Document:

EX-4.2

 Exhibit 4.2 

STOCKHOLDERS’ AGREEMENT 

OF 
 5.11 ABR Corp.

 THIS STOCKHOLDERS’ AGREEMENT (the “Agreement”) is made as of August 31, 2016, by and among 5.11 ABR
Corp., a Delaware corporation (the “Company”), Compass Group Diversified Holdings LLC, a Delaware limited liability company (“CODI” and, together with its successors, transferees and assigns, the
“Majority Stockholder”), each of the other stockholders listed on the signature page hereto, and any Additional Holders (as defined herein) from time to time a party hereto. 

RECITALS 

WHEREAS, the Majority Stockholder and the other stockholders listed on the signature page hereto currently own beneficially and of record all
of the outstanding Shares (as defined herein) of the Company; and 
 WHEREAS, the Stockholders and the Company desire to set forth certain
rights, preferences, privileges, obligations and restrictions accorded to and imposed on some or all of the Stockholders; 
 NOW,
THEREFORE, in consideration of the foregoing recitals and the mutual promises herein contained, and for other good and valuable consideration, the sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 

AGREEMENT 

Section 1. Definitions. Whenever used in this Agreement, the following terms shall have the following respective meanings: 

1.1 “Additional Holder” and “Additional Holders” mean any additional Stockholder or
Stockholders, as the case may be, who from time to time become party to this Agreement by signing an Additional Holder Signature Page or who receive Shares pursuant to a Transfer permitted hereunder. 

1.2 “Additional Holder Signature Page” means an Additional Holder signature page in the form attached hereto as
Exhibit A. 
 1.3 “Affiliate” of any particular Person means any other Person that directly or indirectly
through one or more intermediaries, controls, is controlled by, or is under common control with such particular Person. 
 1.4
“Agreement” has the meaning set forth in the first paragraph hereto. 
 1.5 “Arbitration
Rules” has the meaning set forth in Section 6.1(a). 
 1.6 “Board” has the meaning set forth in
Section 2.5(a). 

  
 - 1 - 

 1.7 “Bridge” has the meaning set forth in Section 2.7(d). 

1.8 “Call Option Notice” has the meaning set forth in Section 2.5(b). 

1.9 “Call Option Right” has the meaning set forth in Section 2.5(b). 

1.10 “Cause” shall mean, with respect to any Restricted Stockholder that is an employee of the Company, (i) the
meaning specified in the employment agreement between such Restricted Stockholder and the Company or (ii) if there is no such employment agreement (or if no such meaning is specified therein), the occurrence of one or more of the following by
such Restricted Stockholder: (A) willful violation of the Restricted Stockholder’s fiduciary duties to the Company, including the duty of loyalty and the corporate opportunity doctrine, (B) commission of, the indictment or conviction
for, or the entry of a plea of nolo contendere (or similar plea) to a charge of, (1) any crime involving fraud, dishonesty, misappropriation or embezzlement, or (2) any felony, (C) any violation of law that causes material
injury to the business of the Company or any of its subsidiaries, (D) failure to comply with the Company’s reasonable orders or directives or the Company’s reasonable rules, regulations, policies, procedures or practices that are not
inconsistent with applicable law, which results in material harm to the Company, (E) refusal to comply with the Company’s reasonable orders or directives or the Company’s reasonable rules, regulations, policies, procedures or
practices that are not inconsistent with applicable law, which continues uncured for 10 days following written notice thereof from the Company to the Restricted Stockholder, (F) gross negligence or willful misconduct in connection with the
performance of the Restricted Stockholder’s duties to the Company, and (G) any material breach by the Restricted Stockholder of the employment agreement or non-competition agreement between such
Restricted Stockholder and the Company, and in the case of each of (D) or (G), which, if curable, continues uncured for 30 days following written notice thereof from the Company to such Restricted Stockholder. 

1.11 “CODI” has the meaning set forth in the first paragraph hereto. 

1.12 “Common Stock” means the Company’s common stock, par value $0.001 per share. 

1.13 “Company” has the meaning set forth in the first paragraph hereto. 

1.14 “Confidential Information” means any proprietary, non-public data
or information related to the Company or any of its subsidiaries, including financial data, trade secrets, and other proprietary, non-public information (including technologies, methodologies, customer related
information, pricing and cost information, operational information and business and marketing plans) furnished to or learned by Stockholder or any Affiliate of the Stockholder at any time during such Stockholder’s ownership of capital stock,
options or other ownership interests of the Company. 
 1.15 “Contribution Agreement” means that certain
Contribution Agreement, by and among the Company and the Rollover Investors (as defined therein) party thereto, dated as of July 29, 2016. 

  
 - 2 - 

 1.16 “Control” (including the terms “controls,”
“controlled by” and “under common control with”) means the possession, directly or indirectly, of the power to direct or cause the direction of the management policies of a Person, whether through the ownership of voting
securities, by contract or credit arrangement, as trustee or executor, or otherwise. 
 1.17 “Disposition Notice”
has the meaning set forth in Section 2.4(a). 
 1.18 “Dispute” has the meaning set forth in Section 6.1(a).

 1.19 “Drag Along Stockholder” has the meaning set forth in Section 2.4(b). 

1.20 “Drag Along Right” has the meaning set forth in Section 2.4(b). 

1.21 “Excluded Issuances” has the meaning set forth in Section 2.7(c). 

1.22 “Exempt Transfers” has the meaning set forth in Section 2.3. 

1.23 “Family Members” has the meaning set forth in Section 2.3. 

1.24 “Good Reason” shall mean, with respect to any Restricted Stockholder that is an employee of the Company or any of
its subsidiaries, (i) the meaning specified in the employment agreement between such Restricted Stockholder and the Company or (ii) if there is no such employment agreement (or if no such meaning is specified therein), such Restricted
Stockholder’s resignation from employment with the Company at any time within 90 days following the expiration of the Company cure period (discussed below) following the occurrence of one or more of the following without the Restricted
Stockholder’s written consent: (A) a reduction in the Restricted Stockholder’s base salary (excluding bonuses and all other compensation) below the amount on the date hereof (other than a substantially similar reduction applicable to
all Restricted Stockholders that are employees of the Company), (B) a material diminution in the duties, responsibilities or authority of the Restricted Stockholder such that the Restricted Stockholder is no longer playing the role of an officer of
5.11, Inc., or (C) the Company moves the Restricted Stockholder’s primary location of employment by more than 50 miles from the Restricted Stockholder’s primary location of employment as of the date hereof. Under this Agreement, the
Restricted Stockholder will not be able to resign for Good Reason without first providing the Company with written notice of the acts or omissions constituting the grounds for “Good Reason” within 90 days of the initial existence of the
grounds for “Good Reason” and a reasonable cure period of not less than 30 days following the date of such notice. 
 1.25
“Lender” has the meaning set forth in Section 2.4(a). 
 1.26 “Majority Stockholder”
has the meaning set forth in the first paragraph hereto. 
 1.27 “Merger Agreement” shall mean that certain
Agreement and Plan of Merger, by and among the Company, 5.11 Merger Corp., 5.11 Acquisition Corp. and the Securityholders’ Agent (as defined therein), dated July 29, 2016. 

1.28 “Offer Notice” has the meaning set forth in Section 2.7(a). 

  
 - 3 - 

 1.29 “Person” means an individual, corporation, partnership, bank,
limited liability company, trust, association, unincorporated organization, other entity or group (as defined in Section 13(d)(3) of the Exchange Act). 

1.30 “Permitted Trust Holder” has the meaning set forth in Section 2.3. 

1.31 “Pledge” has the meaning set forth in Section 2.4(a). 

1.32 “Proposed Purchaser” has the meaning set forth in Section 2.7(a). 

1.33 “Proposed Sale” has the meaning set forth in Section 2.4(a). 

1.34 “Restricted Period” means, with respect to any Restricted Stockholder, the period of time commencing on the date
hereof and ending on the date of the final disposition of all of such Restricted Stockholder’s Shares. 
 1.35
“Restricted Stockholder” means each Stockholder other than the Majority Stockholder. 
 1.36
“Securities” has the meaning set forth in Section 2.7(a). 
 1.37 “Securities Act”
means the Securities Act of 1933, as amended, or any similar successor federal statute, all as the same shall be in effect from time to time. 

1.38 “Selling Restricted Stockholder” has the meaning set forth in Section 4.1(a). 

1.39 “Shares” means the issued and outstanding shares of Common Stock and any other series or class of capital stock
of the Company which may from time to time come into existence. 
 1.40 “Stockholder” means any Person who owns
Shares which were not acquired in violation of this Agreement. 
 1.41 “Tag Along Notice” has the meaning set forth
in Section 2.4(c). 
 1.42 “Tag Along Right” has the meaning set forth in Section 2.4(c). 

1.43 “Tag Along Stockholder” has the meaning set forth in Section 2.4(c). 

1.44 “Third Party Purchaser” has the meaning set forth in Section 2.4(b). 

1.45 “Transfer” has the meaning set forth in Section 2.2. 

Section 2. Shares Subject to Agreement: Restrictions; Rights. 

2.1 Shares Subject to Agreement. All Shares, whether currently outstanding or hereafter issued, shall be subject to this Agreement and
to all the rights, privileges, preferences, obligations and restrictions hereof. 

  
 - 4 - 

 2.2 No Transfers. Except as permitted pursuant to Section 2.3 or as required
under Section 2.4 or Section 2.5, and subject to Section 2.6, no Restricted Stockholder shall sell, assign, convey, transfer, encumber or in any other manner dispose of (each, a “Transfer”) any or all of the Shares
held or owned by him, her or it without the prior written consent of the Majority Stockholder, which consent may be withheld in the Majority Stockholder’s absolute discretion. Any Transfer of Shares in violation of this Agreement is void ab
initio. 
 2.3 Exempt Transfers. Notwithstanding anything to the contrary in Section 2.2, a Restricted Stockholder (other
than any Restricted Stockholder who received Shares from another Restricted Stockholder pursuant to a transfer of such Shares that was in violation of this Agreement) may, upon prior written notice to the Majority Stockholder, make an Exempt
Transfer. The following transfers by such Restricted Stockholder shall constitute “Exempt Transfers” as that term is used in this Agreement: (i) Transfers, whether inter vivos or by testate or intestate
succession, to such Restricted Stockholder’s spouse or any one or more lineal ancestors, lineal descendants or siblings (whether by birth, adoption or marriage) of a Restricted Stockholder (collectively, “Family Members”), to
any trust established for the benefit of such Restricted Stockholder and/or any Family Members of such Restricted Stockholder (each, a “Permitted Trust Holder”) and (ii) Transfers from any Permitted Trust Holder established by
or for the benefit of such Restricted Stockholder to such Restricted Stockholder and/or the Family Members of such Restricted Stockholder. The Shares Transferred to any such permitted transferee enumerated in clauses (i) and (ii) of the
preceding sentence shall remain subject to the provisions of this Agreement and such permitted transferee shall become a Restricted Stockholder for purposes of this Agreement. Each transferor in an Exempt Transfer shall cause each transferee to
observe and comply with this Agreement and with all obligations and restrictions imposed hereby and to, promptly upon the request of the Majority Stockholder, execute an Additional Holder Signature Page. 

2.4 Drag Along/Tag Along Rights. The Majority Stockholder shall be permitted to Transfer any or all of the Shares held or owned by it,
subject, however, in the case of Transfers for value, to the following restrictions: 
 (a) Disposition Notice. If the
Majority Stockholder proposes at any time to Transfer for value, whether in a single transaction or in a series of related transactions to one or more purchasers, including any redemption or repurchase of its Shares by the Company, (i) in the
context of Section 2.4(b), all or substantially all of its Shares, or (ii) in the context of Section 2.4(c), but subject to the last sentence of this subsection (a), more than 5% of the then outstanding Shares (determined by dividing
the number of Shares subject to the Transfer by the total number of Shares outstanding (on a fully diluted basis) for all classes and series of capital stock) of the Company (each a “Proposed Sale”) to any Person, then the Majority
Stockholder shall send written notice (the “Disposition Notice”) to the other Stockholders specifying the identity and address of such Person, the number of Shares proposed to be sold, the proposed per Share sale price, the form of
consideration to be paid, any other material terms and conditions of the Proposed Sale and, for bona fide sales subject to Section 2.4(b), if the Majority Stockholder is thereby exercising its Drag Along Right, notice of such exercise
and the number of Shares of such other Stockholder subject to the Drag Along Right. Clause (ii) of this subsection (a) and the provisions of Section 2.4(c) shall not apply to: (A) a

  
 - 5 - 

 
Transfer by the Majority Stockholder to any Person, if the Majority Stockholder or any of its Affiliates Controls the Person to whom such Shares are proposed to be Transferred; (B) the
pledge of or grant of a security interest or other collateral right in or to, or otherwise encumbering (collectively, a “Pledge”), any or all Shares held by the Majority Stockholder to any third-party lender
(“Lender”) as collateral security for any loans from the Lender to the Majority Stockholder; or (C) any Transfer to the Lender in connection with the Lender’s exercise of its enforcement rights and remedies in respect of a
Pledge. 
 (b) Drag Along Rights. In the event that the Proposed Sale is a bona fide sale or other bona
fide transfer for value to a non-affiliated third party (a “Third Party Purchaser”), the Majority Stockholder shall have the right to require each of the other Stockholders to sell,
and each of the other Stockholders hereby agrees to sell, an equal percentage (by number and by class and series of security, provided that all series of common stock shall be counted as one series for purposes of determining this percentage and
such percentage shall be determined on a fully diluted basis) of his, her or its Shares (the “Drag Along Right”) to such Third Party Purchaser on the same terms and conditions, and at the same time as, the Proposed Sale. If
the Majority Stockholder has by way of the Disposition Notice exercised its Drag Along Rights, then, promptly upon receipt of such Disposition Notice, each Stockholder (each, a “Drag Along Stockholder”) shall deliver or cause
to be delivered to the Majority Stockholder (or such other Person as may be agreed upon between the Majority Stockholder and each such Drag Along Stockholder) to be held by the Majority Stockholder (or such other agreed upon Person) in escrow for
sale or return upon the terms of this Section 2.4, the certificate or certificates representing the Shares to be sold pursuant to this Section 2.4(b), duly endorsed or accompanied by executed stock powers, together with a limited power-of-attorney authorizing the Majority Stockholder to sell such Shares in accordance with the terms of this Section 2.4(b). To the fullest extent of the law, the
Stockholders expressly waive any appraisal rights conferred under the Delaware General Corporation Law for any transaction with respect to which the Drag Along Right is validly exercised. 

(c) Tag Along Rights. Upon receipt of any Disposition Notice, subject to Section 2.4(a), each of the Restricted
Stockholders shall have the right to require (the “Tag Along Right”) that the same percentage (by number and by class and series of security, provided that all series of common stock shall be counted as one series for purposes of
determining this percentage and such percentage shall be determined on a fully diluted basis) of his, her or its Shares, as is determined by dividing the number of Shares being sold by the Majority Stockholder by the total number of Shares held by
the Majority Stockholder, be sold as part of, and upon the same terms and conditions as, the Proposed Sale. The Tag Along Right shall be exercised by written notice (the “Tag Along Notice”) from the exercising Restricted
Stockholder (each a “Tag Along Stockholder”) to the Majority Stockholder. The Tag Along Notice shall only be deemed effective if received by the Majority Stockholder on or before the thirtieth (30th) day after the Disposition
Notice was received by such Tag Along Stockholder (for the avoidance of doubt, the Majority Stockholder shall not consummate the Proposed Sale prior to the earlier of (i) the expiration of such thirty (30) day period or (ii) receipt
from each Restricted Stockholder of a Tag Along Notice or waiver of such Restricted 

  
 - 6 - 

 
Stockholder’s Tag Along Right with respect to the applicable Proposed Sale). If a Restricted Stockholder’s Tag Along Notice is not timely received by the Majority Stockholder, then such
Restricted Stockholder shall be deemed to have waived its Tag Along Right with respect to the applicable Proposed Sale. Promptly upon giving the Tag Along Notice, each Tag Along Stockholder shall deliver to or as directed by the Majority Stockholder
the certificate or certificates representing his Shares of such Tag Along Stockholder to be sold as part of the Proposed Sale, duly endorsed or accompanied by executed stock powers, together with a limited power-of-attorney authorizing the Majority Stockholder to sell such Shares in accordance with the terms of this Section 2.4, which certificate or certificates shall be held in escrow for sale or return
upon the terms of this Section 2.4. 
 (d) Payment. Promptly upon the consummation of any Proposed Sale, but in
no event later than three (3) business days after such consummation, the Majority Stockholder shall deliver to each Drag Along Stockholder or Tag Along Stockholder, as the case may be, the total sale price of his, her or its Shares sold as part
of the Proposed Sale (reduced by such Stockholder’s proportionate share, based on the number of Shares sold, of any escrow established in connection with such Proposed Sale and after deduction of his, her or its proportionate share, based on
number of Shares sold, of the reasonable out-of-pocket expenses associated with such Proposed Sale), together with evidence of the expenses associated with, and the
completion and time of completion of, such Proposed Sale. For avoidance of doubt, no separate deduction shall be made for expenses associated with any Proposed Sale which have been previously paid by the Company or a subsidiary, unless the agreement
for such Proposed Sale requires all selling Stockholders to reimburse such expenses on a pro rata basis. 
 (e)
Consummation. Notwithstanding anything herein to the contrary, the Majority Stockholder shall have 90 days from the date of receipt of any Disposition Notice during which to consummate the Proposed Sale to which such Disposition Notice
relates. If, at the end of such 90 day period, the Majority Stockholder has not consummated the Proposed Sale, all certificates representing Shares delivered by either a Drag Along Stockholder or Tag Along Stockholder, as the case may be, to the
Majority Stockholder for sale or other disposition as part of such Proposed Sale shall be returned to such Drag Along Stockholder or Tag Along Stockholder, as the case may be (or, if applicable, to the Company pursuant to Section 5), and the
transaction contemplated by the Proposed Sale shall be deemed to be a new Proposed Sale and shall again be subject to the provisions of this Section 2.4. 

(f) Limitations. 

(i) Notwithstanding anything herein to the contrary, in the event that all of the Stockholders are required to provide
indemnities in connection with the Proposed Sale, no Restricted Stockholder shall be required to be liable for more than such Person’s pro rata share (based upon the amount consideration received in exchange for its Shares) of any liability for
indemnity, and such liability shall not exceed (A) the total purchase price or consideration received by such Stockholder for such Person’s Shares in the Proposed Sale (including any contingent payments) plus (B) such
Stockholder’s pro rata share of any escrow established in connection with any such Proposed Sale. 

  
 - 7 - 

 (ii) Notwithstanding anything to the contrary, each Stockholder shall only
be obligated to make representations and warranties in any such Proposed Sale as to (A) its title and ownership of the Shares to be sold by such Stockholder, including the absence of liens or encumbrances on such Shares, (B) its
authorization, execution and delivery of the relevant documents by such Stockholder, and (C) the enforceability of the relevant documents against such Stockholder. Subject to subparagraph (f)(i) above, each Stockholder shall be severally liable
for, and will provide a several indemnity with respect to, such representations and warranties made by such Stockholder. 
 2.5 Call
Option Right. 
 (a) Voluntary Termination Without Sufficient Notice. If any person who is a Restricted
Stockholder, or later becomes a Restricted Stockholder, voluntarily terminates his or her employment or other services with the Company or any of its subsidiaries without Good Reason, in each case on less than 45 days’ prior written notice
without the Majority Stockholder’s waiver of receipt of such notice (other than in the case of termination due to death or permanent disability), or if the Company terminates the services of a Restricted Stockholder for Cause, then the parties
hereto agree that the Company shall have the right, but not the obligation, to purchase for cash any or all Shares held by such Restricted Stockholder that were first issued, on or after the date that is 180 days prior to the effective date of
termination of employment by such Restricted Stockholder, to such Restricted Stockholder pursuant to the exercise of an option granted under any stock option plan or other equity incentive plan of the Company. The purchase price per Share for all
such Shares, if any, shall be equal to the option exercise price previously paid by such Restricted Stockholder for such Shares. A termination of employment by the Company without Cause or by the Restricted Stockholder for Good Reason shall not
constitute a voluntary termination under this Section 2.5 nor require the aforementioned 45 days’ prior written notice; provided that this sentence is not intended to, nor does it, modify the definition of Good Reason and any notice
requirements set forth in such definition. 
 (b) Cessation of Employment for Any Reason. In addition to any other
rights set forth in Section 2.5(a) above, if any person, who is a Restricted Stockholder or later becomes a Restricted Stockholder, ceases employment or service with the Company or any Subsidiary of the Company, then the parties hereto
agree that the Company shall have the right, but not the obligation, to purchase for cash any or all Shares held by such Restricted Stockholder that were issued to such Restricted Stockholder pursuant to the exercise of an option granted under any
stock option plan or other equity incentive plan of the Company. The purchase price per Share for all such Shares, if any, shall be equal to: (i) if Optionee is terminated for Cause, the lower of: (A) the Option Price (as defined in the
applicable option agreement), or the (B) Fair Market Value (as defined below), or (ii) if Optionee’s employment ceases for any other reason, the Fair Market Value (as defined below). The “Fair Market Value” of
the Shares to be repurchased shall be, for purposes of this Section 2.5, determined in good faith by the Board as the date of the Board elects to exercise its repurchase rights pursuant to this Section 2.5. 

  
 - 8 - 

 (c) Exercise of Call Option Right. The Company’s right pursuant
to Sections 2.5(a) and 2.5(b) (the “Call Option Right”) shall be exercisable for the period commencing on receipt of notice by the Majority Stockholder from the Company of the applicable Restricted Stockholder’s
termination of employment until the date that is 180 days after the effective date of such termination or resignation (“Call Option Period”). Exercise of the Call Option Right shall be exercisable by a written notice (the
“Call Option Notice”) to such Restricted Stockholder no later than the last day of the Call Option Period and shall be revocable by the Company at any time prior to consummation of such purchase. The Company may assign the
Call Option Right to one or more persons. 
 (d) Mechanics for Call Option Right. The Company and the applicable
Restricted Stockholder shall comply with the Call Option Right as follows: 
 (i) promptly upon (and in no event later
than five (5) business days after) timely receipt of a Call Option Notice, such Restricted Stockholder shall deliver, or cause to be delivered, to the principal office of the Company the certificate(s) representing the applicable Shares so
purchased, duly endorsed to (or accompanied by a signed stock power sufficient to transfer title thereof to) the Company; and 

(ii) promptly upon (and in no event later than five (5) business days after) receipt of such certificate(s), the
Company shall pay the purchase price for the Shares represented thereby to such Restricted Stockholder, by wire transfer of immediately available funds or by check mailed to such Restricted Stockholder at such address as shall be specified in
writing by such Restricted Stockholder (or, absent such specification, to such Restricted Stockholder’s address of record as on file with the Company). 

2.6 Expiration of Restrictions. All rights and obligations imposed pursuant to this Section 2 shall terminate: 

(a) at any time upon the written agreement of the Company and all the Stockholders then party to this Agreement as it may
be amended or revised from time to time; 
 (b) immediately upon the dissolution of the Company or the bankruptcy or
insolvency of the Company; 
 (c) immediately upon the Company becoming subject, pursuant to an effective registration
statement or otherwise, to the reporting requirements of the Securities Exchange Act of 1934, as amended; provided that any such registration statement covers the offer and sale of Shares of which the aggregate net proceeds attributable to sales for
the account of the Company and the Stockholders exceed $50,000,000 (a “Reporting Event”); provided, further, that, in connection with a public offering pursuant to any such registration statement, the Stockholders shall be
required to enter into customary lock-up agreements in such form as is generally required from company insiders by the lead underwriter in such offering; or 

  
 - 9 - 

 (d) immediately upon the acquisition by a Person (other than a Person
owned by a majority of the Stockholders immediately after such acquisition) of all of the outstanding Shares of the Company, whether by way of merger or otherwise. 

2.7 Pre-Emptive Rights. 

(a) Rights to Purchase Additional Securities. So long as the restrictions imposed by Section 2 apply to the
Restricted Stockholders and have not terminated pursuant to Section 2.6, except for Excluded Issuances (as defined in Section 2.7(c) below), if the Company authorizes the issuance to any Person (the “Proposed
Purchaser”) of any of its Shares or other equity securities, debt securities containing equity features or other securities or other rights convertible into or containing options or rights to acquire any such debt or equity securities
(collectively, “Securities”), the Company shall, within 30 days of such authorization, offer to sell by written notice (the “Offer Notice”) to each Stockholder who is a holder of record of Shares on the date of such
authorization a portion of such Securities equal to the number of Securities to be so issued multiplied by the quotient determined by dividing (A) the number of Shares held by such Stockholder by (B) the number of Shares then outstanding
(calculated assuming that all convertible securities shall be converted into Shares, to the extent then exercisable, immediately prior to such issuance). The Offer Notice shall describe the terms of the offering (which shall be identical to the
terms of the issuance to the Proposed Purchaser), including, without limitation, the Securities offered and the price and other terms of sale, and shall set forth in reasonable detail the payment terms and such Stockholder’s percentage
allotment. 
 (b) Notice of Acceptance. In order to exercise such Stockholder’s preemptive rights hereunder, each
Stockholder must deliver a written notice to the Company within 10 days of receipt of the Offer Notice, describing such Stockholder’s election to purchase the Securities. If a Stockholder fails to timely exercise such Stockholder’s rights
pursuant to this Section, the Company shall be entitled to sell such Securities which any Stockholder has not elected to purchase to the Proposed Purchaser following such expiration on terms and conditions no more favorable to the Proposed Purchaser
thereof than those offered to the Stockholders. 
 (c) Excluded Issuances. “Excluded Issuances”
means any Shares or any security exercisable, convertible or exchangeable for Shares that may be issued or sold (i) pursuant to stock options or restricted stock or similar arrangements issued or provided to managers, consultants, directors
and/or employees of the Company or any of its subsidiaries (up to 25% of the Company’s total outstanding share capital (on a fully diluted basis)), (ii) other than for cash or cash equivalents as part of an arms’ length transaction in
which the Company is acquiring control of an unaffiliated third-party from a person to whom such Shares are issued, (iii) pursuant to a public offering of the Company’s securities, or (iv) to a Person (including any existing
Stockholder) lending money to the Company in an arms’ length transaction (but no more than a cumulative aggregate of 10% of the Company’s total outstanding share capital (on a fully diluted basis)). 

  
 - 10 - 

 (d) Bridge. Notwithstanding anything herein to the contrary, CODI
will be permitted to bridge an offering of Securities (a “Bridge”) by purchasing such Securities without the Company first complying with the provisions of this Section 2.7; provided, that, after any such Bridge, CODI promptly
offers the other holders of Common Stock the right to participate in such offering such that any they shall have the same opportunity and right to purchase (on the same price and other terms) the same portion of Securities as they would have had
pursuant to this Section 2.7 if the Bridge had not occurred. 
 Section 3. Legend on Certificates. Each certificate
representing Shares shall (unless otherwise permitted by the provisions of this Agreement) be stamped or otherwise imprinted with a legend (in addition to any legends as may be required pursuant to applicable state securities laws) substantially
similar to the following: 
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE
“ACT”), AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED BY A HOLDER UNLESS AND UNTIL THE SECURITIES ARE REGISTERED UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION IS AVAILABLE AND, IF REQUIRED BY
THE COMPANY, THE HOLDER HAS DELIVERED TO THE COMPANY AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER APPLICABLE FEDERAL AND STATE SECURITIES LAWS. 

THIS CERTIFICATE AND THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND ALL RIGHTS HEREIN ARE SUBJECT TO AND TRANSFERABLE (INCLUDING WITHOUT
LIMITATION BY WAY OF PLEDGE OR OTHER GRANT OF A SECURITY INTEREST THEREIN) ONLY IN ACCORDANCE WITH THE PROVISIONS OF THAT CERTAIN STOCKHOLDERS’ AGREEMENT, DATED AS OF AUGUST 31, 2016 AMONG THE COMPANY’S STOCKHOLDERS AND THE COMPANY,
AS MAY BE AMENDED FROM TIME TO TIME. A COPY OF SUCH STOCKHOLDERS’ AGREEMENT, AS MAY BE AMENDED FROM TIME TO TIME, IS ON FILE AND AVAILABLE FOR INSPECTION AT THE PRINCIPAL OFFICE OF THE COMPANY. ANY SALE, PLEDGE, GIFT, BEQUEST, TRANSFER,
ASSIGNMENT, ENCUMBRANCE OR OTHER DISPOSITION OF THIS CERTIFICATE AND THE SECURITIES REPRESENTED HEREBY IN VIOLATION OF SAID STOCKHOLDERS’ AGREEMENT SHALL BE INVALID. 

  
 - 11 - 

 Section 4. Covenant Not To Compete. 

4.1 Covenant Not to Compete. Each Restricted Stockholder who received consideration pursuant to the Merger Agreement, and to the extent
applicable, the Contribution Agreement (including without limitation with respect to options to purchase stock) (a “Selling Restricted Stockholder”), and in consideration thereof, acknowledges the importance of protecting the
business and goodwill of the Company and its subsidiaries and agrees and covenants that such Selling Restricted Stockholder, during the Restricted Period shall not, without the prior written consent of the Board (which may be withheld solely in the
discretion of the Board): 
 (a) directly or indirectly, either for such Selling Restricted Stockholder or for any other
person, partnership, corporation, company or other entity, own any interest in, manage, operate, join, control, participate in, consult with, render services for, be connected as a stockholder, member, manager, director, officer, employee or
partner, or in any other manner engage in any business, firm, entity, organization or enterprise which (i) competes with the Company or its subsidiaries in any business engaged in by the Company and/or its subsidiaries anywhere in the world or
(ii) is otherwise engaged in designing, making, manufacturing, selling, distributing, sourcing and/or marketing tactical or tactical-inspired apparel, outerwear, nylon, footwear, gear (including backpacks, bags, packs) and/or accessories, or
any other business or operations engaged in or planned to be engaged in by the Company or any of its subsidiaries prior to or as of the Effective Date (as defined in the Merger Agreement) (the “Business”); provided, however, the foregoing
shall not prohibit (A) such Selling Restricted Stockholder from beneficially owning up to 5% of the outstanding equity securities of a for-profit business, firm, entity or organization the equity
securities of which are publicly traded, (B) such Selling Restricted Stockholder from being an employee or a consultant of the Company or any of its subsidiaries, (C) Selling Restricted Stockholder’s participation (whether as an
employee, a consultant or otherwise) in a business or enterprise that derives no more than 10% of its total combined revenue from the Business, so long as Selling Restricted Stockholder does not use and does not provide to such enterprise any
Confidential Information, is not employed by and does not have supervisory authority for the competing division of such enterprise, and the focus of Selling Restricted Stockholder’s responsibilities is with respect to the entire business
enterprise and/or other division(s) not in the Business, and (D) for Francisco Morales only, (x) such Selling Restricted Stockholder from continuing to own a non-controlling interest in Arksun, so
long as Arksun and the entities Arksun Controls operate as only a contract manufacturer, do not otherwise compete with the Business, and do not manufacture products that compete with the products of the Company for another company involved in the
Business, or (y) Selling Restricted Stockholder from continuing to own an interest in High Energy Sports and/or Catella, so long as from the date of this Agreement, High Energy Sports and/or Catella do not introduce new products that would
compete with the products of the Company in the Business; or 
 (b) directly or indirectly (i) solicit or induce,
or attempt to solicit or induce or assist any Person in soliciting or inducing any employee or sales representative of the Company or any subsidiary to leave the employ or engagement of the Company or such subsidiary, or in any way interfere with
the relationship between the Company or any subsidiary and any such employee or sales representative thereof (provided, however, that posting an advertisement or notice of a job opening that is not targeted at the Company, any of its subsidiaries or
any employees of the Company or its subsidiaries in 

  
 - 12 - 

 
a newspaper of general circulation or a publicly available web site or bulletin board shall not be deemed a violation of this clause (i), if such posting does not otherwise violate
Section 4.1(a)), or (ii) solicit or induce or attempt to solicit or induce any customer, supplier, licensee, licensor, franchisee or other business relation of the Company or any subsidiary to cease doing business with the Company or such
subsidiary, or in any way interfere with the relationship between any such customer, supplier, licensee, licensor, franchisee or other business relation and the Company or any subsidiary (including, without limitation, making any negative or
disparaging statements or communications about the Company, its subsidiaries or affiliates, or the respective directors, officers, employees or stockholders thereof). 

Each such Selling Restricted Stockholder expressly acknowledges and agrees that the restrictions in this Section 4.1 are reasonable with respect to
duration, scope and geographic area. In particular, each such Selling Restricted Stockholder acknowledges and agrees that the geographic scope of this restriction is necessary to protect the goodwill and confidential information of the Company and
its Subsidiaries and affiliates, particularly in light of the global nature of their business. Each such Selling Restricted Stockholder expressly acknowledges and agrees that, because the Company and its subsidiaries and affiliates are likely to
continue to conduct a like business during the Restricted Period, such restrictions are reasonable as to time. Each such Selling Restricted Stockholder acknowledges that the restrictions contained in this Section 4.1 are reasonable and that
such Selling Restricted Stockholder has reviewed this Agreement with such Selling Restricted Stockholder’s legal counsel. 
 4.2
Interpretation. Whenever possible, each provision and term of this Section 4 will be interpreted in a manner to be effective and valid, but, if any provision or term of this Section 4 is held to be prohibited or invalid, then such
provision or term will be ineffective only to the extent of such prohibition or invalidity, without invalidating or affecting in any manner whatsoever the remainder of such provision or term or the remaining provisions or terms of this
Section 4. If any of the covenants set forth in this Section 4 are held to be unreasonable, arbitrary or against public policy, then such covenants will be considered divisible with respect to scope, time and geographic area and shall be
interpreted in such manner as to be effective and valid under applicable law, and in such lesser scope, time and geographic area, will be effective, binding and enforceable against each such Restricted Stockholder. 

Section 5. Custody of Shares by Company. To facilitate the enforcement of the rights and obligations agreed to herein by the
parties, including, without limitation, the Transfer restrictions and the Drag-Along Right, each Restricted Stockholder acknowledges such rights and obligations and agrees that the Company or its designee shall hold each such Restricted
Stockholder’s Shares for the benefit of such Restricted Stockholder, subject to any rights granted to another party as permitted herein. Each Restricted Stockholder shall promptly deliver to the Company all stock certificates evidencing the
Shares of such holder, together with a stock power for transfer of such Shares, executed in blank and in a form acceptable to the Company and its counsel. Subject to any rights granted to another party as permitted herein, so long as the Company
shall hold the Shares on behalf of a Restricted Stockholder, such Restricted Stockholder shall be entitled to exercise such holder’s right to vote such Shares and shall be entitled to receive any dividend (ordinary or extraordinary, whether
paid in cash or property) or other distribution with respect to such Shares and shall be entitled to exercise all other rights of such Restricted Stockholder as a stockholder of the Company, except as explicitly provided for in this Agreement. 

  
 - 13 - 

 Section 6. Miscellaneous. 

6.1 Arbitration. 

(a) All controversies, claims, or disputes arising out of or related to this Agreement or the subject matter hereof or the
interpretation, performance, or breach of this Agreement, including, but not limited to, the determination of the scope or applicability of this Section 6.1 (“Dispute”), except as otherwise set forth Section 6.1(c) below,
shall be resolved according to the following procedures. In the event that the parties to a Dispute are unable to resolve any Dispute informally, then such Dispute shall be submitted to final and binding arbitration. The arbitration shall be
initiated and conducted according to either the JAMS Streamlined (for claims under $250,000) Arbitration Rules and Procedures or the JAMS Comprehensive (for claims over $250,000) Arbitration Rules and Procedures of JAMS or its successor, except as
modified herein, in effect at the time the request for arbitration is made (the “Arbitration Rules”). The arbitration shall be conducted in Orange County, California before a single neutral arbitrator appointed in accordance
with the Arbitration Rules. The arbitrator shall follow Delaware law and the Federal Rules of Evidence in adjudicating the Dispute and shall have the right and authority to determine how his or her decision or determination as to each issue or
matter in dispute may be implemented or enforced. Subject to the parties’ ability to vacate a decision or award under the Federal Arbitration Act, any decision or award of the arbitrator shall be final, binding and conclusive on the parties to
this Agreement and their respective affiliates. The arbitrator will provide a detailed written statement of decision, which will be part of the arbitration award and admissible in any judicial proceeding to confirm, correct, or vacate the award.
Unless the parties to the Dispute agree otherwise, the neutral arbitrator shall be a former or retired judge or justice of any California state or federal court. If any party refuses to perform any or all of its obligations under the final
arbitration award (following any petition to correct or vacate the final arbitration award, if applicable) within thirty (30) days of such award being rendered, then the other parties may enforce the final award in any court of competent
jurisdiction. The parties to the Dispute agree to equally split the administrative fee and the compensation of the arbitrator; provided, however, that, at the conclusion of the arbitration, the arbitrator shall award costs and expenses (including
the costs of the arbitration previously advanced and the reasonable attorneys’ fees and costs of the prevailing party) to the prevailing party.  

(b) The parties hereto agree that any action to compel arbitration pursuant to this Agreement may be brought in the appropriate
federal or state court in Orange County, California. Application may also be made to such court for confirmation of any decision or award of the arbitrator, for an order of the enforcement and for any other remedies which may be necessary to
effectuate such decision or award. The parties hereto hereby consent to the jurisdiction of the arbitrator and of such court and waive any objection to the jurisdiction of such arbitrator and court.  

  
 - 14 - 

 (c) Notwithstanding the foregoing provisions of this Section 6.1,
nothing contained herein shall require arbitration of any issue arising under this Agreement for which injunctive relief or specific performance is actually sought successfully by any party hereto. Any action, suit or other proceeding initiated by
any party hereto against any other party for injunctive relief, specific performance or to enforce this Section 6.1 or any decision or award of the arbitrator may be brought in a court of competent jurisdiction in Orange County, California, or
in the event that such court does not have subject matter jurisdiction over such action or proceeding, a federal court located in Orange County, California. The parties hereto hereby submit themselves to the jurisdiction of any such court and agree
that service of process on them in any such action, suit or proceeding may be effected by the means by which notices are to be given to it under this Agreement.  

(d) The parties hereto shall keep confidential any arbitration proceeding and any decisions and awards rendered by the
arbitrator, and shall not disclose any information regarding any arbitration proceeding (including, without limitation, the existence of any arbitration proceeding and any resulting decisions or awards) except (i) as may be necessary to prepare
for or conduct the arbitration hearing on the merits, (ii) as may be necessary in connection with a court application as contemplated by Sections 6.1(b) and 6.1(c) above, (iii) to its current or prospective advisors, lenders, investors or
acquirers, or (iv) as otherwise required by rule, regulation, or law or judicial decision.  
 6.2 Effectiveness of
Transfers. No Shares shall be Transferred on the Company’s books and records, and Transfers of Shares shall be otherwise ineffective, unless any such transfer is made pursuant to and in accordance with the terms and conditions of this
Agreement. 
 6.3 Notices. All notices and other communications given or made pursuant hereto shall be in writing (and shall be
deemed to have been duly given or made when received) by delivery in person, by facsimile, electronic mail, cable, telecopy, telegram or telex (if being sent electronically, a written confirmation shall be required to be mailed to the receiving
parties), by registered or certified mail (postage prepaid, return receipt requested), or by express mail through a nationally recognized overnight courier, in each case to the parties at the following addresses (or at such other address for a party
as shall be specified by like notice): 

Company:                    
   5.11 ABR Corp. 
 c/o Compass Group Diversified Holdings LLC 

2010 Main Street, Suite 1220 

Irvine, CA 92614 
 Attn: Patrick
A. Maciariello 
 Facsimile No.: (949) 333-5043 

Majority Stockholder:   Compass Group Diversified Holdings LLC 

2010 Main Street, Suite 1220 

Irvine, CA 92614 
 Attn: Patrick
A. Maciariello 
 Facsimile No.: (949) 333-5043 

  
 - 15 - 

 with copies
to:               Paul Hastings LLP 
 695 Town Center Drive,
Seventeenth Floor 
 Costa Mesa, CA 92626 

Attention: Brandon Howald 

Facsimile No.: (714) 979-1921 

 

					
	                          	  	The other Stockholders listed on the signature page hereto:	  	As applicable, to the address of each such Stockholder set forth on the signature page hereto.
			
		  	Any Additional Holders:	  	As applicable, to the address of each Additional Holder set forth on the Additional Holder Signature Page.

 6.4 Specific Performance. Due to the fact that the Shares cannot be readily purchased or sold in the
open market, and for other reasons, the parties will be irreparably damaged in the event that this Agreement is not specifically enforced. In the event of a breach or a threatened breach of any of the provisions of this Agreement by any of the
parties hereto, the other parties would suffer irreparable harm, and, in addition and supplementary to other rights and remedies existing in their favor, such other parties shall be entitled to specific performance and/or injunctive or other
equitable relief from a court of competent jurisdiction in order to enforce or prevent any violations of the provisions hereof (without posting a bond or other security). Nothing herein shall be construed as prohibiting such other parties from
pursuing any other remedies available to them, at law or in equity, for any breach or threatened breach of this Agreement, including recovery of damages. 

6.5 Entire Agreement. This Agreement (including the documents and instruments referred to herein) constitutes the entire agreement and
supersedes any and all other prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof; provided, however, this Agreement does not amend, supersede or otherwise affect the noncompetition
provisions of any employment or noncompetition agreement between the Company and/or any of its subsidiaries, on the one hand, and any Stockholder, on the other hand. 

6.6 Amendments. This Agreement may be amended, in whole or in part, only by the affirmative vote or written consent of Stockholders
holding more than 50% of the voting power of all issued and outstanding Shares; provided, however, for so long as the Majority Stockholder or any Affiliate thereof holds at least twenty percent (20%) of the Shares held by the Majority
Stockholder on the date hereof, the affirmative vote or written consent of the Majority Stockholder shall be required to approve any such amendment; provided, further, if any amendment to this Agreement materially adversely affects the
rights of the Restricted Stockholders as a group in a disproportionate manner compared to the effect of such amendment on the other Stockholders as a group, then the affirmative vote or consent of a majority of the Shares held by the Restricted
Stockholders shall be required to approve any such amendment. 

  
 - 16 - 

 6.7 Waiver. Any party may waive compliance by any other with any of the covenants or
conditions herein, but no waiver shall be binding unless executed in writing by the party making the waiver. No waiver of any of the provisions of this Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not
similar, nor shall any waiver constitute a continuing waiver. No waiver of any breach or default hereunder shall be considered valid unless in writing, and no such waiver shall be deemed a waiver of any subsequent breach or default of the same or
similar nature. 
 6.8 Successors: Assigns. Except as otherwise expressly provided herein, this Agreement shall be binding upon and
inure to the benefit of the Majority Stockholder, its successors and permitted assigns, and the Restricted Stockholders, their heirs, personal representatives, successors and permitted assigns; provided, however, that nothing contained herein shall
be construed as granting any Stockholder the right to transfer his, her or its Shares except as expressly provided in this Agreement. 
 6.9
Section Headings. The headings contained herein are for reference purposes only and shall not affect the meaning or interpretation of this Agreement. 

6.10 Further Assurances. Each party hereto shall cooperate and shall take such further action and shall execute and deliver such
further documents as may be reasonably requested by any other party in order to carry out the provisions and purposes of this Agreement. 

6.11 Interpretations. When the context in which words are used in this Agreement indicates that such is the intent, words used in the
singular shall have a comparable meaning when used in the plural and vice versa; pronouns stated in the masculine, feminine or neuter shall include each other gender. 

6.12 Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be deemed to be an original and
all of which together shall be deemed to be one and the same instrument. Any party may execute this Agreement by electronic signature (including facsimile or scanned email), and the other parties will be entitled to rely on such signature as
conclusive evidence that this Agreement has been duly executed by such party. 
 6.13 Governing Law. This Agreement shall be governed
by and construed in accordance with the laws of the State of Delaware without regard to the principles of conflicts of law of such State. 

6.14 No Effect Upon Lending Relationship. Notwithstanding anything herein to the contrary, nothing contained in this Agreement shall
affect, limit or impair the rights and remedies of CODI (in its capacity as lender to the Company), any of their respective Affiliates or any other lender in its capacity as lender to the Company or any of its Affiliates or subsidiaries pursuant to
any agreement under which the Company or such Affiliate or subsidiary has borrowed money. Without limiting the generality of the foregoing, neither CODI nor any such other Person, in exercising its rights as a lender, including making its decision
on whether to foreclose on any collateral security, will have any duty to consider (a) its status as a direct or indirect Stockholder of the Company, (b) the interests of the Company or any of its subsidiaries or (c) any duty it may
have to any other direct or indirect Stockholder of the Company, except as may be required under the applicable loan documents. 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

  
 - 17 - 

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

			
	5.11 ABR Corp.
		
	By:	 	/s/ Zach Sawtelle

			
	Name: Zach Sawtelle
	Title:   Assistant Secretary

 Address for notices: 
 c/o
Compass Group Management LLC 
 2010 Main Street, Suite 1220 

Irvine, CA 92614 
 Attn: Patrick A. Maciariello 

Facsimile No.: (949) 333-5043 
 Email: pat@compassequity.com 

with copies to: 
 Paul Hastings LLP 

695 Town Center Drive, Seventeenth Floor 
 Costa Mesa, California
92626 
 Attn: Brandon Howald 
 Facsimile No.: (714) 979-1921

  
 [Signature Page
to Stockholders’ Agreement – Company and 
 Majority Stockholder] 

			
	 “MAJORITY STOCKHOLDER”

COMPASS GROUP DIVERSIFIED HOLDINGS LLC

		
	By:	 	/s/ Ryan J. Faulkingham

			
	Name: Ryan J. Faulkingham
	Title:   CFO

 Address for notices: 
 c/o
Compass Group Management LLC 
 2010 Main Street, Suite 1220 

Irvine, CA 92614 
 Attn: Patrick A. Maciariello 

Facsimile No.: (949) 333-5043 
 Email: pat@compassequity.com 

with copies to: 
 Paul Hastings LLP 

695 Town Center Drive, Seventeenth Floor 
 Costa Mesa, California
92626 
 Attn: Brandon Howald 
 Facsimile No.: (714) 979-1921

  
 [Signature Page
to Stockholders’ Agreement – Company and 
 Majority Stockholder] 

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

	
	OTHER STOCKHOLDERS
	
	/s/ Thomas E. Davin
	Thomas E. Davin

 Address for notices: 
 Thomas E.
Davin 
 [***] 
 With copies to: 

			
	 
	 
	 

			
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Joel S. Alarcon
	Name: Joel S Alarcon

 Address for notices: 
  

			
	Name:	 	Joel S. Alarcon

			
	Address:	 	 [***]

	Facsimile No.:	 	 

 With copies to: 

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Linda J. Brandt
	Name: Linda J. Brandt

 Address for notices: 
  

			
	Name:	 	Linda J. Brandt

			
	Address:	 	 [***]

		 	

			
	Facsimile No.:	 	 

 With copies to: 

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement Other Stockholders] 

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

	
	OTHER STOCKHOLDERS
	
	/s/ Frank Cappo

 Address for notices: 
  

			
	Frank Cappo
	[***]
	 

			
	Attn:	 	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	Frank Cappo
	[***]
	 

			
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	 /s/ Cyrus DeVere

	Name:	 	Cyrus DeVere

 Address for notices: 
  

			
	Name:	 	Cyrus DeVere

			
	Address:	 	[***]

			
	 
	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement - Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ J.W. Driessen
	Name:	 	J.W. Driessen

 Address for notices: 
  

			
	Name:	 	J.W. Driessen

			
	Address:	 	 [***]

			
	
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement - Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ David Hein
	Name:	 	David Hein

 Address for notices: 
  

			
	Name:	 	 David Hein

			
	Address:	 	

			
	 [***]

	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’Agreement - Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Kyle Lamb
	Name:	 	Kyle Lamb

 Address for notices: 
  

			
	Name:	 	 Kyle and Melynda Lamb

			
	Address:	 	 [***]

			
	 
	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement - Other Stockholders] 

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

			
	OTHER STOCKHOLDERS 
	
	 /s/ Vivian Lee

	Name:	 	Vivian Lee

 Address for notices: 
  

			
	Name:	 	 Vivian Lee

			
	Address:	 	 [***]

			
	
	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement - Other Stockholders] 

	
	/s/ Francisco Morales
	Francisco Morales

 Address for notices: 
  

			
	Name:	 	Francisco Morales

			
	Address:	 	[***]

			
	  

	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement - Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	 /s/ Peter Novak

	Name:	 	Peter Novak

 Address for notices: 
  

			
	Name:	 	 Peter Novak

			
	Address:	 	 [***]

			
	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	 /s/ Jeffrey B. Roberts

	Name:	 	 Jeffrey B. and Erica A. Roberts Family Trust

 Address for notices: 
  

			
	Name:	 	 Jeffrey B. Roberts

			
	Address:	 	 [***]

			
	              	 	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

	
	
	 /s/ Matt Sinclair

	Matt Sinclair

 Address for notices: 
  

			
	Name:	 	Matt Sinclair

			
	Address:	 	[***]

			
	  

	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Brian M. Tripp
	Name:	 	 Brian M. Tripp

 Address for notices: 
  

			
	Name:	 	 Brian M. Tripp

			
	Address:	 	 [***]

	 
	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

	
	
	/s/ Dave Unter
	 Dave Unter

 Address for notices: 
  

			
	Name:	 	Dave Unter

			
	Address:	 	[***]

			
	
	 
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Kevin Weissman
	Name:	 	 Kevin Weissman

 Address for notices: 
  

			
	Name:	 	 Kevin Weissman

			
	Address:	 	 [***]

	 
	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

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

			
	OTHER STOCKHOLDERS
	
	/s/ Shane Will
	Name:	 	 Shane Will

 Address for notices: 
  

			
	Name:	 	 Shane Will

			
	Address:	 	 [***]

	 
	 

			
	Facsimile No.:	 	 

 With copies to: 
  

			
	 
	 
	 
	Attn:	 	 

			
	Facsimile No.:	 	 

  
 [Signature Page
to Stockholders’ Agreement – Other Stockholders] 

 EXHIBIT A 

ADDITIONAL HOLDER SIGNATURE PAGE 

The undersigned, desiring to become a stockholder of 5.11 ABR Corp., a Delaware corporation (the “Company”), and treated as a
Restricted Stockholder, hereby agrees to all of the terms of that certain Stockholders’ Agreement dated as of ________ __, 2016, as amended from time to time, among the Company and its stockholders, and agrees to be bound by the terms and
provisions thereof. 
 Executed by the undersigned as a Stockholder of the Company. 

Number of Shares: ______________shares of Common Stock 
  

					
		  	RESTRICTED STOCKHOLDER:

					
			
		  	 By:
	 	 

					
			
		  	 Name:
	 	 

					
			
		  		 	Print

					
			
		  	 Tax ID No.:
	 	 
			
		  	 Address:
	 	 
		  		 	 
		  		 	 
		  		 	 
	
Date:EX-4.5(a)

 Exhibit 4.5(a) 

 
  

 
 CREDIT AGREEMENT 

dated as of August 31, 2016 

among 
 5.11, INC. 

as Borrower, 
 5.11 TA, INC., 

As Co-Borrower, 

and 
 COMPASS GROUP DIVERSIFIED
HOLDINGS LLC, 
 as Lender 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	 	 	  	Page	 
	 SECTION 1.
	 	DEFINITIONS; INTERPRETATION	  	 	1	 
			
	 1.1
	 	Definitions	  	 	1	 
			
	 1.2
	 	Interpretation	  	 	19	 
			
	 SECTION 2.
	 	CREDIT FACILITIES	  	 	19	 
			
	 2.1
	 	Commitments	  	 	19	 
			
	 2.2
	 	Loan Procedures	  	 	20	 
			
	 2.3
	 	Letters of Credit	  	 	21	 
			
	 2.4
	 	Certain Conditions	  	 	23	 
			
	 2.5
	 	Loan Accounting	  	 	23	 
			
	 2.6
	 	Interest	  	 	23	 
			
	 2.7
	 	Fees	  	 	24	 
			
	 2.8
	 	Commitment Reduction	  	 	25	 
			
	 2.9
	 	Prepayment	  	 	25	 
			
	 2.10
	 	Repayment	  	 	27	 
			
	 2.11
	 	Payment	  	 	27	 
			
	 SECTION 3.
	 	YIELD PROTECTION	  	 	30	 
			
	 3.1
	 	Taxes	  	 	30	 
			
	 3.2
	 	Increased Cost	  	 	31	 
			
	 3.3
	 	Inadequate or Unfair Basis	  	 	32	 
			
	 3.4
	 	Change in Law	  	 	32	 
			
	 3.5
	 	Funding Losses	  	 	32	 
			
	 3.6
	 	Conclusiveness of Statements; Survival	  	 	33	 
			
	 SECTION 4.
	 	CONDITIONS PRECEDENT	  	 	33	 
			
	 4.1
	 	Initial Credit Extension	  	 	33	 
			
	 4.2
	 	All Credit Extensions	  	 	35	 
			
	 SECTION 5.
	 	REPRESENTATIONS AND WARRANTIES	  	 	35	 
			
	 5.1
	 	Organization	  	 	35	 
			
	 5.2
	 	Authorization; No Conflict	  	 	36	 
			
	 5.3
	 	Validity; Binding Nature	  	 	36	 

  
 -i- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 5.4
	 	Financial Condition	  	 	36	 
			
	 5.5
	 	No Material Adverse Change	  	 	37	 
			
	 5.6
	 	Litigation	  	 	37	 
			
	 5.7
	 	Ownership of Properties; Liens	  	 	37	 
			
	 5.8
	 	Capitalization	  	 	37	 
			
	 5.9
	 	Pension Plans	  	 	38	 
			
	 5.10
	 	Investment Company Act	  	 	38	 
			
	 5.11
	 	Public Utility Holding Company Act	  	 	38	 
			
	 5.12
	 	Margin Stock	  	 	38	 
			
	 5.13
	 	Taxes	  	 	39	 
			
	 5.14
	 	Solvency	  	 	39	 
			
	 5.15
	 	Environmental Matters	  	 	39	 
			
	 5.16
	 	Insurance	  	 	40	 
			
	 5.17
	 	Information	  	 	40	 
			
	 5.18
	 	Intellectual Property	  	 	40	 
			
	 5.19
	 	Restrictive Provisions	  	 	41	 
			
	 5.20
	 	Labor Matters	  	 	41	 
			
	 5.21
	 	No Default	  	 	41	 
			
	 5.22
	 	Compliance with Law	  	 	41	 
			
	 5.23
	 	Permits, etc.	  	 	42	 
			
	 5.24
	 	Customers and Suppliers	  	 	42	 
			
	 SECTION 6.
	 	AFFIRMATIVE COVENANTS	  	 	42	 
			
	 6.1
	 	Information	  	 	42	 
			
	 6.2
	 	Books; Records; Inspections	  	 	45	 
			
	 6.3
	 	Maintenance of Property; Insurance	  	 	46	 
			
	 6.4
	 	Compliance with Laws; Payment of Taxes and Liabilities	  	 	47	 
			
	 6.5
	 	Maintenance of Existence	  	 	47	 
			
	 6.6
	 	Employee Benefit Plans	  	 	47	 
			
	 6.7
	 	Environmental Matters	  	 	48	 

  
 -ii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 6.8
	 	Obtaining of Permits, Etc	  	 	48	 
			
	 6.9
	 	Collateral Access Agreements	  	 	48	 
			
	 6.10
	 	Blocked Accounts	  	 	48	 
			
	 6.11
	 	Further Assurances; Post-Closing Items	  	 	50	 
			
	 SECTION 7.
	 	NEGATIVE COVENANTS	  	 	50	 
			
	 7.1
	 	Debt	  	 	50	 
			
	 7.2
	 	Liens	  	 	51	 
			
	 7.3
	 	Operating Leases	  	 	52	 
			
	 7.4
	 	Restricted Payments	  	 	52	 
			
	 7.5
	 	Mergers; Consolidations; Asset Sales	  	 	52	 
			
	 7.6
	 	Modification of Organizational Documents	  	 	53	 
			
	 7.7
	 	Use of Proceeds	  	 	53	 
			
	 7.8
	 	Transactions with Affiliates	  	 	53	 
			
	 7.9
	 	Inconsistent Agreements	  	 	53	 
			
	 7.10
	 	Business Activities	  	 	54	 
			
	 7.11
	 	Investments	  	 	54	 
			
	 7.12
	 	Restriction of Amendments to Certain Documents	  	 	55	 
			
	 7.13
	 	Fiscal Year	  	 	55	 
			
	 7.14
	 	Financial Covenants	  	 	55	 
			
	 7.15
	 	Bank Accounts	  	 	57	 
			
	 7.16
	 	Subsidiaries	  	 	57	 
			
	 SECTION 8.
	 	EVENTS OF DEFAULT; REMEDIES	  	 	57	 
			
	 8.1
	 	Events of Default	  	 	57	 
			
	 8.2
	 	Remedies	  	 	60	 
			
	 SECTION 9.
	 	MISCELLANEOUS	  	 	60	 
			
	 9.1
	 	Waiver; Amendments	  	 	60	 
			
	 9.2
	 	Notices	  	 	61	 
			
	 9.3
	 	Computations	  	 	61	 
			
	 9.4
	 	Costs; Expenses	  	 	61	 

  
 -iii- 

 TABLE OF CONTENTS 

(continued) 
  

							
	 	 	 	  	Page	 
	 9.5
	 	Indemnification by Borrower	  	 	62	 
			
	 9.6
	 	Marshaling; Payments Set Aside	  	 	62	 
			
	 9.7
	 	Nonliability of Lender	  	 	63	 
			
	 9.8
	 	Assignments; Participations	  	 	63	 
			
	 9.9
	 	Confidentiality	  	 	64	 
			
	 9.10
	 	Captions	  	 	65	 
			
	 9.11
	 	Nature of Remedies	  	 	66	 
			
	 9.12
	 	Counterparts	  	 	66	 
			
	 9.13
	 	Severability	  	 	66	 
			
	 9.14
	 	Entire Agreement	  	 	66	 
			
	 9.15
	 	Successors; Assigns	  	 	66	 
			
	 9.16
	 	Governing Law	  	 	67	 
			
	 9.17
	 	Forum Selection; Consent to Jurisdiction	  	 	67	 
			
	 9.18
	 	Waiver of Jury Trial	  	 	67	 
		
	 EXHIBIT A FORM OF ASSIGNMENT AGREEMENT
	  	 	A-1	 
		
	 EXHIBIT B FORM OF COMPLIANCE CERTIFICATE
	  	 	B-1	 
		
	 EXHIBIT C FORM OF NOTE
	  	 	C-1	 
		
	 EXHIBIT D FORM OF NOTICE OF BORROWING
	  	 	D-1	 
		
	 EXHIBIT E FORM OF NOTICE OF CONVERSION/CONTINUATION
	  	 	E-1	 

  
 -iv- 

 CREDIT AGREEMENT 

This Credit Agreement, dated as of August 31, 2016 (as amended, restated or otherwise modified from time to time, this
“Agreement”), is made and entered into by and among 5.11, Inc. a company incorporated in California, as borrower (“Borrower”), 5.11 TA, Inc., a company incorporated in Delaware, as
co-borrower (“Co-Borrower”) and Compass Group Diversified Holdings LLC, a Delaware limited liability company (together with its successors and assigns,
“Lender”), as lender. 
 In consideration of the mutual agreements herein contained, the parties hereto agree as follows:

 Section 1. Definitions; Interpretation. 

1.1 Definitions. 
 When
used herein the following terms shall have the following meanings: 
 Acceleration Event means the occurrence of any of the
following: (i) an Event of Default under Section 8.1.3; (ii) an Event of Default under Section 8.1.1 and the termination of the Commitments; or (iii) any other Event of Default under Section 8.1 and the
election by Lender to declare the Obligations to be due and payable or to terminate the Revolving Loan Commitment. 
 Account has
the meaning set forth in the Guarantee and Collateral Agreement. 
 Account Debtor means any Person who is obligated to any Loan
Party with respect to any Account, Chattel Paper or General Intangible. 
 Acquisition means, with respect to any Person, any
transaction or series of related transactions for the purpose of or resulting, directly or indirectly, in (a) the acquisition of all or a substantial portion of the assets of another Person, or of all or a substantial portion of any business or
division of another Person, (b) the acquisition of in excess of 50% of the capital stock, partnership interests, membership interests or equity of any other Person, or otherwise causing any other Person to become a Subsidiary, or (c) a
merger or consolidation or any other combination with another Person (other than a Person that is already a Subsidiary). 

Affiliate of any Person means (a) any other Person which, directly or indirectly, controls or is controlled by or is under common
control with such Person, (b) any officer or director of such Person and (c) with respect to Lender, any entity administered or managed by Lender or an Affiliate or investment advisor thereof which is engaged in making, purchasing, holding
or otherwise investing in commercial loans. A Person shall be deemed to be “controlled by” any other Person if such Person possesses, directly or indirectly, power to vote 10% or more of the securities (on a fully diluted basis) having
ordinary voting power for the election of directors or managers or power to direct or cause the direction of the management and policies of such Person whether by contract or otherwise. Unless expressly stated otherwise herein, Lender shall not be
deemed an Affiliate of any Loan Party. 

 Agreement has the meaning set forth in the Preamble. 

Applicable Margin means the applicable rate per annum as set forth in the following table: 

 

																			
	 	  	 	  	Revolving Loans	 	 	Term A Loans	 
	Level	  	 Total Debt to

EBITDA Ratio
	  	Base
Rate	 	 	LIBOR	 	 	Base
Rate	 	 	LIBOR	 
	1	  	Less than 2.0: 1.0	  	 	4.00	% 	 	 	4.00	% 	 	 	4.00	% 	 	 	4.50	% 
						
	2	  	Greater than 2.0: 1.0 but less than 3.0: 1.0	  	 	4.25	% 	 	 	4.25	% 	 	 	4.25	% 	 	 	4.75	% 
						
	3	  	Greater than 3.0: 1.0 but less than 4.0: 1.0	  	 	4.50	% 	 	 	4.50	% 	 	 	4.50	% 	 	 	5.00	% 
						
	4	  	Greater than 4.0: 1.0 but less than 5.0:1.0	  	 	4.75	% 	 	 	4.75	% 	 	 	4.75	% 	 	 	5.25	% 
						
	5	  	Greater than 5.0:1.0	  	 	5.00	% 	 	 	5.00	% 	 	 	5.00	% 	 	 	5.50	% 

 The Applicable Margin in respect of the applicable Loan shall be adjusted quarterly, to the extent
applicable, on the date financial statements are required to be delivered pursuant to Section 6.1.2 with respect to the last fiscal month of a Fiscal Quarter (or, in the case of the last Fiscal Quarter of each Fiscal Year,
Section 6.1.1) after the end of each related Fiscal Quarter (each, an “Interest Determination Date”) based on the Total Debt to EBITDA Ratio as of the last day of such Fiscal Quarter. Such Applicable Margin shall be
effective from such Interest Determination Date until the next Interest Determination Date. Initially, each Applicable Margin shall be that percentage set forth above for Level 4 in the table above. From and after the Interest Determination
Date next succeeding the date of this Agreement, each Applicable Margin shall be equal to the applicable rate per annum set forth in the table above opposite the applicable Total Debt to EBITDA Ratio. 

Assignee has the meaning set forth in Section 9.8.1. 

Assignment Agreement means an agreement substantially in the form of Exhibit A. 

  
 2 

 Attributable Indebtedness means, with respect to any Person on any date, (a) in
respect of any Capital Lease, 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
Transaction, the outstanding principal amount of such financing, after taking into account reserve accounts and making appropriate adjustments. 

Balance Sheet Date has the meaning set forth in Section 5.4. 

Bankruptcy Code means the United States Bankruptcy Code (11 U.S.C. 101 et. seq.), as amended, and any successor statute. 

Base Rate means, for any day, the rate per annum equal to the greater of (a) the rate of interest which is identified as the
“Prime Rate” and normally published in the Money Rates Section of The Wall Street Journal (or, if such rate ceases to be so published, as quoted from such other generally available and recognizable source as Lender may select) and
(b) the sum of the Federal Funds Rate plus 0.5%. Any change in the Base Rate due to a change in such Prime Rate or the Federal Funds Rate shall be effective on the effective date of such change in such Prime Rate or the Federal Funds Rate,
respectively. 
 Base Rate Loan means any Loan which bears interest at or by reference to the Base Rate. 

Blocked Account has the meaning set forth in Section 6.10. 

Blocked Account Bank has the meaning set forth in Section 6.10. 

Borrower has the meaning set forth in the Preamble. 

Borrowing Notice means a notice in substantially the form of Exhibit D. 

Business Day means any day other than any Saturday and Sunday on which commercial banks are open for commercial banking business in
New York, New York, and, in the case of a Business Day which relates to a LIBOR Loan, any day on which dealings are carried out in the London interbank Eurodollar market. 

Capital Expenditures means, for any period, the sum of the aggregate of all expenditures (whether paid in cash or other consideration
or accrued as a liability and including that portion of Capital Leases which is capitalized on the consolidated balance sheet of the Loan Parties) by the Loan Parties during that period that, in conformity with GAAP, are included in “additions
to property, plant or equipment” or comparable items reflected in the consolidated statement of cash flows of the Loan Parties, but excluding expenditures made in connection with 

  
 3 

 
the improvement, replacement, substitution or restoration of assets (or any addition thereto) to the extent financed (a) from insurance proceeds (or other similar recoveries) paid on account
of the loss of or damage to the assets being replaced or restored, (b) with cash awards of compensation arising from the taking by eminent domain or condemnation of the assets being replaced or (c) with cash proceeds from the sale or other
transfer of the assets being replaced that are timely reinvested and, thereby, not subject to mandatory prepayment in accordance with Section 2.9.2(a)(i). 

Capital Lease means, with respect to any Person, any lease of (or other agreement conveying the right to use) any real or personal
property by such Person that, (i) in conformity with GAAP, is accounted for as a capital lease on the balance sheet of such Person, or (ii) is a transaction of a type commonly known as a “synthetic lease” (i.e. a lease
transaction that is treated as an operating lease for accounting purposes but with respect to which payments of rent are intended to be treated as payments of principal and interest on a loan for Federal income tax purposes). 

Cash Equivalent Investment means, at any time, (a) any evidence of Debt, maturing not more than one year after such time, issued
or guaranteed by the United States Government or any agency thereof, (b) commercial paper, or corporate demand notes, in each case (unless issued by a Lender or its holding company) rated at least A-l by
Standard & Poor’s Ratings Group or P-l by Moody’s Investors Service, Inc., (c) any certificate of deposit (or time deposit represented by a certificate of deposit) or banker’s
acceptance maturing not more than one year after such time, or any overnight Federal Funds transaction that is issued or sold by a commercial banking institution that is a member of the Federal Reserve System and has a combined capital and surplus
and undivided profits of not less than $500,000,000, (d) any repurchase agreement entered into with commercial banking institution of the nature referred to in clause (c) above which (i) is secured by a fully perfected security interest in
any obligation of the type described in any of clauses (a) through (c) above and (ii) has a market value at the time such repurchase agreement is entered into of not less than 100% of the repurchase obligation of such commercial banking
institution thereunder, (e) money market accounts or mutual funds which invest exclusively in assets satisfying the foregoing requirements and (f) other short term liquid investments, if any, approved in writing by Lender. 

Cash Taxes means the amount of cash income taxes paid (or due to be paid) by the Loan Parties (without duplication), including
dividends and distributions paid by Borrower to Parent in accordance with Section 7.4, in an amount necessary to permit Parent to pay taxes as and when due with respect to income of Borrower,
Co-Borrower or the Subsidiaries. 
 Chattel Paper has the meaning set forth in the Guarantee
and Collateral Agreement. 
 Closing Date means the date on which all conditions precedent set forth in Section 4.1 have
been satisfied or waived in writing by Lender. 

  
 4 

 Co-Borrower has the meaning set forth in the
Preamble. 
 Collateral has the meaning set forth in the Guarantee and Collateral Agreement. 

Collateral Access Agreement means an agreement in form and substance reasonably satisfactory to Lender pursuant to which a mortgagee
or lessor of real property on which Collateral is stored or otherwise located, or a warehouseman, processor or other bailee of property owned by Borrower or any other Loan Party, acknowledges the Liens of Lender and waives (or, if approved by
Lender, subordinates) any Liens held by such Person on such property, and, in the case of any such agreement with a mortgagee or lessor, permits Lender reasonable access to and use of such real property during the continuance of an Event of Default
to assemble, complete and sell any Collateral stored or otherwise located thereon. 
 Collateral Documents means, collectively, the
Guarantee and Collateral Agreement, each Mortgage, each Collateral Access Agreement, each financing statement and each other agreement or instrument pursuant to or in connection with which any Loan Party or any other Person grants a security
interest in any Collateral to Lender in order to secure the Obligations, each as amended, restated or otherwise modified from time to time. 

Commitments means the Revolving Loan Commitment, the Term A Loan Commitment and the Term B Loan Commitment. 

Commitment Fee means the fee payable by Borrower and Co-Borrower to Lender pursuant to
Section 2.7.1. 
 Compliance Certificate means a certificate substantially in the form of Exhibit B. 

Computation Period means each period of four consecutive Fiscal Quarters ending on the last day of a Fiscal Quarter. 

Consolidated Net Income means, for any period, the consolidated net income (or loss) of the Loan Parties for such period,
excluding any gains or non-cash losses from Dispositions, any extraordinary or non-recurring gains or extraordinary or
non-recurring non-cash losses and any gains or non-cash losses from discontinued operations. 

Contingent Obligation means any agreement, undertaking or arrangement by which any Person guarantees, endorses or otherwise becomes or
is contingently liable upon (by direct or indirect agreement, contingent or otherwise, to provide funds for payment, to supply funds to or otherwise to invest in a debtor, or otherwise to assure a creditor against loss) any indebtedness, obligation
or other liability of any other Person (other than by endorsements of instruments in the course of collection), or guarantees the payment of dividends or other distributions upon the shares of any other Person. The amount of any Person’s
obligation in respect of any Contingent Obligation shall (subject to any limitation set forth therein) be deemed to be the principal amount of the debt, obligation or other liability supported thereby. 

  
 5 

 Controlled Group means all members of a controlled group of corporations and all
members of a controlled group of trades or businesses (whether or not incorporated) under common control which, together with Borrower, are treated as a single employer under Section 414 of the IRC or Section 4001 of ERISA. 

Conversion/Continuation Notice means a notice in substantially the form of Exhibit E. 

Debt of any Person means, without duplication, (a) all indebtedness of such Person, whether current or long-term, for borrowed
money, whether or not evidenced by bonds, debentures, notes or similar instruments, (b) all purchase money indebtedness, (c) all obligations of such Person to pay the deferred purchase price of property or services (excluding trade
accounts payable in the ordinary course of business and not outstanding for more than 90 days after the date such trade account payable was created or for more than 60 days after the due date thereof), including any obligations of any Loan Party to
make earn out or other contingency payments (including purchase price adjustments, non-competition and consulting agreements, or other indemnity obligations) pursuant to the documentation relating to such
acquisition, (d) all Attributable Indebtedness, (e) all indebtedness (excluding prepaid interest thereon) secured by a Lien on the property of 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 obligations, contingent or otherwise, with respect to the face amount of all letters of credit (whether or not drawn) and
banker’s acceptances issued for the account of such Person, (g) all Hedging Obligations of such Person, (h) all indebtedness of any partnership of which such Person is a general partner, (i) all Contingent Obligations of such
Person, (j) all surety and appeal bonds, performance bonds and other obligations of a like nature incurred in the ordinary course of business, and (k) all indebtedness of the types referred to in clauses (a) through (j) above of any
partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) of which such Person is a general partner or a joint venture, except to the extent that such indebtedness is expressly made non-recourse to such Person. 
 Debt to be Repaid means the Debt listed on Schedule 4.1.3.

 Default means any event that, if it continues uncured, will, with the lapse of time or the giving of notice or both, constitute
an Event of Default. 
 Disposition means, as to any asset or right of any Loan Party, (a) any sale, lease, assignment or other
transfer (other than to Borrower, Co-Borrower or any Wholly-Owned Subsidiary), (b) any loss, destruction or damage thereof or (c) any actual or threatened condemnation, confiscation, requisition, seizure
or taking thereof, in each case excluding assets subject to a Disposition which are replaced within 180 days with assets performing the same or a similar function. 

  
 6 

 Dollar and $ mean lawful money of the United States of America. 

Domestic Subsidiary means any Subsidiary that is incorporated or organized under the laws of a State within the United States of
America or the District of Columbia. Unless the context otherwise requires, each reference to Domestic Subsidiary or Domestic Subsidiaries herein shall be a reference to Subsidiary or Subsidiaries of Borrower. 

EBITDA means, for any period, Consolidated Net Income for such period plus, to the extent deducted in determining such
Consolidated Net Income and without duplication, (i) Interest Expense, income tax expense, depreciation and amortization for such period, (ii) Permitted Integration Services Fees and all other management fees paid to or accrued for the
benefit of Manager in such period to the extent permitted pursuant to Section 7.4, (iii) any extraordinary, unusual or non-recurring gains or losses or charges or credits, including cash closing fees and
expenses in connection with closing of the transactions contemplated by this Agreement (including any expenses relating to the granting of stock options); (iv) amounts accrued or paid during any Fiscal Year to consultants to Borrower or Co-Borrower, provided the projects for which and terms on which such consultants were engaged were pre-approved by Lender in writing, (v) any gain or loss associated with
the sale or write-down of assets not in the ordinary course of business, and (vi) all non-recurring, acquisition and other expenses, other than management fees paid to Manager; provided, that,
notwithstanding anything to the contrary contained herein, for each Fiscal Quarter, listed below, EBITDA shall be deemed to be the amount set forth below opposite such quarter: 

 

					
	 Fiscal Quarter Ending:
	  	EBITDA	 
	 September 30, 2015
	  	$	14,471,000	 
	 December 31, 2015
	  	$	8,534,000	 
	 March 31, 2016
	  	$	6,188,000	 
	 June 30, 2016
	  	$	7,272,000	 

 ECF Percentage means, for any Fiscal Year, 90%. 

Eligible Institution means (a) any Person that (i) is organized for the purpose of making equity or debt investments in one
or more other Persons and (ii) is an Affiliate of Lender or Manager, (b) any Person that invests in, or extends credit pursuant to, commercial loans in the ordinary course of business, or (c) any finance company, insurance company or
other financial institution which temporarily warehouses Loans for Lender or any Person described in clauses (a) or (b) above. 

Environmental Claims means all claims, however asserted, by any governmental, regulatory or judicial authority or other Person
alleging potential liability or responsibility for violation of any Environmental Law, or for release or injury to the environment or any Person or property. 

  
 7 

 Environmental, Health, and Safety Requirements has the meaning assigned to it in the
Purchase Agreement. 
 Environmental Laws means all present or future federal, state or local laws, statutes, common law duties,
rules, regulations, ordinances and codes, together with all administrative orders, directed duties, requests, licenses, authorizations and permits of, and agreements with, any Governmental Authority, in each case relating to any matter arising out
of or relating to health and safety, or pollution or protection of the environment or workplace, including any of the foregoing relating to the presence, use, production, generation, handling, transport, treatment, storage, disposal, distribution,
discharge, release, control or cleanup of any Hazardous Material. 
 ERISA means the Employee Retirement Income Security Act of
1974, as amended. 
 Event of Default means any of the events described in Section 8.1. 

Excess Cash means, with respect to Borrower, Co-Borrower and its Subsidiaries, the excess of
(i) the combined cash and Cash Equivalent Investments of Borrower, Co-Borrower and such Subsidiaries (exclusive of cash required to cover then outstanding checks) over (ii) $7,000,000. 

Excess Cash Flow means, with respect to each Fiscal Year (subject, in the case of the Fiscal Year that includes the Closing Date, to
the last sentence of this definition), the EBITDA for such Fiscal Year, minus the sum, in each case without duplication and to the extent not deducted from Consolidated Net Income in determining such EBITDA, of (i) scheduled repayments of
principal of Term Loans and other Debt (other than Revolving Loans) of Borrower, Co-Borrower and the Subsidiaries (in respect of Debt permitted in accordance with Section 7.1) made during such
Fiscal Year, (ii) voluntary prepayments of the Term Loans pursuant to Section 2.9.1 during such Fiscal Year, (iii) cash payments (not financed with the proceeds of Debt other than Revolving Loans) made in such Fiscal Year with
respect to Capital Expenditures permitted under Section 7.14.4, (iv) all federal, state, local and foreign income taxes paid in cash by Borrower, Co-Borrower and the Subsidiaries during such Fiscal
Year or payable with respect to such Fiscal Year by any of them within 75 days after the last day of such Fiscal Year, (v) all Interest Expense in respect of Debt permitted in accordance with Section 7.1 paid in cash by Borrower, Co-Borrower and the Subsidiaries during such Fiscal Year or payable with respect to such Fiscal Year by any of them within 30 days after the last day of such Fiscal Year, (vi) to the extent permitted under
Section 7.4, Permitted Integration Services Fees and all other management fees paid in cash to Manager during such Fiscal Year or payable to Manager with respect to such Fiscal Year within 30 days of the last day of such Fiscal Year,
(vii) any 

  
 8 

 
extraordinary, unusual or non-recurring gains or losses or charges or credits, including cash closing expenses in connection with closing of the
transactions contemplated by this Agreement, (viii) any gain or loss associated with the sale or write-down of assets not in the ordinary course of business; and (ix) any cash payments (not financed with the proceeds of Debt other than
Revolving Loans) to be made in connection with Acquisitions, if any, approved in advance by Lender in writing. Notwithstanding the foregoing, for purposes of the Fiscal Year that includes the Closing Date, Excess Cash Flow (and each of the elements
comprising Excess Cash Flow) shall be determined for the period from and including the Closing Date through December 31 of such Fiscal Year. 

Extraordinary Receipts means all net cash amounts received by any Loan Party not in the ordinary course of business (and not
consisting of proceeds of Dispositions or Indebtedness), including (i) pension plan reversions, (ii) proceeds of insurance, (iii) judgments, proceeds of settlements or other consideration of any kind in connection with any cause of
action, (iv) condemnation awards (and payments in lieu thereof), (v) indemnity payments and (vi) any purchase price adjustment received in connection with any purchase agreement and any amounts received from escrow arrangements in
connection with any purchase agreement. 
 Federal Funds Rate means, for any day, a rate per annum (rounded upward to the nearest
1/100th of 1%) equal to the rate published by the Federal Reserve Bank of New York on the preceding Business Day or, if no such rate is so published, the average rate per annum, as determined by Lender, quoted for overnight Federal Funds
transactions last arranged prior to such day. 
 Fiscal Quarter means a fiscal quarter of a Fiscal Year. 

Fiscal Year means the fiscal year of each Loan Party, which period shall be the 12-month
period ending on December 31 of each year (or, for the fiscal year that includes the Closing Date, the period beginning on the date of this Agreement and ending on December 31 of such fiscal year. 

Fixed Charge Coverage Ratio means for any period, the ratio of (a) the total for such period of EBITDA minus the
sum for such period of (i) all income taxes paid during the period by (reduced by all income taxes, if any, refunded or credited during the period to) the Loan Parties and income taxes paid within 75 days of the end of such period, for such
period, (ii) all Capital Expenditures and (iii) management fees paid in cash to Manager pursuant to the Management Agreement during such period or within 30 days of the end of such period to (b) the sum for such period of
(i) Interest charges accrued for such period and paid or payable in cash at any time plus (ii) required payments of principal of Debt (including the Term Loans but excluding the Revolving Loans). 

Foreign Subsidiary means any Subsidiary that is not incorporated or organized under the laws of a State within the United States of
America or the District of Columbia. 

  
 9 

 FRB means the Board of Governors of the Federal Reserve System or any successor
thereto. 
 GAAP means generally accepted accounting principles in effect in the United States of America 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 U.S. accounting profession), which are applicable to the circumstances as of the date of determination. 

General Intangible has the meaning set forth in the Guarantee and Collateral Agreement. 

Governmental Authority means any nation or government, any Federal, state, city, town, municipality, county, local or other political
subdivision thereof or thereto and any department, commission, board, bureau, instrumentality, agency or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to
government. 
 Guarantee and Collateral Agreement means that certain Guarantee and Collateral Agreement, dated as of the Closing
Date, by each Loan Party in favor of Lender, as amended, restated or otherwise modified from time to time. 
 Hazardous Material
means any hazardous wastes, or other wastes, chemical substances or mixtures, pesticides, pollutants, contaminants, toxic chemicals, petroleum products or byproducts, asbestos, polychlorinated biphenyls, or radiation regulated under, including any
material, substance or waste defined as a “hazardous waste,” “hazardous material,” “hazardous substance,” “toxic waste,” “hazardous pollutant” or “toxic substance” in, the Comprehensive
Environmental Response Compensation and Liability Act of 1980, as amended (42 U.S.C. Section 9601, et. seq.), the Occupational Health and Safety Act (29 U.S.C. Section 651, et. seq.), the Hazardous Materials Transportation Act, as amended
(49 U.S.C. Section 1801, et. seq.), the Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act, as amended (42 U.S.C. Section 6901, et. seq.), the Toxic Substances Control Act, as amended (15 U.S.C.
Section 2601, et. seq.), the Federal Water Pollution Control Act, as amended by the Clean Water Act, 33 U.S.C. Section 1251 et seq.; the Clean Air Act (42 U.S.C. Section 7401 et seq.), the Atomic Energy Act (42 U.S.C.
Section 2014, et seq.), and Energy Reorganization Act (42 U.S.C. Section 5801 et seq.), each and all as amended, and each state counterpart, or any other Environmental, Health, and Safety Requirements, provided that the term
“Hazardous Materials” shall not include any soil, cuttings, liquids, or other material accepted, processed, generated, handled, recycled, treated, placed, deposited and/or disposed as part of the ordinary course operations and business of
the Loan Parties. 

  
 10 

 Hedging Obligation means, with respect to any Person, any liability of such Person
under any interest rate, currency or commodity swap agreement, cap agreement or collar agreement, and any other agreement or arrangement designed to protect a Person against fluctuations in interest rates, currency exchange rates or commodity
prices. The amount of any Person’s obligation in respect of any Hedging Obligation shall be deemed to be the incremental obligation that would be reflected in the financial statements of such Person in accordance with GAAP. 

Integration Services Agreement means that certain Integration Services Agreement, dated as of August 31, 2016, by and between Co-Borrower and Manager. 
 Integration Services Fee means the fee payable to Manager pursuant to
the Integration Services Agreement in an amount not to exceed $3,500,000. 
 Interest Determination Date has the meaning set forth
within the defined term Applicable Margin. 
 Interest Expense means for any period the consolidated interest expense of the Loan
Parties for such period (including all imputed interest on Capital Leases). 
 Interest Period means, as to any LIBOR Loan, the
period commencing on the date such Loan is borrowed or continued as, or converted into, a LIBOR Loan and ending on the date one, two or three months thereafter, as selected by Borrower pursuant to Section 2.2.2 or 2.2.3, as the
case may be; provided, that: (a) if any Interest Period would otherwise end on a day that is not a Business Day, such Interest Period shall be extended to the following Business Day unless the result of such extension would be to carry such
Interest Period into another calendar month, in which event such Interest Period shall end on the preceding Business Day; (b) any Interest Period that begins 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; (c) Borrower may not select any Interest Period for a Revolving Loan which would extend beyond the scheduled
Termination Date; and (d) Borrower may not select any Interest Period for a Term Loan if, after giving effect to such selection, the aggregate principal amount of all Term Loans having Interest Periods ending after any date on which an
installment of the Term Loans is scheduled to be repaid would exceed the aggregate principal amount of the Term Loans scheduled to be outstanding after giving effect to such repayment. 

Investment means, with respect to any Person, (a) the purchase of any debt or equity security of any other Person, (b) the
making of any loan or advance to any other Person, (c) becoming obligated with respect to a Contingent Obligation in respect of obligations of any other Person (other than travel and similar advances to employees in the ordinary course of
business) or (d) the making of an Acquisition. 

  
 11 

 Investment Affiliate means, with respect to Manager, any fund or investment vehicle
that (a) is organized by Manager for the purpose of making equity or debt investments in one or more companies and (b) is controlled by Manager. For purposes of this definition “control” means the power to direct or cause the
direction of management and policies of a Person, whether by contract or otherwise. 
 IRC means the Internal Revenue Code of 1986,
as amended. 
 Legal Costs means, with respect to any Person, (a) all reasonable fees and charges of any counsel (including
counsel employed by such Person), accountants, auditors, appraisers, consultants and other professionals to such Person, and (b) all court costs and similar legal expenses. 

Lender has the meaning set forth in the Preamble. 

Letter of Credit has the meaning set forth in Section 2.3.1. 

LIBOR Loan means any Loan which bears interest at a rate determined by reference to the LIBOR Rate. 

LIBOR Rate means, with respect to any LIBOR Loan for any Interest Period, a rate per annum (rounded upwards, if necessary, to the
nearest 1/10,000 of 1%) equal to the greater of (a) 1.0% and (b) (i) the offered rate for deposits in Dollars for the applicable Interest Period and for the amount of the applicable LIBOR Loan that appears on Telerate Page 3750 at 11:00 a.m.
London time (or, if not so appearing, as published in the “Money Rates” section of The Wall Street Journal or another national publication selected by Lender) two Business Days prior to the first day of such Interest Period, divided
by (ii) the sum of one minus the daily average during such Interest Period of the aggregate maximum reserve requirement (expressed as a decimal) then imposed under Regulation D of the FRB for “Eurocurrency Liabilities” (as defined
therein). 
 Lien means, with respect to any Person, any interest granted by such Person in any real or personal property, asset or
other right owned or being purchased or acquired by such Person which secures payment or performance of any obligation and shall include any mortgage, lien, pledge, encumbrance, charge or other security interest of any kind, whether arising by
contract, as a matter of law, by judicial process or otherwise. 
 Loan Documents means this Agreement, the Notes, the Collateral
Documents and all documents, instruments and agreements delivered in connection with the foregoing, all as amended, restated or otherwise modified from time to time. 

Loan Party means each of Parent, Borrower, Co-Borrower and each Subsidiary; collectively, the
Loan Parties. 

  
 12 

 Loans mean Revolving Loans and Term Loans. 

Management Agreement means the Management Agreement, dated as of the date of this Agreement, by and between the Manager and Borrower.

 Manager means Compass Group Management LLC, a Delaware limited liability company. 

Margin Stock means any “margin stock” as defined in Regulation T, U or X of the FRB. 

Material Adverse Effect means a material adverse change in, or a material adverse effect upon, (a) the financial condition,
operations, assets, business, properties or prospects of the Loan Parties taken as a whole, (b) the ability of any Loan Party to perform any of its Obligations under any Loan Document, or (c) the rights and remedies of Lender under any
Loan Document, the validity, perfection or priority of any Lien in favor of Lender on any substantial portion of the Collateral under the Collateral Documents or upon the legality, validity, binding effect or enforceability against any Loan Party of
any Loan Document, in each case taken as a whole; provided, however, that the following events, changes, conditions or effects shall not be deemed to have a “Material Adverse Effect”: (i) any event change, condition or effect occurring
generally in the industry in which Borrower, Co-Borrower or any of the Subsidiaries operates; (ii) changes in events, conditions or effects in connection with general economic or political conditions;
(iii) any adverse change in the financial condition, operations, assets, business, properties or prospects of the Loan Parties taken as a whole that does not impact the long term economic prospects and performance of the Loan Parties taken as a
whole; or (iv) a failure to meet internal projections or forecasts. 
 Mortgage means a mortgage, deed of trust, leasehold
mortgage or similar instrument granting Lender a Lien on a real property interest of any Loan Party, each as amended, restated or otherwise modified from time to time. 

Multiemployer Pension Plan means a multiemployer plan, as defined in Section 4001(a)(3) of ERISA, to which Borrower or any member
of the Controlled Group may have any liability. 
 Net Cash Proceeds means: 

(a) with respect to any Disposition, the aggregate cash proceeds (including cash proceeds received pursuant to policies of insurance and by
way of deferred payment of principal pursuant to a note, installment receivable or otherwise, but only as and when received) received by any Loan Party pursuant to such Disposition net of (i) the reasonable direct costs relating to such
Disposition (including sales commissions and legal, accounting and investment banking fees, commissions and expenses and, in the case of a Disposition of any asset, costs of 

  
 13 

 
preparing such asset for sale), (ii) any portion of such proceeds deposited in an escrow account pursuant to the documentation relating to such Disposition (provided that such amounts shall be
treated as Net Cash Proceeds upon their release from such escrow account to the applicable Loan Party), (iii) taxes paid or reasonably estimated by Borrower to be payable as a result thereof (after taking into account any available tax credits or
deductions and any tax sharing arrangements), (iv) amounts required to be applied to the repayment of any Debt secured by a Lien prior to the Lien of Lender on the asset subject to such Disposition, and (v) with respect to any Disposition, all
money actually applied within 180 days to repair, replace or reconstruct damaged property or property affected by loss, destruction, damage, condemnation, confiscation, requisition, seizure or taking, all of the costs and expenses reasonably
incurred in connection with the collection of such proceeds, award or other payments, and any amounts retained by or paid to parties having superior rights to such proceeds, awards or other payments; and 

(b) with respect to any issuance of equity securities, the aggregate cash proceeds received by any Loan Party pursuant to such issuance, net
of the reasonable direct costs relating to such issuance (including reasonable sales and underwriter’s commission). 
 Non-Senior Debt means the Term B Loans plus any unsecured Debt of any Loan Party which has subordination terms, covenants, pricing and other terms which have been approved in writing by Lender. 

Note means a promissory note substantially in the form of Exhibit C, as the same may be amended, restated or otherwise modified
from time to time. 
 Obligations means all liabilities, indebtedness and obligations (whether monetary or otherwise and including
post-petition interest, whether or not allowed) of any Loan Party under this Agreement, any other Loan Document, any Collateral Document or any other document or instrument executed in connection herewith or therewith and all Hedging Obligations
permitted hereunder which are owed to Lender or its Affiliates, in each case howsoever created, arising or evidenced, whether direct or indirect, absolute or contingent, liquidated or unliquidated, disputed or undisputed, legal or equitable, secured
or unsecured, now or hereafter existing, or due or to become due, and whether or not a claim for any of the foregoing is allowed in whole or in part in any proceeding under the Bankruptcy Code with respect to any Loan Party. 

Operating Lease means any lease of (or other agreement conveying the right to use) any real or personal property by Borrower, Co-Borrower or any Subsidiary, as lessee, other than any Capital Lease. 
 Paid in Full means,
with respect to any Obligations, (a) the payment in full in cash and performance of all such Obligations, and (b) the termination of all Commitments relating to such Obligations. 

  
 14 

 Parent means 5.11 ABR Corp., a Delaware corporation. 

PBGC means the Pension Benefit Guaranty Corporation and any entity succeeding to any or all of its functions under ERISA. 

Pension Plan means a “pension plan”, as such term is defined in Section 3(2) of ERISA, which is subject to Title IV of
ERISA (other than a Multiemployer Pension Plan), and to which Borrower or any member of the Controlled Group may have any liability, including any liability by reason of having been a substantial employer within the meaning of Section 4063 of
ERISA at any time during the preceding five years, or by reason of being deemed to be a contributing sponsor under Section 4069 of ERISA. 

Permitted Integration Services Fees means the Integration Services Fee and all other management or consulting fees payable to the
Manager by any Loan Party in connection with the acquisitions of target businesses by any Loan Party or dispositions of the property or assets of any Loan Party to the extent that such fees are paid within 13 months of the applicable acquisition or
disposition, provided such fees have been approved by the board of directors of Borrower and by Lender. 
 Permitted Management Fees
means management or consulting fees payable pursuant to the terms of the Management Agreement in an aggregate amount not to exceed $1,000,000 in any Fiscal Year. 

Person means any natural person, corporation, partnership, trust, limited liability company, association, Governmental Authority or
unit, or any other entity, whether acting in an individual, fiduciary or other capacity. 
 Pro Rata Revolving Share means, with
respect to Lender or any Assignee, the applicable percentage (as adjusted from time to time in accordance with the terms hereof) specified opposite such Person’s name on Annex I which corresponds to the Revolving Loan Commitment, which
percentage shall be with respect to Revolving Loans outstanding if the Revolving Loan Commitment has terminated. 
 Pro Rata Share
means, with respect to Lender or any Assignee, the applicable percentage (as adjusted from time to time in accordance with the terms hereof) obtained by dividing (a) the sum of such Person’s (i) Pro Rata Revolving Share of the
Revolving Loan Commitment (or if the Revolving Loan Commitment has terminated, such Person’s Pro Rata Revolving Share of the Revolving Loans outstanding), (ii) Pro Rata Term A Loan Share of the Term A Loans) and (iii) Pro Rata Term B Loan
Share of the Term B Loans, by (b) the Total Loan Commitment. 

  
 15 

 Pro Rata Term A Loan Share means, with respect to Lender or any Assignee, the
applicable percentage (as adjusted from time to time in accordance with the terms hereof) specified opposite such Person’s name on Annex I which corresponds to the Term A Loans. 

Pro Rata Term B Loan Share means, with respect to Lender or any Assignee, the applicable percentage (as adjusted from time to time in
accordance with the terms hereof) specified opposite such Person’s name on Annex I which corresponds to the Term B Loans. 

Purchase Agreement means that certain Agreement and Plan of Merger, by and among Parent, 5.11 ABR Merger Corp., a Delaware
corporation, Borrower and TA Associates Management, L.P., as the Securityholders’ Agent, dated as of July 29, 2016. 
 Related
Transactions means the transactions contemplated by the Purchase Agreement. 
 Revolving Loan Commitment means $25,000,000 (as
reduced from time to time pursuant to the terms hereof), plus such additional amounts, if any, that Lender may, in its sole discretion, from time to time commit to advance as Revolving Loans in connection with one or more Acquisitions; provided,
however, that no advance in respect of any such additional Revolving Loan Commitment shall exceed that amount that would result in: (i) the Senior Debt to EBITDA Ratio exceeding 4.5 to 1.0; or (ii) the Total Debt to EBITDA Ratio exceeding
6.5 to 1.0, with both such ratios calculated as of the last day of the Fiscal Quarter immediately preceding the Fiscal Quarter in which such additional amount is to be advanced and on a pro forma basis based on EBITDA for the Computation Period as
if the applicable Acquisition had been consummated on the calculation date, with such adjustments thereto as may be determined necessary or appropriate by Lender. 

Revolving Loans has the meaning set forth in Section 2.1.1. 

Securitization Transaction means, with respect to any Person, any financing transaction or series of financing transactions (including
factoring arrangements) pursuant to which such Person or any Subsidiary of such Person may sell, convey or otherwise transfer, or grant a security interest in, accounts, payments, receivables, rights to future lease payments or residuals or similar
rights to payment to a special purpose Subsidiary or other Affiliate of such Person. 
 Senior Debt means, as of any day, the
Revolving Loans, to the extent outstanding at the end of such day, plus the aggregate principal amount of the Term A Loans outstanding at the end of such day, plus all obligations, contingent or otherwise, with respect to the face amount of all
letters of credit (whether or not drawn) and banker’s acceptances, if any, issued for the account of a Loan Party and outstanding at the end of such day. 

  
 16 

 Senior Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the
ratio of (i) Senior Debt as of such day to (ii) EBITDA for the Computation Period ending on such day. 
 Stated Amount
means, with respect to any Letter of Credit at any date of determination, (a) the maximum aggregate amount available for drawing thereunder under any and all circumstances, plus (b) the aggregate amount of all unreimbursed payments and
disbursements under such Letter of Credit. 
 Subsidiary means, with respect to any Person, a corporation, partnership, limited
liability company or other entity of which such Person owns, directly or indirectly, such number of outstanding shares or other equity interests as to have more than 50% of the ordinary voting power for the election of directors or other managers of
such corporation, partnership, limited liability company or other entity. Unless the context otherwise requires, each reference to Subsidiary or Subsidiaries herein shall be a reference to Subsidiary or Subsidiaries of Borrower. 

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 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 has the meaning set forth in Section 3.1(a). 

Term A Loan Commitment means $125,000,000 plus, after the Closing Date, such additional amounts, if any, that Lender may, in its sole
discretion, from time to time advance as Term A Loans in connection with one or more Acquisitions; provided, however, that no such additional Term A Loan Commitment shall exceed that amount which would result in Borrower’s: (i) Senior Debt
to EBITDA Ratio exceeding 4.5 to 1.0; or (ii) Total Debt to EBITDA Ratio exceeding 6.5 to 1.0, with both such ratios calculated as of the last day of the Fiscal Quarter immediately preceding the Fiscal Quarter in which such additional amount is
to be advanced and on a pro forma basis based on EBITDA for the Computation Period as if the applicable Acquisition had been consummated on the calculation date, with such adjustments thereto as may be determined necessary or appropriate by Lender.

 Term A Loan Maturity Date means August 31, 2022 or such earlier date on which the Commitments terminate pursuant to
Section 8. 
 Term A Loans means a loan from Lender to Borrower and Co-Borrower
in the principal amount of the Term A Loan Commitment on the Closing Date, together with such other loans, if any, pursuant to the Term A Loan Commitment. 

  
 17 

 Term B Loan Commitment means $50,000,000 plus, after the Closing Date, such
additional amounts, if any, that Lender may, in its sole discretion, from time to time advance as Term B Loans in connection with one or more Acquisitions; provided, however, that no such additional Term B Loan Commitment shall exceed that amount
which would result in Borrower’s Total Debt to EBITDA Ratio exceeding 6.5 to 1.0, with such ratio to be calculated as of the last day of the Fiscal Quarter immediately preceding the Fiscal Quarter in which such additional amount is to be
advanced and on a pro forma basis based on EBITDA for the Computation Period as if the applicable Acquisition had been consummated on the calculation date, with such adjustments thereto as may be determined necessary or appropriate by Lender. 

Term B Loan Maturity Date means August 31, 2023 or such earlier date on which the Commitments terminate pursuant to
Section 8. 
 Term B Loans means a loan from Lender to Borrower and Co-Borrower
in the principal amount of the Term B Loan Commitment on the Closing Date, together with such other loans, if any, pursuant to the Term B Loan Commitment. 

Term Loan Commitments means the Term A Loan Commitment and the Term B Loan Commitment, collectively. 

Term Loans means the Term A Loans and the Term B Loans, collectively. 

Termination Date means August 31, 2022 or such earlier date on which the Revolving Loan Commitment terminates pursuant to
Section 2.9 or Section 8. 
 Total Debt means, as of any day, all Debt (other than Debt described in clause
(g) of the definition thereof and Debt of any Loan Party to another Loan Party) of the Loan Parties at the end of such day, determined on a consolidated basis. 

Total Debt to EBITDA Ratio means, as of the last day of any Fiscal Quarter, the ratio of: (a) Total Debt as of such day to
(b) EBITDA for the Computation Period ending on such day. 
 Total Loan Commitment means at any date of determination, the sum
of (i) the Revolving Loan Commitment (or if the Revolving Loan Commitment has terminated, the Revolving Loans then outstanding) at the end of such date plus (ii) the outstanding principal balance of the Term Loans at the end of such date
plus (iii) to the extent, if any, that the Term Loan Commitments remain unused and in effect, the amount of such remaining Term Loan Commitments. 

Unused Availability Fee means the fee payable by Borrower and Co-Borrower to Lender pursuant
to Section 2.7.2. 

  
 18 

 Wholly-Owned Subsidiary means, as to any Person, another Person all of the equity
interests of which (except directors’ qualifying shares) are at the time directly or indirectly owned by such Person and/or another Wholly-Owned Subsidiary of such Person. Unless the context otherwise requires, each reference to Wholly-Owned
Subsidiary or Wholly-Owned Subsidiaries herein shall be a reference to Wholly-Owned Subsidiary or Wholly-Owned Subsidiaries of Borrower. 

1.2 Interpretation. 
 In
the case of this Agreement and each other Loan Document, (a) the meanings of defined terms are equally applicable to the singular and plural forms of the defined terms; (b) Annex, Exhibit, Schedule and Section references are to such Loan
Document unless otherwise specified; (c) the term “including” is not limiting and means “including but not limited to”; (d) 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”; (e) unless otherwise expressly
provided in such Loan Document, (i) references to agreements and other contractual instruments shall be deemed to include all subsequent amendments and other modifications thereto, but only to the extent such amendments and other modifications
are not prohibited by the terms of any Loan Document, and (ii) references to any statute or regulation shall be construed as including all statutory and regulatory provisions amending, replacing, supplementing or interpreting such statute or
regulation; (f) this Agreement and the other Loan Documents may use several different limitations, tests or measurements to regulate the same or similar matters, all of which are cumulative and each shall be performed in accordance with its
terms; (g) this Agreement and the other Loan Documents are the result of negotiations among and have been reviewed by counsel to Lender, Borrower and the other parties thereto and are the products of all parties; accordingly, they shall not be
construed against Lender merely because of Lender’s involvement in their preparation; and (h) the term “or” has, except where otherwise indicated, the inclusive meaning represented by the phrase “and/or.” 

Section 2. Credit Facilities. 
 2.1
Commitments. 
 On and subject to the terms and conditions of this Agreement, Lender agrees as follows: 

2.1.1 Revolving Loan Commitments. 

Lender will make loans to Borrower and Co-Borrower on a revolving basis (“Revolving
Loans”) from time to time (which Revolving Loans may be repaid by Borrower and Co-Borrower in whole or in part from time to time) until the Termination Date in such amounts as Borrower or Co-Borrower may request from Lender; provided, that after giving effect to such Revolving Loans, the Revolving Loans outstanding will not at any time exceed the Revolving Loan Commitment minus the aggregate Stated
Amount of all outstanding Letters of Credit. 

  
 19 

 2.1.2 Term Loan Commitments. 

Lender agrees to make (a) a Term A Loan to Borrower and Co-Borrower on the Closing Date in an
amount equal to the Term A Loan Commitment as of the Closing Date, and (b) a Term B Loan to Borrower and Co-Borrower on the Closing Date in an amount equal to the Term B Loan Commitment as of the Closing
Date. Lender shall have no obligation to make Term Loans after the Closing Date. Term Loans which are repaid or prepaid by Borrower or Co-Borrower, in whole or in part, may not be re-borrowed. 
 2.2 Loan Procedures. 

2.2.1 Loan Types. 
 Each
Loan shall be either a Base Rate Loan or a LIBOR Loan, as Borrower shall specify in the related notice of borrowing or conversion pursuant to Section 2.2.2 or 2.2.3. Base Rate Loans and LIBOR Loans may be outstanding at the same
time, provided that not more than three different Interest Periods shall exist among outstanding LIBOR Loans at any one time. All borrowings, conversions and repayments of Revolving Loans shall be effected so that Lender and each Assignee will have
a ratable share (according to its Pro Rata Revolving Share) of all Revolving Loans and all Interest Periods of LIBOR Loans. Notwithstanding the foregoing or any other provision of this Agreement, Borrower may not make, and Lender shall not be
obligated to fund, more than one (1) Revolving Loan borrowing during any single calendar week; provided, however, Borrower may from time to time request additional Revolving Loan borrowings for emergency funding purposes and Lender shall use
its best efforts to fund such emergency Revolving Loan borrowings. 
 2.2.2 Borrowing. 

Borrower shall give written (including via email) notice or telephonic notice (followed immediately by written confirmation thereof) to
Lender of each proposed borrowing of a Revolving Loan not later than (a) in the case of a Base Rate borrowing, 11:00 a.m. New York City time at least one (1) Business Day prior to the proposed date of such borrowing, and (b) in the
case of a LIBOR borrowing, 11:00 a.m. New York City time at least three (3) Business Days prior to the proposed date of such borrowing. Each such notice shall be effective upon receipt by Lender, shall be irrevocable, and shall specify, in the
form of a Borrowing Notice, the date, amount and type of borrowing and, in the case of LIBOR borrowing, the initial Interest Period therefor. So long as Borrower’s request is timely made and the conditions precedent set forth in
Section 4 with respect to such borrowing have been satisfied, Lender shall pay over the proceeds of such borrowing request to Borrower on the requested borrowing date. Each borrowing shall be on a Business Day. Each Base Rate borrowing
shall be in an aggregate amount of $250,000 or of any integral multiple of $50,000 in excess thereof, and each LIBOR borrowing shall be in an aggregate amount of $250,000 or of any integral multiple of $50,000 in excess thereof. 

  
 20 

 2.2.3 Conversion; Continuation. 

(a) Subject to Section 2.2.1, Borrower may, upon irrevocable written (including via email) notice to Lender in accordance with
clause (b) below, elect (i) as of any Business Day, to convert any Loans (or any part thereof in an aggregate amount of not less than $250,000 or a higher integral multiple of $50,000) into Loans of the other type or (ii) as of the
last day of the applicable Interest Period, to continue any LIBOR Loans having Interest Periods expiring on such day (or any part thereof in an aggregate amount not less than $250,000 or a higher integral multiple of $50,000) for a new Interest
Period; provided, that any conversion of a LIBOR Loan on a day other than the last day of an Interest Period therefor shall be subject to Section 3. 

(b) Borrower shall give written (including via email) or telephonic notice (followed immediately by written confirmation thereof) to Lender
of each proposed conversion or continuation not later than (i) in the case of conversion into Base Rate Loans, 11:00 a.m. New York City time at least one Business Day prior to the proposed date of such conversion and (ii) in the case of
conversion into or continuation of LIBOR Loans, 11:00 a.m. New York City time at least four Business Days prior to the proposed date of such conversion or continuation, specifying in each case in the form of a Conversion/Continuation Notice:
(1) the proposed date of conversion or continuation; (2) the aggregate amount of Loans to be converted or continued; (3) the type of Loans resulting from the proposed conversion or continuation; and (4) in the case of conversion
into, or continuation of, LIBOR Loans, the duration of the requested Interest Period therefor. 
 (c) If upon the expiration of any
Interest Period applicable to LIBOR Loans, Borrower has failed to select timely a new Interest Period to be applicable to such LIBOR Loans, Borrower shall be deemed to have elected to convert such LIBOR Loans into Base Rate Loans effective on the
last day of such Interest Period. 
 2.3 Letters of Credit. 

2.3.1 At the request of Borrower, Lender may issue, or cause to be issued, from time to time before the date which is 30 days prior to the
Termination Date standby letters of credit, or participation agreements confirming payment to issuers (reasonably acceptable to Lender) of standby letters of credit, in each case for the account of any Loan Party and containing terms and conditions
which are consistent with this Agreement and reasonably satisfactory to Lender (each such standby letter of credit and participation agreement, a “Letter of Credit”). With respect to the outstanding face amount drawn on each such
Letter of Credit, Borrower and Co-Borrower shall pay to Lender a fee equal to the Applicable Margin per annum for LIBOR Rate Revolving Loans, calculated based upon a year of 365 days for actual days
outstanding and payable on the 

  
 21 

 
last day of each calendar quarter in arrears. In addition, with respect to each Letter of Credit, Borrower and Co-Borrower shall pay to or as directed by
Lender such additional customary fees as Borrower and Lender may from time to time agree. After giving effect to each such issuance, the aggregate Stated Amount of all Letters of Credit shall not at any time exceed the least of (a) $3,000,000 and
the Revolving Loan Commitment minus the aggregate amount of all then outstanding Revolving Loans. Borrower shall give notice to Lender of the proposed issuance of each Letter of Credit on a Business Day which is at least ten (10) Business Days
(or such lesser number of days as Lender shall agree) prior to the proposed date of issuance of such Letter of Credit. Each such notice shall be accompanied by a Letter of Credit application in form reasonably acceptable to Lender, duly executed by
Borrower, together with such other documentation as Lender may request in support thereof, it being understood that each Letter of Credit application shall specify, among other things, the date on which the proposed Letter of Credit is to be issued,
and the expiration date of such Letter of Credit (which shall not be later than the earlier to occur of (a) one year after the date of issuance thereof and (b) 30 days prior to the scheduled Termination Date). 

2.3.2 Borrower and Co-Borrower hereby unconditionally and irrevocably agree to reimburse Lender for
each payment or disbursement made by Lender under any Letter of Credit honoring any demand for payment made thereunder, in each case on the date that such payment or disbursement is made. Lender shall promptly notify Borrower whenever any demand for
payment is made under any Letter of Credit; provided, that the failure of Lender to so notify Borrower shall not affect the rights of Lender in any manner whatsoever. Any amount not reimbursed on the date of such payment or disbursement shall bear
interest from the date of such payment or disbursement to the date that Lender is reimbursed therefor, payable on demand, at the interest rate per annum from time to time in effect for Revolving Loans which are Base Rate Loans. 

2.3.3 Borrower’s and Co-Borrower’s reimbursement obligations hereunder shall be irrevocable
and unconditional under all circumstances, including (i) any lack of validity or enforceability of any Letter of Credit, this Agreement or any other Loan Document, (ii) the existence of any claim,
set-off, defense or other right which any Loan Party may have at any time against a beneficiary named in a Letter of Credit, any transferee of any Letter of Credit (or any Person for whom any such transferee
may be acting), Lender or any other Person, whether in connection with any Letter of Credit, this Agreement, any other Loan Document, the transactions contemplated herein or any unrelated transactions (including any underlying transaction between
any Loan Party and the beneficiary named in any Letter of Credit), (iii) the validity, sufficiency or genuineness of any document which Lender (or, as applicable, the issuer of any underlying letter of credit) has determined complies on its face
with the terms of the applicable Letter of Credit (or, if applicable, underlying letter of credit), even if such document should later prove to have been forged, fraudulent, invalid or insufficient in any respect or any statement therein shall have
been untrue or inaccurate in any respect, or (iv) the surrender or impairment of any security for the performance or observance of any of the terms hereof. 

  
 22 

 2.4 Certain Conditions. 

Notwithstanding any other provision of this Agreement, Lender shall not have an obligation to make any Loan, or to permit the continuation of
any expiring LIBOR Loan as a LIBOR Loan, or to permit any conversion into any LIBOR Loan, if an Event of Default or Default exists. 
 2.5
Loan Accounting. 
 2.5.1 Recordkeeping. 

Lender shall record in its records the date and amount of each Loan made and each repayment or conversion thereof and, in the case of each
LIBOR Loan, the dates on which each Interest Period for such Loan shall begin and end. The aggregate unpaid principal amount so recorded shall be rebuttably presumptive evidence of the principal amount of the Loans owing and unpaid. The failure to
so record any such amount or any error in so recording any such amount shall not, however, limit or otherwise affect the Obligations of Borrower hereunder or under any Note to repay the principal amount of the Loans hereunder, together with all
interest accruing thereon. 
 2.6 Interest. 

2.6.1 Interest Rates. 

Borrower and Co-Borrower promise to pay interest on the unpaid principal amount of each Loan for the
period commencing on the date of such Loan until such Loan is Paid in Full as follows: (a) for each Revolving Loan and Term A Loan, at all times while such Revolving Loan or Term A Loan is a Base Rate Loan, at a rate per annum equal to the sum
of the Base Rate from time to time in effect plus the Applicable Margin; (b) for each Revolving Loan and Term A Loan at all times while such Revolving Loan or Term A Loan is a LIBOR Loan, at a rate per annum equal to the sum of the LIBOR Rate
applicable to each Interest Period for such Loan plus the Applicable Margin, and (c) for each Term B Loan, at a rate per annum equal to 12%, comprised entirely of cash interest; provided, that (i) at any time an Event of Default exists, if
requested by Lender, the interest rate otherwise corresponding to each Loan shall be increased by two (2.0) percentage points per annum, (ii) any such increase may thereafter be rescinded by Lender, and (iii) upon the occurrence of an
Event of Default under Section 8.1.1 or 8.1.3, any such increase described in the foregoing clause (i) shall occur automatically. In no event shall interest payable by Borrower and
Co-Borrower to Lender hereunder exceed the maximum rate permitted under applicable law, and if any such provision of this Agreement is in contravention of any such law, such provision shall be deemed modified
to limit such interest to the maximum rate permitted under such law. 

  
 23 

 2.6.2 Interest Payment Dates. 

Accrued interest on each Base Rate Loan and on the Term B Loan shall be payable in arrears on the first day of each calendar month and at
maturity in cash. Accrued interest on each LIBOR Loan shall be payable (a) on the last day of each Interest Period relating to such Loan, (b) upon a prepayment of such Loan in accordance with Section 2.9 and (c) at
maturity in cash. After maturity and at any time an Event of Default exists, all accrued interest on all Loans shall be payable in cash on demand at the rates specified in Section 2.6.1. 

2.6.3 Setting and Notice of LIBOR Rates. 

The applicable LIBOR Rate for each Interest Period shall be determined by Lender, and notice thereof shall be given by Lender promptly to
Borrower. Each determination of the applicable LIBOR Rate by Lender shall be conclusive and binding upon the parties hereto, in the absence of demonstrable error. Lender shall, upon written request of Borrower, deliver to Borrower a statement
showing the computations used by Lender in determining any applicable LIBOR Rate hereunder. 
 2.6.4 Computation of Interest. 

Interest shall be computed by Lender for the actual number of days elapsed on the basis of a year of (a) 365/366 days for interest calculated
at the Base Rate and (b) 360 days for interest calculated at the LIBOR Rate. The applicable interest rate for each Base Rate Loan shall change simultaneously with each change in the Base Rate. Lender shall determine each interest rate applicable to
the Loans and its determination thereof, and its computation of interest thereon, shall be conclusive in the absence of manifest error. 

2.7 Fees. 
 2.7.1
Commitment Fee. 
 Borrower and Co-Borrower jointly and severally agree to pay to Lender on
the Closing Date a commitment fee (the “Commitment Fee”) equal to the sum of (i) 1.00% of the aggregate Revolving Loan commitment and Term A Loan amounts plus (ii) 2.00% of the Term B Loan amount. 

  
 24 

 2.7.2 Unused Availability Fee. 

For the period from the Closing Date to the Termination Date, Borrower and Co-Borrower jointly and
severally agree to pay to Lender a fee (the “Unused Availability Fee”) equal to 0.5% multiplied by the amount by which the Revolving Loan Commitment exceeds the average daily Revolving Loans outstanding plus the aggregate Stated
Amount of all outstanding Letters of Credit. The Unused Availability Fee shall be payable in arrears on the first day of each calendar quarter and on the Termination Date for any period then ending for which the Unused Availability Fee shall not
have previously been paid. The Unused Availability Fee shall be computed by Lender for the actual number of days elapsed on the basis of a year of 360 days. 

2.7.3 Additional Commitment Fees. 

Borrower and Co-Borrower jointly and severally agree to pay to Lender on each date, if any, on which
(i) additional Term A Loan commitments are made (or additional Term A Loans advanced) or additional Revolving Loan commitments are made, in each case after the Closing Date, an amount equal to 1.00% multiplied by the amount of each such
post-Closing Date advance or commitment, and (ii) additional Term B Loan commitments are made (or additional Term B Loans advanced), in each case, after the Closing Date an amount equal to 2% multiplied by the amount of each such post-Closing
Date advance or commitment. 
 2.8 Commitment Reduction. 

2.8.1 Voluntary Reduction or Termination of Revolving Loan Commitment. 

Borrower may from time to time on at least five Business Days’ prior written notice received by Lender permanently reduce the Revolving
Loan Commitment to an amount not less than the sum of (i) Revolving Loans outstanding plus (ii) the aggregate Stated Value of all outstanding Letters of Credit. Any such reduction shall be in an amount not less than $500,000 or a higher
integral multiple of $100,000. Concurrently with any reduction of the Revolving Loan Commitment to zero, Borrower shall pay all interest on the Revolving Loans and all accrued and unpaid fees owing in respect thereof, including any Unused
Availability Fee. 
 2.9 Prepayment. 

2.9.1 Voluntary Prepayment. 

Borrower and Co-Borrower may from time to time, on at least one Business Day’s written
(including via email) notice or telephonic notice (if a telephonic notice, followed immediately by written confirmation thereof) to Lender not later than 11:00 a.m. New York City time on such day, prepay the Loans in whole or in part; provided that
Borrower may not prepay all or any portion of the Term B Loans if, either immediately prior to or after giving effect to any such prepayment, any portion of the Revolving Loans or Term A Loans are outstanding. Such notice to Lender shall specify the
Loans to be prepaid and the date and amount of prepayment. 

  
 25 

 Any such partial prepayment shall be in an amount equal to $500,000 or a higher integral multiple of
$100,000. All prepayments of Term Loans pursuant to this Section 2.9.1 shall be applied pursuant to Section 2.9.3. 

2.9.2 Mandatory Prepayment. 

(a) Subject to Section 2.9.2(c), Borrower and Co-Borrower shall prepay, first, the Term A
Loans until Paid in Full, second, the Term B Loans until Paid in Full (in each case in the inverse order of maturity to the remaining installments thereof), and third, the Revolving Loans until Paid in Full, at the following times and in the
following amounts, in each case except as otherwise expressly provided in this Agreement: 
 (i) concurrently with receipt by
any Loan Party of any Net Cash Proceeds from any Disposition, in an amount equal to such Net Cash Proceeds; 
 (ii)
concurrently with receipt by any Loan Party of any Net Cash Proceeds from any issuance of its equity securities (other than equity securities that are issued pursuant to Section 7.11(a)) or the issuance of Debt (other than Debt permitted
by Section 7.1, in an amount equal to such Net Cash Proceeds; 
 (iii) within 90 days after the end of each
Fiscal Year (commencing with Fiscal Year 2017), in an amount equal to the ECF Percentage of Excess Cash Flow for such Fiscal Year; and 

(iv) concurrently with the receipt by any Loan Party of any Extraordinary Receipts, in an amount equal to such Extraordinary
Receipts. 
 (b) If on any day the sum of (i) the Revolving Loans then outstanding plus (ii) the Stated Amount of the outstanding
Letters of Credit exceeds the Revolving Loan Commitment, whether pursuant to a reduction of the Revolving Loan Commitment pursuant to Section 2.8.1 or otherwise, Borrower and Co-Borrower shall
immediately prepay Revolving Loans in an amount sufficient to eliminate such excess. 
 (c) Notwithstanding Section 2.9.2(a),
on each Monday during the term of the Revolving Loan Commitment and for so long as there are Revolving Loans outstanding, Borrower and Co-Borrower shall prepay the Revolving Loans until Paid in Full in an
amount equal to the Excess Cash at the time of such payment. Payments pursuant to this Section 2.9.2(c) shall not result in a reduction in the Revolving Loan Commitment. 

  
 26 

 2.9.3 All Prepayments. 

(a) Any prepayment of a LIBOR Loan on a day other than the last day of an Interest Period therefor shall include interest on the principal
amount being repaid and shall be subject to Section 3. All prepayments of a Loan shall be applied first to that portion of such Loan comprised of Base Rate Loans and then to that portion of such Loan comprised of LIBOR Loans, in direct order of
Interest Period maturities. All prepayments of Term Loans shall be applied first to Term A Loans until Paid in Full and then to Term B Loans and, in each case, in the inverse order of maturity to the remaining installments thereof. 

(b) Borrower shall give written (including via email) notice or telephonic notice (followed immediately by written confirmation thereof) to
Lender not later than 11:00 a.m. New York City time at least one Business Day prior to each mandatory prepayment pursuant to clause (a) of Section 2.9.2. 

2.10 Repayment. 
 2.10.1
Revolving Loans. 
 The Revolving Loans then outstanding shall be paid, for the account of Lender and any Assignee according to its
respective Pro Rata Revolving Share, in full on the Termination Date. 
 2.10.2 Term A Loans. 

The Term A Loans shall be subject to annual amortization in the principal amount of $6,250,000, with each such annualized amount being due
and payable in equal quarterly installments of $1,562,500 on the last day of each Fiscal Quarter, commencing December 31, 2016 and continuing to the Term A Loan Maturity Date, on which date the then outstanding Term A Loans shall be Paid in
Full. 
 2.10.3 Term B Loans. 

The Term B Loans shall be Paid in Full on the Term B Loan Maturity Date. 

2.11 Payment. 
 2.11.1
Making Payments. 
 All payments of principal of or interest on the Notes, and of all fees, shall be made to Lender without setoff,
recoupment or counterclaim and in immediately available funds by wire transfer initiated by Borrower by not later than 11:00 a.m. New York City time on the date due. Any such wire of funds not received by Lender prior to 2:00 p.m. New York City time
shall be deemed to have been received by Lender on the following Business Day. 
 2.11.2 Application of Payments and Proceeds. 

(a) Except as set forth in Section 2.9.2 and Section 2.9.3, and subject to the provisions of Sections
2.11.2(b) and 2.11.2(c) below, each payment of principal shall be applied to such Loans as Borrower shall direct by notice to be received by Lender on or before the date of such payment or, in the absence of such notice, as Lender
shall determine in its discretion. 

  
 27 

 (b) If an Acceleration Event shall have occurred and be continuing, notwithstanding
anything herein or in any other Loan Document to the contrary, Lender shall apply all or any part of payments in respect of the Obligations and proceeds of Collateral, in each case as received by Lender, to the payment of the Obligations in the
following order: 
 (i) FIRST, to the payment of all fees, costs, expenses and indemnities due and owing to Lender under this
Agreement or any other Loan Document, and any other Obligations owing to Lender in respect of sums advanced by Lender to preserve or protect the Collateral or to preserve or protect its security interest in the Collateral (whether or not such
Obligations are then due and owing to Lender), until Paid in Full; 
 (ii) SECOND, to the payment of all other fees, costs,
expenses and indemnities due and owing to Lender, other than in respect of Term B Loans, until Paid in Full; 
 (iii) THIRD,
to the payment of all accrued and unpaid interest due and owing to Lender, other than in respect of Term B Loans, until Paid in Full; 

(iv) FOURTH, to the payment of all principal of the Loans, other than Term B Loans, due and owing until Paid in Full; 

(v) FIFTH, to the payment of all other Obligations owing to Lender, other than Obligations owing in respect of Term B Loans,
until Paid in Full; 
 (vi) SIXTH, to the payment of all fees, costs, expenses and indemnities due and owing to Lender in
respect of Term B Loans until Paid in Full; 
 (vii) SEVENTH, to the payment of all accrued and unpaid interest due and owing
to Lender in respect of Term B Loans until Paid in Full; 
 (viii) EIGHTH, to the payment of all principal of Term B Loans
due and owing until Paid in Full; and 
 (ix) NINTH, to the payment of all other Obligations owing to Lender in respect of
Term B Loans until Paid in Full. 
 (c) If an Event of Default shall have occurred and be continuing but an Acceleration Event shall not
exist, notwithstanding anything herein or in any other Loan Document to the contrary, Lender shall apply all or any part of payments in respect of the obligations and proceeds of Collateral, in each case as received by Lender, to the payment of the
Obligations in such order as Lender may elect. In the absence of a specific determination by Lender, payments in respect of the Obligations and proceeds of Collateral received by Lender shall be applied in the following order: 

  
 28 

 (i) FIRST, to the payment of all fees, costs, expenses and indemnities due
and owing to Lender under this Agreement or any other Loan Document, and any other Obligations owing to Lender in respect of sums advanced by Lender to preserve or protect the Collateral or to preserve or protect its security interest in the
Collateral (whether or not such Obligations are then due and owing to Lender), until Paid in Full; 
 (ii) SECOND, to the
payment of all other fees, costs, expenses and indemnities due and owing to Lender, other than in respect of Term B Loans, until Paid in Full; 

(iii) THIRD, to the payment of all accrued and unpaid interest due and owing to Lender, other than in respect of Term B Loans,
until Paid in Full; 
 (iv) FOURTH, to the payment of all principal of the Loans, other than Term B Loans, then due and owing
until Paid in Full; 
 (v) FIFTH, to the payment of all other Obligations owing to Lender, other than Obligations owing in
respect of Term B Loans, until Paid in Full; 
 (vi) SIXTH, to the payment of all fees, costs, expenses and indemnities due
and owing to Lender in respect of Term Loans B until Paid in Full; 
 (vii) SEVENTH, to the payment of all accrued and unpaid
interest due and owing to Lender in respect of Term B Loans until Paid in Full; 
 (viii) EIGHTH, to cash collateralize
Obligations consisting of Term B Loans not yet due and owing until Paid in Full; and 
 (ix) NINTH, to the payment of all
other Obligations owing to Lender in respect of Term B Loans until Paid in Full. 
 2.11.3 Payment Dates. 

If any payment of principal or interest with respect to any of the Loans, or of any fees, falls due on a day which is not a Business Day,
then such due date shall be extended to the immediately following Business Day (unless, in the case of a LIBOR Loan, such immediately following Business Day is the first Business Day of a calendar month, in which case such due date shall be the
immediately preceding Business Day) and, in the case of principal, additional interest shall accrue and be payable for the period of any such extension. 

  
 29 

 2.11.4 Set-off. 

Borrower and Co-Borrower agree that Lender and its Affiliates have all rights of set-off and bankers’ lien provided by applicable law, and in addition thereto, Borrower and Co-Borrower agree that at any time an Event of Default has occurred and is
continuing, Lender may apply to the payment of any Obligations hereunder, whether or not then due, any and all balances, credits, deposits, accounts or moneys of Borrower and Co-Borrower then or thereafter
with Lender. 
 Section 3. Yield Protection. 

3.1 Taxes. 
 (a) All
payments of principal and interest on the Loans and all other amounts payable hereunder shall be made free and clear of and without deduction for any present or future income, excise, stamp, documentary, property or franchise taxes and other taxes,
fees, duties, levies, withholdings or other charges of any nature whatsoever imposed by any taxing authority, excluding taxes imposed on or measured by Lender’s net income by the jurisdiction under which Lender is organized or conducts business
(all non-excluded items being called “Taxes”). If any withholding or deduction from any payment to be made by Borrower or Co-Borrower hereunder is
required in respect of any Taxes pursuant to any applicable law, rule or regulation, then Borrower and Co-Borrower will: (i) pay directly to the relevant authority the full amount required to be so
withheld or deducted; (ii) promptly forward to Lender an official receipt or other documentation satisfactory to Lender evidencing such payment to such authority; and (iii) pay to Lender such additional amount or amounts as is necessary to
ensure that the net amount actually received by Lender will equal the full amount Lender would have received had no such withholding or deduction been required. If any Taxes are directly asserted against Lender with respect to any payment received
by Lender hereunder, Lender may pay such Taxes and Borrower and Co-Borrower will promptly pay such additional amounts (including any penalty, interest or expense) as is necessary in order that the net amount
received by such Person after the payment of such Taxes (including any Taxes on such additional amount) shall equal the amount such Person would have received had such Taxes not been asserted so long as such amounts have accrued on or after the day
which is 180 days prior to the date on which Lender first made demand therefor; provided, that if the event giving rise to such costs or reductions has retroactive effect, such 180 day period shall be extended to include the period of retroactive
effect. 
 (b) If Borrower or Co-Borrower fail to pay any Taxes when due to the appropriate taxing
authority or fails to remit to Lender the required receipts or other required documentary evidence, Borrower and Co-Borrower shall indemnify Lender for any incremental Taxes, interest or penalties that may
become payable by Lender as a result of any such failure. 

  
 30 

 (c) Each Assignee that (i) is organized under the laws of a jurisdiction other than
the United States of America and (ii) becomes an assignee of an interest under this Agreement under Section 9.8.1 after the Closing Date (unless such Person was already a Lender hereunder immediately prior to such assignment) shall
execute and deliver to Borrower and Lender one or more (as Borrower or Lender may reasonably request) Forms W-8ECI, W-8BEN,
W-8IMY (as applicable) or other applicable form, certificate or document prescribed by the United States Internal Revenue Service certifying as to such Person’s entitlement to exemption from withholding
or deduction of Taxes. Borrower shall not be required to pay additional amounts to any Person pursuant to this Section 3.1 to the extent that the obligation to pay such additional amounts would not have arisen but for the failure of such
Person or Lender to comply with this paragraph. 
 3.2 Increased Cost. 

(a) If, after the Closing Date, the adoption of, or any change in, any applicable law, rule or regulation, or any change in the
interpretation or administration of any applicable law, rule or regulation by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof, or compliance by Lender with any request or
directive (whether or not having the force of law) of any such authority, central bank or comparable agency shall impose on Lender any other condition affecting its LIBOR Loans, its Note or its obligation to make LIBOR Loans; and the result of
anything described above is to increase the cost to (or to impose a cost on) Lender of making or maintaining any LIBOR Loan, or to reduce the amount of any sum received or receivable by Lender under this Agreement or under its Note with respect
thereto, then upon demand by Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail), Borrower and
Co-Borrower shall pay directly to Lender such additional amount as will compensate Lender for such increased cost or such reduction, so long as such amounts have accrued on or after the day which is 180 days
prior to the date on which Lender first made demand therefor; provided, that if the event giving rise to such costs or reductions has retroactive effect, such 180 day period shall be extended to include the period of retroactive effect. 

(b) If Lender shall reasonably determine that any change in, or the adoption or phase-in of, any
applicable law, rule or regulation regarding capital adequacy, or any change in the interpretation or administration thereof by any Governmental Authority, central bank or comparable agency charged with the interpretation or administration thereof,
or the compliance by Lender or any Person controlling Lender with any request or directive regarding capital adequacy (whether or not having the force of law) of any such authority, central bank or comparable agency, has or would have the effect of
reducing the rate of return on Lender’s or such controlling Person’s capital as a consequence of Lender’s obligations hereunder to a level below that which Lender or such controlling Person could have achieved but for such change,
adoption, phase-in or compliance (taking into consideration Lender’s or such controlling Person’s policies with respect to capital adequacy) by an amount deemed by Lender or such controlling Person
to be material, then from time to time, upon demand by Lender (which demand shall be accompanied by a statement setting forth the basis for such demand and a calculation of the amount thereof in reasonable detail), Borrower shall pay to Lender such

  
 31 

 
additional amount as will compensate Lender or such controlling Person for such reduction, so long as such amounts have accrued on or after the day which is 180 days prior to the date on which
Lender first made demand therefor; provided, that if the event giving rise to such costs or reductions has retroactive effect, such 180 day period shall be extended to include the period of retroactive effect. 

3.3 Inadequate or Unfair Basis. 

If Lender reasonably determines (which determination shall be binding and conclusive on Borrower and
Co-Borrower) that, by reason of circumstances affecting the interbank Eurodollar market, adequate and reasonable means do not exist for ascertaining the applicable LIBOR Rate, then Lender shall promptly notify
Borrower thereof and, so long as such circumstances shall continue, (a) Lender shall be under no obligation to make or convert any Base Rate Loans into LIBOR Loans and (b) on the last day of the current Interest Period for each LIBOR Loan,
such Loan shall, unless then repaid in full, automatically convert to a Base Rate Loan. 
 3.4 Change in Law. 

If any change in, or the adoption of any new, law or regulation, or any change in the interpretation of any applicable law or regulation by
any governmental or other regulatory body charged with the administration thereof, would make it (or in the good faith judgment of Lender cause a substantial question as to whether it is) unlawful for Lender to make, maintain or fund LIBOR Loans,
then Lender shall promptly notify each of the other parties hereto and, so long as such circumstances shall continue, (a) Lender shall have no obligation to make or convert any Base Rate Loan into a LIBOR Loan (but shall make Base Rate Loans in
each case in an amount equal to the amount of LIBOR Loans which would be made or converted into by Lender at such time in the absence of such circumstances) and (b) on the last day of the current Interest Period for each LIBOR Loan of Lender
(or, in any event, on such earlier date as may be required by the relevant law, regulation or interpretation), such LIBOR Loan shall, unless then repaid in full, automatically convert to a Base Rate Loan. Each Base Rate Loan made by Lender which,
but for the circumstances described in the foregoing sentence, would be a LIBOR Loan shall remain outstanding for the period corresponding to the Interest Period originally applicable to such LIBOR Loan absent such circumstances. 

3.5 Funding Losses. 
 Borrower and Co-Borrower hereby agree that upon demand by Lender (which demand shall be accompanied by a statement setting forth the basis for the amount being claimed), Borrower and
Co-Borrower will indemnify Lender against any net loss or expense which Lender may sustain or incur (including any net loss or expense incurred by reason of the liquidation or reemployment of deposits or other
funds acquired by Lender to fund or maintain any LIBOR Loan), as reasonably determined by Lender, as a result of (a) any payment, 

  
 32 

 
prepayment or conversion of any LIBOR Loan of Lender on a date other than the last day of an Interest Period for such Loan (including any conversion pursuant to Section 3.3 or
3.4) or (b) any failure of Borrower to borrow, convert or continue any Loan on a date specified therefor in a notice of borrowing, conversion or continuation pursuant to this Agreement. For the purposes of this Section 3.5,
all determinations shall be made as if Lender had actually funded and maintained each LIBOR Loan during each Interest Period for such Loan through the purchase of deposits having a maturity corresponding to such Interest Period and bearing an
interest rate equal to the LIBOR Rate for such Interest Period. 
 3.6 Conclusiveness of Statements; Survival. 

Determinations and statements of Lender pursuant to this Section 3 shall be conclusive absent demonstrable error. Lender may use
reasonable averaging and attribution methods in determining compensation under this Section 3 and the provisions of such Sections shall survive repayment of the Loans, cancellation of the Notes and termination of this Agreement. 

Section 4. Conditions Precedent. 

The obligation of Lender to make the Loans and to cause the issuance of Letters of Credit is subject to the following conditions precedent:

 4.1 Initial Credit Extension. 

The obligation of Lender to make the initial Loans hereunder on or after the Closing Date is, in addition to the conditions precedent
specified in Section 4.2, subject to the following conditions precedent, each of which shall be satisfactory in all respects to Lender: 

4.1.1 EBITDA. 
 EBITDA,
as adjusted by adjustments satisfactory to Lender, for the 12 month period ending on the last day of the calendar month immediately preceding the Closing Date shall not be less than $25,000,000. 

4.1.2 Initial Loans; Availability. 

Not more than $7,690,000 in Revolving Loans shall be advanced or issued (as applicable) on the Closing Date. 

4.1.3 Debt to be Repaid. 

The Debt to be Repaid has been (or concurrently with the initial borrowing will be) Paid in Full. 

  
 33 

 4.1.4 Fees. 

Borrower and Co-Borrower shall have paid all fees, costs and expenses due and payable under this
Agreement and the other Loan Documents on the Closing Date. 
 4.1.5 Delivery of Loan Documents. 

Borrower and Co-Borrower shall have delivered the following documents in form and substance
satisfactory to Lender, each, as applicable, duly executed by each Loan Party a party thereto and dated the Closing Date or an earlier date satisfactory to Lender: 

(a) Agreement. This Agreement. 

(b) Notes. The Notes. 

(c) Collateral Documents. The Guarantee and Collateral Agreement, all other Collateral Documents, and all instruments, documents,
certificates and agreements executed or delivered pursuant thereto (including intellectual property assignments and pledged Collateral, with undated irrevocable transfer powers executed in blank). 

(d) Financing Statements. Properly completed Uniform Commercial Code financing statements and other filings and documents required by
law or the Loan Documents to provide Lender perfected Liens (subject only to Liens permitted pursuant to Section 7.2) in the Collateral. 

(e) Lien Searches. Copies of Uniform Commercial Code search reports listing all effective financing statements filed against any Loan
Party, with copies of such financing statements, which reports shall not evidence any filings with respect to Liens that are not permitted by Section 7.2. 

(f) Payoff; Release. Payoff letters and other documents reasonably satisfactory to Lender evidencing repayment in full of all Debt to
be Repaid, termination of all agreements relating thereto and the release of all Liens granted in connection therewith. 
 (g) Letter of
Direction. A letter of direction containing funds flow information, with respect to the proceeds of the Loans on the Closing Date. 

(h) Authorization Documents. For each Loan Party, such Person’s (i) charter (or similar formation document), certified by
the appropriate Governmental Authority, (ii) good standing certificates in its state of organization (or formation) and in each other state requested by Lender, (iii) bylaws (or similar governing document), (iv) resolutions of its board of
directors (or similar governing body) approving and authorizing such Person’s execution, delivery and performance of the Loan Documents to which it is party and the transactions contemplated thereby, and (v) signature and incumbency
certificates of its officers executing any of the Loan Documents, all certified by its secretary or an assistant secretary (or similar officer) as being in full force and effect without modification. 

  
 34 

 (i) Insurance. Certificates or other evidence of insurance in effect as required by
Section 6.3(b), with endorsements naming Lender as loss payee and/or additional insured, as applicable, unless prohibited by law or the relevant insurance policy. 

(j) Financials. The financial statements, projections and pro forma balance sheet described in Section 5.4. 

(k) Consents. Evidence that all necessary consents, permits and approvals (governmental or otherwise) required for the execution,
delivery and performance by each Loan Party of the Loan Documents and the Related Transactions have been duly obtained and are in full force and effect. 

(l) Other Documents. Such other certificates, documents and agreements as Lender may reasonably request. 

4.2 All Credit Extensions. 

The obligation of Lender to make each Loan is subject to the additional conditions precedent that (unless such conditions are waived by
Lender), both before and after giving effect to any borrowing, (a) the representations and warranties of Borrower and each other Loan Party set forth in this Agreement and the other Loan Documents shall be true and correct in all material
respects with the same effect as if then made (except to the extent stated to relate to a specific earlier date, in which case such representations and warranties shall be true and correct as of such earlier date) and (b) no Event of Default or
Default shall have then occurred and be continuing. Each request by Borrower for the making of a Loan shall be deemed to constitute a representation and warranty by Borrower that the conditions precedent set forth in Section 4.2 will be
satisfied at the time of the making of such Loan. 
 Section 5. Representations and Warranties. 

To induce Lender to enter into this Agreement and to induce Lender to make Loans hereunder, Borrower and
Co-Borrower each represents and warrants to Lender that, both before and after giving effect to the Related Transactions: 

5.1 Organization. 

Borrower is a corporation validly existing and in good standing under the laws of the State of California;
Co-Borrower is a corporation validly existing and in good standing under the laws of the State of Delaware; each Subsidiary is validly existing and in good standing under the laws of the jurisdiction of its
organization; and Borrower, Co-Borrower and each Subsidiary is duly qualified to do business in each jurisdiction where, because of the nature of its activities or properties, such qualification is required,
except for such jurisdictions where the failure to so qualify could not reasonably be expected to have a Material Adverse Effect. 

  
 35 

 5.2 Authorization; No Conflict. 

Borrower, Co-Borrower and each Subsidiary is duly authorized to execute and deliver each Loan
Document and each agreement memorializing the Related Transactions to which it is a party; Borrower and Co-Borrower are duly authorized to borrow monies hereunder; and Borrower,
Co-Borrower and each Subsidiary is duly authorized to perform its Obligations under each Loan Document to which it is a party. The execution, delivery and performance by Borrower and Co-Borrower of this Agreement and by Borrower, Co-Borrower and each Subsidiary of each Loan Document to which it is a party, and the borrowings by Borrower and Co-Borrower hereunder, do not and will not (a) require any consent or approval of any Governmental Authority (other than any consent or approval which has been obtained and is in full force and effect), (b)
conflict with (i) any provision of applicable law, (ii) the charter, bylaws certificate of formation, articles of organization, limited liability company agreement or other organizational documents of any Loan Party or (iii) any
agreement, indenture, instrument or other document, or any judgment, order or decree, which is binding upon any Loan Party or any of their respective properties, or (c) require, or result in, the creation or imposition of any Lien on any asset
of any Loan Party (other than Liens in favor of Lender created pursuant to the Collateral Documents). 
 5.3 Validity; Binding
Nature. 
 Each of this Agreement and each other Loan Document which Borrower, Co-Borrower or
any Subsidiary is a party is the legal, valid and binding obligation of such Person, enforceable against such Person in accordance with its terms, subject to bankruptcy, insolvency and similar laws affecting the enforceability of creditors’
rights generally and to general principles of equity. 
 5.4 Financial Condition. 

(a) The audited consolidated financial statements of the Loan Parties, excluding Parent, as of the Fiscal Year of Borrower ending
December 31, 2015 (the “Balance Sheet Date”), and the unaudited consolidated financial statements of the Loan Parties, excluding Parent, as of June 30, 2016, copies of each of which have been delivered pursuant hereto,
were prepared in accordance with GAAP (subject, in the case of such unaudited statements, to the absence of footnotes and to normal year-end adjustments) and present fairly the consolidated financial condition
of such Persons as at such dates and the results of their operations for the periods then ended. 

  
 36 

 (b) The consolidated financial projections (including an operating budget and a cash flow
budget) of the Loan Parties for the five (5) year period commencing January 1, 2017 delivered to Lender on or prior to the Closing Date (i) were prepared by Borrower in good faith and (ii) were prepared in accordance with
assumptions for which Borrower has a reasonable basis, and the accompanying consolidated pro forma balance sheet of the Loan Parties as at the Closing Date, adjusted to give effect to the consummation of the Related Transactions and the financings
contemplated hereby as if such transactions had occurred on such date, is consistent in all material respects with such projections. 
 5.5
No Material Adverse Change. 
 Since the Balance Sheet Date, no event has occurred that could reasonably be expected to result in a
Material Adverse Effect. 
 5.6 Litigation. 

No litigation (including derivative actions), arbitration proceeding or governmental investigation or proceeding is pending or, to
Borrower’s or Co-Borrower’s knowledge, threatened against any Loan Party, that, if adversely determined, could reasonably be expected to have, either individually or in the aggregate, a Material
Adverse Effect. As of the Closing Date, other than any liability incident to such litigation or proceedings, none of Borrower, Co-Borrower or any Subsidiary has any material Contingent Obligations not listed
on Schedule 7.1. 
 5.7 Ownership of Properties; Liens. 

Borrower, Co-Borrower and each Subsidiary owns good and, in the case of real property, marketable
title to all of its properties and assets, real and personal, tangible and intangible, of any nature whatsoever (including patents, trademarks, trade names, service marks and copyrights), free and clear of all Liens, charges and claims (including
infringement claims with respect to patents, trademarks, service marks, copyrights and the like), except as permitted by Section 7.2. 

5.8 Capitalization. 

All issued and outstanding equity securities of each Loan Party are duly authorized and validly issued, fully paid, non-assessable, and free and clear of all Liens other than those in favor of Lender, and such securities were issued in compliance with all applicable state and federal laws concerning the issuance of securities.
Schedule 5.8 sets forth the authorized equity securities of each Loan Party as of the Closing Date. As of the Closing Date, all of the issued and outstanding equity of Borrower is owned by Parent, except as set forth on Schedule 5.8,
all of the issued and outstanding equity of each Subsidiary is, directly or indirectly, owned by Borrower. As of the Closing Date, except as set forth on Schedule 5.8, there are no pre-emptive or other
outstanding rights, options, warrants, conversion rights or other similar agreements or understandings for the purchase or acquisition of any equity interests of Borrower or any Subsidiary. As of the Closing Date, Parent has no directly owned
Subsidiaries other than Borrower and Borrower has no directly or indirectly owned Subsidiaries except as set forth on Schedule 5.8, each of which Subsidiaries is Wholly-Owned directly or indirectly by Borrower. 

  
 37 

 5.9 Pension Plans. 

During the twenty-four consecutive month period prior to the Closing Date or the making of any Loan, (i) no steps have been taken to
terminate any Pension Plan and (ii) no contribution failure has occurred with respect to any Pension Plan sufficient to give rise to a Lien under Section 302(f) of ERISA. No condition exists or event or transaction has occurred with
respect to any Pension Plan which could result in the incurrence by Borrower, Co-Borrower or any Subsidiary of any material liability, fine or penalty. All contributions (if any) have been made to any
Multiemployer Pension Plan that are required to be made by Borrower, Co-Borrower or any Subsidiary or any other member of the Controlled Group under the terms of the plan or of any collective bargaining
agreement or by applicable law; neither Borrower, Co-Borrower nor any Subsidiary nor any member of the Controlled Group has withdrawn or partially withdrawn from any Multiemployer Pension Plan, incurred any
withdrawal liability with respect to any such plan or received notice of any claim or demand for withdrawal liability or partial withdrawal liability from any such plan, and no condition has occurred which, if continued, could result in a withdrawal
or partial withdrawal from any such plan, and neither Borrower, Co-Borrower nor any Subsidiary nor any member of the Controlled Group has received any notice that any Multiemployer Pension Plan is in
reorganization, that increased contributions may be required to avoid a reduction in plan benefits or the imposition of any excise tax, that any such plan is or has been funded at a rate less than that required under Section 412 of the IRC,
that any such plan is or may be terminated, or that any such plan is or may become insolvent. 
 5.10 Investment Company Act. 

None of Borrower, Co-Borrower or any Subsidiary is an “investment company” within the
meaning of the Investment Company Act of 1940. 
 5.11 Public Utility Holding Company Act. 

None of Borrower, Co-Borrower or any Subsidiary is a “holding company”, or a
“subsidiary company” of a “holding company”, or an “affiliate” of a “holding company” or of a “subsidiary company” of a “holding company”, within the meaning of the Public Utility Holding
Company Act of 1935. 
 5.12 Margin Stock. 

None of Borrower, Co-Borrower or any Subsidiary is engaged principally, or as one of its important
activities, in the business of extending credit for the purpose of purchasing or carrying Margin Stock. No portion of the Obligations is secured directly or indirectly by Margin Stock. 

  
 38 

 5.13 Taxes. 

Borrower, Co-Borrower and each Subsidiary has filed all tax returns and reports required by law to
have been filed by it and has paid all taxes and governmental charges thereby shown to be owing, except any such taxes or charges which are being diligently contested in good faith by appropriate proceedings which stay the imposition of any penalty,
fine or Lien resulting from the non-payment thereof and for which adequate reserves in accordance with GAAP shall have been set aside on its books. 

5.14 Solvency. 
 On the
Closing Date, and immediately prior to and after giving effect to each borrowing hereunder and the use of the proceeds thereof, with respect to Borrower, Co-Borrower and each Subsidiary, individually,
(a) the fair value of its assets is greater than the amount of its liabilities (including disputed, contingent and unliquidated liabilities) as such value is established and liabilities evaluated, (b) the present fair saleable value of its
assets is not less than the amount that will be required to pay the probable liability on its debts as they become absolute and matured, (c) it is able to realize upon its assets and pay its debts and other liabilities (including disputed,
contingent and unliquidated liabilities) as they mature in the normal course of business, (d) it does not intend to, and does not believe that it will, incur debts or liabilities beyond its ability to pay as such debts and liabilities mature
and (e) it is not engaged in business or a transaction, and is not about to engage in business or a transaction, for which its property would constitute unreasonably small capital. 

5.15 Environmental Matters. 

Except as set forth in Schedule 5.15: 

(a) The on-going operations of Borrower, Co-Borrower and each
Subsidiary comply in all respects with all Environmental Laws, except such non-compliance which could not (if enforced in accordance therewith) reasonably be expected to result in a Material Adverse Effect.

 (b) Borrower, Co-Borrower and each of the Subsidiaries have obtained, and maintained in good
standing, all licenses, permits, authorizations and registrations required under any Environmental Law and necessary for their respective ordinary course operations, and Borrower, Co-Borrower and each of the
Subsidiaries are in compliance with all material terms and conditions thereof, except where the failure to do so could not reasonably be expected to result in material liability to Borrower, Co-Borrower and
each of the Subsidiaries and could not reasonably be expected to result in a Material Adverse Effect. 

  
 39 

 (c) None of Borrower, Co-Borrower or any
Subsidiary, or any of their respective properties or operations, is subject to any outstanding written order from or agreement with any Federal, state or local Governmental Authority, nor subject to any judicial or docketed administrative
proceeding, respecting any Environmental Law, Environmental Claim or Hazardous Material. 
 (d) There are no Hazardous Materials or other
conditions or circumstances existing with respect to any property, or arising from operations prior to the Closing Date, of Borrower, Co-Borrower or any Subsidiary that could reasonably be expected to result
in a Material Adverse Effect. None of Borrower, Co-Borrower or any Subsidiary has any underground storage tanks that are not properly registered or permitted under applicable Environmental Laws or that are
leaking or disposing of Hazardous Materials. 
 5.16 Insurance. 

Borrower, Co-Borrower and each Subsidiary and their respective properties are insured with
financially sound and reputable insurance companies which are not Affiliates of Borrower, 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 any of them operates. A true and complete listing of such insurance as of the Closing Date, including issuers, coverages and deductibles, is set forth on Schedule 5.16. 

5.17 Information. 

Borrower and Co-Borrower have disclosed to Lender all agreements, instruments and corporate or other
restrictions to which Borrower, Co-Borrower or any Subsidiary is subject, and all other matters known to Borrower or Co-Borrower, that, individually or in the aggregate,
could reasonably be expected to result in a Material Adverse Effect. All information heretofore or contemporaneously herewith furnished in writing by Borrower, Co-Borrower or any Subsidiary to Lender for
purposes of or in connection with this Agreement and the transactions contemplated hereby is, and all written information hereafter furnished by or on behalf of Borrower, Co-Borrower or any Subsidiary to
Lender pursuant hereto or in connection herewith will be, true and accurate in every material respect on the date as of which such information is dated or certified, and none of such information is or will be incomplete by omitting to state any
material fact necessary to make such information not misleading in light of the circumstances under which made (it being recognized by Lender that any projections and forecasts provided by Borrower are based on good faith estimates and assumptions
believed by Borrower to be reasonable as of the date of the applicable projections or assumptions and that actual results during the period or periods covered by any such projections and forecasts may differ from projected or forecasted results).

 5.18 Intellectual Property. 

  
 40 

 Borrower, Co-Borrower and each Subsidiary owns and
possesses or has a license or other right to use all patents, patent rights, trademarks, trademark rights, trade names, trade name rights, service marks, service mark rights and copyrights as are necessary for the conduct of business, without any
infringement upon rights of others which could reasonably be expected to have a Material Adverse Effect. Set forth on Schedule 5.18 is a complete and accurate list as of the Closing Date of all such material licenses, permits, patents, patent
applications, trademarks, trademark applications, service marks, trade names, copyrights, copyright applications, franchises, authorizations, non-governmental licenses and permits and other intellectual
property rights of Borrower, Co-Borrower and each Subsidiary. No slogan or other advertising device, product, process, method, substance, part or other material now employed, or now contemplated to be
employed, by Borrower, Co-Borrower or any Subsidiary infringes upon or conflicts with any rights owned by any other Person, and no claim or litigation regarding any of the foregoing is pending or threatened,
except for such infringements and conflicts which could not reasonably be expected to result in, individually or in the aggregate, a Material Adverse Effect. To the knowledge of Borrower, no patent, invention, device, application, principle or any
statute, law, rule, regulation, standard or code is pending or proposed, which, individually or in the aggregate, could reasonably be expected to result in a Material Adverse Effect. 

5.19 Restrictive Provisions. 

None of Borrower, Co-Borrower or any Subsidiary is a party to any agreement or contract or subject to
any restriction contained in its operative documents which could reasonably be expected to have a Material Adverse Effect. 
 5.20 Labor
Matters. 
 Except as set forth on Schedule 5.20, none of Borrower, Co-Borrower or any
Subsidiary is subject to any labor or collective bargaining agreement. There are no existing or threatened strikes, lockouts or other labor disputes involving Borrower or any Subsidiary that singly or in the aggregate could reasonably be expected to
have a Material Adverse Effect. Hours worked by and payment made to employees of Borrower, Co-Borrower or any Subsidiary are not in any material respect in violation of the Fair Labor Standards Act or any
other applicable law, rule or regulation dealing with such matters. 
 5.21 No Default. 

No Event of Default or Default exists or would result from the incurrence by Borrower, Co-Borrower or
any Subsidiary of any Debt hereunder or under any other Loan Document. 
 5.22 Compliance with Law. 

  
 41 

 None of Borrower, Co-Borrower or any Subsidiary is
in violation of its organizational documents, any law, rule, regulation, judgment or order of any Governmental Authority applicable to it or any of its property or assets, or any term of any material agreement or instrument binding on or otherwise
affecting it or any of its properties, which violation could reasonably be expected to have a Material Adverse Effect. 
 5.23 Permits,
etc. 
 Borrower, Co-Borrower and each Subsidiary has, and is in compliance with, all material
permits, licenses, authorizations, approvals, entitlements and accreditations required for such Person lawfully to own, lease, manage or operate, or to acquire, each business currently owned, leased, managed or operated, or to be acquired, by such
Person. No condition exists or event has occurred which, in itself or with the giving of notice or lapse of time or both, would result in the suspension, revocation, impairment, forfeiture or non-renewal of
any such material permit, license, authorization, approval, entitlement or accreditation, and there is no claim that any thereof is not in full force and effect. 

5.24 Customers and Suppliers. 

There exists no actual or, to Borrower’s or Co-Borrower’s knowledge, threatened
termination, cancellation or limitation of, or modification to or change in, the business relationship between (i) Borrower, Co-Borrower or any Subsidiary, on the one hand, and any customer or any group
thereof, on the other hand, whose agreements with Borrower, Co-Borrower or any Subsidiary are individually or in the aggregate material to the business or operations of such Borrower, Co-Borrower and Subsidiaries, or (ii) Borrower, Co-Borrower or any Subsidiary, on the one hand, and any material supplier thereof, on the other hand. 

Section 6. Affirmative Covenants. 

Until the expiration or termination of the Commitments and thereafter until all Obligations (other than contingent indemnification
obligations to the extent no claim giving rise thereto has been asserted) are Paid in Full, Borrower and Co-Borrower agree that, unless at any time Lender shall otherwise expressly consent in writing, it will:

 6.1 Information. 

Furnish to Lender: 
 6.1.1
Annual Report. 
 As soon as available and in any event within ninety (90) days after the end of each Fiscal Year of Borrower
beginning with the first full fiscal year after the Closing Date, consolidated balance sheets of the Loan Parties as of the end of such Fiscal Year and the related consolidated statements of income, retained earnings and cash flows for such Fiscal
Year, setting 

  
 42 

 forth in each case, in comparative form, the figures for the previous Fiscal Year, all such financial
statements to be prepared in accordance with GAAP consistently applied and audited by and accompanied by the unqualified opinion of an independent certified public accountants selected by Borrower and reasonably acceptable to Lender (which opinion
shall be without (a) a “going concern” or like qualification or exception, (b) any qualification or exception as to the scope of such audit, or (c) any qualification which relates to the treatment or classification of any
item and which, as a condition to the removal of such qualification, would require an adjustment to such item, the effect of which would be to cause any noncompliance with the provisions of Section 7.14) together with (A) a
certificate from such accountants to the effect that, in making the examination necessary for the signing of such annual audit report, such accountants have not become aware of any Default or Event of Default that has occurred and is continuing, or,
if such accountants have become aware of any such event, describing it and the steps, if any, being taken to cure it and (B) the computations of such accountants evidencing Borrower’s compliance with the financial covenants contained in
Section 7.14 of this Agreement. 
 6.1.2 Interim Reports. 

As soon as available and in any event within twenty (20) days after the end of each month of each Fiscal Year of Borrower, the
consolidated balance sheet of the Loan Parties as of the end of such fiscal month and the related consolidated statements of income, retained earnings and cash flows for the portion of Borrower’s Fiscal Year ended at the end of such fiscal
month (and the consolidating statements of income, retained earnings and cash flows of the Loan Parties for such fiscal month and for the portion of Borrower’s Fiscal Year ended at the end of such fiscal month), setting forth in each case in
comparative form, (A) the figures for the corresponding fiscal month and the corresponding portion of Borrower’s previous Fiscal Year and (b) Borrower’s budgeted projections for such fiscal month and for the portion of
Borrower’s Fiscal Year ended at the end of such fiscal month, all in reasonable detail and satisfactory in form to Lender and certified, except as to projections (subject to normal year-end adjustments
and footnote disclosures) as to fairness of presentation, GAAP and consistency by the President or the chief financial officer or controller of Borrower. 

6.1.3 Compliance Certificate. 

Simultaneously with the delivery of each set of financial statements referred to in Section 6.1.1 above and simultaneously with
the delivery of each set of financial statements referred to in Section 6.1.2 above with respect to the last fiscal month of a Fiscal Quarter of Borrower, a certificate of the President or the chief financial officer or controller of
Borrower in the form attached hereto as Exhibit B and incorporated herein by reference, accompanied by supporting financial work sheets where appropriate, (A) evidencing compliance with the financial covenants contained in
Section 7.14 of this Agreement, (B) stating whether there exists on the date of such certificate any Default or Event of Default and, if any Default or Event of Default then exists, setting forth the details thereof and the action
which Borrower is taking or proposes to take with respect thereto and (C) certifying that all of the representations and warranties of each Loan Party contained in this Agreement and/or in any of the other Loan Documents are true and correct in
all material respects on and as of the date of such certificate as if made on and as of the date of such certificate. 

  
 43 

 6.1.4 Notice of Default; Litigation; ERISA Matters. 

Promptly upon becoming aware of any of the following, written notice describing the same and the steps being taken by Borrower or the
applicable Loan Party affected thereby with respect thereto: 
 (a) the occurrence of an Event of Default or a Default; 

(b) any litigation, arbitration or governmental investigation or proceeding not previously disclosed by Borrower to Lender which has been
instituted or, to the knowledge of Borrower, is threatened against Borrower or any other Loan Party or to which any of the properties of any thereof is subject which could reasonably be expected to have a Material Adverse Effect; 

(c) the institution of any steps by any member of the Controlled Group or any other Person to terminate any Pension Plan, or the failure of
any member of the Controlled Group to make a required contribution to any Pension Plan (if such failure is sufficient to give rise to a Lien under Section 302(f) of ERISA) or to any Multiemployer Pension Plan, or the taking of any action with
respect to a Pension Plan which could result in the requirement that Borrower, Co-Borrower or any Subsidiary furnish a bond or other security to the PBGC or such Pension Plan, or the occurrence of any event with respect to any Pension Plan or
Multiemployer Pension Plan which could result in the incurrence by any member of the Controlled Group of any material liability, fine or penalty (including any claim or demand for withdrawal liability or partial withdrawal from any Multiemployer
Pension Plan), or any material increase in the contingent liability of Borrower, Co-Borrower or any Subsidiary with respect to any post-retirement welfare plan benefit, or any notice that any Multiemployer
Pension Plan is in reorganization, that increased contributions may be required to avoid a reduction in plan benefits or the imposition of an excise tax, that any such plan is or has been funded at a rate less than that required under
Section 412 of the IRC, that any such plan is or may be terminated, or that any such plan is or may become insolvent; 
 (d) any
cancellation or material change in any insurance maintained by Borrower, Co-Borrower or any Subsidiary; or 

(e) any other event (including (i) any violation of any Environmental Law or the assertion of any Environmental Claim or (ii) the
enactment or effectiveness of any law, rule or regulation) which could reasonably be expected to have a Material Adverse Effect. 

  
 44 

 6.1.5 Management Report. 

Promptly upon receipt thereof, any reports (including, without limitation, any management letters) submitted by Borrower, Co-Borrower or any Subsidiary (other than reports previously delivered pursuant to Sections 6.1.1 and 6.1.2 above) by independent accountants in connection with any annual, interim or special audit
made by them of the books of Borrower, Co-Borrower or any Subsidiary. 
 6.1.6 Budgets. 

As soon as available and in any event within thirty (30) days after to the beginning of each Fiscal Year of Borrower, consolidated
balance sheet, budgeted income statement and cash flow projections for Borrower, Co-Borrower and each Subsidiary for such Fiscal Year on a
month-by-month basis, all in form and detail reasonably acceptable to Lender. 

6.1.7 Non-Senior Debt Notices. 

Promptly following receipt, copies of any notices (including notices of default or acceleration) received from any holder or trustee of,
under or with respect to any Non-Senior Debt. 
 6.1.8 Other Information. 

Promptly from time to time, such other information concerning Borrower, Co-Borrower or any Subsidiary
as Lender may reasonably request. 
 6.2 Books; Records; Inspections. 

Keep, and cause each other Loan Party to keep, its books and records in accordance with sound business practices sufficient to allow the
preparation of financial statements in accordance with GAAP; permit, and cause each other Loan Party to permit, Lender or any representative thereof to inspect the properties and operations of Borrower or such other Loan Party; and permit, and cause
each other Loan Party to permit, at any reasonable time and with reasonable notice (or at any time without notice if an Event of Default exists), Lender or any representative thereof to visit any or all of its offices, to discuss its financial
matters with its officers and its independent auditors (and Borrower hereby authorizes such independent auditors to discuss such financial matters with Lender or any representative thereof), and to examine (and, at the expense of Borrower or the
applicable Loan Party, photocopy extracts from) any of its books or other records; and permit, and cause each other Loan Party to permit, Lender and its representatives to inspect the Collateral and other tangible assets of Borrower or such Loan
Party, to perform appraisals of the assets of Borrower or such Loan Party, Phase I Environmental Site Assessments (and if requested by Lender, Phase II Environmental Site Assessments) and to inspect, audit, check and make copies of and extracts from
the books, records, computer data, computer programs, journals, orders, receipts, correspondence and other data relating to any Collateral. All such inspections or audits by Lender shall be at Borrower’s expense; provided, however, that if an
Event of Default or Default has not occurred and is not then continuing, Borrower shall not be required to reimburse Lender for more than one such audit(s) during any Fiscal Year. 

  
 45 

 6.3 Maintenance of Property; Insurance. 

(a) Keep, and cause each Subsidiary to keep, all property useful and necessary in the business of Borrower,
Co-Borrower and each Subsidiary in good working order and condition, ordinary wear and tear excepted, and comply, and cause each of the Subsidiaries to comply, at all times with the material provisions of all
leases to which it is a party as lessee or under which it occupies property. 
 (b) Maintain, and cause each Subsidiary to maintain, with
responsible insurance companies, such insurance coverage as shall be required by all laws, governmental regulations and court decrees and orders applicable to it and such other insurance, to such extent and against such hazards and liabilities, as
is customarily maintained by companies similarly situated; provided that in any event, such insurance shall insure against all risks and liabilities of the type insured against as of the Closing Date and shall have insured amounts no less than, and
deductibles no higher than, those amounts provided for as of the Closing Date. Upon request of Lender, Borrower shall furnish to Lender a certificate setting forth in reasonable detail the nature and extent of all insurance maintained by Borrower, Co-Borrower and each Subsidiary. Borrower and Co-Borrower shall cause each issuer of an insurance policy to provide Lender with an endorsement (i) showing Lender as a
loss payee with respect to each policy of property or casualty insurance and naming Lender as an additional insured with respect to each policy of liability insurance, (ii) providing that 30 days’ notice will be given to Lender prior to
any cancellation of, or reduction or change in coverage provided by or other material modification to such policy and (iii) reasonably acceptable in all other respects to Lender. Borrower shall execute and deliver to Lender a collateral
assignment, in form and substance reasonably satisfactory to Lender, of each business interruption insurance policy maintained by Borrower, Co-Borrower and any Subsidiary. 

(c) Unless Borrower provides Lender with evidence of the continuing insurance coverage required by this Agreement, Lender may purchase
insurance at Borrower’s expense to protect Lender’s interests in the Collateral. This insurance may, but need not, protect Borrower’s, Co-Borrower’s and each Subsidiary’s interests.
The coverage that Lender purchases may, but need not, pay any claim that is made against Borrower, Co-Borrower or any Subsidiary in connection with the Collateral. Borrower may later cancel any insurance
purchased by Lender, but only after providing Lender with evidence that Borrower has obtained the insurance coverage required by this Agreement. If Lender purchases insurance for the Collateral, as set forth above, Borrower will be responsible for
the costs of that insurance, including interest and any other charges that may be imposed with the placement of the insurance, until the effective date of the cancellation or expiration of the insurance and the costs of the insurance may be added to
the principal amount of the Loans owing hereunder. 

  
 46 

 6.4 Compliance with Laws; Payment of Taxes and Liabilities. 

(a) Comply, and cause each Subsidiary to comply, in all material respects with all applicable laws, rules, regulations, decrees, orders,
judgments, licenses and permits, except where failure to comply could not reasonably be expected to have a Material Adverse Effect; (b) without limiting clause (a) above, ensure, and cause each Subsidiary to ensure, that no person who owns
a controlling interest in or otherwise controls a Loan Party is or shall be (i) listed on the Specially Designated Nationals and Blocked Person List maintained by the Office of Foreign Assets Control (“OFAC”), Department of the
Treasury, and/or any other similar lists maintained by OFAC pursuant to any authorizing statute, Executive Order or regulation or (ii) a person designated under Section 1(b), (c) or (d) or Executive Order No. 13224 (September 23,
2001), any related enabling legislation or any other similar Executive Orders; (c) without limiting clause (a) above, comply and cause each Subsidiary to comply, with all applicable Bank Secrecy Act and anti-money laundering laws and
regulations and (d) pay, and cause each Subsidiary to pay, prior to delinquency, all taxes and other governmental charges against it or any of its property, as well as claims of any kind which, if unpaid, could become a Lien on any of its
property; provided that the foregoing shall not require Borrower, Co-Borrower or any Subsidiary to pay any such tax or charge so long as it shall contest the validity thereof in good faith by appropriate
proceedings which stay the imposition of any penalty, fine or Lien resulting from the non-payment thereof and shall set aside on its books adequate reserves with respect thereto in accordance with GAAP. 

6.5 Maintenance of Existence. 

Maintain and preserve, and (subject to Section 7.5) cause each Subsidiary to maintain and preserve, (a) its existence and
good standing in the jurisdiction of its organization and (b) its qualification to do business and good standing in each jurisdiction where the nature of its business makes such qualification necessary, other than any such jurisdiction where
the failure to be qualified or in good standing could not reasonably be expected to have a Material Adverse Effect. 
 6.6 Employee
Benefit Plans. 
 Maintain, and cause each Subsidiary to maintain, each Pension Plan in substantial compliance with all applicable
requirements of law and regulations. 

  
 47 

 6.7 Environmental Matters. 

If any release or disposal of Hazardous Materials shall occur or shall have occurred on any real property or any other assets of Borrower, Co-Borrower or any Subsidiary, cause, or direct the applicable Subsidiary to cause, the prompt containment and removal of such Hazardous Materials and the remediation of such real property or other assets as is
necessary to comply with all Environmental Laws and to preserve the value of such real property or other assets. Without limiting the generality of the foregoing, Borrower shall, and shall cause Co-Borrower
and each Subsidiary to, comply with each valid Federal or state judicial or administrative order requiring the performance at any real property by Borrower, Co-Borrower or any Subsidiary of activities in
response to the release or threatened release of a Hazardous Material and shall keep any property either owned or operated by it or any of the Subsidiaries free of any Liens which secure Environmental Claims. 

6.8 Obtaining of Permits, Etc. 

Obtain, maintain and preserve, and cause each of the Subsidiaries to obtain, maintain and preserve, and take all necessary action to timely
renew, all permits, licenses, authorizations, approvals, entitlements and accreditations which are necessary in the proper conduct of its business. 

6.9 Collateral Access Agreements. 

Promptly notify Lender any time any Collateral with a net book value in excess of $500,000 is located and remains on any real property which
is not owned or leased by Borrower, Co-Borrower or any Subsidiary for more than seven (7) consecutive days and, if requested by Lender, use commercially reasonable efforts to promptly obtain written
subordinations or waivers, in form and substance reasonably satisfactory to Lender, of all present and future Liens to which the owner or lessor of such premises may be entitled to assert against the Collateral. 

6.10 Blocked Accounts. 

(a) From an after the date that is 30 days after the Closing Date and thereafter during the term of this Agreement, maintain blocked accounts
(the “Blocked Accounts”), and cause each of the Subsidiaries to so establish and maintain, with respect to all their principal deposit or other concentration accounts (including each such account identified as a deposit or
concentration account on Schedule 7.15) with the financial institutions at which those accounts are maintained (each a “Blocked Account Bank”), and enter into a control agreement relating to the Blocked Accounts with Lender
and the applicable Blocked Account Bank. 
 (b) After the occurrence and during the continuance of an Event of Default, Lender may send a
notice of assignment or notice of security interest to any and all of the Account Debtors and, thereafter, Lender shall have the sole right to collect the Accounts and Payment Intangibles (as those terms are defined in the UCC, as defined in the
Guarantee and Collateral Agreement) of the applicable Loan Parties or take possession of the Collateral and the books and records relating thereto. After the occurrence and during the continuation of an Event of Default, Borrower, Co-Borrower and the Subsidiaries shall not, without prior written consent 

  
 48 

 of Lender, grant any extension of time of payment of any Account or Payment Intangible, compromise or settle
any Account or Payment Intangible for less than the full amount thereof, release, in whole or in part, any Person or property liable for the payment thereof, or allow any credit or discount whatsoever thereon. 

(c) Borrower and Co-Borrower hereby appoints Lender as attorney-in-fact with power exercisable during the continuance of an Event of Default to (i) endorse its name upon any notes, acceptances, checks, drafts, money orders or other evidences of payment
relating to the Accounts or Payment Intangibles, (ii) sign its name on any invoice or bill of lading relating to any of its Accounts or Payment Intangibles, drafts against Account Debtors with respect to its Accounts or Payment Intangibles,
assignments and verifications of Accounts or Payment Intangibles and notices to Account Debtors with respect to its Accounts or Payment Intangibles, (iii) send verification of its Accounts, and (iv) notify the U.S. Postal Service
authorities to change the address for delivery of mail addressed to it to such address as Lender may designate and to do all other acts and things necessary to carry out this Agreement. All acts of said attorney or designee are hereby ratified and
approved, and said attorney or designee shall not be liable for any acts of omission or commission (other than acts of omission or commission constituting gross negligence or willful misconduct as determined by a final judgment of a court of
competent jurisdiction), or for any error of judgment or mistake of fact or law; this power being coupled with an interest is irrevocable until all of the Obligations are Paid in Full and all of the Commitments are terminated. 

(d) Nothing herein contained shall be construed to constitute Lender as agent of Borrower or
Co-Borrower for any purpose whatsoever, and Lender shall not be responsible or liable for any shortage, discrepancy, damage, loss or destruction of any part of the Collateral wherever the same may be located
and regardless of the cause thereof (other than from acts of omission or commission constituting gross negligence or willful misconduct as determined by a final judgment of a court of competent jurisdiction). Lender shall not, under any circumstance
or in any event whatsoever, have any liability for any error or omission or delay of any kind occurring in the settlement, collection or payment of any of the Accounts of the Loan Parties or any instrument received in payment thereof or for any
damage resulting therefrom (other than as a result of acts of omission or commission by Lender constituting gross negligence or willful misconduct as determined by a final judgment of a court of competent jurisdiction). Lender, by anything herein or
in any assignment or otherwise, does not assume any of the obligations under any contract or agreement assigned to Lender and shall not be responsible in any way for the performance by any Loan Party of any of the terms and conditions thereof. 

(e) If any Account or Payment Intangible of any Loan Party includes a charge for any tax payable to any Governmental Authority, Lender is
hereby authorized (but in no event obligated) in its discretion to pay the amount thereof to the proper taxing authority for Borrower’s account and to charge Borrower therefor. Borrower shall notify Lender if any Account or Payment Intangible
of any Loan Party includes any taxes due to any such Governmental Authority and, in the absence of such notice, Lender shall have the right to retain the full proceeds of such Account or Payment Intangible and shall not be liable for any taxes that
may be due by reason of such Account or Payment Intangible. 

  
 49 

 6.11 Further Assurances; Post-Closing Items. 

(a) Take, and cause each other Loan Party to take, such actions as are necessary or as Lender may reasonably request from time to time to
ensure that the Obligations of Borrower and each other Loan Party under the Loan Documents are secured by substantially all of the assets of Borrower and each Loan Party (as well as all equity interests of each Loan Party) and guaranteed by each
Loan Party (including, promptly upon the acquisition or creation thereof, any Subsidiary acquired or created after the Closing Date), in each case including (i) the execution and delivery of guaranties, security agreements, pledge agreements,
mortgages, deeds of trust, collateral access agreements, deposit account control agreements, landlord lease waivers, financing statements and other documents, and the filing or recording of any of the foregoing, and (ii) the delivery of
certificated securities and other Collateral with respect to which perfection is obtained by possession. 
 (b) Execute and/or deliver,
and/or cause to be executed and/or delivered, as applicable, to the Lender each of the items, if any, listed on Schedule 6.11(b) attached hereto (collectively, the “Post-Closing Items”) on or before the applicable due date
listed after each such Post-Closing Item, each of which Post-Closing Items must be in form, substance and content reasonably satisfactory to the Lender. 

Section 7. Negative Covenants. 

Until the expiration or termination of the Commitments and thereafter until all Obligations (other than contingent indemnification
obligations to the extent no claim giving rise thereto has been asserted) are Paid in Full, Borrower and Co-Borrower agrees that, unless at any time Lender shall otherwise expressly consent in writing, it
will: 
 7.1 Debt. 

Not, and not permit any Subsidiary to, create, incur, assume or suffer to exist any Debt, except: 

(a) the Obligations; 
 (b) Debt
the aggregate outstanding amount of which on any Business Day, when aggregated with all Debt of the Loan Parties (other than the Obligations) outstanding on such Business Day, shall not exceed the lesser of (i) $3,000,000 or (ii) 25% of EBITDA for
the twelve month period ending on the last day of the immediately preceding month period; 

  
 50 

 (c) Hedging Obligations, 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 liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person, or changes in the value of
securities issued by such Person, and not for purposes of speculation or taking a “market view;” and (ii) such Hedging Obligation does not contain any provision exonerating the non defaulting party from its obligation to make payments
on outstanding transactions to the defaulting party. 
 7.2 Liens. 

Not, and not permit any other Loan Party to, create or permit to exist any Lien on any of its real or personal properties, assets or rights
of whatsoever nature (whether now owned or hereafter acquired), except: 
 (a) Liens for taxes or other governmental charges not at the time
delinquent or thereafter payable without penalty or being diligently contested in good faith by appropriate proceedings and, in each case, for which it maintains adequate reserves in accordance with GAAP and the execution or other enforcement of
which is effectively stayed; 
 (b) Liens arising in the ordinary course of business (such as (i) Liens of carriers, warehousemen,
mechanics, landlords and materialmen and other similar Liens imposed by law and (ii) Liens incurred in connection with worker’s compensation, unemployment compensation and other types of social security (excluding Liens arising under
ERISA) or in connection with surety bonds, bids, performance bonds and similar obligations) for sums not overdue or being diligently contested in good faith by appropriate proceedings and not involving any deposits or advances or borrowed money or
the deferred purchase price of property or services and, in each case, for which it maintains adequate reserves in accordance with GAAP and the execution or other enforcement of which is effectively stayed; 

(c) Liens described on Schedule 7.2 as of the Closing Date; 

(d) subject to the limitation set forth in Section 7.1(b), (i) Liens arising in connection with Capital Leases (and attaching
only to the property being leased), (ii) Liens existing on property at the time of the acquisition thereof by Borrower, Co-Borrower or any Subsidiary (and not created in contemplation of such acquisition) and
(iii) Liens that constitute purchase money security interests on any property securing debt incurred for the purpose of financing all or any part of the cost of acquiring such property, provided that any such Lien attaches to such property
within 60 days of the acquisition thereof and attaches solely to the property so acquired; 
 (e) attachments, appeal bonds, judgments and
other similar Liens, for sums not exceeding $100,000 arising in connection with court proceedings; provided that the execution or other enforcement of such Liens is effectively stayed and the claims secured thereby are being actively contested in
good faith and by appropriate proceedings; 

  
 51 

 (f) easements, rights of way, restrictions, minor defects or irregularities in title and
other similar Liens that do not (i) secure obligations for the payment of money or (ii) interfere in any material respect with the ordinary conduct of the business of Borrower, Co-Borrower or any
Subsidiary; 
 (g) Liens arising under the Loan Documents; and 

(h) the replacement, extension or renewal of any Lien permitted by clause (c) above upon or in the same property subject thereto arising
out of the extension, renewal or replacement of the Debt secured thereby (without increase in the amount thereof). 
 7.3 Operating
Leases. 
 Not permit the aggregate amount of all rental payments under Operating Leases made (or scheduled to be made) by the Loan
Parties (on a consolidated basis) to exceed $10,000,000 in any Fiscal Year. 
 7.4 Restricted Payments. 

Not, and not permit any other Loan Party to, (a) make any dividend or other distribution to any of its equity holders, (b) purchase
or redeem any of its equity interests or any warrants, options or other rights in respect thereof, (c) except for Permitted Management Fees and Permitted Integration Services Fees, pay any management fees or similar fees to any of its equity
holders or any Affiliate thereof, (d) make any redemption, prepayment (whether mandatory or optional), defeasance, repurchase or any other payment in respect of any Non-Senior Debt or (e) set aside
funds for any of the foregoing. Notwithstanding the foregoing, (i) any Subsidiary may pay dividends or make other distributions to Borrower, Co-Borrower or to a domestic Wholly-Owned Subsidiary;
(ii) in each case to the extent due and payable on a non-accelerated basis and permitted under any applicable subordination provisions thereof, Borrower may make regularly scheduled payments of interest
in respect of Non-Senior Debt; (iii) any Loan Party may make repurchases of capital stock deemed to occur upon the exercise of options or warrants (i.e., a cashless exercise); (iv) Borrower may make
distributions to Parent of Cash Taxes; and (v) all Term B Loans shall be paid in accordance with the terms of this Agreement and any restriction imposed on Non-Senior Debt by this Section 7.4
shall not apply to the Term B Loans. 
 7.5 Mergers; Consolidations; Asset Sales. 

(a) Not, and not permit any other Loan Party to, be a party to any merger or consolidation, except for any such merger or consolidation of
(i) any Subsidiary into Borrower or any domestic Wholly-Owned Subsidiary; (ii) Borrower and Co-Borrower into one other, with Borrower surviving; or
(iii) Co-Borrower and Parent into one other. 

  
 52 

 (b) Not, and not permit any other Loan Party to, sell, transfer, dispose of, convey or
lease any of its assets or equity interests, or sell or assign with or without recourse any receivables, except for sales and dispositions of assets (excluding any equity interests of Borrower, Co-Borrower or
any Subsidiary) for at least fair market value so long as the net book value of all assets sold or otherwise disposed of in any Fiscal Year does not exceed 10% of the net book value of the consolidated assets of Borrower, Co-Borrower and the Subsidiaries as of the last day of the preceding Fiscal Year. 
 7.6 Modification
of Organizational Documents. 
 Not permit the charter, by-laws or other organizational
documents of Borrower or any other Loan Party to be amended or modified in any way which could reasonably be expected to materially adversely affect the interests of Lender. 

7.7 Use of Proceeds. 

Use the proceeds of the Loans solely to consummate the transactions contemplated by the Purchase Agreement, for working capital, for Capital
Expenditures and for other general business purposes of Borrower, Co-Borrower and the Subsidiaries; and not use or permit any proceeds of any Loan to be used, either directly or indirectly, for the purpose,
whether immediate, incidental or ultimate, of “purchasing or carrying” any Margin Stock. 
 7.8 Transactions with
Affiliates. 
 Not, and not permit any other Loan Party to, enter into, or cause, suffer or permit to exist any transaction,
arrangement or contract with any of its other Affiliates, which is on terms which are less favorable than are obtainable from any Person which is not one of its Affiliates. 

7.9 Inconsistent Agreements. 

Not, and not permit any other Loan Party to, enter into any agreement containing any provision which would (a) be violated or breached
by any borrowing by Borrower hereunder or by the performance by Borrower or any other Loan Party of any of its Obligations hereunder or under any other Loan Document, (b) prohibit Borrower or any other Loan Party from granting to Lender a Lien
on any of its assets or (c) create or permit to exist or become effective any encumbrance or restriction on the ability of any other Loan Party to (i) pay dividends or make other distributions to Borrower or any other Subsidiary, or pay
any Debt owed to Borrower or any other Subsidiary, (ii) make loans or advances to Borrower or any other Loan Party or (iii) transfer any of its assets or properties to Borrower or any other Loan Party other than (A) customary
restrictions and conditions contained in agreements relating to the sale of all or a substantial part of the capital stock or assets of any Subsidiary pending such sale, provided such restrictions and conditions apply only to the Subsidiary to be
sold and such sale is permitted 

  
 53 

 
hereunder (B) restrictions or conditions imposed by any agreement relating to purchase money Debt, Capital Leases and other secured Debt permitted by this Agreement if such restrictions or
conditions apply only to the property or assets securing such Debt and (C) customary provisions in leases and other contracts restricting the assignment thereof. 

7.10 Business Activities. 

Not, and not permit any other Loan Party to, engage in any line of business other than the businesses engaged in on the Closing Date and
businesses reasonably related thereto or acquire any properties or assets that are not reasonably related to the conduct of such business activities. Not, and not permit any other Loan Party to, issue any equity interest other than (a) any
issuance of shares of Borrower’s common equity securities pursuant to any employee or director option or stock purchase program, benefit plan or compensation program, or (b) any issuance by a Subsidiary to Borrower or another Subsidiary in
accordance with Section 7.4. 
 7.11 Investments. 

Not, and not permit any other Loan Party to, make or permit to exist any Investment in any other Person or create or establish any Subsidiary
(other than any Subsidiary formed in compliance with Section 7.16), except the following: 
 (a) contributions by Co-Borrower to Borrower or Borrower to the capital of any Wholly-Owned Subsidiary that is also a Domestic Subsidiary, or by any Subsidiary to the capital of any other Wholly-Owned Subsidiary that is also a Domestic
Subsidiary, so long as the recipient of any such capital contribution has guaranteed the Obligations and such guaranty is secured by a pledge of all of its equity interests and substantially all of its real and personal property, in each case in
accordance with Section 6.11(a); 
 (b) Investments constituting Debt permitted by permitted by Section 7.1; 

(c) Contingent Obligations constituting Debt permitted by Section 7.1 or Liens permitted by Section 7.2; 

(d) Cash Equivalent Investments; 

(e) bank deposits in the ordinary course of business; 

(f) Investments in securities of Account Debtors received pursuant to any plan of reorganization or similar arrangement upon the bankruptcy
or insolvency of such Account Debtors; 
 (g) Investments listed on Schedule 7.11 as of the Closing Date; and 

  
 54 

 (h) any purchase or other acquisition by Borrower or any Wholly-Owned Subsidiary that is
also a Domestic Subsidiary of the assets or equity interests of any Domestic Subsidiary. 
 7.12 Restriction of Amendments to Certain
Documents. 
 Not amend or otherwise modify, or waive any rights under (a) the Purchase Agreement, other than immaterial
amendments, modifications and waivers not adverse to the interests of Lender, (b) any provisions of any Non-Senior Debt (other than Term B Loans, which amendment, modification or waiver of rights shall be
governed by this Agreement) or (c) the Management Agreement. 
 7.13 Fiscal Year. 

Not change its Fiscal Year. 

7.14 Financial Covenants. 

7.14.1 Fixed Charge Coverage Ratio. 

Not permit the Fixed Charge Coverage Ratio for the periods set forth below to be less than the applicable ratio set forth opposite such
period: 
  

			
	 Period
	  	Fixed Charge
Coverage Ratio
	From the date of this Agreement through December 31, 2016	  	1.00:1.00
	From the date of this Agreement through March 31, 2017	  	1.00:1.00
	From the date of this Agreement through June 30, 2017	  	1.10:1.00
	For the Computation Period ending September 30, 2017	  	1.15:1.00
	For the Computation Period ending December 31, 2017	  	1.20:1.00
	For the Computation Period ending March 31, 2018	  	1.25:1.00
	For each Computation Period thereafter	  	1.30:1.00

  
 55 

 7.14.2 Senior Debt to EBITDA Ratio. 

Not permit the Senior Debt to EBITDA Ratio as of the last day of any Computation Period ending on or after December 31, 2016 to exceed
the applicable ratio set forth opposite such date: 
  

			
	 Date
	  	Senior Debt to
EBITDA Ratio
	For the Computation Period ending December 31, 2016	  	4.50:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2017	  	4.50:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2018	  	4.25:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2019	  	4.00:1.00
	For each Computation Period thereafter through	  	3.75:1.00

 7.14.3 Total Debt to EBITDA Ratio. 

Not permit the Total Debt to EBITDA Ratio as of the last day of any Computation Period ending on or after December 31, 2016 to exceed
the applicable ratio set forth opposite such date: 
  

			
	 Date
	  	Total Debt to
EBITDA Ratio
	For the Computation Period ending December 31, 2016	  	6.50:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2017	  	6.50:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2018	  	6.25:1.00
	For each Computation Period thereafter through and including the Computation Period ending December 31, 2019	  	6.00:1.00
	For each Computation Period thereafter	  	5.75:1.00

 7.14.4 Capital Expenditures. 

Not permit the aggregate amount of all Capital Expenditures (i) for the period from and including the Closing Date and continuing up to
and including the last day of the Fiscal Year that includes the Closing Date to exceed $4,500,000 for such period, or (ii) for any Fiscal Year thereafter to exceed $4,000,000 for such Fiscal Year. 

  
 56 

 If Borrower, Co-Borrower and the Subsidiaries do
not utilize the entire amount of Capital Expenditures permitted in any Fiscal Year, so long as no Default or Event of Default exists or would be caused thereby, Borrower may carry forward to the immediately succeeding Fiscal Year only, 50% of such
unutilized amount (with Capital Expenditures in such succeeding Fiscal Year applied last to such carried forward unutilized amount). 
 7.15
Bank Accounts. 
 Not, and not permit any other Loan Party, to maintain or establish any new bank accounts other than the bank
accounts set forth on Schedule 7.15 without prior written notice to Lender and unless Lender, Borrower or such other Loan Party and the bank at which the account is to be opened enter into a tri-party
agreement regarding such bank account pursuant to which such bank acknowledges the security interest and control of Lender in such bank account and agrees to limit its set-off rights on terms satisfactory to
Lender and otherwise acceptable to Lender. 
 7.16 Subsidiaries. 

Not, and not permit any other Loan Party, to establish or acquire any Subsidiary, except that Borrower may establish or acquire Subsidiaries,
provided that the Loan Parties shall have caused each such new Subsidiary to take all actions pursuant to Section 6.11(a) hereof with respect to such Subsidiary and such other actions as reasonably requested by Lender, including
(a) execution by such Subsidiary of a joinder to the Guarantee and Collateral Agreement or a mortgage or deed of trust, (b) a pledge to Lender of the capital securities of such Subsidiary, (c) such amendments to this Agreement and the
other Loan Documents related to the addition of such Subsidiary as may be requested by Lender, and (d) such opinions, certificates, resolutions, instruments, copies of filings and notices, and other materials relating to such Subsidiary as
Lender may reasonably request. 
 Section 8. Events of Default; Remedies. 

8.1 Events of Default. 

Each of the following shall constitute an Event of Default under this Agreement: 

8.1.1 Non-Payment of Credit. 

Default in the payment when due of the principal of any Loan; or default in the payment when due of any interest, fee or other amount payable
by any Loan Party hereunder or under any other Loan Document. 

  
 57 

 8.1.2 Default Under Other Debt. 

Any default shall occur and continue until the termination of any applicable cure period under the terms applicable to any other Debt of any
Loan Party in an aggregate amount (for all such Debt so affected and including un-drawn committed or available amounts and amounts owing to all creditors under any combined or syndicated credit arrangement)
exceeding $100,000 and such default shall (a) consist of the failure to pay such Debt when due, whether by acceleration or otherwise, or (b) accelerate the maturity of such Debt or permit the holder or holders thereof, or any trustee or
agent for such holder or holders, to cause such Debt to become due and payable (or require Borrower or any other Loan Party to purchase or redeem such Debt or post cash collateral in respect thereof) prior to its expressed maturity. 

8.1.3 Bankruptcy; Insolvency. 

Any Loan Party becomes insolvent or generally fails to pay, or admits in writing its inability or refusal to pay, debts as they become due;
or any Loan Party applies for, consents to, or acquiesces in the appointment of a trustee, receiver or other custodian for such Loan Party or any property thereof, or makes a general assignment for the benefit of creditors; or, in the absence of
such application, consent or acquiescence, a trustee, receiver or other custodian is appointed for any Loan Party or for a substantial part of the property of any thereof and is not discharged within 60 days; or any bankruptcy, reorganization, debt
arrangement, or other case or proceeding under any bankruptcy or insolvency law, or any dissolution or liquidation proceeding, is commenced in respect of any Loan Party, and if such case or proceeding is not commenced by such Loan Party, it is
consented to or acquiesced in by such Loan Party, or remains for 60 days un-dismissed; or any Loan Party takes any action to authorize, or in furtherance of, any of the foregoing. 

8.1.4 Non-Compliance with Loan Documents. 

(a) Failure by any Loan Party to comply with or to perform any covenant set forth in Sections 6.1.1, 6.1.2, 6.1.3,
6.1.4, 6.1.6, 6.1.7, 6.1.8, 6.2, 6.3(b), 6.3(c), 6.4(d), 6.5, 6.7, 6.9, 6.10, 6.11 and Section 7 applicable to it; or (b) failure by any Loan
Party to comply with or to perform any other provision of this Agreement or any other Loan Document applicable to it (and not constituting an Event of Default under any other provision of this Section 8) and continuance of such failure
described in this clause (b) for 30 days. 
 8.1.5 Representations; Warranties. 

Any representation or warranty made by any Loan Party herein or any other Loan Document is breached or is false or misleading in any material
respect, or any schedule, certificate, financial statement, report, notice or other writing furnished by any Loan Party to Lender in connection herewith is false or misleading in any material respect on the date as of which the facts therein set
forth are stated or certified. 

  
 58 

 8.1.6 Pension Plans. 

Institution of any steps by any Person to terminate a Pension Plan if as a result of such termination any Loan Party or any member of the
Controlled Group could be required to make a contribution to such Pension Plan, or could incur a liability or obligation to such Pension Plan, in excess of $100,000; (b) a contribution failure occurs with respect to any Pension Plan sufficient to
give rise to a Lien under Section 302(f) of ERISA; or (c) there shall occur any withdrawal or partial withdrawal from a Multiemployer Pension Plan and the withdrawal liability (without unaccrued interest) to Multiemployer Pension Plans as
a result of such withdrawal (including any outstanding withdrawal liability that Borrower or any other Loan Party or any member of the Controlled Group have incurred on the date of such withdrawal) exceeds $100,000. 

8.1.7 Judgments. 
 Final
judgments, awards, or orders (or any settlement of any claim that, if breached, could reasonably be expected to result in a judgment, order or award), other than in respect of any matter set forth in Schedule 5.15 as of the Closing Date,
which exceed an aggregate of $500,000 shall be rendered against any Loan Party and remain unsatisfied, and shall not have been vacated or had execution thereof stayed pending appeal within 60 days after entry or filing of such judgments; provided,
however, that any such judgment, order, award or settlement shall not give rise to an Event of Default under this subsection if and for so long as (A) the amount of such judgment, order, award or settlement is covered by a valid and binding
policy of insurance between the defendant and the insurer covering full payment thereof and (B) such insurer has been notified, and has not disputed the claim made for payment, of the amount of such judgment, order, award or settlement. 

8.1.8 Invalidity of Collateral Documents. 

Any Collateral Document shall cease to be in full force and effect; or any Loan Party (or any Person by, through or on behalf of any Loan
Party) shall contest in any manner the validity, binding nature or enforceability of any Collateral Document. 
 8.1.9 Invalidity of
Subordination Provisions. 
 Any subordination provision in any document or instrument governing
Non-Senior Debt, or any subordination provision in any subordination agreement that relates to any Non-Senior Debt or any subordination provision in any guaranty by any
Loan Party of any Non-Senior Debt, shall cease to be in full force and effect, or any Person (including the holder of any applicable Non-Senior Debt) shall contest in
any manner the validity, binding nature or enforceability of any such provision. 

  
 59 

 8.1.10 Change of Control. 

(a) Manager and its Investment Affiliates shall collectively cease to, directly or indirectly, (i) own and control at least 51% of the
outstanding equity interests of Borrower or Co-Borrower owned by them on the Closing Date (after giving effect to the Related Transactions) or (ii) possess the right to elect, directly or indirectly
(through contract, ownership of voting securities or otherwise), at all times a majority of the board of directors (or similar governing body) of Borrower and to direct the management policies and decisions of Borrower, or (b) a “Change of
Control” or other similar event shall occur, as defined in, or under, any documentation evidencing or otherwise relating to any Non-Senior Debt. 

8.2 Remedies. 
 If any
Event of Default described in Section 8.1.3 shall occur, the Commitments shall immediately terminate and the Loans and all other Obligations shall become immediately due and payable and Borrower shall become immediately obligated to cash
collateralize all Letters of Credit in a manner acceptable to Lender, all without presentment, demand, protest or notice of any kind; and, if any other Event of Default shall occur and be continuing, Lender may, in Lender’s sole discretion,
declare the Commitments to be terminated in whole or in part and/or declare all or any part of the Loans and other Obligations to be due and payable, whereupon the Commitments shall immediately terminate (or be reduced, as applicable) and/or the
Loans and other Obligations shall become immediately due and payable (in whole or in part, as applicable), and/or Borrower shall immediately become obligated to cash collateralize the Letters of Credit (all or any, as applicable) in a manner
acceptable to Lender, all without presentment, demand, protest or notice of any kind. Lender shall promptly advise Borrower of any such declaration, but failure to do so shall not impair the effect of such declaration. Notwithstanding the foregoing,
the effect as an Event of Default of any event described in Section 8.1.1 may only be waived by the written concurrence of Lender, and the effect as an Event of Default of any other event described in this Section 8 may
be waived by the written concurrence of Lender. Any cash collateral delivered hereunder shall be held by Lender (without liability for interest thereon) and applied to the Obligations arising in connection with any drawing under a Letter of Credit.
After the expiration or termination of all Letters of Credit, such cash collateral shall be applied by Lender to any remaining Obligations and any excess shall be delivered to Borrower or as a court of competent jurisdiction may elect. 

Section 9. Miscellaneous. 
 9.1
Waiver; Amendments. 
 No delay on the part of Lender in the exercise of any right, power or remedy shall operate as a waiver
thereof, nor shall any single or partial exercise by it any right, power or remedy preclude other or further exercise thereof, or the exercise of any other right, power or remedy. No amendment, modification or waiver of, or consent with respect to,
any provision of this Agreement, the Notes or any of the other Loan Documents (or any subordination and intercreditor agreement or other subordination provisions relating to any Non-Senior Debt) shall in any
event be effective unless the same shall be in writing and approved by Lender, and then any such amendment, modification, waiver or consent shall be effective only in the specific instance and for the specific purpose for which given. 

  
 60 

 9.2 Notices. 

Except as otherwise provided in Sections 2.2.2 and 2.2.3, all notices hereunder shall be in writing (including facsimile
transmission or electronic mail) and shall be sent to the applicable party at its address shown on Annex II or at such other address as such party may, by written notice received by the other parties, have designated as its address for such
purpose. Notices sent by facsimile transmission or electronic mail shall be deemed to have been given when sent; notices sent by mail shall be deemed to have been given three Business Days after the date when sent by registered or certified mail,
postage prepaid; and notices sent by hand delivery or overnight courier service shall be deemed to have been given when received. For purposes of Sections 2.2.2 and 2.2.3, Lender shall be entitled to rely on telephonic instructions
from any person that Lender in good faith believes is an authorized officer or employee of Borrower, and Borrower shall hold Lender harmless from any loss, cost or expense resulting from any such reliance. Each of Borrower, Co-Borrower and Lender hereby agree that Lender may, in its discretion, deliver information and notices to such financial institutions as may be a party hereto from time to time using the internet service
“Intralinks.” 
 9.3 Computations. 

Unless otherwise specifically provided herein, any accounting term used in this Agreement shall have the meaning customarily given such term
in accordance with GAAP, and all financial computations hereunder shall be computed in accordance with GAAP consistently applied. The explicit qualification of terms or computations by the phrase “in accordance with GAAP” shall in no way
be construed to limit the foregoing. 
 9.4 Costs; Expenses. 

Borrower and Co-Borrower agree to pay on demand all reasonable out-of-pocket costs and expenses of Lender (including Legal Costs) incurred after (but not prior to or on) the Closing Date in connection with the administration (including protection of Collateral) of this
Agreement, the other Loan Documents and all other documents provided for herein or delivered or to be delivered hereunder or in connection herewith (including any proposed or actual amendment, supplement or waiver to any Loan Document), and all
reasonable out-of-pocket costs and expenses (including Legal Costs) incurred by Lender after an Event of Default in connection with the collection of the Obligations and
enforcement of this Agreement, the other Loan Documents or any such other documents. In addition, Borrower and Co-Borrower agree to pay, and to save Lender harmless from all liability for, any fees of
Borrower’s auditors in connection with any reasonable exercise by Lender of their rights pursuant to Section 6.4. All Obligations provided for in this Section 9.4 shall survive repayment of the Loans, cancellation of the
Notes and termination of this Agreement). 

  
 61 

 9.5 Indemnification by Borrower. 

In consideration of the execution and delivery of this Agreement by Lender and the agreement to extend the Commitments provided hereunder,
each of Borrower and Co-Borrower hereby agree to indemnify, exonerate and hold Lender, and each of the officers, directors, employees, Affiliates and agents of Lender (each a “Lender Party”)
free and harmless from and against any and all actions, causes of action, suits, losses, liabilities, damages and expenses, including Legal Costs (collectively, the “Indemnified Liabilities”), incurred by Lender Parties or any of
them as a result of, or arising out of, or relating to (a) any tender offer, merger, purchase of equity interests, purchase of assets (including the Related Transactions) or other similar transaction financed or proposed to be financed in whole
or in part, directly or indirectly, with the proceeds of any of the Loans, (b) the use, handling, release, emission, discharge, transportation, storage, treatment or disposal of any Hazardous Material at any property owned or leased by Borrower
or any other Loan Party, (c) any violation of any Environmental Laws with respect to conditions at any property owned or leased by any Loan Party or the operations conducted thereon, (d) the investigation, cleanup or remediation of offsite
locations at which any Loan Party or their respective predecessors are alleged to have directly or indirectly disposed of Hazardous Materials or (e) the execution, delivery, performance or enforcement of this Agreement or any other Loan
Document by Lender, except to the extent any such Indemnified Liabilities result from the applicable Lender Party’s own gross negligence or willful misconduct as determined by a court of competent jurisdiction. If and to the extent that the
foregoing undertaking may be unenforceable for any reason, Borrower hereby agrees to make the maximum contribution to the payment and satisfaction of each of the Indemnified Liabilities which is permissible under applicable law. All Obligations
provided for in this Section 9.5 shall survive repayment of the Loans, cancellation of the Notes, any foreclosure under, or any modification, release or discharge of, any or all of the Collateral Documents and termination of this
Agreement. 
 9.6 Marshaling; Payments Set Aside. 

Lender shall be under no obligation to marshal any assets in favor of Borrower or any other Person or against or in payment of any or all of
the Obligations. To the extent that Borrower makes a payment or payments to Lender, or Lender enforces its Liens or exercises its rights of set-off, and such payment or payments or the proceeds of such
enforcement or set-off or any part thereof are subsequently invalidated, declared to be fraudulent or preferential, set aside or required (including pursuant to any settlement entered into by Lender in its
discretion) to be repaid to a trustee, receiver or any other party in connection with any bankruptcy, insolvency or similar proceeding, or otherwise, then to the extent of such recovery, the obligation hereunder 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 enforcement or setoff had not occurred. 

  
 62 

 9.7 Nonliability of Lender. 

The relationship between Borrower and Co-Borrower on the one hand and Lender on the other hand shall
be solely that of borrower and lender. Lender shall have no fiduciary responsibility to Borrower or Co-Borrower. Lender undertakes no responsibility to Borrower or
Co-Borrower to review or inform either of them of any matter in connection with any phase of Borrower’s business or operations. Execution of this Agreement by Borrower and
Co-Borrower constitutes a full, complete and irrevocable release of any and all claims which either of them may have at law or in equity in respect of all prior discussions and understandings, oral or written,
relating to the subject matter of this Agreement and the other Loan Documents. Lender shall not have any liability with respect to, and Borrower and Co-Borrower hereby waive, release and agree not to sue for,
any special, indirect, punitive or consequential damages or liabilities. 
 9.8 Assignments; Participations. 

9.8.1 Assignments. 
 (a)
Lender may at any time assign to one or more Persons (any such Person, an “Assignee”) all or any portion of Lender’s Loans and Commitments. Borrower and Co-Borrower shall be entitled to
continue to deal solely and directly with Lender in connection with the interests so assigned to an Assignee until Lender shall have received and accepted an effective Assignment Agreement executed, delivered and fully completed by the applicable
parties thereto. 
 (b) From and after the date on which the conditions described above have been met, (i) such Assignee shall be
deemed automatically to have become a party hereto and, to the extent that rights and obligations hereunder have been assigned to such Assignee pursuant to such Assignment Agreement, shall have the rights and obligations of a “Lender”
hereunder and (ii) the assigning Lender, to the extent that rights and obligations hereunder have been assigned by it pursuant to such Assignment Agreement, shall be released from its rights (other than its indemnification rights) and
obligations hereunder. For the avoidance of doubt, upon Lender’s assignment of any or all of its Loans and/or Commitments to an Assignee, such Assignee shall have all of the rights and obligations of Lender in respect of such assigned Loans
and/or Commitments, and shall be deemed to be “Lender” hereunder, as if such Person were an original party hereto. Upon the request of the Assignee (and, as applicable, the assigning Lender) pursuant to an effective Assignment Agreement,
Borrower and Co-Borrower shall execute and deliver to Lender for delivery to the Assignee (and, as applicable, the assigning Lender) a Note in the principal amount of the Assignee’s Pro Rata Share of the
Revolving Loan Commitment plus the principal amount of the Assignee’s Term Loans (and, as applicable, a Note in the principal amount of the Pro Rata Share of the Revolving Loan Commitment retained by the assigning Lender plus the principal
amount of the Term Loans retained by the assigning Lender). Each such Note shall be dated the effective date of such assignment. Upon receipt by the assigning Lender of such Note, the assigning Lender shall return to Borrower any prior Note held by
it. 

  
 63 

 (c) Notwithstanding the provisions of Section 9.8.1(a), Borrower and Co-Borrower hereby authorize and direct Lender, for and on behalf of Borrower and Co-Borrower, to maintain a record of ownership of the Notes and any interest therein, which
record, or “book-entry system”, shall identify the owner or owners of the Notes and any such interests therein. The right to the principal of, and stated interest on, the Notes may be transferred only through such book-entry system. 

(d) Notwithstanding the foregoing provisions of this Section 9.8.1 or any other provision of this Agreement, Lender may at any
time assign all or any portion of its Loans and its Notes (i) as collateral security to a Federal Reserve Bank, to Lender’s trustee for the benefit of its investors or to any other Person (but no such assignment shall release Lender from
any of its obligations hereunder) and (ii) to (x) an Affiliate of Lender or (y) an Eligible Institution. 
 9.8.2
Participations. 
 Lender may at any time sell to one or more Persons participating interests in its Loans, Commitments or other
interests hereunder (any such Person, a “Participant”). In the event of a sale by Lender of a participating interest to a Participant, (a) Lender’s obligations hereunder shall remain unchanged for all purposes,
(b) Borrower and Co-Borrower shall continue to deal solely and directly with Lender in connection with Lender’s rights and obligations hereunder and (c) all amounts payable by Borrower and Co-Borrower shall be determined as if Lender had not sold such participation and shall be paid directly to Lender. No Participant shall have any direct or indirect voting rights hereunder. Borrower and Co-Borrower agree that if amounts outstanding under this Agreement are due and payable (as a result of acceleration or otherwise), each Participant shall be deemed to have the right of
set-off in respect of its participating interest in such amounts to the same extent as if the amount of its participating interest were owing directly to it as Lender under this Agreement; provided that such
right of set-off shall be subject to the obligation of each Participant to share with Lender, and Lender agrees to share with each Participant, as provided in Section 2.11.4. Borrower and Co-Borrower also agree that each Participant shall be entitled to the benefits of Section 3 as if it were a Lender (provided that no Participant shall receive any greater compensation pursuant to
Section 3 than would have been paid to Lender if no participation had been sold). 
 9.9 Confidentiality. 

Lender agrees to use commercially reasonable efforts (equivalent to the efforts Lender applies to maintain the confidentiality of its own
confidential information) to maintain as confidential all information provided to it by any Loan Party and designated as confidential, except that Lender may disclose such information (a) to Persons employed or engaged by Lender

  
 64 

 
or any of its Affiliates (including collateral managers of Lender) in evaluating, approving, structuring or administering the Loans and the Commitments; (b) to any assignee or participant or
potential assignee or participant that has agreed to comply with the covenant contained in this Section 9.9 (and any such assignee or participant or potential assignee or participant may disclose such information to Persons employed or
engaged by them as described in clause (a) above); (c) as required or requested by any federal or state regulatory authority or examiner, or any insurance industry association, or as reasonably believed by Lender to be compelled by any court
decree, subpoena or legal or administrative order or process; (d) as, on the advice of Lender’s counsel, is required by law; (e) in connection with the exercise of any right or remedy under the Loan Documents or in connection with any
litigation to which Lender is a party; (f) to any nationally recognized rating agency or investor of Lender that requires access to information about Lender’s investment portfolio in connection with ratings issued or investment decisions
with respect to Lender; (g) that ceases to be confidential through no fault of Lender; (h) to a Person that is an investor or prospective investor in a Securitization (as defined below) that agrees that its access to information regarding
Borrower, Co-Borrower and the Subsidiaries and the Loans and Commitments is solely for purposes of evaluating an investment in such Securitization and who agrees to treat such information as confidential; or
(i) to a Person that is a trustee, collateral manager, servicer, noteholder or secured party in a Securitization in connection with the administration, servicing and reporting on the assets serving as collateral for such Securitization. For
purposes of this Section, “Securitization” means a public or private offering by Lender or any of its Affiliates or their respective successors and assigns, of securities which represent an interest in, or which are collateralized,
in whole or in part, by the Loans or the Commitments. Notwithstanding the foregoing, Borrower and Co-Borrower consent to the publication by Lender of a tombstone or similar advertising material relating to the
financing transactions contemplated by this Agreement, and Lender reserves the right to provide to industry trade organizations information necessary and customary for inclusion in league table measurements. 

9.10 Captions. 
 Captions used
in this Agreement are for convenience only and shall not affect the construction of this Agreement. 

  
 65 

 9.11 Nature of Remedies. 

All Obligations of Borrower and Co-Borrower and rights of Lender expressed herein or in any other
Loan Document shall be in addition to and not in limitation of those provided by applicable law. No failure to exercise and no delay in exercising, on the part of Lender, 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. 

9.12 Counterparts. 
 This
Agreement may be executed in any number of counterparts and by the different parties hereto on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the
same Agreement. Receipt by telecopy of any executed signature page to this Agreement or any other Loan Document shall constitute effective delivery of such signature page. 

9.13 Severability. 
 The
illegality or unenforceability of any provision of this Agreement or any instrument or agreement required hereunder shall not in any way affect or impair the legality or enforceability of the remaining provisions of this Agreement or any instrument
or agreement required hereunder. 
 9.14 Entire Agreement. 

This Agreement, together with the other Loan Documents, embodies the entire agreement and understanding among the parties hereto and
supersedes all prior or contemporaneous agreements and understandings of such Persons, verbal or written, relating to the subject matter hereof and thereof and any prior arrangements made with respect to the payment by Borrower or Co-Borrower of (or any indemnification for) any fees, costs or expenses payable to or incurred (or to be incurred) by or on behalf of Lender. 

9.15 Successors; Assigns. 

This Agreement shall be binding upon Borrower, Co-Borrower and Lender and their respective successors
and assigns, and shall inure to the benefit of Borrower, Co-Borrower and Lender and the successors and assigns of Lender. No other Person shall be a direct or indirect legal beneficiary of, or have any direct
or indirect cause of action or claim in connection with, this Agreement or any of the other Loan Documents. None of Borrower, Co-Borrower or any Subsidiary may assign or transfer any of its rights or
Obligations under this Agreement without the prior written consent of Lender. 

  
 66 

 9.16 Governing Law. 

THIS AGREEMENT AND EACH NOTE SHALL BE A CONTRACT MADE UNDER AND GOVERNED BY THE INTERNAL LAWS OF THE STATE OF NEW YORK APPLICABLE TO
CONTRACTS MADE AND TO BE PERFORMED ENTIRELY WITHIN SUCH STATE, WITHOUT REGARD TO CONFLICT OF LAWS PRINCIPLES TO THE EXTENT THAT SUCH PRINCIPLES WOULD REQUIRE THE APPLICATION OF LAWS OF ANOTHER JURISDICTION. 

9.17 Forum Selection; Consent to Jurisdiction. 

ANY LITIGATION BASED HEREON, OR ARISING OUT OF, UNDER, OR IN CONNECTION WITH THIS AGREEMENT OR ANY OTHER LOAN DOCUMENT, SHALL BE BROUGHT AND
MAINTAINED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK (IN EACH CASE, SITTING IN THE BOROUGH OF MANHATTAN); PROVIDED THAT ANY SUIT SEEKING ENFORCEMENT AGAINST ANY
COLLATERAL OR OTHER PROPERTY MAY BE BROUGHT, AT LENDER’S OPTION, IN THE COURTS OF ANY JURISDICTION WHERE SUCH COLLATERAL OR OTHER PROPERTY MAY BE FOUND. BORROWER AND CO-BORROWER HEREBY EXPRESSLY AND
IRREVOCABLY SUBMIT TO THE JURISDICTION OF THE COURTS OF THE STATE OF NEW YORK AND OF THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE PURPOSE OF ANY SUCH LITIGATION AS SET FORTH ABOVE. BORROWER AND CO-BORROWER FURTHER IRREVOCABLY CONSENT TO THE SERVICE OF PROCESS BY REGISTERED MAIL, POSTAGE PREPAID, OR BY PERSONAL SERVICE WITHIN OR WITHOUT THE STATE OF NEW YORK. BORROWER AND
CO-BORROWER HEREBY EXPRESSLY AND IRREVOCABLY WAIVE, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY OBJECTION WHICH THEY MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE OF ANY SUCH LITIGATION BROUGHT IN ANY SUCH
COURT REFERRED TO ABOVE AND ANY CLAIM THAT ANY SUCH LITIGATION HAS BEEN BROUGHT IN AN INCONVENIENT FORUM. 
 9.18 Waiver of Jury
Trial. 
 EACH OF BORROWER, CO-BORROWER AND LENDER HEREBY WAIVES ANY RIGHT TO A TRIAL BY JURY
IN ANY ACTION OR PROCEEDING TO ENFORCE OR DEFEND ANY RIGHTS UNDER THIS AGREEMENT, ANY NOTE, ANY OTHER LOAN DOCUMENT AND ANY AMENDMENT, INSTRUMENT, DOCUMENT OR AGREEMENT DELIVERED OR WHICH MAY IN THE FUTURE BE DELIVERED IN CONNECTION HEREWITH OR
THEREWITH OR ARISING FROM ANY LENDING RELATIONSHIP EXISTING IN CONNECTION WITH ANY OF THE FOREGOING, AND AGREES THAT ANY SUCH ACTION OR PROCEEDING SHALL BE TRIED BEFORE A COURT AND NOT BEFORE A JURY. 

[SIGNATURE PAGES FOLLOW] 

  
 67 

 The parties hereto have caused this Agreement to be duly executed and delivered by their
duly authorized officers as of the date first set forth above. 
  

			
	5.11, INC., as Borrower

 
			
		
	By:	 	/s/ Patrick A. Maciariello

 
			
	Name:	 	Patrick A. Maciariello

 
			
	Title:	 	 Assistant Secretary

	
	5.11 TA, INC., as Co-Borrower

 
			
		
	By:	 	/s/ Patrick A. Maciariello

 
			
	Name:	 	Patrick A. Maciariello

 
			
	Title:	 	 President

	
	COMPASS GROUP DIVERSIFIED HOLDINGS LLC, as Lender

 
			
		
	By:	 	/s/ Ryan J. Faulkingham

 
			
	Name:	 	Ryan J. Faulkingham

 
			
	Title:	 	Chief Financial Officer

  
 [Signature Page to Credit
Agreement] 

 ANNEX I 

Commitments and Pro Rata Shares 
  

													
	 Lender
	  	Revolving
Loan
Commitment	 	 	Term A Loan	 	 	Term B Loan	 
	 Compass Group Diversified Holdings LLC
	  	 	100	% 	 	 	100	% 	 	 	100	% 

  
 Annex I 

 Annex II 

Addresses 
 5.11, as Borrower 

5.11 TA, Inc., as Co-Borrower 

Address for Notices: 
 1360 Reynolds Ave. 

Irvine, CA 
 92614 

Attn: David Unter 
 Telephone: 949-800-1377 
 Compass Group Diversified Holdings LLC, 

as Lender 
 Address for Notices: 

61 Wilton Road, Second Floor 
 Westport, CT 06880 

Attention: Chief Financial Officer 
 Telephone: (203) 221-1703 
 Telecopy: (203) 221-8253 

Address for Payments: 
 Bank: Bank of America 

[***] 

  
 Annex II 

 Exhibit A 

Form of Assignment Agreement 

This Assignment Agreement (this “Assignment Agreement”) is entered into as of [______ __, 20__]by and between the Assignor
named on the signature page hereto (“Assignor”) and the Assignee named on the signature page hereto (“Assignee”). Reference is made to the Credit Agreement dated as of August [__], 2016 (as amended or otherwise
modified from time to time, the “Credit Agreement”) by and among 5.11, Inc. (“Borrower”), 5.11 TA, Inc. (“Co-Borrower”) and Compass Group Diversified Holdings LLC,
as lender (together with any successors or assigns, “Lender”), and the other parties thereto. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Credit Agreement. 

Assignor and Assignee agree as follows: 

1. Assignor hereby sells and assigns to Assignee, and Assignee hereby purchases and assumes from Assignor the interests set forth on the
schedule attached hereto, in and to Assignor’s rights and obligations under the Credit Agreement and the other Loan Documents as of the Effective Date (as defined below). Such purchase and sale is made without recourse, representation or
warranty except as expressly set forth herein. 
 2. Assignor (i) represents that, as of the Effective Date, it is the legal and
beneficial owner of the interests assigned hereunder free and clear of any adverse claim; (ii) makes no other representation or warranty and assumes no responsibility with respect to any statement, warranties or representations made in or in
connection with the Credit Agreement or the execution, legality, validity, enforceability, genuineness, sufficiency or value of the Credit Agreement, any Loan Documents or any other instrument or document furnished pursuant thereto; and
(iii) makes no representation or warranty and assumes no responsibility with respect to the financial condition of Borrower, Co-Borrower or any Subsidiary or any other Person or the performance or
observance by Borrower, Co-Borrower or any Subsidiary of its Obligations under the Credit Agreement or the Loan Documents or any other instrument or document furnished pursuant thereto. 

3. Assignee (i) represents and warrants that it is legally authorized to enter into this Assignment Agreement; (ii) confirms that
it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant thereto and such other documents and information as it has deemed appropriate to make its own credit analysis and
decision to enter into this Assignment Agreement; (iii) agrees that it will, independently and without reliance upon 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 Credit Agreement; (iv) agrees that it will perform in accordance with their terms all obligations which by the terms of the Credit Agreement are required to be performed by
it as a Lender; (vi) represents that on the date of this Assignment Agreement it is not presently aware of any facts that would cause it to make a claim under the Credit Agreement; and (vii) if organized under the laws of a jurisdiction
outside the United States, attaches the forms prescribed by the Internal Revenue Service of the United States, which have been duly executed, certifying as to Assignee’s exemption from United States withholding taxes with respect to all
payments to be made to Assignee under the Agreement or such other documents as are necessary to indicate that all such payments are subject to such tax at a rate reduced by an applicable tax treaty. 

  
 A-1 

 4. The effective date for this Assignment Agreement shall be as set forth on the schedule
attached hereto (the “Effective Date”). 
 5. Upon such acceptance, from and after the Effective Date, (i) Assignee
shall be a party to the Credit Agreement and, to the extent provided in this Assignment Agreement, have the rights and obligations of a Lender thereunder and (ii) Assignor shall, to the extent provided in this Assignment Agreement, relinquish
its rights (other than indemnification rights) and be released from its obligations under the Credit Agreement. 
 6. Upon such acceptance,
from and after the Effective Date, Borrower shall make all payments in respect of the interest assigned hereby (including payments of principal, interest, fees and other amounts) to Assignee. Assignor and Assignee shall make all appropriate
adjustments in payments for periods prior to the Effective Date with respect to the making of this assignment directly between themselves. 

7. THIS ASSIGNMENT AND ACCEPTANCE SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE INTERNAL LAWS OF THE STATE OF NEW
YORK, WITHOUT REGARD TO CONFLICTS OF LAWS PRINCIPLES. 
 8. This Assignment may be executed in any number of counterparts and by the
different parties hereto on separate counterparts and each such counterpart shall be deemed to be an original, but all such counterparts shall together constitute but one and the same Assignment. Receipt by telecopy of any executed signature page to
this Assignment shall constitute effective delivery of such signature page. 

  
 A-2 

 The parties hereto have caused this Agreement to be executed and delivered as of the date
first written above. 
  

			
	ASSIGNOR:
	                                    
                

 
			
		
	By:	 	 

 
			
	Title:	 	 

 
			
	
	ASSIGNEE:
	                                    
                

 
			
		
	By:	 	 

 
			
	Title:	 	 

  
 A-3 

 Schedule to Assignment Agreement 

 

			
	Assignor:	 	                                      
  
	Assignee:	 	                                      
  
	Effective Date:	 	                                      
  

 Credit Agreement dated as of August 31     , 2016 (as amended or otherwise modified from
time to time, the “Credit Agreement”) among 5.11, Inc. (“Borrower”), Compass Group Diversified Holdings LLC, as lender (together with any successors or assigns, “Lender”), and the other parties
thereto. 
 Interests Assigned: 
  

													
	 Commitment/Loan
	  	Revolving Loan
Commitment	 	  	Term A Loan
Commitment	 	  	Term B Loan
Commitment	 
	 Assignor Amounts
	  	$	 	 	  	$	 	 	  	$	 	 
	 Amounts Assigned
	  	$	 	 	  	$	 	 	  	$	 	 
	 Assignee Amounts (post-assignment)
	  	$	                 	 	  	$	                 	 	  	$	                 	 

 Assignee Information: 
  

									
	Address for Notices:	 		 	Address for Payments:
	 	 		 	
	 	 		 	Bank:	 	 
	Attention:	 	 	 		 	ABA#:	 	 
	Telephone:	 	 	 		 	Account#:	 	 
	Telecopy:	 	 	 		 	Reference:	 	 

  
 A-4 

 Exhibit B 

Form of Compliance Certificate 

Please refer to the Credit Agreement dated as of August 31     , 2016 (as amended or otherwise modified from time to
time, the “Credit Agreement”) among 5.11, Inc.(“Borrower”), Compass Group Diversified Holdings LLC, as lender (together with any successors or assigns, “Lender”), and the other parties thereto. This
certificate (this “Certificate”), together with supporting calculations attached hereto, is delivered to Lender pursuant to the terms of the Credit Agreement. Terms used but not otherwise defined herein are used herein as defined in
the Credit Agreement. 
 Enclosed herewith is a copy of the [annual audited/quarterly] report of Borrower, Co-Borrower and the Subsidiaries as at [______, 20__] (the “Computation Date”), which report fairly presents in all material respects the financial condition and results of operations
[(subject to the absence of footnotes and to normal year-end adjustments)] of Borrower, Co-Borrower and the Subsidiaries as of the Computation Date and has been
prepared in accordance with GAAP consistently applied. 
 Borrower hereby certifies and warrants that the computations set forth on the
schedule attached hereto correspond to the ratios and/or financial restrictions contained in the Credit Agreement and such computations are true and correct as at the Computation Date. 

Borrower further certifies that no Event of Default or Default has occurred and is continuing. 

Borrower has caused this Certificate to be executed and delivered by its respective officer thereunto duly authorized on [______,
20__]. 
  

			
	5.11, INC.

 
			
		
	By:	 	 

 
			
	Title:	 	 

  
 B-1 

 Schedule to Compliance Certificate 

Dated as of [______, 20__] 
  

											
	 A.
	  	 	Minimum Fixed Charge Coverage Ratio	  			
		  	 	1.	 	  	Consolidated Net Income	  	$	                 	 
		  	 	2.	 	  	Plus:  Interest Expense	  	$	                 	 
		  				  	   income tax expense
	  	$	                 	 
		  				  	   depreciation
	  	$	                 	 
		  				  	   amortization
	  	$	                 	 
		  				  	   other
	  	$	                 	 
		  				  	   management fees paid or accrued
	  	$	                 	 
		  	 	3.	 	  	EBITDA	  	$	                 	 
		  	 	4.	 	  	Income taxes paid	  	$	                 	 
		  	 	5.	 	  	Management fees paid in cash	  	$	                 	 
		  	 	6.	 	  	Capital Expenditures	  	$	                 	 
		  	 	7.	 	  	Sum of (4), (5) and (6)	  	$	                 	 
		  	 	8.	 	  	Remainder of (3) minus (7)	  	$	                 	 
		  	 	9.	 	  	Interest Expense paid in cash	  	$	                 	 
		  	 	10.	 	  	Required payments of principal of Debt (including Term Loans but excluding Revolving Loans)	  	$	                 	 
		  	 	12.	 	  	Sum of (9) and (10)	  	$	                 	 
		  	 	13.	 	  	Ratio of (8) to (11)	  	 	             to 1	 
		  	 	14.	 	  	Minimum Required	  	 	             to 1	 
	 B.
	  	 	Maximum Senior Debt to EBITDA Ratio	  			
		  	 	1.	 	  	Senior Debt	  	$	                 	 
		  	 	2.	 	  	EBITDA	  	$	                 	 
		  	 	3.	 	  	Ration of (1) to (2)	  	 	             to 1	 
		  	 	4.	 	  	Maximum Allowed	  	 	             to 1	 
	 C.
	  	 	Maximum Total Debt to EBITDA Ratio	  			
		  	 	1.	 	  	Total Debt	  	$	                 	 
		  	 	2.	 	  	EBITDA	  	$	                 	 
		  				  	(from Item A(3) above)	  			
		  	 	3.	 	  	Ratio of (1) to (2)	  	 	             to 1	 
		  	 	4.	 	  	Maximum allowed	  	 	             to 1	 
	 D.
	  	 	Capital Expenditures	  			
		  	 	1.	 	  	Capital Expenditures for the Fiscal Year	  	$	                 	 
		  	 	2.	 	  	Maximum Permitted Capital Expenditures	  	$	                 	 

  
 B-2 

 Exhibit C 

Form of Note 
  

			
	$200,000,000	  	 August 31, 2016

Westport, Connecticut

 The undersigned, for value received, promise to pay, jointly and severally, to the order of Compass Group
Diversified Holdings LLC (“Lender”) at its principal office of 61 Wilton Road, Westport, Connecticut 06880, the aggregate unpaid amount of all Loans made to the undersigned by Lender pursuant to the Credit Agreement referred to
below, such principal amount to be payable on the dates set forth in the Credit Agreement. 
 The undersigned further promise to pay,
jointly and severally, interest on the unpaid principal amount of each Loan from the date of such Loan until such Loan is Paid in Full, payable at the rate(s) and at the time(s) set forth in the Credit Agreement. Payments of both principal and
interest are to be made in lawful money of the United States of America. 
 This promissory note (“Note”) evidences
indebtedness incurred under, and is subject to the terms and provisions of, the Credit Agreement, dated as of August 31, 2016 (as amended or otherwise modified from time to time, the “Credit Agreement”; terms not otherwise
defined herein are used herein as defined in the Credit Agreement), among the undersigned and Lender, to which Credit Agreement reference is hereby made for a statement of the terms and provisions under which this Note may or must be paid prior to
its due date or its due date accelerated. 
 [Remainder of page intentionally left blank; signature page follows] 

  
 C-1 

 This Note is made under and governed by the laws of the State of New York applicable to
contracts made and to be performed entirely within such State. 
  

			
	5.11, INC.

 
			
		
	By:	 	 

 
			
	Name:	 	Patrick A. Maciariello
	Title:	 	Assistant Secretary
	
	5.11 TA, INC.

 
			
		
	By:	 	 

 
			
	Name:	 	Patrick A. Maciariello
	Title:	 	President

  
 C-2 

 Exhibit D 

Form of Notice of Borrowing 

Please refer to the Credit Agreement dated as of August 31     , 2016 (as amended or otherwise modified from time to
time, the “Credit Agreement”) among 5.11, Inc. (“Borrower”), 5.11 TA, Inc. (“Co-Borrower”) and Compass Group Diversified Holdings LLC, as lender (together
with any successors or assigns, “Lender”), and the other parties thereto. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement. This notice is given pursuant to
Section 2.2.2 of the Credit Agreement. Borrower hereby requests a borrowing under the Credit Agreement as follows: 
 The
aggregate amount of the proposed borrowing is [$__________]. The requested borrowing date for the proposed borrowing (which is a Business Day) is [________, 20__]. The Revolving Loans comprising the proposed borrowing are
[Base Rate][LIBOR] Loans. The duration of the Interest Period for each LIBOR Loan made as part of the proposed borrowing, if applicable, is [_____] months (which shall be 1, 2 or 3 months). 

Borrower and Co-Borrower have caused this Notice to be executed and delivered by its respective
officer or designee thereunto duly authorized on [______, 20__]. 
  

			
	 5.11, INC.

		
	 By:
	 	 
		
	 Title:
	 	 
	
	 5.11 TA, INC.

		
	 By:
	 	 
		
	 Title:
	 	 

  
 D-1 

 Exhibit E 

Form of Notice of Conversion/Continuation 

Please refer to the Credit Agreement dated as of August 31     , 2016 (as amended or otherwise modified from time to
time, the “Credit Agreement”) among 5.11, Inc. (“Borrower”), Compass Group Diversified Holdings LLC, as lender (together with any successors or assigns, “Lender”), and the other parties thereto.
Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Credit Agreement. This notice is given pursuant to Section 2.2.3 of the Credit Agreement. Borrower hereby requests a
[conversion][continuation] of [Term A Loans][Term B Loans][Revolving Loans] as follows: 

The date of the proposed [conversion] [continuation] is [______, 20__] (which shall be a Business Day). The aggregate
amount of the [Term [A][B] Loans] [Revolving Loans] proposed to be [converted] [continued] is $______________. [Specify which part is to be converted and which part is to be continued, if
appropriate.] The Loans to be [continued] [converted] are [Base Rate Loans] [LIBOR Loans] and the Loans resulting from the proposed [conversion] [continuation] will be [Base Rate Loans] [LIBOR
Loans]. The duration of the requested Interest Period for each LIBOR Loan made as part of the proposed [conversion] [continuation] is [____] months (which shall be 1, 2 or 3 months). 

Borrower and Co-Borrower have caused this Notice to be executed and delivered by its officer
thereunto duly authorized on [______, 20__]. 
  

			
	 5.11, INC.

		
	 By:
	 	 
		
	 Title:
	 	 
	
	 5.11 TA, INC.

		
	 By:
	 	 
		
	 Title:
	 	 

  
 E-1

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00336-of-00352.parquet"}]]