prime-1” (or the then equivalent grade) by Moody’s, at least
“F1” (or the then equivalent grade) by Fitch Ratings Ltd or at least “A-1” (or the then equivalent grade) by S&P, in each case to the extent that investment can be turned into cash on not more than 30 days’ notice. 

“Foreign Guaranteed Obligations” has the meaning set forth in Section 9.01(b). 

“Foreign Guarantor” means (i) as of the Closing Date, each of the Foreign Subsidiaries of the Company set forth on the
signature pages to this Agreement under the heading “Foreign Guarantor”, (ii) each other Foreign Subsidiary of the Company as may from time to time become a party to this Agreement pursuant to Section 6.13 and (iii) the
Danish Borrower with respect to Secured Obligations owing by any Foreign Subsidiary which is a Loan Party under Secured Cash Management Agreements and Secured Hedge Agreements and any Swap Obligation of any Foreign Subsidiary which is a Specified
Loan Party (determined before giving effect to Sections 9.01 and 9.11) under the Guaranty. 
 “Foreign Obligation Loan
Documents” means all legal documentation entered into between the Danish Borrower or any Foreign Guarantor and the Foreign Obligation Provider in connection with the Foreign Subsidiary Secured Obligations. 

“Foreign Obligation Provider” shall have the meaning set forth in the definition of Foreign Subsidiary Secured Obligations.

 “Foreign Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, the
Danish Borrower or any Foreign Subsidiary which is a Loan Party or other Foreign Obligor arising under this Agreement or any other Loan Document or otherwise with respect to the Danish Term
Loan, and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by
assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against the Danish Borrower or any Foreign Guarantor pursuant to any
proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that the Foreign Obligations shall exclude
(i) any Excluded Swap Obligations and (ii) any U.S. Obligations and any other obligations owing by the Company or any Domestic Subsidiary under the Loan Documents, any Secured Cash Management Agreements, or any Secured Hedge Agreement or
otherwise. 
 “Foreign Obligor” means a Loan Party that is a Foreign Subsidiary. 

“Foreign Subsidiary” means any direct or indirect Subsidiary of the Company that is not a Domestic Subsidiary. 

  
 16 

 “Foreign Subsidiary Guaranty” means, collectively, the Guarantee made by the
Foreign Guarantors under Article IX in favor of the Secured Parties with respect to the Foreign Guaranteed Obligations, together with each other guaranty with respect to the Foreign Guaranteed Obligations delivered pursuant to Section 6.13.

 “Foreign Subsidiary Secured Obligations” means all unpaid principal of, accrued and unpaid interest and fees and
reimbursement obligations, and all expenses, reimbursements, indemnities and other obligations under or with respect to, all advances to, and debts, liabilities, obligations, covenants and duties of the Danish Borrower or any other Foreign
Subsidiary arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit owing by the Danish Borrower or any other Foreign Subsidiary to Bank of America or any office, branch or Affiliate of Bank of America (each a
“Foreign Obligation Provider”) and all costs and expenses incurred in connection with the enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case, whether direct or
indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against the Danish Borrower or any
Foreign Subsidiary or any Affiliate thereto pursuant to any proceeding under any Debt Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding,
including without limitation, (a) the Danish Term Loan and other Foreign Obligations, (b) all obligations of the Danish Borrower or any other Foreign Subsidiary arising under
Secured Cash Management Agreements and Secured Hedge Agreements, and (c) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case
whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against the
Danish Borrower or any other Foreign Subsidiary pursuant to any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such
proceeding; provided that Foreign Subsidiary Secured Obligations shall exclude (i) any Excluded Swap Obligations with respect to the Danish Borrower or any other Foreign Subsidiary and (ii) any U.S. Obligations and any other
obligations owing by the Company or any Domestic Subsidiary under the Loan Documents, any Secured Cash Management Agreements, or any Secured Hedge Agreement or otherwise. 

“FRB” means the Board of Governors of the Federal Reserve System of the United States. 

“Funding Indemnity Letter” means a funding indemnity letter in form and substance reasonably acceptable to the Lender. 

“GAAP” means generally accepted accounting principles in the United States set forth from time to time in the opinions and
pronouncements of the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board (or agencies with similar functions of comparable stature and
authority within the accounting profession) including, without limitation, the FASB Accounting Standards Codification, that are applicable to the circumstances as of the date of determination, consistently applied and subject to Section 1.03.

 “Governmental Authority” means the government of the United States or any other nation, or of any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government (including, without limitation, the Financial Conduct Authority, the Prudential Regulation Authority and any supra-national bodies such as the European Union or the European Central Bank). 

  
 17 

 “Guarantee” means, as to any Person, (a) any obligation, contingent or
otherwise, of such Person guaranteeing or having the economic effect of guaranteeing any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other obligation payable or performable by another Person
(the “primary obligor”) in any manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of) such
Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or other
obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or other
obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect thereof
(in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness of the kind described in clauses (a) through (g) of the definition thereof or other obligation of any other Person, whether or not such
Indebtedness or other obligation is assumed or expressly undertaken by such Person (or any right, contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien). The amount of any Guarantee shall be deemed to be an amount equal
to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in respect thereof as determined
by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means, collectively, the Foreign Guarantors and the Domestic Guarantors. 

“Guaranty” means the Foreign Subsidiary Guaranty and the Domestic Guaranty, as applicable. 

“Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic substances, wastes
or other pollutants, including petroleum or petroleum distillates, natural gas, natural gas liquids, asbestos or asbestos-containing materials, polychlorinated biphenyls, radon gas, toxic mold, infectious or medical wastes and all other substances,
wastes, chemicals, pollutants, contaminants or compounds of any nature in any form regulated pursuant to any Environmental Law. 

“Honeywell” means Honeywell International Inc. 

“Honeywell License Acquisition” means (a) that certain acquisition by
the U.S. Borrower of certain assets relating to the flight deck printer business of Honeywell, and (b) that certain exclusive license of intellectual property related thereto granted to the U.S. Borrower by Honeywell, pursuant to and in
accordance with the Honeywell License Acquisition Agreement and the Honeywell Transition Services Agreement. 

“Honeywell License Acquisition Agreement” means that certain Asset Purchase
and License Agreement dated as of September 28, 2017, providing for the Honeywell License Acquisition. 

“Honeywell Transition Services Agreement” means that certain Transition
Services Agreement dated as of September 28, 2017, pursuant to which, among other things, Honeywell shall provide certain services to the U.S. Borrower in connection with the Honeywell License Acquisition.  

“Honor Date” has the meaning set forth in Section 2.03(c). 

“IFRS” means international accounting standards within the meaning of IAS Regulation 1606/2002 to the extent applicable to
the relevant financial statements delivered under or referred to herein. 

  
 18 

 “Indebtedness” means, as to any Person at a particular time, without
duplication, all of the following, whether or not included as indebtedness or liabilities in accordance with GAAP: 
 (a) all
obligations of such Person for borrowed money and all obligations of such Person evidenced by bonds, debentures, notes, loan agreements or other similar instruments; 

(b) the maximum amount of all direct or contingent obligations of such Person arising under letters of credit (including
standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments; 
 (c) net
obligations of such Person under any Swap Contract; 
 (d) all obligations (including, without limitation, earnout
obligations) of such Person to pay the deferred purchase price of property or services (other than trade accounts payable in the ordinary course of business); 

(e) indebtedness (excluding prepaid interest thereon) secured by a Lien on property owned or being purchased by such Person
(including indebtedness arising under conditional sales or other title retention agreements), whether or not such indebtedness shall have been assumed by such Person or is limited in recourse; 

(f) all Attributable Indebtedness in respect of Capitalized Leases and Synthetic Lease Obligations of such Person; 

(g) all Disqualified Equity Interests of such Person, valued at the greater of its voluntary or involuntary liquidation
preference plus accrued and unpaid dividends; and 
 (h) all Guarantees of such Person in respect of any of the foregoing.

 For all purposes hereof, the Indebtedness of any Person shall include the Indebtedness of any partnership or joint venture (other than a
joint venture that is itself a corporation or limited liability company) in which such Person is a general partner or a joint venturer, unless such Indebtedness is expressly made non-recourse to such Person. The amount of any net obligation under
any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 

“Indemnified Taxes” means (a) Taxes, other than Excluded Taxes, imposed
on or with respect to any payment made by or on account of any obligation of the Lender under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes. 

“Indemnitees” has the meaning specified in Section 10.04(b). 

“Information” has the meaning specified in Section 10.07. 

“Intellectual Property” has the meaning set forth in the Security Agreement. 

“Intercompany Debt” has the meaning specified in Section 7.02(d). 

“Interest Payment Date” means, (a) as to any Eurocurrency Rate Loan the last day of each Interest Period applicable to
such Loan and the Maturity Date of the Facility under which such Loan was made; provided, however, that if any Interest Period for a Eurocurrency Rate Loan exceeds three (3) months, the respective dates that fall every three
(3) months after the beginning of such Interest Period shall also be Interest Payment Dates; and (b) as to any Base Rate Loan, the last Business Day of each Fiscal Quarter and the Maturity Date of the Facility under which such Loan was
made. 

  
 19 

 “Interest Period” means, as to each Eurocurrency Rate Loan, the period
commencing on the date such Eurocurrency Rate Loan is disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one (1), two (2) or three (3) months thereafter (in each case, subject to availability for the
interest rate applicable to the relevant currency), as selected by a Borrower in the applicable Loan Notice; provided that: 

(a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to the next succeeding
Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the next preceding Business Day; 

(b) any Interest Period that begins on the last Business Day of a calendar month (or on a day for which there is no numerically
corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and 

(c) no Interest Period shall extend beyond the Maturity Date of the Facility under which such Loan was made. 

“Investment” means, as to any Person, any direct or indirect acquisition or investment by such Person consisting of
(a) the purchase or other acquisition of Equity Interests of another Person, (b) a loan, advance or capital contribution to, Guarantee or assumption of Indebtedness of, or purchase or other acquisition of any other Indebtedness or interest
in, another Person (including any partnership or joint venture interest in such other Person and any arrangement pursuant to which the investor guarantees Indebtedness of such other Person), or (c) the purchase or other acquisition (in one
transaction or a series of transactions) of assets of another Person which constitute all or substantially all of the assets of such Person or of a division, line of business or other business unit of such Person. For purposes of covenant
compliance, the amount of any Investment shall be the amount actually invested, without adjustment for subsequent increases or decreases in the value of such Investment. 

“Involuntary Disposition” means any loss of, damage to or destruction of, or any condemnation or other taking for public use
of, any property of any Loan Party or any Subsidiary. 
 “IRS” means the United States Internal Revenue Service. 

“ISP” means, with respect to any Letter of Credit, the “International Standby Practices 1998” published by the
Institute of International Banking Law & Practice, Inc. (or such later version thereof as may be in effect at the time of issuance). 

“Issuer Documents” means with respect to any Letter of Credit, the Letter of Credit Application, and any other document,
agreement and instrument entered into by the Lender and the U.S. Borrower (or any Subsidiary) or in favor of the Lender and relating to such Letter of Credit. 

“Joinder Agreement” means a joinder agreement substantially in the form of Exhibit B executed and delivered in
accordance with the provisions of Section 6.13. 
 “Judgment Currency” has the meaning specified in
Section 10.20. 

  
 20 

 “Laws” means, collectively, all international, foreign, federal, state and local
statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any Governmental Authority charged with the enforcement,
interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case whether or not having the force of
law. 
 “L/C Credit Extension” means, with respect to any Letter of Credit, the issuance thereof or extension of the expiry
date thereof, or the increase of the amount thereof. 
 “L/C Obligations” means, as at any date of determination, the
aggregate amount available to be drawn under all outstanding Letters of Credit plus the aggregate of all Unreimbursed Amounts. For purposes of computing the amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit
shall be determined in accordance with Section 1.06. For all purposes of this Agreement, if on any date of determination a Letter of Credit has expired by its terms but any amount may still be drawn thereunder by reason of the operation of Rule
3.14 of the ISP, such Letter of Credit shall be deemed to be “outstanding” in the amount so remaining available to be drawn. 

“Lender” means Bank of America, N.A. (or any of its designated branch offices or affiliates) and its successors and assigns.
The term “Lender” shall include any Designated Lender. 
 “Lender’s Office” means, with respect to any
currency, the Lender’s address and, as appropriate, account as set forth on Schedule 1.01(a) with respect to such currency, or such other address or account with respect to such currency as the Lender may from time to time notify the
Borrowers; which office may include any Affiliate of the Lender or any domestic or foreign branch of the Lender or such Affiliate. 

“Letter of Credit” means any standby letter of credit issued hereunder. Letters of Credit may be issued in Dollars or in an
Alternative Currency. 
 “Letter of Credit Application” means an application and agreement for the issuance or amendment of
a Letter of Credit in the form from time to time in use by the Lender. 
 “Letter of Credit Expiration Date” means the day
that is seven (7) days prior to the Maturity Date then in effect for the Revolving Facility (or, if such day is not a Business Day, the next preceding Business Day). 

“Letter of Credit Fee” has the meaning specified in Section 2.03(g). 

“Letter of Credit Sublimit” means an amount equal to the lesser of (a) $5,000,000 and (b) the Revolving Facility.
The Letter of Credit Sublimit is part of, and not in addition to, the Revolving Facility. 
 “LIBOR” has the meaning
specified in the definition of Eurocurrency Rate. 
 “LIBOR Quoted Currency” means Dollars and Euros, in each case as long
as there is a published LIBOR rate with respect thereto. 
 “Lien” means any mortgage, pledge, hypothecation, collateral
assignment, collateral deposit arrangement, encumbrance, lien (statutory or otherwise), charge, or preference, priority or other security interest or preferential arrangement in the nature of a security interest of any kind or nature whatsoever
(including any conditional sale or other title retention agreement, any easement, right of way or other encumbrance on title to real property and any financing lease having substantially the same economic effect as any of the foregoing). 

  
 21 

 “Liquidity” means the unrestricted cash and Cash Equivalents of the U.S. Loan
Parties. 
 “Loan” means an extension of credit by the Lender to a Borrower under Article II in the form of a Term Loan or
a Revolving Loan. 
 “Loan Documents” means, collectively, (a) this Agreement, (b) the Guaranty, (c) the
Collateral Documents, (d) each Issuer Document, (e) each Joinder Agreement, (f) any agreement creating or perfecting rights in Cash Collateral pursuant to the provisions of Section 2.12, and (g) all other certificates,
agreements, documents and instruments executed and delivered, in each case, by or on behalf of any Loan Party pursuant to the foregoing (but specifically excluding any Secured Hedge Agreement or any Secured Cash Management Agreement). 

“Loan Notice” means a notice of (a) a Borrowing, (b) a conversion of Loans from one Type to the other, or
(c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit C or such other form as may be approved by the Lender (including any form on an
electronic platform or electronic transmission system as shall be approved by the Lender), appropriately completed and signed by a Responsible Officer of the Borrowers. 

“Loan Parties” means, collectively, the Borrowers and each Guarantor. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Mandatory Cost” means any amount incurred periodically by the Lender during the term of
the Facility which constitutes fees, costs or charges imposed on lenders generally in the jurisdiction in which the Lender is domiciled, subject to regulation, or has its Facility Office by any Governmental Authority. 

“Master Agreement” has the meaning set forth in the definition of “Swap Contract.” 

“Material Adverse Effect” means (a) a material adverse change in, or a material adverse effect upon, the operations,
business, properties, liabilities (actual or contingent) or condition (financial or otherwise) of the Company and its Subsidiaries taken as a whole; (b) a material impairment of the rights and remedies of the Lender under any Loan Document, or
of the ability of any Loan Party to perform its obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against any Loan Party of any Loan
Document to which it is a party. 
 “Maturity Date” means (a) with respect to the Revolving Facility,
January 31, 2022 andNovember 30, 2022, (b) with respect to the U.S. Term Facility, November 30, 2022,
and (c) with respect to the Danish Term Facility, January 31, 2022; provided, however, that, in each case, if such date is not a Business Day, the Maturity Date shall be the next preceding Business Day. 

“Measurement Period” means, at any date of determination, the most recently completed four (4) fiscal quarters of the
Company; provided for purposes of calculation of any item in a financial ratio or a financial covenant, any Acquisition or Disposition occurring during or after such Measurement Period shall be calculated on a Pro Forma Basis. 

  
 22 

 “Minimum Collateral Amount” means, at any time, with respect to Cash Collateral
consisting of cash or deposit account balances provided in accordance with the provisions of Section 2.12(a)(i) or (a)(ii), an amount equal to 105% of the Outstanding Amount of all L/C Obligations, and (d) otherwise, an amount determined
by Lender in its Permitted Discretion, provided such amount shall not exceed $105%. 
 “Moody’s” means Moody’s
Investors Service, Inc. and any successor thereto. 
 “Multiemployer Plan” means any employee benefit plan of the type
described in Section 4001(a)(3) of ERISA, to which a Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five (5) plan years, has made or been obligated to make contributions. 

“Multiple Employer Plan” means a Plan which has two or more contributing sponsors (including a Borrower or any ERISA
Affiliate) at least two of whom are not under common control, as such a plan is described in Section 4064 of ERISA. 
 “Net
Cash Proceeds” means the aggregate cash or Cash Equivalents proceeds received by any Loan Party or any Subsidiary in respect of any Disposition, Equity Issuance, Debt Issuance or Involuntary Disposition, net of (a) direct costs
incurred in connection therewith (including, without limitation, legal, accounting and investment banking fees and sales commissions), (b) taxes paid or payable as a result thereof, (c) in the case of any Disposition or any Involuntary
Disposition, the amount necessary to retire any Indebtedness secured by a Permitted Lien on the related property; it being understood that “Net Cash Proceeds” shall include, without limitation, any cash or Cash Equivalents received upon
the sale or other disposition of any non-cash consideration received by any Loan Party or any Subsidiary in any Disposition, Equity Issuance, Debt Issuance or Involuntary Disposition, provided that with
respect to any Disposition or Involuntary Disposition, and (d) so long as no Event of Default exists, all money actually reinvested within one hundred eighty (180) days of receipt of such cash proceeds to replace the affected assets with
assets used or useful in the business, or repair, replace or reconstruct damaged property or property affected by loss, destruction, damage, condemnation, confiscation, requisition, seizure or taking, as applicable, and in each case, only if such
proceeds are held in a deposit account subject to the control of Lender until such proceeds are actually applied to replace, repair or reconstruct such property, as the case may be (with such proceeds remaining in such deposit account after the one
hundred eighty (180) period day set forth above constituting Net Cash Proceeds received by a Loan Party immediately after the expiration of such period). 

“Non-Extension Notice Date” has the meaning specified in Section 2.03(b)(iv). 

“Non-LIBOR Quoted Currency” means any currency other than a LIBOR Quoted Currency. 

“Non-Reinstatement Deadline” has the meaning specified in Section 2.03(b)(iv). 

“Notice of Loan Prepayment” means a notice of prepayment with respect to a Loan, which shall be substantially in the form of
Exhibit F or such other form as may be approved by the Lender (including any form on an electronic platform or electronic transmission system as shall be approved by the Lender), appropriately completed and signed by a Responsible Officer.

 “Obligations” means (a) all advances to, and debts, liabilities, obligations, covenants and duties of, any Loan
Party arising under any Loan Document or otherwise with respect to any Loan or Letter of Credit and (b) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and
disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now 

  
 23 

 
existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against any Loan Party or any Affiliate thereof pursuant to any proceeding under
any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that Obligations of a Loan Party shall exclude any Excluded
Swap Obligations with respect to such Loan Party. The Obligations shall include the Foreign Obligations and the U.S. Obligations. 

“Ondis Share Repurchase” means the repurchase, which was consummated on or
about May 2, 2017, of Equity Interests in the U.S. Borrower held by the Albert W. Ondis Declaration of Trust, consisting of 862,305 shares of common voting stock of the U.S. Borrower at a price of $13.60 per share. 

“OFAC” means the Office of Foreign Assets Control of the United States Department of the Treasury. 

“Organization Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and
the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S. jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement or
limited liability company agreement (or equivalent or comparable documents with respect to any non-U.S. jurisdiction); (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or
other applicable agreement of formation or organization (or equivalent or comparable documents with respect to any non-U.S. jurisdiction) and (d) with respect to all entities, any agreement, instrument, filing or notice with respect thereto
filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization (or equivalent or comparable documents with respect to any non-U.S. jurisdiction). 

“Other Connection Taxes” means, with respect to the Lender, any Taxes now or hereafter imposed as a result of a present or
former connection between the Lender and the jurisdiction (or any political subdivision thereof) imposing such charge (other than connections arising from the Lender having executed, delivered, become a party to, performed its obligations under,
received payments under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced any Loan Document). 

“Other Taxes” means all present or future documentary, stamp, court, intangible, recording, filing or similar Taxes that
arise from the execution, delivery, performance, enforcement or registration of, from the receipt or perfection of a security interest under, any Loan Document. 

“Outstanding Amount” means (a) with respect to Term Loans and Revolving Loans on any date, the Dollar Equivalent amount
of the aggregate outstanding principal amount thereof after giving effect to any borrowings and prepayments or repayments of Term Loans and Revolving Loans, as the case may be, occurring on such date; and (b) with respect to any L/C Obligations
on any date, the Dollar Equivalent amount of the aggregate outstanding amount of such L/C Obligations on such date after giving effect to any L/C Credit Extension occurring on such date and any other changes in the aggregate amount of the L/C
Obligations as of such date, including as a result of any reimbursements by the Borrowers of Unreimbursed Amounts. 
 “Participating
Member State” means any member state of the European Union that adopts or has adopted the Euro as its lawful currency in accordance with legislation of the European Union relating to Economic and Monetary Union. 

  
 24 

 “Patriot Act” means the Uniting and Strengthening America by Providing
Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Pub. L. No. 107-56, 115 Stat. 272 (2001). 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“Pension Act” means the Pension Protection Act of 2006. 

“Pension Funding Rules” means the rules of the Code and ERISA regarding minimum required contributions (including any
installment payment thereof) to Pension Plans and set forth in, with respect to plan years ending prior to the effective date of the Pension Act, Section 412 of the Code and Section 302 of ERISA, each as in effect prior to the Pension Act
and, thereafter, Section 412, 430, 431, 432 and 436 of the Code and Sections 302, 303, 304 and 305 of ERISA. 
 “Pension
Plan” means any employee pension benefit plan (including a Multiple Employer Plan or a Multiemployer Plan) that is maintained or is contributed to by a Borrower and any ERISA Affiliate and is either covered by Title IV of ERISA or is
subject to the minimum funding standards under Section 412 of the Code. 
 “Permitted Acquisition” means an
Acquisition by a Loan Party (the Person or division, line of business or other business unit of the Person to be acquired in such Acquisition shall be referred to herein as the “Target”), in each case that is a type of business (or
assets used in a type of business) permitted to be engaged in by the Company and its Subsidiaries pursuant to the terms of this Agreement, in each case so long as: 

(a) no Default shall then exist or would exist after giving effect thereto; 

(b) the Loan Parties shall demonstrate to the reasonable satisfaction of the Lender that, after giving effect to the
Acquisition on a Pro Forma Basis, the Loan Parties are in Pro Forma Compliance; 
 (c) the Lender shall have received
(or shall receive within 30 days after the closing of such Acquisition) a first priority perfected security interest (subject only to Permitted Liens) in all property (including, without limitation, Equity Interests) acquired with respect to the
Target in accordance with the terms of Section 6.13 and the Target, if a Person, (i) shall become a wholly-owned Subsidiary of a Loan Party and, if the Target is a Foreign Subsidiary, the Loan Parties shall comply with the limitations set
forth in Section 7.03 and (ii) shall, within 30 days after the closing of such Acquisition, a Joinder Agreement in accordance with the terms of Section 6.13; provided that, for the avoidance of doubt, if the Target is not a
Domestic Subsidiary, the Lender shall have received a security interest only to the extent required by the terms of Section 6.13; 

(d) the Lender shall have received at least twenty (20) days prior to the consummation of such Acquisition (i) a
description of the material terms of such Acquisition, (ii) audited financial statements (or, if unavailable, management-prepared financial statements) of the Target for its two most recent fiscal years and for any fiscal quarters ended within
the fiscal year to date, in each case that ended at least, in the case of such annual financial, 120 days, or in the case of any such quarterly financial statements, 60 days prior to the date of consummation of such Acquisition,
(iii) consolidated projected income statements of the Company and its Subsidiaries (giving effect to such Acquisition), and (iv) not less than five (5) Business Days prior to the consummation of any Permitted Acquisition, a
certificate substantially in the form of Exhibit D, executed by a Responsible Officer of the Borrowers certifying that such Permitted Acquisition complies with the requirements of this Agreement; 

  
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 (e) the Target shall have earnings before interest, taxes, depreciation and
amortization for the four (4) fiscal quarter period prior to the acquisition date in an amount greater than $0, with respect to any acquisition where the cash portion of the total consideration to be paid upon consummation of such acquisition
is $5,000,000 or more; 
 (f) such Acquisition shall not be a “hostile” Acquisition and shall have been approved by
the board of directors (or equivalent) and/or shareholders (or equivalent) of the applicable Loan Party and the Target; 

(g) after giving effect to such Acquisition and any Borrowings made in connection therewith, the aggregate Liquidity
plus the aggregate principal amount of the Revolving Loans available to be borrowed under Section 2.01(b) shall be in the aggregate at least $5,000,000, provided that of such aggregate amount, at least $2,500,000 must be
attributable to Liquidity; and 
 (h) the Cost of Acquisition paid by the Loan Parties and their Subsidiaries (i) in
connection with any single Acquisition shall not exceed $10,000,000 and (ii) for all Acquisitions made during the term of this Agreement shall not exceed $20,000,000 (excluding, for
purposes of clauses (i) and (ii), the Honeywell License Acquisition and the Cost of Acquisition thereof). 
 “Permitted
Liens” has the meaning set forth in Section 7.01. 
 “Permitted Transfers” means (a) Dispositions of
inventory in the ordinary course of business; (b) Dispositions of property to the Borrowers or any Subsidiaries, provided that (a) if the transferor is a U.S. Loan Party the transfer must be to a U.S. Loan Party or the transfer must be
otherwise permitted as an Investment by Section 7.03, (b) if the transferor is a Foreign Obligor the transfer must be to a Loan Party or the transfer must be an Investment otherwise permitted by Section 7.03, (c) Dispositions of
accounts receivable in connection with the collection or compromise thereof; (d) licenses, sublicenses, leases or subleases granted to others not interfering in any material respect with the business of the Company and its Subsidiaries; and
(e) the sale or disposition of cash or Cash Equivalents for fair market value. 
 “Person” means any natural person,
corporation, limited liability company, trust, joint venture, association, company, partnership, Governmental Authority or other entity. 

“Plan” means any employee benefit plan within the meaning of Section 3(3) of ERISA (including a Pension Plan),
maintained for employees of a Borrower or any ERISA Affiliate or any such Plan to which a Borrower or any ERISA Affiliate is required to contribute on behalf of any of its employees. 

“Pledged Equity” has the meaning specified in the Security Agreement. 

“Pro Forma Basis” and “Pro Forma Effect” means, for any Disposition of all or substantially all of a
division or a line of business or for any Acquisition, whether actual or proposed, for purposes of determining compliance with the financial covenants set forth in Section 7.11, each such transaction or proposed transaction shall be deemed to
have occurred on and as of the first day of the relevant Measurement Period, and the following pro forma adjustments shall be made: 

(a) in the case of an actual or proposed Disposition, all income statement items (whether positive or negative) attributable to
the line of business or the Person subject to such Disposition shall be excluded from the results of the Company and its Subsidiaries for such Measurement Period; 

  
 26 

 (b) in the case of an actual or proposed Acquisition, income statement items
(whether positive or negative) attributable to the property, line of business or the Person subject to such Acquisition shall be included in the results of the Company and its Subsidiaries for such Measurement Period; 

(c) interest accrued during the relevant Measurement Period on, and the principal of, any Indebtedness repaid or to be repaid
or refinanced in such transaction shall be excluded from the results of the Company and its Subsidiaries for such Measurement Period; and 

(d) any Indebtedness actually or proposed to be incurred or assumed in such transaction shall be deemed to have been incurred
as of the first day of the applicable Measurement Period, and interest thereon shall be deemed to have accrued from such day on such Indebtedness at the applicable rates provided therefor (and in the case of interest that does or would accrue at a
formula or floating rate, at the rate in effect at the time of determination) and shall be included in the results of the Company and its Subsidiaries for such Measurement Period. 

“Pro Forma Compliance” means, with respect to any transaction, that such transaction does not cause, create or result in a
Default after giving Pro Forma Effect, based upon the results of operations for the most recently completed Measurement Period to (a) such transaction and (b) all other transactions which are contemplated or required to be given Pro Forma
Effect hereunder that have occurred on or after the first day of the relevant Measurement Period. 
 “Qualified ECP
Guarantor” means, at any time, each Loan Party with total assets exceeding $10,000,000 or that qualifies at such time as an “eligible contract participant” under the Commodity Exchange Act and can cause another Person to qualify
as an “eligible contract participant” at such time under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

“Qualified Equity Interest” means any Equity Interest that is not a Disqualified Equity Interest. 

“Qualifying Control Agreement” means an agreement, among a Loan Party, a depository institution or securities intermediary
and the Lender, which agreement is in form and substance acceptable to the Lender and which provides the Lender with “control” (as such term is used in Article 9 of the UCC) over the deposit account(s) or securities account(s) described
therein. 
 “Register” has the meaning specified in Section 2.14. 

“Related Parties” means, with respect to any Person, such Person’s Affiliates and the partners, directors, officers,
employees, agents, trustees, administrators, managers, advisors and representatives of such Person and of such Person’s Affiliates. 

“Reportable Event” means any of the events set forth in Section 4043(c) of ERISA, other than events for which the
thirty (30) day notice period has been waived. 
 “Request for Credit Extension” means (a) with respect to a
Borrowing, conversion or continuation of Term Loans or Revolving Loans, a Loan Notice and (b) with respect to an L/C Credit Extension, a Letter of Credit Application. 

“Responsible Officer” means the chief executive officer, president, chief financial officer, treasurer, assistant treasurer
or controller of a Loan Party and, solely for purposes of the delivery of incumbency certificates pursuant to Section 4.01, the secretary or any assistant secretary of a Loan Party, and,
solely for purposes of notices given pursuant to Article II, any other officer or employee of the  

  
 27 

 
applicable Loan Party so designated by any of the foregoing officers in a notice to the Lender or any other officer or employee of the
applicable Loan Party designated in or pursuant to an agreement between the applicable Loan Party and the Lender. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have
been authorized by all necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party and not in such person’s
individual capacity. To the extent requested by the Lender, each Responsible Officer will provide an incumbency certificate and to the extent requested by the Lender, appropriate authorization documentation, in form and substance satisfactory to the
Lender. 
 “Restricted Payment” means (a) any dividend or other distribution, direct or indirect, on account of any
shares (or equivalent) of any class of Equity Interests of the Company or any of its Subsidiaries, now or hereafter outstanding, (b) any redemption, retirement, sinking fund or similar payment, purchase or other acquisition for value, direct or
indirect, of any shares (or equivalent) of any class of Equity Interests of the Company or any of its Subsidiaries, now or hereafter outstanding, and (c) any payment made to retire, or to obtain the surrender of, any outstanding warrants,
options or other rights to acquire shares of any class of Equity Interests of any Loan Party or any of its Subsidiaries, now or hereafter outstanding. 

“Revaluation Date” means (a) with respect to any Loan, each of the following: (i) each date of a Borrowing of a
Eurocurrency Rate Loan denominated in an Alternative Currency, (ii) each date of a continuation of a Eurocurrency Rate Loan denominated in an Alternative Currency pursuant to Section 2.02, and (iii) such additional dates as the Lender
shall determine; and (b) with respect to any Letter of Credit, each of the following: (i) each date of issuance, amendment and/or extension of a Letter of Credit denominated in an Alternative Currency, (ii) each date of any payment by
the Lender under any Letter of Credit denominated in an Alternative Currency, and (iii) such additional dates as the Lender shall determine. 

“Revolving Borrowing” means a borrowing consisting of simultaneous Revolving Loans of the same Type and, in the case of
Eurocurrency Rate Loans, having the same Interest Period made by the Lender pursuant to Section 2.01(b). 
 “Revolving
Commitment” means the Lender’s obligation to (a) make Revolving Loans to the U.S. Borrower pursuant to Section 2.01(b) and (b) issue Letters of Credit for the account of the U.S. Borrower pursuant to Section 2.03.
The Revolving Commitment onfor the period from the Closing Date through September 27, 2017 shall be
$10,000,000., the Revolving Commitment for the period from September 28, 2017 through the date prior to the Second Amendment Effective Date shall be $15,000,000, and the
Revolving Commitment shall be $10,000,000 on and after the Second Amendment Effective Date, in each case during the Availability Period. 

“Revolving Facility” means, at any time, the aggregate amount of the Lender’s Revolving
CommitmentsCommitment at such time. 
 “Revolving
Loan” has the meaning specified in Section 2.01(b). 
 “Revolving Prepayment Amounts” has the meaning set
forth in Section 2.05(b)(iii). 
 “S&P” means Standard & Poor’s Financial Services LLC, a subsidiary
of The McGraw-Hill Companies, Inc., and any successor thereto. 

  
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 “Sale and Leaseback Transaction” means, with respect to any Loan Party or any
Subsidiary, any arrangement, directly or indirectly, with any Person whereby such Loan Party or such Subsidiary shall sell or transfer any property used or useful in its business, whether now owned or hereafter acquired, and thereafter rent or lease
such property or other property that it intends to use for substantially the same purpose or purposes as the property being sold or transferred. 

“Same Day Funds” means (a) with respect to disbursements and payments in Dollars, immediately available funds, and
(b) with respect to disbursements and payments in an Alternative Currency, same day or other funds as may be determined by the Lender to be customary in the place of disbursement or payment for the settlement of international banking
transactions in the relevant Alternative Currency. 
 “Sanction(s)” means any sanction administered or enforced by the
United States Government (including, without limitation, OFAC), the United Nations Security Council, the European Union, Her Majesty’s Treasury (“HMT”) or other relevant sanctions authority. 

“SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding to any of its principal
functions. 
 “Second Amendment Effective Date” means November 30,
2017. 
 “Secured Cash Management Agreement” means any Cash Management Agreement between the any Loan Party and any of
its Subsidiaries and the Lender or an Affiliate of the Lender. 
 “Secured Hedge Agreement” means any interest rate,
currency, foreign exchange, or commodity Swap Contract required or not prohibited under Article VI or VII between any Loan Party and any of its Subsidiaries and the Lender or an Affiliate of the Lender. 

“Secured Obligations” means (a) in the case of the U.S. Borrower, (i) all Obligations, (ii) all obligations
arising under Secured Cash Management Agreements and Secured Hedge Agreements, (iii) all costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in
each case whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against
any Loan Party or any Affiliate thereof of any proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding and
(iv) all Foreign Subsidiary Secured Obligations, and (b) in the case of any Domestic Guarantor, such Guarantor’s Domestic Guaranteed Obligations; provided that Secured Obligations of a the U.S. Borrower and each Domestic
Guarantor shall exclude any Excluded Swap Obligations with respect to such Person. 
 “Secured Parties” means,
collectively, the Lender (including any Designated Lenders) the Affiliates of the Lender party to Secured Cash Management Agreements and Secured Hedge Agreements, the Foreign Obligation Providers and the Indemnitees. 

“Securities Act” means the Securities Act of 1933, including all amendments thereto and regulations promulgated thereunder.

 “Security Agreement” means the Security and Pledge Agreement, dated as of the Closing Date, executed in favor of the
Lender by each of the Loan Parties. 

  
 29 

 “Share Purchase Agreement” means the Share Purchase Agreement, dated
January 7, 2017, by and among the Danish Borrower, as buyer, Trojan Holding ApS, a Danish private limited liability company, as a seller and as the sellers’ representative, and Li Wei Chong, an individual residing in the People’s
Republic of China, as a seller. 
 “Solvency Certificate” means a solvency certificate in substantially in the form of
Exhibit E. 
 “Solvent” and “Solvency” mean, with respect to any Person or group of Persons
taken together on a Consolidated basis on any date of determination, that on such date (a) the fair value of the property of such Person or group is greater than the total amount of liabilities, including contingent liabilities, of such Person
or group, (b) the present fair saleable value of the assets of such Person or group is not less than the amount that will be required to pay the probable liability of such Person or group on its debts as they become absolute and matured,
(c) such Person or group does not intend to, and does not believe that it will, incur debts or liabilities beyond such Person’s or group’s ability to pay such debts and liabilities as they mature, (d) such Person or group is not
engaged in business or a transaction, and is not about to engage in business or a transaction, for which such Person’s or group’s property would constitute an unreasonably small capital, and (e) such Person or group is able to pay its
debts and liabilities, contingent obligations and other commitments as they mature in the ordinary course of business. The amount of contingent liabilities at any time shall be computed as the amount that, in the light of all the facts and
circumstances existing at such time, represents the amount that can reasonably be expected to become an actual or matured liability. 

“Special Notice Currency” means at any time an Alternative Currency, other than the currency of a country that is a member of
the Organization for Economic Cooperation and Development at such time located in North America or Europe. 
 “Specified Loan
Party” means any Loan Party that is not then an “eligible contract participant” under the Commodity Exchange Act (determined prior to giving effect to Section 9.11). 

“Spot Rate” for a currency means the rate determined by the Lender to be the rate quoted by the Person acting in such
capacity as the spot rate for the purchase by such Person of such currency with another currency through its principal foreign exchange trading office at approximately 11:00 a.m. on the date two (2) Business Days prior to the date as of which
the foreign exchange computation is made; provided that the Lender may obtain such spot rate from another financial institution designated by the Lender if the Person acting in such capacity does not have as of the date of determination a
spot buying rate for any such currency; and provided further that the Lender may use such spot rate quoted on the date as of which the foreign exchange computation is made in the case of any Letter of Credit denominated in an
Alternative Currency. 
 “Subordinated Debt” means Indebtedness incurred by any Loan Party which by its terms (a) is
subordinated in right of payment to the prior payment of the Secured Obligations and (b) contains other terms, including without limitation, standstill, interest rate, maturity and amortization, and insolvency-related provisions, in all
respects acceptable to the Lender in its sole discretion. 
 “Subordinated Debt Documents” means all agreements (including
without limitation intercreditor agreements, instruments and other documents) pursuant to which Subordinated Debt has been or will be issued or otherwise setting forth the terms of any Subordinated Debt. 

“Subsidiary” of a Person means a corporation, partnership, joint venture, limited liability company or other business entity
of which a majority of the shares of Voting Stock is at the time beneficially owned, or the management of which is otherwise controlled, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified,
all references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Loan Parties. 

  
 30 

 “Swap Contract” means (a) any and all rate swap transactions, basis swaps,
credit derivative transactions, forward rate transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond
price or forward bond index transactions, interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options,
spot contracts, or any other similar transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and
(b) any and all transactions of any kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any
International Foreign Exchange Master Agreement, or any other master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master
Agreement. 
 “Swap Obligations” means with respect to any Loan Party any obligation to pay or perform under any agreement,
contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act. 

“Swap Termination Value” means, in respect of any one or more Swap Contracts, after taking into account the effect of any
legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance therewith, such termination value(s), and
(b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any
recognized dealer in such Swap Contracts (which may include the Lender or any Affiliate of the Lender). 
 “Synthetic Lease
Obligation” means the monetary obligation of a Person under (a) a so-called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of property (including Sale and Leaseback
Transactions), in each case, creating obligations that do not appear on the balance sheet of such Person but which, upon the application of any Debtor Relief Laws to such Person, would be characterized as the indebtedness of such Person (without
regard to accounting treatment). 
 “Target” has the meaning set forth in the definition of “Permitted
Acquisition.” 
 “TARGET2” means the Trans-European Automated Real-time Gross Settlement Express Transfer payment
system which utilizes a single shared platform and which was launched on November 19, 2007. 
 “TARGET Day” means any
day on which TARGET2 (or, if such payment system ceases to be operative, such other payment system, if any, determined by the Lender to be a suitable replacement) is open for the settlement of payments in Euro. 

“Taxes” has the meaning specified in
Section 3.10.means any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature now or hereafter imposed by any Governmental
Authority and all interest, penalties, additions to tax or similar liabilities with respect to such taxes, levies, imposts, duties, fees, assessments or other charges. 

  
 31 

 “Term Borrowings” means,
collectively, the Danish Term Borrowing and the U.S. Term Borrowing. 

“Term Commitments” means, collectively, the Danish Term Commitment and the
U.S. Term Commitment. 
 “Term Facilities” means, collectively, the
Danish Term Facility and the U.S. Term Facility. 
 “Term Borrowing” means a borrowing consisting of simultaneous Term
Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by the Lender pursuant to Section 2.01(a). 

“Term Commitment” means the Lender’s obligation to make Term Loans to the Danish Borrower pursuant to
Section 2.01(a). The Term Commitment on the Closing Date shall be $9,200,000. 
 “Term Facility” means, at
any time, (a) on or prior to the Closing Date, the aggregate amount of the Term Commitments at such time and (b) thereafter, the aggregate principal amount of the Term Loans outstanding at such time. 

“Term Loans” means, collectively, the Danish Term Loan”
means an advance made by the Lender under the and the U.S. Term FacilityLoan. 

“Threshold Amount” means $1,000,000. 

“Total Revolving Outstandings” means the aggregate Outstanding Amount of all Revolving Loans and L/C Obligations. 

“Type” means, with respect to a Loan, its character as a Base Rate Loan or a Eurocurrency Rate Loan. 

“UCC” means the Uniform Commercial Code as in effect in the State of New York; provided that, if perfection or the
effect of perfection or non-perfection or the priority of any security interest in any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than the State of New York, “UCC” means the Uniform
Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

“UCP” means, with respect to any Letter of Credit, the Uniform Customs and Practice for Documentary Credits, International
Chamber of Commerce (“ICC”) Publication No. 600 (or such later version thereof as may be in effect at the time of issuance). 

“United States” and “U.S.” mean the United States of America. 

“Unreimbursed Amount” has the meaning specified in Section 2.03(c). 

“U.S. Borrower” has the meaning specified in the introductory paragraph hereto. 

“U.S. Loan Party” means any Loan Party that is organized under the laws of the United States any state thereof, or the
District of Columbia. 

  
 32 

 “U.S. Obligations” means (a) all advances to, and debts, liabilities,
obligations, covenants and duties of, the U.S. Borrower or any Domestic Subsidiary that is a Loan Party or any other U.S. Loan Party arising under this Agreement or any other Loan Document or otherwise with respect to the Loans and (b) all
costs and expenses incurred in connection with enforcement and collection of the foregoing, including the fees, charges and disbursements of counsel, in each case whether direct or indirect (including those acquired by assumption), absolute or
contingent, due or to become due, now existing or hereafter arising and including interest, expenses and fees that accrue after the commencement by or against the U.S. Borrower or any Domestic Subsidiary that is a Loan Party pursuant to any
proceeding under any Debtor Relief Laws naming such Person as the debtor in such proceeding, regardless of whether such interest, expenses and fees are allowed claims in such proceeding; provided that the U.S. Obligations shall exclude any
Excluded Swap Obligations; provided further that U.S. Obligations shall exclude any Foreign Obligations. 

“U.S. Term Borrowing” means a borrowing consisting of simultaneous U.S. Term
Loans of the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period made by the Lender pursuant to Section 2.01(a)(ii) or Section 2.13, as the context may require. 

“U.S. Term Commitment” means the Lender’s obligation to make U.S. Term
Loans to the U.S. Borrower pursuant to Section 2.01(a)(ii) or pursuant to an incremental commitment under Section 2.13, as the context may require. The U.S. Term Commitment on the Second Amendment Effective Date is $15,000,000 prior to the
making of the U.S. Term Loan in such amount. 
 “U.S. Term Facility”
means, at any time, (a) on or prior to the Second Amendment Effective Date, the aggregate amount of the U.S. Term Commitment at such time and (b) thereafter, the aggregate principal amount of the U.S. Term Loan outstanding at such
time. 
 “U.S. Term Loan” means the advance made by the Lender under
the U.S. Term Facility pursuant to Section 2.01(a)(ii) and any advance of a U.S. Term Loan made pursuant to Section 2.13. 

“Voting Stock” means, with respect to any Person, Equity Interests issued by such Person the holders of which are ordinarily,
in the absence of contingencies, entitled to vote for the election of directors (or persons performing similar functions) of such Person, even though the right to so vote has been suspended by the happening of such contingency. 

“Write-Down and Conversion Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers
of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

1.02 Other Interpretive Provisions. 

With reference to this Agreement and each other Loan Document, unless otherwise specified herein or in such other Loan Document: 

(a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms defined. Whenever the context may
require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.” The
word “will” shall be construed to have the same meaning and effect as the word “shall.” Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including the
Loan Documents and any Organization Document) shall be construed as referring to such agreement, instrument or other document as from time to time amended, amended and restated, modified, extended, restated, replaced or supplemented from time to
time (subject to any restrictions on such amendments, supplements or 

  
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modifications set forth herein or in any other Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (iii) the
words “hereto,” “herein,” “hereof” and “hereunder,” and words of similar import when used in any Loan Document, shall be construed to refer to such Loan Document in its entirety and not to any particular
provision thereof, (iv) all references in a Loan Document to Articles, Sections, Preliminary Statements, Exhibits and Schedules shall be construed to refer to Articles and Sections of, and Preliminary Statements, Exhibits and Schedules to, the
Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory rules, regulations, orders and provisions consolidating, amending, replacing or interpreting such law and any reference to
any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified, extended, restated, replaced or supplemented from time to time, and (vi) the words “asset” and “property” shall
be construed to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. Any and all references to “Borrower” regardless of
whether preceded by the term a, any, each of, all, and/or, or any other similar term shall be deemed to refer, as the context requires, to each and every (and/or any one or all) parties constituting a Borrower, individually and/or in the aggregate.

 (b) In the computation of periods of time from a specified date to a later specified date, the word “from” means “from and
including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the
interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting Terms. 

(a) Generally. All accounting terms not specifically or completely defined herein shall be construed in conformity with, and all
financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a
manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein. Notwithstanding the foregoing, for purposes of determining compliance with any covenant (including the computation of
any financial covenant) contained herein, Indebtedness of the Company and its Subsidiaries shall be deemed to be carried at 100% of the outstanding principal amount thereof, and the effects of FASB ASC 825 and FASB ASC 470-20 on financial
liabilities shall be disregarded. 
 (b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any
financial ratio or requirement set forth in any Loan Document, and either the Borrowers or Lender shall so request, the Lender and the Borrowers shall negotiate in good faith to amend such ratio or requirement to preserve the original intent thereof
in light of such change in GAAP; provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with GAAP prior to such change therein and (ii) the Borrowers shall provide to the Lender
financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP.
Without limiting the foregoing, leases shall continue to be classified and accounted for on a basis consistent with that reflected in the Audited Financial Statements for all purposes of this Agreement, notwithstanding any change in GAAP relating
thereto, unless the parties hereto shall enter into a mutually acceptable amendment addressing such changes, as provided for above. 

  
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 (c) Pro Forma Treatment. Each Disposition of all or substantially all of a line of
business, and each Acquisition (including, for the avoidance of doubt, the Danish Acquisition), by the Company and its Subsidiaries that is consummated during any Measurement Period shall, for purposes of determining compliance with the financial
covenants set forth in Section 7.11 and for purposes of determining the Applicable Rate, be given Pro Forma Effect as of the first day of such Measurement Period. 

1.04 Rounding. 
 Any financial
ratios required to be maintained by the Borrowers pursuant to this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is
expressed herein and rounding the result up or down to the nearest number (with a rounding-up if there is no nearest number). 
 1.05 Times of Day;
Rates. 
 Unless otherwise specified, all references herein to times of day shall be references to Eastern time (daylight or
standard, as applicable). 
 The Lender does not warrant, nor accept responsibility, nor shall the Lender have any liability with respect to
the administration, submission or any other matter related to the rates in the definition of “Eurocurrency Rate” or with respect to any comparable or successor rate thereto. 

1.06 Letter of Credit Amounts. 

Unless otherwise specified herein, the amount of a Letter of Credit at any time shall be deemed to be the Dollar Equivalent of the stated
amount of such Letter of Credit in effect at such time; provided, however, that with respect to any Letter of Credit that, by its terms or the terms of any Issuer Document related thereto, provides for one or more automatic increases in the
stated amount thereof, the amount of such Letter of Credit shall be deemed to be the Dollar Equivalent of the maximum stated amount of such Letter of Credit after giving effect to all such increases, whether or not such maximum stated amount is in
effect at such time. 
 1.07 UCC Terms. 

Terms defined in the UCC in effect on the Closing Date and not otherwise defined herein shall, unless the context otherwise indicates, have
the meanings provided by those definitions. Subject to the foregoing, the term “UCC” refers, as of any date of determination, to the UCC then in effect. 

1.08 Exchange Rates; Currency Equivalents. 

(a) The Lender shall determine the Spot Rates as of each Revaluation Date to be used for calculating Dollar Equivalent amounts of Credit
Extensions and Outstanding Amounts denominated in Alternative Currencies. Such Spot Rates shall become effective as of such Revaluation Date and shall be the Spot Rates employed in converting any amounts between the applicable currencies until the
next Revaluation Date to occur. Except for purposes of financial statements delivered by Loan Parties hereunder or calculating financial covenants hereunder or except as otherwise provided herein, the applicable amount of any currency (other than
Dollars) for purposes of the Loan Documents shall be such Dollar Equivalent amount as so determined by the Lender. 
 (b) Wherever in this
Agreement in connection with a Borrowing, conversion, continuation or prepayment of a Eurocurrency Rate Loan or the issuance, amendment or extension of a Letter of Credit, an amount, such as a required minimum or multiple amount, is expressed in
Dollars, but such Borrowing, 

  
 35 

 
Eurocurrency Rate Loan or Letter of Credit is denominated in an Alternative Currency, such amount shall be the relevant Alternative Currency Equivalent of such Dollar amount (rounded to the
nearest unit of such Alternative Currency, with 0.5 of a unit being rounded upward), as determined by the Lender. 
 1.09 Additional Alternative
Currencies. 
 (a) The Company may from time to time request that Eurocurrency Rate Loans be made and/or Letters of Credit be issued
in a currency other than those specifically listed in the definition of “Alternative Currency”; provided that (i) such requested currency is an Eligible Currency and (ii) such requested currency shall only be treated as a
“LIBOR Quoted Currency” to the extent that there is published LIBOR rate for such currency. In the case of any such request with respect to the making of Eurocurrency Rate Loans, such request shall be subject to the approval of the Lender,
and in the case of any such request with respect to the issuance of Letters of Credit, such request shall be subject to the approval of the Lender. 

(b) Any such request shall be made to the Lender not later than 11:00 a.m., twenty (20) Business Days prior to the date of the desired
Credit Extension (or such other time or date as may be agreed by the Lender in its sole discretion). 
 (c) If the Lender consents to making
Eurocurrency Rate Loans or Letters of Credit in such requested currency and the Lender reasonably determines that an appropriate interest rate is available to be used for such requested currency, the Lender shall so notify the Company and may amend
the definition of Eurocurrency Rate for any Non-LIBOR Quoted Currency to the extent necessary to add the applicable Eurocurrency Rate for such currency and (ii) to the extent the definition of Eurocurrency Rate reflects the appropriate interest
rate for such currency or has been amended to reflect the appropriate rate for such currency, such currency shall thereupon be deemed for all purposes to be an Alternative Currency for purposes of any Borrowings of Eurocurrency Rate Loans or the
issuance of Letters of Credit, as applicable. 
 1.10 Change of Currency. Each obligation of the Borrowers to make a payment denominated in
the national currency unit of any member state of the European Union that adopts the Euro as its lawful currency after the date hereofClosing Date shall be redenominated
into Euro at the time of such adoption. If, in relation to the currency of any such member state, the basis of accrual of interest expressed in this Agreement in respect of that currency shall be inconsistent with any convention or practice in the
London interbank market for the basis of accrual of interest in respect of the Euro, such expressed basis shall be replaced by such convention or practice with effect from the date on which such member state adopts the Euro as its lawful currency;
provided that if any Borrowing in the currency of such member state is outstanding immediately prior to such date, such replacement shall take effect, with respect to such Borrowing, at the end of the then current Interest Period. 

(b) Each provision of this Agreement shall be subject to such reasonable changes of construction as the Lender may from time to time specify to
be appropriate to reflect the adoption of the Euro by any member state of the European Union and any relevant market conventions or practices relating to the Euro. 

(c) Each provision of this Agreement also shall be subject to such reasonable changes of construction as the Lender may from time to time
specify to be appropriate to reflect a change in currency of any other country and any relevant market conventions or practices relating to the change in currency. 

  
 36 

 ARTICLE II 

COMMITMENTS AND CREDIT EXTENSIONS 

2.01 Loans. 

(a) Term Borrowings.  

(i) Danish Term Borrowing. The Lender has made a single loan to the
Danish Borrower, in Dollars, on the Closing Date in the principal amount of $9,200,000, of which $8,372,000 in principal amount is outstanding as of the Second Amendment Effective Date. The Danish Term Borrowing consists of the Danish Term Loan made
by the Lender pursuant to this Section 2.01(a)(i). The Danish Term Borrowing repaid or prepaid may not be reborrowed. The Danish Term Loan shall be a Eurocurrency Rate Loan. 

(aii) U.S.
 Term Borrowing. Subject to the terms and conditions set forth herein, the Lender agrees to make a single loan to the DanishU.S. Borrower, in Dollars, on the
ClosingSecond Amendment Effective Date in an amount not to exceed the U.S. Term Facility. The
U.S. Term Borrowing shall consist of athe U.S. Term Loan made by the
Lender pursuant to this Section 2.01(a)(ii). The U.S. Term Borrowing repaid or prepaid may not be reborrowed. The
U.S. Term Loan shall be amay be a Base Rate Loan or Eurocurrency Rate Loan;
provided, however, any Term Borrowing made on the Closing Date or any of the three (3) Business Days following the Closing Date shall only be made in the event
Danish Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such Term BorrowingLoans, as further provided herein.
Notwithstanding the foregoing, any portion of the U.S. Term Commitment pursuant to this Section 2.01(a)(ii) not utilized on
the ClosingSecond Amendment Effective Date shall be terminated. 

(b) Revolving Borrowings. Subject to the terms and conditions set forth herein, the Lender agrees to make loans (each such loan, a
“Revolving Loan”) to the U.S. Borrower, in Dollars or in one or more Alternative Currencies, from time to time, on any Business Day during the Availability Period, in an aggregate amount not to exceed at any time outstanding the
amount of the Revolving Commitment; provided, however, that after giving effect to any Revolving Borrowing, (i) the Total Revolving Outstandings shall not exceed the Revolving Facility and (ii) the aggregate Outstanding
Amount of all Loans denominated in Alternative Currencies shall not exceed the Alternative Currency Sublimit. Within the limits of the Revolving Commitment, and subject to the other terms and conditions hereof, the U.S. Borrower may borrow Revolving
Loans, prepay under Section 2.05, and reborrow under this Section 2.01(b). Revolving Loans may be Base Rate Loans or Eurocurrency Rate Loans, as further provided herein; provided, however, any Revolving Borrowings made on the
Closing Date or any of the three (3) Business Days following the Closing Date shall be made as Base Rate Loans unless the U.S. Borrower delivers a Funding Indemnity Letter not less than three (3) Business Days prior to the date of such
Revolving Borrowing. 
 2.02 Borrowings, Conversions and Continuations of Loans. 

(a) Notice of Borrowing. Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate
Loans shall be made upon the applicable Borrower’s irrevocable notice to the Lender, which may be given by (A) telephone or (B) a Loan Notice; provided that any telephonic notice must be confirmed immediately by delivery to the
Lender of a Loan Notice. Each such notice must be received by the Lender not later than 11:00 a.m. (i) three (3) Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate

  
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Loans denominated in Dollars or of any conversion of Eurocurrency Rate Loans denominated in Dollars to Base Rate Loans, (ii) four (4) Business Days (or five (5) Business Days in
the case of a Special Notice Currency) prior to the requested date of any Borrowing or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, and (iii) on the requested date of any Borrowing of Base Rate Loans;
provided, however, that if a Borrower wishes to request Eurocurrency Rate Loans having an Interest Period other than one (1), two (2) or three (3) months in duration as provided in the definition of “Interest
Period”, the applicable notice must be received by the Lender not later than 11:00 a.m. (i) four (4) Business Days prior to the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated
in Dollars, or (ii) five (5) Business Days (or six (6) Business Days in the case of a Special Notice Currency) prior to the requested date of such Borrower, conversion or continuation of Eurocurrency Rate Loans denominated in
Alternative Currencies. Not later than 11:00 a.m., (i) three (3) Business Days before the requested date of such Borrowing, conversion or continuation of Eurocurrency Rate Loans denominated in Dollars, or (ii) four
(4) Business Days (or five (5) Business Days in the case of a Special Notice Currency) prior to the requested date of such Borrower, conversion or continuation of Eurocurrency Rate Loans denominated in Alternative Currencies, the Lender
shall notify the Borrowers (which notice may be by telephone) whether or not the requested Interest Period is available. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be, unless otherwise agreed by Lender, in a
principal amount of the Dollar Equivalent of $250,000 or a whole multiple of the Dollar Equivalent of $100,000 in excess thereof (or, in connection with any conversion or continuation of a Term Loan, if less, the entire principal thereof then
outstanding). Except as provided in Section 2.03(c), each Borrowing of or conversion to Base Rate Loans shall be, unless otherwise agreed by Lender, in a principal amount of the Dollar Equivalent of $250,000 or a whole multiple of the Dollar
Equivalent of $100,000 in excess thereof (or, in connection with any conversion or continuation of a Term Loan, if less, the entire principal thereof then outstanding). Each Loan Notice (whether telephonic or written) shall specify (A) the
applicable Facility and whether the applicable Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Loans, as the case may be, under such Facility, (B) the requested date of the Borrowing,
conversion or continuation, as the case may be (which shall be a Business Day), (C) the principal amount of Loans to be borrowed, converted or continued, (D) the Type of Loans to be borrowed or to which existing Loans are to be converted,
(E) if applicable, the duration of the Interest Period with respect thereto, and (F) the currency of the Loans to be borrowed. If the Company fails to specify a currency in a Loan Notice requesting a Borrowing, then the Loans so requested
shall be made in Dollars. If a Borrower fails to specify a Type of Loan in a Loan Notice or if a Borrower fails to give a timely notice requesting a conversion or continuation, then the applicable Loans
(other than Danish Term Loans) shall be made as, or converted to, Base Rate Loans; provided, however, that in the case of a failure to timely request a continuation of
Danish Term Loans or Loans denominated in an Alternative Currency, such Loans shall be continued as Eurocurrency Rate Loans in their original currency with an Interest Period of one
(1) month. Any such automatic conversion to Base Rate Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable Eurocurrency Rate Loans. If a Borrower requests a Borrowing of, conversion
to, or continuation of Eurocurrency Rate Loans in any such Loan Notice, but fails to specify an Interest Period, it will be deemed to have specified an Interest Period of one (1) month. Except as permitted pursuant to Section 2.02(c), no
Loan may be converted into or continued as a Loan denominated in a different currency, but instead must be repaid in the original currency of such Loan and reborrowed in the other currency. 

(b) Advances. Following receipt of a Loan Notice for a Facility, upon satisfaction of the applicable conditions set forth in
Section 4.02 (and, if such Borrowing is the initial Credit Extension, Section 4.01), the Lender shall make the requested funds available to the applicable Borrower either by (i) crediting the account of the Borrowers on the books of
Bank of America with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with instructions provided to (and reasonably acceptable to) the Lender by the Borrowers. 

  
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 (c) Eurocurrency Rate Loans. Except as otherwise provided herein, a Eurocurrency Rate Loan
may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan. During the existence of a Default, no Loans (other than Danish Term Loans) may be
requested as, converted to or continued as Eurocurrency Rate Loans without the consent of the Lender, and the Lender may demand that any or all of the outstanding Eurocurrency Rate Loans denominated in Dollars
(other than Danish Term Loans) be converted immediately to Base Rate Loans and any or all of the then outstanding Eurocurrency Rate Loans denominated in an Alternative Currency be prepaid,
or redenominated into Dollars in the amount of the Dollar Equivalent thereof, on the last day of the then current Interest Period with respect thereto. 

(d) Interest Periods. After giving effect to all Danish Term Borrowings, all
conversions of Danish Term Loans from one Type to the other, and all continuations of Danish Term Loans as the same Type, there
shall not be more than three (3) Interest Periods in effect in respect of the Danish Term Facility. After giving effect to all U.S. Term Borrowings, all conversions of U.S. Term Loans from
one Type to the other, and all continuations of U.S. Term Loans as the same Type, there shall not be more than three (3) Interest Periods in effect in respect of the U.S. Term Facility. After giving effect to all Revolving Borrowings, all
conversions of Revolving Loans from one Type to the other, and all continuations of Revolving Loans as the same Type, there shall not be more than five (5) Interest Periods in effect in respect of the Revolving Facility. 

2.03 Letters of Credit. 
 (a)
The Letter of Credit Commitment. 
 (i) Subject to the terms and conditions set forth herein, the Lender agrees
(A) from time to time on any Business Day during the period from the Closing Date until the Letter of Credit Expiration Date, to issue Letters of Credit for the account of the Company or any of its domestic Subsidiaries or, in the Lender’s
sole and absolute discretion any of its Foreign Subsidiaries, and to amend or extend Letters of Credit previously issued by it, in accordance with Section 2.03(b), and (B) to honor drawings under the Letters of Credit; provided that
after giving effect to any L/C Credit Extension with respect to any Letter of Credit, (x) the Total Revolving Outstandings shall not exceed the Revolving Facility and (y) the Outstanding Amount of the L/C Obligations shall not exceed the
Letter of Credit Sublimit. Each request by the U.S. Borrower for the issuance or amendment of a Letter of Credit shall be deemed to be a representation by the U.S. Borrower that the L/C Credit Extension so requested complies with the conditions set
forth in the proviso to the preceding sentence. Within the foregoing limits, and subject to the terms and conditions hereof, the U.S. Borrower’s ability to obtain Letters of Credit shall be fully revolving, and accordingly the U.S. Borrower
may, during the foregoing period, obtain Letters of Credit to replace Letters of Credit that have expired or that have been drawn upon and reimbursed. 

(ii) The Lender shall not be under any obligation to issue any Letter of Credit if: 

(A) subject to Section 2.03(b)(iii), the expiry date of the requested Letter of Credit would occur more than twelve
(12) months after the date of issuance or last extension, unless the Lender has approved such expiry date; or 
 (B) the
expiry date of the requested Letter of Credit would occur after the Letter of Credit Expiration Date, unless the Lender has approved such expiry date. 

  
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 (C) any order, judgment or decree of any Governmental Authority or arbitrator
shall by its terms purport to enjoin or restrain the Lender from issuing the Letter of Credit, or any Law applicable to the Lender or any request or directive (whether or not having the force of law) from any Governmental Authority with jurisdiction
over the Lender shall prohibit, or request that the Lender refrain from, the issuance of letters of credit generally or the Letter of Credit in particular or shall impose upon the Lender with respect to the Letter of Credit any restriction, reserve
or capital requirement (for which the Lender is not otherwise compensated hereunder) not in effect on the Closing Date, or shall impose upon the Lender any unreimbursed loss, cost or expense which was not applicable on the Closing Date and which the
Lender in good faith deems material to it; 
 (D) the issuance of the Letter of Credit would violate one or more policies of
the Lender applicable to letters of credit generally; 
 (E) except as otherwise agreed by the Lender, the Letter of Credit
is in an initial stated amount less than $50,000; 
 (F) except as otherwise agreed by the Lender, the Letter of Credit is to
be denominated in a currency other than Dollars or an Alternative Currency; 
 (G) the Letter of Credit contains any
provisions for automatic reinstatement of the stated amount after any drawing thereunder; or 
 (H) the Lender does not as of
the issuance date of the requested Letter of Credit issue Letters of Credit in the requested currency. 
 (iii) The Lender
shall be under no obligation to amend any Letter of Credit if (A) the Lender would have no obligation at such time to issue such Letter of Credit in its amended form under the terms hereof, or (B) the beneficiary of such Letter of Credit
does not accept the proposed amendment to the Letter of Credit. 
 (b) Procedures for Issuance and Amendment of Letters of Credit;
Auto-Extension Letters of Credit. 
 (i) Each Letter of Credit shall be issued or amended, as the case may be, upon the
request of the U.S. Borrower delivered to the Lender in the form of a Letter of Credit Application, appropriately completed and signed by a Responsible Officer of the U.S. Borrower and/or such Subsidiary, as required by the L/C Issuer. Such Letter
of Credit Application may be sent by fax transmission, by United States mail, by overnight courier, by electronic transmission using the system provided by the Lender, by personal delivery or by any other means acceptable to the Lender. Such Letter
of Credit Application must be received by the Lender not later than 11:00 a.m. at least five (5) Business Days (or such later date and time as the Lender may agree in a particular instance in its sole discretion) prior to the proposed issuance
date or date of amendment, as the case may be. In the case of a request for an initial issuance of a Letter of Credit, such Letter of Credit Application shall specify in form and detail satisfactory to the Lender: (A) the proposed issuance date
of the requested Letter of Credit (which shall be a Business Day); (B) the amount and currency thereof and in the absence of specification of currency shall be deemed a request for a Letter of Credit denominated in Dollars; (C) the expiry
date thereof; (D) the name and address of the beneficiary thereof; (E) the documents to be presented by such beneficiary in case of any drawing thereunder; (F) the full text of any certificate to be presented by such beneficiary in
case of any drawing thereunder; (G) the purpose and nature of the requested Letter of Credit; and (H) such other matters as the Lender may require. In the case of a request for an amendment of any outstanding Letter of Credit, such

  
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Letter of Credit Application shall specify in form and detail satisfactory to the Lender (1) the Letter of Credit to be amended; (2) the proposed date of amendment thereof (which shall
be a Business Day); (3) the nature of the proposed amendment; and (4) such other matters as the Lender may require. Additionally, the U.S. Borrower shall furnish to the Lender such other documents and information pertaining to such
requested Letter of Credit issuance or amendment, including any Issuer Documents, as the Lender may require. 
 (ii) Promptly
after its delivery of any Letter of Credit or any amendment to a Letter of Credit to an advising bank with respect thereto or to the beneficiary thereof, the Lender will also deliver to the U.S. Borrower a true and complete copy of such Letter of
Credit or amendment. 
 (iii) If the U.S. Borrower so requests in any applicable Letter of Credit Application, the Lender
may, in its sole discretion, agree to issue a standby Letter of Credit that has automatic extension provisions (each, an “Auto-Extension Letter of Credit”); provided that any such Auto-Extension Letter of Credit must permit
the Lender to prevent any such extension at least once in each twelve (12) month period (commencing with the date of issuance of such Letter of Credit) by giving prior notice to the beneficiary thereof not later than a day (the
“Non-Extension Notice Date”) in each such twelve (12) month period to be agreed upon at the time such Letter of Credit is issued. Unless otherwise directed by the Lender, the U.S. Borrower shall not be required to make a
specific request to the Lender for any such extension. Once an Auto-Extension Letter of Credit has been issued, the Lender shall permit the extension of such Letter of Credit at any time to an expiry date not later than the Letter of Credit
Expiration Date; provided, however, that the Lender shall not permit any such extension if (A) the Lender has determined that it would not be permitted, or would have no obligation at such time to issue such Letter of Credit in
its revised form (as extended) under the terms hereof (by reason of the provisions of clause (ii) or (iii) of Section 2.03(a) or otherwise), or (B) it has received notice (which may be by telephone or in writing) on or before the
day that is seven (7) Business Days before the Non-Extension Notice Date from the U.S. Borrower that one or more of the applicable conditions specified in Section 4.02 is not then satisfied, and directing the Lender not to permit such
extension. 
 (iv) If the U.S. Borrower so requests in any applicable Letter of Credit Application, the Lender may, in its
sole discretion, agree to issue a Letter of Credit that permits the automatic reinstatement of all or a portion of the stated amount thereof after any drawing thereunder (each, an “Auto-Reinstatement Letter of Credit”). Unless
otherwise directed by the Lender, the U.S. Borrower shall not be required to make a specific request to the Lender to permit such reinstatement. Once an Auto-Reinstatement Letter of Credit has been issued, except as provided in the following
sentence, the Lender may reinstate all or a portion of the stated amount thereof in accordance with the provisions of such Letter of Credit. Notwithstanding the foregoing, if such Auto-Reinstatement Letter of Credit permits the Lender to decline to
reinstate all or any portion of the stated amount thereof after a drawing thereunder by giving notice of such non-reinstatement within a specified number of days after such drawing (the “Non-Reinstatement Deadline”), the Lender
shall not permit such reinstatement if it has received a notice (which may be by telephone or in writing) on or before the day that is seven (7) Business Days before the Non-Reinstatement Deadline from the U.S. Borrower that one or more of the
applicable conditions specified in Section 4.02 is not then satisfied (treating such reinstatement as an L/C Credit Extension for purposes of this clause) and directing the Lender not to permit such reinstatement. 

  
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 (c) Drawings and Reimbursements. Upon receipt from the beneficiary of any Letter of Credit
of any notice of a drawing under such Letter of Credit, the Lender shall notify the U.S. Borrower thereof. In the case of a Letter of Credit denominated in an Alternative Currency, the Company shall reimburse the Lender in such Alternative Currency,
unless (i) the Lender (at its option) shall have specified in such notice that it will require reimbursement in Dollars, or (ii) in the absence of any such requirement for reimbursement in Dollars, the Company shall have notified the
Lender promptly following receipt of the notice of drawing that the Company will reimburse the Lender in Dollars. In the case of any such reimbursement in Dollars of a drawing under a Letter of Credit denominated in an Alternative Currency, the
Lender shall notify the Company of the Dollar Equivalent of the amount of the drawing promptly following the determination thereof. Not later than 2:00 p.m. on the date of any payment by the Lender under a Letter of Credit to be reimbursed in
Dollars, or the Applicable Time on the date of any payment by the Lender under a Letter of Credit to be reimbursed in an Alternative Currency (each such date, an “Honor Date”), the U.S. Borrower shall reimburse the Lender in an
amount equal to the amount of such drawing and in the applicable currency. In the event that (A) a drawing denominated in an Alternative Currency is to be reimbursed in Dollars pursuant to the second sentence in this Section 2.03(c) and
(B) the Dollar amount paid by the Company, whether on or after the Honor Date, shall not be adequate on the date of that payment to purchase in accordance with normal banking procedures a sum denominated in the Alternative Currency equal to the
drawing, the Company agrees, as a separate and independent obligation, to indemnify the Lender for the loss resulting from its inability on that date to purchase the Alternative Currency in the full amount of the drawing. If the U.S. Borrower fails
to so reimburse the Lender by such time, the U.S. Borrower shall be deemed to have requested a Revolving Borrowing of Base Rate Loans to be disbursed on the Honor Date in an amount equal to the amount of the unreimbursed drawing (expressed in
Dollars in the amount of the Dollar Equivalent thereof in the case of a Letter of Credit denominated in an Alternative Currency) (the “Unreimbursed Amount”), without regard to the minimum and multiples specified in Section 2.02
for the principal amount of Base Rate Loans. Any notice given by the Lender pursuant to this Section 2.03(c) may be given by telephone if immediately confirmed in writing; provided that the lack of such an immediate confirmation shall
not affect the conclusiveness or binding effect of such notice. 
 (d) Obligations Absolute. The obligation of the U.S. Borrower to
reimburse the Lender for each drawing under each Letter of Credit shall be absolute, unconditional and irrevocable, and shall be paid strictly in accordance with the terms of this Agreement under all circumstances, including the following: 

(i) any lack of validity or enforceability of such Letter of Credit, this Agreement, or any other Loan Document; 

(ii) the existence of any claim, counterclaim, setoff, defense or other right that the U.S. Borrower or any Subsidiary may have
at any time against any beneficiary or any transferee of such Letter of Credit (or any Person for whom any such beneficiary or any such transferee may be acting), the Lender or any other Person, whether in connection with this Agreement or by such
Letter of Credit, the transactions contemplated hereby or any agreement or instrument relating thereto, or any unrelated transaction; 

(iii) any draft, demand, endorsement, certificate or other document presented under or in connection with such Letter of Credit
proving to be forged, fraudulent, invalid or insufficient in any respect or any statement therein being untrue or inaccurate in any respect; or any loss or delay in the transmission or otherwise of any document required in order to make a drawing
under such Letter of Credit; 
 (iv) waiver by the Lender of any requirement that exists for the Lender’s protection and
not the protection of the U.S. Borrower or any waiver by the Lender which does not in fact materially prejudice the U.S. Borrower; 

  
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 (v) honor of a demand for payment presented electronically even if such Letter of
Credit requires that demand be in the form of a draft; 
 (vi) any payment made by the Lender in respect of an otherwise
complying item presented after the date specified as the expiration date of, or the date by which documents must be received under, such Letter of Credit if presentation after such date is authorized by the UCC, the ISP or the UCP, as applicable;

 (vii) any payment by the Lender under such Letter of Credit against presentation of a draft or certificate that does not
strictly comply with the terms of such Letter of Credit; or any payment made by the Lender under such Letter of Credit to any Person purporting to be a trustee in bankruptcy, debtor-in-possession, assignee for the benefit of creditors, liquidator,
receiver or other representative of or successor to any beneficiary or any transferee of such Letter of Credit, including any arising in connection with any proceeding under any Debtor Relief Law; 

(viii) any other circumstance or happening whatsoever, whether or not similar to any of the foregoing, including any other
circumstance that might otherwise constitute a defense available to, or a discharge of, the Company or any of its Subsidiaries; or 

(ix) any adverse change in the relevant exchange rates or in the availability of the relevant Alternative Currency to the
Company or any Subsidiary or in the relevant currency markets generally. 
 The U.S. Borrower shall promptly examine a copy of each Letter
of Credit and each amendment thereto that is delivered to it and, in the event of any claim of noncompliance with the U.S. Borrower’s instructions or other irregularity, the U.S. Borrower will immediately notify the Lender. The U.S. Borrower
shall be conclusively deemed to have waived any such claim against the Lender and its correspondents unless such notice is given as aforesaid. 

(e) Role of the Lender. The Lender and the U.S. Borrower agree that, in paying any drawing under a Letter of Credit, the Lender shall
not have any responsibility to obtain any document (other than any sight or time draft, certificates and documents expressly required by the Letter of Credit) or to ascertain or inquire as to the validity or accuracy of any such document or the
authority of the Person executing or delivering any such document. The U.S. Borrower hereby assumes all risks of the acts or omissions of any beneficiary or transferee with respect to its use of any Letter of Credit; provided, however,
that this assumption is not intended to, and shall not, preclude the U.S. Borrower’s pursuing such rights and remedies as it may have against the beneficiary or transferee at law or under any other agreement. None of the Lender, any of its
Related Parties nor any correspondent, participant or assignee of the Lender shall be liable or responsible for any of the matters described in Section 2.03(d). In furtherance and not in limitation of the foregoing, the Lender may accept
documents that appear on their face to be in order, without responsibility for further investigation, regardless of any notice or information to the contrary, and the Lender shall not be responsible for the validity or sufficiency of any instrument
transferring, endorsing or assigning or purporting to transfer, endorse or assign a Letter of Credit or the rights or benefits thereunder or proceeds thereof, in whole or in part, which may prove to be invalid or ineffective for any reason. The
Lender may send a Letter of Credit or conduct any communication to or from the beneficiary via the Society for Worldwide Interbank Financial Telecommunication (“SWIFT”) message or overnight courier, or any other commercially
reasonable means of communicating with a beneficiary. 

  
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 (f) Applicability of ISP and UCP; Limitation of Liability. Unless otherwise expressly
agreed by the Lender and the U.S. Borrower when a Letter of Credit is issued (including any such agreement applicable to an Existing Letter of Credit), the rules of the ISP shall apply to each standby Letter of Credit. Notwithstanding the
foregoing, the Lender shall not be responsible to the U.S. Borrower for, and the Lender’s rights and remedies against the U.S. Borrower shall not be impaired by, any action or inaction of the Lender required or permitted under any law, order,
or practice that is required or permitted to be applied to any Letter of Credit or this Agreement, including the Law or any order of a jurisdiction where the Lender or the beneficiary is located, the practice stated in the ISP or UCP, as applicable,
or in the decisions, opinions, practice statements, or official commentary of the ICC Banking Commission, the Bankers Association for Finance and Trade - International Financial Services Association (BAFT-IFSA), or the Institute of International
Banking Law & Practice, whether or not any Letter of Credit chooses such law or practice. 
 (g) Letter of Credit Fees. The
U.S. Borrower shall pay to the Lender a Letter of Credit fee (the “Letter of Credit Fee”) for each Letter of Credit equal to the Applicable Rate times the Dollar Equivalent of the daily amount available to be drawn under such Letter
of Credit. For purposes of computing the daily amount available to be drawn under any Letter of Credit, the amount of such Letter of Credit shall be determined in accordance with Section 1.06. Letter of Credit Fees shall be (A) due and
payable on the first Business Day following each fiscal quarterFiscal Quarter end, commencing with the first such date to occur after the issuance of such Letter of Credit,
on the Letter of Credit Expiration Date and thereafter on demand and (B) computed on a quarterly basis in arrears. If there is any change in the Applicable Rate during any quarter, the daily amount available to be drawn under each Letter of
Credit shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

(h) Conflict with Issuer Documents. In the event of any conflict between the terms hereof and the terms of any Issuer Document, the
terms hereof shall control. 
 (i) Letters of Credit Issued for Subsidiaries. Notwithstanding that a Letter of Credit issued or
outstanding hereunder is in support of any obligations of, or is for the account of, a Subsidiary, the U.S. Borrower shall be obligated (and in no event shall the Danish Borrower, any Danish Guarantor or any Foreign Subsidiary be obligated) to
reimburse the Lender hereunder for any and all drawings under such Letter of Credit. The Borrowers hereby acknowledge that the issuance of Letters of Credit for the account of Subsidiaries inures to the benefit of the U.S. Borrower, and that the
U.S. Borrower’s business derives substantial benefits from the businesses of such Subsidiaries. 
 2.04 Reserved. 

2.05 Prepayments. 
 (a)
Optional. The Borrowers may, upon notice to the Lender pursuant to delivery to the Lender of a Notice of Loan Prepayment, at any time or from time to time voluntarily prepay Term Loans and/or Revolving Loans in whole or in part without
premium or penalty subject to Section 3.05; provided that, unless otherwise agreed by the Lender (A) such notice must be received by Lender not later than 11:00 a.m. (1) three (3) Business Days prior to any date of prepayment of
Eurocurrency Rate Loans denominated in Dollars, (2) four (4) Business Days (or five (5), in the case of prepayment of Loans denominated in Special Notice Currencies) prior to any date of prepayment of Eurocurrency Rate Loans denominated in
Alternative Currencies, and (3) on the date of prepayment of Base Rate Loans; (B) any prepayment of Eurocurrency Rate Loans denominated in Dollars shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess
thereof; (C) any prepayment of Eurocurrency Rate Loans denominated in Alternative Currencies shall be in a minimum principal amount of $250,000 or a whole multiple of $100,000 in excess thereof; and (D) any prepayment of Base Rate Loans
shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof or, in each case, if less, 

  
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the entire principal amount thereof then outstanding. Each such notice shall specify the date, the currency and amount of such prepayment and the Type(s) of Loans to be prepaid and, if
Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. If such notice is given by the Borrowers, the Borrowers shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date
specified therein. Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any additional amounts required pursuant to Section 3.05. Each prepayment of the outstanding
Danish Term Loans pursuant to this Section 2.05(a) shall be applied to the principal repayment installments thereof in inverse order of
maturity. Each prepayment of the outstanding U.S. Term Loans pursuant to this Section 2.05(a) shall be applied to the principal repayment installments thereof in inverse order of
maturity. 
 (b) Mandatory. 

(i) Dispositions and Involuntary Dispositions. The Danish Borrower shall prepay the
Danish Term Loan and the U.S. Borrower shall prepay the U.S. Term Loan and the Revolving Loans and/or Cash Collateralize the L/C
Obligations as hereinafter provided in an aggregate amount equal to 100% of the Net Cash Proceeds (A) received by any Loan Party or any Subsidiary with respect to the U.S.
Borrower’s obligations to prepay or (B) received by any Foreign Obligor with respect to the Danish Borrower’s obligations to prepay, from all Dispositions (other than
Permitted Transfers) and Involuntary Dispositions within five (5) days of the date of such Disposition or Involuntary Disposition, provided that such prepayment shall only be made to the extent Net Cash Proceeds exceeds $1,000,000 in the
aggregate in a fiscal year. 
 (ii) Equity Issuance. Immediately upon the receipt by any Loan
Party(A) the U.S. Borrower or any Domestic Subsidiary with respect to the U.S. Borrower’s obligations to prepay or
(B) any Foreign Obligor or any Foreign Subsidiary with respect to the Danish Borrower’s obligations to
prepay, of the Net Cash Proceeds of any Equity Issuance that are not used or to be used within thirty (30) days to consummate a Permitted Acquisition, the U.S. Borrower shall prepay
the U.S. Term Loan and the Revolving Loans and/or Cash Collateralize the L/C Obligations and the Danish Borrower shall prepay the
Danish Term Loan or Danish Borrower, as applicable, as hereinafter provided in an aggregate amount equal to 100% of such Net Cash Proceeds. 

(iii) Debt Issuance. Immediately upon the receipt by any Loan
Party(A) the U.S. Borrower or any Domestic Subsidiary with respect to the U.S. Borrower’s obligations to prepay or
(B) any Foreign Obligor or any Foreign Subsidiary with respect to the Danish Borrower’s obligations to prepay, of the
Net Cash Proceeds of any Debt Issuance, the U.S. Borrower shall prepay the U.S. Term Loan and the Revolving Loans and/or Cash Collateralize the L/C Obligations and the Danish Borrower shall
prepay the Danish Term Loan, as applicable, as hereinafter provided in an aggregate amount equal to 100% of such Net Cash Proceeds. 

(iv) Extraordinary Receipts. Immediately upon receipt by any Loan
Party(A) the U.S. Borrower or any Domestic Subsidiary with respect to the U.S. Borrower’s obligations to prepay or
(B) any Foreign Obligor or any Foreign Subsidiary with respect to the Danish Borrower’s obligations to
prepay, of any Extraordinary Receipt received by or paid to or for the account of any Loan Party or any of its Subsidiaries, and not otherwise included in clause (i), (ii) or
(iii) of this Section, the U.S. Borrower shall prepay the U.S. Term Loan and the Revolving Loans and/or Cash Collateralize the L/C Obligations and the Danish Borrower shall prepay the
Danish Term LoansLoan, as applicable, as hereinafter provided in an aggregate principal amount equal to 100% of
all Net Cash Proceeds received therefrom. 

  
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 (v) Application of Payments. Each prepayment of Loans pursuant to the
foregoing provisions of Section 2.05(b)(i)-(iv) shall be applied, first, to the principal repayment installments of the relevant Term Loan in inverse order of maturity, including,
without limitation, the final principal repayment installment on the Maturity Date, and, second, if such prepayment is by the U.S. Borrower, to the Revolving Facility in the manner set forth in clause (vii) of this Section 2.05(b). 

(vi) Revolving Outstandings. If for any reason the Total Revolving Outstandings at any time exceed the Revolving
Facility at such time (including without limitation by reason of the decrease of the Revolving Commitment on the Second Amendment Effective Date), the U.S. Borrower shall immediately prepay
Revolving Loans (together with all accrued but unpaid interest thereon) and/or Cash Collateralize the L/C Obligations in an aggregate amount equal to such excess; provided, however, that the U.S. Borrower shall not be required to Cash Collateralize
the L/C Obligations pursuant to this Section 2.05(b)(vi) unless, after the prepayment of the Revolving Loans, the Total Revolving Outstandings exceed the Revolving Facility at such time. 

(vii) Application of Other Payments. Prepayments of the Revolving Facility made pursuant to this Section 2.05(b),
first, shall be applied to the outstanding Revolving Loans, and, second, shall be used to Cash Collateralize the remaining L/C Obligations; and, in the case of prepayments of the Revolving Facility required pursuant to clause (i),
(ii), (iii) or (iv) of this Section 2.05(b), the amount remaining, if any, after the prepayment in full of all Revolving Loans outstanding at such time and the Cash Collateralization of the remaining L/C Obligations in full (the sum
of such prepayment amounts, cash collateralization amounts and remaining amount being, collectively, the “Revolving Prepayment Amounts”) may be retained by the U.S. Borrower and its Domestic Subsidiaries for use in the ordinary
course of its business, and the Revolving Facility shall not be automatically reduced by any Revolving Prepayment Amount. Upon the drawing of any Letter of Credit that has been Cash Collateralized, the funds held as Cash Collateral shall be applied
(without any further action by or notice to or from the U.S. Borrower or any other Loan Party that has provided Cash Collateral) to reimburse the Lender. 

(viii) Alternative Currencies. If the Lender notifies the Company at any time that the Outstanding Amount of all Loans
and L/C Obligations denominated in Alternative Currencies at such time exceeds an amount equal to 105% of the Alternative Currency Sublimit then in effect, then, within two (2) Business Days after receipt of such notice, the Borrowers shall
prepay Loans and/or Cash Collateralize Letters of Credit in an aggregate amount sufficient to reduce such Outstanding Amount as of such date of payment to an amount not to exceed 100% of the Alternative Currency Sublimit then in effect. 

Within the parameters of the applications set forth above, prepayments pursuant to this Section 2.05(b) shall be applied first to Base
Rate Loans and then to Eurocurrency Rate Loans in direct order of Interest Period maturities. All prepayments under this Section 2.05(b) shall be subject to Section 3.05, but otherwise without premium or penalty, and shall be accompanied
by interest on the principal amount prepaid through the date of prepayment. 
 2.06 Termination or Reduction of Commitments. 

(a) Optional. The U.S. Borrower may, upon notice to the Lender, terminate the Revolving Facility or the Letter of Credit Sublimit, or
from time to time permanently reduce the Revolving Facility or the Letter of Credit Sublimit; provided that (i) any such notice shall be received by the Lender not later than 11:00 a.m. five (5) Business Days prior to the date of
termination or reduction, (ii) any such partial 

  
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reduction shall be in an aggregate amount of $500,000 or any whole multiple of $100,000 in excess thereof and (iii) the U.S. Borrower shall not terminate or reduce (A) the Revolving
Facility if, after giving effect thereto and to any concurrent prepayments hereunder, the Total Revolving Outstandings would exceed the Revolving Facility or (B) the Letter of Credit Sublimit if, after giving effect thereto, the Outstanding
Amount of L/C Obligations not fully Cash Collateralized hereunder would exceed the Letter of Credit Sublimit. 
 (b) Mandatory. 

(i) The aggregate Term Commitments shall be automatically and permanently reduced to zero on the date of the Term
Borrowing. 
 (i) The Danish Term Commitment has been
automatically and permanently reduced to zero on the Closing Date after the making of the Danish Term Loan on the Closing Date. The U.S. Term Commitment shall be automatically and permanently reduced to zero on the Second Amendment Effective Date
after the making of the U.S. Term Loan. 
 (ii) Reserved. 

(iii) If after giving effect to any reduction or termination of the
Revolving CommitmentsCommitment under this Section 2.06, the Letter of Credit Sublimit or the Alternative Currency Sublimit exceeds the Revolving Facility at such
time, the Letter of Credit Sublimit or the Alternative Currency Sublimit, as the case may be, shall be automatically reduced by the amount of such excess. 

(c) Payment of Fees. All fees in respect of the Revolving Facility accrued until the effective date of any termination of the Revolving
Facility shall be paid on the effective date of such termination. 
 2.07 Repayment of Loans. 

(a) Term Loans.  

(ai) Danish
 Term LoansLoan. The Borrowers shall repay to the Lender the aggregate principal amount of
allthe Danish Term LoansLoan outstanding on the following dates in the respective amounts set
forth opposite such dates (which amounts shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), unless accelerated sooner pursuant to Section 8.02; 

 

			
	 Last Day of Each Fiscal Quarter During each Fiscal Year Below:
	  	 Principal Repayment Installments

		
	2018 Fiscal Year ending January 31, 2018	  	$276,000 per Fiscal Quarter
		
	2019 Fiscal Year ending January 31, 2019	  	$368,000 per Fiscal Quarter
		
	2020 Fiscal Year ending January 31, 2020	  	$460,000 per Fiscal Quarter
		
	2021 Fiscal Year ending January 31, 2021	  	$552,000 per Fiscal Quarter
		
	2022 Fiscal Year ending January 31, 2022	  	$644,000 per Fiscal Quarter
		
	Maturity Date in respect of the Danish Term Facility	  	Remaining Principal Amount Outstanding

  
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 provided, however, that (i) the final principal repayment installment of the
Danish Term LoansLoan shall be repaid on the Maturity Date for the
Danish Term Facility and in any event shall be in an amount equal to the aggregate principal amount of all Danish Term Loans
outstanding on such date and (ii) (A) if any principal repayment installment to be made by the Borrowers (other than principal repayment installments on Eurocurrency Rate Loans) shall come due on a day other than a Business Day, such
principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be and (B) if any principal repayment installment to be made by the
Borrowers on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the result of such extension would be to extend such principal
repayment installment into another calendar month, in which event such principal repayment installment shall be due on the immediately preceding Business Day. 

(ii) U.S. Term Loan. The U.S. Borrower shall repay to the Lender the aggregate
principal amount of the U.S. Term Loan outstanding in installments, with each payment of the U.S. Term Facility to be due and payable on the last day of each Fiscal Quarter of the Borrowers (commending with the Fiscal Quarter ending January 31,
2018) and each such quarterly payment to be in the amount of $750,000 (which amount shall be reduced as a result of the application of prepayments in accordance with the order of priority set forth in Section 2.05), unless accelerated sooner
pursuant to Section 8.02; provided, however, that (i) the final principal repayment installment of the U.S. Term Loan shall be repaid on the Maturity Date for the U.S. Term Facility and in any event shall be in an amount equal to the
aggregate principal amount of all U.S. Term Loans outstanding on such date and (ii) (A) if any principal repayment installment to be made by the U.S. Borrower (other than principal repayment installments on Eurocurrency Rate Loans) shall
come due on a day other than a Business Day, such principal repayment installment shall be due on the next succeeding Business Day, and such extension of time shall be reflected in computing interest or fees, as the case may be and (B) if any
principal repayment installment to be made by the U.S. Borrower on a Eurocurrency Rate Loan shall come due on a day other than a Business Day, such principal repayment installment shall be extended to the next succeeding Business Day unless the
result of such extension would be to extend such principal repayment installment into another calendar month, in which event such principal repayment installment shall be due on the immediately preceding Business Day. 

(b) Revolving Loans. The U.S. Borrower shall repay to the Lender on the Maturity Date for the Revolving Facility the aggregate principal
amount of all Revolving Loans outstanding on such date. 
 2.08 Interest and Default Rate. 

(a) Interest. Subject to the provisions of Section 2.08(b), (i) each Eurocurrency Rate Loan under a Facility shall bear
interest on the outstanding principal amount thereof for each Interest Period from the applicable borrowing date at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate for such Facility; and
(ii) each Base Rate Loan under a Facility shall bear interest on the outstanding principal amount thereof from the applicable borrowing date at a rate per annum equal to the Base Rate plus the Applicable Rate for such Facility. To the extent
that any calculation of interest or any fee required to be paid under this Agreement shall be based on (or result in) a rate that is less than zero, such rate shall be deemed zero for purposes of this Agreement. 

  
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 (b) Default Rate. 

(i) If any amount of principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at
stated maturity, by acceleration or otherwise, such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(ii) If any amount (other than principal of any Loan) payable by the Borrowers under any Loan Document is not paid when due
(without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Lender such amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to
the Default Rate to the fullest extent permitted by applicable Laws. 
 (iii) Upon the request of the Lender, while any Event
of Default exists (including a payment default), all outstanding Obligations (including Letter of Credit Fees) may accrue at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable
Laws. 
 (iv) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and
payable upon demand. 
 (c) Interest Payments. Interest on each Loan shall be due and payable in arrears on each Interest Payment Date
applicable thereto and at such other times as may be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any
Debtor Relief Law. 
 2.09 Fees. 

In addition to certain fees described in subsection (g) of Section 2.03: 

(a) Commitment Fee. The U.S. Borrower shall pay to the Lender a commitment fee in Dollars equal to the Applicable Rate times the actual
daily amount by which the Revolving Facility exceeds the sum of (i) the Outstanding Amount of Revolving Loans and (ii) the Outstanding Amount of L/C Obligations. The commitment fee shall accrue at all times during the Availability Period,
including at any time during which one or more of the conditions in Article IV is not met, and shall be due and payable quarterly in arrears on the last Business Day of each Fiscal Quarter, commencing with the first such date to occur after the
Closing Date, and on the last day of the Availability Period for the Revolving Facility. The commitment fee shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall
be computed and multiplied by the Applicable Rate separately for each period during such quarter that such Applicable Rate was in effect. 

(b) Other Fees. The Company shall pay to the Lender, in Dollars, such fees as shall have been separately agreed upon in writing in the
amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 
 2.10
Computation of Interest and Fees; Retroactive Adjustments of Applicable Rate. 
 (a) Computation of Interest and Fees. All
computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurocurrency Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of
fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more 

  
 49 

 
fees or interest, as applicable, being paid than if computed on the basis of a 365-day year), or, in the case of interest in respect of Loans denominated in Alternative Currencies as to which
market practice differs from the foregoing, in accordance with such market practice. Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or
such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.11, bear interest for one (1) day. Each determination by the Lender of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error. 
 (b) Financial Statement Adjustments or Restatements. If, as a
result of any restatement of or other adjustment to the financial statements of the Company and its Subsidiaries or for any other reason, the Borrowers or the Lender determines that (i) the Consolidated Leverage Ratio as calculated by the
Borrowers as of any applicable date was inaccurate and (ii) a proper calculation of the Consolidated Leverage Ratio would have resulted in higher pricing for such period, the Borrowers shall immediately and retroactively be obligated to pay to
the Lender promptly on demand by the Lender (or, after the occurrence of an actual or deemed entry of an order for relief with respect to the Borrowers under the Bankruptcy Code of the United States, automatically and without further action by the
Lender), an amount equal to the excess of the amount of interest and fees that should have been paid for such period over the amount of interest and fees actually paid for such period. This paragraph shall not limit the rights of the Lender under
any provision of this Agreement to payment of any Obligations hereunder at the Default Rate or under Article VIII. The Borrower’s obligations under this paragraph shall survive the termination of the Commitments and the repayment of all other
Obligations hereunder. 
 2.11 Payments Generally. 

All payments to be made by the Borrowers shall be made free and clear of and without condition or deduction for any counterclaim, defense,
recoupment or setoff. Except as otherwise expressly provided herein and except with respect to principal of and interest on Loans denominated in an Alternative Currency, all payments by the Borrowers hereunder shall be made to the Lender at the
Lender’s Office in Dollars and in Same Day Funds not later than 2:00 p.m. on the date specified herein. Except as otherwise expressly provided herein, all payments by the Borrowers hereunder with respect to principal and interest on Loans
denominated in an Alternative Currency shall be made to the Lender at the Lender’s Office in such Alternative Currency and in Same Day Funds not later than the Applicable Time specified by the Lender on the dates specified herein. Without
limiting the generality of the foregoing, the Lender may require that any payments due under this Agreement be made in the United States. If, for any reason, any Borrower is prohibited by any Law from making any required payment hereunder in an
Alternative Currency, such Borrower shall make such payment in Dollars in the Dollar Equivalent of the Alternative Currency payment amount. All payments received by the Lender (i) after 2:00 p.m., in the case of payments in Dollars, or
(ii) after the Applicable Time specified by the Lender, in the case of payments in an Alternative Currency, shall in each case be deemed received on the next succeeding Business Day and any applicable interest or fee shall continue to accrue.
Subject to Section 2.07(a) and as otherwise specifically provided for in this Agreement, if any payment to be made by the Borrowers shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and
such extension of time shall be reflected in computing interest or fees, as the case may be. 
 2.12 Cash Collateral. 

(a) Certain Credit Support Events. If (i) as of the Letter of Credit Expiration Date, any L/C Obligation for any reason remains
outstanding, or (ii) the U.S. Borrower shall be required to provide Cash Collateral pursuant to the terms hereof, the U.S. Borrower shall immediately following any request by the Lender, provide Cash Collateral in an amount not less than the
applicable Minimum Collateral Amount. 

  
 50 

 
Additionally, if the Lender notifies the Company at any time that the Outstanding Amount of all L/C Obligations at such time exceeds 105% of the Letter of Credit Sublimit then in effect, then
within two (2) Business Days after receipt of such notice, the U.S. Borrower shall provide Cash Collateral for the Outstanding Amount of the L/C Obligations in an amount not less than the amount by which the Outstanding Amount of all L/C
Obligations exceeds the Letter of Credit Sublimit. 
 (b) Grant of Security Interest. The U.S. Borrower hereby grants to (and subjects
to the control of) the Lender and agrees to maintain, a first priority security interest in all such cash, deposit accounts and all balances therein, and all other property so provided as collateral pursuant hereto, and in all proceeds of the
foregoing, all as security for the obligations to which such Cash Collateral may be applied pursuant to Section 2.12(c). If at any time the Lender determines that Cash Collateral is subject to any right or claim of any Person other than the
Lender, or that the total amount of such Cash Collateral is less than the Minimum Collateral Amount, the Borrowers will, promptly upon demand by the Lender, pay or provide to the Lender additional Cash Collateral in an amount sufficient to eliminate
such deficiency. All Cash Collateral (other than credit support not constituting funds subject to deposit) shall be maintained in one or more blocked, non-interest bearing deposit accounts at Bank of America. The U.S. Borrower shall pay on demand
therefor from time to time all customary account opening, activity and other administrative fees and charges in connection with the maintenance and disbursement of Cash Collateral. 

(c) Application. Notwithstanding anything to the contrary contained in this Agreement, Cash Collateral provided under any of this
Section 2.12 or Sections 2.03, 2.05 or 8.02 in respect of Letters of Credit shall be held and applied to the satisfaction of the specific L/C Obligations and other obligations for which the Cash Collateral was so provided, prior to any other
application of such property as may be provided for herein. 
 (d) Release. Cash Collateral (or the appropriate portion thereof)
provided to secure obligations shall be released promptly following the determination by the Lender that there exists excess Cash Collateral; provided, however, (i) any such release shall be without prejudice to, and any
disbursement or other transfer of Cash Collateral shall be and remain subject to, any other Lien conferred under the Loan Documents and the other applicable provisions of the Loan Documents, and (ii) the Person providing Cash Collateral and the
Lender may agree that Cash Collateral shall not be released but instead held to support future anticipated obligations. 
 2.13 Incremental
Commitments. 
 (a) Company Request. After the
ClosingSecond Amendment Effective Date, the Company may by written notice to the Lender request (x) commitments (each, an “Incremental Term Increase”)
to increase the aggregate principal amount of the existing Danish Term Facility or the existing U.S. Term Facility or to establish one or more new Term Facilities (each, an
“Incremental Term Facility”) and/or (y) commitments (each, an “Incremental Revolving Increase”) to increase the Revolving Credit
CommitmentsCommitment under the existing Revolving Credit Facility or to establish one or more new revolving facilities (each, an “Incremental Revolving
Credit Facility” and, together with any Incremental Term Increase, Incremental Term Facility and Incremental Revolving Increase, the “Incremental Facilities”) not to exceed $10,000,000 in the aggregate at the time any such
Incremental Facility is funded or established, as applicable, from the Lender in its sole discretion. Each such notice shall specify the date (each, an “Incremental Effective Date”) on which the Company proposes that the Incremental
Facility shall be effective, which shall be a date not less than 10 Business Days after the date on which such notice is delivered to the Lender (or such shorter period approved by the Lender); provided that, for the avoidance of doubt, the
Lender may elect or decline, in its sole discretion, to provide such Incremental Facility. Each Incremental Facility shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof (provided that such
amount may be less than $5,000,000 if such amount represents all remaining availability under the aggregate limit in respect of Incremental Facilities set forth in above). 

  
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 (b) Conditions. Each Incremental Facility shall become effective as of the Incremental
Effective Date; provided that: 
 (i) each of the conditions set forth in Section 4.02 shall be satisfied; 

(ii) as of the last day of the most recently ended Measurement Period, on a Pro Forma Basis after giving effect to the
incurrence of any Incremental Facility, any acquisition or investment consummated in connection therewith and all other appropriate pro forma adjustments (but (x) without netting any cash proceeds from such incurrence and
(y) treating any proposed Incremental Revolving Credit Facility or proposed Incremental Revolving Increase as fully drawn), the Company would be in Pro Forma Compliance; and 

(iii) the Company shall deliver or cause to be delivered officer’s certificates and legal opinions of the type delivered
on the Closing Date to the extent reasonably requested by, and in form and substance reasonably satisfactory to, the Lender. 
 (c) Terms
of Incremental Facilities. The terms and provisions of the Incremental Facilities shall be as follows: 
 (i) the terms
and provisions of (x) Revolving Credit Loans made pursuant to an Incremental Revolving Increase or an Incremental Revolving Credit Facility shall be identical to the
Revolving Credit Loans under the Revolving Credit Facility subject to such increase andor incremental revolving commitment,
(y) theany Danish Term Loans made pursuant to an Incremental Term Increase or an Incremental Term Facility
shall be identical to the Danish Term LoansLoan under the
Danish Term Facility subject to such increase; or incremental term commitment, and (z) any U.S. Term Loans made
pursuant to an Incremental Term Increase or an Incremental Term Facility shall be identical to the U.S. Term Loan under the U.S. Term Facility subject to such increase or incremental term commitment; 

(ii) the maturity date of any Incremental Term Facility in respect of
Danish Term Loan shall be the Maturity Date of the Danish Term Facility and the maturity date of any Incremental Term Facility in respect of U.S. Term Loan shall be the Maturity Date of the
U.S. Term Facility; and 
 (iii) each Incremental Facility shall be secured by a pari passu lien on the Collateral
securing the Facilities on terms and pursuant to documentation reasonably satisfactory to the Lender. 
 (d) Additional Credit Extension
Amendment. The Incremental Facilities shall be documented by an Additional Credit Extension Amendment executed by the Lender and the Borrowers, and the Additional Credit Extension Amendment may provide for such amendments to this Agreement and
the other Loan Documents as may be necessary or appropriate, in the reasonable opinion of the Lender and the Borrowers, to effect the provisions of this Section 2.13. 

(e) Making of New Term Loans. On any Incremental Effective Date on which new Commitments for
any Term Loans are effective, subject to the satisfaction of the foregoing terms and conditions, the Lender shall make a U.S.
Term Loan to the Company or a Danish Term Loan to the Danish Borrower, as the case may be, in an amount equal to its new applicable
Term Commitment. 

  
 52 

 (f) Equal and Ratable Benefit. The Loans and Commitments established pursuant to this
Section 2.13 shall constitute Loans and Commitments under, and shall be entitled to all the benefits afforded by, this Agreement and the other Loan Documents, and shall, without limiting the foregoing, benefit equally and ratably from the
Guaranties and security interests created by the Collateral Documents. The Loan Parties shall take any actions reasonably required by the Lender to ensure and/or demonstrate that the Lien and security interests granted by the Collateral Documents
continue to be perfected under the UCC or otherwise after giving effect to the establishment of any such Classclass of Loans or any such new Commitments. 

2.14 Register. 
 The Lender,
acting solely for this purpose as a non-fiduciary agent of each of the Borrowers, shall maintain an account or ledger in which it shall record (i) the names and addresses of any Persons owning an interest in any Loan or other Obligation made
hereunder, (ii) the amount of each Loan and Borrowing made hereunder, (iii) the amount of any principal due and payable or to become due and payable from each of the Borrower and the interest rate with respect thereto, and (iv) the
other details relating to the Loans and other Obligations (the “Register”). In order for any sale, assignment, grant of participation or other transfer of any Loan or other Obligation to become effective, the Lender shall amend such
Register to reflect any sale, assignment, grant of participation or other transfer otherwise properly affected pursuant to this Agreement. 
 2.15
Bifurcation. 
 For the avoidance of doubt, each of the Loan Parties and the Lender acknowledges and agrees that, notwithstanding
anything to the contrary in this Agreement or any of the other Loan Documents, the Obligations of the Foreign Obligors under this Agreement or any of the other Loan Documents shall be separate and distinct from the Obligations of the U.S. Loan
Parties and shall be expressly limited to the Foreign Obligations. In furtherance of the foregoing, each of the parties acknowledges and agrees that the liability of the Foreign Obligors for the payment and performance of its covenants,
representations and warranties set forth in this Agreement and the other Loan Documents shall be several from but not joint with the Obligations of the U.S. Loan Parties. 

ARTICLE III 
 TAXES,
YIELD PROTECTION AND ILLEGALITY 
 3.01 Taxes. 

(a) Except as required by applicable law, all payments to the Lender made by or on account of any obligation of any Loan Party hereunder or any
other Loan Document will be made without deduction or withholding for any Taxes with respect to such payments. If any Taxes are required by applicable law to be deducted or withheld, the applicable Loan Party agrees to pay the full amount of such
deducted or withheld Taxes to the relevant Governmental Authority and, to the extent such Taxes are Indemnified Taxes, the sum payable by the applicable Loan Party shall be increased as necessary so that after such deduction or withholding has been
made (including such deductions or withholdings applicable to additional sums payable under this Section 3.01(a)) the Lender receives an amount equal to the sum it would have received had no such deduction or withholding been made. 

  
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 (b) The applicable Loan Party shall timely pay to the relevant Governmental Authority in
accordance with applicable law, or at the option of the Lender timely reimburse it for the payment of, any Other Taxes. 
 (c) Without
duplication of any obligation under this Section 3.01, the applicable Loan Party will indemnify and hold harmless the Lender, and reimburse the Lender within ten (10) days after demand therefor, for the full amount of any Indemnified Taxes
payable or paid by the Lender or required to be withheld or deducted from a payment to the Lender by such Loan Party, and any reasonable expenses arising therefrom or with respect thereto, whether or not such Indemnified Taxes were correctly or
legally imposed or asserted by the relevant Governmental Authority. A certificate setting forth the amount of such payment or liability delivered to the Loan Party by the Lender shall be conclusive absent manifest error. The applicable Loan Party
will furnish to the Lender, within thirty (30) days after the date the payment of any withheld Taxes by the Loan Party to a Governmental Authority pursuant to Section 3.01 is due pursuant to applicable law, certified copies of tax
receipts, or other evidence reasonably satisfactory to the Lender, evidencing such payment by the Loan Party. 
 (d) The Lender shall deliver
to the applicable Loan Party on or prior to the date on which the Lender becomes the Lender under this Agreement (and from time to time thereafter upon the reasonable request of any Loan Party), properly completed and executed copies of IRS Form W-9
(or successor form) certifying that the Lender is exempt from U.S. backup withholding Tax. The Lender further agrees that if reasonably requested by the applicable Loan Party to the extent it is entitled to any other exemption from or a reduction of
withholding Tax with respect to payments made hereunder or under any other Loan Document, it shall deliver to such Loan Party, at the time or times reasonably requested by such Loan Party, such properly completed and executed documentation
prescribed by applicable law or the taxing authorities of a jurisdiction pursuant to such applicable law or reasonably requested by such Loan Party as will permit such payments to be made without withholding or at a reduced rate of withholding. In
addition, the Lender, if reasonably requested by a Loan Party, shall deliver such other documentation reasonably requested by a Loan Party as will enable such Loan Party to determine whether or not the Lender is subject to withholding or information
reporting requirements and to enable the Loan Party to comply with such requirements. The Lender agrees that if any form or certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall update such form or
certification or promptly notify the applicable Loan Party in writing of its legal inability to do so. Notwithstanding anything to the contrary in this Section 3.01, the completion, execution and submission of any documentation (other than the
IRS Form W-9 (or successor form) described in the first sentence of this Section 3.01(d) or information required to comply with the obligations of an applicable Loan Party under Common Reporting Standards) shall not be required if in the
Lender’s reasonable judgment such completion execution or submission would subject the Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of the Lender. 

(e) In addition to the foregoing, if the Lender claims any indemnity payment or additional payment amounts payable pursuant to this
Section 3.01, then at the request of the applicable Loan Party it shall use reasonable efforts (consistent with legal and regulatory restrictions) to designate a different lending office for funding or booking the Loans hereunder or to assign
its rights and obligations hereunder to another of its offices, branches or affiliates, if in the judgment of the Lender the making of such a filing, change or assignment would avoid the need for or reduce the amount of any such indemnity payment or
additional amount that may thereafter accrue, would not require the Lender to disclose any information the Lender deems confidential and would not, in the sole determination of the Lender, be otherwise disadvantageous to the Lender. The applicable
Loan Party shall pay all reasonable costs and expenses incurred by the Lender in connection with any such designation or assignment. 

  
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 (f) If the Lender determines, in its sole discretion exercised in good faith, that it has
received a refund of any Taxes as to which it has been indemnified pursuant to this Section 3.01 (including by the payment of additional amounts pursuant to this Section 3.01), it shall pay to the indemnifying party an amount equal to such
refund (but only to the extent of indemnity payments, including for additional amounts, made under this Section 3.01 with respect to the Taxes giving rise to such refund), net of all out-of-pocket expenses incurred by such indemnified party and
without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund). Such indemnifying party, upon the request of such indemnified party, shall repay to such indemnified party the amount paid over
pursuant to this Section 3.01(f) (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) in the event that such indemnified party is required to repay such refund to such Governmental Authority.
Notwithstanding anything to the contrary in this Section 3.01(f), in no event will the indemnified party be required to pay any amount to an indemnifying party pursuant to this Section 3.01(f) the payment of which would place the
indemnified party in a less favorable net after-tax position than the indemnified party would have been in if the Tax subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the
indemnification payments or additional amounts with respect to such Tax had never been paid. This Section 3.01(f) shall not be construed to require any indemnified party to make available its Tax returns (or any other information relating to
its Taxes that it deems confidential) to the indemnifying party or any other Person. 
 3.02 Illegality. 

(a) If Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for Lender or
its applicable Lending Office to perform any of its obligations hereunder or to make, maintain or fund or charge interest with respect to any Credit Extension or to determine or charge interest rates based upon the Eurocurrency Rate, or any
Governmental Authority has imposed material restrictions on the authority of Lender to purchase or sell, or to take deposits of, Dollars or any Alternative Currency in the applicable interbank market, then, on notice thereof by Lender to the
Borrowers, (a) any obligation of Lender to issue, make, maintain, fund or charge interest with respect to any such Credit Extension or continue Eurocurrency Rate Loans in the affected currency or currencies or, in the case of Eurocurrency Rate
Loans in Dollars, to convert Base Rate Loans to Eurocurrency Rate Loans shall be suspended, and (b) if such notice asserts the illegality of Lender making or maintaining Base Rate
Loans, the interest rate on which is determined by reference to the Eurocurrency Rate component of the Base Rate, the interest rate on which Base Rate Loans of Lender shall, if necessary to
avoid such illegality, be determined by Lender without reference to the Eurocurrency Rate component of the Base Rate, in each case until Lender notifies the Borrowers that the circumstances giving rise to such determination no longer exist. Upon
receipt of such notice, (i) the Borrowers shall, upon demand from Lender, prepay or, if applicable and such Loans are denominated in Dollars, convert all Eurocurrency Rate Loans of Lender to Base Rate Loans (the interest rate on which Base Rate
Loans of Lender shall, if necessary to avoid such illegality, be determined by Lender without reference to the Eurocurrency Rate component of the Base Rate), either on the last day of the Interest Period therefor, if Lender may lawfully continue to
maintain such Eurocurrency Rate Loans to such day, or immediately, if Lender may not lawfully continue to maintain such Eurocurrency Rate Loans and (ii) if such notice asserts the illegality of Lender determining or charging interest rates
based upon the Eurocurrency Rate, the Lender shall during the period of such suspension compute the Base Rate applicable to Lender without reference to the Eurocurrency Rate component thereof until the Borrowers is advised in writing by Lender that
it is no longer illegal for Lender to determine or charge interest rates based upon the Eurocurrency Rate. Upon any such prepayment or conversion, the Borrowers shall also pay accrued interest on the amount so prepaid or converted. 

  
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 (b) If, in any applicable jurisdiction, Lender or any Designated Lender determines that any Law
has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for Lender or its applicable Designated Lender to (i) perform any of its obligations hereunder or under any other Loan Document, (ii) to fund or
maintain its participation in any Loan or Letter of Credit or (iii) issue, make, maintain, fund or charge interest or fees with respect to any Credit Extension Lender shall promptly notify
the Company, and until such notice by Lender is revoked, any obligation of Lender to issue, make, maintain, fund or charge interest or fees with respect to any such Credit Extension
shall be suspended, and to the extent required by applicable Law, cancelled. Upon receipt of such notice, the Loan Parties shall, (A) repay outstanding Obligations) to the extent such illegality is applicable thereto, (B) to the extent
applicable, Cash Collateralize that portion of applicable L/C Obligations comprised of the aggregate undrawn amount of Letters of Credit to the extent not otherwise Cash Collateralized and (C) take all reasonable actions requested by Lender to
mitigate or avoid such illegality. 
 (c) Lender may at its option make any Credit Extension to any Borrower by causing any domestic or
foreign branch or Affiliate of Lender (a “Designated Lender”) to make such Credit Extension; provided that any exercise of such option shall not affect the obligation of the relevant Borrower to repay such Credit Extension in
accordance with the terms of this Agreement; provided, however, if the Lender determines that any Law has made it unlawful, or that any Governmental Authority has asserted that it is unlawful, for the Lender or its applicable
Designated Lender to (i) perform any of its obligations hereunder or under any other Loan Document, (ii) to fund or maintain its participation in any Loan or (iii) issue, make, maintain, fund or charge interest or fees with respect to
any Credit Extension to any Designated Borrower who is organized under the laws of a jurisdiction other than the United States, a State thereof or the District of Columbia then, on notice thereof by the Lender to the Company, and until such notice
by the Lender is revoked, any obligation of the Lender or its Designated Lender to issue, make, maintain, fund or charge interest or fees with respect to any such Credit Extension shall be suspended, and to the extent required by applicable
Law, cancelled. Upon receipt of such notice, the Loan Parties shall, take all reasonable actions requested by the Lender to mitigate or avoid such illegality. Any Designated Lender shall be considered a Lender. 

3.03 Inability to Determine Rates. 

If in connection with any request for a Eurocurrency Rate Loan or a conversion to or continuation thereof, the Lender determines that
(a) deposits (whether in Dollars or an Alternative Currency) are not being offered to banks in the applicable offshore interbank eurodollar market for such currency for the applicable amount and Interest Period of such Eurocurrency Rate Loan,
(b) adequate and reasonable means do not exist for determining the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan (whether denominated in Dollars or an Alternative Currency) or in
connection with an existing or proposed Base Rate Loan, (c) a fundamental change has occurred in the foreign exchange or interbank markets with respect to such Alternative Currency (including, without limitation, changes in national or
international financial, political or economic conditions or currency exchange rates or exchange controls) or (d) the Eurocurrency Rate for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and
fairly reflect the cost to the Lender of funding such Eurocurrency Rate Loan, the Lender will promptly so notify the Borrowers. Thereafter, (i) the obligation of the Lender to make or maintain Eurocurrency Rate Loans in the affected currency or
currencies shall be suspended (to the extent of the affected Eurocurrency Rate Loans or Interest Periods), and (ii) in the event of a determination described in the preceding sentence with respect to the Eurocurrency Rate component of the Base
Rate, the utilization of the Eurocurrency Rate component in determining the Base Rate shall be suspended, in each case until the Lender revokes such notice. Upon receipt of such notice, the Borrowers may revoke any pending request for a Borrowing
of, conversion to or continuation of Eurocurrency Rate Loans in the affected currency or currencies (to the extent of the affected Eurocurrency Rate Loans or Interest Periods) or, failing that, will be deemed to have converted such request into a
request for a Borrowing of Base Rate Loans in the amount specified therein. Notwithstanding the foregoing, in the case of such pending request, the Lender, in consultation 

  
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with the Company, may establish an alternative interest rate for funding Loans in the applicable currency and amount, and with the same Interest Period as the Loan requested to be made, converted
or continued, as the case may be in which case, such alternative rate of interest shall apply with respect to such Loans. 
 3.04 Increased Costs;
Reserves on Eurocurrency Rate Loans. 
 (a) Increased Costs Generally. If any Change in Law shall: 

(i) impose, modify or deem applicable any reserve, special deposit, compulsory loan, insurance charge or similar requirement
against assets of, deposits with or for the account of, or credit extended or participated in by, the Lender (except any reserve requirement contemplated by Section 3.04(e)); 

(ii) subject the Lender to any Taxes with respect to this Agreement or any other Loan Document, other than (A) Indemnified
Taxes, (B) Taxes described in clause (b) of the definition of Excluded Taxes and (C) Connection Income Taxes; or 

(iii) impose on the Lender or the London interbank market any other condition, cost or expense (other than Taxes) affecting
this Agreement or Eurocurrency Rate Loans made by the Lender or any Letter of Credit; 
 and the result of any of the foregoing shall be to
increase the cost to the Lender of making, converting to, continuing or maintaining any Loan (or of maintaining its obligation to make any such Loan), or to increase the cost to the Lender of issuing or maintaining any Letter of Credit (or of
maintaining its obligation to issue any Letter of Credit), or to reduce the amount of any sum received or receivable by the Lender hereunder (whether of principal, interest or any other amount) then, upon request of the Lender, the Borrowers will
pay to the Lender such additional amount or amounts as will compensate the Lender for such additional costs incurred or reduction suffered. 

(b) Capital Requirements. If the Lender determines that any Change in Law affecting the Lender or the Lender’s Office or the
Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on the Lender’s capital or on the capital of the Lender’s holding company, if any, as a
consequence of this Agreement, the Commitments of the Lender or the Loans made by or the Letters of Credit issued by the Lender, to a level below that which the Lender or the Lender’s holding company could have achieved but for such Change in
Law (taking into consideration the Lender’s policies and the policies of the Lender’s holding company with respect to capital adequacy), then from time to time the Borrowers will pay to the Lender such additional amount or amounts as will
compensate the Lender or the Lender’s holding company for any such reduction suffered. 
 (c) Mandatory Costs. If Lender incurs
any Mandatory Costs attributable to the Obligations, attributable to a Change in Law, then from time to time the Company will pay (or cause to be paid) to the Lender such Mandatory Costs. Such amount shall be expressed as a percentage rate per annum
and shall be payable on the full amount of the applicable Obligations. 
 (d) Certificates for Reimbursement. A certificate of the
Lender setting forth the amount or amounts necessary to compensate the Lender or its holding company, as the case may be, as specified in subsection (a), (b) or (c) of this Section and delivered to the Borrowers shall be conclusive absent
manifest error. The Borrowers shall pay the Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof. 

  
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 (e) Reserves on Eurocurrency Rate Loans. The Borrowers shall pay to the Lender,
(i) as long as the Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including eurocurrency funds or deposits (currently known as “Eurocurrency liabilities”), additional interest on
the unpaid principal amount of each Eurocurrency Rate Loan equal to the actual costs of such reserves allocated to such Loan by the Lender (as determined by the Lender in good faith, which determination shall be conclusive), and (ii) as long as
the Lender shall be required to comply with any reserve ratio requirement or analogous requirement of any other central banking or financial regulatory authority imposed in respect of the maintenance of the Commitments or the funding of the Loans,
such additional costs (expressed as a percentage per annum and rounded upwards, if necessary, to the nearest five decimal places) equal to the actual costs allocated to such Commitment or Loan by the Lender (as determined by the Lender in good
faith, which determination shall be conclusive), which in each case shall be due and payable on each date on which interest is payable on such Loan, provided the Borrowers shall have received at least ten (10) days’ prior notice of such
additional interest or costs from the Lender. If the Lender fails to give notice ten (10) days prior to the relevant Interest Payment Date, such additional interest shall be due and payable ten (10) days from receipt of such notice. 

(f) Delay in Requests. Failure or delay on the part of the Lender to demand compensation pursuant to the foregoing provisions of this
Section 3.04 shall not constitute a waiver of the Lender’s right to demand such compensation, provided that the Borrowers shall not be required to compensate the Lender pursuant to the foregoing provisions of this Section for any increased
costs incurred or reductions suffered more than nine (9) months prior to the date that the Lender notifies the Borrowers of the Change in Law giving rise to such increased costs or reductions and of the Lender’s intention to claim
compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the nine (9) month period referred to above shall be extended to include the period of retroactive effect thereof).

 3.05 Compensation for Losses. 

Upon demand of the Lender from time to time, the Borrowers shall promptly compensate the Lender for and hold the Lender harmless from any
loss, cost or expense incurred by it as a result of: 
 (a) any continuation, conversion, payment or prepayment of any Loan other than a Base
Rate Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise); 

(b) any failure by the Borrowers (for a reason other than the failure of the Lender to make a Loan) to prepay, borrow, continue or convert any
Loan other than a Base Rate Loan on the date or in the amount notified by the Borrowers; or 
 (c) any failure by any Borrower to make
payment of any Loan or drawing under any Letter of Credit (or interest due thereon) denominated in an Alternative Currency on its scheduled due date or any payment thereof in a different currency; 

including any loss of anticipated profits, any foreign exchange losses and any loss or expense arising from the liquidation or reemployment of funds obtained
by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained or from the performance of any foreign exchange contract. The Borrowers shall also pay any customary administrative fees charged by the
Lender in connection with the foregoing. 

  
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 For purposes of calculating amounts payable by the Borrowers to the Lender under this
Section 3.05, the Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the applicable interbank market for such currency for a comparable
amount and for a comparable period, whether or not such Eurocurrency Rate Loan was in fact so funded. 
 3.06 Survival. 

All of the Borrowers’ obligations under this Article III shall survive termination of the Commitments, repayment of all other Obligations
hereunder. 
 ARTICLE IV 

CONDITIONS PRECEDENT TO CREDIT EXTENSIONS 

4.01 Conditions of Initial Credit Extension. 

The obligation of the Lender to make its initial Credit Extension hereunder is subject to satisfaction of the following conditions precedent:

 (a) Execution of Credit Agreement; Loan Documents. The Lender shall have received (i) counterparts of this Agreement, executed
by a Responsible Officer of each Loan Party, (ii) counterparts of the Security Agreement and each other Collateral Document, executed by a Responsible Officer of the applicable Loan Parties and a duly authorized officer of each other Person
party thereto, as applicable and (iii) counterparts of any other Loan Document, executed by a Responsible Officer of the applicable Loan Party and a duly authorized officer of each other Person party thereto. 

(b) Officer’s Certificate. The Lender shall have received a certificate of a Responsible Officer dated the Closing Date, certifying
as to the Organization Documents of each Loan Party (which, to the extent filed with a Governmental Authority, shall be certified as of a recent date by such Governmental Authority), the resolutions of the governing body of each Loan Party, the good
standing, existence or its equivalent of each Loan Party and of the incumbency (including specimen signatures) of the Responsible Officers of each Loan Party. 

(c) Legal Opinions of Counsel. The Lender shall have received (i) an opinion or opinions (including an opinion with respect to the
Danish Borrower and Foreign Guarantor) of counsel for the Loan Parties dated the Closing Date and addressed to the Lender, in form and substance acceptable to the Lender and (ii) an opinion of Danish counsel to the Lender, addressed to the
Lender and in form and substance acceptable to the Lender. 
 (d) Financial Statements. The Lender shall have received copies of the
financial statements referred to in Section 5.05, each in form and substance satisfactory to each of them. 
 (e) Personal Property
Collateral. The Lender shall have received, in form and substance satisfactory to the Lender: 

(i) (A) searches of UCC filings in the jurisdiction of incorporation or formation, as applicable, of each Loan Party
and each jurisdiction where any Collateral is located or where a filing would need to be made in order to perfect the Lender’s security interest in the Collateral, copies of the financing statements on file in such jurisdictions and evidence
that no Liens exist other than Permitted Liens and (B) tax lien, judgment and bankruptcy searches; 

  
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 (ii) searches of ownership of Intellectual Property in the United States Patent
and Trademark Office, the United States Copyright Office and such patent/trademark/copyright filings as requested by the Lender in order to perfect the Lender’s security interest in the Intellectual Property in the United States; 

(iii) completed UCC financing statements for each appropriate jurisdiction as is necessary, in the Lender’s sole
discretion, to perfect the Lender’s security interest in the Collateral; 
 (iv) stock or membership certificates, if
any, evidencing the Pledged Equity and undated stock or transfer powers duly executed in blank, in each case to the extent such Pledged Equity is certificated; 

(v) to the extent required to be delivered, filed, registered or recorded pursuant to the terms and conditions of the
Collateral Documents, all instruments, documents (including, if necessary, relevant page(s) of the share register book of the companyCompany showing the pledge
registration) and chattel paper in the possession of any of the Loan Parties, together with allonges or assignments as may be necessary or appropriate to create and perfect the Lender’s security interest in the Collateral; and 

(f) Reserved. 
 (g)
Liability, Casualty, Property, Terrorism and Business Interruption Insurance. The Lender shall have received copies of declaration pages, if requested by the Lender and certificates of insurance evidencing liability, casualty, property, and
business interruption insurance meeting the requirements set forth herein or in the Collateral Documents or as required by the Lender. 
 (h)
Solvency Certificate. The Lender shall have received a Solvency Certificate signed by a Responsible Officer of the Borrowers as to the financial condition, solvency and related matters of the Company and its Subsidiaries, taken together as a
group on a Consolidated basis and each Loan Party, after giving effect to the initial borrowings under the Loan Documents and the other transactions contemplated hereby. 

(i) Reserved. 
 (j) Loan
Notice. The Lender shall have received a Loan Notice with respect to the Loans to be made on the Closing Date. 
 (k) Existing
Indebtedness of the Loan Parties. All of the existing Indebtedness for borrowed money of the Company and its Subsidiaries (other than Indebtedness permitted to exist pursuant to Section 7.02), including the Existing Credit Agreement, shall
be repaid in full and terminated and all security interests, if any, related thereto shall be terminated on or prior to the Closing Date. 

(l) Reserved. 
 (m)
Consents. The Lender shall have received evidence that all members, boards of directors, governmental, shareholder and material third party consents and approvals necessary in connection with the entering into of this Agreement have been
obtained. 
 (n) Fees and Expenses. The Lender shall have received all fees and expenses, if any, owing pursuant to Section 2.09.

  
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 (o) Licensing Requirements. The Lender shall have obtained all applicable licenses,
consents, permits and approvals as deemed necessary by the Lender in order to execute and perform the transactions contemplated by the Loan Documents. 

(p) Due Diligence. The Lender shall have completed a due diligence investigation of the Company and its Subsidiaries in scope, and with
results, satisfactory to the Lender. 
 (q) Closing Certificate. The Lender shall have received a closing certificate from a
Responsible Officer (i) certifying that the Danish Acquisition was consummated in accordance with the Share Purchase Agreement, (ii) attaching a fully
executedfully-executed version of the Share Purchase Agreement and any other material document executed in connection with the Danish Acquisition and (iii) certifying as to
such other matters the Lender reasonably requests or requires. 
 (r) Other Documents. All other documents provided for herein or
which the Lender may reasonably request or require as set forth on the closing checklist. 
 (s) Additional Information. Such
additional information and materials which the Lender shall reasonably request or require as set forth on the closing checklist. 
 4.02 Conditions to
all Credit Extensions. 
 The obligation of the Lender to honor any Request for Credit Extension (other than a Loan Notice
requesting only a conversion of Loans to the other Type, or a continuation of Eurodollar Rate Loans) is subject to the following conditions precedent: 

(a) Representations and Warranties. The representations and warranties of the Borrowers and each other Loan Party contained in Article
II, Article V or any other Loan Document, or which are contained in any document furnished at any time under or in connection herewith or therewith, shall (i) with respect to representations and warranties that contain a materiality
qualification, be true and correct on and as of the date of such Credit Extension and (ii) with respect to representations and warranties that do not contain a materiality qualification, be true and correct in all material respects on and as of
the date of such Credit Extension, and except that for purposes of this Section 4.02, the representations and warranties contained in Sections 5.05(a) and (b) shall be deemed to refer to the most recent statements furnished pursuant to
Sections 6.01(a) and (b), respectively. 
 (b) Default. No Default shall exist, or would result from such proposed Credit Extension or
from the application of the proceeds thereof. 
 (c) Request for Credit Extension. The Lender shall have received a Request for Credit
Extension in accordance with the requirements hereof. 
 (d) Alternative Currency. In the case of a Credit Extension to be denominated
in an Alternative Currency, such currency remains an Eligible Currency. 
 (e) Legal Impediment. There shall be no impediment,
restriction, limitation or prohibition imposed under Law or by any Governmental Authority, as to the proposed financing under this Agreement or the repayment thereof or as to rights created under any Loan Document or as to application of the
proceeds of the realization of any such rights. 

  
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 Each Request for Credit Extension submitted by the Borrowers shall be deemed to be a
representation and warranty that the conditions specified in Sections 4.02(a) and (b) have been satisfied on and as of the date of the applicable Credit Extension. 

ARTICLE V 

REPRESENTATIONS AND WARRANTIES 

Each Loan Party represents and warrants to the Lender, as of the date made or deemed made, that: 

5.01 Existence, Qualification and Power. 

Each Loan Party and each of its Subsidiaries (a) is duly organized or formed, validly existing and, as applicable, in good standing under
the Laws of the jurisdiction of its incorporation or organization, (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and approvals to (i) own or lease its assets and carry on its
business and (ii) execute, deliver and perform its obligations under the Loan Documents to which it is a party, and (c) is duly qualified and is licensed and, as applicable, in good standing under the Laws of each jurisdiction where its
ownership, lease or operation of properties or the conduct of its business requires such qualification or license; except in each case referred to in clause (b)(i) or (c), to the extent that failure to do so could not reasonably be expected to have
a Material Adverse Effect. The copy of each Organization Document of each Loan Party provided to the Lender pursuant to the terms of this Agreement is, as of the date of this provision, a true and correct copy of each such document, each of which,
as of such date, is valid and in full force and effect. 
 5.02 Authorization; No Contravention. 

The execution, delivery and performance by each Loan Party of each Loan Document to which such Person is or is to be a party have been duly
authorized by all necessary corporate or other organizational action, and do not and will not (a) contravene the terms of any of such Person’s Organization Documents; (b) conflict with or result in any breach or contravention of, or
the creation of any Lien (other than a Permitted Lien) under, or require any payment to be made under (i) any material Contractual Obligation to which such Person is a party or affecting such Person or the properties of such Person or any of
its Subsidiaries, except for conflicts, breaches or contraventions that could not reasonably be expected to have a Material Adverse Effect, individually or in the aggregate or (ii) any order, injunction, writ or decree of any Governmental
Authority or any arbitral award to which such Person or its property is subject; or (c) violate any Law. 
 5.03 Governmental Authorization;
Other Consents. 
 No approval, consent, exemption, authorization, or other action by, or notice to, or filing with, any
Governmental Authority is necessary or required in connection with (a) the execution, delivery or performance by, any Loan Party of this Agreement or any other Loan Document, (b) the grant by any Loan Party of the Liens granted by it
pursuant to the Collateral Documents or (c) the perfection or maintenance of the Liens created under the Collateral Documents (including the first priority nature thereof (subject only to Permitted Liens)), other than (i) authorizations,
approvals, actions, notices and filings which have been duly obtained or made, (ii) filings to perfect the Liens created by the Collateral Documents and (iii) filings with the SEC in connection with the Loan Parties’ disclosure
obligations under securities laws. 

  
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 5.04 Binding Effect. 

This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and delivered by each Loan
Party that is party thereto. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of such Loan Party, enforceable against each Loan Party that is party thereto in
accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other laws affecting creditors’ rights generally and subject to general principals of equity. 

5.05 Financial Statements; No Material Adverse Effect. 

(a) Audited Financial Statements. The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied
throughout the period covered thereby, except as otherwise expressly noted therein; (ii) fairly present in all material respects the financial condition of the Company and its Subsidiaries as of the date thereof and their results of operations,
cash flows and changes in shareholder’s equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein; and (iii) show all material
indebtedness and other liabilities, direct or contingent, of the Company and its Subsidiaries as of the date thereof, including liabilities for taxes, material commitments and Indebtedness. 

(b) Quarterly Financial Statements. The unaudited Consolidated balance sheet of the Company and its Subsidiaries dated October 29,
2016, and the related Consolidated statements of income or operations, shareholders’ equity and cash flows for the fiscal quarterFiscal Quarter ended on that date
(i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of the Company and
its Subsidiaries as of the date thereof and their results of operations, cash flows and changes in shareholder’s equity for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal
year-end audit adjustments. 
 (c) Material Adverse Effect. Since January 31, 2016, there has been no event or circumstance,
either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 
 (d)
Reserved. 
 (e) Forecasted Financials. The consolidated forecasted balance sheets, statements of income and cash flows of the
Company and its Subsidiaries delivered to the Lender prior to the Closing Date in connection with Section 4.01 or pursuant to Section 6.01 were prepared in good faith on the basis of the assumptions stated therein, which assumptions were
fair in light of the conditions existing at the time of delivery of such forecasts, and represented, at the time of delivery, the Borrowers’ good faith estimate of its future financial condition and performance (it being understood that actual
results may be materially and/or adversely different). 
 5.06 Litigation. 

There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Loan Parties after due and diligent
investigation, threatened or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against any Loan Party or any Subsidiary or against any of their properties or revenues that (a) purport to affect or
pertain to this Agreement or any other Loan Document or any of the transactions contemplated hereby, or (b) either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. 

  
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 5.07 No Default. 

Neither any Loan Party nor any Subsidiary thereof is in default under or with respect to, or a party to, any Contractual Obligation that
could, either individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. No Default has occurred and is continuing or would result from the consummation of the transactions contemplated by this Agreement or any other
Loan Document. 
 5.08 Ownership of Property. 

Each Loan Party and each of its Subsidiaries has good record and marketable title in fee simple to, or valid leasehold interests in, all real
property necessary or used in the ordinary conduct of its business, except for such defects as could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

5.09 Environmental Compliance. 

(a) The Loan Parties and their respective Subsidiaries conduct in the ordinary course of business such review of the effect of existing
Environmental Laws and claims alleging potential liability or responsibility for violation of any Environmental Law on their respective businesses, operations and properties as they reasonably deem appropriate, and the Loan Parties have reasonably
concluded that such Environmental Laws and claims could not, individually or in the aggregate, reasonably be expected to have a Material Adverse Effect. 

(b) Neither any Loan Party nor any of its Subsidiaries is undertaking, and has not completed, either individually or together with other
potentially responsible parties, any investigation or assessment or remedial or response action relating to any actual or threatened release, discharge or disposal of Hazardous Materials at any site, location or operation, either voluntarily or
pursuant to the order of any Governmental Authority or the requirements of any Environmental Law, in each case that could reasonably be expected to have a Material Adverse Effect; and all Hazardous Materials generated, used, treated, handled or
stored at, or transported to or from, any property currently or formerly owned or operated by any Loan Party or any of its Subsidiaries have been disposed of in a manner not reasonably expected to result in a Material Adverse Effect. 

5.10 Maintenance of Insurance. 

The properties of the Company and its Subsidiaries are insured with financially sound and reputable insurance companies not Affiliates of the
Borrowers, in such amounts, with such deductibles and covering such risks as are customarily carried by companies engaged in similar businesses and owning similar properties in localities where the applicable Loan Party or the applicable Subsidiary
operates. The general liability, casualty, property, terrorism and business interruption insurance coverage of the Loan Parties as in effect on the Closing Date, and as of the last date such Schedule was required to be updated in accordance with
Sections 6.02, 6.14 and 6.15, is outlined as to carrier, policy number, expiration date, type, amount and deductibles on Schedule 5.10 and such insurance coverage complies with the requirements set forth in this Agreement and the other Loan
Documents. 
 5.11 Taxes. 
 Each
Loan Party and its Subsidiaries have timely filed (giving effect to available extension periods) all federal, material state and material non-U.S. income other material tax returns and reports required to be filed, and have paid all federal,
material state and other material taxes, assessments, fees and other governmental charges levied or imposed upon them or their properties, income or assets 

  
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otherwise due and payable, except those which are being contested in good faith by appropriate proceedings diligently conducted and for which adequate reserves have been provided in accordance
with GAAP. There is no proposed tax assessment against any Loan Party or any Subsidiary that would, if made, have a Material Adverse Effect, nor is there any tax sharing agreement applicable to the Borrowers or any Subsidiary. 

5.12 ERISA Compliance. 
 (a) Each
Plan that is subject to United States federal or state laws is in compliance in all material respects with the applicable provisions of ERISA, the Code and other United States federal or state laws. Each Pension Plan that is intended to be a
qualified plan under Section 401(a) of the Code has received a favorable determination letter or is subject to a favorable opinion letter from the IRS to the effect that the form of such Plan is qualified under Section 401(a) of the Code
and the trust related thereto has been determined by the IRS to be exempt from federal income tax under Section 501(a) of the Code, or an application for such a letter is currently being processed by the IRS. To the best knowledge of the Loan
Parties, nothing has occurred that would prevent or cause the loss of such tax-qualified status. 
 (b) There are no pending or, to the best
knowledge of the Loan Parties, threatened claims, actions or lawsuits, or action by any United States federal or state Governmental Authority, with respect to any Plan that could reasonably be expected to have a Material Adverse Effect. There has
been no prohibited transaction or violation of the fiduciary responsibility rules with respect to any Plan that has resulted or could reasonably be expected to result in a Material Adverse Effect. 

(c) (i) No ERISA Event has occurred, and no Loan Party nor any ERISA Affiliate is aware of any fact, event or circumstance that could
reasonably be expected to constitute or result in an ERISA Event with respect to any Pension Plan; (ii) the Borrowers and each ERISA Affiliate has met all applicable requirements under the Pension Funding Rules in respect of each Pension Plan,
and no waiver of the minimum funding standards under the Pension Funding Rules has been applied for or obtained; (iii) as of the most recent valuation date for any Pension Plan, the funding target attainment percentage (as defined in
Section 430(d)(2) of the Code) is sixty percent (60%) or higher and no Loan Party nor any ERISA Affiliate knows of any facts or circumstances that could reasonably be expected to cause the funding target attainment percentage for any such
plan to drop below sixty percent (60%) as of the most recent valuation date; (iv) no Loan Party nor any ERISA Affiliate has incurred any liability to the PBGC other than for the payment of premiums, and there are no premium payments which
have become due that are unpaid; (v) neither the Borrowers nor any ERISA Affiliate has engaged in a transaction that could be subject to Section 4069 or Section 4212(c) of ERISA; and (vi) no Pension Plan has been terminated by
the plan administrator thereof nor by the PBGC, and no event or circumstance has occurred or exists that could reasonably be expected to cause the PBGC to institute proceedings under Title IV of ERISA to terminate any Pension Plan. 

(d) Neither the Borrowers nor any ERISA Affiliate maintains or contributes to, or has any unsatisfied obligation to contribute to, or liability
under, any active or terminated Pension Plan other than (i) on the Closing Date, those listed on Schedule 5.12 hereto and (ii) thereafter, Pension Plans not otherwise prohibited by this Agreement. 

(e) As of the Second Amendment Effective Date and throughout the term of this
Agreement, no Loan Party is (i) an employee benefit plan subject to Title I of ERISA, (ii) a plan or account subject to Section 4975 of the Code; (iii) an entity deemed to hold “plan assets” of any such plans or
accounts for purposes of ERISA or the Code; or (iv) a “governmental plan” within the meaning of ERISA. 

  
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 5.13 Margin Regulations; Investment Company Act. 

(a) Margin Regulations. The Borrowers are not engaged and will not engage, principally or as one of its important activities, in the
business of purchasing or carrying margin stock (within the meaning of Regulation U issued by the FRB), or extending credit for the purpose of purchasing or carrying margin stock. Following the application of the proceeds of each Borrowing or
drawing under each Letter of Credit, not more than twenty-five percent (25%) of the value of the assets (either of the Company only or of the Company and its Subsidiaries on a Consolidated basis) subject to the provisions of Section 7.01
or Section 7.05 or subject to any restriction contained in any agreement or instrument between the Borrowers and the Lender or any Affiliate of the Lender relating to Indebtedness and within the scope of Section 8.01(e) will be margin
stock. 
 (b) Investment Company Act. None of the Borrowers, any Person Controlling the Company, or any Subsidiary is or is required
to be registered as an “investment company” under the Investment Company Act of 1940. 
 5.14 Disclosure. 

No report, financial statement, certificate or other information furnished (whether in writing or orally) by or on behalf of any Loan Party to
the Lender in connection with the transactions contemplated hereby and the negotiation of this Agreement or delivered hereunder or under any other Loan Document (in each case as modified or supplemented by other information so furnished, and in each
case taken together with all such other information) contains any material misstatement of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not
misleading; provided that, with respect to projected financial information or other forward-looking information, each Loan Party represents only that such information was prepared in good faith based upon assumptions believed to be reasonable
at the time (it being understood that actual results may be materially and/or adversely different). 
 5.15 Solvency. 

The U.S. Loan Parties taken together as a group on a Consolidated basis are, and the Foreign Obligors taken together as a group on a
Consolidated basis are, solvent. 
 5.16 Casualty, Etc. 

Neither the businesses nor the properties of any Loan Party or any of its Subsidiaries are affected by any fire, explosion, accident, strike,
lockout or other labor dispute, drought, storm, hail, earthquake, embargo, act of God or of the public enemy or other casualty (whether or not covered by insurance) that, either individually or in the aggregate, could reasonably be expected to have
a Material Adverse Effect. 
 5.17 Sanctions Concerns and Anti-Corruption Laws.  

(a) Sanctions Concerns. No Loan Party, nor any Subsidiary, nor, to the knowledge of the Loan Parties and their Subsidiaries, any
director, officer, employee, agent, affiliate or representative thereof, is an individual or entity that is, or is owned or controlled by any individual or entity that is (i) currently the subject or target of any Sanctions, (ii) included
on OFAC’s List of Specially Designated Nationals, HMT’s Consolidated List of Financial Sanctions Targets and the Investment Ban List, or any similar list enforced by any other relevant sanctions authority or (iii) located, organized
or resident in a Designated Jurisdiction. 

  
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 (b) Anti-Corruption Laws. The Loan Parties and their Subsidiaries have conducted their
business in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other similar anti-corruption legislation in other jurisdictions, and have instituted and maintained policies and procedures designed to
promote and achieve compliance with such laws. 
 5.18 Responsible Officers. 

Set forth on Schedule 1.01(b) are Responsible Officers, holding the offices indicated next to their respective names, as of the
Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15 and such Responsible Officers are duly elected and qualified officers of such Loan Party and those set forth on the
applicable officer’s certificate delivered pursuant to Section 4.01 (and as the same may be updated, modified or otherwise supplemented) are duly authorized to execute and deliver, on behalf of the respective Loan Party, this Agreement,
and the other Loan Documents. 
 5.19 Subsidiaries; Equity Interests; Loan Parties. 

(a) Subsidiaries, Joint Ventures, Partnerships and Equity Investments. Set forth on Schedule 5.19(a), is the following
information which is true and complete in all respects as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15: (i) a complete and accurate list of all
Subsidiaries, joint ventures and partnerships and other equity investments of the Loan Parties as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, (ii) the
number of shares of each class of Equity Interests in each Subsidiary outstanding, (iii) the number and percentage of outstanding shares of each class of Equity Interests owned by the Loan Parties and their Subsidiaries and (iv) the class
or nature of such Equity Interests (i.e. voting, non-voting, preferred, etc.). The outstanding Equity Interests in all Subsidiaries are validly issued, fully paid and non-assessable and are owned free and clear of all Liens other than Permitted
Liens under Section 7.01(c) or Section 7.01(k). There are no outstanding subscriptions, options, warrants, calls, rights or other agreements or commitments (other than stock options granted to employees or directors and directors’
qualifying shares) of any nature relating to the Equity Interests of any Subsidiary of any Loan Party, except as contemplated in connection with the Loan Documents. 

(b) Loan Parties. Set forth on Schedule 5.19(b) is a complete and accurate list of all Loan Parties, showing as of the
Closing Date, or as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15 (as to each Loan Party) (i) the exact legal name, (ii) any former legal names of such Loan Party in the four
(4) months prior to the Closing Date, (iii) the jurisdiction of its incorporation or organization, as applicable, (iv) the type of organization, (v) the jurisdictions in which such Loan Party is qualified to do business,
(vi) the address of its chief executive office, (vii) the address of its principal place of business, (viii) its U.S. federal taxpayer identification number or, in the case of any non-U.S. Loan Party that does not have a U.S. taxpayer
identification number, its unique identification number issued to it by the jurisdiction of its incorporation or organization and (ix) the organization identification number of such Loan Party. 

5.20 Collateral Representations. 

(a) Collateral Documents. The provisions of the Collateral Documents are effective to create in favor of the Lender a legal, valid and
enforceable first priority Lien (subject to Permitted Liens) on all right, title and interest of the respective U.S. Loan Parties in the Collateral described therein. Except for filings completed prior to the Closing Date and as contemplated hereby
and by the Collateral Documents, no filing or other action will be necessary to perfect or protect such Liens. 

  
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 (b) Intellectual Property. Set forth on Schedule 5.20(b) as of the Closing
Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a list of all registered or issued Intellectual Property (including all applications for registration and issuance) owned
by each of the U.S. Loan Parties or that each of the U.S. Loan Parties has an exclusive in-bound license right to (including the name/title, current owner, registration or application number, and registration or application date and such other
information as reasonably requested by the Lender), in each case that is registered or in respect of which an application for registration has been applied for in the U.S. Patent and Trademark Office or the U.S. Copyright Office. 

(c) Documents, Instrument, and Tangible Chattel Paper. Set forth on Schedule 5.20(c), as of the Closing Date and as of the
last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a description of all Documents, Instruments, and Tangible Chattel Paper of the U.S. Loan Parties (including the U.S. Loan Party owning such
Document, Instrument and Tangible Chattel Paper and such other information as reasonably requested by the Lender). 
 (d) Deposit
Accounts, Electronic Chattel Paper, Letter-of-Credit Rights, and Securities Accounts. 
 (i) Set forth on
Schedule 5.20(d)(i), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a description of all Deposit Accounts and Securities Accounts of the
Loan Parties, including the name of (A) the applicable Loan Party, (B) in the case of a Deposit Account, the depository institution and whether such account is a zero balance account or a payroll account, and (C) in the case of a
Securities Account, the Securities Intermediary or issuer, as applicable. 
 (ii) Set forth on
Schedule 5.20(d)(ii), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a description of all Electronic Chattel Paper (as defined in the UCC)
and Letter-of-Credit Rights (as defined in the UCC) of the U.S. Loan Parties, including the name of (A) the applicable U.S. Loan Party, (B) in the case of Electronic Chattel Paper (as defined in the UCC), the account debtor and (C) in
the case of Letter-of-Credit Rights (as defined in the UCC), the issuer or nominated person, as applicable. 
 (e) Commercial Tort
Claims. Set forth on Schedule 5.20(e), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a description of all Commercial Tort Claims of
the U.S. Loan Parties (detailing such Commercial Tort Claim in such detail as reasonably requested by the Lender). 
 (f) Pledged Equity
Interests. Set forth on Schedule 5.20(f), as of the Closing Date and as of the last date such Schedule was required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a list of (i) all Pledged Equity and
(ii) all other Equity Interests required to be pledged to the Lender pursuant to the Collateral Documents (in each case, detailing the Grantor (as defined in the Security Agreement), the Person whose Equity Interests are pledged, the number of
shares of each class of Equity Interests, the certificate number (if applicable) and percentage ownership of outstanding shares of each class of Equity Interests and the class or nature of such Equity Interests (i.e. voting, non-voting, preferred,
etc.). 
 (g) Properties. Set forth on Schedule 5.20(g), as of the Closing Date and as of the last date such Schedule was
required to be updated in accordance with Sections 6.02, 6.14 and 6.15, is a list of (A) each headquarter location of the Loan Parties, (B) each other location where any significant administrative or governmental functions are
performed, (C) each other location where the U.S. Loan 

  
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Parties maintain any material books or records (electronic or otherwise) and (D) each location where any material personal property Collateral is located at any premises owned or leased by a
Loan Party (in each case, including (1) an indication if such location is leased or owned, (2), if leased, the name of the lessor, and if owned, the name of the U.S. Loan Party owning such property, (3) the address of such property
(including, the city, county, state and zip code) and (4) to the extent owned, the approximate fair market value of such property). 
 5.21 EEA
Financial Institutions. 
 No Loan Party is an EEA Financial Institution. 

5.22 Intellectual Property; Licenses, Etc. 

Each Loan Party and each of its Subsidiaries own, or possess the right to use, all of the trademarks, service marks, trade names, copyrights,
patents, patent rights, franchises, licenses and other intellectual property rights that are reasonably necessary for the operation of their respective businesses, without conflict with the rights of any other Person, except as could not,
individually or in the aggregate, reasonably be expected to result in a Material Adverse Effect. To the best knowledge of the Borrowers, no slogan or other advertising device, product, process, method, substance, part or other material now employed,
or now contemplated to be employed, by any Loan Party or any of its Subsidiaries infringes upon any rights held by any other Person, except as would not, individually or in the aggregate, reasonably be expected to result in a Material Adverse
Effect. No claim or litigation regarding any of the foregoing is pending or, to the best knowledge of the Borrowers, threatened, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect. 

5.23 Labor Matters. 
 There are no
collective bargaining agreements or Multiemployer Plans covering the employees of the Company or any of its Subsidiaries as of the Closing Date and neither the Borrowers nor any Subsidiary has suffered any strikes, walkouts, work stoppages or other
material labor difficulty within the last five (5) years preceding the Closing Date. 
 5.24 Representations as to Foreign Obligors. Each
of the Company and each Foreign Obligor represents and warrants to the Lender that: 
 (a) Such Foreign Obligor is subject to civil
and commercial Laws with respect to its obligations under this Agreement and the other Loan Documents to which it is a party (collectively as to such Foreign Obligor, the “Applicable Foreign Obligor Documents”), and the execution,
delivery and performance by such Foreign Obligor of the Applicable Foreign Obligor Documents constitute and will constitute private and commercial acts and not public or governmental acts. Neither such Foreign Obligor nor any of its property has any
immunity from jurisdiction of any court or from any legal process (whether through service or notice, attachment prior to judgment, attachment in aid of execution, execution or otherwise) under the laws of the jurisdiction in which such Foreign
Obligor is organized and existing in respect of its obligations under the Applicable Foreign Obligor Documents. 
 (b) The Applicable Foreign
Obligor Documents are in proper legal form under the Laws of the jurisdiction in which such Foreign Obligor is organized and existing for the enforcement thereof against such Foreign Obligor under the Laws of such jurisdiction, and to ensure the
legality, validity, enforceability, priority or admissibility in evidence of the Applicable Foreign Obligor Documents. It is not necessary to ensure the legality, validity, enforceability, priority or admissibility in evidence of the Applicable
Foreign Obligor Documents that the Applicable Foreign Obligor Documents be filed, 

  
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registered or recorded with, or executed or notarized before, any court or other authority in the jurisdiction in which such Foreign Obligor is organized and existing or that any registration
charge or stamp or similar tax be paid on or in respect of the Applicable Foreign Obligor Documents or any other document, except for (i) any such filing, registration, recording, execution or notarization as has been made or is not required to
be made until the Applicable Foreign Obligor Document or any other document is sought to be enforced and (ii) any charge or tax as has been timely paid. 

(c) As of the date hereofClosing Date and provided that the Lender
has compiledcomplied with its obligations in Section 3.01, there is no tax, levy, impost, duty, fee, assessment or other governmental charge, or any deduction or
withholding, imposed by any Governmental Authority in or of the jurisdiction in which such Foreign Obligor is organized and existing (other than any Other Connection Taxes) either (i) on or by virtue of the execution or delivery of the
Applicable Foreign Obligor Documents or (ii) on any payment to be made by such Foreign Obligor pursuant to the Applicable Foreign Obligor Documents, except as has been disclosed to the Lender. As of the date
hereofClosing Date and provided that the Lender has complied with its obligations in Section 3.01, it is not required under the Laws of the jurisdiction in which the Danish
Borrower is incorporated or resident or at the address specified for the Borrowers on Schedule 1.01(a) to make any deduction for or on account of Tax (other than any Other Connection Taxes) from any payment it may make under any Loan
Documents. 
 (d) The execution, delivery and performance of the Applicable Foreign Obligor Documents executed by such Foreign Obligor are,
under applicable foreign exchange control regulations of the jurisdiction in which such Foreign Obligor is organized and existing, not subject to any notification or authorization except (i) such as have been made or obtained or (ii) such
as cannot be made or obtained until a later date (provided that any notification or authorization described in clause (ii) shall be made or obtained as soon as is reasonably practicable). 

(e) The choice of the law of the State of New York as the governing law of the Loan Documents will be recognized and enforced in the Danish
Borrower’s jurisdiction of incorporation and any judgment obtained in New York in relation to a Loan Document will be recognized and enforced in the Danish Borrower’s jurisdiction of incorporation. 

(f) Under the Laws of the jurisdiction in which the Danish Borrower is incorporated it is not necessary that the Loan Documents be filed,
recorded or enrolled with any court or other authority in that jurisdiction or that any stamp, registration or similar tax be paid on or in relation to the Loan Documents or the transactions contemplated by the Loan Documents. 

5.25 Company Loan Documents. The execution and delivery by the Company of the Loan Documents to which it is a party and the
performance by it of its obligations thereunder (including its Guaranty) are in furtherance of its corporate purposes and necessary or convenient to the conduct, promotion and attainment of its business, and it shall derive a substantial benefit
therefrom. 

  
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 ARTICLE VI 

AFFIRMATIVE COVENANTS 

Each of the Loan Parties hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination Date, such Loan
Party shall, and shall cause each of its Subsidiaries to: 
 6.01 Financial Statements. 

Deliver to the Lender, in form and detail satisfactory to the Lender: 

(a) Audited Financial Statements. As soon as available, but in any event within one hundred twenty (120) days after the end of each
fiscal year of the Company (commencing with the fiscal year ended January 31, 2017), a Consolidated (and, if requested by the Lender, management prepared consolidating) balance sheet
of the Company and its Subsidiaries as at the end of such fiscal year, and the related Consolidated (and, if requested by the Lender, management prepared consolidating) statements of income or operations and cash flows, and related Consolidated
statements changes in shareholders’ equity for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such Consolidated
statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Lender, which report and opinion shall be prepared in accordance with
generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception (exceptions may be required as a result of (x) a prospective Event of Default with respect to any breach of any
financial covenant or (y) the impending maturity of either Facility) or any qualification or exception as to the scope of such audit. 

(b) Quarterly Financial Statements. As soon as available, but in any event within sixty (60) days after the end of each of the
first three (3) fiscal quarters of each fiscal year of the Company (commencing with the fiscal quarter ended April 30, 2017), a Consolidated (and, if requested by the Lender, management prepared consolidating) balance sheet of the Company
and its Subsidiaries as at the end of such fiscal quarter, and the related Consolidated (and, if requested by the Lender, management prepared consolidating) statements of income or operations and cash flows, and related Consolidated statements
changes in shareholders’ equity for such fiscal quarter and for the portion of the Company’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous fiscal
year and the corresponding portion of the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP and including management discussion and analysis of operating results inclusive of operating metrics in comparative form,
such Consolidated statements to be certified by the chief executive officer, chief financial officer, treasurer or controller who is a Responsible Officer of the Company as fairly presenting in all material respects the financial condition, results
of operations, shareholders’ equity and cash flows of the Company and its Subsidiaries, subject only to normal year-end audit adjustments and the absence of footnotes and such consolidating statements to be certified by the chief executive
officer, chief financial officer, treasurer or controller that is a Responsible Officer of the Company to the effect that such statements are fairly stated in all material respects when considered in relation to the Consolidated financial statements
of the Company and its Subsidiaries. 
 (c) Business Plan and Budget. As soon as available, but in any event within sixty
(60) days after the end of each fiscal year of the Company, an annual business plan and budget of the Company and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrowers, in form reasonably
satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Company and its Subsidiaries on a fiscal quarterly basis for the immediately following fiscal year. 

As to any information contained in materials furnished pursuant to Section 6.02(f), the Borrowers shall not be separately required to furnish such
information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Company to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified
therein. 

  
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 6.02 Certificates; Other Information. 

Deliver to the Lender, in form and detail satisfactory to the Lender: 

(a) Compliance Certificate. Concurrently with the delivery of the financial statements referred to in Sections 6.01(a) and
(b) (commencing with the delivery of the financial statements for the fiscal year ended January 31, 2017), a duly completed Compliance Certificate signed by the chief executive officer, chief financial officer, treasurer or controller
which is a Responsible Officer of the Company, and in the event of any change in generally accepted accounting principles used in the preparation of such financial statements, the Company shall also provide, if necessary for the determination of
compliance with Section 7.11, a statement of reconciliation conforming such financial statements to GAAP. Unless the Lender requests executed originals, delivery of the Compliance Certificate may be by electronic communication including fax or
email and shall be deemed to be an original and authentic counterpart thereof for all purposes. 
 (b) Updated Schedules. Concurrently
with the delivery of the Compliance Certificate referred to in Section 6.02(a), updated Schedules to this Agreement, to the extent permitted to be updated pursuant to the terms of this Agreement, which may be attached to the Compliance
Certificate, to the extent required to make the representation related to such Schedule true and correct as of the date of such Compliance Certificate. 

(c) Calculations. Concurrently with the delivery of the Compliance Certificate referred to in Section 6.02(a) required to be
delivered with the financial statements referred to in Section 6.01(a), a certificate (which may be included in such Compliance Certificate) including (i) the amount of all Restricted Payments, Investments (including Permitted
Acquisitions), Dispositions, Capital Expenditures, Debt Issuances and Equity Issuance that were made during the prior fiscal year and (ii) amounts received in connection with any Extraordinary Receipt during the prior fiscal year. 

(d) Audit Reports; Management Letters; Recommendations. Promptly after any request by the Lender, copies of any detailed audit reports,
management letters or recommendations submitted to the board of directors (or the audit committee of the board of directors) of any Loan Party by independent accountants in connection with the accounts or books of any Loan Party or any of its
Subsidiaries, or any audit of any of them. 
 (e) Annual Reports; Etc. Except to the extent publicly filed, promptly after the same
are available, copies of each annual report, proxy or financial statement or other report or communication sent generally to the stockholders of the Company, and copies of all annual, regular, periodic and special reports and registration statements
which the Borrowers may file or be required to file with the SEC under Section 13 or 15(d) of the Securities Exchange Act of 1934, or with any national securities exchange, and in any case not otherwise required to be delivered to the Lender
pursuant hereto. 
 (f) Subordinated Debt Statements and Reports. Promptly after the furnishing thereof, copies of any statement or
report furnished to any holder of Subordinated Debt of any Loan Party or of any of its Subsidiaries pursuant to the terms of any indenture, loan or credit or similar agreement and not otherwise required to be furnished to the Lender pursuant to
Section 6.01 or any other clause of this Section. 
 (g) SEC Notices. Promptly, and in any event within five (5) Business
Days after receipt thereof by any Loan Party or any Subsidiary thereof, copies of each material notice or other material correspondence received from the SEC (or comparable agency in any applicable non-U.S. jurisdiction) concerning any investigation
or possible investigation or other inquiry by such agency regarding financial or other operational results of any Loan Party or any Subsidiary thereof. 

  
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 (h) Notices. Not later than five (5) Business Days after receipt thereof by any Loan
Party or any Subsidiary thereof, copies of all notices, requests and other documents (including amendments, waivers and other modifications) so received under or pursuant to any instrument, indenture, loan or credit or similar agreement regarding or
related to any breach or default by any party thereto or any other event that could reasonably be expected to materially impair the value of the interests or the rights of any Loan Party in a manner that could, or that otherwise could reasonably be
expected to have a Material Adverse Effect and, from time to time upon request by the Lender, such information and reports regarding such instruments, indentures and loan and credit and similar agreements as the Lender may reasonably request. 

(i) Environmental Notice. Promptly after the assertion or occurrence thereof, notice of any action or proceeding against or of any
noncompliance by any Loan Party or any of its Subsidiaries with any Environmental Law or Environmental Permit that could reasonably be expected to have a Material Adverse Effect. 

(j) Additional Information. Promptly, such additional information regarding the business, financial, legal or corporate affairs of any
Loan Party or any Subsidiary thereof, or compliance with the terms of the Loan Documents, as the Lender may from time to time reasonably request. 

Documents required to be delivered pursuant to Section 6.01(a) or (b) or Section 6.02 (e) or (f) (to the extent any such documents
are included in materials otherwise filed with the SEC) may be delivered electronically and if so delivered, shall be deemed to have been delivered on the date (a) on which the Borrowers post such documents, or provides a link thereto on the
Borrowers’ website on the Internet at the website address listed on Schedule 1.01(a); or (b) on which such documents are posted on the Borrowers’ behalf on an Internet or intranet website, if any, to which the Lender has access
(whether a commercial, third-party website or whether sponsored by the Lender); provided that: (i) the Borrowers shall deliver paper copies of any such documents to the Lender upon its request to the Borrowers to deliver such paper
copies and (ii) upon Lender’s request and provide to the Lender by e-mail electronic versions (i.e., soft copies) of such documents. 
 6.03
Notices. 
 Promptly, but in any event within three (3) Business Days, notify the Lender: 

(a) of the occurrence of any Default; 

(b) of any matter that has resulted or could reasonably be expected to result in a Material Adverse Effect, including any such matter
constituting (i) breach or non-performance of, or any default under, a Contractual Obligation of the Borrowers or any Subsidiary; (ii) any dispute, litigation, investigation, proceeding or suspension between the Borrowers or any Subsidiary
and any Governmental Authority; or (iii) the commencement of, or any material development in, any litigation or proceeding affecting the Borrowers or any Subsidiary, including pursuant to any applicable Environmental Laws; 

(c) of the occurrence of any ERISA Event; 

(d) of any material change in accounting policies or financial reporting practices by any Loan Party or any Subsidiary thereof, including any
determination by the Borrowers referred to in Section 2.10(b); and 

  
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 (e) of any (i) occurrence of any Disposition of property or assets for which the Borrowers
are required to make a mandatory prepayment pursuant to Section 2.05(b)(i), (ii) Equity Issuance for which the Borrowers are required to make a mandatory prepayment pursuant to Section 2.05(b)(ii), (iii) Debt issuance for which
the Borrowers are required to make a mandatory prepayment pursuant to Section 2.05(b)(iii), and (iv) receipt of any Extraordinary Receipt for which the Borrowers are required to make a mandatory prepayment pursuant to
Section 2.05(b)(iv). 
 Each notice pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of
the Company setting forth details of the occurrence referred to therein and to the extent applicable, stating what action the Borrowers have taken and proposes to take with respect thereto. Each notice pursuant to Section 6.03(a) shall describe
with particularity any and all provisions of this Agreement and any other Loan Document that have been breached. 
 6.04 Payment of Obligations.

 Pay and discharge as the same shall become due and payable (giving effect to any available extension), all its material obligations
and liabilities, including (a) all material tax liabilities, assessments and governmental charges or levies upon it or its properties or assets, unless the same are being contested in good faith by appropriate proceedings diligently conducted
and adequate reserves in accordance with GAAP are being maintained by the Borrowers or such Subsidiary and (b) all lawful claims which, if unpaid, would by law become a Lien (other than a Permitted Lien) upon its property. 

6.05 Preservation of Existence, Etc. 

(a) Preserve, renew and maintain in full force and effect its legal existence and good standing under the Laws of the jurisdiction of its
organization except in a transaction permitted by Section 7.04 or 7.05; 
 (b) take all reasonable action to maintain all rights,
privileges, permits, licenses and franchises necessary or desirable in the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and 

(c) preserve or renew all of its registered patents, trademarks, trade names and service marks, the non-preservation of which could reasonably
be expected to have a Material Adverse Effect. 
 6.06 Maintenance of Properties. 

(a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working
order and condition, ordinary wear and tear excepted; 
 (b) make all necessary repairs thereto and renewals and replacements thereof except
where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and 
 (c) use the standard of care typical in
the industry in the operation and maintenance of its facilities. 
 6.07 Maintenance of Insurance. 

(a) Maintenance of Insurance. Maintain with financially sound and reputable insurance companies not Affiliates of the Borrowers,
insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in the same or similar business, of such types and in such amounts as are customarily carried under similar
circumstances by such other Persons, including, without limitation, terrorism insurance. 

  
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 (b) Evidence of Insurance. Cause the Lender to be named as lenders’ loss payable or
loss payee, as applicable, as its interest may appear, and/or additional insured with respect of any such insurance providing liability coverage or coverage in respect of any Collateral, and cause, unless otherwise agreed to by the Lender, each
provider of any such insurance to agree, by endorsement upon the policy or policies issued by it or by independent instruments furnished to the Lender that it will give the Lender thirty (30) days prior written notice before any such policy or
policies shall be altered or cancelled (or ten (10) days prior notice in the case of cancellation due to the nonpayment of premiums). Annually, upon expiration of current insurance coverage, the Loan Parties shall provide, or cause to be
provided, to the Lender, such evidence of insurance as required by the Lender, including, but not limited to: (i) certified copies of such insurance policies, (ii) evidence of such insurance policies (including, without limitation and as
applicable, ACORD Form 28 certificates (or similar form of insurance certificate), and ACORD Form 25 certificates (or similar form of insurance certificate)), (iii) declaration pages for each insurance policy and (iv) lender’s loss
payable endorsement if the Lender for the benefit of the Secured Parties is not on the declarations page for such policy. As requested by the Lender, the Loan Parties agree to deliver to the Lender an Authorization to Share Insurance Information.

 6.08 Compliance with Laws. 

Comply with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property,
except in such instances in which (a) such requirement of Law or order, writ, injunction or decree is being contested in good faith by appropriate proceedings diligently conducted; or (b) the failure to comply therewith could not
reasonably be expected to have a Material Adverse Effect. 
 6.09 Books and Records. 

(a) Maintain proper books of record and account, in which full, true and correct entries in conformity with GAAP (in all material respects)
consistently applied shall be made of all financial transactions and matters involving the assets and business of such Loan Party or such Subsidiary, as the case may be; and 

(b) maintain such books of record and account in material conformity with all material applicable requirements of any Governmental Authority
having regulatory jurisdiction over such Loan Party or such Subsidiary, as the case may be. 
 6.10 Inspection Rights. 

(a) Permit representatives and independent contractors of the Lender to visit and inspect any of its properties, to examine its corporate,
financial and operating records, and make copies thereof or abstracts therefrom, and to discuss its affairs, finances and accounts with its directors, officers, and independent public accountants, all at the expense of the Company and at such
reasonable times during normal business hours and as often as may be reasonably desired, upon reasonable advance notice to the Borrowers; provided, however, that when an Event of Default exists the Lender (or any of its respective
representatives or independent contractors) may do any of the foregoing at the expense of the Company at any time during normal business hours and without advance notice. 

(b) If requested by the Lender in its sole discretion, permit the Lender and its representatives, upon reasonable advance notice to the
Borrowers, to conduct, at the expense of the Company, an annual (i) personal property asset appraisal on personal property Collateral of the U.S. Loan Parties and (ii) field exam on the accounts receivable, inventory, payables, controls
and systems of the Company and its Subsidiaries. 

  
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 (c) If requested by the Lender in its sole discretion, permit the Lender, and its
representatives, upon reasonable advance notice to the Borrowers, to conduct an annual audit of the Collateral at the expense of the Company. 
 6.11
Use of Proceeds. 
 Use of the proceeds of the U.S. Term Loan to prepay
in full the principal amount of Revolving Loans outstanding on the Second Amendment Effective Date, with the balance thereof to be used for general corporate purposes not in contravention of any Law or of any Loan Document. Use the proceeds of
the Credit Extensions (other than the U.S. Term Loan) for general corporate purposes not in contravention of any Law or of any Loan Document (including, for the avoidance of doubt, as
reimbursement to the Danish Borrower for the Danish Acquisition). 
 6.12 Reserved. 

6.13 Covenant to Guarantee Obligations. 

The Loan Parties will cause each of their Subsidiaries whether newly formed, after acquired or otherwise existing to promptly (and in any
event within thirty (30) days after such Subsidiary is formed or acquired (or such longer period of time as agreed to by the Lender in its reasonable discretion)) become a Guarantor hereunder by way of execution of a Joinder Agreement;
provided, however, (i) no Subsidiary disclosed on the Schedules provided in connection with this Agreement and existing on the date hereofClosing Date
other than those listed in the signature pages hereof under the heading “Foreign Guarantor” shall be required to become a Guarantor and (ii) no Subsidiary that is a CFC shall be required to become a Guarantor hereunder with respect
to, or otherwise guarantee, any U.S. Obligations or as otherwise limited in Section 9.01(b). In connection therewith, the Loan Parties shall give notice to the Lender not less than ten (10) days prior to creating a Subsidiary (or such
shorter period of time as agreed to by the Lender in its reasonable discretion), or acquiring the Equity Interests of any other Person. In connection with the foregoing, the Loan Parties shall deliver to the Lender, with respect to each new
Guarantor to the extent applicable, substantially the same documentation required pursuant to Sections 4.01(b) and (e) and 6.14 and such other documents or agreements as the Lender may reasonably request, including without limitation,
updated Schedules 1.01(b), 5.10, 5.19(a), 5.19(b), 5.20(b), 5.20(c), 5.20(d)(i), 5.20(d)(ii), 5.20(e), 5.20(f), and 5.20(g). 
 6.14 Covenant to Give
Security. 
 Except with respect to Excluded Property: 

(a) Equity Interests and Personal Property. The U.S. Borrower and each Domestic Guarantor will cause the Pledged Equity and all of its
tangible and intangible personal property now owned or hereafter acquired by it to be subject at all times to a first priority, perfected Lien (subject to Permitted Liens to the extent permitted by the Loan Documents) in favor of the Lender for the
benefit of the Secured Parties to secure the Secured Obligations pursuant to the terms and conditions of the Collateral Documents. The U.S. Borrower and each Domestic Guarantor shall provide opinions of counsel and any filings and deliveries
reasonably necessary in connection therewith to perfect the security interests therein, all in form and substance reasonably satisfactory to the Lender promptly (and in any event within thirty (30) days, after such Pledged Equity and personal
property is acquired or formed, as applicable, or such longer period of time as agreed to by the Lender in its reasonable discretion). 
 (b)
Reserved. 

  
 76 

 (c) Reserved. 

(d) Deposit Accounts and Securities Accounts. After the date that is ninety (90) days after the Closing Date (or such longer time
as the Lender may agree in its sole discretion), neither the U.S. Borrower nor any of the Domestic Guarantors shall open, maintain or otherwise have any deposit or other accounts (including securities accounts) at any bank or other financial
institution other than the Lender, or any other account where money or securities are or may be deposited or maintained with any Person, other than (w) the accounts set forth on Schedule 6.14 and designated as unrestricted accounts;
provided that other than the accounts held at Wells Fargo Bank, National Association as of the Closing Date, the balance in any such account (other than the Foreign Accounts) does not exceed $100,000 and the aggregate balance in all such
accounts does not exceed $250,000 (the “Excluded Accounts”), (x) the foreign accounts set forth on Schedule 6.14 (the “Foreign Accounts”), provided that, at all times on, or after, the date that is
ninety (90) days after the Closing Date, the balance of each of the Foreign Accounts shall not exceed the Dollar Equivalent of $500,000, (y) deposit accounts that are maintained at all times with depository institutions as to which the
Lender shall have received a Qualifying Control Agreement, provided that no Qualifying Control Agreements shall be required to be delivered prior to the date that is ninety (90) days after the Closing Date, or at any time prior to the
occurrence and during the continuance of an Event of Default, with respect to the Excluded Accounts or the Foreign Accounts and (z) solely with respect to securities accounts, securities accounts that are maintained at all times with
financial institutions as to which the Lender shall have received a Qualifying Control Agreement. 
 (e) Updated Schedules.
Concurrently with the delivery of any Collateral pursuant to the terms of this Section, the Borrowers shall provide the Administrative Agent with the applicable updated Schedules: 5.19(a), 5.19(b), 5.20(b)(i), 5.20(c), 5.20(d)(i), 5.20(d)(ii),
5.20(e), 5.20(f), and 5.20(g). 
 (f) Further Assurances. Subject to Section 6.15, at any time upon request of the Lender,
promptly execute and deliver any and all further instruments and documents and take all such other action (including promptly completing any registration or stamping of documents as may be applicable) as the Lender may deem necessary or desirable to
maintain in favor of the Lender, for the benefit of the Secured Parties, Liens and insurance rights on the Collateral that are duly perfected in accordance with the requirements of, or the obligations of the U.S. Loan Parties under, the Loan
Documents and all applicable Laws. 
 6.15 Further Assurances. 

Promptly upon request by the Lender, (a) correct any material defect or error that may be discovered in any Loan Document or in the
execution, acknowledgment, filing or recordation thereof, and (b) do, execute, acknowledge, deliver, record, re-record, file, re-file, register and re-register any and all such further acts, deeds, certificates, assurances and other instruments
(including promptly completing any registration or stamping of documents as may be applicable) as the Lender may reasonably require from time to time in order to (i) carry out more effectively the purposes of the Loan Documents, (ii) to
the fullest extent permitted by applicable Law, subject any Loan Party’s or any of its Subsidiaries’ properties, assets, rights or interests to the Liens now or hereafter intended to be covered by any of the Collateral Documents,
(iii) perfect and maintain the validity, effectiveness and priority of any of the Collateral Documents and any of the Liens intended to be created thereunder and (iv) assure, convey, grant, assign, transfer, preserve, protect and confirm
more effectively unto the Secured Parties the rights granted or now or hereafter intended to be granted to the Secured Parties under any Loan Document or under any other instrument executed in connection with any Loan Document to which any Loan
Party or any of its Subsidiaries is or is to be a party, and cause each of its Subsidiaries to do so; provided however, unless an Event of Default shall have occurred and be continuing, the U.S. Loan Parties shall not be required to obtain a
landlord waiver, collateral access agreement or similar waiver or agreement with respect to any location of a U.S. Loan Party where any personal property Collateral is located. 

  
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 6.16 Reserved. 

6.17 Compliance with Environmental Laws. 

Except as could not reasonably be expected to result in a Material Adverse Effect: (i) comply, and cause all lessees and other Persons
operating or occupying its properties to comply with all applicable Environmental Laws and Environmental Permits; (ii) obtain and renew all Environmental Permits necessary for its operations and properties; and (iii) conduct any
investigation, study, sampling and testing, and undertake any cleanup, removal, remedial or other action necessary to remove and clean up all Hazardous Materials from any of its properties, in accordance with the requirements of all Environmental
Laws; provided, however, that neither the Borrowers nor any of their Subsidiaries shall be required to undertake any such cleanup, removal, remedial or other action to the extent that its obligation to do so is being contested in good
faith and by proper proceedings and appropriate reserves are being maintained with respect to such circumstances in accordance with GAAP. 
 6.18
Preparation of Environmental Reports. 
 At the reasonable request of the Lender from time to time, provide to the Lender within
sixty (60) days after such request, at the expense of the Borrowers, an environmental site assessment report for any of its properties described in such request, prepared by an environmental consulting firm acceptable to the Lender, indicating
the presence or absence of Hazardous Materials and the estimated cost of any compliance, removal or remedial action in connection with any Hazardous Materials on such properties; without limiting the generality of the foregoing, if the Lender
determines at any time that a material risk exists that any such report will not be provided within the time referred to above, the Lender may retain an environmental consulting firm to prepare such report at the expense of the Borrowers, and the
Borrowers hereby grant and agree to cause any Subsidiary that owns any property described in such request to grant at the time of such request to the Lender, such firm and any agents or representatives thereof an irrevocable non-exclusive license,
subject to the rights of tenants, to enter onto their respective properties to undertake such an assessment. 
 6.19 Approvals and Authorizations.

 Maintain all authorizations, consents, approvals and licenses from, exemptions of, and filings and registrations with, each
Governmental Authority of the jurisdiction in which each Foreign Obligor is organized and existing, and all approvals and consents of each other Person in such jurisdiction, in each case that are required in connection with the Loan Documents. 

6.20 Anti-Corruption Laws. 

Conduct its business in compliance with the United States Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other similar
anti-corruption legislation in other jurisdictions and maintain policies and procedures designed to promote and achieve compliance with such laws. 

6.21 Post-Closing ObligationsReserved. 

(a) Within ninety (90) days of the Closing Date (or such longer time as the Lender may agree in its sole discretion), maintain its
principal deposit accounts with the Lender or its Affiliates. 

  
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 (b) Within sixty (60) days of the Closing Date (or such longer time as the Lender
may agree in its sole discretion), the Danish Borrower shall amend its Organization Documents to not require board approval or consent for the transfer of any shares of the Danish Borrower.  

(c) Within sixty (60) days of the Closing Date (or such longer time as the Lender may agree in its sole discretion), the Company
shall deliver to the Lender executed copies of all notes evidencing intercompany Indebtedness as required and permitted by Section 7.02(d), in each case in form and substance reasonably satisfactory to the Lender.  

(d) Within forty-five (45) days of the Closing Date (or such longer time as the Lender may agree in its sole discretion), the
Company shall deliver to the Lender endorsements of insurance as set forth in Section 6.07, in form and substance reasonably satisfactory to the Lender.  

(e) Within sixty (60) days of the Closing Date (or such longer time as the Lender may agree in its sole discretion), the Danish
Borrower shall deliver to the Lender evidence of an acknowledgment in the Danish Borrower’s shareholders’ registry of the Lender’s security interest in the Pledged Equity, in form and substance reasonably satisfactory to the Lender.
 
 6.22 Pari Passu Ranking. 

Ensure that the payment obligations of the Foreign Obligors under the Loan Documents rank and continue to rank at least pari passu with
the claims of all of the Foreign Obligors’ other unsecured and unsubordinated creditors, except for obligations mandatorily preferred by law applying to companies generally. 

ARTICLE VII 
 NEGATIVE
COVENANTS 
 Each of the Loan Parties hereby covenants and agrees that on the Closing Date and thereafter until the Facility Termination
Date, no Loan Party shall, nor shall it permit any Subsidiary to, directly or indirectly: 
 7.01 Liens. 

Create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired,
except for the following (the “Permitted Liens”): 
 (a) Liens pursuant to any Loan Document, any Secured Hedge Agreement or
any Secured Cash Management Agreement; 
 (b) Liens existing on the Closing Date and listed on Schedule 7.01 and any renewals or
extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount secured or benefited thereby is not increased except as contemplated by Section 7.02(b), (iii) no direct or any contingent obligor
with respect thereto is added and (iv) any renewal or extension of the obligations secured or benefited thereby is permitted by Section 7.02(b); 

(c) Liens for taxes, assessments and government chargers not yet due or which are being contested in good faith and by appropriate proceedings
diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in accordance with GAAP; 

  
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 (d) Statutory Liens such as carriers’, warehousemen’s, mechanics’,
materialmen’s, repairmen’s or other like Liens arising in the ordinary course of business which secure amounts that are not overdue for a period of more than sixty (60) days, or which are being contested in good faith and by
appropriate proceedings diligently conducted; provided adequate reserves with respect thereto are maintained on the books of the applicable Person; 

(e) pledges or deposits (including obligations with respect to letters of credit or bank guarantees issued in lieu of such deposits or pledges)
in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 

(f) deposits to secure the performance of bids, trade contracts and leases (other than Indebtedness), statutory obligations, surety and appeal
bonds, performance bonds and other obligations of a like nature (including obligations with respect to letters of credit or bank guarantees issued in lieu of such deposits) incurred in the ordinary course of business; 

(g) easements, rights-of-way, restrictions and other similar encumbrances affecting real property which, in the aggregate, are not substantial
in amount, and which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

(h) Liens securing judgments for the payment of money (or appeal or other surety bonds relating to such judgments) not constituting an Event of
Default under Section 8.01(h); 
 (i) Liens securing Indebtedness permitted under Section 7.02(c); provided that
(i) such Liens do not at any time encumber any property other than the property financed by such Indebtedness and (ii) the Indebtedness secured thereby does not exceed the cost or fair market value, whichever is lower, of the property
being acquired on the date of acquisition; 
 (j) bankers’ Liens, rights of setoff and other similar Liens existing solely with respect
to cash and Cash Equivalents on deposit in one or more accounts maintained by the Company or any of its Subsidiaries with the Lender, in each case in the ordinary course of business in favor of the bank or banks with which such accounts are
maintained, securing solely the customary amounts owing to such bank with respect to cash management and operating account arrangements; provided, that in no case shall any such Liens secure (either directly or indirectly) the repayment of
any Indebtedness; 
 (k) Liens arising out of judgments or awards not resulting in an Event of Default; provided the applicable Loan
Party or Subsidiary shall in good faith be prosecuting an appeal or proceedings for review; 
 (l) Any interest or title of a lessor, lessee,
licensor, licensee, sublessor or sublessee under any lease, license or sublease entered into by any Loan Party or any Subsidiary thereof in the ordinary course of business and covering only the assets so leased, licensed or subleased, and any
statutory Liens securing obligations owing to landlords under leases in the ordinary course of business; 
 (m) Liens of a collection bank
arising under Section 4-210 of the UCC on items in the course of collection; 
 (n) Any zoning, building or similar laws or rights
reserved to or vested in any Governmental Authority; 

  
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 (o) Liens in favor of any Foreign Obligation Provider securing the Foreign Subsidiary Secured
Obligations permitted pursuant to Section 7.02(g); 
 (p) Liens on property of a Person existing at the time such Person is merged into
or consolidated with the Company or any Subsidiary of the Company or becomes a Subsidiary of the Company; provided that such Liens were not created in contemplation of such merger, consolidation or Investment and do not extend to any assets other
than those of the Person merged into or consolidated with the Company or such Subsidiary or acquired by the Company or such Subsidiary; and 

(q) other Liens on specific assets securing Indebtedness or other obligations outstanding in an aggregate principal amount not to exceed
$1,000,000 at any time, provided that no such Lien shall be a Lien on all or substantially all assets of any Loan Party. 
 7.02
Indebtedness. 
 Create, incur, assume or suffer to exist any Indebtedness, except: 

(a) Indebtedness under the Loan Documents; 

(b) Indebtedness outstanding on the date hereofClosing Date and
listed on Schedule 7.02 and any refinancings, refundings, renewals or extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal or extension except by an
amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such refinancing and by an amount equal to any existing commitments unutilized thereunder and no direct or any
contingent obligor with respect thereto is added, as a result of or in connection with such refinancing, refunding, renewal or extension; and, still further, that the terms relating to principal amount, amortization, maturity, collateral (if any)
and subordination, standstill and related terms (if any), and other material terms taken as a whole, of any such refinancing, refunding, renewing or extending Indebtedness, and of any agreement entered into and of any instrument issued in connection
therewith, are no less favorable in any material respect to the Loan Parties or the Lender than the terms of any agreement or instrument governing the Indebtedness being refinanced, refunded, renewed or extended and the interest rate applicable to
any such refinancing, refunding, renewing or extending Indebtedness does not exceed the then applicable market interest rate; 
 (c) (i)
Indebtedness in respect of Capitalized Leases, Synthetic Lease Obligations and purchase money obligations for the acquisition of fixed or capital assets (other than in a Permitted Acquisition) within the limitations set forth in
Section 7.01(i); provided, however, that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $2,500,000; and (ii) Indebtedness of a Person that becomes a subsidiary after the
date hereofClosing Date in connection with a Permitted Acquisition (but not incurred in contemplation thereof) in respect of Capitalized Leases, Synthetic Lease Obligations
and purchase money obligations for fixed or capital assets within the limitations set forth in Section 7.01(i); provided that the aggregate amount of all such Indebtedness at any one time outstanding shall not exceed $2,500,000; 

(d) Unsecured Indebtedness of a Subsidiary of a Borrower owed to a Borrower or a wholly-owned Subsidiary of a Borrower, which Indebtedness
shall meet the following requirements: (i) to the extent required by the Lender, or in any event in the case of IndebtednessesIndebtedness by any Subsidiary of the
Company to any U.S. Loan Party shall be evidenced by promissory notes and be pledged to the Lender as Collateral for the Secured Obligations in accordance with the terms of the Security Agreement, (ii) with respect to any Indebtedness owed by a
U.S. Loan Party to any Subsidiary that is not a U.S. Loan Party or by any Foreign Obligor to any Subsidiary that is not a Loan Party, be on terms (including subordination terms) reasonably acceptable to the Lender and (iii) be otherwise
permitted under the provisions of Section 7.03 (“Intercompany Debt”); 

  
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 (e) Guarantees of any Borrower or any Subsidiary in respect of Indebtedness otherwise permitted
hereunder of any Borrower or Subsidiary; provided that any guaranty by a U.S. Loan Party of Indebtedness of a Subsidiary that is not a U.S. Loan Party shall only be permitted to the extent constituting an investment permitted by
Section 7.03(c); 
 (f) obligations (contingent or otherwise) existing or arising under any Swap Contract, provided that (i) such
obligations are (or were) entered into by such Person in the ordinary course of business for the purpose of directly mitigating risks associated with fluctuations in interest rates or foreign exchange rates and (ii) such Swap Contract does not
contain any provision exonerating the non-defaulting party from its obligation to make payments on outstanding transactions to the defaulting party; 

(g) Indebtedness under the Foreign Obligation Loan Documents; 

(h) Indebtedness secured by Liens permitted by Section 7.01(q), and extensions, renewals and refinancing thereof, provided that the
aggregate principal amount of all such Indebtedness at any time outstanding shall not exceed $1,000,000; 
 (i) in connection with any
Permitted Acquisition, Indebtedness owing to seller(s) of a Target in the form of unsecured seller notes or earnouts incurred in connection therewith, provided that (i) at the time of incurrence of any such Indebtedness, and after giving effect
thereto, no Event of Default then exists or would result therefrom and (ii) such seller notes and earnouts shall not exceed 25% of the Cost of Acquisition for such Permitted Acquisition; 

(j) Indebtedness secured by Liens permitted by Section 7.01(e) or Section 7.01(f), incurred in the ordinary course of business; 

(k) Indebtedness consisting of unpaid insurance premiums (not in excess of one (1) year’s premiums) owing to insurance companies and
insurance brokers incurred in connection with the financing of insurance premiums in the ordinary course of business; 
 (l) unsecured
Indebtedness incurred by the Company to repurchase Qualified Equity Interests of the Company issued to employees, consultants, agents, officers and directors of the Company provided that at the time of incurrence of any such Indebtedness, and after
giving effect thereto, no Event of Default exists or would result therefrom and subject to the limitation as set forth in Section 7.06(d); and 

(m) other unsecured Indebtedness not contemplated by the above provisions in an aggregate principal amount not to exceed $100,000 at any time
outstanding; provided that, at the time of the incurrence thereof the Loan Parties are in Pro Forma Compliance with each of the financial covenants set forth in Section 7.11. 

7.03 Investments. 
 Make or hold
any Investments, except: 
 (a) Investments held by the Company and its Subsidiaries in the form of cash or Cash Equivalents; 

  
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 (b) advances to officers, directors and employees of the Borrowers and Subsidiaries in an
aggregate amount not to exceed $500,000 at any time outstanding, for travel, entertainment, relocation and analogous ordinary business purposes; 

(c) (i) Investments by the Company and its Subsidiaries in their respective Subsidiaries outstanding on the date
hereofClosing Date, (ii) additional Investments by the Company and its Subsidiaries in Domestic Subsidiaries that are Loan Parties, (iii) additional Investments by
Subsidiaries of the Company that are not Loan Parties (other than inactive Subsidiaries per Section 7.18) in other Subsidiaries that are not Loan Parties, (iv) so long as no Default has occurred and is continuing or would result from
making such Investment at the time of the making of such Investment, additional Investments by the Company and its Subsidiaries in wholly-owned Foreign Subsidiaries that are Loan Parties in an aggregate amount invested from the date
hereofClosing Date not to exceed $5,000,000 and (v) so long as no Default has occurred and is continuing or would result from making such Investment at the time of the making
of such Investment, additional Investments by the Company and its Subsidiaries in wholly-owned Foreign Subsidiaries that are not Loan Parties in an aggregate amount invested from the date
hereofClosing Date not to exceed $2,500,000 or such higher amount as may be required for the payment of Cost of Acquisition with respect to any Permitted Acquisition by a Foreign
Subsidiary, provided in each case, the provisions of Section 7.2(d) shall be met with respect to Intercompany Debt. 
 (d) Investments
consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled account debtors to the extent reasonably necessary in order to prevent or limit loss; 
 (e) Guarantees permitted by
Section 7.02; 
 (f) Investments existing on the date
hereofClosing Date (other than those referred to in Section 7.03(c)(i)) and set forth on Schedule 7.03; 

(g) Permitted Acquisitions (other than of CFCs and Subsidiaries held directly or indirectly by a CFC, which Investments are covered by
Section 7.03(c)(iv)); 
 (h) Investments (including debt obligations) received in connection with the bankruptcy or reorganization of
suppliers and customers and in settlement of delinquent obligations of, and other disputes with, customers and suppliers arising in the ordinary course of business; 

(i) other Investments not contemplated by the above provisions not exceeding $1,000,000 in the aggregate in any fiscal year of the Company;

 (j) Investments by the Company in the Danish Borrower in any Fiscal Quarter in an aggregate amount not to exceed the aggregate amount of
regularly scheduled payments of principal and interest owed by the Danish Borrower hereunder in such Fiscal Quarter; 
 (k) Investments by
the Company in the a Foreign Subsidiary in the amount equal to any earnout payments due from a Foreign Subsidiary with respect to the Danish Acquisition or any other Permitted Acquisition; and 

(l) Investments by foreign branch operations of the Company (subject to the limitations on Foreign Accounts set forth in Section 6.14(d))
or by Foreign Subsidiaries in Foreign Cash Equivalents. 

  
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 7.04 Fundamental Changes. 

Merge, dissolve, liquidate, consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions)
all or substantially all of its assets (whether now owned or hereafter acquired) to or in favor of any Person, except that, so long as no Default exists or would result therefrom: 

(a) any Subsidiary may merge with (i) a Borrower; provided that a Borrower shall be the continuing or surviving Person, or
(ii) any one or more other Subsidiaries, provided that when any Loan Party is merging with another Subsidiary, such Loan Party shall be the continuing or surviving Person; 

(b) any Loan Party may Dispose of all or substantially all of its assets (upon voluntary liquidation or otherwise) to a Borrower or to another
Loan Party; 
 (c) any Subsidiary that is not a Loan Party may dispose of all or substantially all its assets (including any Disposition that
is in the nature of a liquidation) to (i) another Subsidiary that is not a Loan Party or (ii) to a Loan Party; and subsequently dissolve following such Disposition; 

(d) in connection with any Permitted Acquisition, any Subsidiary of a Borrower may merge into or consolidate with any other Person or permit
any other Person to merge into or consolidate with it; provided that (i) the Person surviving such merger shall be a wholly-owned Subsidiary of a Borrower and (ii) in the case of any such merger to which any Loan Party (other than a
Borrower) is a party, such Loan Party is the surviving Person; and 
 (e) so long as no Default has occurred and is continuing or would
result therefrom, each of the Borrowers and any of their Subsidiaries may merge into or consolidate with any other Person or permit any other Person to merge into or consolidate with it; provided, however, that in each case,
immediately after giving effect thereto (i) in the case of any such merger to which a Borrower is a party, a Borrower is the surviving Person and (ii) in the case of any such merger to which any Loan Party (other than a Borrower) is a
party, such Loan Party is the surviving Person. 
 7.05 Dispositions. 

Make any Disposition or enter into any agreement to make any Disposition, except: 

(a) Permitted Transfers; 
 (b)
Dispositions of obsolete or worn out property or property no longer used or useful in the disposing party’s business, in each case, whether now owned or hereafter acquired, in the ordinary course of business; 

(c) Dispositions of equipment or real property to the extent that (i) such property is exchanged for credit against the purchase price of
similar replacement property or (ii) the proceeds of such Disposition are reasonably promptly applied to the purchase price of such replacement property; 

(d) Dispositions permitted by Section 7.04 or Section 7.06 or constituting Investments permitted under Section 7.03; 

(e) Dispositions of accounts receivables to a third party in connection with the compromise, settlement or collection thereof in the ordinary
course of business exclusive of factoring or similar arrangements so long as (i) the account debtor with respect thereto has instituted or consented to the institution of any proceeding under any Debtor Relief Law and (ii) all such
Dispositions do not exceed $500,000 in the aggregate in any fiscal year; 

  
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 (f) other Dispositions so long as (i) the consideration paid in connection therewith shall
be cash or Cash Equivalents paid contemporaneously with consummation of the transaction and shall be in an amount not less than the fair market value of the property disposed of, (ii) if such transaction is a Sale and Leaseback Transaction,
such transaction is not prohibited by the terms of Section 7.14, (iii) such transaction does not involve the sale or other disposition of a minority Equity Interests in any Subsidiary, (iv) such transaction does not involve a sale or
other disposition of receivables other than receivables owned by or attributable to other property concurrently being disposed of in a transaction otherwise permitted under this Section, and (v) the aggregate net book value of all of the assets
sold or otherwise disposed of by the Loan Parties and their Subsidiaries in all such transactions occurring after the Closing Date shall not exceed $500,000; and 

(g) any Involuntary Disposition not reasonably expected to result in a Material Adverse Effect. 

7.06 Restricted Payments. 
 Declare
or make, directly or indirectly, any Restricted Payment, or incur any obligation (contingent or otherwise) to do so, or, solely in the case of Subsidiaries issue or sell any Equity Interests or accept any capital contributions, except that, so long
as no Default shall have occurred and be continuing at the time of any action described below or would result therefrom: 
 (a) each
Subsidiary may make Restricted Payments to any Person that owns Equity Interests in such Subsidiary, ratably according to their respective holdings of the type of Equity Interest in respect of which such Restricted Payment is being made, including
without limitation any Restricted Payment of AstroNova GMBH to the Company made for the purpose of enabling Company to advance funds to the Danish Borrower in any Fiscal Quarter, as permitted pursuant to Section 7.03(j) in an amount equal to
the regularly scheduled payments of principal and interest of the Danish Term Loan due in such Fiscal Quarter; 

(b) the Borrowers and each Subsidiary may declare and make dividend payments or other distributions payable solely in Qualified Equity
Interests of such Person; 
 (c) any Subsidiary may issue or sell any Qualified Equity Interest to either Borrower or Subsidiary if any
related or resulting Investment would otherwise be permitted under Section 7.03; 
 (d) so long as no Event of Default then exists or
would immediately result therefrom, the Company may redeem, repurchase or acquire Qualified Equity Interests of the Company issued to employees, consultants, agents, officers and directors of the Company, provided that the aggregate amount of all
such redemptions do not exceed $500,000 during any fiscal year; 
 (e) so long as the Loan Parties are in Pro Forma Compliance with each of
the financial covenants set forth in Section 7.11 after giving effect thereto, the Company may declare and pay dividends on its Qualified Equity Interests in an aggregate amount not to exceed $2,500,000 in any fiscal year; 

(f) so long as no Event of Default then exists or would immediately result therefrom and the Loan Parties are in Pro Forma Compliance with each
of the financial covenants set forth in Section 7.11 after giving effect thereto, the Company may repurchase Qualified Equity Interests of the Company, provided that the aggregate amount of all such redemptions do not exceed $5,000,000 in any
fiscal year (except for the fiscal year ending January 31, 2018, for which the aggregate amount of all such redemptions shall not exceed $12,000,000); and 

  
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 (g) the Company may issue Qualified Equity interests. 

7.07 Change in Nature of Business. 

Engage in any material line of business substantially different from those lines of business conducted by the Company and its Subsidiaries on
the date hereofClosing Date or any business substantially related or incidental thereto. 

7.08 Transactions with Affiliates. 

Enter into or permit to exist any transaction or series of transactions with any officer, director or Affiliate of such Person other than
(a) advances of working capital among other U.S. Loan Parties, (b) transfers of cash and assets among U.S. Loan Parties or any cash and assets from any Subsidiary that is not a Loan Party to any Loan Party, (c) intercompany
transactions expressly permitted by this Agreement, (d) normal and reasonable compensation and reimbursements of expenses, and indemnifications of officers and directors, (e) other transactions among U.S. Loan Parties,
(f) transactions among Foreign Obligors, (g) transactions among Subsidiaries that are not Loan Parties, (i) employment, service, and severance agreements with officers and directors in the ordinary course of business and
(j) except as otherwise specifically limited in this Agreement, other transactions which are entered into in the ordinary course of such Person’s business on fair and reasonable terms and conditions substantially as favorable to such
Person as would be obtainable by it in a comparable arms-length transaction with a Person other than an officer, director or Affiliate, provided, that no Foreign Obligor will engage in any transactions that
would violate any capital maintenance requirement under applicable law or limit in any way the enforcement or amount of its Foreign Subsidiary Guaranty. 

7.09 Burdensome Agreements. 

Enter into, or permit to exist, any Contractual Obligation (except for this Agreement and the other Loan Documents)
that (a) encumbers or restricts the ability of (i) any such Person to act as a Loan Party (to the extent required by the Loan Documents); (ii) any Subsidiary to make Restricted Payments to any Loan Party, (iii) any
Subsidiary to pay any Indebtedness or other obligation owed to any Loan Party, (iv) any Subsidiary to make loans or advances to any Loan Party, or (v) any Loan Party to create in favor of the Lender or any of the other Secured
Parties any Lien upon any of its properties or assets, whether now owned or hereafter acquired, except (x) encumbrances or restrictions under or by reason of applicable law, (y) non-assignment provisions or other restrictions on transfer
existing under lease, license or other contract, and (z) in the case of clause (a)(v) only, for any document or instrument governing Indebtedness incurred pursuant to Section 7.02(c), provided that any such restriction
contained therein relates only to the asset or assets constructed or acquired in connection therewith, or (b) requires the grant of any Lien on property for any obligation if a Lien on such property is given as security for the
Secured Obligations. 
 7.10 Use of Proceeds. 

Use the proceeds of any Credit Extension, whether directly or indirectly, and whether immediately, incidentally or ultimately, to purchase or
carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally incurred for such purpose. 

  
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 7.11 Financial Covenants. 

(a) Consolidated Leverage Ratio. Permit the Consolidated Leverage Ratio as of the end of any Measurement Period ending as of the end of
any fiscal quarterFiscal Quarter of the Company to be greater than 3.00 to 1.00. 

(b) Consolidated Fixed Charge Coverage Ratio. Permit the Consolidated Fixed Charge Coverage Ratio as of the end of any Measurement
Period ending as of the end of any fiscal quarterFiscal Quarter of the Company to be less than 1.25 to
1.00.; provided that, for any Measurement Period that includes the fiscal quarter ending July 31, 2017, the aggregate amount paid in cash for the Ondis Share
Repurchase, up to an aggregate amount not to exceed $12,000,000, shall not be included in the amount of Restricted Payments deducted from Consolidated EBITDA in the numerator of the definition of Consolidated Fixed Charge Coverage Ratio for purposes
of calculating such Consolidated Fixed Charge Coverage Ratio. 
 7.12 Reserved. 

7.13 Amendments of Organization Documents; Fiscal Year; Legal Name, State of Formation; Form of Entity and Accounting Changes. 

(a) Amend any of its Organization Documents if such amendment would be materially adverse to the interests of the Lender; 

(b) change its fiscal year; 
 (c)
without providing ten (10) days prior written notice to the Lender (or such extended period of time as agreed to by the Lender), change its name, state of formation, form of organization or principal place of business; 

(d) make any material change in accounting policies or reporting practices, except as required by GAAP; or 

(e) amend the Share Purchase Agreement in a manner materially adverse to the Lender. 

7.14 Sale and Leaseback Transactions. Enter into any Sale and Leaseback Transaction. 

7.15 Prepayments, Etc. of Indebtedness. 

Prepay, redeem, purchase, defease or otherwise satisfy any Subordinated Debt prior to the scheduled maturity thereof in any manner (including
by the exercise of any right of setoff) (or obligate itself to do so), or make any payment in violation of any subordination, standstill or collateral sharing terms of or governing any Subordinated
IndebtednessDebt. 
 7.16 Sanctions. 

Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension, or lend, contribute or otherwise make available such
Credit Extension or the proceeds of any Credit Extension to any Person, to fund any activities of or business with any Person, or in any Designated Jurisdiction, that, at the time of such funding, is the subject of Sanctions, or in any other manner
that will result in a violation by any Person of Sanctions. 

  
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 7.17 Anti-Corruption Laws. 

Directly or indirectly, use any Credit Extension or the proceeds of any Credit Extension for any purpose which would breach the United States
Foreign Corrupt Practices Act of 1977, the UK Bribery Act 2010 and other similar anti-corruption legislation in other jurisdictions. 
 7.18 AstroNova
Aerospace, Inc. 
 The Loan Parties shall not permit AstroNova Aerospace, Inc. to incur any liabilities or hold any assets other
than de minimis assets and liabilities pending dissolution. 
 ARTICLE VIII 

EVENTS OF DEFAULT AND REMEDIES 
 8.01
Events of Default. 
 Any of the following shall constitute an Event of Default: 

(a) Non-Payment. The Borrowers or any other Loan Party fail to pay (i) when and as required to be paid herein and in the currency
required hereunder, any amount of principal of any Loan or any L/C Obligation or deposit any funds as Cash Collateral in respect of L/C Obligations, or (ii) within three (3) days after the same becomes due, any interest on any Loan or on
any L/C Obligation, or any fee due hereunder, or (iii) within five (5) days after the same becomes due, any other amount payable hereunder or under any other Loan Document; or 

(b) Specific Covenants. Any Loan Party fails to perform or observe any term, covenant or agreement contained in any of
Section 6.01, 6.02, 6.03, 6.05(a), 6.08, 6.10, 6.11, Article VII or Article IX; or 
 (c) Other Defaults. Any Loan Party fails to
perform or observe any other covenant or agreement (not specified in Section 8.01(a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues for thirty (30) days; or 

(d) Representations and Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf
of the Borrowers or any other Loan Party herein, in any other Loan Document, or in any document delivered in connection herewith or therewith shall be incorrect or misleading in any material respect (or in any respect to the extent qualified by
materiality) when made or deemed made, or 
 (e) Cross-Default. (i) Any Loan Party or any Subsidiary thereof (A) fails to
make any payment when due (whether by scheduled maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee of Indebtedness (other than Indebtedness hereunder and Indebtedness under Swap Contracts)
having an aggregate principal amount (including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount, or (B) fails to observe or perform any other agreement or condition relating
to any such Indebtedness or Guarantee or contained in any instrument or agreement evidencing, securing or relating thereto, or any other event occurs, the effect of which default or other event is to cause, or to permit the holder or holders of such
Indebtedness or the beneficiary or beneficiaries of such Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or beneficiaries) to cause, with the 

  
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giving of notice if required, such Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase,
prepay, defease or redeem such Indebtedness to be made, prior to its stated maturity, or such Guarantee to become payable or cash collateral in respect thereof to be demanded; (ii) there occurs under any Swap Contract an Early Termination Date
(as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which a Loan Party or any Subsidiary thereof is the Defaulting Party (as defined in such Swap Contract) or (B) any Termination Event
(as so defined) under such Swap Contract as to which a Loan Party or any Subsidiary thereof is an Affected Party (as so defined) and, in either event, the Swap Termination Value owed by such Loan Party or such Subsidiary as a result thereof is
greater than the Threshold Amount or (iii) there occurs any default or event of default under any Foreign Obligation Loan Document; or 

(f) Insolvency Proceedings, Etc. Any Loan Party or any Subsidiary thereof institutes or consents to the institution of any proceeding
under any Debtor Relief Law, or makes an assignment for the benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any
material part of its property; or any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of such Person and the appointment continues undischarged or unstayed for
sixty (60) calendar days; or any proceeding under any Debtor Relief Law relating to any such Person or to all or any material part of its property is instituted without the consent of such Person and continues undismissed or unstayed for sixty
(60) calendar days, or an order for relief is entered in any such proceeding; or 
 (g) Inability to Pay Debts; Attachment.
(i) Any Loan Party or any Subsidiary thereof becomes unable or admits in writing its inability or fails generally to pay its debts as they become due, or (ii) any writ or warrant of attachment or execution or similar process is issued or
levied against all or any material part of the property of any such Person and is not released, vacated or fully bonded within thirty (30) days after its issue or levy; or 

(h) Judgments. There is entered against any Loan Party or any Subsidiary thereof (i) one or more final judgments or orders for the
payment of money in an aggregate amount (as to all such judgments and orders) exceeding the Threshold Amount (to the extent not covered by independent third-party insurance as to which the insurer is rated at least “A” by A.M. Best
Company, has been notified of the potential claim and does not dispute coverage), or (ii) any one or more non-monetary final judgments that have, or could reasonably be expected to have, individually or in the aggregate, a Material Adverse
Effect and, in either case, (A) enforcement proceedings are commenced by any creditor upon such judgment or order, or (B) there is a period of thirty (30) consecutive days during which a stay of enforcement of such judgment, by reason
of a pending appeal or otherwise, is not in effect; or 
 (i) ERISA. (i) An ERISA Event occurs with respect to a Pension Plan or
Multiemployer Plan which has resulted or could reasonably be expected to result in liability of any Loan Party under Title IV of ERISA to the Pension Plan, Multiemployer Plan or the PBGC in an aggregate amount in excess of the Threshold Amount, or
(ii) the Borrowers or any ERISA Affiliate fails to pay when due, after the expiration of any applicable grace period, any installment payment with respect to its withdrawal liability under Section 4201 of ERISA under a Multiemployer Plan
in an aggregate amount in excess of the Threshold Amount; or 
 (j) Invalidity of Loan Documents. Any provision of any Loan Document,
at any time after its execution and delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all Obligations arising under the Loan Documents, ceases to be in full force and effect; or any Loan
Party or any other Person contests in any manner the validity or enforceability of any 

  
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provision of any Loan Document; or any Loan Party denies that it has any or further liability or obligation under any provision of any Loan Document, or purports to revoke, terminate or rescind
any provision of any Loan Document or it is or becomes unlawful for a Loan Party to perform any of its obligations under the Loan Documents; or 

(k) Collateral Documents. Any Collateral Document after delivery thereof pursuant to the terms of the Loan Documents shall for any
reason cease to create a valid and perfected first priority Lien (subject to Permitted Liens) on the Collateral purported to be covered thereby (subject to any exceptions or other terms set forth in the Collateral Documents), or any Loan Party shall
assert the invalidity of such Liens; or 
 (l) Change of Control. There occurs any Change of Control. 

If a Default shall have occurred under the Loan Documents, then such Default will continue to exist until it either is cured (to the extent
specifically permitted) in accordance with the Loan Documents or is otherwise expressly waived by Lender as determined in accordance with Section 10.01; and once an Event of Default occurs under the Loan Documents, then such Event of Default
will continue to exist until it is expressly waived by the Lender, as required hereunder in Section 10.01. 
 8.02 Remedies upon Event of
Default. 
 If any Event of Default occurs and is continuing, the Lender may take any or all of the following actions: 

(a) declare the CommitmentCommitments of the Lender to make Loans
and L/C Credit Extensions to be terminated, whereupon such commitments and obligation shall be terminated; 
 (b) declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrowers; 
 (c) require that the Borrowers Cash Collateralize the L/C
Obligations (in an amount equal to the Minimum Collateral Amount with respect thereto); and 
 (d) exercise all rights and remedies available
to it under the Loan Documents or applicable Law or equity; 
 provided, however, that upon the occurrence of an actual or deemed entry of an
order for relief with respect to the Borrowers under the Bankruptcy Code of the United States, the obligation of the Lender to make Loans and L/C Credit Extensions shall automatically terminate, the unpaid principal amount of all outstanding Loans
and all interest and other amounts as aforesaid shall automatically become due and payable, and the obligation of the Borrowers to Cash Collateralize the L/C Obligations as aforesaid shall automatically become effective, in each case without further
act of the Lender. 
 8.03 Application of Funds. 

After the exercise of remedies provided for in Section 8.02 (or after the Loans have automatically become immediately due and payable and
the L/C Obligations have automatically been required to be Cash Collateralized as set forth in the proviso to Section 8.02) or if at any time insufficient funds are received by and available to the Lender to pay fully all Secured Obligations
then due hereunder, any 

  
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amounts received on account of the Secured Obligations shall, subject to the provisions of Section 2.12, be applied by the Lender in its sole discretion. Excluded Swap Obligations with
respect to any Loan Party shall not be paid with amounts received from such Loan Party or its assets. 
 ARTICLE IX 

CONTINUING GUARANTY 
 9.01
Guaranty. 
 (a) Domestic Guaranty. Each Domestic Guarantor hereby absolutely and unconditionally, jointly and severally
guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all
times thereafter, of any and all of the Secured Obligations (for the avoidance of doubt, specifically including without limitation all U.S. Obligations, all Foreign Obligations and all other Foreign Subsidiary Secured Obligations), whether for
principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of either of the Borrowers to the Secured Parties, arising hereunder or under any other Loan Document, any Foreign Obligation Loan Document, any Secured Cash
Management Agreement or any Secured Hedge Agreement (including all renewals, extensions, amendments, refinancings and other modifications thereof and all costs, attorneys’ fees and expenses incurred by the Secured Parties in connection with the
collection or enforcement thereof) (for each Domestic Guarantor, subject to the proviso in this sentence, its “Domestic Guaranteed Obligations”); provided that (a) the Domestic Guaranteed Obligations of a Domestic
Guarantor shall exclude any Excluded Swap Obligations with respect to such Domestic Guarantor and (b) the liability of each Domestic Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the
largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law or other applicable Law. 

(b) Foreign Subsidiary Guaranty. Each Foreign Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as
primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times
thereafter, of any and all of the Foreign Subsidiary Secured Obligations, whether for principal, interest, premiums, fees, indemnities, damages, costs, expenses or otherwise, of the Danish Borrower or any other Foreign Subsidiary to the Secured
Parties, arising hereunder or under any other Loan Document, any Foreign Obligation Loan Document, any Secured Cash Management Agreement or any Secured Hedge Agreement (including all renewals, extensions, amendments, refinancings and other
modifications thereof and all costs, attorneys’ fees and expenses incurred by the Secured Parties in connection with the collection or enforcement thereof) (for each Foreign Guarantor, subject to the proviso in this sentence, its
“Foreign Guaranteed Obligations”); provided that (a) the Foreign Guaranteed Obligations of a Foreign Guarantor shall exclude (i) any Excluded Swap Obligations with respect to such Foreign Guarantor and (ii) any
U.S. Obligations, any Domestic Guaranteed Obligations and all other obligations owing by the Company or any Domestic Subsidiary under the Loan Documents, any Secured Cash Management Agreements or any Secured Hedge Agreements or otherwise, and
(b) the liability of each Foreign Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under
Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law or other applicable Law, in each case to the extent applicable. Notwithstanding anything set out to the contrary in this Agreement,
the obligations of each Danish Guarantor under this Agreement and the other 

  
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Loan Documents to which it is a party shall be limited if and to the extent required to comply with Danish statutory provisions including, without limitation, Section 206(1) (as modified by
Section 206(2)) of Consolidated Act No. 1089 of 14 September 2015 on public and private limited liability companies as amended and supplemented from time to time (the Danish Companies Act) and (ii) Section 210(1) (as
modified by Section 210(2) and Sections 211 and 212 of the Danish Companies Act). 
 (c) General. The Lender’s books and
records showing the amount of the Obligations, the U.S. Obligations, the Foreign Obligations, the Domestic Guaranteed Obligations, the Foreign Guaranteed Obligations, the Secured Obligations and the Foreign Subsidiary Secured Obligations shall be
admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount thereof. This Guaranty shall not be affected by the genuineness, validity, regularity or
enforceability of the Secured Obligations or the Foreign Subsidiary Secured Obligations or any instrument or agreement evidencing any Secured Obligations or the Foreign Subsidiary Secured Obligations, or by the existence, validity, enforceability,
perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations or the Foreign Subsidiary Secured Obligations which might otherwise constitute a defense to the obligations of the
Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing. 

9.02 Rights of Lender. 
 Each
Guarantor consents and agrees that the Secured Parties may, at any time and from time to time, without notice or demand, and without affecting the enforceability or continuing effectiveness hereof: (a) amend, extend, renew, compromise,
discharge, accelerate or otherwise change the time for payment or the terms of the Secured Obligations or the Foreign Subsidiary Secured Obligations or any part thereof; (b) take, hold, exchange, enforce, waive, release, fail to perfect, sell,
or otherwise dispose of any security for the payment of this Guaranty or any Secured Obligations or the Foreign Subsidiary Secured Obligations; (c) apply such security and direct the order or manner of sale thereof as the Lender in its sole
discretion may determine; and (d) release or substitute one or more of any endorsers or other guarantors of any of the Secured Obligations or the Foreign Subsidiary Secured Obligations. Without limiting the generality of the foregoing, each
Guarantor consents to the taking of, or failure to take, any action which might in any manner or to any extent vary the risks of such Guarantor under this Guaranty or which, but for this provision, might operate as a discharge of such Guarantor.

 9.03 Certain Waivers. 
 Each
Guarantor waives (a) any defense arising by reason of any disability or other defense of either Borrower or any other guarantor, or the cessation from any cause whatsoever (including any act or omission of any Secured Party) of the liability of
either Borrower or any other Loan Party; (b) any defense based on any claim that such Guarantor’s obligations exceed or are more burdensome than those of either Borrower or any other Loan Party; (c) the benefit of any statute of
limitations affecting any Guarantor’s liability hereunder; (d) any right to proceed against either Borrower or any other Loan Party, proceed against or exhaust any security for the Secured Obligations or the Foreign Subsidiary Secured
Obligations, or pursue any other remedy in the power of any Secured Party whatsoever; (e) any benefit of and any right to participate in any security now or hereafter held by any Secured Party; and (f) to the fullest extent permitted by
law, any and all other defenses or benefits that may be derived from or afforded by applicable Law limiting the liability of or exonerating guarantors or sureties. Each Guarantor expressly waives all setoffs and counterclaims and all presentments,
demands for payment or performance, notices of nonpayment or nonperformance, protests, notices of protest, notices of dishonor and all other notices or demands of any kind or nature whatsoever with respect to the Secured Obligations or the Foreign
Subsidiary Secured Obligations, and all notices of acceptance of this Guaranty or of the existence, creation or incurrence of new or additional Secured Obligations or Foreign Subsidiary Secured Obligations. 

  
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 9.04 Obligations Independent. 

The obligations of each Guarantor hereunder are those of primary obligor, and not merely as surety, and are independent of the Secured
Obligations and the Foreign Subsidiary Secured Obligations and the obligations of any other guarantor, and a separate action may be brought against each Guarantor to enforce this Guaranty whether or not either Borrower or any other Person is joined
as a party. 
 9.05 Subrogation. 

No Guarantor shall exercise any right of subrogation, contribution, indemnity, reimbursement or similar rights with respect to any payments it
makes under this Guaranty until all of the Secured Obligations and any amounts payable under this Guaranty have been indefeasibly paid and performed in full and the Commitments and the Facilities are terminated. If any amounts are paid to a
Guarantor in violation of the foregoing limitation, then such amounts shall be held in trust for the benefit of the Secured Parties and shall forthwith be paid to the Secured Parties to reduce the amount of the Secured Obligations, whether matured
or unmatured. 
 9.06 Termination; Reinstatement. 

This Guaranty is a continuing and irrevocable guaranty of the Domestic Guarantors with respect to all Secured Obligations and other Domestic
Guaranteed Obligations and of the Foreign Guarantors with respect to all Foreign Subsidiary Secured Obligations and other Foreign Guaranteed Obligations now or hereafter existing and shall remain in full force and effect until the Facility
Termination Date. Notwithstanding the foregoing, this Guaranty shall continue in full force and effect or be revived, as the case may be, if any payment by or on behalf of the Borrowers or a Guarantor is made, or any of the Secured Parties exercises
its right of setoff, in respect of any of the Secured Obligations and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant
to any settlement entered into by any of the Secured Parties in their discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Laws or otherwise, all as if such payment had not
been made or such setoff had not occurred and whether or not the Secured Parties are in possession of or have released this Guaranty and regardless of any prior revocation, rescission, termination or reduction. The obligations of each Guarantor
under this paragraph shall survive termination of this Guaranty. 
 9.07 Stay of Acceleration. 

If acceleration of the time for payment of any of the Secured Obligations or the Foreign Subsidiary Secured Obligations is stayed, in
connection with any case commenced by or against a Guarantor or either of the Borrowers under any Debtor Relief Laws, or otherwise, all such amounts shall nonetheless be payable by each Foreign Guarantor with respect to Foreign Guaranteed
Obligations, jointly and severally, and by each Domestic Guarantor with respect to Domestic Guaranteed Obligations, jointly and severally, immediately upon demand by the Secured Parties. 

9.08 Condition of Borrower. 
 Each
Guarantor acknowledges and agrees that it has the sole responsibility for, and has adequate means of, obtaining from the applicable Borrower or Borrowers and any other guarantor such information concerning the financial condition, business and
operations of each of the Borrowers and any such other 

  
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guarantor as such Guarantor requires, and that none of the Secured Parties has any duty, and such Guarantor is not relying on the Secured Parties at any time, to disclose to it any information
relating to the business, operations or financial condition of either of the Borrowers or any other guarantor (each Guarantor waiving any duty on the part of the Secured Parties to disclose such information and any defense relating to the failure to
provide the same). 
 9.09 Appointment of Borrower. 

Each of the Loan Parties hereby appoints the U.S. Borrower to act as its agent for all purposes of this Agreement, the other Loan Documents
and all other documents and electronic platforms entered into in connection herewith and agrees that (a) the U.S. Borrower may execute such documents and provided such authorizations on behalf of such Loan Parties as the U.S. Borrower deems
appropriate in its sole discretion and each Loan Party shall be obligated by all of the terms of any such document and/or authorization executed on its behalf, (b) any notice or communication delivered by the Lender to the Borrowers shall be
deemed delivered to each Loan Party and (c) the Lender may accept, and be permitted to rely on, any document, authorization, instrument or agreement executed by the U.S. Borrower on behalf of each of the Loan Parties. 

9.10 Right of Contribution. 
 The
Guarantors agree among themselves that, in connection with payments made hereunder, each Guarantor shall have contribution rights against the other Guarantors as permitted under applicable Law. 

9.11 Keepwell.  
 (a) Each
U.S. Loan Party that is a Qualified ECP Guarantor at the time the Guaranty or the grant of a Lien under the Loan Documents, in each case, by any Specified 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 Specified Loan Party with respect to such Swap Obligation as may be needed by such Specified Loan Party from time to time to honor all
of its obligations under the 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 Qualified ECP Guarantor’s obligations and
undertakings under this Article IX voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section shall
remain in full force and effect until the Secured Obligations have been indefeasibly paid and performed in full. Each U.S. Loan Party intends this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations
of, and a “keepwell, support, or other agreement” for the benefit of, each Specified Loan Party for all purposes of the Commodity Exchange Act. 

(b) Each Foreign Obligor that is a Qualified ECP Guarantor at the time the Guaranty or the grant of a Lien under the Loan Documents, in each
case, by any Specified Loan Party that is a Foreign Subsidiary 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
such Specified Loan Party with respect to such Swap Obligation as may be needed by such Specified Loan Party from time to time to honor all of its obligations under the 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 Qualified ECP Guarantor’s obligations and undertakings under this Article IX voidable under applicable law relating to fraudulent conveyance or fraudulent
transfer, and not for any greater amount). The obligations and undertakings of each Qualified ECP Guarantor under this Section shall remain in full force and effect until the Foreign Subsidiary Secured Obligations have been

  
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indefeasibly paid and performed in full. Each Foreign Obligor intends this Section to constitute, and this Section shall be deemed to constitute, a guarantee of the obligations of, and a
“keepwell, support, or other agreement” for the benefit of, each Specified Loan Party that is a Foreign Subsidiary for all purposes of the Commodity Exchange Act. 

ARTICLE X 

MISCELLANEOUS 
 10.01 Amendments,
Etc. 
 No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the
Borrowers or any other Loan Party therefrom, shall be effective unless in writing signed by the Lender and the Borrowers or the applicable Loan Party, as the case may be, and each such waiver or consent shall be effective only in the specific
instance and for the specific purpose for which given. 
 10.02 Notices; Effectiveness; Electronic Communications. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by fax transmission
or e-mail transmission as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, to the address, fax number, e-mail address or telephone number
specified for the Borrowers or any other Loan Party or the Lender on Schedule 1.01(a). 
 Notices and other communications sent by hand or
overnight courier service, or mailed by certified or registered mail, shall be deemed to have been given when received; notices and other communications sent by fax transmission shall be deemed to have been given when sent (except that, if not given
during normal business hours for the recipient, shall be deemed to have been given at the opening of business on the next Business Day for the recipient). Notices and other communications delivered through electronic communications to the extent
provided in subsection (b) below shall be effective as provided in such subsection (b). 
 (b) Electronic Communications. Notices
and other communications to the Lender hereunder may be delivered or furnished by electronic communication (including e-mail, FPML messaging and Internet or intranet websites) pursuant to procedures approved by the Lender. The Lender or the
Borrowers may each, in its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it, provided that approval of such procedures may be limited to particular
notices or communications. 
 Unless the Lender otherwise prescribes, (i) notices and other communications sent to an e-mail address shall be deemed
received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function, as available, return e-mail or other written acknowledgement), and (ii) notices and other
communications posted to an Internet or intranet website shall be deemed received by the intended recipient upon the sender’s receipt of an acknowledgement by the intended recipient (such as by the “return receipt requested” function,
as available, return email address or other written acknowledgement) indicating that such notice or communication is available and identifying the website address therefor; provided that, for both clauses (i) and (ii), if such
notice, email or other communication is not sent during the normal business hours of the recipient, such notice, email or communication shall be deemed to have been sent at the opening of business on the next Business Day for the recipient. 

  
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 (c) Change of Address, Etc. Each of the Borrowers and the Lender may change its address,
fax number or telephone number or e-mail address for notices and other communications hereunder by notice to the other parties hereto. 
 (d)
Reliance by Lender. The Lender shall be entitled to rely and act upon any notices (including, without limitation, telephonic or electronic notices, Loan Notices, Letter of Credit Applications and Notice of Loan Prepayment) purportedly given
by or on behalf of any Loan Party even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of notice specified herein, or (ii) the terms thereof, as understood
by the recipient, varied from any confirmation thereof. The Loan Parties shall indemnify the Lender and the Related Parties of each of them from all losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice
purportedly given by or on behalf of a Loan Party. All telephonic notices to and other telephonic communications with the Lender may be recorded by the Lender, and each of the parties hereto hereby consents to such recording. 

10.03 No Waiver; Cumulative Remedies; Enforcement. 

No failure by the Lender to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder or under
any other Loan Document shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder or under any other Loan Document preclude any other or further exercise thereof or the exercise of
any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided, and provided under each other Loan Document, are cumulative and not exclusive of any rights, remedies, powers and privileges provided by law.

 10.04 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Loan Parties shall pay (i) all reasonable out-of-pocket expenses incurred by the Lender and its
Affiliates (including the reasonable fees, charges and disbursements of counsel for the Lender), in connection with the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable out-of-pocket expenses incurred by the Lender in connection with
the issuance, amendment, renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all out-of-pocket expenses incurred by the Lender (including the fees, charges and disbursements of any counsel for the
Lender), and shall pay all fees and time charges for attorneys who may be employees of the Lender, in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its
rights under this Section, or (B) in connection with Loans made or Letters of Credit issued hereunder, including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans or Letters of
Credit. Notwithstanding the foregoing, the Foreign Obligors shall only be responsible for payment of any of the foregoing costs and expenses with respect to and attributable to the Foreign Obligations. 

(b) Indemnification by the Loan Parties. The U.S. Loan Parties, jointly and severally with respect to all Secured Obligations and all
Loan Parties and their Subsidiaries, and the Foreign Obligors, solely with respect to all Foreign Subsidiary Secured Obligations, shall indemnify the Lender and each 

  
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Related Party (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses (including the fees, charges and disbursements of any counsel for any Indemnitee), and shall indemnify and hold harmless each Indemnitee from all fees and time charges and disbursements for attorneys who may be employees of any Indemnitee,
incurred by any Indemnitee or asserted against any Indemnitee by any Person (including the Borrowers or any other Loan Party) arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement, any other Loan
Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder or the consummation of the transactions contemplated hereby or thereby, or the
administration of this Agreement and the other Loan Documents (including in respect of any matters addressed in Section 3.01), (ii) any Loan or Letter of Credit or the use or proposed use of the proceeds therefrom (including any refusal by
the Lender to honor a demand for payment under a Letter of Credit if the documents presented in connection with such demand do not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence or release of
Hazardous Materials on or from any property owned or operated by a Loan Party or any of its Subsidiaries, or any Environmental Liability related in any way to a Loan Party or any of its Subsidiaries, or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or by the Borrowers or any other Loan Party or any of the Borrowers’ or such Loan
Party’s directors, shareholders or creditors, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims, damages,
liabilities or related expenses (x) are determined by a court of competent jurisdiction by final and nonappealable judgment to have resulted from the gross negligence or willful misconduct of such Indemnitee or (y) result from a claim
brought by the Borrowers or any other Loan Party against an Indemnitee for breach in bad faith of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrowers or such Loan Party has obtained a final and
nonappealable judgment in its favor on such claim as determined by a court of competent jurisdiction. 
 (c) Waiver of Consequential
Damages, Etc. To the fullest extent permitted by applicable Law, no Loan Party shall assert, and each Loan Party hereby waives, and acknowledges that no other Person shall have, any claim against any Indemnitee, on any theory of liability, for
special, indirect, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the
transactions contemplated hereby or thereby, any Loan or Letter of Credit or the use of the proceeds thereof. No Indemnitee referred to in subsection (b) above shall be liable for any damages arising from the use by unintended recipients of any
information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this Agreement or the other Loan Documents or the
transactions contemplated hereby or thereby. 
 (d) Payments. All amounts due under this Section shall be payable not later than ten
(10) Business Days after demand therefor. 
 (e) Survival. The agreements in this Section and the indemnity provisions of
Section 10.02(d) shall survive the termination of the Commitments and the repayment, satisfaction or discharge of all the other Secured Obligations. 

10.05 Payments Set Aside. 
 To the
extent that any payment by or on behalf of the Borrowers is made to the Lender, or the Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent
or preferential, set aside or required (including 

  
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pursuant to any settlement entered into by the Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or
otherwise, then to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred. 

10.06 Successors and Assigns. 

This Agreement is binding on each Loan Party’s and the Lender’s successors and assignees. Each Loan Party agrees that it may not
assign this Agreement without the Lender’s prior consent. Subject to the conditions set forth herein, the Lender may sell participations in or assign this loan, and may exchange information about the Loan Parties (including, without limitation,
any information regarding any hazardous substances) with actual or potential participants or assignees, provided, that, the prior written consent of the Company shall be required unless (i) an Event of Default has occurred and is
continuing at the time of such assignment or participation or (ii) such assignment or participation is to an Affiliate of the Lender or an Approved Fund, provided further that, the Company shall be deemed to have consented to any such
assignment or participation unless it shall object thereto by written notice to the Lender within five (5) Business Days after having received notice thereof. If a participation is sold or the loan is assigned, the purchaser will have the right
of set-off against the Borrowers (subject to the terms of the Loan Documents). 
 10.07 Treatment of Certain Information; Confidentiality.

 (a) Treatment of Certain Information. The Lender agrees to maintain the confidentiality of the Information (as defined below),
except that Information may be disclosed (i) to its Affiliates, its auditors and to its Related Parties (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential), (ii) to the extent required or requested by any regulatory authority purporting to have jurisdiction over such Person or its Related Parties (including any self-regulatory authority, such as
the National Association of Insurance Commissioners), (iii) to the extent required by applicable Laws or regulations or by any subpoena or similar legal process, (iv) to any other party hereto, (v) in connection with the exercise of
any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (vi) subject to an agreement containing provisions
substantially the same as those of this Section, to (A) any assignee of or participant in, or any prospective assignee of or participant in, any of its rights and obligations under this Agreement or (B) any actual or prospective party (or
its Related Parties) to any swap, derivative or other transaction under which payments are to be made by reference to any Loan Party and its obligations, this Agreement or payments hereunder, (vii) on a confidential basis to any rating agency
in connection with rating any Loan Party or its Subsidiaries or the credit facilities provided hereunder, (viii) with the consent of the Borrowers or to the extent such Information (1) becomes publicly available other than as a result of a
breach of this Section or (2) becomes available to the Lender or any of its Affiliates on a nonconfidential basis from a source other than the Borrowers. For purposes of this Section, “Information” means all non-public information
received from any Loan Party or any Subsidiary relating to any Loan Party or any Subsidiary or any of their respective businesses, other than any such information that is available to the Lender on a nonconfidential basis prior to disclosure by any
Loan Party or any Subsidiary. Any Person required to maintain the confidentiality of Information as provided in this Section shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord to its own confidential information. In addition, the Lender may disclose the existence of this Agreement and information about this Agreement to market data collectors,
similar service providers to the lending industry and service providers the Lender in connection with the administration of this Agreement, the other Loan Documents and the Commitments. 

  
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 (b) Press Releases. The Loan Parties and their Affiliates agree that they will not in the
future issue any press releases or other public disclosure using the name of the Lender or its Affiliates or referring to this Agreement or any of the Loan Documents without the prior written consent of the Lender, unless (and only to the extent
that) the Loan Parties or such Affiliate is required to do so under law and then, in any event the Loan Parties or such Affiliate will consult with such Person before issuing any such press release or other similar public disclosure. 

(c) Customary Advertising Material. The Loan Parties consent to the publication by the Lender of customary advertising material relating
to the transactions contemplated hereby using the name, product photographs, logo or trademark of the Loan Parties. 
 10.08 Right of Setoff.

 (a) If an Event of Default shall have occurred and be continuing, the Lender and each of its 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) at any time held and other obligations (in
whatever currency) at any time owing by the Lender or any such Affiliate to or for the credit or the account of the U.S. Borrower or any other U.S. Loan Party against any and all of the obligations of the Borrowers or any other Loan Party now or
hereafter existing under this Agreement or any other Loan Document to the Lender or its Affiliates, irrespective of whether or not the Lender or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such
obligations of the Borrowers or such Loan Party may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or Affiliate of the Lender different from the branch, office or Affiliate holding such deposit or obligated on such
indebtedness. The rights of the Lender and its Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that the Lender or its Affiliates may have. The Lender agrees to notify the U.S. Borrower
promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

(b) If an Event of Default shall have occurred and be continuing, the Lender and each of its 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) at any time held and other obligations (in whatever
currency) at any time owing by the Lender or any such Affiliate to or for the credit or the account of the Danish Borrower or any other Foreign Loan Party against any and all of the obligations of the Danish Borrower or such Foreign Obligor now or
hereafter existing under this Agreement or any other Loan Document to the Lender or its Affiliates, irrespective of whether or not the Lender or Affiliate shall have made any demand under this Agreement or any other Loan Document and although such
obligations of the Danish Borrower or such Foreign Obligor may be contingent or unmatured, secured or unsecured, or are owed to a branch, office or Affiliate of the Lender different from the branch, office or Affiliate holding such deposit or
obligated on such indebtedness. The rights of the Lender and its Affiliates under this Section are in addition to other rights and remedies (including other rights of setoff) that the Lender or its Affiliates may have. The Lender agrees to notify
the Borrowers promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application. 

  
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 10.09 Interest Rate Limitation. 

Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to be paid under the Loan Documents shall
not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Lender shall receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the
principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrowers. In determining whether the interest contracted for, charged, or received by the Lender exceeds the Maximum Rate, such Person may, to the extent permitted by
applicable Law, (a) characterize any payment that is not principal as an expense, fee, or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in
equal or unequal parts the total amount of interest throughout the contemplated term of the Obligations hereunder. 
 10.10 Counterparts; Integration;
Effectiveness. 
 This Agreement and each of the other Loan Documents may be executed in counterparts (and by different parties
hereto in different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees
payable to the Lender, constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written, relating to the subject matter hereof. Except as
provided in Section 4.01, this Agreement shall become effective when it shall have been executed by the Lender and when the Lender shall have received counterparts hereof that, when taken together, bear the signatures of each of the other
parties hereto. Delivery of an executed counterpart of a signature page of this Agreement or any other Loan Document, or any certificate delivered thereunder, by fax transmission or e-mail transmission (e.g. “pdf” or “tif”) shall
be effective as delivery of a manually executed counterpart of this Agreement or such other Loan Document or certificate. Without limiting the foregoing, to the extent a manually executed counterpart is not specifically required to be delivered
under the terms of any Loan Document, upon the request of any party, such fax transmission or e-mail transmission shall be promptly followed by such manually executed counterpart. 

10.11 Survival of Representations and Warranties. 

All representations and warranties made hereunder and in any other Loan Document or other document delivered pursuant hereto or thereto or in
connection herewith or therewith shall survive the execution and delivery hereof and thereof. Such representations and warranties have been or will be relied upon by the Lender, regardless of any investigation made by the Lender or on its behalf and
notwithstanding that the Lender may have had notice or knowledge of any Default at the time of any Credit Extension, and shall continue in full force until the Facility Termination Date. 

10.12 Severability. 
 If any
provision of this Agreement or the other Loan Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be
affected or impaired thereby and (b) the parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the
illegal, invalid or unenforceable provisions. The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

  
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 10.13 Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH THEREIN)
AND ANY CLAIMS, CONTROVERSY, DISPUTE OR CAUSE OF ACTION (WHETHER IN CONTRACT OR TORT OR OTHERWISE) BASED UPON, ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT (EXCEPT, AS TO ANY OTHER LOAN DOCUMENT, AS EXPRESSLY SET FORTH
THEREIN) AND THE TRANSACTIONS CONTEMPLATED HEREBY AND THEREBY SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) SUBMISSION TO JURISDICTION. EACH OF THE BORROWERS AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY AGREES THAT IT WILL NOT
COMMENCE ANY ACTION, LITIGATION OR PROCEEDING OF ANY KIND OR DESCRIPTION, WHETHER IN LAW OR EQUITY, WHETHER IN CONTRACT OR IN TORT OR OTHERWISE, AGAINST THE LENDER OR ANY RELATED PARTY IN ANY WAY RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT
OR THE TRANSACTIONS RELATING HERETO OR THERETO, IN ANY FORUM OTHER THAN THE COURTS 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, AND EACH OF THE PARTIES HERETO, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IRREVOCABLY AND UNCONDITIONALLY SUBMITS TO THE JURISDICTION OF SUCH COURTS AND AGREES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, THAT ALL CLAIMS IN
RESPECT OF ANY SUCH ACTION, LITIGATION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, 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 IN ANY OTHER LOAN DOCUMENT SHALL AFFECT ANY RIGHT
THAT THE LENDER MAY OTHERWISE HAVE TO BRING ANY ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT AGAINST EITHER BORROWER OR ANY OTHER LOAN PARTY OR ITS PROPERTIES IN THE COURTS OF ANY JURISDICTION. 

(c) WAIVER OF VENUE. EACH OF THE BORROWERS AND EACH OTHER LOAN PARTY 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 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. EACH OF THE BORROWERS AND EACH OTHER LOAN PARTY IRREVOCABLY AND UNCONDITIONALLY 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) SERVICE OF PROCESS. EACH PARTY HERETO (OTHER THAN THE DANISH BORROWER AND ANY FOREIGN OBLIGOR) IRREVOCABLY CONSENTS TO
SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

  
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 (e) SERVICE OF PROCESS FOR DANISH BORROWER AND FOREIGN OBLIGORS. WITHOUT PREJUDICE TO ANY
OTHER MODE OF SERVICE ALLOWED UNDER ANY RELEVANT LAW, THE DANISH BORROWER AND ANY FOREIGN OBLIGOR: (i) IRREVOCABLY APPOINTS THE U.S. BORROWER AS ITS AGENT FOR SERVICE OF PROCESS IN RELATION TO ANY PROCEEDINGS BEFORE THE COURTS OF THE STATE OF
NEW YORK IN CONNECTION WITH ANY LOAN DOCUMENT, WITH SUCH SERVICE OR PROCESS ON SUCH AGENT TO BE IN THE MANNER PROVIDED FOR NOTICES IN SECTION 10.02, AND (ii) AGREES THAT FAILURE BY A PROCESS AGENT TO NOTIFY THE DANISH BORROWER AND ANY
FOREIGN OBLIGOR OF THE PROCESS WILL NOT INVALIDATE THE PROCEEDINGS CONCERNED. EACH OF THE U.S. BORROWER, THE DANISH BORROWER AND ANY FOREIGN OBLIGOR EXPRESSLY AGREES AND CONSENTS TO THE PROVISIONS OF THIS SECTION 10.13(e). 

10.14 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 OR 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 PERSON HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PERSON 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. 
 10.15 Subordination. 

Each Loan Party (a “Subordinating Loan Party”) hereby subordinates the payment of all obligations and indebtedness of any
other Loan Party owing to it, whether now existing or hereafter arising, including but not limited to any obligation of any such other Loan Party to the Subordinating Loan Party as subrogee of the Secured Parties or resulting from such Subordinating
Loan Party’s performance under this Guaranty, to the indefeasible payment in full in cash of all Secured Obligations. If the Secured Parties so request, any such obligation or indebtedness of any such other Loan Party to the Subordinating Loan
Party shall be enforced and performance received by the Subordinating Loan Party as trustee for the Secured Parties and the proceeds thereof shall be paid over to the Secured Parties on account of the Secured Obligations, but without reducing or
affecting in any manner the liability of the Subordinating Loan Party under this Agreement. Without limitation of the foregoing, so long as no Default has occurred and is continuing, the Loan Parties may make and receive payments with respect to
Intercompany Debt as otherwise permitted hereunder; provided, that in the event that any Loan Party receives any payment of any Intercompany Debt at a time when such payment is prohibited by this Section, such payment shall be held by such
Loan Party, in trust for the benefit of, and shall be paid forthwith over and delivered, upon written request, to the Lender. 
 10.16 No Advisory or
Fiduciary Responsibility. 
 In connection with all aspects of each transaction contemplated hereby (including in connection with
any amendment, waiver or other modification hereof or of any other Loan Document), the Borrowers and each other Loan Party acknowledges and agrees, and acknowledges its Affiliates’ 

  
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understanding, that: (a) (i) the services regarding this Agreement provided by the Lender and any Affiliate thereof are arm’s-length commercial transactions between the Borrowers, each
other Loan Party and their respective Affiliates, on the one hand, and the Lender and its Affiliates, on the other hand, (ii) each of the Borrowers and the other Loan Parties has consulted its own legal, accounting, regulatory and tax advisors
to the extent it has deemed appropriate, and (iii) the Borrowers and each other Loan Party is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other Loan
Documents; (b) (i) the Lender and its Affiliates each is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or
fiduciary, for Borrower, any other Loan Party or any of their respective Affiliates, or any other Person and (ii) neither the Lender nor any of its Affiliates has any obligation to the Borrowers, any other Loan Party or any of their respective
Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other Loan Documents; and (c) the Lender and its Affiliates may be engaged in a broad range of transactions that
involve interests that differ from those of the Borrowers, the other Loan Parties and their respective Affiliates, and neither the Lender nor any of its Affiliates has any obligation to disclose any of such interests to the Borrowers, any other Loan
Party or any of their respective Affiliates. To the fullest extent permitted by law, each of the Borrowers and each other Loan Party hereby waives and releases any claims that it may have against the Lender or any of its Affiliates with respect to
any breach or alleged breach of agency or fiduciary duty in connection with any aspect of any transactions contemplated hereby. 
 10.17 Electronic
Execution. 
 The words “delivery,” “execute,” “execution,” “signed,” “signature,”
and words of like import in any Loan Document or any other document executed in connection herewith shall be deemed to include electronic signatures, the electronic matching of assignment terms and contract formations on electronic platforms
approved by the Lender, or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature, physical delivery thereof or the use of a paper-based recordkeeping
system, as the case may be, to the extent and as provided for in any applicable Law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic Signatures and Records Act, or any other similar
state laws based on the Uniform Electronic Transactions Act; provided that notwithstanding anything contained herein to the contrary, the Lender is under no obligation to agree to accept electronic signatures in any form or in any format unless
expressly agreed to by the Lender pursuant to procedures approved by it; provided further without limiting the foregoing, upon the request of the Lender, any electronic signature shall be promptly followed by such manually executed
counterpart. 
 10.18 USA PATRIOT Act Notice. 

The Lender hereby notifies the Borrowers and the other Loan Parties that pursuant to the requirements of the USA PATRIOT Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2001)) (the “Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and
other information that will allow the Lender to identify each Loan Party in accordance with the Act. The Borrowers and the Loan Parties agree to, promptly following a request by the Lender, provide all such other documentation and information that
the Lender requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules and regulations, including the Act. 

  
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 10.19 ENTIRE AGREEMENT. 

THIS AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT AMONG THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF
PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS AMONG THE PARTIES. 
 10.20 Judgment
Currency. 
 If, for the purposes of obtaining judgment in any court, it is necessary to convert a sum due hereunder or any other
Loan Document in one currency into another currency, the rate of exchange used shall be that at which in accordance with normal banking procedures the Lender could purchase the first currency with such other currency on the Business Day preceding
that on which final judgment is given. The obligation of each Borrower in respect of any such sum due from it to the Lender hereunder or under the other Loan Documents shall, notwithstanding any judgment in a currency (the “Judgment
Currency”) other than that in which such sum is denominated in accordance with the applicable provisions of this Agreement (the “Agreement Currency”), be discharged only to the extent that on the Business Day following
receipt by the Lender of any sum adjudged to be so due in the Judgment Currency, the Lender may in accordance with normal banking procedures purchase the Agreement Currency with the Judgment Currency. If the amount of the Agreement Currency so
purchased is less than the sum originally due to the Lender from any Borrower in the Agreement Currency, such Borrower agrees, as a separate obligation and notwithstanding any such judgment, to indemnify the Lender against such loss. If the amount
of the Agreement Currency so purchased is greater than the sum originally due to the Lender in such currency, the Lender agrees to return the amount of any excess to such Borrower (or to any other Person who may be entitled thereto under applicable
law) 
 10.21 Acknowledgement and Consent to Bail-In of EEA Financial Institutions. 

(a) Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any of the
parties thereto, each of the Borrower and the Lender acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers
of an EEA Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (b) the application of any
Write-Down and Conversion Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(c) the effects of any Bail-in Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial
Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such
liability under this Agreement or any other Loan Document; or 

  
 104 

 (iii) the variation of the terms of such liability in connection with the
exercise of the write-down and conversion powers of any EEA Resolution Authority. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK.]

  
 105 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as
of the date first above written. 
  

									
	U.S. BORROWER	 		 		 	
	AND DOMESTIC GUARANTOR:	 		 	ASTRONOVA, INC.
				
		 		 		 	By:                                   
                                         
                                       
		 		 		 	Name:
		 		 		 	Title:
			
	DANISH BORROWER:	 		 	ANI APS
				
		 		 		 	By:                                   
                                         
                                       
		 		 		 	Name:
		 		 		 	Title:

									
	FOREIGN GUARANTOR:	 		 	TROJANLABEL APS
				
		 		 		 	By:                                   
                                         
                                       
		 		 		 	Name:
		 		 		 	Title:

 
			
	BANK OF AMERICA, N.A.,
	as Lender
	
	By:                                   
                                         
                   
	Name:
	Title:

 EXHIBIT C 

[Form of] 
 Loan Notice

  

			
	TO:	  	Bank of America, N.A., as lender (the “Lender”)
		
	RE:	  	Credit Agreement, dated as of February 28, 2017, by and among ASTRONOVA, INC., a Rhode Island corporation (the “U.S. Borrower” or the “Company”), ANI APS, a Danish private limited liability
company (the “Danish Borrower” and together with the U.S. Borrower, the “Borrowers” and each a “Borrower”), the Guarantors, and the Lender (as amended, modified, extended, restated, replaced, or
supplemented from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement)
		
	DATE:	  	[Date]

  
  

The undersigned hereby requests (select one): 
  

									
		 	 ☐       A Borrowing of [a Revolving
Loan][the U.S. Term Loan][the Danish Term Loan]

		
		 	 ☐       A [conversion] or [continuation]
of [a Revolving] [the U.S. Term Loan][the Danish Term Loan]

		
		 	  
 ---

 

			
		 	1.	  	On                              (the “Credit Extension
Date”).
					
		 		  		  		  	
			
		 	2.	  	In the amount of [$]                             [in the following currency:
                .]
					
		 		  		  		  	
					
		 	3.	  	Comprised of:	  	☐ Base Rate Loans	  	
					
		 		  		  	☐ Eurocurrency Rate Loans	  	
			
		 	4.	  	For Eurocurrency Rate Loans: with an Interest Period of                  months.

 [The Revolving Borrowing requested herein complies with the proviso to the first sentence of
Section 2.01(b) of the Credit Agreement.]1 
 [The [U.S. Borrower][Danish
Borrower] hereby represents and warrants that the conditions specified in Section 4.02 of the Credit Agreement shall be satisfied on and as of the date of the Credit Extension Date.]2 

Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic mail transmission (e.g.
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this notice. 
  

 

	1 	Include this sentence in the case of a Revolving Borrowing. 

	2 	To be deleted if such Loan Notice is solely with respect to a conversion or continuation of a Loan. 

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

 
			
	[ASTRONOVA, INC.][ANI APS],
	a [Rhode Island corporation][Danish private limited liability company]
	
	By:                                   
                                         
                   
	Name:                                   
                                         
              
	Title:                                   
                                         
                

 EXHIBIT D 

[Form of] 
 Permitted
Acquisition Certificate 
  

			
	TO:	  	Bank of America, N.A., as lender (the “Lender”)
		
	RE:	  	Credit Agreement, dated as of February 28, 2017, by and among ASTRONOVA, INC., a Rhode Island corporation (the “U.S. Borrower” or the “Company”), ANI APS, a Danish private limited liability
company (the “Danish Borrower” and together with the U.S. Borrower, the “Borrowers” and each a “Borrower”), the Guarantors, and the Lender (as amended, modified, extended, restated, replaced, or
supplemented from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement)
		
	DATE:	  	[Date]

  
  

[Loan Party] intends to make an Acquisition of [            ] (the
“Target”). The undersigned Responsible Officer of [Loan Party] hereby certifies that: 
 (a) The Acquisition
is an acquisition of a type of business (or assets used in a type of business) permitted to be engaged in by the Company and its Subsidiaries pursuant to the terms of the Credit Agreement. 

(b) No Default exists or would exist after giving effect to the Acquisition. 

(c) After giving effect to the Acquisition on a Pro Forma Basis, the Loan Parties are in compliance with each of the financial
covenants set forth in Section 7.11 of the Credit Agreement as demonstrated on Schedule A attached hereto). 

(d) The Loan Parties have complied with Sections 6.13 and 6.14 of the Credit Agreement, to the extent required to do so
thereby. 
 (e) If the Target is a Person, it is a wholly-owned Subsidiary of a Loan Party. 

(f) Attached hereto as Schedule B is a description of the material terms of the Acquisition (including a
description of the business and the form of consideration). 
 (g) Attached hereto as Schedule C are the audited
financial statements (or, if unavailable, management-prepared financial statements) of the Target for its two most recent fiscal years and for any fiscal quarters ended within the fiscal year to date to the extent required under clause (d) of
the definition of “Permitted Acquisition”. 
 (h) Attached hereto as Schedule D are the consolidated
projected income statements of the Company and its Subsidiaries (giving effect to the Acquisition). 
 (i) The Target has
earnings before interest, taxes, depreciation and amortization for the four fiscal quarter period prior to the acquisition date in an amount greater than $0, with respect to any acquisition where the cash portion of the total consideration to be
paid upon consummation of such acquisition is $5,000,000 or more. 

 (ij)
The Acquisition is not a “hostile” acquisition and has been approved by the board of directors (or equivalent) and/or shareholders (or equivalents) of the applicable Loan Party and the Target. 

(kk) After giving effect to the Acquisition and
any Borrowings made in connection therewith, the aggregate Liquidity plus aggregate principal amount of Revolving Loans available to be borrowed under Section 2.01(b) of the Credit Agreement shall be in the aggregate at least
$5,000,000 provided that of such aggregate amount at least $2,500,000 must be attributable to Liquidity. 

(ll) The Cost of Acquisition paid by the Loan
Parties and their Subsidiaries (i) in connection with any single acquisitionAcquisition shall not exceed $10,000,000 and (ii) for all Acquisitions made during the
term of this Agreement shall not exceed $20,000,000 (excluding, for purposes of clauses (i) and (ii), the Honeywell License Acquisition and the Cost of Acquisition thereof). 

Delivery of an executed counterpart of a signature page of this Certificate by fax transmission or other electronic mail transmission (e.g.
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this Certificate. 
 [REMAINDER OF
PAGE INTENTIONALLY LEFT BLANK] 

 
			
	ASTRONOVA, INC.,
	a Rhode Island corporation
	
	By:                                   
                                         
                   
	Name:                                   
                                         
              
	Title:                                   
                                         
                

 Schedule A 

Financial Covenant Calculations 

[TO BE COMPLETED BY BORROWER] 

 Schedule B 

Description of Material Terms 

[TO BE COMPLETED BY BORROWER] 

 Schedule C 

[Audited Financial Statements] [Management-Prepared Financial Statements] 

[TO BE COMPLETED BY BORROWER] 

 Schedule D 

Consolidated Projected Income Statements 

[TO BE COMPLETED BY BORROWER] 

 EXHIBIT F 

[Form of] 
 Notice of Loan
Prepayment 
 Date: [                ,
            ] 
  

			
	TO:	  	Bank of America, N.A., as lender (the “Lender”)
		
	RE:	  	Credit Agreement, dated as of February 28, 2017, by and among ASTRONOVA, INC., a Rhode Island corporation (the “U.S. Borrower” or the “Company”), ANI APS, a Danish private limited liability
company (the “Danish Borrower” and together with the U.S. Borrower, the “Borrowers” and each a “Borrower”), the Guarantors, and the Lender (as amended, modified, extended, restated, replaced, or
supplemented from time to time, the “Credit Agreement”; capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Credit Agreement)
		
	DATE:	  	[Date]

  
  

The undersigned hereby notifies the Lender that on
                 1 pursuant to the terms of Section 2.05 (Prepayments) of the Credit Agreement, the
Borrowers intend to prepay/repay the following Loans as more specifically set forth below:  
 ☐ Optional prepayment of
[Revolving Loans][U.S. Term LoansLoan][Danish Term
Loan] in the following amount(s): 
 ☐ Base Rate Loans:
$                    2 

☐ Eurocurrency Rate Loans:
$                    3 

In the following Alternative
Currency:                     

Applicable Interest
Period:                     

Delivery of an executed counterpart of a signature page of this notice by fax transmission or other electronic mail transmission (e.g.
“pdf” or “tif”) shall be effective as delivery of a manually executed counterpart of this notice. 
 [REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK] 
  
  

	1 	Specify date of such prepayment. 

	2 	Any prepayment of Base Rate Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof (or if less, the entire principal amount thereof outstanding). 

	3 	Any prepayment of Eurocurrency Rate Loans shall be in a principal amount of $250,000 or a whole multiple of $100,000 in excess thereof (or if less, the entire principal amount thereof outstanding). 

 
			
	[ASTRONOVA, INC.][ANI APS],
	a [Rhode Island corporation][Danish private limited liability company]
	
	By:                                   
                                         
                   
	Name:                                   
                                         
              
	Title:EX-10.1

 Exhibit 10.1 

EXECUTION VERSION 
  

 
  

$3,000,000,000 
 364-DAY CREDIT AND GUARANTEE AGREEMENT 
 Dated as of December 5, 2017 

among 
 PAYPAL HOLDINGS,
INC., 
 as the Borrower, 

The Designated Borrowers from Time to Time Parties Hereto, 

PAYPAL, INC., 
 as the
Subsidiary Guarantor, 
 JPMORGAN CHASE BANK, N.A., 

as Administrative Agent, 
 and 

The Other Lenders Party Hereto 
  

 
  

GOLDMAN SACHS BANK USA and 

MORGAN STANLEY SENIOR FUNDING, INC., 

as Syndication Agents, 
 and 

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD. and 

HSBC BANK USA, N.A., 
 as
Documentation Agents 
  
  

 
 JPMORGAN CHASE BANK, N.A., 

GOLDMAN SACHS BANK USA and 

MORGAN STANLEY SENIOR FUNDING, INC., 

as Joint Lead Arrangers and Joint Book Managers 

 TABLE OF CONTENTS 

 

							
	 Section
	  	Page	 
		
	 ARTICLE I. DEFINITIONS AND ACCOUNTING TERMS
	  	 	1	 
			
	 1.01
	    	 Defined Terms
	  	 	1	 
	 1.02
	    	 Other Interpretive Provisions
	  	 	22	 
	 1.03
	    	 Accounting Terms
	  	 	23	 
	 1.04
	    	 Rounding
	  	 	24	 
	 1.05
	    	 Times of Day
	  	 	24	 
		
	 ARTICLE II. THE COMMITMENTS AND CREDIT EXTENSIONS
	  	 	24	 
			
	 2.01
	    	 Loans
	  	 	24	 
	 2.02
	    	 Borrowings, Conversions and Continuations of Loans
	  	 	24	 
	 2.03
	    	 Prepayments
	  	 	26	 
	 2.04
	    	 Termination or Reduction of Commitments
	  	 	27	 
	 2.05
	    	 Repayment of Loans
	  	 	27	 
	 2.06
	    	 Interest
	  	 	28	 
	 2.07
	    	 Fees
	  	 	28	 
	 2.08
	    	 Computation of Interest and Fees
	  	 	29	 
	 2.09
	    	 Evidence of Debt
	  	 	29	 
	 2.10
	    	 Payments Generally; Administrative Agent’s Clawback
	  	 	30	 
	 2.11
	    	 Sharing of Payments by Lenders
	  	 	32	 
	 2.12
	    	 Defaulting Lenders
	  	 	32	 
	 2.13
	    	 Judgment Currency
	  	 	33	 
		
	 ARTICLE III. TAXES, YIELD PROTECTION AND ILLEGALITY
	  	 	33	 
			
	 3.01
	    	 Taxes
	  	 	33	 
	 3.02
	    	 Illegality
	  	 	36	 
	 3.03
	    	 Inability to Determine Rates
	  	 	36	 
	 3.04
	    	 Increased Costs; Reserves on Eurocurrency Rate Loans
	  	 	38	 
	 3.05
	    	 Compensation for Losses
	  	 	39	 
	 3.06
	    	 Mitigation Obligations; Replacement of Lenders
	  	 	39	 
	 3.07
	    	 Survival
	  	 	40	 
		
	 ARTICLE IV. CONDITIONS PRECEDENT
	  	 	40	 
			
	 4.01
	    	 Conditions of Closing
	  	 	40	 
	 4.02
	    	 Conditions to all Borrowings
	  	 	41	 
	 4.03
	    	 Conditions to Initial Borrowings by each Designated Borrower
	  	 	42	 
		
	 ARTICLE V. REPRESENTATIONS AND WARRANTIES
	  	 	43	 
			
	 5.01
	    	 Existence, Qualification and Power
	  	 	43	 

  
 - i - 

 TABLE OF CONTENTS 

(continued) 
  

							
	 5.02
	    	 Authorization; No Contravention
	  	 	43	 
	 5.03
	    	 Governmental Authorization; Other Consents
	  	 	43	 
	 5.04
	    	 Binding Effect
	  	 	43	 
	 5.05
	    	 Financial Statements; No Material Adverse Effect
	  	 	44	 
	 5.06
	    	 Litigation
	  	 	44	 
	 5.07
	    	 Ownership of Property
	  	 	44	 
	 5.08
	    	 Taxes
	  	 	44	 
	 5.09
	    	 ERISA Compliance; Foreign Plans
	  	 	45	 
	 5.10
	    	 Margin Regulations; Investment Company Act
	  	 	45	 
	 5.11
	    	 Disclosure
	  	 	45	 
	 5.12
	    	 Intellectual Property; Licenses, Etc.
	  	 	45	 
	 5.13
	    	 Anti-Corruption Laws and Sanctions
	  	 	46	 
	 5.14
	    	 EEA Financial Institutions
	  	 	46	 
		
	 ARTICLE VI. AFFIRMATIVE COVENANTS
	  	 	46	 
			
	 6.01
	    	 Financial Statements
	  	 	46	 
	 6.02
	    	 Certificates; Other Information
	  	 	47	 
	 6.03
	    	 Notices
	  	 	47	 
	 6.04
	    	 Payment of Taxes
	  	 	48	 
	 6.05
	    	 Preservation of Existence, Etc.
	  	 	48	 
	 6.06
	    	 Maintenance of Properties
	  	 	48	 
	 6.07
	    	 Maintenance of Insurance
	  	 	48	 
	 6.08
	    	 Compliance with Laws
	  	 	48	 
	 6.09
	    	 Books and Records
	  	 	49	 
	 6.10
	    	 Use of Proceeds
	  	 	49	 
	 6.11
	    	 Ownership of Designated Borrowers and the Subsidiary Guarantor
	  	 	49	 
		
	 ARTICLE VII. NEGATIVE COVENANTS
	  	 	49	 
			
	 7.01
	    	 Liens
	  	 	49	 
	 7.02
	    	 Fundamental Changes
	  	 	52	 
	 7.03
	    	 Use of Proceeds
	  	 	52	 
	 7.04
	    	 Financial Covenants
	  	 	53	 
		
	 ARTICLE VIII. EVENTS OF DEFAULT AND REMEDIES
	  	 	53	 
			
	 8.01
	    	 Events of Default
	  	 	53	 
	 8.02
	    	 Remedies Upon Event of Default
	  	 	55	 
	 8.03
	    	 Application of Funds
	  	 	55	 
		
	 ARTICLE IX. ADMINISTRATIVE AGENT
	  	 	56	 
			
	 9.01
	    	 Appointment and Authority
	  	 	56	 
	 9.02
	    	 Rights as a Lender
	  	 	56	 
	 9.03
	    	 Exculpatory Provisions
	  	 	56	 

  
 - ii - 

 TABLE OF CONTENTS 

(continued) 
  

							
	 9.04
	    	 Reliance by Administrative Agent
	  	 	57	 
	 9.05
	    	 Delegation of Duties
	  	 	57	 
	 9.06
	    	 Resignation of Administrative Agent
	  	 	58	 
	 9.07
	    	 Non-Reliance on Administrative Agent and Other
Lenders
	  	 	58	 
	 9.08
	    	 No Other Duties, Etc.
	  	 	59	 
	 9.09
	    	 ERISA Matters
	  	 	59	 
		
	 ARTICLE X. GUARANTY
	  	 	61	 
			
	 10.01
	    	 Guarantee
	  	 	61	 
	 10.02
	    	 No Subrogation
	  	 	61	 
	 10.03
	    	 Amendments, etc. with respect to the Obligations
	  	 	62	 
	 10.04
	    	 Guarantee Absolute and Unconditional
	  	 	62	 
	 10.05
	    	 Reinstatement
	  	 	63	 
	 10.06
	    	 Payments
	  	 	63	 
	 10.07
	    	 Independent Obligations
	  	 	63	 
	 10.08
	    	 Release
	  	 	64	 
		
	 ARTICLE XI. MISCELLANEOUS
	  	 	64	 
			
	 11.01
	    	 Amendments, Etc.
	  	 	64	 
	 11.02
	    	 Notices; Effectiveness; Electronic Communication
	  	 	66	 
	 11.03
	    	 No Waiver; Cumulative Remedies
	  	 	68	 
	 11.04
	    	 Expenses; Indemnity; Damage Waiver
	  	 	68	 
	 11.05
	    	 Payments Set Aside
	  	 	70	 
	 11.06
	    	 Successors and Assigns
	  	 	70	 
	 11.07
	    	 Treatment of Certain Information; Confidentiality
	  	 	74	 
	 11.08
	    	 Right of Setoff
	  	 	75	 
	 11.09
	    	 Interest Rate Limitation
	  	 	75	 
	 11.10
	    	 Counterparts; Integration; Effectiveness
	  	 	75	 
	 11.11
	    	 Survival
	  	 	76	 
	 11.12
	    	 Severability
	  	 	76	 
	 11.13
	    	 Replacement of Lenders
	  	 	76	 
	 11.14
	    	 Governing Law; Jurisdiction; Etc.
	  	 	77	 
	 11.15
	    	 Waiver of Jury Trial
	  	 	78	 
	 11.16
	    	 No Advisory or Fiduciary Responsibility
	  	 	78	 
	 11.17
	    	 USA PATRIOT Act Notice
	  	 	79	 
	 11.18
	    	 Termination of Joinder Agreements
	  	 	79	 
	 11.19
	    	 Acknowledgement and Consent to Bail-In of EEA Financial
Institutions
	  	 	79	 

  
 - iii - 

			
	 SCHEDULES
	 	
		
	 2.01
	 	 Commitments and Applicable Percentages

	 7.01
	 	 Existing Liens

	 11.02
	 	 Administrative Agent’s Office; Certain Addresses for Notices

		
	 EXHIBITS
	 	
		
		 	 Form of

		
	 A
	 	 Committed Loan Notice

	 B
	 	 Note

	 C
	 	 Compliance Certificate

	 D
	 	 Assignment and Assumption

	 E
	 	 U.S. Tax Compliance Certificate

	 F
	 	 Joinder Agreement

  
 - iv - 

 364-DAY CREDIT AND GUARANTEE AGREEMENT 

This 364-DAY CREDIT AND GUARANTEE AGREEMENT (“Agreement”) is entered into as of
December 5, 2017, among PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”), the Designated Borrowers from time to time parties hereto, PAYPAL, INC., a Delaware corporation (the “Subsidiary
Guarantor”), each lender from time to time party hereto (collectively, the “Lenders” and individually, a “Lender”), and JPMORGAN CHASE BANK, N.A., as Administrative Agent. 

The Borrower has requested that the Lenders provide a delayed-draw term loan credit facility, and the Lenders are willing to do so on the
terms and conditions set forth herein. 
 In consideration of the mutual covenants and agreements herein contained, the parties hereto
covenant and agree as follows: 
 ARTICLE I. 

DEFINITIONS AND ACCOUNTING TERMS 

1.01 Defined Terms. As used in this Agreement, the following terms shall have the meanings set forth below: 

“ABR” means, for any day, a rate per annum equal to the greatest of (a) the Prime Rate in effect on such day,
(b) the NYFRB Rate in effect on such day plus  1⁄2 of 1% and (c) the Adjusted Eurocurrency Rate for a one month Interest Period on such day (or if
such day is not a Business Day, the immediately preceding Business Day) plus 1%, provided that for the purpose of this definition, the Adjusted Eurocurrency Rate for any day shall be based on the Eurocurrency Screen Rate (or if the
Eurocurrency Screen Rate is not available for such one month Interest Period, the Interpolated Rate) at approximately 11:00 a.m. London time on such day. Any change in the ABR due to a change in the Prime Rate, the NYFRB Rate or the Adjusted
Eurocurrency Rate shall be effective from and including the effective date of such change in the Prime Rate, the NYFRB Rate or the Adjusted Eurocurrency Rate, respectively. If the ABR is being used as an alternate rate of interest pursuant to
Section 3.03 hereof, then the ABR shall be the greater of clause (a) and (b) above and shall be determined without reference to clause (c) above. For the avoidance of doubt, if the ABR shall be less than zero,
such rate shall be deemed to be zero for purposes of this Agreement. When used in reference to any Loan or Borrowing, “ABR” refers to whether such Loan, or the Loans comprising such Borrowing, bear interest at a rate determined by
reference to the ABR. 
 “Acquisition” means any transaction or series of related transactions for the purpose of or
resulting, directly or indirectly, in (a) the acquisition of all or substantially all of the assets of a Person, or of any business or division of a Person, (b) the acquisition of in excess of 50% of the capital stock, partnership
interests, membership interests or equity of any Person, or otherwise causing any Person to become a Subsidiary, or (c) a merger or consolidation or any other combination with another Person (other than a Person that is a Subsidiary of the
Borrower). 
 “Actual Knowledge” means, with respect to any information or event, that a Responsible Officer of the
Borrower has actual knowledge of such information or event. 

 “Adjusted Eurocurrency Rate” means, with respect to any Eurocurrency Rate Loan
for any Interest Period, an interest rate per annum equal to (a) the Eurocurrency Rate for such Interest Period multiplied by (b) the Statutory Reserve Rate. 

“Administrative Agent” means JPMorgan Chase Bank, N.A., in its capacity as administrative agent under any of the Loan
Documents, or any successor administrative agent. 
 “Administrative Agent’s Office” means the Administrative
Agent’s address in the United States and, as appropriate, account as set forth on Schedule 11.02, or such other address in the United States or account as the Administrative Agent may from time to time notify to the Borrower and the
Lenders. 
 “Administrative Questionnaire” means an Administrative Questionnaire in a form supplied by the Administrative
Agent. 
 “Affiliate” means, with respect to any Person, another Person that directly, or indirectly through one or more
intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent Parties” has
the meaning specified in Section 11.02(c). 
 “Aggregate Commitments” means the Commitments of
all the Lenders. 
 “Agreement” has the meaning specified in the introductory paragraph hereto. 

“Anti-Corruption Laws” means all laws, rules, and regulations of any jurisdiction applicable to the Borrower or any of its
Subsidiaries from time to time concerning or relating to bribery or corruption. 
 “Applicable Early Maturity Amount”
means, with respect to any Early Maturity Event, the aggregate (without duplication) financing commitments obtained and/or Net Cash Proceeds received in the Capital Markets Transaction giving rise to such Early Maturity Event.

“Applicable Jurisdiction” has the meaning specified in Section 11.04(a). 

“Applicable Percentage” means with respect to any Lender at any time, the percentage (carried out to the ninth decimal place)
of the Aggregate Commitments represented by such Lender’s Commitment at such time; provided that in the case of Section 2.12 when a Defaulting Lender shall exist, “Applicable Percentage” shall mean the
percentage of the total Commitments (disregarding any Defaulting Lender’s Commitment) represented by such Lender’s Commitment. If the commitment of each Lender to make Loans has been terminated pursuant to
Section 8.02 or if the Aggregate Commitments have expired, then the Applicable Percentage of each Lender shall be determined based on the Applicable Percentage of such Lender most recently in effect, giving effect to any
subsequent assignments. The initial Applicable Percentage of each Lender is set forth opposite the name of such Lender on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable.

  
 2 

 “Applicable Rate” means, for any day, with respect to any ABR Loan or
Eurocurrency Rate Loan, or with respect to the Commitment Fees payable hereunder, as the case may be, the applicable rate per annum set forth below under the caption “Eurocurrency Rate”, “ABR Rate” or “Commitment Fee”,
as the case may be, based upon the Index Debt Rating by Moody’s, S&P and/or Fitch, respectively, applicable on such date: 

Applicable Rate 
  

													
	 Index Debt Rating
	  	Eurocurrency
Rate	 	 	ABR Rate	 	 	Commitment
Fee	 
	 Level I
  

Index Debt Ratings of at least A- by
S&P/A- by Fitch/A3 by Moody’s
	  	 	1.00	% 	 	 	0.00	% 	 	 	0.08	% 
	 Level II
  

Index Debt Ratings of at least BBB+ by S&P/ BBB+ by Fitch/Baa1 by Moody’s and not Level I
	  	 	1.125	% 	 	 	0.125	% 	 	 	0.10	% 
	 Level III
  

Index Debt Ratings below Level II
	  	 	1.25	% 	 	 	0.25	% 	 	 	0.125	% 

 For purposes of the foregoing pricing grid, (i) in the event that Index Debt Ratings are provided by all of Moody’s,
Fitch and S&P, and such ratings shall fall within different Levels (A) if any two ratings are at the same Level, the Applicable Rate shall be based upon such Level and (B) if no two ratings are at the same Level, the Applicable Rate shall
be based upon the Level which is in the middle of the distribution of the three ratings; (ii) in the event that Index Debt Ratings are provided by any two of Moody’s, Fitch and S&P, (A) if such ratings shall fall within the same
Level, the Applicable Rate shall be based upon such Level, and (B) if such ratings shall fall within different Levels, the Applicable Rate shall be based on the higher of the two Levels unless one of the two ratings is two or more Levels lower
than the other, in which case the Applicable Rate shall be determined by reference to the Level immediately below the Level of the higher of the two ratings; (ii) in the event that an Index Debt Rating is provided only by one of Moody’s,
Fitch and S&P, the Applicable Rate shall be based on such Level; (iii) if at any time the Borrower does not have an Index Debt Rating from any of S&P, Moody’s and Fitch, the Applicable Rate shall be based on Level III status; and
(iv) if the Index Debt Rating established by a rating agency shall be changed (other than as a result of a change in the rating 

  
 3 

 
system of such rating agency), such change shall be effective as of the date on which it is first announced by the applicable rating agency, irrespective of when notice of such change shall have
been furnished by the Borrower to the Administrative Agent pursuant to Section 6.02 or otherwise. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change and ending
on the date immediately preceding the effective date of the next such change. If the rating system of any of the rating agencies shall change, or if any such rating agency shall cease to be in the business of rating corporate debt obligations, the
Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the Applicable Rate
shall be determined by reference to the rating most recently in effect prior to such change or cessation. 
 “Approved
Fund” means any Fund that is administered or managed by (a) a Lender, (b) an Affiliate of a Lender or (c) an entity or an Affiliate of an entity that administers or manages a Lender. 

“Arrangers” means JPMorgan Chase Bank, N.A., Goldman Sachs Bank USA and Morgan Stanley Senior Funding, Inc. 

“Assignee Group” means two or more Eligible Assignees that are Affiliates of one another or two or more Approved Funds
managed by the same investment advisor. 
 “Assignment and Assumption” means an assignment and assumption entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section 11.06(b)), and accepted by the Administrative Agent (and the Borrower, in the case that the Borrower’s consent is required
hereunder), in substantially the form of Exhibit D or any other form approved by the Administrative Agent and the Borrower. 

“Attributable Indebtedness” means, on any date, (a) in respect of any capital lease of any Person, the capitalized
amount thereof that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP, (b) in respect of any Synthetic Lease Obligation, the capitalized amount of the remaining lease payments under the relevant
lease that would appear on a balance sheet of such Person prepared as of such date in accordance with GAAP if such lease were accounted for as a capital lease and (c) in respect of any Securitization, an amount equal to (i) the outstanding
principal amount of Indebtedness incurred at such time by the Securitization Subsidiary, or (ii) if the Securitization Subsidiary has incurred no such Indebtedness, the unrecovered purchase price of all accounts receivable (or interest therein)
or other assets sold or transferred by such Securitization Subsidiary to the conduit entity or other credit provider relating to such Securitization. 

“Audited Financial Statements” means the audited consolidated balance sheet of the Borrower and its Subsidiaries for the
fiscal year ended December 31, 2016, and the related audited consolidated statements of income or operations, Stockholders’ Equity and cash flows for such fiscal year of the Borrower and its Subsidiaries, including the notes thereto. 

“Availability Period” means the period from and including the Closing Date to, but not including, the Commitment Termination
Date. 

  
 4 

 “Bail-In Action” means the exercise of
any Write-Down and Conversion Powers by the applicable EEA Resolution Authority in respect of any liability of an EEA Financial Institution. 

“Bail-In Legislation” means, with respect to any EEA Member Country implementing
Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law for such EEA Member Country from time to time which is described in the EU Bail-In
Legislation Schedule. 
 “Borrower” has the meaning specified in the introductory paragraph hereto. 

“Borrower Materials” means materials and/or information made available to the Lenders by the Administrative Agent or provided
by or on behalf of the Borrower under this Agreement. 
 “Borrowing” means a borrowing consisting of simultaneous Loans of
the same Type and, in the case of Eurocurrency Rate Loans, having the same Interest Period, made by each of the Lenders pursuant to Section 2.01. 

“Business Day” means any day other than a Saturday, Sunday or other day on which commercial banks are authorized to close
under the Laws of, or are in fact closed in, New York City, New York or San Francisco, California; provided that if such day relates to any Eurocurrency Rate Loan, the term “Business Day” shall also exclude any day on which banks
are not open for dealings in U.S. Dollars in the London interbank market. 
 “Capital Markets Transaction” means any
transaction whereby the Borrower or any of its Subsidiaries (i) issues any securities, including equity, debt and hybrid securities, debt securities convertible to equity and any and all warrants, rights or options to purchase any of the
foregoing, in each case whether in a public offering or a private placement, but excluding any issuances pursuant to employee stock plans or other benefit or employee incentive arrangements issuances, or (ii) enters into any credit facility or
increases the aggregate commitments in respect of the Existing Facility; provided, however, that “Capital Markets Transaction” shall not include (i) any amendment or amendment and restatement of the Existing Facility or
any refinancing of the Existing Facility to the extent such amendment, amendment and restatement or refinancing does not (x) increase the aggregate commitments under the Existing Facility to an amount in excess of the aggregate commitments
under the Existing Facility as of the date hereof (such excess amount, an “Amendment Excess Commitment Amount”) or (y) provide for aggregate commitments in an amount in excess of the aggregate commitments under the Existing
Facility as of the date hereof (such excess amount, a “Refinancing Excess Commitment Amount”), as applicable, (ii) intercompany debt among the Borrower and/or its Subsidiaries; (iii) any issuances by any Subsidiary of the
Borrower to any other Subsidiary of the Borrower or to the Borrower, (iv) extensions of credit under the Existing Facility or any revolving facility in replacement thereof in a principal amount not to exceed $1,000,000,000 in the aggregate,
(v) any other ordinary course borrowings under and commitments under existing working capital or overdraft facilities (other than the Existing Facility or a replacement thereof), (vi) commitments under and extensions of credit under working
capital facilities and overdraft facilities entered into after the Closing Date in a principal amount not to exceed $250,000,000 in the aggregate, and (vii) purchase money indebtedness and capital leases incurred in the ordinary course of
business. Notwithstanding anything to the contrary contained herein, if the Borrower enters into any 

  
 5 

 
amendment or amendment and restatement of the Existing Facility or any refinancing of the Existing Facility, only the portion of such amended, amended and restated or refinanced facility
consisting of the Amendment Excess Commitment Amount or a Refinancing Excess Commitment Amount, as applicable, or consisting of extensions of credit in excess of $1,000,000,000 in the aggregate shall be deemed a Capital Markets
Transaction.     
 “Change in Law” means the occurrence, after the date of this Agreement or, with
respect to any Lender, such later date on which such Lender becomes a party to this Agreement, of any of the following: (a) the adoption or taking effect of any law, rule, regulation or treaty, (b) any change in any law, rule, regulation
or treaty or in the administration, interpretation or application thereof by any Governmental Authority or (c) the making or issuance of any request, guideline or directive (whether or not having the force of law) by any Governmental Authority;
provided that, notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States or foreign regulatory authorities,
in each case pursuant to Basel III, shall be deemed to be a “Change in Law”, regardless of the date enacted, adopted, issued or implemented. 

“Change of Control” means an event or series of events by which: any “person” or “group”
(as such terms are used in Sections 13(d) and 14(d) of the Exchange Act, but excluding any employee benefit plan of such person or its subsidiaries, and any person or entity acting in its capacity as trustee, agent or other fiduciary or
administrator of any such plan) becomes the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the Exchange Act, directly or indirectly, of 50% or
more of the equity securities of the Borrower entitled to vote for members of the board of directors or equivalent governing body of the Borrower on a fully-diluted basis. 

“Closing Date” means the first date all the conditions precedent in Section 4.01 are satisfied or
waived in accordance with Section 11.01. 
 “Code” means the U.S. Internal Revenue Code of 1986.

 “Commitment” means, as to any Lender, the obligation of such Lender, if any, to make Loans in an aggregate principal
amount and/or face amount not to exceed the amount set forth under the heading “Commitment” opposite such Lender’s name on Schedule 2.01 or in the Assignment and Assumption pursuant to which such Lender became a party hereto,
as the same may be changed from time to time pursuant to the terms and conditions hereof. The aggregate original amount of the Commitments is $3,000,000,000. 

“Commitment Fee” has the meaning specified in Section 2.07(a). 

“Commitment Termination Date” means the earliest to occur of (a) April 6, 2018, (b) the date of the third Borrowing
pursuant to Section 2.01, (c) the date on which the Aggregate Commitments are terminated or reduced to $0 pursuant to Section 2.01(b) or 2.04, and (d) the date of termination of the
commitment of each Lender to make Loans pursuant to Section 8.02. 

  
 6 

 “Committed Loan Notice” means a notice of (a) a Borrowing, (b) a
conversion of Loans from one Type to the other, or (c) a continuation of Eurocurrency Rate Loans, pursuant to Section 2.02(a), which, if in writing, shall be substantially in the form of Exhibit A. 

“Commodity Exchange Act” means the Commodity Exchange Act (7 U.S.C. § 1 et seq.) and any successor statute. 

“Compliance Certificate” means a certificate substantially in the form of Exhibit C. 

“Consolidated EBITDA” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, an amount equal
to Consolidated Net Income for such period plus the following to the extent deducted in calculating such Consolidated Net Income: (a) interest expense for such period, (b) depreciation and amortization expense (including
amortization or impairment of Intangible Assets for Acquisitions or Dispositions), for such period, (c) income tax expense for such period, (d) non-cash charges or expenses related to equity plans or
equity awards in such period, (e) payroll taxes on exercise of stock options or vesting of restricted stock units or other equity awards in such period, (f) impairment of goodwill in such period, (g) extraordinary losses from
Acquisitions or Dispositions for such period, (h) any transaction expenses from Acquisitions or Dispositions for such period, and (i) non-cash restructuring charges and other non-cash exit and disposal costs during such period (provided that cash payments in respect of such restructuring charges and exit and disposal costs shall be deducted from Consolidated EBITDA when such
payments are made), and minus the following to the extent included in calculating such Consolidated Net Income: (x) extraordinary gains from Acquisitions or Dispositions for such period and (y) any reversals of non-cash restructuring charges or other non-cash exit and disposal costs during such period; provided, however, that solely for the purpose of the computations
of the Consolidated Interest Coverage Ratio or Consolidated Leverage Ratio, if an Acquisition or a Disposition shall have occurred during the relevant period, Consolidated EBITDA shall be calculated, at the option of the Borrower, on a pro forma
basis in accordance with the SEC pro forma reporting rules under the Exchange Act, as if such Acquisition or Disposition, as applicable, occurred on the first day of the applicable period. 

“Consolidated Interest Coverage Ratio” means, as of any date of determination, the ratio of (a) Consolidated EBITDA for
the period of four fiscal quarters most recently ended to (b) Consolidated Interest Expense for the period of four fiscal quarters most recently ended. 

“Consolidated Interest Expense” means, for any period, total interest expense (exclusive of any reduction or offset for
interest income) of the Borrower and its Subsidiaries for such period with respect to all outstanding Indebtedness for borrowed money of the Borrower and its Subsidiaries and computed in accordance with GAAP; provided, however, that,
solely for the purpose of the computations of the Consolidated Interest Coverage Ratio, if there has occurred an Acquisition or Disposition during the relevant period, Consolidated Interest Expense shall be calculated, at the option of the Borrower,
on a pro forma basis in accordance with the SEC pro forma reporting rules under the Exchange Act, as if such Acquisition or Disposition, as applicable, occurred on the first day of the applicable period. 

  
 7 

 “Consolidated Leverage Ratio” means, as of any date of determination, the ratio
of (a) Consolidated Total Debt as of such date to (b) Consolidated EBITDA for the period of four fiscal quarters ended on such date. 

“Consolidated Net Income” means, for any period, for the Borrower and its Subsidiaries on a consolidated basis, the net
income of the Borrower and its Subsidiaries (excluding extraordinary gains and extraordinary losses) for that period and computed in accordance with GAAP. 

“Consolidated Net Tangible Assets” means, as of any date on which the Borrower effects a transaction requiring such
Consolidated Net Tangible Assets to be measured under this Agreement, the aggregate amount of assets (less applicable reserves) after deducting therefrom (a) all current liabilities, except for current maturities of long-term debt and
obligations under capital leases, and (b) all Intangible Assets, to the extent included in said aggregate amount of assets, all as set forth in the most recent consolidated balance sheet of the Borrower and its consolidated Subsidiaries
prepared in accordance with GAAP contained in an annual report on Form 10-K or a quarterly report on Form 10-Q (in each case as amended, if applicable) filed by the
Borrower with the SEC or if, at such date, the Borrower shall have ceased filing such reports with the SEC, the Borrower’s then most recent consolidated annual or quarterly balance sheet prepared in accordance with GAAP. 

“Consolidated Total Debt” means, at any date, the aggregate principal amount of all Indebtedness for borrowed money of the
Borrower and its Subsidiaries at such date, determined on a consolidated basis in accordance with GAAP. 
 “Control” means
the possession, directly or indirectly, of the power to direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and
“Controlled” have meanings correlative thereto. 
 “Credit Party” means the Administrative Agent (and, for
purposes of Section 2.13 and the definition of “Defaulting Lender”, each Lender). 
 “Debtor
Relief Laws” means the Bankruptcy Code of the United States, and all other liquidation, conservatorship, bankruptcy, assignment for the benefit of creditors, moratorium, rearrangement, receivership, insolvency, reorganization, or similar
debtor relief Laws of the United States or other applicable jurisdictions from time to time in effect and affecting the rights of creditors generally. 

“Default” means any event or condition that constitutes an Event of Default or that, with the giving of any notice, the
passage of time, or both, would be an Event of Default. 
 “Default Rate” means, with respect to the Obligations, an
interest rate equal to (i) the ABR plus (ii) the Applicable Rate, if any, applicable to ABR Loans plus (iii) 2% per annum; provided, however, that with respect to a Eurocurrency Rate Loan, the Default Rate shall
be an interest rate equal to the interest rate (including any Applicable Rate) otherwise applicable to such Loan plus 2% per annum. 

  
 8 

 “Defaulting Lender” means any Lender that (a) has failed, within two
Business Days of the date required to be funded or paid, to (i) fund any portion of its Loans or (ii) pay over to any Credit Party any other amount required to be paid by it hereunder, unless, in the case of clause (i) above, such
Lender notifies the Administrative Agent in writing that such failure is the result of such Lender’s good faith determination that a condition precedent to funding (specifically identified and including the particular default, if any) has not
been satisfied, (b) has notified the Borrower or any Credit Party in writing, or has made a public statement to the effect, that it does not intend or expect to comply with any of its funding obligations under this Agreement (unless such
writing or public statement indicates that such position is based on such Lender’s good faith determination that a condition precedent (specifically identified and including the particular default, if any) to funding a loan under this Agreement
cannot be satisfied), (c) has failed, within three Business Days after written request by the Administrative Agent or the Borrower, to provide a certification in writing from an authorized officer of such Lender that it will comply with its
obligations to fund prospective Loans under this Agreement, provided that such Lender shall cease to be a Defaulting Lender pursuant to this clause (c) upon the Administrative Agent’s or the Borrower’s receipt of such
certification in form and substance reasonably satisfactory to the Borrower and the Administrative Agent or (d) has, or has a direct or indirect parent company that has, (i) become the subject of a proceeding under any Debtor Relief Law,
(ii) had appointed for it a receiver, custodian, conservator, trustee, administrator, assignee for the benefit of creditors or similar Person charged with reorganization or liquidation of its business or assets, including the Federal Deposit
Insurance Corporation or any other state or federal regulatory authority acting in such a capacity, or (iii) become the subject of a Bail-In Action; provided that a Lender shall not be a Defaulting
Lender solely by virtue of the ownership or acquisition of any equity interest in that Lender or any direct or indirect parent company thereof by a Governmental Authority so long as such ownership interest does not result in or provide such Lender
with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Lender (or such Governmental Authority) to reject, repudiate, disavow or disaffirm any
contracts or agreements made with such Lender. 
 “Designated Borrower” means each Subsidiary of the Borrower that becomes
a party hereto pursuant to Section 4.03, until such time as the Borrower notifies the Administrative Agent in writing that it wishes to terminate such Subsidiary’s designation as a Designated Borrower, so long as, on the effective date of
such termination, all Obligations of such Designated Borrower hereunder shall have been paid in full. 
 “Designated Borrower
Closing Date” means, with respect to each Designated Borrower, the date on which the conditions precedent set forth in Section 4.03 shall have been satisfied in respect of such Designated Borrower. 

“Disposition” or “Dispose” means the sale, transfer, license, lease or other disposition (including any sale
and leaseback transaction) of any property by any Person, including any sale, assignment, transfer or other disposal, with or without recourse, of any notes or accounts receivable or any rights and claims associated therewith. 

“Documentation Agents” means The Bank of Tokyo-Mitsubishi UFJ, Ltd. and HSBC Bank USA, N.A. 

  
 9 

 “Duration Fee” has the meaning specified in
Section 2.07(b). 
 “Duration Fee Rate” means a rate determined in accordance with the table set
forth below: 
  

					
	 Date
	  	Rate	 
	 April 6, 2018
	  	 	0.075	% 
	 July 6, 2018
	  	 	0.125	% 

 “Early Maturity Event” means the consummation of a Capital Markets Transaction by the
Borrower or any of its Subsidiaries. 
 “EEA Financial Institution” means (a) any institution established in any EEA
Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in clause (a) of this definition, or (c) any
institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision with its parent. 

“EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and Norway. 

“EEA Resolution Authority” means any public administrative authority or any Person entrusted with public administrative
authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Eligible Assignee” means any Person that meets the requirements to be an assignee under
Section 11.06(b) (subject to such consents, if any, as may be required under Section 11.06(b)(iii)). 

“ERISA” means the Employee Retirement Income Security Act of 1974. 

“ERISA Affiliate” means any trade or business (whether or not incorporated) under common control with the Borrower within the
meaning of Section 414(b) or (c) of the Code or Section 4001(a)(14) of ERISA (and Sections 414(m) and (o) of the Code for purposes of provisions relating to Section 412 of the Code). 

“ERISA Event” means (a) a Reportable Event with respect to a Pension Plan; (b) a withdrawal by the Borrower or any
ERISA Affiliate from a Pension Plan subject to Section 4063 of ERISA during a plan year in which it was a substantial employer (as defined in Section 4001(a)(2) of ERISA) or a cessation of operations that is treated as such a withdrawal
under Section 4062(e) of ERISA; (c) a complete or partial withdrawal (as such terms are used in Sections 4203 and 4205, respectively, of ERISA) by the Borrower or any ERISA Affiliate from a Multiemployer Plan; (d) the failure of the
Borrower or ERISA Affiliate to make by its due date a 

  
 10 

 
required installment under Section 430(j) of the Code with respect to any Pension Plan or any failure by any Pension Plan to satisfy the minimum funding standards (within the meaning of
Section 412 of the Code or Section 302 of ERISA) applicable to such Pension Plan, whether or not waived in accordance with Section 412(c) of the Code or Section 302(c) of ERISA; (e) the filing pursuant to Section 412 of
the Code or Section 302 of ERISA of an application for a waiver of the minimum funding standard with respect to any Pension Plan; (f) the failure by the Borrower or any of its ERISA Affiliates to pay when due (after expiration of any
applicable grace period) any installment payment with respect to Withdrawal Liability under Section 4201 of ERISA; (g) the filing of a notice of intent to terminate, the treatment of a plan amendment as a termination under
Section 4041 or 4041A of ERISA, the commencement of proceedings by the PBGC to terminate pursuant to Section 4042 of ERISA, or the appointment of a trustee to administer pursuant to Section 4042 of ERISA, any Pension Plan or
Multiemployer Plan; or (h) the imposition of any liability under Title IV of ERISA, other than for PBGC premiums due but not delinquent under Section 4007 of ERISA, upon the Borrower or any ERISA Affiliate. 

“EU Bail-In Legislation Schedule” means the EU
Bail-In Legislation Schedule published by the Loan Market Association (or any successor Person), as in effect from time to time. 

“Eurocurrency Rate” means, with respect to any Eurocurrency Rate Loan for any Interest Period, the Eurocurrency Screen Rate
at approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period; provided that if the Eurocurrency Screen Rate shall not be available at such time for such Interest Period (an “Impacted
Interest Period”) then the Eurocurrency Rate shall be the Interpolated Rate. 
 “Eurocurrency Rate Loan” means a
Loan that bears interest at a rate based on the Eurocurrency Rate. 
 “Eurocurrency Screen Rate” means, for any day and
time, with respect to any Eurocurrency Rate Loan for any Interest Period, the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate for U.S. Dollars for a
period equal in length to such Interest Period as displayed on such day and time on pages LIBOR01 or LIBOR02 of the Reuters screen that displays such rate (or, in the event such rate does not appear on a Reuters page or screen, on any successor or
substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion, provided
that if the Eurocurrency Screen Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Event of Default” has the meaning specified in Section 8.01. 

“Exchange Act” means the Securities Exchange Act of 1934. 

“Excluded Earnout” means any obligations of the Borrower or any Subsidiary to pay additional consideration in connection with
any Acquisition, if such additional consideration is payable (i) in capital stock or other equity interests or (ii) in cash or in capital stock or other equity interests (at the option of the Borrower or such Subsidiary). 

  
 11 

 “Excluded Taxes” means, with respect to the Administrative Agent, any Lender or
any other recipient of any payment to be made by or on account of any obligation of any Loan Party hereunder: (a) taxes imposed on or measured by its overall net income (however denominated), and franchise taxes imposed on it (in lieu of net
income taxes), by the jurisdiction (or any political subdivision thereof) under the laws of which such recipient is organized, in which its principal office is located or, in the case of any Lender, in which its applicable Lending Office is located,
or taxes imposed as a result of a present or former connection with such jurisdiction (other than a connection arising solely from such recipient having executed, delivered, enforced, become a party to, performed its obligations, received payments,
received or perfected a security interest under, or engaged in any other transaction in accordance with the terms of this Agreement); (b) any branch profits taxes imposed by the United States or any similar tax imposed by any other jurisdiction in
which any Loan Party is located; (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by any Loan Party under Section 11.13), any U.S. federal withholding tax that is imposed on amounts
payable to such Foreign Lender at the time such Foreign Lender becomes a party hereto (or designates a new Lending Office), except to the extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation of a new
Lending Office (or assignment), to receive additional amounts from any Loan Party with respect to such withholding tax pursuant to Section 3.01(a); (d) in the case of a Foreign Lender who is an assignee (other than an
assignee pursuant to a request by any Loan Party under Section 11.13) of a Loan made to a Loan Party, any withholding tax that is imposed on amounts payable to such Foreign Lender by such Loan Party at the time such Foreign
Lender becomes a party hereto, except to the extent that such Foreign Lender’s assignor was entitled at such time to receive additional amounts from such Loan Party with respect to such withholding tax pursuant to
Section 3.01(a); (e) any withholding tax attributable to a Foreign Lender’s failure or inability (other than as a result of a Change in Law) to comply with Section 3.01(e); and (f) U.S.
federal withholding taxes imposed pursuant to FATCA. 
 “Existing Facility” means the revolving credit facility made
available to the Borrower pursuant to the Credit and Guarantee Agreement, dated as of July 17, 2015, among the Borrower, the Subsidiary Guarantor, JPMorgan Chase Bank, N.A., as administrative agent, and the other parties from time to time party
thereto. 
 “FATCA” means sections 1471 through 1474 of the Code, as of the date of this Agreement (or any amended or
successor version that is substantively comparable and not materially more onerous to comply with), any current or future regulations or official interpretations thereof, any agreement entered into pursuant to Section 1471(b)(1) of the Code and
any law, regulation, rule, promulgation, or official agreement implementing an official government agreement with respect to the foregoing. 

“Federal Funds Effective Rate” means, for any day, the rate calculated by the NYFRB based on such day’s federal funds
transactions by depositary institutions, as determined in such manner as the NYFRB shall set forth on its public website from time to time, and published on the next succeeding Business Day by the NYFRB as the federal funds effective rate,
provided that if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

  
 12 

 “Fitch” means Fitch, Inc. and any affiliate thereof and any successor thereto
that is a nationally-recognized rating agency. 
 “Foreign Benefit Arrangement” means any employee benefit arrangement
mandated by non-US law that is maintained or contributed to by the Borrower or any Subsidiary. 

“Foreign Lender” means, as to the Borrower or any Designated Borrower, any Lender that is organized under the laws of a
jurisdiction other than that in which the Borrower or such Designated Borrower, as the case may be, is resident for tax purposes. For purposes of this definition, the United States, each State thereof and the District of Columbia shall be deemed to
constitute a single jurisdiction. 
 “Foreign Plan” means each employee benefit plan (within the meaning of
Section 3(3) of ERISA, whether or not subject to ERISA) that is not subject to U.S. law and is maintained or contributed to by the Borrower or any Subsidiary. 

“Foreign Plan Event” means, with respect to any Foreign Benefit Arrangement or Foreign Plan, (a) the failure to make or,
if applicable, accrue in accordance with normal accounting practices, any employer or employee contributions required by applicable Law or by the terms of such Foreign Benefit Arrangement or Foreign Plan; (b) the failure to register or loss of
good standing with applicable regulatory authorities of any such Foreign Benefit Arrangement or Foreign Plan required to be registered; or (c) the failure of any Foreign Benefit Arrangement or Foreign Plan to comply with any material provisions
of applicable Law or with the material terms of such Foreign Benefit Arrangement or Foreign Plan. 
 “FRB” means the Board
of Governors of the Federal Reserve System of the United States. 
 “Fund” means any Person (other than a natural person)
that is (or will be) engaged in making, purchasing, holding or otherwise investing in commercial loans and similar extensions of credit in the ordinary course of its business. 

“GAAP” means generally accepted accounting principles in the United States set forth in the opinions and pronouncements of
the Accounting Principles Board and the American Institute of Certified Public Accountants and statements and pronouncements of the Financial Accounting Standards Board, that are applicable to the circumstances as of the date of determination,
consistently applied. 
 “Governmental Authority” means the government of the United States or any other nation, or of any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or
functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank). 

“Guarantee” means, as to any Person, any (a) any obligation, contingent or otherwise, of such Person guaranteeing or
having the economic effect of guaranteeing any Indebtedness or other obligation payable or performable by another Person (the “primary obligor”) in any 

  
 13 

 
manner, whether directly or indirectly, and including any obligation of such Person, direct or indirect, (i) to purchase or pay (or advance or supply funds for the purchase or payment of)
such Indebtedness or other obligation, (ii) to purchase or lease property, securities or services for the purpose of assuring the obligee in respect of such Indebtedness or other obligation of the payment or performance of such Indebtedness or
other obligation, (iii) to maintain working capital, equity capital or any other financial statement condition or liquidity or level of income or cash flow of the primary obligor so as to enable the primary obligor to pay such Indebtedness or
other obligation, or (iv) entered into for the purpose of assuring in any other manner the obligee in respect of such Indebtedness or other obligation of the payment or performance thereof or to protect such obligee against loss in respect
thereof (in whole or in part), or (b) any Lien on any assets of such Person securing any Indebtedness or other obligation of any other Person, whether or not such Indebtedness or other obligation is assumed by such Person (or any right,
contingent or otherwise, of any holder of such Indebtedness to obtain any such Lien); provided that the term “Guarantee” shall not include endorsements for collection or deposit, in either case in the ordinary course of
business, or contingent or inchoate indemnity obligations in effect on the Closing Date or entered into in connection with any Acquisition or Disposition (other than such obligations with respect to Indebtedness). The amount of any Guarantee shall
be deemed to be an amount equal to the stated or determinable amount of the related primary obligation, or portion thereof, in respect of which such Guarantee is made or, if not stated or determinable, the maximum reasonably anticipated liability in
respect thereof as determined by the guaranteeing Person in good faith. The term “Guarantee” as a verb has a corresponding meaning. 

“Guarantors” means collectively, the Borrower (but only with respect to any Obligations of any Designated Borrower) and the
Subsidiary Guarantor. 
 “Impacted Interest Period” has the meaning specified in the definition of “Eurocurrency
Rate.” 
 “Indebtedness” means, as to any Person at a particular time, without duplication, all of the following,
whether or not included as indebtedness or liabilities in accordance with GAAP: (a) all obligations of such Person for borrowed money and all obligations of such Person for borrowed money evidenced by bonds, debentures, notes, loan agreements
or other similar instruments; (b) all direct or contingent obligations of such Person arising under letters of credit, bankers’ acceptances, bank guaranties, surety bonds and similar instruments; (c) net obligations of such Person
under any Swap Contract; (d) all obligations of such Person to pay the deferred purchase price of property or services (other than (i) trade accounts payable in the ordinary course of business and (ii) any earnout obligation until
such obligation becomes a liability on the balance sheet of such Person in accordance with GAAP, but in any event “Indebtedness” shall exclude any Excluded Earnout); (e) indebtedness of another Person secured by a Lien on property owned by
such Person, whether or not such indebtedness shall have been assumed by such Person or is limited in recourse (it being understood that obligations secured by Liens of the type described in Section 7.01(f) shall not
constitute Indebtedness under this clause (e)); (f) Attributable Indebtedness in respect of capital leases, Synthetic Lease Obligations and Securitizations (but excluding any operating leases required to be classified as debt under GAAP); and
(g) all Guarantees of such Person in respect of any of the foregoing. The amount of any net obligation under any Swap Contract on any date shall be deemed to be the Swap Termination Value thereof as of such date. 

  
 14 

 “Indemnified Taxes” means Taxes other than Excluded Taxes. 

“Indemnitees” has the meaning specified in Section 11.04(b). 

“Index Debt Rating” means, for Moody’s, S&P or Fitch, its rating for senior, unsecured, long-term indebtedness for
borrowed money of the Borrower that is not guaranteed by any other Person (other than the Subsidiary Guarantor) or subject to any other credit enhancement or, if no such rating is available, (x) its public corporate family rating of the
Borrower (in the case of Moody’s), (y) its public corporate rating of the Borrower (in the case of S&P) or (z) its corporate or other equivalent rating of the Borrower (in the case of Fitch). 

“Information” has the meaning specified in Section 11.07. 

“Intangible Assets” means assets that are considered to be intangible assets under GAAP, including customer lists, goodwill,
computer software, copyrights, trade names, trademarks, patents, franchises, licenses, unamortized deferred charges, unamortized debt discount and capitalized research and development costs. 

“Interest Payment Date” means, (a) as to any Loan other than an ABR Loan, the last day of each Interest Period
applicable to such Loan, and the Maturity Date; provided, however, that if any Interest Period for a Eurocurrency Rate Loan exceeds three months, the respective dates that fall every three months after the beginning of such Interest
Period shall also be Interest Payment Dates; and (b) as to any ABR Loan, the last Business Day of each March, June, September and December and the Maturity Date. 

“Interest Period” means, as to each Eurocurrency Rate Loan, the period commencing on the date such Eurocurrency Rate Loan is
disbursed or converted to or continued as a Eurocurrency Rate Loan and ending on the date one, two, three or six months thereafter, as selected by the Borrower or the applicable Designated Borrower in its Committed Loan Notice, or such other period
that is twelve months or less requested by the Borrower or such Designated Borrower and available from all Lenders; provided that: (a) any Interest Period that would otherwise end on a day that is not a Business Day shall be extended to
the next succeeding Business Day unless such Business Day falls in another calendar month, in which case such Interest Period shall end on the immediately preceding Business Day; (b) any Interest Period that begins on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the calendar month at the end of such Interest Period) shall end on the last Business Day of the calendar month at the end of such Interest Period; and (c) no
Interest Period shall extend beyond the Maturity Date. 
 “Interpolated Rate” means, at any time, for any Interest Period,
the rate per annum (rounded to the same number of decimal places as the Eurocurrency Screen Rate) determined by the Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results
from interpolating on a linear basis between: (a) the Eurocurrency Screen Rate for the longest period for which the Eurocurrency Screen Rate is available) that is shorter than the Impacted Interest Period; and (b) the Eurocurrency Screen
Rate for the shortest period (for which that Eurocurrency Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at such time. 

  
 15 

 “IP Rights” has the meaning specified in Section 5.12.

 “IRS” means the United States Internal Revenue Service. 

“Joinder Agreement” means a joinder agreement entered into by a Designated Borrower in substantially the form of Exhibit
F or any other form approved by the Administrative Agent and the Borrower. 
 “Laws” means, collectively, all
international, foreign, Federal, state and local statutes, treaties, rules, guidelines, regulations, ordinances, codes and administrative or judicial precedents or authorities, including the interpretation or administration thereof by any
Governmental Authority charged with the enforcement, interpretation or administration thereof, and all applicable administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental
Authority, in each case whether or not having the force of law. 
 “Lender” has the meaning specified in the introductory
paragraph hereto. 
 “Lending Office” means, as to any Lender, the office or offices of such Lender described as such in
such Lender’s Administrative Questionnaire, or such other office or offices as a Lender may from time to time notify the Borrower and the Administrative Agent. 

“Lien” means any mortgage, pledge, hypothecation, encumbrance in the nature of a security interest, lien (statutory or other)
or other security interest. 
 “Loan” means an extension of credit by a Lender to the Borrower or any Designated Borrower
under Article II of this Agreement. 
 “Loan Documents” means this Agreement, any Notes and any Joinder Agreements
that have not been terminated pursuant to Section 11.18. 
 “Loan Parties” means the Borrower,
each Designated Borrower and the Subsidiary Guarantor. 
 “Material Adverse Effect” means (a) a material adverse
change in, or a material adverse effect upon, the results of operations, business, properties, or financial condition of the Borrower and its Subsidiaries taken as a whole; (b) a material impairment of the ability of the Borrower to perform its
obligations under any Loan Document to which it is a party; or (c) a material adverse effect upon the legality, validity, binding effect or enforceability against the Borrower of any Loan Document to which it is a party. 

“Maturity Date” means December 4, 2018. 

“Maximum Rate” has the meaning specified in Section 11.09. 

“Moody’s” means Moody’s Investors Service, Inc. and any affiliate thereof and any successor thereto that is a
nationally-recognized rating agency. 

  
 16 

 “Multiemployer Plan” means any “employee benefit plan” (as such term
is defined in Section 3(3) of ERISA) of the type described in Section 4001(a)(3) of ERISA, to which the Borrower or any ERISA Affiliate makes or is obligated to make contributions, or during the preceding five plan years, has made or been
obligated to make contributions. 
 “Net Cash Proceeds” means, with respect to any Capital Markets Transaction, the excess
of (i) the aggregate amount of all cash received by the Borrower or any Subsidiary in connection with such transaction over (ii) the fees, underwriting discounts, commissions and other expenses incurred by the Borrower or any of its
Subsidiaries in connection therewith. 
 “Note” means a promissory note made by the Borrower in favor of a Lender
requesting such a promissory note evidencing Loans made by such Lender, substantially in the form of Exhibit B. 

“NYFRB” means the Federal Reserve Bank of New York. 

“NYFRB Rate” means, for any day, the greater of (a) the Federal Funds Effective Rate in effect on such day and
(b) the Overnight Bank Funding Rate in effect on such day (or for any day that is not a Business Day, for the immediately preceding Business Day); provided that if none of such rates are published for any day that is a Business Day, the
term “NYFRB Rate” means the rate for a federal funds transaction quoted at 11:00 a.m. on such day received to the Administrative Agent from a Federal funds broker of recognized standing selected by it; provided, further, that
if any of the aforesaid rates shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. 

“Obligations” means all advances to, and debts, liabilities, obligations, covenants and duties of, the Borrower and/or the
Designated Borrowers arising under any Loan Document or otherwise with respect to any Loan, whether direct or indirect (including those acquired by assumption), absolute or contingent, due or to become due, now existing or hereafter arising
(including, in the case of any Guarantor, its obligations pursuant to the guarantee contained in Article X). 
 “Organization
Documents” means, (a) with respect to any corporation, the certificate or articles of incorporation and the bylaws (or equivalent or comparable constitutive documents with respect to any non-U.S.
jurisdiction); (b) with respect to any limited liability company, the certificate or articles of formation or organization and operating agreement (or equivalent comparable constitutive documents with respect to any
non-U.S. jurisdiction); and (c) with respect to any partnership, joint venture, trust or other form of business entity, the partnership, joint venture or other applicable agreement of formation or
organization and any agreement, instrument, filing or notice with respect thereto filed in connection with its formation or organization with the applicable Governmental Authority in the jurisdiction of its formation or organization and, if
applicable, any certificate or articles of formation or organization of such entity. 
 “Other Taxes” means all present or
future stamp or documentary taxes or any other excise or property taxes, charges or similar levies arising from any payment made hereunder or under any other Loan Document or from the execution, delivery or enforcement of, or otherwise with respect
to, this Agreement or any other Loan Document. 

  
 17 

 “Outstanding Amount” means, with respect to any Lender at any time, the
aggregate outstanding principal amount of Loans at such time after giving effect to any borrowings and prepayments or repayments of Loans. 

“Overnight Bank Funding Rate” means, for any day, the rate comprised of both overnight federal funds and overnight
Eurocurrency Rate Loans by U.S.-managed banking offices of depository institutions, as such composite rate shall be determined by the NYFRB as set forth on its public website from time to time, and published on the next succeeding Business Day by
the NYFRB as an overnight bank funding rate (from and after such date as the NYFRB shall commence to publish such composite rate). 

“Participant” has the meaning specified in Section 11.06(d). 

“Participant Register” has the meaning specified in Section 11.06(d). 

“Patriot Act” has the meaning specified in Section 11.17. 

“PBGC” means the Pension Benefit Guaranty Corporation. 

“PCAOB” means the Public Company Accounting Oversight Board. 

“Pension Plan” means any “employee pension benefit plan” (as such term is defined in Section 3(2) of ERISA),
other than a Multiemployer Plan, that is subject to Title IV of ERISA and is sponsored or maintained by the Borrower or any ERISA Affiliate or to which the Borrower or any ERISA Affiliate contributes or has an obligation to contribute, or in the
case of a multiple employer or other plan described in Section 4064(a) of ERISA, has made contributions at any time during the immediately preceding five plan years. 

“Person” means any natural person, corporation, limited liability company, trust, joint venture, association, company,
partnership, Governmental Authority or other entity. 
 “Plan” means any “employee benefit plan” (as such term is
defined in Section 3(3) of ERISA) established by the Borrower or, with respect to any such plan that is subject to Section 412 of the Code or Title IV of ERISA, any ERISA Affiliate. 

“Plan Asset Regulation” means the regulations issued by the United States Department of Labor at Section 2510.3-101 of Part 2510 of Chapter XXV, Title 29 of the United States Code of Federal Regulations, as modified by Section 3(42) of ERISA, as the same may be amended from time to time. 

“Platform” means IntraLinks or another similar electronic system. 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by JPMorgan Chase Bank, N.A., as its
prime rate in effect at its office located at 270 Park Avenue, New York, New York; each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

  
 18 

 “Register” has the meaning specified in
Section 11.06(c). 
 “Registered Public Accounting Firm” has the meaning specified in the
Securities Laws and shall be independent of the Borrower as prescribed by the Securities Laws. 
 “Related Parties” means,
with respect to any Person, such Person’s Affiliates and the partners, directors, officers, employees agents and advisors of such Person and of such Person’s Affiliates. 

“Release Condition Ratings” means an Index Debt Rating of the Borrower of at least two of the following: BBB+ by S&P,
BBB+ by Fitch and Baa1 by Moody’s. 
 “Reportable Event” means any of the events set forth in Section 4043(c) of
ERISA, other than events for which the 30 day notice period has been waived. 
 “Required Lenders” means, as of any date of
determination, Lenders having more than 50% of the sum of the unused Aggregate Commitments and the Total Outstandings; provided that the Commitment of, and the portion of the Total Outstandings held or deemed to be held by, any Defaulting
Lender shall be excluded for purposes of making a determination of Required Lenders. 
 “Responsible Officer” means the
chief executive officer, chief financial officer or treasurer of any Loan Party and, solely for purposes of notices given pursuant to Article II, any other officer or employee of the Borrower (or, with respect to a Designated Borrower, of
such Designated Borrower) so designated by any of the foregoing officers in the corporate banking resolutions delivered as of the Closing Date pursuant to Section 4.01(a)(iii) (or, with respect to a Designated Borrower, as
of the applicable Designated Borrower Closing Date pursuant to Section 4.03(c)) to the Administrative Agent, and as modified from time to time to specify other authorized officers or employees, provided that a
certified copy of such modified resolutions is promptly delivered to the Administrative Agent. Any document delivered hereunder that is signed by a Responsible Officer of a Loan Party shall be conclusively presumed to have been authorized by all
necessary corporate, partnership and/or other action on the part of such Loan Party and such Responsible Officer shall be conclusively presumed to have acted on behalf of such Loan Party. 

“S&P” means Standard & Poor’s Financial Services LLC and any affiliate thereof and any successor thereto
that is a nationally-recognized rating agency. 
 “Sale Lease-Back Transaction” means any arrangement with any Person
providing for the leasing by the Borrower or any Subsidiary of the Borrower of any property which has been or is to be sold or transferred by the Borrower or such Subsidiary to such Person with the intention of taking back a lease of such property.

  
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 “Sanctioned Country” means, at any time, a country, region or territory which is
itself the subject or target of any comprehensive Sanctions (at the time of this Agreement, limited to Crimea, Cuba, Iran, North Korea and Syria). 

“Sanctioned Person” means, at any time, (a) any Person listed in any Sanctions-related list of designated Persons
maintained by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or by the United Nations Security Council, the European Union, any European Union member state or Her Majesty’s Treasury of
the United Kingdom, (b) any Person operating, organized or resident in a Sanctioned Country or (c) any Person owned or controlled by any such Person or Persons described in the foregoing clauses (a) or (b). 

“Sanctions” means all economic or financial sanctions or trade embargoes imposed, administered or enforced from time to time
by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union, any
European Union member state or Her Majesty’s Treasury of the United Kingdom. 
 “Sarbanes-Oxley” means the
Sarbanes-Oxley Act of 2002. 
 “SEC” means the Securities and Exchange Commission, or any Governmental Authority succeeding
to any of its principal functions. 
 “SEC Reports” means the annual, regular, periodic and special reports that the
Borrower has filed with the SEC under Section 12, 13 or 15(d) of the Exchange Act prior to the date of this Agreement. 

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

“Securities Laws” means the Securities Act, the Exchange Act, Sarbanes-Oxley and the applicable accounting and auditing
principles, rules, standards and practices promulgated, approved or incorporated by the SEC or the PCAOB. 

“Securitization” means the securitization by the Borrower or any Subsidiary of accounts receivable or other assets. 

“Securitization Subsidiary” means a wholly-owned Subsidiary of the Borrower created solely for purposes of effectuating a
Securitization, the activities and assets of which are limited solely to such purpose and assets, and the Organization Documents of which contain customary bankruptcy-remote provisions. 

“Significant Subsidiary” means, at any time, the Subsidiary Guarantor, any Designated Borrower or any other Subsidiary that
satisfies the criteria for a “significant subsidiary” as defined in Article 1, Rule 1-02 of Regulation S-X, promulgated pursuant to the Securities Act, as such
Regulation is in effect on the date hereof. Such determination shall be made in relationship to the Borrower and its Subsidiaries on a consolidated basis as of the end of the most recently completed fiscal year on an annual basis at the time that
the annual financial statements for the Borrower and its Subsidiaries are delivered pursuant to Section 6.01(a). 

  
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 “Specified Indebtedness” has the meaning specified in
Section 8.01(e). 
 “Statutory Reserve Rate” means a fraction (expressed as a decimal), the
numerator of which is the number one and the denominator of which is the number one minus the aggregate of the maximum reserve percentage (including any marginal, special, emergency or supplemental reserves) expressed as a decimal established by the
FRB to which the Administrative Agent is subject with respect to the Adjusted Eurocurrency Rate, for eurocurrency funding (currently referred to as “Eurocurrency Liabilities” in Regulation D of the FRB). Such reserve percentage shall
include those imposed pursuant to such Regulation D. Eurocurrency Rate Loans shall be deemed to constitute eurocurrency funding and to be subject to such reserve requirements without benefit of or credit for proration, exemptions or offsets that may
be available from time to time to any Lender under such Regulation D or any comparable regulation. The Statutory Reserve Rate shall be adjusted automatically on and as of the effective date of any change in any reserve percentage. 

“Stockholders’ Equity” means, as of any date of determination, consolidated stockholders’ equity of the Borrower
and its Subsidiaries as of that date determined in accordance with GAAP. 
 “Subsidiary” of a Person means a corporation,
partnership, joint venture, limited liability company or other business entity of which a majority of the shares of securities or other interests having ordinary voting power for the election of directors or other governing body (other than
securities or interests having such power only by reason of the happening of a contingency) are at the time beneficially owned, directly, or indirectly through one or more intermediaries, or both, by such Person. Unless otherwise specified, all
references herein to a “Subsidiary” or to “Subsidiaries” shall refer to a Subsidiary or Subsidiaries of the Borrower. 

“Subsidiary Guarantor” has the meaning specified in the introductory paragraph hereto. 

“Swap Contract” means (a) any and all rate swap transactions, basis swaps, credit derivative transactions, forward rate
transactions, commodity swaps, commodity options, forward commodity contracts, equity or equity index swaps or options, bond or bond price or bond index swaps or options or forward bond or forward bond price or forward bond index transactions,
interest rate options, forward foreign exchange transactions, cap transactions, floor transactions, collar transactions, currency swap transactions, cross-currency rate swap transactions, currency options, spot contracts, or any other similar
transactions or any combination of any of the foregoing (including any options to enter into any of the foregoing), whether or not any such transaction is governed by or subject to any master agreement, and (b) any and all transactions of any
kind, and the related confirmations, which are subject to the terms and conditions of, or governed by, any form of master agreement published by the International Swaps and Derivatives Association, Inc., any International Foreign Exchange Master
Agreement, or any similar master agreement (any such master agreement, together with any related schedules, a “Master Agreement”), including any such obligations or liabilities under any Master Agreement. 

  
 21 

 “Swap Termination Value” means, in respect of any one or more Swap Contracts,
after taking into account the effect of any legally enforceable netting agreement relating to such Swap Contracts, (a) for any date on or after the date such Swap Contracts have been closed out and termination value(s) determined in accordance
therewith, such termination value(s), and (b) for any date prior to the date referenced in clause (a), the amount(s) determined as the mark-to-market
value(s) for such Swap Contracts, as determined based upon one or more mid-market or other readily available quotations provided by any recognized dealer in such Swap Contracts (which may include a Lender or
any Affiliate of a Lender). 
 “Syndication Agents” means Goldman Sachs Bank USA and Morgan Stanley Senior Funding, Inc.

 “Synthetic Lease Obligation” means the monetary obligation of a Person under (a) a
so- called synthetic, off-balance sheet or tax retention lease, or (b) an agreement for the use or possession of real property creating obligations that do not
appear on the balance sheet of such Person but which, upon the insolvency or bankruptcy of such Person, would be characterized as the indebtedness of such Person (without regard to accounting treatment). 

“Taxes” means all present or future taxes, levies, imposts, duties, deductions, withholdings, assessments, fees or other
charges imposed by any Governmental Authority, including any interest, additions to tax or penalties applicable thereto. 

“Threshold Amount” means $200,000,000. 

“Total Outstandings” means the aggregate Outstanding Amount of each Lender. 

“Type” means, with respect to a Loan, its character as an ABR Loan or a Eurocurrency Rate Loan. 

“United States” and “U.S.” mean the United States of America. 

“U.S. Dollar” and “$” mean lawful money of the United States. 

“Withdrawal Liability” means any liability to a Multiemployer Plan as a result of a complete or partial withdrawal from such
Multiemployer Plan, as such terms are used in sections 4203 and 4205, respectively, of ERISA. 
 “Write-Down and Conversion
Powers” means, with respect to any EEA Resolution Authority, the write-down and conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable
EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule. 

1.02 Other Interpretive Provisions. With reference to this Agreement and each other Loan Document, unless otherwise specified herein or
in such other Loan Document: 
 (a) The definitions of terms herein shall apply equally to the singular and plural forms of the terms
defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include,” “includes” and “including” shall be deemed to be
followed by the phrase “without limitation.” The word “will” shall be construed to have the same meaning and effect as the word “shall.” The word “or” shall

  
 22 

 
not be exclusive. Unless the context requires otherwise, (i) any definition of or reference to any agreement, instrument or other document (including any Organization Document) shall be
construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such amendments, supplements or modifications set forth herein or in any other
Loan Document), (ii) any reference herein to any Person shall be construed to include such Person’s successors and assigns, and the definitions of “Affiliate” and “Subsidiary” shall include Persons who shall meet the terms
of such definitions, at any time, on and after the date hereof, (iii) the words “herein,” “hereof’ and “hereunder,” and words of similar import when used in any Loan Document, shall be
construed to refer to such Loan Document in its entirety and not to any particular provision thereof, (iv) all references in a Loan Document to Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, the Loan Document in which such references appear, (v) any reference to any law shall include all statutory and regulatory provisions consolidating, amending, replacing or interpreting such law and any reference
to any law or regulation shall, unless otherwise specified, refer to such law or regulation as amended, modified or supplemented from time to time, and (vi) the words “asset” and “property” shall be construed
to have the same meaning and effect and to refer to any and all tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 

(b) In the computation of periods of time from a specified date to a later specified date, the word “from” means
“from and including;” the words “to” and “until” each mean “to but excluding;” and the word “through” means “to and including.” 

(c) Section headings herein and in the other Loan Documents are included for convenience of reference only and shall not affect the
interpretation of this Agreement or any other Loan Document. 
 1.03 Accounting Terms. (a) Generally. All accounting
terms not specifically or completely defined herein shall be construed in conformity with, and all financial data (including financial ratios and other financial calculations) required to be submitted pursuant to this Agreement shall be prepared in
conformity with, GAAP applied on a consistent basis, as in effect from time to time, applied in a manner consistent with that used in preparing the Audited Financial Statements, except as otherwise specifically prescribed herein
(provided that all terms of an accounting or financial nature used herein shall be construed, and all computations of amounts and ratios referred to herein shall be made without giving effect to any election under Accounting Standards
Codification 825-10-25 (previously referred to as Statement of Financial Accounting Standards 159) (or any other Accounting Standards Codification or Financial
Accounting Standard having a similar result or effect) to value any Indebtedness or other liabilities of the Borrower or any Subsidiary at “fair value”, as defined therein). Notwithstanding anything to the contrary contained herein, the
obligations or liabilities of any Person to pay rent or other amounts under any lease of (or other arrangement conveying the right to use) real or personal property, or a combination thereof, which obligations would be required to be classified and
accounted for as an operating lease under GAAP as existing on the Closing Date that are recharacterized as capital leases due to a change in GAAP after the Closing Date shall not be treated as capital leases for any purpose under this Agreement, but
instead shall be accounted for as if they were operating leases for all purposes under this Agreement as determined under GAAP in effect on the Closing Date. 

  
 23 

 (b) Changes in GAAP. If at any time any change in GAAP would affect the computation of any
financial ratio or requirement set forth in any Loan Document, and either the Borrower or the Required Lenders shall so request, the Administrative Agent, the Lenders and the Borrower shall negotiate in good faith to amend such ratio or requirement
to preserve the original intent thereof in light of such change in GAAP (subject to the approval of the Required Lenders); provided that, until so amended, (i) such ratio or requirement shall continue to be computed in accordance with
GAAP prior to such change therein and (ii) the Borrower shall provide to the Administrative Agent and the Lenders financial statements and other documents required under this Agreement or as reasonably requested hereunder setting forth a
reconciliation between calculations of such ratio or requirement made before and after giving effect to such change in GAAP. 
 (c)
Consolidation of Variable Interest Entities. All references herein to consolidated financial statements of the Borrower and its Subsidiaries or to the determination of any amount for the Borrower and its Subsidiaries on a consolidated basis
or any similar reference shall, in each case, be deemed to include each variable interest entity that the Borrower is required to consolidate pursuant to Statement of Financial Accounting Standard No. 167 as if such variable interest entity
were a Subsidiary as defined herein. 
 1.04 Rounding. Any financial ratios required to be maintained by the Borrower pursuant to
this Agreement shall be calculated by dividing the appropriate component by the other component, carrying the result to one place more than the number of places by which such ratio is expressed herein and rounding the result up or down to the
nearest number (with a rounding-up if there is no nearest number). 
 1.05 Times of Day.
Unless otherwise specified, all references herein to times of day shall be references to Pacific time (daylight or standard, as applicable). 

ARTICLE II. 
 THE
COMMITMENTS AND CREDIT EXTENSIONS 
 2.01 Loans.  

(a) Subject to the terms and conditions set forth herein, each Lender severally agrees to make Loans in U.S. Dollars to the Borrower or a
Designated Borrower in up to three Borrowings, on any Business Day during the Availability Period, in an aggregate amount not to exceed the amount of such Lender’s Commitment. 

(b) Upon the occurrence of any Borrowing, the Aggregate Commitments shall be automatically and permanently reduced by the aggregate principal
amount of the Loans funded pursuant to such Borrowing, and the Commitment of each Lender shall be automatically and permanently reduced according to its Applicable Percentage. Additionally, the Aggregate Commitments will terminate in full after the
third Borrowing pursuant to this Section 2.01. 
 2.02 Borrowings, Conversions and Continuations of
Loans. 
 (a) Each Borrowing, each conversion of Loans from one Type to the other, and each continuation of Eurocurrency Rate
Loans shall be made upon the Borrower’s or a Designated 

  
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Borrower’s irrevocable notice to the Administrative Agent, which may be given by telephone. Each such notice must be received by the Administrative Agent not later than 12:00 noon New York
City time (i) three Business Days prior to the requested date of any Borrowing of, conversion to or continuation of Eurocurrency Rate Loans to ABR Loans and (ii) on the requested date of any Borrowing of or conversion to ABR Loans;
provided, however, that if the Borrower or such Designated Borrower wishes to request Eurocurrency Rate Loans having an Interest Period other than one, two, three or six months in duration as provided in the definition of
“Interest Period”, the applicable notice must be received by the Administrative Agent not later than 12:00 noon New York City time four Business Days prior to the requested date of such Borrowing, conversion or continuation, whereupon the
Administrative Agent shall give prompt notice to the Lenders of such request and determine whether the requested Interest Period is available to all of them. Not later than 12:00 noon New York City time, three Business Days before the requested date
of such Borrowing, conversion or continuation, the Administrative Agent shall notify the Borrower or the applicable Designated Borrower (which notice may be by telephone) whether or not the requested Interest Period has been consented to by all the
Lenders. Each telephonic notice by the Borrower or a Designated Borrower pursuant to this Section 2.02(a) must be confirmed promptly by delivery to the Administrative Agent of a written Committed Loan Notice, appropriately
completed and signed by a Responsible Officer of the Borrower or such Designated Borrower. Each Borrowing of, conversion to or continuation of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in
excess thereof, or if the remaining amount available under the Commitments is less than $5,000,000, in multiples of $1,000,000. Each Borrowing of or conversion to ABR Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof, or if the remaining amount available under the Commitments is less than $5,000,000, in multiples of $1,000,000. Each Committed Loan Notice (whether telephonic or written) shall specify (i) whether the Borrower or
the applicable Designated Borrower is requesting a Borrowing, a conversion of Loans from one Type to the other, or a continuation of Eurocurrency Rate Loans, (ii) the requested date of the Borrowing, conversion or continuation, as the case may
be (which shall be a Business Day), (iii) the principal amount of Loans to be borrowed, converted or continued, (iv) the Type of Loans to be borrowed or to which existing Loans are to be converted, and (v) if applicable, the duration of
the Interest Period with respect thereto. If the Borrower or the applicable Designated Borrower fails to specify a Type of Loan in a Committed Loan Notice or if the Borrower or such Designated Borrower fails to give a timely notice requesting a
conversion or continuation, then the applicable Loans shall be made as, or converted to, ABR Loans. Any such automatic conversion to ABR Loans shall be effective as of the last day of the Interest Period then in effect with respect to the applicable
Eurocurrency Rate Loans. If the Borrower or a Designated Borrower requests a Borrowing of, conversion to, or continuation of Eurocurrency Rate Loans in any such Committed Loan Notice, but fails to specify an Interest Period, it will be deemed to
have specified an Interest Period of one month. 
 (b) Following receipt of a Committed Loan Notice, the Administrative Agent shall promptly
notify each Lender of the amount of its Applicable Percentage of the applicable Loans, and if no timely notice of a conversion or continuation is provided by the Borrower or the applicable Designated Borrower, the Administrative Agent shall notify
each Lender of the details of any automatic conversion to ABR Loans described in the preceding subsection. In the case of a Borrowing, each Lender shall make the amount of its Loan available to the Administrative Agent in immediately available funds
at the Administrative Agent’s Office not later than 2:00 

  
 25 

 
p.m. New York City time on the Business Day specified in the applicable Committed Loan Notice. Upon satisfaction of the applicable conditions set forth in Section 4.02,
the Administrative Agent shall make all funds so received available to the Borrower or the applicable Designated Borrower, as applicable, or the applicable Designated Borrower, as applicable, in like funds as received by the Administrative Agent
either by (i) crediting the account of the Borrower or such Designated Borrower, as applicable, on the books of the Administrative Agent with the amount of such funds or (ii) wire transfer of such funds, in each case in accordance with
instructions provided to (and reasonably acceptable to) the Administrative Agent by the Borrower or such Designated Borrower. 
 (c) Except
as otherwise provided herein, a Eurocurrency Rate Loan may be continued or converted only on the last day of an Interest Period for such Eurocurrency Rate Loan. Notwithstanding any contrary provision hereof, if an Event of Default has occurred and
is continuing and the Administrative Agent, at the request of the Required Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no outstanding Loan may be converted to or continued as a Eurocurrency Rate
Loan and (ii) unless repaid, each Eurocurrency Rate Loan shall be converted to an ABR Loan at the end of the Interest Period applicable thereto. 

(d) The Administrative Agent shall promptly notify the Borrower or the applicable Designated Borrower, as applicable, and the Lenders of the
interest rate applicable to any Interest Period for Eurocurrency Rate Loans upon determination of such interest rate. At any time that ABR Loans are outstanding, the Administrative Agent shall notify the Borrower or the applicable Designated
Borrower, as applicable, and the Lenders of any change in the Prime Rate used in determining the ABR promptly following the public announcement of such change. 

(e) After giving effect to all Borrowings, all conversions of Loans from one Type to the other, and all continuations of Loans as the same
Type, there shall not be more than ten Interest Periods in effect with respect to Loans. 
 2.03 Prepayments. 

(a) Optional. The Borrower or a Designated Borrower may, upon notice to the Administrative Agent, at any time or from time to time
voluntarily prepay Loans in whole or in part without premium or penalty; provided that (i) such notice (including any conditional notice) must be received by the Administrative Agent not later than 12:00 noon Pacific Time (A) three
Business Days prior to any date of prepayment of Eurocurrency Rate Loans and (B) on the date of prepayment of ABR Loans; (ii) any prepayment of Eurocurrency Rate Loans shall be in a principal amount of $5,000,000 or a whole multiple of
$1,000,000 in excess thereof; and (iii) any prepayment of ABR Loans shall be in a principal amount of $5,000,000 or a whole multiple of $1,000,000 in excess thereof or, in each case, if less, the entire principal amount thereof then
outstanding. Each such notice shall specify the date and amount of such prepayment and the Type(s) of Loans to be prepaid and, if Eurocurrency Rate Loans are to be prepaid, the Interest Period(s) of such Loans. The Administrative Agent will promptly
notify each Lender of its receipt of each such notice, and of the amount of such Lender’s Applicable Percentage of such prepayment. If such notice is given by the Borrower or a Designated Borrower, the Borrower or such Designated Borrower, as
applicable, shall make such prepayment and the payment amount specified in such notice shall be due and payable on the date specified therein; provided that a 

  
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notice of prepayment delivered by the Borrower or a Designated Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities, any other Capital Market
Transaction or any other transaction, in which case such notice may be revoked by the Borrower or such Designated Borrower (by notice to the Administrative Agent on or prior to the specified effective date) if such condition is not satisfied. 

(b) Any prepayment of a Eurocurrency Rate Loan shall be accompanied by all accrued interest on the amount prepaid, together with any
additional amounts required pursuant to Section 3.05. Each prepayment shall be applied to the Loans of the Lenders in accordance with their respective Applicable Percentages. Amounts prepaid pursuant to this
Section 2.03 may not be reborrowed. 
 2.04 Termination or Reduction of Commitments. 

(a) The Borrower may, upon notice to the Administrative Agent, terminate the Aggregate Commitments, or from time to time permanently reduce the
Aggregate Commitments; provided that (i) any such notice shall be received by the Administrative Agent not later than 12:00 noon Pacific Time three Business Days prior to the date of termination or reduction, and (ii) any such
partial reduction shall be in an aggregate amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof. Notwithstanding anything to the contrary contained herein, a notice of termination of the Aggregate Commitments delivered by the
Borrower may state that such notice is conditioned upon the effectiveness of other credit facilities or any other transaction, in which case such notice may be revoked by the Borrower (by notice to the Administrative Agent on or prior to the
specified effective date) if such condition is not satisfied. The Administrative Agent will promptly notify the Lenders of any such notice of termination or reduction of the Aggregate Commitments. Any reduction of the Aggregate Commitments shall be
applied to the Commitment of each Lender according to its Applicable Percentage. All interest and fees accrued until the effective date of any termination of the Aggregate Commitments shall be paid on the effective date of such termination. Each
reduction of the Aggregate Commitments shall be made ratably among the Lenders in accordance with their respective Commitments. 
 (b) The
Aggregate Commitments shall automatically terminate on the Commitment Termination Date; provided that, upon the occurrence of an Early Maturity Event and to the extent that no Loans are outstanding (including following any payment required
under Section 2.05 (assuming such payment was made on the date such Early Maturity Event occurs)), a portion of the Aggregate Commitments equal to the Applicable Early Maturity Amount (less the amount of any payment
required to be made under Section 2.05 in respect of such Early Maturity Event) for such Early Maturity Event shall automatically terminate on the date such Early Maturity Event occurs. 

2.05 Repayment of Loans. Each of the Borrower and the Designated Borrowers shall repay to the Lenders on the Maturity Date the
aggregate principal amount of Loans outstanding to it on such date; provided that, upon the occurrence of an Early Maturity Event and to the extent any Loans are outstanding, all or a portion of the outstanding Loans equal to the Applicable
Early Maturity Amount related to such Early Maturity Event (or, if less, the aggregate then outstanding principal amount of Loans) shall be payable as a scheduled payment on the fifth Business Day following the occurrence of such Early Maturity
Event. 

  
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 2.06 Interest. 

(a) Subject to the provisions of subsection (b) below, (i) each Eurocurrency Rate Loan shall bear interest on the outstanding
principal amount thereof for each Interest Period at a rate per annum equal to the Eurocurrency Rate for such Interest Period plus the Applicable Rate; and (ii) each ABR Loan shall bear interest on the outstanding principal amount
thereof from the applicable borrowing date at a rate per annum equal to the ABR plus the Applicable Rate. 
 (b) If any amount of
principal of any Loan is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, such overdue amount shall thereafter bear interest at a fluctuating interest rate per annum at all
times equal to the Default Rate to the fullest extent permitted by applicable Laws. 
 (i) If any amount (other than principal of any Loan)
payable by the Borrower or a Designated Borrower under any Loan Document is not paid when due (without regard to any applicable grace periods), whether at stated maturity, by acceleration or otherwise, then upon the request of the Required Lenders,
such overdue amount shall thereafter bear interest at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(ii) While any Event of Default exists, each of the Borrower and the Designated Borrowers shall pay interest on the principal amount of all
outstanding Obligations owing by it hereunder at a fluctuating interest rate per annum at all times equal to the Default Rate to the fullest extent permitted by applicable Laws. 

(iii) Accrued and unpaid interest on past due amounts (including interest on past due interest) shall be due and payable upon demand. 

(c) Interest on each Loan shall be due and payable in arrears on each Interest Payment Date applicable thereto and at such other times as may
be specified herein. Interest hereunder shall be due and payable in accordance with the terms hereof before and after judgment, and before and after the commencement of any proceeding under any Debtor Relief Law. 

2.07 Fees. 
 (a)
Commitment Fee. The Borrower shall pay to the Administrative Agent, for the account of each Lender (other than any Defaulting Lender) in accordance with its Applicable Percentage, a commitment fee (the “Commitment Fee”),
which shall accrue at the Applicable Rate on the unused portion of the Aggregate Commitments at all times during the Availability Period, including at any time during which one or more of the conditions in Article IV is not met. The
Commitment Fee shall be due and payable quarterly in arrears on the last Business Day of each March and June, commencing with the first such date to occur after the Closing Date, and ending on the Commitment Termination Date. The Commitment Fee
shall be calculated quarterly in arrears, and if there is any change in the Applicable Rate during any quarter, the actual daily amount shall be computed and multiplied by the Applicable Rate separately for each period during such quarter that such
Applicable Rate was in effect. 

  
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 (b) Duration Fee. The Borrower shall pay to the Administrative Agent, for the
account of each Lender in accordance with its Applicable Percentage, a non-refundable duration fee (the “Duration Fee”) on each of April 6, 2018 and July 6, 2018 in an amount equal
to the product of (i) the applicable Duration Fee Rate and (ii) the Total Outstandings on such date. 
 (c) Other Fees.
(i) The Borrower agrees to pay to the Administrative Agent the fees in the amounts and on the dates as set forth in any fee agreements with the Administrative Agent and to perform any other obligations contained therein. Such fees shall be
fully earned when paid and shall not be refundable for any reason whatsoever. 
 (ii) The Borrower shall pay to the Lenders such fees as
shall have been separately agreed upon in writing in the amounts and at the times so specified. Such fees shall be fully earned when paid and shall not be refundable for any reason whatsoever. 

(d) Fees Generally. All fees payable hereunder shall be paid on the dates due, in U.S. Dollars, in immediately available funds, to the
Administrative Agent for distribution, in the case of Commitment Fees and Duration Fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

2.08 Computation of Interest and Fees. All computations of interest for ABR Loans when the ABR is determined by reference to the Prime
Rate shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed (including the first day but excluding the last day). All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (including the first day but excluding the last day) (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is repaid, provided that
any Loan that is repaid on the same day on which it is made shall, subject to Section 2.10(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be
conclusive and binding for all purposes, absent manifest error. Any change in the interest rate on a Loan resulting from a change in the ABR shall become effective as of the opening of business on the day on which such change becomes effective. The
Administrative Agent shall promptly notify the Borrower or the applicable Designated Borrower, as applicable, and the relevant Lenders of the effective date and the amount of each such change in interest rate. 

2.09 Evidence of Debt. The Loans made by each Lender shall be evidenced by one or more accounts or records maintained by such Lender
and by the Administrative Agent in the ordinary course of business. The accounts or records maintained by the Administrative Agent and each Lender shall be conclusive absent manifest error of the amount of the Loans made by the Lenders to the
Borrower or a Designated Borrower and the interest and payments thereon. Any failure to so record or any error in doing so shall not, however, limit or otherwise affect the obligation of any of the Borrower and the Designated Borrowers hereunder to
pay any amount owing by it with respect to the Obligations. In the event of any conflict between the accounts 

  
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and records maintained by any Lender and the accounts and records of the Administrative Agent in respect of such matters, the accounts and records of the Administrative Agent shall control in the
absence of manifest error. Upon the request of any Lender made through the Administrative Agent, each of the Borrower and the Designated Borrowers shall execute and deliver to such Lender (through the Administrative Agent) a Note, which shall
evidence such Lender’s Loans in addition to such accounts or records. Each Lender may attach schedules to its Note and endorse thereon the date, Type (if applicable), amount and maturity of its Loans and payments with respect thereto. 

2.10 Payments Generally; Administrative Agent’s Clawback. 

(a) General. All payments to be made by the Borrower or a Designated Borrower shall be made without condition or deduction for any
counterclaim, defense, recoupment or setoff. Except as otherwise expressly provided herein, all payments by each of the Borrower and the Designated Borrowers hereunder shall be made to the Administrative Agent, for the account of the respective
Lenders to which such payment is owed, at the Administrative Agent’s Office and in immediately available funds not later than 2:00 p.m. New York City time on the date specified herein. The Administrative Agent will promptly distribute to each
Lender its Applicable Percentage (or other applicable share as provided herein, including, in the case of prepayments of and interest on commitments, if the outstanding Loans are not ratable in proportion to the Applicable Percentages, to each
Lender ratable based on the amount owed to it) with respect to payments received in respect of the Commitments. All payments received by the Administrative Agent after 2:00 p.m. New York City time shall be deemed received on the next Business Day
and any applicable interest or fee shall continue to accrue. If any payment to be made by the Borrower or a Designated Borrower shall come due on a day other than a Business Day, payment shall be made on the next following Business Day, and such
extension of time shall be reflected in computing interest or fees, as the case may be. All payments hereunder and all other payments hereunder and under each other Loan Document shall be made in U.S. Dollars. 

(b) Funding by Lenders; Presumption by Administrative Agent. Unless the Administrative Agent shall have received notice from a Lender
prior to the proposed date of any Borrowing of Eurocurrency Rate Loans (or, in the case of any Borrowing of ABR Loans, prior to 2:00 p.m. New York City time on the date of such Borrowing) that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender has made such share available on such date in accordance with Section 2.02 (or, in the case of a
Borrowing of ABR Loans, that such Lender has made such share available in accordance with and at the time required by Section 2.02) and may, in reliance upon such assumption, make available to the Borrower or the applicable
Designated Borrower a corresponding amount. In such event, if a Lender has not in fact made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower or the applicable Designated
Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount in immediately available funds with interest thereon, for each day from and including the date such amount is made available to the Borrower or
such Designated Borrower to but excluding the date of payment to the Administrative Agent, at (A) in the case of a payment to be made by such Lender, the rate determined by the Administrative Agent in accordance with banking industry rules and

  
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conventions on interbank compensation, plus any administrative, processing or similar fees customarily charged by the Administrative Agent in connection with the foregoing, and (B) in the
case of a payment to be made by the Borrower or such Designated Borrower, the interest rate applicable to the applicable Loan or, if such payment is in U.S. Dollars, ABR Loans. If the Borrower or such Designated Borrower and such Lender shall pay
such interest to the Administrative Agent for the same or an overlapping period, the Administrative Agent shall promptly remit to the Borrower or such Designated Borrower the amount of such interest paid by it for such period. If such Lender pays
its share of the applicable Borrowing to the Administrative Agent, then the amount so paid shall constitute such Lender’s Loan included in such Borrowing. Any payment by the Borrower or such Designated Borrower shall be without prejudice to any
claim the Borrower or such Designated Borrower may have against a Lender that shall have failed to make such payment to the Administrative Agent. 

(c) Payments by Borrower or any Designated Borrower; Presumptions by Administrative Agent. Unless the Administrative Agent shall have
received notice from the Borrower or the applicable Designated Borrower, as applicable, prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower or such Designated Borrower
will not make such payment, the Administrative Agent may assume that the Borrower or such Designated Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount
due. In such event, if the Borrower or such Designated Borrower has not in fact made such payment, then each of the Lenders severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender in
immediately available funds with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a
rate determined by the Administrative Agent in accordance with banking industry rules and conventions on interbank compensation. Any payment by any Lender pursuant to this clause (i) shall be without prejudice to any claim such Lender or the
Administrative Agent may have against the Borrower or the applicable Designated Borrower, as applicable, for having failed to make such payment to the Administrative Agent. 

A notice of the Administrative Agent to any Lender, the Borrower or any Designated Borrower with respect to any amount owing under this
subsection (c) shall be conclusive, absent manifest error. 
 (d) Failure to Satisfy Conditions Precedent. If any Lender
makes available to the Administrative Agent funds for any Loan to be made by such Lender as provided in the foregoing provisions of this Article II, and such funds are not made available to the Borrower or the applicable Designated Borrower,
as applicable, by the Administrative Agent because the conditions to the applicable Borrowings set forth in Article IV are not satisfied or waived in accordance with the terms hereof, the Administrative Agent shall return such funds (in like
funds as received from such Lender) to such Lender within one Business Day, without interest. 
 (e) Obligations of Lenders Several.
The obligations of the Lenders hereunder to make Loans and to make payments pursuant to Section 11.04(c) are several and not joint. The failure of any Lender to make any Loan or to make any payment under
Section 11.04(c) on any date required hereunder shall not relieve any other Lender of its corresponding obligation to do so on such date, and no Lender shall be responsible for the failure of any other Lender to so make its
Loan, to purchase its participation or to make its payment under Section 11.04(c). 

  
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 (f) Funding Source. Nothing herein shall be deemed to obligate any Lender to obtain the
funds for any Loan in any particular place or manner or to constitute a representation by any Lender that it has obtained or will obtain the funds for any Loan in any particular place or manner. 

2.11 Sharing of Payments by Lenders. If any Lender shall, by exercising any right of setoff or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Loans made by it resulting in such Lender receiving payment of a proportion of the aggregate amount of such Loans and accrued interest thereon greater than its pro rata
share thereof as provided herein, then the Lender receiving such greater proportion shall (a) notify the Administrative Agent of such fact, and (b) purchase (for cash at face value) participations in the Loans, or make such other
adjustments as shall be equitable, so that the benefit of all such payments shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans and other amounts owing them,
provided that: (i) if any such participations or subparticipations are purchased and all or any portion of the payment giving rise thereto is recovered, such participations or subparticipations shall be rescinded and the purchase price
restored to the extent of such recovery, without interest; and (ii) the provisions of this Section shall not be construed to apply to (x) any payment made by any Loan Party pursuant to and in accordance with the express terms of this
Agreement or (y) any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant, other than to the Borrower or any Subsidiary thereof (as to which the
provisions of this Section shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring a participation pursuant to the foregoing arrangements may exercise
against each of the Borrower and the Designated Borrowers rights of setoff and counterclaim with respect to such participation as fully as if such Lender were a direct creditor of the Borrower or such Designated Borrower in the amount of such
participation. 
 2.12 Defaulting Lenders. Notwithstanding any provision of this Agreement to the contrary, if any Lender becomes a
Defaulting Lender, then the following provisions shall apply for so long as such Lender is a Defaulting Lender: 
 (a) fees shall cease to
accrue on the unfunded portion of the Commitment of such Defaulting Lender pursuant to Section 2.07(a); and 
 (b)
the Commitment and Outstanding Amount of such Defaulting Lender shall not be included in determining whether the Required Lenders have taken or may take any action hereunder (including any consent to any amendment, waiver or other modification
pursuant to Section 11.01); provided that this clause (b) shall not apply to the vote of a Defaulting Lender in the case of an amendment, waiver or other modification requiring the consent of such Lender
or each Lender affected thereby. 

  
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 In the event that the Administrative Agent and the Borrower agree that a Defaulting Lender has
adequately remedied all matters that caused such Lender to be a Defaulting Lender, then on such date such Lender shall purchase at par such of the Loans of the other Lenders as the Administrative Agent shall determine may be necessary in order for
such Lender to hold such Loans in accordance with its Applicable Percentage. 
 2.13 Judgment Currency. If, for the purposes of
obtaining judgment in any court, it is necessary to convert a sum due from the Borrower or a Designated Borrower hereunder in the currency expressed to be payable herein (the “specified currency”) into another currency, the parties
hereto agree, to the fullest extent that they may effectively do so, that the rate of exchange used shall be that at which the Administrative Agent could, in accordance with normal banking procedures applicable to arm’s length transactions,
purchase the specified currency with such other currency at the Administrative Agent’s main New York City office on the Business Day immediately preceding that on which final, non-appealable judgment is
given. The obligations of the Borrower or the applicable Designated Borrower in respect of any sum due to any Credit Party hereunder shall, notwithstanding any judgment in a currency other than the specified currency, be discharged only to the
extent that on the Business Day following receipt by such Credit Party of any sum adjudged to be so due in such other currency such Credit Party may in accordance with normal, reasonable banking procedures purchase the specified currency with such
other currency. If the amount of the specified currency so purchased is less than the sum originally due to such Credit Party in the specified currency, the Borrower or the applicable Designated Borrower, as applicable, agrees, to the fullest extent
that it may effectively do so, as a separate obligation and notwithstanding any such judgment, to indemnify such Credit Party against such loss, and if the amount of the specified currency so purchased exceeds (a) the sum originally due to any
Credit Party in the specified currency and (b) any amounts shared with other Lenders as a result of allocations of such excess as a disproportionate payment to such Lender under Section 2.11, such Credit Party agrees
to remit such excess to the Borrower or such Designated Borrower. 
 ARTICLE III. 

TAXES, YIELD PROTECTION AND ILLEGALITY 

3.01 Taxes. 
 (a)
Payments Free of Taxes. Any and all payments by or on account of any Loan Party hereunder or under any other Loan Document shall be made free and clear of and without reduction or withholding for any Taxes, except as required by applicable
law, provided that if any withholding agent shall be required by applicable law to deduct any Indemnified Taxes (including any Other Taxes) from such payments, then (i) the sum payable shall be increased as necessary so that after making
all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or Lender, as the case may be, receives an amount equal to the sum it would have received had no such deductions been
made, (ii) such withholding agent shall make such deductions and (iii) such withholding agent shall timely pay the full amount deducted to the relevant Governmental Authority in accordance with applicable law. 

(b) Payment of Other Taxes by any Loan Party. Without limiting the provisions of subsection (a) above, any Loan Party, as
applicable, shall timely pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

  
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 (c) Indemnification by the Loan Parties. The Loan Parties shall indemnify the
Administrative Agent and each Lender, within 30 days after demand therefor, for the full amount of any Indemnified Taxes or Other Taxes imposed on any payments made pursuant to any Loan Document or with respect to any Loan Document (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) paid by the Administrative Agent or such Lender, as the case may be, and any penalties, interest and reasonable expenses arising therefrom
or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided that no Loan Party shall be obligated to make a payment pursuant to
this Section 3.01 in respect of penalties and interest attributable to or included in any Indemnified Taxes or Other Taxes (and, for the avoidance of doubt, reasonable expenses arising therefrom or with respect thereto), if
(i) such penalties, interest or expenses are attributable to the failure of the Administrative Agent or any Lender to pay amounts paid to the Administrative Agent or any Lender by any Loan Party (for Indemnified Taxes or Other Taxes) to the
relevant Governmental Authority within thirty (30) calendar days after receipt of such payment from such Loan Party or (ii) such penalties, interest or expenses are attributable to the gross negligence or willful misconduct of the
Administrative Agent or any Lender. A certificate as to the amount of such payment or liability delivered to the Borrower or any Designated Borrower by a Lender (with a copy to the Administrative Agent), or by the Administrative Agent on its own
behalf or on behalf of a Lender, shall be conclusive absent manifest error. Any Loan Party shall have the rights specified in Section 11.13 in respect of any Lender for whose account any Loan Party makes any payment under
this Section 3.01. 
 (d) Evidence of Payments. As soon as practicable after any payment of Taxes pursuant
to this Section 3.01 by any Loan Party to a Governmental Authority, such Loan Party shall deliver to the Administrative Agent the original or a certified copy of a receipt issued by such Governmental Authority evidencing
such payment, a copy of the return reporting such payment or other evidence of such payment reasonably satisfactory to the Administrative Agent; provided that nothing in this Section 3.01(d) shall require such Loan Party to
make available its tax returns. 
 (e) Status of Lenders. 

(i) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax under the law of the jurisdiction in which any
Loan Party is resident for tax purposes, or any treaty to which such jurisdiction is a party, with respect to payments hereunder or under any other Loan Document shall deliver to such Loan Party (with a copy to the Administrative Agent), at the time
or times prescribed by applicable law or reasonably requested by such Loan Party or the Administrative Agent, such properly completed and executed documentation prescribed by applicable law as will permit such payments to be made without withholding
or at a reduced rate of withholding. In addition, any Lender, if requested by any Loan Party, or the Administrative Agent, shall deliver such other documentation prescribed by applicable law or reasonably requested by such Loan Party or the
Administrative Agent as will enable such Loan Party or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Without limiting the generality of the foregoing, in the
event that any Loan Party is resident for tax purposes in the United States, any Foreign Lender shall deliver to the Borrower and the Administrative Agent (in 

  
 34 

 
such number of copies as shall be reasonably requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the request of the Borrower or the Administrative Agent, but only if such Foreign Lender is legally entitled to do so), whichever of the following is applicable: (i) duly completed originals of IRS Form W-8BEN or W-8BEN-E claiming eligibility for benefits of an income tax treaty to which the United States is a party, (ii) duly
completed originals of IRS Form W-8ECI, (iii) in the case of a Foreign Lender claiming the benefits of the exemption for portfolio interest under section 881(c) of the Code, (x) a certificate
substantially in the form of Exhibit E to the effect that such Foreign Lender is not (A) a “bank” within the meaning of section 881(c)(3)(A) of the Code, (B) a “10 percent shareholder” of the Borrower within the
meaning of section 881(c)(3)(B) of the Code, or (C) a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code and (y) duly completed originals of IRS Form W-8BEN or W-8BEN-E or W-8IMY as appropriate, (iv) to the extent a Foreign Lender is not the beneficial owner, duly completed originals of
IRS Form W-8IMY, accompanied by the applicable IRS forms from each beneficial owner, and (v) any other form prescribed by applicable law as a basis for claiming exemption from or a reduction in United
States Federal withholding tax duly completed together with such supplementary documentation as may be prescribed by applicable law to permit any Loan Party to determine the withholding or deduction required to be made. Each Lender that is a
“U.S. person” as defined in Section 7701(a)(30) of the Code shall deliver to the Borrower and Administrative Agent duly complete originals of IRS Form W-9. Each Lender agrees that if any form or
certification it previously delivered expires or becomes obsolete or inaccurate in any respect, it shall promptly update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do
so. 
 (ii) If a payment made to a Lender under any Loan Document would be subject to U.S. Federal withholding Tax imposed by FATCA if such
Lender were to fail to comply with the applicable reporting requirements of FATCA (including those contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and the Administrative Agent at
the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent such documentation prescribed by applicable law (including as prescribed by Section 1471(b)(3)(C)(i) of the Code) and
such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for any Loan Party and the Administrative Agent to comply with their obligations under FATCA and to determine that such Lender has
complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely for purposes of this clause (ii), “FATCA” shall include any amendments made to FATCA after the date of
this Agreement. 
 (f) Treatment of Certain Refunds. If the Administrative Agent or any Lender has determined, in its sole discretion
exercised in good faith, that it has received a refund of any Taxes or Other Taxes as to which it has been indemnified by any Loan Party or with respect to which any Loan Party has paid additional amounts pursuant to this
Section 3.01, it shall promptly pay to such Loan Party, as applicable, an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by such Loan Party under this
Section 3.01 with respect to the Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the Administrative
Agent or such Lender, as the case maybe, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such 

  
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refund), provided that such Loan Party, upon the request of the Administrative Agent or such Lender, agrees to repay the amount paid over to it (plus any penalties, interest or other
charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. This subsection shall not be
construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential) to any Loan Party or any other Person. 

(g) Indemnification by Lenders. Each Lender shall severally indemnify the Administrative Agent for any Taxes (but, in the case of any
Indemnified Taxes, only to the extent that the Loan Parties have not already indemnified the Administrative Agent for such Indemnified Taxes and without limiting the obligation of the Loan Parties to do so) attributable to such Lender that are paid
or payable by the Administrative Agent in connection with any Loan Document and any reasonable expenses arising therefrom or with respect thereto, whether or not such Taxes were correctly or legally imposed or asserted by the relevant Governmental
Authority. The indemnity under this Section 3.01(g) shall be paid within 10 days after the Administrative Agent delivers to the applicable Lender a certificate stating the amount of Taxes so paid or payable by the
Administrative Agent. Such certificate shall be conclusive of the amount so paid or payable absent manifest error. Each Lender hereby authorizes the Administrative Agent to set off and apply any and all amounts at any time owing to such Lender under
any Loan Document or otherwise payable by the Administrative Agent to the Lender from any other source against any amount due to the Administrative Agent under this paragraph. 

3.02 Illegality. If any Lender reasonably determines that any Law has made it unlawful, or that any Governmental Authority has asserted
that it is unlawful, for any Lender or its applicable Lending Office to make, maintain or fund Eurocurrency Rate Loans, or to determine or charge interest rates based upon the Eurocurrency Rate, or any Governmental Authority has imposed material
restrictions on the authority of such Lender to purchase or sell, or to take deposits of, U.S. Dollars in the London interbank market, then, on notice thereof by such Lender to the Borrower through the Administrative Agent, any obligation of such
Lender to make or continue Eurocurrency Rate Loans or to convert ABR Loans to Eurocurrency Rate Loans shall be suspended until such Lender notifies the Administrative Agent and the Borrower that the circumstances giving rise to such determination no
longer exist. Upon receipt of such notice, the Borrower and each applicable Designated Borrower shall, upon demand from such Lender (with a copy to the Administrative Agent), prepay or, if applicable, convert all affected Eurocurrency Rate Loans of
such Lender to it to ABR Loans either on the last day of the Interest Period if such Lender may lawfully continue to maintain such Eurocurrency Rate Loans to such day, or immediately, if such Lender may not lawfully continue to maintain such
Eurocurrency Rate Loans. Upon any such prepayment or conversion, the Borrower shall also pay accrued interest on the amount so prepaid or converted. The Borrower shall have the rights in respect of any such Lender specified in
Section 11.13. 
 3.03 Inability to Determine Rates. If, prior to the commencement of any
Interest Period for a Eurocurrency Rate Loan, (a) the Administrative Agent determines (which determination shall be conclusive absent manifest error) that deposits in U.S. Dollars are not being offered to banks in the London interbank
eurocurrency market for the applicable amount and Interest Period of such Eurocurrency Rate Loan, (b) the Administrative Agent determines 

  
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(which determination shall be conclusive absent manifest error) that adequate and reasonable means (including, without limitation, by means of an Interpolated Rate or because the Eurocurrency
Screen Rate is not available or published on a current basis) do not exist for determining the Eurocurrency Rate or Adjusted Eurocurrency Rate, as applicable, for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan or
(c) the Administrative Agent is advised by the Required Lenders that the Eurocurrency Rate or Adjusted Eurocurrency Rate, as applicable, for any requested Interest Period with respect to a proposed Eurocurrency Rate Loan does not adequately and
fairly reflect the cost to such Lenders of funding such Loan, the Administrative Agent will promptly so notify the Borrower, each Designated Borrower and each Lender. Thereafter, the obligation of the Lenders to make or maintain Eurocurrency Rate
Loans shall be suspended until the Administrative Agent (upon the instruction of the Required Lenders) revokes such notice. Upon receipt of such notice, the Borrower and any applicable Designated Borrower may revoke any pending request for a
Borrowing of, conversion to or continuation of Eurocurrency Rate Loans or, failing that, any such Loans will be deemed to have converted such request into a request for a Borrowing of ABR Loans in the amount specified therein. 

If at any time the Administrative Agent determines (which determination shall be conclusive absent manifest error) that (i) the
circumstances set forth in clause (b) of the preceding paragraph have arisen and such circumstances are unlikely to be temporary or (ii) the circumstances set forth in clause (b) of the preceding paragraph have not arisen but the
supervisor for the administrator of the Eurocurrency Screen Rate or a Governmental Authority having jurisdiction over the Administrative Agent has made a public statement identifying a specific date after which the Eurocurrency Screen Rate shall no
longer be used for determining interest rates for loans, then the Administrative Agent and the Borrower shall endeavor to establish an alternate rate of interest to the Eurocurrency Rate that gives due consideration to the then prevailing market
convention for determining a rate of interest for syndicated loans in the United States at such time, and shall enter into an amendment to this Agreement to reflect such alternate rate of interest and such other related changes to this Agreement as
may be applicable (but for the avoidance of doubt, such related changes shall not include a reduction of the Applicable Rate). Notwithstanding anything to the contrary in Section 11.01, such amendment shall become effective
without any further action or consent of any other party to this Agreement so long as the Administrative Agent shall not have received, within five Business Days of the date notice of such alternate rate of interest is provided to the Lenders, a
written notice from the Required Lenders stating that such Required Lenders object to such amendment. Until an alternate rate of interest shall be determined in accordance with this paragraph (but, in the case of the circumstances described in
clause (ii) of the first sentence of this paragraph, only to the extent the Eurocurrency Screen Rate for the applicable Interest Period is not available or published at such time on a current basis), (x) any Committed Loan Notice that requests
the conversion of any Loan to, or continuation of any Loan as, a Eurocurrency Rate Loan shall be ineffective, and (y) if any Committed Loan Notice requests a Eurodollar Rate Loan, such Loan shall be made as an ABR Loan; provided that, if
such alternate rate of interest shall be less than zero, such rate shall be deemed to be zero for the purposes of this Agreement. 

  
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 3.04 Increased Costs; Reserves on Eurocurrency Rate Loans. 

(a) Increased Costs Generally. If any Change in Law shall (i) impose, modify or deem applicable any reserve, special deposit,
compulsory loan, insurance charge or similar requirement against assets of, deposits with or for the account of, or credit extended or participated in by, any Lender (except any reserve requirement contemplated by
Section 3.04(e); (ii) subject any Lender to any tax of any kind whatsoever with respect to this Agreement or any Eurocurrency Rate Loan made by it, or change the basis of taxation of payments to such Lender in respect
thereof (except for Indemnified Taxes or Other Taxes covered by Section 3.01 and the imposition of, or any change in the rate of, any Excluded Tax payable by such Lender); or (iii) impose on any Lender or the London
interbank market any other condition, cost or expense affecting this Agreement or Eurocurrency Rate Loans made by such Lender; and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any
Eurocurrency Rate Loan (or of maintaining its obligation to make any such Loan), or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or any other amount) then, upon request of such
Lender, the Borrower or the applicable Designated Borrower, as applicable, will pay to such Lender such additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered; provided that any such
amount or amounts shall not be duplicative of any amounts to the extent otherwise paid by the Borrower under any other provision of this Agreement. The Borrower and each applicable Designated Borrower shall have the rights specified in
Section 11.13 in respect of any Lender for whose account the Borrower or such Designated Borrower makes any payment under this Section 3.04. 

(b) Capital Requirements. If any Lender determines that any Change in Law affecting such Lender or any Lending Office of such Lender or
such Lender’s holding company, if any, regarding capital or liquidity requirements has or would have the effect of reducing the rate of return on such Lender’s capital or on the capital of such Lender’s holding company, if any, as a
consequence of this Agreement, the Commitments of such Lender or the Loans made by such Lender, to a level below that which such Lender or such Lender’s holding company could have achieved but for such Change in Law (taking into consideration
such Lender’s policies and the policies of such Lender’s holding company with respect to capital adequacy or liquidity), then from time to time the Borrower will pay to such Lender such additional amount or amounts as will compensate such
Lender or such Lender’s holding company for any such reduction suffered. 
 (c) Certificates for Reimbursement. A certificate of
a Lender setting forth in reasonable detail the amount or amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in subsection (a) or (b) of this Section and delivered to the Borrower
or a Designated Borrower shall be conclusive absent manifest error. Such Lender shall also certify that it is generally charging such costs to similarly situated customers of the applicable Lender under agreements having provisions similar to this
Section 3.04 after consideration of such factors as such Lender then reasonably determines to be relevant (which determination shall be made in good faith (and not on an arbitrary or capricious basis). The Borrower or the
applicable Designated Borrower, as applicable, shall pay such Lender the amount shown as due on any such certificate within 30 days after receipt thereof. 

  
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 (d) Delay in Requests. Failure or delay on the part of any Lender to demand compensation
pursuant to the foregoing provisions of this Section shall not constitute a waiver of such Lender’s right to demand such compensation, provided that neither the Borrower nor any Designated Borrower shall be required to compensate a
Lender pursuant to the foregoing provisions of this Section for any increased costs incurred or reductions suffered more than 180 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs
or reductions and of such Lender’s intention to claim compensation therefor (except that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the six-month period
referred to above shall be extended to include the period of retroactive effect thereof). 
 (e) Reserves on Eurocurrency Rate Loans.
Each of the Borrower and the applicable Designated Borrowers shall pay to each Lender, as long as such Lender shall be required to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency funds or deposits
(currently known as “Eurocurrency liabilities”), additional interest on the unpaid principal amount of each Eurocurrency Rate Loan made to it equal to the actual costs of such reserves allocated to such Loan by such Lender (as
determined by such Lender in good faith, which determination shall be conclusive), which shall be due and payable on each date on which interest is payable on such Loan, provided the Borrower or such Designated Borrower shall have received at
least 10 days’ prior notice (with a copy to the Administrative Agent) of such additional interest from such Lender. If a Lender fails to give notice 10 days prior to the relevant Interest Payment Date, such additional interest shall be due and
payable 10 days from receipt of such notice. 
 3.05 Compensation for Losses. Upon demand of any Lender (with a copy to the
Administrative Agent) from time to time, each of the Borrower and the applicable Designated Borrower shall promptly compensate such Lender for and hold such Lender harmless from any loss, cost or expense incurred by it as a result of: (a) any
continuation, conversion, payment or prepayment of any Loan made to it other than an ABR Loan on a day other than the last day of the Interest Period for such Loan (whether voluntary, mandatory, automatic, by reason of acceleration, or otherwise);
(b) any failure by it (for a reason other than the failure of such Lender to make a Loan) to prepay, borrow, continue or convert any Loan other than an ABR Loan on the date or in the amount notified by it; or (c) any assignment of a
Eurocurrency Rate Loan on a day other than the last day of the Interest Period therefor as a result of a request by it pursuant to Section 11.13; including any loss of anticipated profits and any loss or expense arising
from the liquidation or reemployment of funds obtained by it to maintain such Loan or from fees payable to terminate the deposits from which such funds were obtained. Each of the Borrower and the applicable Designated Borrowers shall also pay any
customary administrative fees charged by such Lender in connection with the foregoing. For purposes of calculating amounts payable by the Borrower or any Designated Borrower to the Lenders under this Section 3.05, each
Lender shall be deemed to have funded each Eurocurrency Rate Loan made by it at the Eurocurrency Rate for such Loan by a matching deposit or other borrowing in the London interbank eurocurrency market for a comparable amount and for a comparable
period, whether or not such Eurocurrency Rate Loan was in fact so funded. 
 3.06 Mitigation Obligations; Replacement of
Lenders. 
 (a) Designation of a Different Lending Office. If any Lender requests compensation under
Section 3.04, or the Borrower or a Designated Borrower is required to pay (or will be 

  
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required to pay) any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, or if any Lender gives a
notice pursuant to Section 3.02, then such Lender shall use reasonable efforts to designate a different Lending Office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the reasonable judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 3.01 or 3.04 as the case
may be, in the future, or eliminate the need for the notice pursuant to Section 3.02, as applicable, and (ii) in each case, would not subject such Lender to any unreimbursed cost or expense and would not otherwise be
disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in connection with any such designation or assignment. 

(b) Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the Borrower or a
Designated Borrower is required to pay (or will be required to pay) any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01, the Borrower may replace such
Lender in accordance with Section 11.13. 
 3.07 Survival. Each Loan Party’s obligations under this
Article III shall survive the termination of this Agreement, the termination of the Aggregate Commitments and repayment of all other Obligations hereunder. 

ARTICLE IV. 
 CONDITIONS
PRECEDENT 
 4.01 Conditions of Closing. The obligation of each Lender to make Loans hereunder shall not become effective, and
the Closing Date shall not occur, until the date on which each of the following conditions is satisfied: 
 (a) The Administrative
Agent’s receipt of the following: 
 (i) either (i) a counterpart of this Agreement signed on behalf of each party hereto or
(ii) written evidence satisfactory to the Administrative Agent (which may include telecopy or other electronic transmission of a signed signature page of this Agreement) that such party has signed a counterpart of this Agreement; 

(ii) a Note executed by the Borrower in favor of each Lender requesting a Note at least two Business Days prior to the Closing Date; 

(iii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of each of
the Borrower and the Subsidiary Guarantor as the Administrative Agent may require evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as a Responsible Officer in connection with this Agreement and
the other Loan Documents; 
 (iv) such documents and certifications as the Administrative Agent may reasonably require to evidence that each
of the Borrower and the Subsidiary Guarantor is duly organized, and that each of the Borrower and the Subsidiary Guarantor is validly existing and in good standing in the State of Delaware; 

  
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 (v) a favorable written opinion of Skadden, Arps, Slate, Meagher & Flom LLP, counsel to
the Borrower and the Subsidiary Guarantor, addressed to the Administrative Agent and each Lender and dated as of the Closing Date, covering such matters relating to the Borrower, the Subsidiary Guarantor, this Agreement or other matters incident to
the transactions contemplated by this Agreement as the Administrative Agent may reasonably require; 
 (vi) a certificate signed by a
Responsible Officer of the Borrower (on behalf of the Borrower) certifying that the conditions specified in Sections 4.02(a) and (b) have been satisfied; and 

(vii) such other assurances, certificates, documents, consents or opinions as the Administrative Agent or the Required Lenders reasonably may
require. 
 (b) Any fees required to be paid by the Borrower in connection with the Loan Documents on or before the Closing Date shall have
been paid. 
 (c) The Administrative Agent and the Lenders shall have received all documentation and other information as is reasonably
requested by the Administrative Agent or the Lenders about the Loan Parties and required by regulatory authorities under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act. 

Without limiting the generality of the provisions of Section 9.04, for purposes of determining compliance with the
conditions specified in this Section 4.01, each Lender that has signed this Agreement (and each such Lender’s Affiliates, successors and/or assigns) shall be deemed to have consented to, approved or accepted or to be
satisfied with, each document or other matter required thereunder to be consented to or approved by or acceptable or satisfactory to a Lender unless the Administrative Agent shall have received notice from such Lender prior to the proposed Closing
Date specifying its objection thereto. 
 4.02 Conditions to all Borrowings. The obligation of each Lender to
make a Loan on the occasion of any Borrowing is subject to the satisfaction of the following conditions precedent: 
 (a) The
representations and warranties of the Borrower contained in Article V (other than the representations and warranties contained in Sections 5.05(c), 5.06(b) and 5.12 for all Borrowings) or any other Loan Document that are
qualified by materiality shall be true and correct on and as of the date of such Borrowing, and the representations and warranties that are not qualified by materiality shall be true and correct in all material respects on and as of the date of such
Borrowing, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct in all material respects as of such earlier date (provided that such materiality
qualifier shall not be applicable to any representation or warranty that already is qualified or modified by materiality in the text thereof), and except that for purposes of this Section 4.02, the representations and
warranties contained in subsections (a) and (b) of Section 5.05 shall be deemed to refer to the most recent statements delivered pursuant to clauses (a) and (b), respectively, of
Section 6.01. 

  
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 (b) No Default shall exist, or would result from such proposed Borrowing or from the application
of the proceeds thereof. 
 (c) The Administrative Agent shall have received a Committed Loan Notice in accordance with the requirements
hereof. 
 Each Committed Loan Notice in respect of a Borrowing submitted by the Borrower shall be deemed to be a representation and
warranty that the conditions specified in this Section 4.02 have been satisfied on and as of the date of the applicable Borrowing. 

4.03 Conditions to Initial Borrowings by each Designated Borrower. The obligation of each Lender to make a Loan on the
occasion of any Borrowing to any Designated Borrower is subject to the satisfaction of the following conditions precedent prior to or concurrently with the making of such Loan on the Designated Borrower Closing Date applicable to such Designated
Borrower: 
 (a) The Borrower shall have given the Administrative Agent at least 15 Business Days’ prior notice of such Designated
Borrower Closing Date with reasonable details with respect thereto. 
 (b) The Administrative Agent shall have received (i) a Joinder
Agreement executed and delivered by the Borrower, the applicable Subsidiary and the Administrative Agent, providing for such Subsidiary to become a Designated Borrower, and (ii) a Note executed the Designated Borrower in favor of each Lender
requesting a Note at least two Business Days prior to the Designated Borrower Closing Date. 
 (c) The Administrative Agent shall have
received (i) a certificate of such Designated Borrower, dated such Designated Borrower Closing Date, substantially in the form of the certificates delivered by the Borrower on the Closing Date pursuant to
Section 4.01(iii) and (vi), mutatis mutandis, with appropriate insertions and attachments, including corporate or other applicable resolutions, other corporate or other applicable documents and certificates in
respect of such Designated Borrower substantially equivalent to comparable documents delivered on the Closing Date and (ii) such other documents with respect to such Designated Borrower as the Administrative Agent or the Required Lenders shall
reasonably request. 
 (d) The Administrative Agent shall have received a legal opinion from counsel to such Designated Borrower in form and
substance reasonably satisfactory to the Administrative Agent as to relevant matters covered generally in the opinions previously delivered pursuant to Section 4.01(v) hereof and to such other matters as are customary for initial extensions of
credit to a subsidiary borrower similar to the applicable Designated Borrower. 
 (e) After giving effect to any actions taken as
contemplated by the immediately following sentence and Section 3.01(a), no Protesting Lender (as defined below) shall be a Lender hereunder and no Notice of Objection (as defined below) shall be outstanding. Any Lender that has determined in
good faith that it would be subject in making Loans to such Designated Borrower to any withholding Tax or Other Taxes, any regulatory or legal limitation or restriction applicable thereto or any other material financial disadvantage arising out of
or attributable to the location or jurisdiction of organization of such Designated Borrower or the 

  
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nature of its activities (a “Protesting Lender”) shall so notify the Borrower and the Administrative Agent in writing (such notice, the “Notice of Objection”)
prior to the Designated Borrower Closing Date, and with respect to each Protesting Lender that has not withdrawn such Notice of Objection, the Borrower shall, effective on or before the Designated Borrower Closing Date replace such Protesting Lender
in accordance with Section 11.13. 
 (f) The Administrative Agent and the Lenders shall have received all documentation and other
information reasonably requested by the Lenders or the Administrative Agent under applicable “know your customer” and anti-money laundering rules and regulations, including the Patriot Act. 

ARTICLE V. 

REPRESENTATIONS AND WARRANTIES 

Each of the Borrower, the Subsidiary Guarantor and each Designated Borrower represents and warrants to the Administrative Agent and the
Lenders that: 
 5.01 Existence, Qualification and Power. Each of the Borrower, the Subsidiary Guarantor and each Designated Borrower
(a) is duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation and (b) has all requisite power and authority and all requisite governmental licenses, authorizations, consents and
approvals to execute, deliver and perform its obligations under the Loan Documents. 
 5.02 Authorization; No Contravention. The
execution, delivery and performance by the Borrower, the Subsidiary Guarantor and each Designated Borrower of each Loan Document to which such Person is party, have been duly authorized by all necessary corporate action, and do not and will not
contravene (a) the terms of any of the Borrower’s, the Subsidiary Guarantor’s or any Designated Borrower’s Organizational Documents or (b) any Law or any material contractual restriction binding on or affecting it, except,
in each case referred to in clause (b), to the extent such contravention could not, in the aggregate, reasonably be expected to have a Material Adverse Effect. 

5.03 Governmental Authorization; Other Consents. No approval, consent, exemption, authorization, or other action by, or notice to, or
filing with, any Governmental Authority or any other Person is necessary or required in connection with the execution, delivery or performance by, or enforcement against, the Borrower, the Subsidiary Guarantor or any Designated Borrower of this
Agreement or any other Loan Document other than any reports required to be filed by the Borrower with the SEC pursuant to the Exchange Act or except where the failure to obtain such approval, consent, exemption or authorization or have such other
action, notice or filing be made could not reasonably be expected to result, individually or in the aggregate, in a Material Adverse Effect. 

5.04 Binding Effect. This Agreement has been, and each other Loan Document, when delivered hereunder, will have been, duly executed and
delivered by the Borrower, the Subsidiary Guarantor and each Designated Borrower. This Agreement constitutes, and each other Loan Document when so delivered will constitute, a legal, valid and binding obligation of the Borrower, the Subsidiary
Guarantor and each Designated Borrower, enforceable against the 

  
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Borrower, the Subsidiary Guarantor and each Designated Borrower in accordance with its terms, subject to the effect of applicable bankruptcy, insolvency, arrangement, moratorium and other similar
laws affecting creditors’ rights generally and to the application of general principles of equity (regardless of whether enforcement is sought in a proceeding in equity or at law) and an implied covenant of good faith and fair dealing. 

5.05 Financial Statements; No Material Adverse Effect. 

(a) The Audited Financial Statements (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby,
except as otherwise expressly noted therein; and (ii) fairly present in all material respects the financial condition of the Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby in
accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein. 
 (b) The
unaudited consolidated balance sheet of the Borrower and its Subsidiaries dated September 30, 2017, and the related consolidated statements of income or operations, Stockholders’ Equity and cash flows for the fiscal quarter ended on that
date (i) were prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and (ii) fairly present in all material respects the financial condition of the
Borrower and its Subsidiaries as of the date thereof and their results of operations for the period covered thereby, subject, in the case of clauses (i) and (ii), to the absence of footnotes and to normal year-end audit adjustments. 
 (c) Since December 31, 2016, subject to the SEC Reports, there has
been no event or circumstance, either individually or in the aggregate, that has had or could reasonably be expected to have a Material Adverse Effect. 

5.06 Litigation. There are no actions, suits, proceedings, claims or disputes pending or, to the knowledge of the Borrower, threatened
in writing, at law, in equity, in arbitration or before any Governmental Authority, by or against the Borrower or any of its Subsidiaries or against any of their properties or revenues that (a) challenge the validity or enforceability of this
Agreement, or (b) except as disclosed in the SEC Reports, either individually or in the aggregate could reasonably be expected to have a Material Adverse Effect. 

5.07 Ownership of Property. Each of the Borrower and each Subsidiary has good record and marketable title in fee simple to, or valid
leasehold interests in, all real property necessary or used in the ordinary conduct of its business, except for such defects in title, or failure to have such interest, as could not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect. 
 5.08 Taxes. As of the Closing Date, the Borrower and its Subsidiaries have paid all Taxes required to be
paid and that are, in the aggregate, material to the Borrower and its Subsidiaries as a group, except: (i) Taxes being contested in good faith by appropriate proceedings diligently conducted; and (ii) to the extent that any failure to pay
such Taxes could not reasonably be expected to result in a Material Adverse Effect. 

  
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 5.09 ERISA Compliance; Foreign Plans. Except as has not resulted or could not
reasonably be expected to result in a Material Adverse Effect (i) each Plan is in compliance with all material provisions of ERISA, the Code and other Federal or state Laws and each Foreign Plan is in compliance with all material provisions of
the Laws applicable to such Foreign Plan, (ii) there are no claims, actions or lawsuits, or action by any Governmental Authority with respect to any Plan or Foreign Plan pending or, to the knowledge of the Borrower, threatened and (iii) no
ERISA Event or Foreign Plan Event has occurred or is reasonably expected to occur. 
 5.10 Margin Regulations; Investment Company
Act. 
 (a) No part of the proceeds of any Loans will be used by the Borrower or any Designated Borrower for any purpose that violates
the provisions of the Regulations T, U and X of the FRB. 
 (b) None of the Borrower, the Subsidiary Guarantor or any Designated Borrower is
required to be registered as an “investment company” under the Investment Company Act of 1940. 
 5.11 Disclosure.
No report, financial statement, certificate or other written information furnished by or on behalf of the Borrower to the Administrative Agent or any Lender prior to the Closing Date in connection with the transactions contemplated hereby and the
negotiation of this Agreement (in each case, as modified or supplemented by other information so furnished or by the SEC Reports) contains any material misstatement of fact, and no such document, when considered collectively with all other such
documents and the SEC Reports, omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not materially misleading; provided that, with respect to projected
financial information, the Borrower represents only that such information was prepared in good faith based upon assumptions believed by the Borrower to be reasonable at the time furnished by the Borrower to the Administrative Agent or such Lender
(it being understood that any such projected financial information is subject to significant uncertainties and contingencies, that no assurance can be given that any particular projection will be realized and that actual results during the period or
periods covered by any such projected financial information may differ materially from the projected results). 
 5.12 Intellectual
Property; Licenses, Etc. The Borrower and its Subsidiaries own or possess the right to (through express agreement or implied right), all of the trademarks, service marks, trade names, copyrights, patents, patent rights, franchises, licenses,
domain names, trade secrets, know-how and other intellectual property rights (collectively, “IP Rights”) that are possessed by it or which are used in the operation of their respective
businesses, except as (i) specified in the SEC Reports and (ii) where the failure to own or possess the right to use any such IP Right or where any such conflict would not reasonably be expected to have a Material Adverse Effect. To the
Actual Knowledge of the Borrower, no slogan, trademark, service mark or trade name now employed, or now contemplated to be employed by the Borrower or any Subsidiary, nor the conduct of their businesses, infringes upon any IP Rights held by any
other Person, except (i) as specified in the SEC Reports and (ii) where such infringement would not reasonably be expected to have a Material Adverse Effect. Except as specified in the SEC Reports, no written claim or litigation regarding
any of the foregoing in this Section 5.12 is pending or, to the knowledge of the Borrower, threatened in writing, which, either individually or in the aggregate, could reasonably be expected to have a Material Adverse
Effect. 

  
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 5.13 Anti-Corruption Laws and Sanctions. The Borrower has implemented and maintains in
effect policies and procedures reasonably designed to achieve compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents with Anti-Corruption Laws and applicable Sanctions, and the Borrower, its
Subsidiaries and their respective officers and employees and to the knowledge of the Borrower its directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions in all material respects. None of (a) the Borrower, any
Subsidiary or any of their respective directors, officers or employees, or (b) to the knowledge of the Borrower, any agent of the Borrower or any Subsidiary that will act in any capacity in connection with or benefit from the credit facility
established hereby, is a Sanctioned Person. No Borrowing or use of proceeds or other transaction contemplated by this Agreement will violate any Anti-Corruption Law or applicable Sanctions.

 5.14 EEA Financial Institutions. No Loan Party is an EEA Financial Institution. 

ARTICLE VI. 
 AFFIRMATIVE
COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation (other than inchoate indemnity
obligations) hereunder shall remain unpaid or unsatisfied: 
 6.01 Financial Statements. The Borrower shall deliver to the
Administrative Agent (for distribution to each Lender): 
 (a) within 90 days after the end of each fiscal year of the Borrower, a
consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, Stockholders’ Equity and cash flows for such fiscal year, setting forth in each
case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP; audited and accompanied by a report and opinion of Pricewaterhouse Coopers LLP or other Registered Public Accounting
Firm of nationally recognized standing, which report and opinion shall be prepared in accordance with generally accepted auditing standards and applicable Securities Laws and shall not be subject to any “going concern” or like
qualification or exception or any, qualification or exception as to the scope of such audit (other than any qualification or exception related to (i) an upcoming maturity date in respect of any Indebtedness or (ii) any potential inability
to satisfy any financial maintenance covenant on a future date in a future period); and 
 (b) within 45 days after the end of each of the
first three fiscal quarters of each fiscal year of the Borrower, a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal quarter, and the related consolidated statements of income or operations,
Stockholders’ Equity and cash flows for such fiscal quarter and for the portion of the, Borrower’s fiscal year then ended, setting forth in each case in comparative form the figures for the corresponding fiscal quarter of the previous
fiscal year and the corresponding portion of the 

  
 46 

 
previous fiscal year, all in reasonable detail, certified by the chief executive officer, chief financial officer, treasurer, chief accounting officer or controller of the Borrower as fairly
presenting in all material respects the financial condition, results of operations, Stockholders’ Equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP, subject only to normal
year-end audit adjustments and the absence of footnotes. 
 6.02 Certificates; Other
Information. The Borrower shall deliver to the Administrative Agent (for distribution to each Lender): 
 (a) concurrently with the
delivery of the financial statements referred to in Sections 6.01(a) and (b), a duly completed Compliance Certificate signed by the chief executive officer, chief accounting officer, chief financial officer, treasurer or controller of
the Borrower; 
 (b) promptly, such additional information regarding the business, financial or corporate affairs of the Borrower or any
Subsidiary (including any Designated Borrower), or compliance with the terms of the Loan Documents, as the Administrative Agent or any Lender (through the Administrative Agent) may from time to time reasonably request in connection with this
Agreement; and 
 (c) promptly after Moody’s, S&P or Fitch shall have announced a change in the Index Debt Rating, or if any such
rating agency shall cease to have an Index Debt Rating, written notice of such rating change or cessation. 
 Notwithstanding the foregoing,
the information required to be delivered pursuant to Section 6.01(a) or (b) shall be deemed to have been delivered on the date on which such information has been posted on the Internet at www.sec.gov or such
other website previously notified by the Borrower to the Administrative Agent to which each Lender and the Administrative Agent have access (whether a commercial, third-party website or whether sponsored by the Administrative Agent). 

6.03 Notices. Promptly after the Borrower’s obtaining Actual Knowledge thereof, the Borrower shall notify the Administrative
Agent: 
 (a) of the occurrence of any Default; 

(b) of any matter, including litigation, that has resulted or could reasonably be expected to result in a Material Adverse Effect; and 

(c) of the occurrence of any ERISA Event or Foreign Plan Event that, when taken together with all other ERISA Events or Foreign Plan Events
that have occurred or are reasonably expected to occur, has resulted in or could reasonably be expected to result in a Material Adverse Effect. 
 Each
notice pursuant to this Section 6.03 shall be accompanied by a statement of a Responsible Officer of the Borrower (on behalf of the Borrower) setting forth details of the occurrence referred to therein and stating what
action the Borrower has taken and proposes to take with respect thereto. 

  
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 6.04 Payment of Taxes. Except where the failure to do so could not reasonably be
expected to have a Material Adverse Effect, the Borrower shall, and shall cause each of its Subsidiaries to, pay and discharge as the same shall become due and payable, all tax liabilities, assessments and governmental charges or levies upon it or
its properties or assets that collectively are material to the Borrower and its Subsidiaries, taken as a whole, unless the same are being contested in good faith by appropriate proceedings diligently conducted and adequate reserves in accordance
with GAAP (to the extent required thereby) are being maintained by the Borrower or such Subsidiary. 
 6.05 Preservation of Existence,
Etc. The Borrower shall, and shall cause each of its Significant Subsidiaries to, (a) preserve, renew and maintain in full force and effect its legal existence, except in a transaction permitted by Section 7.02,
and except (other than with respect to the maintenance of the existence of each Designated Borrower and the Subsidiary Guarantor) that no Subsidiary shall be required to preserve, renew and maintain its legal existence, if the Borrower or such
Subsidiary shall determine that the loss thereof could not be reasonably expected to have a Material Adverse Effect; (b) take all reasonable action to maintain all rights, privileges, permits, licenses and franchises necessary or desirable in
the normal conduct of its business, except to the extent that failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) take all reasonable action to maintain the United States registrations (to the extent
permitted under applicable law) of all of its registered and validly issued IP Rights, except to the extent that the failure to do so could not reasonably be expected to have a Material Adverse Effect; provided that the foregoing shall not
prohibit any merger, consolidation, liquidation or dissolution, or any of the other transactions permitted under Section 7.02. 

6.06 Maintenance of Properties. The Borrower shall, and shall cause each of its Subsidiaries to, maintain, preserve and protect all of
its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted, except where the failure to do so could not reasonably be expected to have a Material Adverse
Effect. 
 6.07 Maintenance of Insurance. Except where the failure to do so could not reasonably be expected to have a Material
Adverse Effect, the Borrower shall (a) maintain with financially sound and reputable insurance companies insurance with respect to its properties and business against loss or damage of the kinds customarily insured against by Persons engaged in
the same or similar businesses, of such types and in such amounts as are customarily carried under similar circumstances by such other Persons, and/or (b) retain risk through a self insurance mechanism or by agreement with an Affiliate or
externally regulated vehicle for funding loss normally provided through insurance coverage carried by companies engaged in the same or similar businesses and owning similar properties. 

6.08 Compliance with Laws. The Borrower shall, and shall cause each of its Subsidiaries to, (a) comply in all material
respects with the requirements of all Laws and all orders, writs, injunctions and decrees applicable to it or to its business or property, except in such instances in which (i) such requirement of Law or order, writ, injunction or decree is
being contested in good faith by appropriate proceedings diligently conducted; or (ii) the failure to comply therewith could not reasonably be expected to have a Material Adverse Effect and (b) 

  
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maintain in effect and enforce policies and procedures reasonably designed to achieve compliance by the Borrower, its Subsidiaries and their respective directors, officers, employees and agents
with Anti-Corruption Laws and applicable Sanctions in all material respects. 
 6.09 Books and Records. The Borrower shall, and shall
cause each of its Significant Subsidiaries to, maintain proper books of record and account that permit the preparation of consolidated financial statements of the Borrower materially in accordance with GAAP. 

6.10 Use of Proceeds. The Borrower shall use the proceeds of the Borrowings to repurchase outstanding equity securities from its
stockholders, to repay intercompany indebtedness and for general corporate purposes. 
 6.11 Ownership of Designated Borrowers and the
Subsidiary Guarantor. The Borrower shall own, directly or indirectly, all of the capital stock of each Designated Borrower and the Subsidiary Guarantor. 

ARTICLE VII. 
 NEGATIVE
COVENANTS 
 So long as any Lender shall have any Commitment hereunder, any Loan or other Obligation (other than inchoate indemnity
obligations) hereunder shall remain unpaid or unsatisfied: 
 7.01 Liens. The Borrower shall not, and shall not permit any of its
Subsidiaries to, create, incur, assume or suffer to exist any Lien upon any of its property, assets or revenues, whether now owned or hereafter acquired, other than the following: 

(a) Liens pursuant to any Loan Document; 

(b) Liens existing on the date hereof and listed on Schedule 7.01 hereto and any replacements, renewals or extensions thereof,
provided that (i) the property covered thereby is not changed, (ii) the amount of the obligations secured or benefited thereby is not increased at the time of such replacement, renewal or extension except by an amount equal to a
reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such replacement, renewal or extension, and (iii) the direct or any contingent obligor with respect thereto is not changed; 

(c) Liens for taxes, fees, assessments or other governmental charges, levies or claims not yet due or which are not delinquent beyond any
period of grace or remain payable without penalty or which are being contested in good faith and by appropriate proceedings diligently conducted, if adequate reserves with respect thereto are maintained on the books of the applicable Person in
accordance with GAAP (to the extent required thereby); 
 (d) carriers’, warehousemen’s, mechanics’, materialmen’s,
repairmen’s, landlord’s, supplier’s or other like Liens arising in the ordinary course of business; 

  
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 (e) pledges or deposits in the ordinary course of business in connection with workers’
compensation, unemployment insurance and other social security legislation, other than any Lien imposed by ERISA; 
 (f) deposits to secure
the performance of bids, trade contracts and leases (other than Indebtedness), statutory or regulatory obligations, surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business; 

(g) easements, rights-of-way, restrictions and other similar
encumbrances affecting real property which do not in any case materially detract from the value of the property subject thereto or materially interfere with the ordinary conduct of the business of the applicable Person; 

(h) Liens securing Indebtedness in respect of capital leases, Synthetic Lease Obligations, purchase money obligations and other obligations
(other than obligations in respect of Sale Lease-Back Transactions), the proceeds of which are used to acquire or construct fixed or capital assets or improvements with respect thereto or any refinancings, refundings, renewals, amendments or
extensions thereof; provided that the amount of such Indebtedness is not increased at the time of such refinancing, refunding, renewal, amendment or extension except by an amount equal to a reasonable premium or other reasonable amount paid,
and fees and expenses reasonably incurred, in connection with such refinancing, refunding, renewal, amendment or extension, and provided further that such Liens do not at any time encumber any property other than the property financed
by such Indebtedness; 
 (i) Liens existing on any real property or other specific tangible assets prior to the acquisition thereof by the
Borrower or existing on any such property or asset of any Person that becomes a Subsidiary, provided that (i) such Lien is not created solely in contemplation of such acquisition or such Person becoming a Subsidiary, as the case may be;
(ii) such Lien shall not apply to any other property or assets of the Borrower or any other Subsidiary; and (iii) any such Lien does not by its terms secure any Indebtedness other than Indebtedness existing immediately prior to the time of
such acquisition or such Person becoming a Subsidiary, as the case may be; and any replacements, renewals or extensions thereof, provided that (i) the property covered thereby is not changed, (ii) the amount of the obligations
secured or benefited thereby is not increased at the time of such replacement, renewal or extension except by an amount equal to a reasonable premium or other reasonable amount paid, and fees and expenses reasonably incurred, in connection with such
replacement, renewal or extension, and (iii) the direct or any contingent obligor with respect thereto is not changed; 
 (j) Liens
securing judgments for the payment of money not constituting an Event of Default under Section 8.01(g); 
 (k)
Liens arising by virtue of any contractual, statutory or common law provision relating to banker’s liens, rights of set-off or similar rights and remedies as to deposit accounts, other funds maintained
with a creditor depository institution, or investment or securities accounts; provided that (i) such account is not a dedicated cash collateral account and is not subject to restrictions against access by the Borrower or the relevant
Subsidiary in excess of those set forth by the regulations promulgated by the FRB, and (ii) such account is not intended by the Borrower or any of its Subsidiaries to provide collateral to the depository institution with respect to otherwise
unrelated obligations of the Borrower or any such Subsidiary to such depository institution; 

  
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 (l) Liens arising under repurchase agreements, reverse repurchase agreements, securities lending
and borrowing agreements and similar transactions; 
 (m) (i) Liens arising under master netting agreements and other Swap Contracts to
hedge exposure to currency and interest rate risks entered into in the ordinary course of business and not for speculative purposes and (ii) Liens securing obligations in respect of cash pooling and notional pooling arrangements and overdraft
facilities in the ordinary course of business; 
 (n) Liens arising from precautionary filings in respect of (i) operating leases and
(ii) credit and cash management programs between third parties and customers of the Borrower or customers of any Subsidiary of the Borrower under which the Borrower or such Subsidiary does not have any Indebtedness; 

(o) Liens arising from leases, licenses, subleases or sublicenses granted to others in the ordinary course of business which (i) would
not reasonably be expected to have a Material Adverse Effect and (ii) do not secure any Indebtedness; 
 (p) any interest or title of a
lessor in the property (and the proceeds, accession or products thereof) subject to any operating lease, and Liens arising from Uniform Commercial Code financing statements (or equivalent filings, registrations or agreements in foreign
jurisdictions) relating to true leases or leases permitted hereunder; 
 (q) Liens to secure intercompany Indebtedness among the Borrower
and its Subsidiaries and between Subsidiaries of the Borrower, in each case in the ordinary course of business; 
 (r) Liens arising in
connection with any Securitization, provided that such Liens do not encumber any assets other than the receivables or other assets being financed, the property securing or otherwise relating to such receivables or other assets, and the
proceeds thereof; 
 (s) Liens solely on deposits, advances, contractual payments, including implementation allowances or escrows to or with
landlords, customers or clients or in connection with insurance arrangement in the ordinary course of business; 
 (t) Liens encumbering
property or assets under construction (and proceeds or products thereof) arising from progress or partial payments by a customer of the Borrower or its Subsidiaries relating to such property or assets; 

(u) Liens arising in connection with any Sale Lease-Back Transaction, provided that (i) such Sale Lease-Back Transaction involves
a lease for a term of not more than three years, (ii) such Sale Lease-Back Transaction is between the Borrower and one of its Subsidiaries, or between any of its Subsidiaries or (iii) the Borrower or any of its Subsidiaries applies an
amount equal to the net proceeds of such Sale Lease-Back Transaction within 365 days after such Sale Lease-Back Transaction to any of (or a combination of) (A) the prepayment or retirement of bonds, notes, debentures or similar instruments or
Indebtedness of the Borrower or a Subsidiary 

  
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of the Borrower that by its terms matures more than 12 months after its creation or (B) the purchase, construction, development, expansion or improvement of properties or facilities that are
used in or useful to the business of the Borrower or any of its Subsidiaries; and 
 (v) other Liens to secure Indebtedness or other
obligations (including Liens arising in connection with any Sale Lease-Back Transaction not permitted by Section 7.01(u)) other than those described above in this Section 7.01, provided that
the aggregate outstanding amount of the Indebtedness and other obligations secured by such Liens permitted by this subsection (v) shall not, at the time of incurrence thereof, exceed an amount equal to the greater of (x) $500,000,000 and
(y) 12.5% of Consolidated Net Tangible Assets of the Borrower. 
 7.02 Fundamental Changes. The Borrower, the Subsidiary Guarantor
and each Designated Borrower shall not: merge, dissolve, liquidate or consolidate with or into another Person, or Dispose of (whether in one transaction or in a series of transactions) all or substantially all of the assets of the Borrower and its
Subsidiaries (whether now owned or hereafter acquired), taken as a whole, to or in favor of any Person; provided, however, that, if at the time thereof and immediately after giving effect thereto no Event of Default shall have occurred
and be continuing, (i) any Person may merge with or into or consolidate with the Borrower, the Subsidiary Guarantor or a Designated Borrower, if (A) any of the Borrower, the Subsidiary Guarantor or a Designated Borrower is the surviving
Person or (B) if the Borrower, the Subsidiary Guarantor or the applicable Designated Borrower, as the case may be, is not the surviving Person, (x) all Obligations of the Borrower, the Subsidiary Guarantor or the applicable Designated
Borrower, as the case may be, shall have been assumed by the surviving Person by operation of Law or through assumption documents satisfactory to the Administrative Agent and (y) the surviving Person shall be organized under the laws of any
jurisdiction within the United States, and (ii) the Borrower, the Subsidiary Guarantor or a Designated Borrower may (A) merge into any of its Subsidiaries for the purpose of effecting a change in its state of incorporation (if all
Obligations shall have been assumed by such Subsidiary by operation of Law or through assumption documents satisfactory to the Administrative Agent), and (B) reincorporate in any other jurisdiction in the United States, but must in each case
promptly notify the Administrative Agent thereof. 
 7.03 Use of Proceeds. 

(a) The Borrower or any Designated Borrower shall not use the proceeds of any Borrowing, whether directly or indirectly, and whether
immediately, incidentally or ultimately, to purchase or carry margin stock (within the meaning of Regulation U of the FRB) or to extend credit to others for the purpose of purchasing or carrying margin stock or to refund indebtedness originally
incurred for such purpose, in each case in violation of, or for a purpose which violates, or would be inconsistent with, Regulation T, U or X of the FRB. 

(b) The Borrower or any Designated Borrower will not request any Borrowing, and the Borrower or any Designated Borrower shall not use,
directly or, to its knowledge, indirectly, the proceeds of any Borrowing (i) in furtherance of an offer, payment, promise to pay, or authorization of the payment or giving of money, or anything else of value, to any Person by the Borrower or
any Designated Borrower in violation of any Anti-Corruption Laws or (ii) for the purpose of directly or, to its knowledge, indirectly, funding, financing or facilitating any 

  
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activities, business or transaction by the Borrower or any Designated Borrower with any Sanctioned Person, or in any Sanctioned Country, to the extent such activities, businesses or transaction
would be prohibited by Sanctions if conducted by a corporation incorporated in the United States, the United Kingdom or in a European Union member state. 

7.04 Financial Covenants. The Borrower shall not permit its (a) Consolidated Interest Coverage Ratio, as determined as of the end
of any fiscal quarter of the Borrower, to be less than 3.00 to 1.00 or (b) Consolidated Leverage Ratio, as determined as of the end of any fiscal quarter of the Borrower, to exceed 3.50 to 1.00; provided that clause (a) of this
Section 7.04 shall cease to apply if the Borrower achieves the Release Condition Ratings, in each case with a stable or better outlook, but shall be reinstated if the Index Debt Rating of the Borrower shall be downgraded
below the Release Condition Ratings. 
 ARTICLE VIII. 

EVENTS OF DEFAULT AND REMEDIES 

8.01 Events of Default. Any of the following shall constitute an Event of Default: 

(a) Non-Payment. The Borrower or any Designated Borrower fails to pay (i) when and as
required to be paid herein, any amount of principal of any Loan, or (ii) within three Business Days after the same becomes due, any interest on any Loan, or any fee due hereunder, or any other amount payable hereunder or under any other Loan
Document; or 
 (b) Specific Covenants. The Borrower fails to perform or observe any term, covenant or agreement contained in any of
Section 6.03(a) or 6.05(a) (solely with respect to the Borrower’s existence, the Subsidiary Guarantor’s existence or the existence of any Designated Borrower to which Loans are outstanding), or Article
VII (other than Section 7.03(b)); or 
 (c) Other Defaults. The Borrower, the Subsidiary Guarantor or
any Designated Borrower fails to perform or observe any other covenant or agreement (not specified in subsection (a) or (b) above) contained in any Loan Document on its part to be performed or observed and such failure continues
for 30 days after the receipt by the Borrower of notice from the Administrative Agent thereof; or 
 (d) Representations and
Warranties. Any representation, warranty, certification or statement of fact made or deemed made by or on behalf of the Borrower, the Subsidiary Guarantor or any Designated Borrower herein, in any other Loan Document, or in any document
delivered in connection herewith or therewith (i) if not qualified by materiality, shall be incorrect in any material respect when made or deemed made, or (ii) if qualified by materiality, shall be incorrect when made or deemed made; or

 (e) Cross-Default. (i) The Borrower or any Subsidiary (A) fails to make any payment when due (whether by scheduled
maturity, required prepayment, acceleration, demand, or otherwise) in respect of any Indebtedness or Guarantee (other than Indebtedness hereunder and Indebtedness under Swap Contracts) having an aggregate principal amount (including undrawn
committed or available amounts and including amounts owing to all creditors under any combined or syndicated credit arrangement) of more than the Threshold Amount (“Specified Indebtedness”), after giving effect to any applicable
grace period, if any, specified in the 

  
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agreement or instrument relating to such Indebtedness or Guarantee, or (B) fails to observe or perform any other agreement or condition relating to any Specified Indebtedness or contained in
any instrument or agreement evidencing, securing or relating thereto, after giving effect to any applicable grace period, if any, specified in the agreement or instrument relating to such Specified Indebtedness, the effect of which default is to
cause, or to permit the holder or holders of such Specified Indebtedness or the beneficiary or beneficiaries of any Specified Indebtedness constituting a Guarantee (or a trustee or agent on behalf of such holder or holders or beneficiary or
beneficiaries) to cause, with the giving of notice if required, such Specified Indebtedness to be demanded or to become due or to be repurchased, prepaid, defeased or redeemed (automatically or otherwise), or an offer to repurchase, prepay, defease
or redeem such Specified Indebtedness to be made, prior to its stated maturity, or such Specified Indebtedness consisting of a Guarantee to become payable or cash collateral in respect thereof to be demanded; or (ii) there occurs under any Swap
Contract an Early Termination Date (as defined in such Swap Contract) resulting from (A) any event of default under such Swap Contract as to which the Borrower or any Subsidiary is the Defaulting Party (as defined in such Swap Contract) and the
Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than the Threshold Amount, or (B) any Termination Event (as so defined) under such Swap Contract as to which the Borrower or any Subsidiary is an
Affected Party (as so defined) and (i) the Swap Termination Value owed by the Borrower or such Subsidiary as a result thereof is greater than the Threshold Amount, and (ii) the Borrower or such Subsidiary shall fail to make payment thereof
within the later to occur of five Business Days after the due date thereof and the expiration of any grace periods in such Swap Contract applicable to such payment obligation; or 

(f) Inability to Pay Debts; Insolvency Proceedings, Etc. The Borrower or any Significant Subsidiary becomes unable or admits in writing
its inability or fails generally to pay its debts as they become due; or the Borrower or any of its Significant Subsidiaries institutes or consents to the institution of any proceeding under any Debtor Relief Law, or makes an assignment for the
benefit of creditors; or applies for or consents to the appointment of any receiver, trustee, custodian, conservator, liquidator, rehabilitator or similar officer for it or for all or any material part of its property; or any receiver, trustee,
custodian, conservator, liquidator, rehabilitator or similar officer is appointed without the application or consent of the Borrower or such Significant Subsidiary and the appointment continues undischarged or unstayed for 60 calendar days; or any
proceeding under any Debtor Relief Law relating to the Borrower or such Significant Subsidiary or to all or any material part of its property is instituted without the consent of the Borrower or such Significant Subsidiary and continues undismissed
or unstayed for 60 calendar days, or an order for relief is entered in any such proceeding; or 
 (g) Judgments. There is entered
against the Borrower or any Significant Subsidiary one or more final judgments or orders for the payment of money in an aggregate amount (as to all such judgments or orders) exceeding the Threshold Amount (to the extent not paid or covered by
independent third-party insurance as to which the insurer does not dispute coverage) and the same shall remain undischarged for a period of 60 consecutive days during which a stay of enforcement of such judgment, by reason of a pending appeal or
otherwise, is not in effect; or 
 (h) ERISA. An ERISA Event or Foreign Plan Event shall have occurred that, when taken together with
all other ERISA Events or Foreign Plan Events that have occurred, has resulted in liability of the Borrower in an aggregate amount in excess of the Threshold Amount; or 

  
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 (i) Invalidity of Loan Documents. Any Loan Document, at any time after its execution and
delivery and for any reason other than as expressly permitted hereunder or thereunder or satisfaction in full of all the Obligations, ceases to be in full force and effect; or the Borrower or any of its Subsidiaries contests in any manner the
validity or enforceability of any Loan Document; or the Borrower denies that it has any or further liability or obligation under any Loan Document, or purports to revoke, terminate or rescind any Loan Document; or 

(j) Change of Control. There occurs any Change of Control; or 

(k) Guarantee. The guarantee contained in Article X shall cease, for any reason, to be in full force and effect or the Borrower
or the Subsidiary Guarantor shall so assert (in each case other than (x) as a result of the satisfaction in full of all Obligations or (y) in accordance with the terms hereof). 

8.02 Remedies Upon Event of Default. If any Event of Default occurs and is continuing, the Administrative Agent shall, at the
request of, or may, with the consent of, the Required Lenders, take any or all of the following actions: 
 (a) declare the Commitment of
each Lender to make Loans to be terminated, whereupon such Commitments and obligation shall be terminated; 
 (b) declare the unpaid
principal amount of all outstanding Loans, all interest accrued and unpaid thereon, and all other amounts owing or payable hereunder or under any other Loan Document to be immediately due and payable, without presentment, demand, protest or other
notice of any kind, all of which are hereby expressly waived by the Borrower and each Designated Borrower; or 
 (c) exercise on behalf of
itself and the Lenders all rights and remedies available to it and the Lenders under the Loan Documents; 
 provided, however, that upon the
occurrence of an actual or deemed entry of an order for relief with respect to the Borrower, the Subsidiary Guarantor or any Designated Borrower under the Bankruptcy Code of the United States, the obligation of each Lender to make Loans shall
automatically terminate, the unpaid principal amount of all outstanding Loans and all interest and other amounts as aforesaid shall automatically become due and payable without further act of the Administrative Agent or any Lender. 

8.03 Application of Funds. After the exercise of remedies provided for in Section 8.02 (or after the Loans
have automatically become immediately due and payable), any amounts received on account of the Obligations shall be applied by the Administrative Agent in the following order: 

First, to payment of that portion of the Obligations constituting fees, indemnities, expenses and other amounts (including fees,
charges and disbursements of counsel to the Administrative Agent and amounts payable under Article III) payable to the Administrative Agent in its capacity as such; 

  
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 Second, to payment of that portion of the Obligations constituting fees, indemnities and
other amounts (other than principal and interest) payable to the Lenders (including fees, charges and disbursements of counsel to the respective Lenders and amounts payable under Article III), ratably among them in proportion to the
respective amounts described in this clause Second payable to them; 
 Third, to payment of that portion of the Obligations
constituting accrued and unpaid interest on the Loans and other Obligations, ratably among the Lenders in proportion to the respective amounts described in this clause Third payable to them; 

Fourth, to payment of that portion of the Obligations constituting unpaid principal of the Loans, ratably among the Lenders in
proportion to the respective amounts described in this clause Fourth held by them; and 
 Last, the balance, if any, after all
of the Obligations have been indefeasibly paid in full, to the Borrower or as otherwise required by Law. 
 ARTICLE IX. 

ADMINISTRATIVE AGENT 
 9.01
Appointment and Authority. Each of the Lenders hereby irrevocably appoints JPMorgan Chase Bank, N.A. to act on its behalf as the Administrative Agent hereunder and under the other Loan Documents and authorizes the Administrative Agent to take
such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof or thereof, together with such actions and powers as are reasonably incidental thereto. The provisions of this Article (other
than Section 9.06) are solely for the benefit of the Administrative Agent and the Lenders, and the Borrower shall not have rights as a third-party beneficiary of any of such provisions. 

9.02 Rights as a Lender. The Person serving as the Administrative Agent hereunder shall have the same rights and powers in its
capacity as a Lender as any other Lender and may exercise the same as though it were not the Administrative Agent and the term “Lender” or “Lenders” shall, unless otherwise expressly indicated or unless the context
otherwise requires, include the Person serving as the Administrative Agent hereunder in its individual capacity. Such Person and its Affiliates may accept deposits from, lend money to, act as the financial advisor or in any other advisory capacity
for and generally engage in any kind of business with the Borrower or any Subsidiary or other Affiliate thereof as if such Person were not the Administrative Agent hereunder and without any duty to account therefor to the Lenders. 

9.03 Exculpatory Provisions. The Administrative Agent shall not have any duties or obligations except those expressly set forth herein
and in the other Loan Documents. Without limiting the generality of the foregoing, the Administrative Agent: (a) shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing;
(b) shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby or by the other Loan 

  
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Documents that the Administrative Agent is required to exercise as directed in writing by the Required Lenders (or such other number or percentage of the Lenders as shall be expressly provided
for herein or in the other Loan Documents), provided that the Administrative Agent shall not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is
contrary to any Loan Document or applicable law; and (c) shall not, except as expressly set forth herein and in the other Loan Documents, have any duty to disclose, and shall not be liable for the failure to disclose, any information relating
to the Borrower or any of its Affiliates that is communicated to or obtained by the Person serving as the Administrative Agent or any of its Affiliates in any capacity. The Administrative Agent shall not be liable for any action taken or not taken
by it (i) with the consent or at the request of the Required Lenders (or such other number or percentage of the Lenders as shall be necessary, or as the Administrative Agent shall believe in good faith shall be necessary, under the
circumstances as provided in Sections 8.02 and 11.01) or (ii) in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any Default unless and until notice
describing such Default is given to the Administrative Agent by the Borrower or a Lender. The Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or representation made in
or in connection with this Agreement or any other Loan Document, (ii) the contents of any certificate, report or other document delivered hereunder or thereunder or in connection herewith or therewith, (iii) the performance or observance
of any of the covenants, agreements or other terms or conditions set forth herein or therein or the occurrence of any Default, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement, any other Loan Document or any
other agreement, instrument or document or (v) the satisfaction of any condition set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

9.04 Reliance by Administrative Agent. The Administrative Agent shall be entitled to rely upon, and shall not incur any
liability for relying upon, any notice, request, certificate, consent, statement, instrument, document or other writing (including any electronic message, Internet or intranet website posting or other distribution) believed by it to be genuine and
to have been signed, sent or otherwise authenticated by the proper Person. The Administrative Agent also may rely upon any statement made to it orally or by telephone and believed by it to have been made by the proper Person, and shall not incur any
liability for relying thereon. In determining compliance with any condition hereunder to the making of a Loan that by its terms must be fulfilled to the satisfaction of a Lender, the Administrative Agent may presume that such condition is
satisfactory to such Lender unless the Administrative Agent shall have received notice to the contrary from such Lender prior to the making of such Loan. The Administrative Agent may consult with legal counsel (who may be counsel for the Borrower),
independent accountants and other experts selected by it, and shall not be liable for any action taken or not taken by it in accordance with the advice of any such counsel, accountants or experts. 

9.05 Delegation of Duties. The Administrative Agent may perform any and all of its duties and exercise its rights and powers hereunder
or under any other Loan Document by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may
perform any and all of its duties and exercise its rights and powers by or through their respective Related Parties. The exculpatory provisions of this Article shall apply to any such sub-agent and to the
Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as
activities as Administrative Agent. 

  
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 9.06 Resignation of Administrative Agent. The Administrative Agent may at any time give
notice of its resignation to the Lenders and the Borrower. Upon receipt of any such notice of resignation, the Required Lenders shall have the right, with the consent of the Borrower (not to be unreasonably withheld) unless an Event of Default shall
have occurred and be continuing, to appoint a successor, which shall be a Lender with an office in the United States, or an Affiliate of any such Lender with an office in the United States. Such successor Administrative Agent shall deliver to the
Borrower duly completed IRS Form W-8, W-9, or other applicable IRS forms. If no such successor shall have been so appointed by the Required Lenders and shall have
accepted such appointment within 45 days after the retiring Administrative Agent gives notice of its resignation, then the retiring Administrative Agent may on behalf of the Lenders, appoint a successor Administrative Agent meeting the
qualifications set forth above; provided that if the Administrative Agent shall notify the Borrower and the Lenders that no qualifying Person has accepted such appointment, then such resignation shall nonetheless become effective in
accordance with such notice and (1) the retiring Administrative Agent shall be discharged from its duties and obligations hereunder and under the other Loan Documents (except that in the case of any collateral security held by the
Administrative Agent on behalf of the Lenders under any of the Loan Documents, the retiring Administrative Agent shall continue to hold such collateral security until such time as a successor Administrative Agent is appointed) and (2) all
payments, communications and determinations provided to be made by, to or through the Administrative Agent shall instead be made by or to each Lender directly, until such time as the Required Lenders appoint a successor Administrative Agent as
provided for above in this Section. Upon the acceptance of a successor’s appointment as Administrative Agent hereunder, such successor shall succeed to and become vested with all of the rights, powers, privileges and duties of the retiring (or
retired) Administrative Agent, and the retiring Administrative Agent shall be discharged from all of its duties and obligations hereunder or under the other Loan Documents (if not already discharged therefrom as provided above in this Section). The
fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between the Borrower and such successor. After the retiring Administrative Agent’s resignation
hereunder and under the other Loan Documents, the provisions of this Article and Section 11.04 shall continue in effect for the benefit of such retiring Administrative Agent, its
sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while the retiring Administrative Agent was acting as Administrative Agent. 

9.07 Non-Reliance on Administrative Agent and Other Lenders. Each Lender
acknowledges that it has, independently and without reliance upon the Administrative Agent, any Agent or any other Lender or any of their Related Parties and based on such documents and information as it has deemed appropriate, made its own credit
analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent, any Agent or any other Lender or any of their Related Parties and based on such
documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement or any other Loan Document. 

  
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 9.08 No Other Duties, Etc. Anything herein to the contrary notwithstanding, none of the
Arrangers, Syndication Agents or Documentation Agents listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement or any of the other Loan Documents, except in its capacity, as applicable, as the
Administrative Agent or a Lender hereunder. Without limiting the foregoing, none of such Lenders shall have or be deemed to have a fiduciary relationship with any Lender. The Lenders are not partners or
co-venturers, and no Lender shall be liable for the acts or omissions of, or (except as otherwise set forth herein in case of the Administrative Agent) authorized to act for, any other Lender. 

9.09 ERISA Matters. 
 (a)
Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for
the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates, that at least one of the following is and will be true: 

(i) such Lender is not using “plan assets” (within the meaning of the Plan Asset Regulations) of one or more Plans in connection
with the Loans or the Commitments; 
 (ii) the transaction exemption set forth in one or more PTEs, such as PTE 84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house
asset managers), is applicable and the conditions for exemptive relief thereunder will be satisfied in connection with such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this
Agreement; 
 (iii) (A) such Lender is an investment fund managed by a “Qualified Professional Asset Manager” (within the
meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and perform the Loans, the
Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement satisfies the requirements of sub-sections
(b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of Part I of PTE 84-14 are
satisfied with respect to, and the conditions for exemptive relief under PTE 84-14 will be satisfied in connection with, such Lender’s entrance into, participation in, administration of and performance of
the Loans, the Commitments and this Agreement; or 
 (iv) such other representation, warranty and covenant as may be agreed in writing
between the Administrative Agent, in its sole discretion, and such Lender to the effect that such Lender’s entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement will not give rise to
a non-exempt prohibited transaction under Section 406 of ERISA or Section 4975 of the Code. 

  
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 (b) In addition, unless sub-clause (i) in the
immediately preceding clause (a) is true with respect to a Lender or such Lender has not provided another representation, warranty and covenant as provided in sub-clause (iv) in the immediately
preceding clause (a), such Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and (y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases
being a Lender party hereto, for the benefit of, the Administrative Agent, the Arrangers and their respective Affiliates that: 
 (i) none
of the Administrative Agent or the Arrangers or any of their respective Affiliates (the “Relevant Parties”) is a fiduciary with respect to the assets of such Lender (including in connection with the reservation or exercise of any rights by
the Administrative Agent under this Agreement, any Loan Document or any documents related hereto or thereto), 
 (ii) the Person making the
investment decision on behalf of such Lender with respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is independent (within the meaning of 29 CFR § 2510.3-21, as amended from time to time (the “Fiduciary Rule”)) and is a bank, an insurance carrier, an investment adviser, a broker-dealer or other person that holds, or has under management
or control, total assets of at least $50 million, in each case as described in 29 CFR § 2510.3-21(c)(1)(i)(A)-(E), 

(iii) the Person making the investment decision on behalf of such Lender with respect to the entrance into, participation in, administration
of and performance of the Loans, the Commitments and this Agreement is capable of evaluating investment risks independently, both in general and with regard to particular transactions and investment strategies (including in respect of the
Obligations), within the meaning of the Fiduciary Rule, 
 (iv) the Person making the investment decision on behalf of such Lender with
respect to the entrance into, participation in, administration of and performance of the Loans, the Commitments and this Agreement is a fiduciary under ERISA or the Code, or both, with respect to the Loans, the Commitments and this Agreement and is
responsible for exercising independent judgment in evaluating the transactions hereunder, and 
 (v) no fee or other compensation is being
paid directly to the Administrative Agent, the Arrangers or any of their respective Affiliates for investment advice (as opposed to other services) in connection with the Loans, the Commitments or this Agreement. 

(c) The Administrative Agent and the Arrangers hereby inform the Lenders that each such Person is not undertaking to provide impartial
investment advice, or to give advice in a fiduciary capacity, in connection with the transactions contemplated hereby, and that such Person has a financial interest in the transactions contemplated hereby in that such Person or an Affiliate thereof
(i) may receive interest or other payments with respect to the Loans, the Commitments and this Agreement, (ii) may recognize a gain if it extended the Loans or the Commitments for 

  
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an amount less than the amount being paid for an interest in the Loans or the Commitments by such Lender or (iii) may receive fees or other payments in connection with the transactions
contemplated hereby, the Loan Documents or otherwise, including structuring fees, commitment fees, arrangement fees, facility fees, upfront fees, underwriting fees, ticking fees, agency fees, administrative agent or collateral agent fees,
utilization fees, minimum usage fees, letter of credit fees, fronting fees, deal-away or alternate transaction fees, amendment fees, processing fees, term out premiums, banker’s acceptance fees, breakage or other early termination fees or fees
similar to the foregoing. 
 ARTICLE X. 

GUARANTY 
 10.01
Guarantee. In order to induce the Administrative Agent and the Lenders to execute and deliver this Agreement and to make or maintain the Loans, and in consideration thereof, each Guarantor hereby unconditionally and irrevocably guarantees, as
primary obligor and not merely as surety, to the Administrative Agent, for the ratable benefit of the Lenders, the prompt and complete payment and performance by the Borrower and/or each Designated Borrower, as applicable, when due (whether at
stated maturity, by acceleration or otherwise) of the Obligations, and such Guarantor further agrees to pay any and all reasonable expenses (including, without limitation, all reasonable fees, charges and disbursements of counsel) which may be paid
or incurred by the Administrative Agent or by the Lenders in enforcing, or obtaining advice of counsel in respect of, any of their rights under the guarantee contained in this Article X. The guarantee contained in this Article X,
subject to Section 10.05, shall remain in full force and effect until the Obligations are paid in full and the Commitments are terminated, notwithstanding that from time to time prior thereto the Borrower and/or such
Designated Borrower may be free from any Obligations. For the avoidance of doubt and without any implication to the contrary, the guarantee by the Borrower and all waivers, acknowledgements and agreement by the Borrower contained in this Article
X shall be limited solely to the Obligations of the Designated Borrowers. 
 Each Guarantor agrees that whenever, at any time, or from
time to time, it shall make any payment to the Administrative Agent or any Lender on account of its liability under this Article X, it will notify the Administrative Agent and such Lender in writing that such payment is made under the
guarantee contained in this Article X for such purpose. No payment or payments made by the Borrower, any Designated Borrower or any other Person or received or collected by the Administrative Agent or any Lender from the Borrower, any
Designated Borrower or any other Person by virtue of any action or proceeding or any setoff or appropriation or application, at any time or from time to time, in reduction of or in payment of the Obligations shall be deemed to modify, reduce,
release or otherwise affect the liability of such Guarantor under this Article X which, notwithstanding any such payment or payments, shall remain liable for the unpaid and outstanding Obligations until, subject to
Section 10.05, the Obligations are paid in full and the Commitments are terminated. 
 10.02 No
Subrogation. Notwithstanding any payment made by any Guarantor pursuant to this Article X or any set-off or application of funds of such Guarantor by the Administrative Agent or any Lender in
connection with the guarantee contained in this Article X, no Guarantor shall be entitled to be subrogated to any of the rights of the Administrative Agent or any Lender 

  
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against the Borrower and/or any Designated Borrower or any collateral security or guarantee or right of offset held by the Administrative Agent or any Lender for the payment of the Obligations,
nor shall any Guarantor seek or be entitled to seek any contribution or reimbursement from the Borrower and/or such Designated Borrower in respect of payments made by such Guarantor under this Article X, until all amounts owing to the
Administrative Agent and the Lenders on account of the Obligations are paid in full and the Commitments are terminated. If any amount shall be paid to any Guarantor on account of such subrogation rights at any time when all of the Obligations shall
not have been paid in full, such amount shall be held by such Guarantor in trust for the Administrative Agent and the Lenders, segregated from other funds of such Guarantor, and shall, forthwith upon receipt by such Guarantor, be turned over to the
Administrative Agent in the exact form received by such Guarantor (duly indorsed by such Guarantor to the Administrative Agent, if required), to be applied against the Obligations, whether matured or unmatured, in such order as the Administrative
Agent may determine. The provisions of this Section 10.02 shall survive the term of the guarantee contained in this Article X and the payment in full of the Obligations and the termination of the Commitments and this
Agreement,. 
 10.03 Amendments, etc. with respect to the Obligations. Each Guarantor shall remain obligated
under this Article X notwithstanding that, without any reservation of rights against such Guarantor, and without notice to or further assent by such Guarantor, any demand for payment of or reduction in the principal amount of any of the
Obligations made by the Administrative Agent or any Lender may be rescinded by the Administrative Agent or such Lender, and any of the Obligations continued, and the Obligations, or the liability of any other party upon or for any part thereof, or
any collateral security or guarantee therefor or right of offset with respect thereto, may, from time to time, in whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived, surrendered or released by the
Administrative Agent or any Lender, and this Agreement and any other documents executed and delivered in connection herewith may be amended, modified, supplemented or terminated, in whole or in part, as the Lenders (or the Required Lenders, as the
case may be) may deem advisable from time to time, and any collateral security, guarantee or right of offset at any time held by the Administrative Agent or any Lender for the payment of the Obligations may be sold, exchanged, waived, surrendered or
released. Neither the Administrative Agent nor any Lender shall have any obligation to protect, secure, perfect or insure any lien at any time held by it as security for the Obligations or for the guarantee contained in this Article X or any
property subject thereto. 
 10.04 Guarantee Absolute and Unconditional. Each Guarantor waives any and all notice of the
creation, renewal, extension or accrual of any of the Obligations and notice of or proof of reliance by the Administrative Agent or any Lender upon the guarantee contained in this Article X or acceptance of the guarantee contained in this
Article X; the Obligations shall conclusively be deemed to have been created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon the guarantee contained in this Article X; and all dealings between the
Borrower or any Designated Borrower or any Guarantor, on the one hand, and the Administrative Agent and the Lenders, on the other, shall likewise be conclusively presumed to have been had or consummated in reliance upon the guarantee contained in
this Article X. Each Guarantor waives diligence, presentment, protest, demand for payment and notice of default or nonpayment to or upon such Guarantor, the Borrower or any Designated Borrower with respect

  
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to the Obligations. To the full extent permitted by law, the guarantee contained in this Article X shall be construed as a continuing, absolute and unconditional guarantee of payment
without regard to (a) the validity or enforceability of this Agreement, any of the Obligations or any collateral security therefor or guarantee or right of offset with respect thereto at any time or from time to time held by the Administrative
Agent or any Lender, (b) the legality under applicable Laws of repayment by the Borrower and/or any Designated Borrower of the Obligations or the adoption of any requirement of law purporting to render any Obligations null and void,
(c) any defense, setoff or counterclaim (other than a defense of payment or performance by the Borrower and/or a Designated Borrower) which may at any time be available to or be asserted by such Guarantor against the Administrative Agent or any
Lender, (d) any change in ownership of the Borrower and/or any Designated Borrower, any merger or consolidation of the Borrower and/or any Designated Borrower into another Person or any loss of the Borrower’s and/or any Designated
Borrower’s separate legal identity or existence, or (e) any other circumstance whatsoever (with or without notice to or knowledge of the Borrower, any Designated Borrower or any Guarantor) which constitutes, or might be construed to
constitute, an equitable or legal discharge of any Obligations, or of any Guarantor under the guarantee contained in this Article X in bankruptcy or in any other instance. When the Administrative Agent or any Lender is pursuing its rights and
remedies under this Article X against any Guarantor, the Administrative Agent or any Lender may, but shall be under no obligation to, pursue such rights and remedies as it may have against the Borrower and/or any Designated Borrower or any
other Person or against any collateral security or guarantee for the Obligations or any right of offset with respect thereto, and any failure by the Administrative Agent or any Lender to pursue such other rights or remedies or to collect any
payments from the Borrower and/or any Designated Borrower or any such other Person or to realize upon any such collateral security or guarantee or to exercise any such right of offset, or any release of the Borrower and/or any Designated Borrower or
any such other Person or of any such collateral security, guarantee or right of offset, shall not relieve the Borrower of any liability under this Article X and shall not impair or affect the rights and remedies, whether express, implied or
available as a matter of law, of the Administrative Agent and the Lenders against any Guarantor. 
 10.05 Reinstatement. The
guarantee contained in this Article X shall continue to be effective, or be automatically reinstated without any further action, as the case may be, if at any time payment, or any part thereof, of any of the Obligations is rescinded or must
otherwise be restored or returned by the Administrative Agent or any Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of the Borrower or such Designated Borrower or upon or as a result of the appointment of a
receiver, intervenor or conservator of, or trustee or similar officer for, the Borrower or such Designated Borrower or any substantial part of its property, or otherwise, all as though such payments had not been made. 

10.06 Payments. Each Guarantor hereby agrees that any payments in respect of the Obligations pursuant to this Article X will be
paid to the Administrative Agent without setoff or counterclaim in U.S. Dollars, at the office of the Administrative Agent specified in Section 11.02. 

10.07 Independent Obligations. The obligations of each Guarantor under the guarantee contained in Article X are
independent of the obligations of the Borrower or any Designated Borrower, and a separate action or actions may be brought and prosecuted against such 

  
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Guarantor whether or not the Borrower or such Designated Borrower is joined in any such action or actions. Each Guarantor waives, to the full extent permitted by law, the benefit of any statute
of limitations affecting its liability hereunder or the enforcement thereof. Any payment by the Borrower or a Designated Borrower or other circumstance which operates to toll any statute of limitations as to the Borrower or such Designated Borrower
shall operate to toll the statute of limitations as to such Guarantor. 
 10.08 Release. The guarantee contained in this Article
X by the Subsidiary Guarantor will be automatically released without any further action by the Administrative Agent, any Lender, any Loan Party or any other Person if the Subsidiary Guarantor is no longer a guarantor of the Existing Facility or
any replacement of the Existing Facility; provided that the such guarantee shall not be released if the Subsidiary Guarantor guarantees any syndicated credit facility or any Indebtedness issued in a Capital Markets Transaction;
provided further that if the guarantee hereunder is released pursuant to this Section 10.08, the guarantee shall automatically and immediately be reinstated without any further action if the Subsidiary Guarantor
subsequently guarantees any syndicated credit facility or any Indebtedness issued in a Capital Markets Transactions. The Administrative Agent shall provide any documentation reasonably requested by the Borrower to acknowledge or evidence such
release; provided that no such documentation shall be required to effect such release hereunder. In the event that the Subsidiary Guarantor shall be released from the guarantee under the Existing Facility or any replacement of the Existing Facility
and in connection with such release the Borrower modifies or amends the Existing Facility or such replacement of the Existing Facility to include any additional covenant or event of default or to make any existing covenant or event of default
more restrictive than the correlative covenant or event of default hereunder, then the Agreement shall be deemed to include such additional covenant or event of default or make such correlative covenant or event of default as restrictive as such
more restrictive covenant or event of default. 
 ARTICLE XI. 

MISCELLANEOUS 
 11.01
Amendments, Etc. No amendment or waiver of any provision of this Agreement or any other Loan Document, and no consent to any departure by the Borrower or any Designated Borrower therefrom, shall be effective unless in writing signed by the
Required Lenders, the Borrower and each Designated Borrower, and acknowledged by the Administrative Agent, and each such waiver or consent shall be effective only in the specific instance and for the specific purpose for which given;
provided, however, that no such amendment, waiver or consent shall: 
 (a) waive any condition set forth in
Section 4.01(a) or Section 4.03 without the written consent of each Lender; 
 (b)
extend or increase the Commitment of any Lender (or reinstate any Commitment terminated pursuant to Section 8.02) or extend the Maturity Date with respect to the Loans of any Lender, in each case without the written consent
of such Lender (it being understood that any amendment or waiver related to Early Maturity Events shall only require the consent of the Required Lenders); 

  
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 (c) postpone any date fixed by this Agreement or any other Loan Document for any scheduled
payment of principal, interest, fees or other amounts due to the Lenders (or any of them) or any scheduled expiration of the Aggregate Commitments hereunder or under any other Loan Document without the written consent of each Lender directly
affected thereby; 
 (d) subject to Section 3.03, reduce the principal of, or the rate of interest specified
herein on, any Loan, or any fees or other amounts payable hereunder or under any other Loan Document; provided, however, that only the consent of the Required Lenders shall be necessary to amend the definition of “Default
Rate” or to waive any obligation of the Borrower to pay interest at the Default Rate or change the manner of computation of any financial ratio (including any change in any applicable defined term) used in determining the Applicable Rate
that would result in a reduction of any interest rate on any Loan or any fee payable hereunder; 
 (e) change
Section 2.11 or Section 8.03 in a manner that would alter the pro rata sharing of payments required thereby without the written consent of each Lender; 

(f) release the guaranty contained in Article X without the written consent of each Lender (other than (i) as provided in
Section 10.08 or (ii) with respect to any Designated Borrower upon termination of such Subsidiary’s designation as a Designated Borrower in accordance with Section 11.18); or 

(g) change any provision of this Section or the definition of “Required Lenders” or any other provision hereof specifying the number
or percentage of Lenders (or, subject to the penultimate sentence of this Section 11.01, the Lenders of any class) required to amend, waive or otherwise modify any rights hereunder or make any determination or grant any
consent hereunder without the written consent of each Lender; 
 and, provided further, that no such amendment, waiver or consent shall amend,
modify or otherwise affect the rights or duties of the Administrative Agent under this Agreement without the prior written consent of the Administrative Agent in addition to the Lenders required above. Without limiting the generality of the
foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such Default at the time. Notwithstanding anything to the contrary
herein, (i) any waiver, amendment or modification of this Agreement that by its terms affects the rights or duties under this Agreement of Lenders holding Loans of a particular class (but not the Lenders holding Loans of any other class) or
Commitments may be effected by an agreement or agreements in writing entered into by the Borrower, each Designated Borrower and the requisite percentage in interest of the affected Lenders that would be required to consent thereto under this
Section 11.01 if such Lenders were the only Lenders hereunder at such time, and (ii) no Defaulting Lender shall have any right to approve or disapprove any amendment, waiver or consent under this Agreement, except that
(x) the Commitment of such Lender may not be increased or extended without the consent of such Lender and (y) the principal amount of, or interest or fees payable on, Loans may not be reduced or excused or the scheduled date of payment may
not be postponed as to such Defaulting Lender without such Defaulting Lender’s consent. 

  
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 Furthermore, notwithstanding the foregoing, the Administrative Agent, with the consent of the
Borrower, may amend, modify or supplement any Loan Document without the consent of any Lender or the Required Lenders in order to correct, amend or cure any ambiguity, inconsistency or defect or correct any typographical error or other manifest
error in any Loan Document. 
 11.02 Notices; Effectiveness; Electronic Communication. 

(a) Notices Generally. Except in the case of notices and other communications expressly permitted to be given by telephone (and except
as provided in subsection (b) below), all notices and other communications provided for herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by certified or registered mail or sent by telecopier
as follows, and all notices and other communications expressly permitted hereunder to be given by telephone shall be made to the applicable telephone number, as follows: (i) if to any Loan Party or the Administrative Agent, to the address,
telecopier number, electronic mail address or telephone number specified for such Person on Schedule 11.02 or in the Joinder Agreement applicable thereto; provided that any Loan Party shall be notified by electronic mail of any notice
sent by telecopier; and (ii) if to any other Lender, to the address, telecopier number, electronic mail address or telephone number specified in its Administrative Questionnaire. Notices sent by hand or overnight courier service, or mailed by
certified or registered mail, shall be deemed to have been given when received; notices sent by telecopier shall be deemed to have been given when sent (except that, if not given during normal business hours for the recipient, shall be deemed to
have been given at the opening of business on the next business day for the recipient). Notices delivered through electronic communications to the extent provided in subsection (b) below, shall be effective as provided in such
subsection (b). 
 (b) Electronic Communications. Notices and other communications to the Lenders hereunder may be delivered
or furnished by electronic communication (including e-mail and Internet or intranet websites) pursuant to procedures approved by the Administrative Agent, provided that the foregoing shall not apply to
notices to any Lender pursuant to Article II if such Lender has notified the Administrative Agent that it is incapable of receiving notices under such Article by electronic communication. The Administrative Agent and each Loan Party may, in
its discretion, agree to accept notices and other communications to it hereunder by electronic communications pursuant to procedures approved by it (or in the case of any Loan Party, the Borrower), provided that approval of such procedures
may be limited to particular notices or communications. 
 Unless the Administrative Agent otherwise prescribes, (i) notices and other
communications sent to an e-mail address shall be deemed received upon the sender’s receipt of an acknowledgement from the intended recipient (such as by the “return receipt requested” function,
as available, return e-mail or other written acknowledgement), provided that if such notice or other communication is not sent during the normal business hours of the recipient, such notice or
communication shall be deemed to have been sent at the opening of business on the next business day for the recipient, and (ii) notices or communications posted to an Internet or intranet website shall be deemed received upon the deemed receipt
by the intended recipient at its e-mail address as described in the foregoing clause (i) of notification that such notice or communication is available and identifying the website address therefor.

  
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 (c) The Platform. THE PLATFORM IS PROVIDED “AS IS” AND “AS AVAILABLE.”
THE AGENT PARTIES (AS DEFINED BELOW) DO NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE BORROWER MATERIALS OR THE ADEQUACY OF THE PLATFORM, AND EXPRESSLY DISCLAIM LIABILITY FOR ERRORS IN OR OMISSIONS FROM THE BORROWER MATERIALS. NO WARRANTY OF ANY
KIND, EXPRESS, IMPLIED OR STATUTORY, INCLUDING ANY WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON- INFRINGEMENT OF THIRD PARTY RIGHTS OR FREEDOM FROM VIRUSES OR OTHER CODE DEFECTS, IS MADE
BY ANY AGENT PARTY IN CONNECTION WITH THE BORROWER MATERIALS OR THE PLATFORM. In no event shall the Administrative Agent or any of its Related Parties (collectively, the “Agent Parties”) have any liability to the any Loan Party, any
Lender or any other Person for losses, claims, damages, liabilities or expenses of any kind (whether in tort, contract or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Borrower Materials through the
Internet, except to the extent that such losses, claims, damages, liabilities or expenses result from the gross negligence or willful misconduct of such Agent Party as determined by a court of competent jurisdiction in a final non-appealable judgment; provided, however, that in no event shall any Agent Party have any liability to any Loan Party, any Lender or any other Person for indirect, special, incidental, consequential
or punitive damages (as opposed to direct or actual damages). 
 (d) Change of Address, Etc. Each Loan Party and the Administrative
Agent may change its address, telecopier or telephone number for notices and other communications hereunder by notice to the other parties hereto. Each other Lender may change its address, telecopier or telephone number for notices and other
communications hereunder by notice to the Borrower and the Administrative Agent. In addition, each Lender agrees to notify the Administrative Agent from time to time to ensure that the Administrative Agent has on record (i) an effective
address, contact name, telephone number, telecopier number and electronic mail address to which notices and other communications may be sent and (ii) accurate wire instructions for such Lender. 

(e) Reliance by Administrative Agent and Lenders. The Administrative Agent and the Lenders shall be entitled to rely and act upon any
notices (including telephonic Committed Loan Notices) purportedly given by or on behalf of the Borrower even if (i) such notices were not made in a manner specified herein, were incomplete or were not preceded or followed by any other form of
notice specified herein, or (ii) the terms thereof, as understood by the recipient, varied from any confirmation thereof. The Borrower shall indemnify the Administrative Agent, each Lender and the Related Parties of each of them from all
losses, costs, expenses and liabilities resulting from the reliance by such Person on each notice purportedly given by or on behalf of the Borrower, provided that such indemnity shall not be available as to any Indemnitee (as defined in
Section 11.04(b)) to the extent that such losses, costs, expenses and liabilities result from the gross negligence or willful misconduct of such Indemnitee. All telephonic notices to and other telephonic communications with
the Administrative Agent may be recorded by the Administrative Agent, and each of the parties hereto hereby consents to such recording. 

(f) Deemed Notices to Designated Borrowers. Any notice given under this Section 11.02 to the Borrower shall
also be deemed notice to any Designated Borrower and the Borrower shall be entitled to give any notice on behalf of any Designated Borrower. 

  
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 11.03 No Waiver; Cumulative Remedies. No failure by any Lender or the Administrative Agent
to exercise, and no delay by any such Person in exercising, any right, remedy, power or privilege hereunder shall operate as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or privilege hereunder preclude any
other or further exercise thereof or the exercise of any other right, remedy, power or privilege. The rights, remedies, powers and privileges herein provided are cumulative and not exclusive of any rights, remedies, powers and privileges provided by
law. 
 11.04 Expenses; Indemnity; Damage Waiver. 

(a) Costs and Expenses. The Borrower shall pay (i) all reasonable
out-of-pocket expenses incurred by the Administrative Agent and the Arrangers (including the reasonable and documented fees, charges and disbursements of one counsel for
the Administrative Agent and the Arrangers), in connection with the syndication of the credit facilities provided for herein, the preparation, negotiation, execution, delivery and administration of this Agreement and the other Loan Documents or any
amendments, modifications or waivers of the provisions hereof or thereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all
out-of-pocket expenses incurred by the Administrative Agent, any Arranger, any Syndication Agent, any Documentation Agent or any Lender (including the reasonable and
documented fees, charges and disbursements of one counsel for the Administrative Agent, the Arrangers, the Syndication Agents and the Documentation Agents and one local counsel in each jurisdiction of organization of any Loan Party but only so long
as such jurisdiction is different from the jurisdiction of organization of the Borrower (such jurisdiction, the “Applicable Jurisdiction”)(and, in the case of an actual or perceived conflict of interest where the Administrative
Agent and/or its Affiliates, the Arrangers, the Syndication Agents and/or the Documentation Agents affected by such conflict has retained its own counsel, of another law firm acting as counsel for such Person and another local counsel in each
Applicable Jurisdiction)) in connection with the enforcement or protection of its rights (A) in connection with this Agreement and the other Loan Documents, including its rights under this Section, or (B) in connection with the Loans made,
including all such out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

(b) Indemnification by the Borrower. The Borrower shall indemnify the Administrative Agent (and any
sub-agent thereof), the Arrangers, the Syndication Agents, the Documentation Agents each Lender and each Related Party of any of the foregoing Persons (each such Person being called an
“Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, penalties, liabilities and related expenses (including the reasonable and documented fees, charges and disbursements of one counsel
for the Indemnitees and one local counsel for the Indemnitees in each Applicable Jurisdiction)(and, in the case of an actual or perceived conflict of interest where the Indemnitees affected by such conflict have retained its own counsel, of another
law firm acting as counsel for such Indemnitee and another local counsel in each Applicable Jurisdiction)) incurred by any Indemnitee or asserted against any Indemnitee by any third party or by the Borrower arising out of, in connection with, or as
a result of (i) the execution or delivery of this Agreement, any other Loan Document or any agreement or instrument contemplated hereby or thereby, the performance by the parties hereto of their respective obligations hereunder or thereunder,
the consummation of the transactions contemplated hereby or thereby, or, in the case of the Administrative Agent (and 

  
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any sub-agent thereof) and its Related Parties only, the administration of this Agreement and the other Loan Documents, (ii) any Loan or the use or
proposed use of the proceeds therefrom and (iii) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory, whether brought by a third party or
by the Borrower, its equity holders, affiliates or creditors, and regardless of whether any Indemnitee is a party thereto; provided that such indemnity shall not, as to any Indemnitee, be available to the extent that such losses, claims,
damages, liabilities or related expenses (x) result from the gross negligence or willful misconduct of such Indemnitee as determined by a court of competent jurisdiction in a final non-appealable judgment
or (y) result from a claim brought by the Borrower against an Indemnitee for a material breach of such Indemnitee’s obligations hereunder or under any other Loan Document, if the Borrower has obtained a final non-appealable judgment in its
favor on such claim as determined by a court of competent jurisdiction. 
 (c) Reimbursement by Lenders. To the extent that the
Borrower for any reason fails to indefeasibly pay any amount required under subsection (a) or (b) of this Section to be paid by it to the Administrative Agent (or any sub-agent thereof) or
any Related Party of any of the foregoing, but without releasing the Borrower from its obligation to do so, each Lender severally agrees to pay to the Administrative Agent (or any such sub-agent) or such
Related Party, as the case may be, such Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense or indemnity payment is sought) of such unpaid amount, provided that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by or asserted against the Administrative Agent (or any such sub-agent), in its capacity as such, or against any
Related Party of any of the foregoing acting for the Administrative Agent (or any such sub-agent) in connection with such capacity. The obligations of the Lenders under this subsection (c) are
subject to the provisions of Section 2.10(d). 
 (d) Waiver of Consequential Damages, Etc. To the fullest
extent permitted by applicable law, no party hereto shall assert, and hereby waives, any claim against any Indemnitee, on any theory of liability, for special, indirect, consequential or punitive damages (as opposed to direct or actual damages)
arising out of, in connection with, or as a result of, this Agreement, any other Loan Document or any agreement or instrument contemplated hereby, the transactions contemplated hereby or thereby, any Loan or the use of the proceeds thereof;
provided that the foregoing shall in no way modify the indemnification obligations of the Borrower pursuant to subsection (b) above. No Indemnitee referred to in subsection (b) above shall be liable for any damages
arising from the use by unintended recipients of any information or other materials distributed to such unintended recipients by such Indemnitee through telecommunications, electronic or other information transmission systems in connection with this
Agreement or the other Loan Documents or the transactions contemplated hereby or thereby other than for direct or actual damages resulting from the gross negligence or willful misconduct of such Indemnitee as determined by a court of competent
jurisdiction in a final non-appealable judgment. 
 (e) Payments. All amounts due under this
Section shall be payable not later than 30 days after demand therefor. 

  
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 (f) Survival. The agreements in this Section shall survive the resignation of the
Administrative Agent, the replacement of any Lender, the termination of this Agreement, the termination of the Aggregate Commitments and the repayment, satisfaction or discharge of all the other Obligations. 

11.05 Payments Set Aside. To the extent that any payment by or on behalf of the Borrower is made to the Administrative Agent or any
Lender, or the Administrative Agent or any Lender exercises its right of setoff, and such payment or the proceeds of such setoff or any part thereof is subsequently invalidated, declared to be fraudulent or preferential, set aside or required
(including pursuant to any settlement entered into by the Administrative Agent or such Lender in its discretion) to be repaid to a trustee, receiver or any other party, in connection with any proceeding under any Debtor Relief Law or otherwise, then
(a) to the extent of such recovery, the obligation or part thereof originally intended to be satisfied shall be revived and continued in full force and effect as if such payment had not been made or such setoff had not occurred, and
(b) each Lender severally agrees to pay to the Administrative Agent upon demand its applicable share (without duplication) of any amount so recovered from or repaid by the Administrative Agent, plus interest thereon from the date of such demand
to the date such payment is made at a rate per annum equal to the Federal Funds Effective Rate from time to time in effect. The obligations of the Lenders under clause (b) of the preceding sentence shall survive the payment in full of
the Obligations and the termination of this Agreement. 
 11.06 Successors and Assigns. 

(a) Successors and Assigns Generally. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties
hereto and their respective successors and assigns permitted hereby, except that neither the Borrower nor any Designated Borrower may assign (except as permitted hereunder) or otherwise transfer any of its rights or obligations hereunder without the
prior written consent of the Administrative Agent and each Lender (and any attempted assignment or transfer by the Borrower or any Designated Borrower without such consent shall be null and void) and no Lender may assign or otherwise transfer any of
its rights or obligations hereunder except (i) to an assignee in accordance with the provisions of subsection (b) of this Section, (ii) by way of participation in accordance with the provisions of subsection (d) of
this Section, or (iii) by way of pledge or assignment of a security interest subject to the restrictions of subsection (f) of this Section 11.06 (and any other attempted assignment or transfer by any party
hereto shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, the Arrangers, the Syndication Agents, the Documentation Agents, their respective
successors and assigns permitted hereby, Participants to the extent provided in subsection (d) of this Section and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any
legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b) Assignments by Lenders. Any Lender may at any time assign to one or more assignees all
or a portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that any such assignment shall be subject to the following conditions: 

(i) Minimum Amounts. (A) in the case of an assignment of the entire remaining amount of the assigning Lender’s Commitment and
the Loans at the time owing to it or in the case of an assignment to a Lender, an Affiliate of a Lender or an Approved Fund, no minimum amount need be assigned; and (B) in any case not described in subsection (b)(i)(A) of this Section,
the aggregate amount of the Commitment (which for this purpose includes Loans outstanding thereunder) or, if the Commitment is not then in effect, the principal outstanding balance of the Loans of the assigning Lender subject to each such
assignment, determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent or, if “Trade Date” is specified in the Assignment and Assumption, as of the Trade Date, shall not
be less than $15,000,000 unless each of the Administrative Agent and, so long as no Event of Default has occurred and is continuing, the Borrower otherwise consents (each such consent not to be unreasonably withheld or delayed); provided,
however, that concurrent assignments to members of an Assignee Group and concurrent assignments from members of an Assignee Group to a single assignee (or to an assignee and members of its Assignee Group) will be treated as a single
assignment for purposes of determining whether such minimum amount has been met. 
 (ii) Proportionate Amounts. Each partial
assignment shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and obligations under this Agreement with respect to the Loans or the Commitment assigned; 

(iii) Required Consents. No consent shall be required for any assignment except to the extent required by subsection (b)(i)(B)
of this Section and the last sentence of this subsection (b)(iii) and, in addition: (A) the consent of the Borrower (such consent not to be unreasonably withheld or delayed) shall be required unless (1) subject to the last sentence
of this clause (iii), an Event of Default has occurred and is continuing at the time of such assignment or (2) such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund; and (B) the consent of the Administrative Agent
(such consent not to be unreasonably withheld or delayed) shall be required; provided that the consent of the Administrative Agent is not required if such assignment is to a Lender, an Affiliate of a Lender or an Approved Fund.
Notwithstanding the foregoing, if an Event of Default, other than pursuant to Section 8.01(a) or Section 8.01(f), has occurred and is continuing, no assignments will be permitted to be made without
the consent of the Borrower, which consent shall not be unreasonably withheld or delayed, other than to other Lenders, Affiliates of Lenders, Approved Funds, or other commercial banks or regulated financial institutions which are rated by (or whose
direct or indirect parent are rated by) S&P, Moody’s or Fitch. 
 (iv) Assignment and Assumption. The parties to each
assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole
discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire. 

(v) No Assignment to Borrower. No such assignment shall be made to the Borrower or any of the Borrower’s Affiliates or
Subsidiaries. 

  
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 (vi) No Assignment to Natural Persons. No such assignment shall be made to a natural
person. 
 Subject to acceptance and recording thereof by the Administrative Agent pursuant to subsection (c) of this Section, from and after
the effective date specified in each Assignment and Assumption, the assignee thereunder shall be a party to this Agreement and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of a Lender
under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and Assumption
covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto) but shall continue to be entitled to the benefits of Sections 3.01, with respect to payments by or on
account of any obligation of any Loan Party hereunder or under any other Loan Document, and the benefits of Sections 3.04, 3.05, and 11.04 with respect to facts and circumstances, in each case, occurring prior to the effective
date of such assignment. Upon request, the Borrower (at its expense) shall execute and deliver a Note to the assignee Lender. Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this
subsection shall be treated for purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with subsection (d) of this Section. 

(c) Register. The Administrative Agent, acting solely for this purpose as a non-fiduciary agent
of the Borrower, shall maintain at the Administrative Agent’s Office a copy of each Assignment and Assumption delivered to it and a register for the recordation of the names and addresses of the Lenders, and the Commitments of, and principal
amounts of the Loans owing to, each Lender pursuant to the terms hereof from time to time (the “Register”). The entries in the Register shall, in the absence of manifest error, be conclusive, and the Borrower, the Administrative
Agent, and the Lenders shall treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register shall be available for
inspection by the Borrower, and any Lender, at any reasonable time and from time to time upon reasonable prior notice. 
 (d)
Participations. Any Lender may at any time sell participations to any Person (other than a natural person or the Borrower or any of the Borrower’s Affiliates or Subsidiaries) (each, a “Participant”) in all or a portion
of such Lender’s rights and/or obligations under this Agreement (including all or a portion of its Commitment and/or the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall remain
unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations, (iii) the Borrower, the Administrative Agent and the Lenders shall continue to deal solely and directly, with
such Lender in connection with such Lender’s rights and obligations under this Agreement, and (iv) unless an Event of Default has occurred and is continuing, any such participation must be approved by the Borrower, which approval shall not
be unreasonably withheld or delayed. Notwithstanding the foregoing, if an Event of Default, other than pursuant to Section 8.01(a) or Section 8.01(f), has occurred and is continuing, no
participations will be permitted to be made without the consent of the Borrower, which consent shall not be unreasonably withheld or delayed, other than to other Lenders, Affiliates of Lenders, Approved

  
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Funds, or other commercial banks or regulated financial institutions which are rated by (or whose direct or indirect parent are rated by) S&P, Moody’s or Fitch. Any agreement or
instrument pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement;
provided that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, waiver or other modification described in the first proviso to
Section 11.01 that affects such Participant. Subject to subsection (e) of this Section, the Borrower agrees that each Participant shall be entitled to the benefits of Sections 3.01, 3.04 and
3.05 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to subsection (b) of this Section. To the extent permitted by law, each Participant also shall be entitled to the benefits of
Section 11.08 as though it were a Lender, provided such Participant agrees to be subject to Section 2.11 as though it were a Lender. Each Lender that sells a participation shall, acting
solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of each Participant and the principal amounts (and stated interest) of each
Participant’s interest in the Commitments, Loans or other obligations under this Agreement (the “Participant Register”); provided that no Lender shall have any obligation to disclose all or any portion of the Participant
Register to any Person (including the identity of any Participant or any information relating to a Participant’s interest in any obligations under any Loan Document) except to the extent that such disclosure is necessary to establish that such
obligation is in registered form under Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender
shall treat each person whose name is recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. 

(e) Limitations upon Participant Rights. A Participant shall not be entitled to receive any greater payment under
Section 3.01 or 3.04 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless (A) the sale of the participation to such Participant is
made with the Borrower’s prior written consent (which consent shall not be unreasonably withheld) or (B) such entitlement to receive a greater payment results from a Change in Law that occurs after the Participant acquired the applicable
participation. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 3.01 unless the Borrower is notified of the participation sold to such Participant and such
Participant agrees, for the benefit of the Borrower and any Designated Borrower, to comply with Section 3.01(e) as though it were a Lender. 

(f) Certain Pledges. Any Lender may at any time pledge or assign a security interest in all or any portion of its rights under this
Agreement (including under its Note, if any) to secure obligations of such Lender, including any pledge or assignment to secure obligations to a Federal Reserve Bank or any other relevant central bank; provided that no such pledge or
assignment shall release such Lender from any of its obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto. 

(g) Electronic Execution of Assignments. The words “execution,” “signed,” “signature,” and words of like
import in any Assignment and Assumption shall be deemed to include electronic signatures or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed signature or
the use of 

  
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a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act,
the New York State Electronic Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. 

11.07 Treatment of Certain Information; Confidentiality. Each of the Administrative Agent and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its Affiliates and to its and its Affiliates’ respective partners, directors, officers, employees, agents, advisors and representatives
(it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority
purporting to have jurisdiction over it or any of its Affiliates (including any self-regulatory authority, such as the National Association of Insurance Commissioners), (c) in any legal, judicial, administrative proceeding or in accordance with a
judicial or other governmental order, subpoena, interrogatory, discovery request, investigative demand or other legal process or as required by applicable law or regulations (in which case the Administrative Agent or such Lender shall promptly
notify the Borrower in writing, in advance, and give the Borrower the opportunity to seek confidential treatment of the information prior to such disclosure, to the extent permitted by law), (d) to any other party hereto, (e) in connection with
the exercise of any remedies hereunder or under any other Loan Document or any action or proceeding relating to this Agreement or any other Loan Document or the enforcement of rights hereunder or thereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement or (ii) any actual or
prospective counterparty (or its advisors) to any Securitization, swap or derivative transaction relating to the Borrower and its obligations, or any Subsidiary and its obligations, or any credit insurance provider relating to the Borrower and its
Obligations, (g) with the consent of the Borrower, (h) to rating agencies or, on a confidential basis, to the CUSIP Service Bureau or any similar agency in connection with the issuance and monitoring of CUSIP numbers with respect to the
Loans or (i) to the extent such Information (x) becomes publicly available other than as a result of a breach of this Section or (y) becomes available to the Administrative Agent, any Lender or any of their respective Affiliates on a
nonconfidential basis from a source other than the Borrower or any of its Subsidiaries. 
 For purposes of this Section,
“Information” means all information received from the Borrower or any Subsidiary relating to the Borrower or any Subsidiary or any of their respective businesses, other than any such information that is available to the
Administrative Agent, or any Lender on a nonconfidential basis prior to disclosure by the Borrower or any Subsidiary; provided that, in the case of information received from the Borrower or any Subsidiary after the date hereof, such
information is clearly identified at the time of delivery as confidential or should, because of its nature, reasonably be understood to be confidential. Any Person required to maintain the confidentiality of Information as provided in this Section
shall be considered to have complied with its obligation to do so if such Person has exercised the same degree of care to maintain the confidentiality of such Information as such Person would accord to its own confidential information. 

  
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 Each of the Administrative Agent and the Lenders acknowledges that (a) the Information may
include material non-public information concerning the Borrower or a Subsidiary, as the case may be, (b) it has developed compliance procedures regarding the use of material
non-public information and (c) it will handle such material non-public information in accordance with applicable Law, including Federal and state securities Laws.

 11.08 Right of Setoff. If an Event of Default shall have occurred and be continuing, each Lender 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) at any time held and other obligations (in whatever
currency) at any time owing by such Lender to or for the credit or the account of any Loan Party against any and all of the obligations of any Loan Party now or hereafter existing under this Agreement or any other Loan Document to such Lender,
irrespective of whether or not such Lender shall have made any demand under this Agreement or any other Loan Document and although such obligations of any Loan Party may be contingent or unmatured or are owed to a branch or office of such Lender
different from the branch or office holding such deposit or obligated on such indebtedness. The rights of each Lender under this Section are in addition to other rights and remedies (including other rights of setoff) that such Lender may have. Each
Lender agrees to notify the applicable Loan Party and the Administrative Agent promptly after any such setoff and application, provided that the failure to give such notice shall not affect the validity of such setoff and application.
Notwithstanding the foregoing, if any Defaulting Lender shall exercise any such right of setoff, (i) all amounts so set off shall be paid over immediately to the Administrative Agent for further application in accordance with the provisions of
this Agreement and, pending such payment, shall be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders and (ii) the Defaulting Lender shall provide
promptly to the Administrative Agent a statement describing in reasonable detail the obligations owing to such Defaulting Lender as to which it exercised such right of set off. 

11.09 Interest Rate Limitation. Notwithstanding anything to the contrary contained in any Loan Document, the interest paid or agreed to
be paid under the Loan Documents shall not exceed the maximum rate of non-usurious interest permitted by applicable Law (the “Maximum Rate”). If the Administrative Agent or any Lender shall
receive interest in an amount that exceeds the Maximum Rate, the excess interest shall be applied to the principal of the Loans or, if it exceeds such unpaid principal, refunded to the Borrower or any Designated Borrower. In determining whether the
interest contracted for, charged, or received by the Administrative Agent or a Lender exceeds the Maximum Rate, such Person may, to the extent permitted by applicable Law, (a) characterize any payment that is not principal as an expense, fee,
or premium rather than interest, (b) exclude voluntary prepayments and the effects thereof, and (c) amortize, prorate, allocate, and spread in equal or unequal parts the total amount of interest throughout the contemplated term of the
Obligations hereunder. 
 11.10 Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by
different parties hereto in different counterparts), each of which shall be deemed an original, but all of which when taken together shall constitute a single contract. This Agreement and the other Loan Documents constitute the entire contract among
the parties relating to the subject matter hereof and supersede any and all previous agreements and 

  
 75 

 
understandings, oral or written, relating to the subject matter hereof. Except as provided in Section 4.01, this Agreement shall become effective when it shall have been
executed by the Administrative Agent and when the Administrative Agent shall have received counterparts hereof that, when taken together, bear the signatures of each of the other parties hereto. Delivery of an executed counterpart of a signature
page of this Agreement by email or facsimile transmission shall be effective as delivery of a manually executed counterpart of this Agreement. 

11.11 Survival. All covenants, agreements, representations and warranties made by any Loan Party herein and in the certificates or
other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans,
regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent, or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any
credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount or Obligation payable under this Agreement is outstanding and unpaid and so long
as the Commitments have not expired or terminated. 
 11.12 Severability. If any provision of this Agreement or the other Loan
Documents is held to be illegal, invalid or unenforceable, (a) the legality, validity and enforceability of the remaining provisions of this Agreement and the other Loan Documents shall not be affected or impaired thereby and (b) the
parties shall endeavor in good faith negotiations to replace the illegal, invalid or unenforceable provisions with valid provisions the economic effect of which comes as close as possible to that of the illegal, invalid or unenforceable provisions.
The invalidity of a provision in a particular jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction. 

11.13 Replacement of Lenders. If any Lender requests compensation under Section 3.04, or if the
Borrower is required to pay (or will be required to pay) any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 3.01 or if any Lender determines pursuant to
Section 3.02 that it is not permitted to make Eurocurrency Rate Loans, or if any Lender is a Defaulting Lender, or if any Lender declines to approve any waiver, amendment or modification of this Agreement or any Loan
Document that requires approval of all Lenders pursuant to Section 11.01 or if any other circumstance exists hereunder that gives the Borrower the right to replace a Lender as a party hereto, then the Borrower may, at its
sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions contained in, and consents required by,
Section 11.06), all of its interests, rights and obligations under this Agreement and the related Loan Documents to an assignee that shall assume such obligations (which assignee may be another Lender, if a Lender accepts
such assignment), provided that: (a) the Borrower shall have paid to the Administrative Agent the assignment fee specified in Section 11.06(b); (b) such Lender shall have received payment of an amount equal to
the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder and under the other Loan Documents (including any amounts under Section 3.05) from the assignee
(to the extent of such outstanding principal and accrued interest and fees) or the Borrower (in the case of all other amounts); (c) in the case of any such assignment resulting from a claim for compensation under
Section 3.04 or 

  
 76 

 
payments required to be made pursuant to Section 3.01, such assignment will result in a reduction in such compensation or payments thereafter; and (d) such
assignment does not conflict with applicable Laws. A Lender shall not be required to make any such assignment or delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the circumstances entitling the Borrower to require
such assignment and delegation cease to apply. 
 11.14 Governing Law; Jurisdiction; Etc. 

(a) GOVERNING LAW. THIS AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAW OF THE STATE OF NEW YORK. 

(b) SUBMISSION TO JURISDICTION. EACH PARTY HERETO IRREVOCABLY AND UNCONDITIONALLY SUBMITS, FOR ITSELF AND ITS PROPERTY, TO THE
EXCLUSIVE JURISDICTION OF THE UNITED STATES DISTRICT COURT OF THE SOUTHERN DISTRICT SITTING IN NEW YORK COUNTY (OR, IN THE EVENT SUCH COURT LACKS SUBJECT MATTER JURISDICTION, ANY COURT OF THE STATE OF NEW YORK SITTING IN NEW YORK COUNTY) AND ANY
APPELLATE COURT FROM ANY THEREOF, IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, OR FOR RECOGNITION OR ENFORCEMENT OF ANY JUDGMENT, AND EACH OF THE PARTIES HERETO IRREVOCABLY AND UNCONDITIONALLY
AGREES THAT ALL CLAIMS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING MAY BE HEARD AND DETERMINED IN SUCH NEW YORK STATE COURT OR, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, IN SUCH FEDERAL COURT. EACH OF THE PARTIES HERETO AGREES THAT A FINAL
JUDGMENT IN ANY SUCH ACTION OR PROCEEDING SHALL BE CONCLUSIVE AND MAY BE ENFORCED IN OTHER JURISDICTIONS BY SUIT ON THE JUDGMENT OR IN ANY OTHER MANNER PROVIDED BY LAW. 

(c) WAIVER OF VENUE. EACH PARTY HERETO 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 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. EACH OF THE
PARTIES HERETO 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) SERVICE OF PROCESS. EACH PARTY HERETO IRREVOCABLY CONSENTS TO SERVICE OF PROCESS IN THE MANNER PROVIDED FOR NOTICES IN SECTION
11.02. NOTHING IN THIS AGREEMENT WILL AFFECT THE RIGHT OF ANY PARTY HERETO TO SERVE PROCESS IN ANY OTHER MANNER PERMITTED BY APPLICABLE LAW. 

  
 77 

 11.15 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 OR 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 PERSON HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PERSON 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. 
 11.16 No Advisory or Fiduciary Responsibility. In connection with all
aspects of each transaction contemplated hereby, the Borrower acknowledges and agrees that (except, with respect to clauses (ii) and (iii) below, as expressly set forth in any other engagement agreement between the Borrower and/or
any of its Affiliates, on the one hand, and the Administrative Agent, any Syndication Agent, any Documentation Agent, any Lender or any Arranger, on the other hand): (i) the credit facility provided for hereunder and any related arranging or other
services in connection therewith (including in connection with any amendment, waiver or other modification hereof or of any other Loan Document) are an arm’s-length commercial transaction between the
Borrower and its Affiliates, on the one hand, and the Administrative Agent, the Lenders and the Arrangers, on the other hand, and the Borrower is capable of evaluating and understanding and understands and accepts the terms, risks and conditions of
the transactions contemplated hereby and by the other Loan Documents (including any amendment, waiver or other modification hereof or thereof); (ii) in connection with the process leading to such transaction, the Administrative Agent, the
Syndication Agents, the Documentation Agents, the Lenders and the Arrangers each is and has been acting solely as a principal and is not the financial advisor, agent or fiduciary, for the Borrower or any of its Affiliates, stockholders, creditors or
employees or any other Person; (iii) neither the Administrative Agent, any Syndication Agent, any Documentation Agent, any Lender nor any other Arrangers have assumed or will assume an advisory, agency or fiduciary responsibility in favor of
the Borrower with respect to any of the transactions contemplated hereby or the process leading thereto, including with respect to any amendment, waiver or other modification hereof or of any other Loan Document (irrespective of whether the
Administrative Agent, the Syndication Agents, the Documentation Agents, the Lenders or the Arrangers have advised or are currently advising the Borrower or any of its Affiliates on other matters) and neither the Administrative Agent, any Syndication
Agent, any Documentation Agent, any Lender nor any other Arranger has any obligation to the Borrower or any of its Affiliates with respect to the transactions contemplated hereby except those obligations expressly set forth herein and in the other
Loan Documents; (iv) the Administrative Agent, the Syndication Agents, the Documentation Agents, the Lenders and the Arrangers and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ
from those of the Borrower and its Affiliates, and neither the Administrative Agent, any Syndication Agent, any Documentation Agent, any Lender nor any other Arranger has any obligation to disclose any of such interests by virtue of any advisory,
agency or fiduciary relationship; and (v) the Administrative Agent, the Syndication Agents, the Documentation Agents, the Lenders and the other Arrangers have not provided and will not 

  
 78 

 
provide any legal, accounting, regulatory or tax advice with respect to any of the transactions contemplated hereby (including any amendment, waiver or other modification hereof or of any other
Loan Document) and the Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed appropriate. The Borrower hereby waives and releases, to the fullest extent permitted by law, any claims that it may
have against the Administrative Agent, the Syndication Agents, the Documentation Agents, the Lenders and the other Arrangers with respect to any breach or alleged breach of agency or fiduciary duty. 

11.17 USA PATRIOT Act Notice. Each Lender that is subject to the Patriot Act (as hereinafter defined) and the Administrative
Agent (for itself and not on behalf of any Lender) hereby notifies the Borrower that pursuant to the requirements of the USA PATRIOT Act (Title III of Pub. L. 107-56 (signed into law October 26, 2001))
(the “Patriot Act”), it is required to obtain, verify and record information that identifies each Loan Party, which information includes the name and address of each Loan Party and other information that will allow such Lender or
the Administrative Agent, as applicable, to identify each Loan Party in accordance with the Patriot Act. 
 11.18 Termination of Joinder
Agreements. Following written notice from the Borrower to the Administrative Agent that it wishes to terminate any Subsidiary’s designation as a Designated Borrower and upon payment in full of all Obligations of such Designated Borrower,
any Joinder Agreement entered by such Designated Borrower with respect to this Agreement shall be deemed to have been terminated, and all guaranty obligations of the Borrower under Article X in respect of such Designated Borrower shall be terminated
as of the date of the termination of such Joinder Agreement but subject to the second paragraph of Section 10.01. 
 11.19
Acknowledgement and Consent to Bail-In of EEA Financial Institutions. Notwithstanding anything to the contrary in any Loan Document or in any other agreement, arrangement or understanding among any such
parties, each party hereto acknowledges that any liability of any EEA Financial Institution arising under any Loan Document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of an EEA Resolution
Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a) the application of any Write-Down and Conversion
Powers by an EEA Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an EEA Financial Institution; and 

(b) the effects of any Bail-In Action on any such liability, including, if applicable: 

(i) a reduction in full or in part or cancellation of any such liability; 

(ii) a conversion of all, or a portion of, such liability into shares or other instruments of ownership in such EEA Financial Institution, its
parent entity, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with respect to any such liability under this Agreement
or any other Loan Document; or 
 (iii) the variation of the terms of such liability in connection with the exercise of the Write-Down and
Conversion Powers of any EEA Resolution Authority. 

  
 79 

 (Remainder of Page Intentionally Left Blank) 

  
 80 

 IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the
date first above written. 
  

			
	PAYPAL HOLDINGS, INC.
		
	By:	 	 /s/ Anthony Glasby

	Name:	 	Anthony Glasby
	Title:	 	Treasurer
	
	PAYPAL, INC.
		
	By:	 	 /s/ Anthony Glasby

	Name:	 	Anthony Glasby
	Title:	 	Treasurer

  
 PayPal Credit
Agreement Signature Page 

 
			
	JPMORGAN CHASE BANK, N.A., as
	Administrative Agent and Lender
		
	By:	 	 /s/ Bruce Borden

	Name:	 	Bruce Borden
	Title:	 	Executive Director

  
 PayPal Credit
Agreement Signature Page 

 
			
	GOLDMAN SACHS BANK USA, as Lender

  

			
	By:	 	 /s/ Thomas M. Manning

	Name:	 	Thomas M. Manning
	Title:	 	Authorized Signatory

  
 PayPal Credit
Agreement Signature Page 

 
			
	MORGAN STANLEY BANK, N.A., as Lender
		
	By:	 	 /s/ Subhalakshmi Ghosh-Kohli

	Name:	 	Subhalakshmi Ghosh-Kohli
	Title:	 	Authorized Signatory

  
 PayPal Credit
Agreement Signature Page 

 
			
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD., as Lender
		
	By:	 	 /s/ Lillian Kim

	Name:	 	Lillian Kim
	Title:	 	Director

  
 PayPal Credit
Agreement Signature Page 

 
			
	HSBC BANK USA, N.A., as Lender
		
	By:	 	 /s/ David Wagstaff

	Name:	 	David Wagstaff
	Title:	 	Managing Director

  
 PayPal Credit
Agreement Signature Page 

 SCHEDULE 2.01 

COMMITMENTS 
 AND
APPLICABLE PERCENTAGES 
  

									
	 Lender
	  	Commitment	 	  	Applicable
Percentage	 
	 JPMorgan Chase Bank, N.A.
	  	$	775,000,000	 	  	 	25.833333333	% 
	 Goldman Sachs Bank USA
	  	$	775,000,000	 	  	 	25.833333333	% 
	 Morgan Stanley Bank, N.A.
	  	$	775,000,000	 	  	 	25.833333333	% 
	 The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	  	$	337,500,000	 	  	 	11.250000000	% 
	 HSBC Bank USA, National Association
	  	$	337,500,000	 	  	 	11.250000000	% 
	 Total
	  	$	3,000,000,000	 	  			

  
 1 

Schedule 2.01 

 SCHEDULE 7.01 

EXISTING LIENS 
  

	1.	None. 

  
 1 

Schedule 7.01 

 SCHEDULE 11.02 

ADMINISTRATIVE AGENT’S OFFICE; 

CERTAIN ADDRESSES FOR NOTICES 
 BORROWER
OR ANY DESIGNATED BORROWER: 
 PayPal Holdings, Inc. 
 2211
N. First Street 
 San Jose, CA 95131 

			
	Attention:	  	Anthony Glasby
	Telephone:	  	(408) 967-5488
	Telecopier:	  	(408) 967-9918
	Electronic Mail:	  	tglasby@paypal.com, with a copy to girish.murthy@paypal.com

 With a copy to: 
 PayPal
Holdings, Inc. 
 2211 N. First Street 
 San Jose, CA 95131 

			
	Attention:	  	General Counsel
	Telecopier:	  	(408) 376-7514

 With a copy to: 
 Skadden, Arps,
Slate, Meagher & Flom LLP 
 300 South Grand Avenue 

Los Angeles, California 90071 

			
	Attention:	  	Kristine Dunn
	Telephone:	  	(213) 687-5493
	Telecopier:	  	(213) 621-5493
	Electronic Mail:	  	kristine.dunn@skadden.com

  
 1 

Schedule 11.02 

 ADMINISTRATIVE AGENT: 

Administrative Agent 
 JPMorgan Chase Bank 

Loan and Agency Services Group 
 500 Stanton Christiana Road, Ops
2, Floor 3 
 Newark, Delaware 19713 

			
	Attention:	  	Kristen Bazink
	Telephone:	  	302-634-2633
	Electronic Mail1:	  	12012443629@tls.ldsprod.com, with a copy to kristen.bazink@chase.com

  

			
	Account Name:	  	LS2 Incoming Account
	Account No.:	  	9008113381H3707
	Reference:	  	PayPal Holdings, Inc.
	Attention:	  	Kristen Bazink
	ABA No.:	  	021000021

 With a copy to: 
 JPMorgan Chase
Bank 
 383 Madison Avenue, 24th Floor 

New York 10179 

			
	Attention:	  	Bruce Borden
	Telephone:	  	212-270-5799
	Electronic Mail:	  	bruce.s.borden@jpmorgan.com

  

	1 	Notices sent via electronic mail must be sent in .pdf format. 

  
 2 

Schedule 11.02 

 EXHIBIT A 

FORM OF COMMITTED LOAN NOTICE 

Date: [                    ] 

 

	To:	JPMorgan Chase Bank, N.A., as Administrative Agent 

 Ladies and Gentlemen: 

Reference is made to that certain 364-Day Credit and Guarantee Agreement, dated as of December 5,
2017 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among PayPal Holdings, Inc., a Delaware
corporation (the “Borrower”), PayPal, Inc., a Delaware corporation, the Designated Borrowers from time to time parties thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 

The undersigned hereby requests (select one): 
  

			
	☐  A Borrowing of Loans	  	☐  A conversion or continuation of Loans

  

	 	1.	On
                                         
    (a Business Day). 

  

	 	2.	In the amount of $                        . 

 

	 	3.	Comprised of:
                                    . 

[Type of Loan requested] 
  

	 	4.	For Eurocurrency Rate Loans: with an Interest Period of              months. 

 

			
	[PAYPAL HOLDINGS, INC.][DESIGNATED BORROWER]

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 A-1 

Form of Committed Loan Notice 

 EXHIBIT B 

FORM OF NOTE 
  

					
	[DATE]	  	 	$[            ]	 

 FOR VALUE RECEIVED, the undersigned (the “[Designated] Borrower”) hereby promises to pay to
[            ] or registered assigns (the “Lender”), in accordance with the provisions of the Agreement (as hereinafter defined), the principal amount of each Loan from
time to time made by the Lender to the [Designated] Borrower under that certain 364-Day Credit and Guarantee Agreement, dated as of December 5, 2017 (as amended, restated, amended and restated, extended,
supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among [PayPal Holdings, Inc., as Borrower][the Borrower], PayPal, Inc., the
Designated Borrowers from time to time parties thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 

The [Designated] Borrower promises to pay interest on the unpaid principal amount of each Loan from the date of such Loan until such principal
amount is paid in full, at such interest rates and at such times as provided in the Agreement. All payments of principal and interest shall be made to the Administrative Agent for the account of the Lender in U.S. Dollars in immediately available
funds at the Administrative Agent’s Office. If any amount is not paid in full when due hereunder, such unpaid amount shall bear interest, to be paid upon demand, from the due date thereof until the date of actual payment (and before as well as
after judgment) computed at the per annum rate set forth in the Agreement. 
 This Note is one of the Notes referred to in the Agreement, is
entitled to the benefits thereof and may be prepaid in whole or in part subject to the terms and conditions provided therein. Upon the occurrence and continuation of one or more of the Events of Default specified in the Agreement, all amounts then
remaining unpaid on this Note shall become, or may be declared to be, immediately due and payable all as provided in the Agreement. Loans made by the Lender shall be evidenced by one or more loan accounts or records maintained by the Lender in the
ordinary course of business. The Lender may also attach schedules to this Note and endorse thereon the date, amount and maturity of its Loans and payments with respect thereto. 

The [Designated] Borrower, for itself, its successors and assigns, hereby waives diligence, presentment, protest and demand and notice of
protest, demand, dishonor and non-payment of this Note. 
 (Remainder of Page Intentionally Left
Blank) 

  
 B-1 

Form of Note 

 THIS NOTE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW
YORK. 
  

			
	[PAYPAL HOLDINGS, INC.][DESIGNATED BORROWER]

 
			
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  
 B-2 

Form of Note 

 LOANS AND PAYMENTS WITH RESPECT THERETO 

 

													
	 Date
	 	 Type of
Loan

Made
	 	 Amount of

Loan
 Made
	  	 End of

Interest

Period
	  	 Amount of
Principal

or Interest
 Paid
This
 Date
	  	 Outstanding
Principal
Balance

This Date
	  	 Notation

Made by

		 		 		  		  		  		  	
		 		 		  		  		  		  	
		 		 		  		  		  		  	
		 		 		  		  		  		  	
		 		 		  		  		  		  	

  
 B-3 

Form of Note 

 EXHIBIT C 

FORM OF COMPLIANCE CERTIFICATE 

Financial Statement Date:
                                    ,     
        
  

	To:	JPMorgan Chase Bank, N.A., as Administrative Agent 

 Ladies and Gentlemen: 

Reference is made to that certain 364-Day Credit and Guarantee Agreement, dated as of December 5, 2017 (as
amended, restated, amended and restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among PayPal Holdings, Inc., a
Delaware corporation (the “Borrower”), PayPal, Inc., a Delaware corporation, the Designated Borrowers from time to time parties thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative
Agent. 
 The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the
                                     of the Borrower, and that, as
such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that: 
 [Use following
paragraph 1 for fiscal year-end financial statements] 
 1. The Borrower has delivered the year-end audited financial statements required by Section 6.01(a) of the Agreement for the fiscal year of the Borrower ended as of the above date, together with the report and opinion of an
independent certified public accountant to the extent required by such section. 
 [Use following paragraph 1 for fiscal quarter-end financial statements] 
 1. The Borrower has delivered the unaudited financial statements
required by Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly present in all material respects the financial condition, results of
operations, Stockholders’ Equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP as at such date and for such period, subject only to normal year-end audit adjustments and the
absence of footnotes. 
 2. To the best knowledge of the undersigned: 

[select one:] 
 [during such
fiscal period, the Borrower performed and observed each covenant and condition of the Loan Documents applicable to it, and no Default has occurred and is continuing.] 

—or— 

  
 C-1 

Form of Compliance Certificate 

 [during such fiscal period, the following covenants or conditions have not been performed or observed and the
following is a list of each such Default and its nature and status:] 
 3. The financial covenant analyses and information set forth on Schedules
1 and 2 attached hereto are true and accurate on and as of the date of this Certificate. 
 IN WITNESS WHEREOF, the undersigned has
executed this Certificate as 
 of
                    ,
                    . 

			
	PAYPAL HOLDINGS, INC.
		
	By:	 	
                 

	Name:	 	
                 

	Title:	 	
                 

  
 C-2 

Form of Compliance Certificate 

 For the Quarter/Year ended
                 (“Statement Date”) 

SCHEDULE 1 
 to the
Compliance Certificate 
 ($ in 000’s) 
  

									
	 I.
	  	 Section 7.04(a) — Consolidated Interest Coverage Ratio.
	  			
				
		  	A.	  	 Consolidated EBITDA for four consecutive fiscal quarters ending on Statement Date
(“Subject Period”):
	  	$	                        	 
				
		  	1.	  	 Consolidated Net Income for Subject Period:
	  	$	                        	 
				
		  	2.	  	 Interest expense for Subject Period:
	  	$	                        	 
				
		  	3.	  	 Depreciation and amortization expense (including amortization or impairment of Intangible
Assets for Acquisitions or Dispositions) for Subject Period:
	  	$	                        	 
				
		  	4.	  	 Income tax expense for Subject Period:
	  	$	                        	 
				
		  	5.	  	 Non-cash charges or expenses related to equity plans or
equity awards for Subject Period:
	  	$	                        	 
				
		  	6.	  	 Payroll taxes on exercise of stock options or vesting of restricted stock units or other equity
awards for Subject Period:
	  	$	                        	 
				
		  	7.	  	 Impairment of goodwill for Subject Period:
	  	$	                        	 
				
		  	8.	  	 Extraordinary losses from Acquisitions or Dispositions for Subject Period:
	  	$	                        	 
				
		  	9.	  	 Transaction expenses from Acquisitions and Dispositions for Subject Period:
	  	$	                        	 
				
		  	10.	  	 Non-cash restructuring charges and other non-cash exit and disposal costs1:
	  	$	                        	 
				
		  	11.	  	 Extraordinary gains from Acquisitions and Dispositions for Subject Period:
	  	$	                        	 
				
		  	12.	  	 Reversals of non-cash restructuring charges and other non-cash exit and disposal costs:
	  	$	                        	 

  

	1 	There shall be a subtraction from Consolidated EBITDA when cash payments in respect of such restructuring charges and exit and disposal costs are made. 

  
 C-3 

Form of Compliance Certificate 

									
		  	13.	 	 Consolidated EBITDA (Lines I.A.1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 + 9 + 10 - 11 - 12):
	  	 	$                        	 
				
		  	B.	 	 Consolidated Interest Expense for Subject Period:
	  	 	$                        	 
				
		  	C.	 	 Consolidated Interest Coverage Ratio as of Statement Date (Line I.A.13 ÷ Line
I.B):
	  	 	                          	 
				
		  	(i)	 	 Minimum permitted:
	  	 	3.00 to 1.00	
				
		  	(ii)	 	 Covenant Compliance?2 
	  	 	YES / NO / N/A	 
			
	 II.
	  	 Section 7.04(b) — Consolidated Leverage Ratio.
	  			
				
		  	A.	 	 Consolidated Total Debt as of Statement Date:
	  	 	$                        	 
				
		  	B.	 	 Consolidated Leverage Ratio as of Statement Date (Line II.A ÷ Line I.A.13):
	  	 	                          	 
				
		  	(i)	 	 Maximum permitted:
	  	 	3.50 to 1.00	 
				
		  	(ii)	 	 Covenant Compliance?
	  	 	YES / NO	 

  
  

	2 	Covenant to comply with the Consolidated Interest Coverage Ratio shall cease to apply if the Borrower achieves the Release Condition Ratings, in each case with a stable or better outlook, but shall be reinstated if the
Index Debt Rating of the Borrower shall be downgraded below the Release Condition Ratings. 

  
 C-4 

Form of Compliance Certificate 

 For the Quarter/Year ended
                     (“Statement Date”) 

SCHEDULE 2 
 to the
Compliance Certificate 
 ($ in 000’s) 

Consolidated EBITDA 
 (in
accordance with the definition of Consolidated EBITDA 
 as set forth in the Agreement) 

 

															
	 Consolidated
EBITDA
	  	Quarter
Ended	 	  	Quarter
Ended	 	  	 Quarter
Ended
	  	 Quarter
Ended
	  	 Twelve
Months
Ended

	 Consolidated Net Income
	  				  				  		  		  	
	 + interest expense
	  				  				  		  		  	
	 + depreciation and amortization expense (including amortization or impairment of Intangible Assets
for Acquisitions or Dispositions)
	  				  				  		  		  	
	 + income tax expense
	  				  				  		  		  	
	 + non-cash charges or expenses relating to equity plans or
equity awards
	  				  				  		  		  	
	 + payroll taxes on exercise of stock options or vesting of restricted stock units or other equity
awards
	  				  				  		  		  	
	 + impairment of goodwill:
	  				  				  		  		  	
	 + extraordinary losses from Acquisitions and Dispositions:
	  				  				  		  		  	
	 + transaction expenses from Acquisitions and Dispositions:
	  				  				  		  		  	

  
 C-5 

Form of Compliance Certificate 

															
	 + non-cash restructuring charges and other non-cash exit and disposal costs3:
	  				  				  		  		  	
	 - extraordinary gains from Acquisitions and Dispositions:
	  				  				  		  		  	
	 - reversals of non-cash restructuring charges and other non-cash exit and disposal costs:
	  				  				  		  		  	
	 = Consolidated EBITDA
	  				  				  		  		  	

  
  

	3 	There shall be a subtraction from Consolidated EBITDA when cash payments in respect of such restructuring charges and exit and disposal costs are made. 

  
 C-6 

Form of Compliance Certificate 

 EXHIBIT D 

ASSIGNMENT AND ASSUMPTION 

This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and is
entered into between the Assignor named below (the “Assignor”) and the Assignee named below (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to them in the 364-Day Credit and Guarantee Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set
forth in Annex 1 attached hereto are hereby agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 

For an agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases
and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit Agreement, as of the Effective Date inserted by the Administrative Agent below (i) all of the Assignor’s rights and
obligations in its capacity as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant thereto to the extent related to the amount and percentage interest identified below of all of such outstanding rights and
obligations of the Assignor under the respective facilities identified below (including any letters of credit, guarantees, and swingline loans included in such facilities) and (ii) to the extent permitted to be assigned under applicable law,
all claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments
delivered pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in equity
related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

 

					
	1.	    	Assignor: 	  	                                      
  
		    		  	                                      
  
			
	2.	    	Assignee:	  	                                      
  
		    		  	                                      
  
		    	[and is an Affiliate/Approved Fund of [identify Lender]1]

  

	3.	Borrower: PayPal Holdings, Inc. 

  

	4.	Administrative Agent: JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement 

 

	1 	Select as applicable. 

  
 D - 1 

Form of Assignment and Assumption 

	5.	Credit Agreement: 364-Day Credit and Guarantee Agreement, dated as of December 5, 2017, among PayPal Holdings, Inc., PayPal, Inc., the Designated Borrowers from time
to time parties thereto, the Lenders from time to time party thereto and JPMorgan Chase Bank, N.A., as Administrative Agent. 

  

	6.	Assigned Interest[s] 

  

									
	 Aggregate Amount of
 Commitment/Loans
for
 all Lenders
	  	Amount of
Commitment/Loans
Assigned	 	  	Percentage Assigned of
Commitment/Loans2	 
	 $            
	  	$	            	 	  	 	    	% 
	 $            
	  	$	            	 	  	 	    	% 
	 $            
	  	$	            	 	  	 	    	% 

 Effective
Date:                    , 20     [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.] 
 The Assignee agrees to deliver to the Administrative Agent a completed administrative questionnaire
in which the Assignee designates one or more credit contacts to whom all syndicate-level information (which may contain material non-public information about the Borrower, the Loan Parties and their Affiliates
or their respective securities) will be made available and who may receive such information in accordance with the Assignee’s compliance procedures and applicable laws, including federal and state securities laws. 

The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	
	[NAME OF ASSIGNOR]

 
			
		
	By:	 	  

	Title:	 	

 
			
	
	ASSIGNEE
	
	[NAME OF ASSIGNEE]

 
			
		
	By:	 	  

	Title:	 	

 [Consented to and]3 Accepted: 

 

	2 	Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders. 

	3 	To be added only if the consent of the Administrative Agent is required by the terms of the Credit Agreement. 

  
 D - 2 

Form of Assignment and Assumption 

			
	 JPMORGAN CHASE BANK, N.A., as

  Administrative Agent

			
		
	By:	 	  

	Title:	 	

			
	
	[Consented to:]4
	
	PAYPAL HOLDINGS, INC.

			
		
	By:	 	  

	Title:	 	

  

	4 	To be added only if the consent of the Borrower is required by the terms of the Credit Agreement. 

  
 D - 3 

Form of Assignment and Assumption 

 ANNEX 1 TO ASSIGNMENT AND ASSUMPTION 

PAYPAL HOLDINGS, INC. 364-DAY CREDIT AND GUARANTEE AGREEMENT 

DATED AS OF DECEMBER 5, 2017 

STANDARD TERMS AND CONDITIONS FOR 

ASSIGNMENT AND ASSUMPTION 
 1.
Representations and Warranties. 
 1.1. Assignor. The Assignor (a) represents and warrants that (i) it is the legal
and beneficial owner of the Assigned Interest, (ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and
deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit
Agreement or any other Loan Document, (ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Loan Documents or any collateral thereunder, (iii) the financial condition of the Borrower, any of its
Subsidiaries or Affiliates or any other Person obligated in respect of any Loan Document or (iv) the performance or observance by the Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations
under any Loan Document. 
 1.2. Assignee. The Assignee (a) represents and warrants that (i) it has full power and
authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it satisfies the requirements,
if any, specified in the Credit Agreement that are required to be satisfied by it in order to acquire the Assigned Interest and become a Lender, (iii) from and after the Effective Date, it shall be bound by the provisions of the Credit
Agreement as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements
delivered pursuant to Section 6.01 thereof, and such other documents and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the
Assigned Interest on the basis of which it has made such analysis and decision independently and without reliance on the Administrative Agent or any other Lender and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is
any documentation required to be delivered by it pursuant to the terms of the Credit Agreement, duly completed and executed by the Assignee and (b) agrees that (i) it will, independently and without reliance on the Administrative Agent,
the Assignor or any other Lender, and based on such documents and information as it shall deem appropriate at the time, continue to make its own credit decisions in taking or not taking action under the Loan Documents and (ii) it will perform
in accordance with their terms all of the obligations which by the terms of the Loan Documents are required to be performed by it as a Lender. 

  
 D - 4 

Form of Assignment and Assumption 

 2. Payments. From and after the Effective Date, the Administrative Agent shall make all
payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts which have accrued to but excluding the Effective Date and to the Assignee for amounts which have accrued
from and after the Effective Date. 
 3. General Provisions. This Assignment and Assumption shall be binding upon, and inure to the
benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed counterpart of a
signature page of this Assignment and Assumption by email or telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the law of the State of New York. 

  
 D - 5 

Form of Assignment and Assumption 

 EXHIBIT E 

[FORM OF] 
 U.S. TAX COMPLIANCE
CERTIFICATE 
 (For Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the 364-Day Credit and Guarantee Agreement dated as of December 5,
2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”), PayPal, Inc., a
Delaware corporation, the Designated Borrowers from time to time parties thereto, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and JPMORGAN CHASE BANK, N.A.,
as Administrative Agent. 
 Pursuant to the provisions of Section 3.01 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of its interests in the Loan(s) (as well as any Note(s) evidencing such Loan interest(s)) in respect of which it is providing this certificate, (ii) it is not a bank
within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related
to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the Administrative Agent and the
Borrower with a certificate of its non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E,
as applicable. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the
undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	
                     

	Name:	 	
	Title:	 	

 Date:
                    , 20[    ] 

  
 E - 1 

U.S. Tax Compliance Form of Tax Certificate 

 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the 364-Day Credit and Guarantee Agreement dated as of December 5,
2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”), PayPal, Inc., a
Delaware corporation, the Designated Borrowers from time to time parties thereto, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and JPMORGAN CHASE BANK, N.A.,
as Administrative Agent. 
 Pursuant to the provisions of Section 3.01 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code,
(iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code, and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of
the Code. 
 The undersigned has furnished its participating Lender with a certificate of its
non-U.S. Person status on IRS Form W-8BEN or W-8BEN-E, as applicable. By executing this
certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender
with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit
Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	
                     

	Name:	 	
	Title:	 	

 Date:
                    , 20[    ] 

  
 E - 2 

U.S. Tax Compliance Form of Tax Certificate 

 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the 364-Day Credit and Guarantee Agreement dated as of December 5,
2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”), PayPal, Inc., a
Delaware corporation, the Designated Borrowers from time to time parties thereto, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and JPMORGAN CHASE BANK, N.A.,
as Administrative Agent. 
 Pursuant to the provisions of Section 3.01 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such
participation, (iii) with respect to such participation, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or
business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and
(v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished its participating Lender with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or
W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form
W-8BEN or W-8BEN-E, as applicable, from each of such partner’s/member’s beneficial owners that is claiming the
portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing and (2) the undersigned
shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such
payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in
the Credit Agreement. 
  

			
	[NAME OF PARTICIPANT]
		
	By:	 	
                     

	Name:	 	
	Title:	 	

 Date:
                    , 20[    ] 

  
 E - 3 

U.S. Tax Compliance Form of Tax Certificate 

 [FORM OF] 

U.S. TAX COMPLIANCE CERTIFICATE 

(For Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to 364-Day Credit and Guarantee Agreement dated as of December 5, 2017
(as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”), among PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”), PayPal, Inc., a
Delaware corporation, the Designated Borrowers from time to time parties thereto, each lender from time to time party thereto (collectively, the “Lenders” and individually, a “Lender”) and JPMORGAN CHASE BANK, N.A.,
as Administrative Agent. 
 Pursuant to the provisions of Section 3.01 of the Credit Agreement, the undersigned
hereby certifies that (i) it is the sole record and beneficial owner of its interests in the Loan(s) (as well as any Note(s) evidencing such Loan interest(s)) in respect of which it is providing this certificate, (ii) its direct or
indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other Loan Document, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 871(h)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished the
Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN or W-8BEN-E, as applicable, or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN or W-8BEN-E, as applicable, from each of such partner’s/member’s beneficial owners that is claiming the portfolio
interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the
undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of
the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the Credit Agreement and used herein
shall have the meanings given to them in the Credit Agreement. 
  

			
	[NAME OF LENDER]
		
	By:	 	
                     

	Name:	 	
	Title:	 	

 Date:
                    , 20[    ] 

  
 E - 4 

U.S. Tax Compliance Form of Tax Certificate 

 EXHIBIT F 

JOINDER AGREEMENT 

JOINDER AGREEMENT, dated as of             , 201      (this
“Joinder Agreement”), among              (the “Subsidiary”), PAYPAL HOLDINGS, INC., a Delaware corporation (the “Borrower”) and JPMORGAN
CHASE BANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”) for the several banks and other financial institutions (the “Lenders”) from time to time parties to the 364-Day Credit and Guarantee Agreement, dated as of December 5, 2017 (as amended, restated, amended and restated, supplemented or otherwise modified from time to time, the “Credit Agreement”;
terms defined therein being used herein as therein defined), by and among the Borrower, PayPal, Inc., the Designated Borrowers from time to time parties thereto the Lenders and the Administrative Agent. 

W I T N E S S E T H: 
 WHEREAS,
the parties to this Joinder Agreement wish to add the Subsidiary as the Designated Borrower to the Credit Agreement in the manner hereinafter set forth; and 

WHEREAS, this Joinder Agreement is entered into pursuant to Section 4.03(b) of the Credit Agreement; 

NOW, THEREFORE, in consideration of the premises, the parties hereto hereby agree as follows: 

1. The Subsidiary hereby acknowledges that it has received and reviewed a copy of the Credit Agreement, and acknowledges and agrees to: 

(a) join the Credit Agreement as a Designated Borrower; 

(b) be bound by all covenants, agreements and acknowledgments attributable to the Designated Borrower in the Credit Agreement; and 

(c) perform all obligations and duties required of it by the Credit Agreement. 

2. The Subsidiary hereby represents and warrants that the representations and warranties with respect to it contained in Article V of the
Credit Agreement or which are contained in any certificate furnished by or on behalf of it are true and correct in all material respects on the date hereof. 

3. The address and jurisdiction of organization of the Subsidiary is set forth below: 

 

			
	Address	 	  

		 	  

		 	  

	Attn:	 	  

	Telecopy:	 	

  
 F - 1 

Joinder Agreement 

 
			
	Telephone:	 	
		
	Jurisdiction
 of organization:
	 	  

 4. THIS JOINDER AGREEMENT SHALL BE GOVERNED BY, AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 [REMAINDER OF PAGE INTENTIONALLY
LEFT BLANK] 

  
 F - 2 

Joinder Agreement 

 IN WITNESS WHEREOF, each of the undersigned has caused this Joinder Agreement to be duly executed
and delivered by its duly authorized officer as of the day and year first above written. 
  

			
	 [DESIGNATED BORROWER],
 as the
Designated Borrower

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

 
			
	
	PAYPAL HOLDINGS, INC., as the Borrower

 
			
		
	By:	 	  

	Name:	 	
	Title:	 	

  

			
	ACKNOWLEDGED AND AGREED TO:
	
	 JPMORGAN CHASE BANK, N.A.
 as
Administrative Agent

			
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 F - 3 

Joinder Agreement

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