Common use of Prepayments of Other Indebtedness Clause in Contracts

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness and Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 Limitation on Issuance of Capital Stock 71 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE SECTION 7.01 The Guarantee 73 SECTION 7.02 Obligations Unconditional 73 SECTION 7.03 Reinstatement 75 SECTION 7.04 Subrogation; Subordination 75 SECTION 7.05 Remedies 75 SECTION 7.06 Instrument for the Payment of Money 75 SECTION 7.07 Continuing Guarantee 75 SECTION 7.08 General Limitation on Guarantee Obligations 75 SECTION 7.09 Release of Subsidiary Guarantors 75 SECTION 7.10 Right of Contribution 76

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION etc 102 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 102 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 103 Section 6.14 Business 103 Section 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Accounting Changes 103 Section 6.16 Fiscal Year 72 SECTION Periods 103 Section 6.17 No Further Negative Pledge 72 SECTION 103 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 104 Section 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Person 104 ARTICLE VII GUARANTEE SECTION 105 Section 7.01 The Guarantee 73 SECTION 105 Section 7.02 Obligations Unconditional 73 SECTION 105 Section 7.03 Reinstatement 75 SECTION 106 Section 7.04 Subrogation; Subordination 75 SECTION 107 Section 7.05 Remedies 75 SECTION 107 Section 7.06 Instrument for the Payment of Money 75 SECTION 107 Section 7.07 Continuing Guarantee 75 SECTION 107 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 107 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 108 Section 7.10 Right of Contribution 76108 ARTICLE VIII EVENTS OF DEFAULT 108 Section 8.01 Events of Default 108 Section 8.02 Rescission 112 Section 8.03 Application of Proceeds 112 ARTICLE IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 113 Section 9.01 Appointment 113 Section 9.02 Agent in Its Individual Capacity 114 Section 9.03 Exculpatory Provisions 114 Section 9.04 Reliance by Agent 115 Section 9.05 Delegation of Duties 116 Section 9.06 Successor Agent 116 Section 9.07 Non-Reliance on Agent and Other Lenders 117 Section 9.08 Name Agents 117 Section 9.09 Indemnification 117 Section 9.10 Withholding Taxes 118 Section 9.11 Lender’s Representations, Warranties and Acknowledgements 118

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 100 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 101 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 102 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION 102 Section 6.15 Business 71 SECTION 102 Section 6.16 Limitation on Accounting Changes 102 Section 6.17 Fiscal Year 72 SECTION 6.17 102 Section 6.18 Operating Lease Obligations 102 Section 6.19 No Further Negative Pledge 72 SECTION 6.18 102 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 103 Section 6.21 Swap Agreements 73 SECTION Embargoed Person 103 Section 6.22 LTB as Passive Holding Company 73 Health Care Matters 103 Section 6.23 Certain Fees and Payments 103 ARTICLE VII VII. GUARANTEE SECTION 104 Section 7.01 The Guarantee 73 SECTION 104 Section 7.02 Obligations Unconditional 73 SECTION 104 Section 7.03 Reinstatement 75 SECTION 105 Section 7.04 Subrogation; Subordination 75 SECTION 105 Section 7.05 Remedies 75 SECTION 105 Section 7.06 Instrument for the Payment of Money 75 SECTION 106 Section 7.07 Continuing Guarantee 75 SECTION 106 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 106 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 106 Section 7.10 Right of Contribution 76106 ARTICLE VIII. EVENTS OF DEFAULT 107 Section 8.01 Events of Default 107 ARTICLE IX. COLLATERAL ACCOUNT; APPLICATION OF COLLATERAL PROCEEDS 110 Section 9.01 Collateral Account 110 Section 9.02 Application of Proceeds 111 ARTICLE X. THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 112 Section 10.01 Appointment 112 Section 10.02 Agent in Its Individual Capacity 112 Section 10.03 Exculpatory Provisions 112 Section 10.04 Reliance by Agent 113 Section 10.05 Delegation of Duties 113 Section 10.06 Successor Agent 113 Section 10.07 Non-Reliance on Agent and Other Lenders 114 Section 10.08 Name Agents 114 Section 10.09 Indemnification 114 ARTICLE XI. MISCELLANEOUS 114 Section 11.01 Notices 114 Section 11.02 Waivers; Amendment 116 Section 11.03 Expenses; Indemnity 118 Section 11.04 Successors and Assigns 120 Section 11.05 Survival of Agreement 123 Section 11.06 Counterparts; Integration; Effectiveness 123 Section 11.07 Severability 123 Section 11.08 Right of Setoff 124 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 124 Section 11.10 Waiver of Jury Trial 125 Section 11.11 Headings; No Adverse Interpretation of Other Agreements 125 Section 11.12 Confidentiality 125 Section 11.13 Interest Rate Limitation 126 Section 11.14 Assignment and Acceptance 126 Section 11.15 Obligations Absolute 126 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 126 Section 11.17 Patriot Act 127 Section 11.18 Judgment Currency 127 Section 11.19 Assumption of Obligations under Loan Documents 127 Section 11.20 Assumption of Obligations under Commitment Letter and Fee Letter 127 Annex I Applicable Margin Annex II Amortization Table Annex III Initial Lenders and Commitments Schedule 1.01(a) Additional Equity Investors Schedule 1.01(c) Subsidiary Guarantors Schedule 1.01(d) Pledgors Schedule 1.01(e) Refinancing Indebtedness

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 96 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 97 SECTION 6.13 Limitation on Issuance of Capital Stock 71 [Reserved.] 98 SECTION 6.14 Limitation on Creation of Subsidiaries 71 [Reserved.] 98 SECTION 6.15 Business 71 98 SECTION 6.16 Limitation on Accounting Changes 98 SECTION 6.17 Fiscal Year 72 98 SECTION 6.17 6.18 No Further Negative Pledge 72 98 SECTION 6.18 6.19 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 99 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Embargoed Person 99 SECTION 7.01 The Guarantee 73 100 SECTION 7.02 Obligations Unconditional 73 100 SECTION 7.03 Reinstatement 75 101 SECTION 7.04 Subrogation; Subordination 75 101 SECTION 7.05 Remedies 75 101 SECTION 7.06 Instrument for the Payment of Money 75 102 SECTION 7.07 Continuing Guarantee 75 102 SECTION 7.08 General Limitation on Guarantee Obligations 75 102 SECTION 7.09 Release of Subsidiary Guarantors 75 102 SECTION 7.10 Right of Contribution 76102 SECTION 8.01 Events of Default 103 SECTION 8.02 Rescission 105 SECTION 8.03 Application of Proceeds 105 SECTION 9.01 Appointment and Authority 106 SECTION 9.02 Rights as a Lender 106 SECTION 9.03 Exculpatory Provisions 107 SECTION 9.04 Reliance by Agent 108 SECTION 9.05 Delegation of Duties 108 SECTION 9.06 Resignation of Agent 108 SECTION 9.07 Non-Reliance on Agent and Other Lenders 109 SECTION 9.08 Withholding Tax 109 SECTION 9.09 No Other Duties, etc. 109 SECTION 9.10 Collateral Matters 109 SECTION 10.01 Notices 110 SECTION 10.02 Waivers; Amendment 113 SECTION 10.03 Expenses; Indemnity; Damage Waiver 115 SECTION 10.04 Successors and Assigns 116 SECTION 10.05 Survival of Agreement 119 SECTION 10.06 Counterparts; Integration; Effectiveness 119 SECTION 10.07 Severability 120 SECTION 10.08 Right of Setoff 120 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 120 SECTION 10.10 Waiver of Jury Trial 121 SECTION 10.11 Headings 121 SECTION 10.12 Treatment of Certain Information; Confidentiality 121 SECTION 10.13 USA PATRIOT Act Notice 122 SECTION 10.14 Interest Rate Limitation 122 SECTION 10.15 Obligations Absolute 122 SECTION 10.16 Joint and Several Liability 123 SECTION 10.17 No Advisory or Fiduciary Responsibility 123 SECTION 10.18 Super Holdco Transaction 123 SECTION 10.19 Amendment and Restatement 123 Annex 1 Amortization Schedule Schedule X Commitments Schedule 1.01(b) Guarantors

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 Etc. 100 SECTION 6.12 6.11 Limitation on Certain Restrictions on Subsidiaries 70 100 SECTION 6.13 6.12 Limitation on Issuance of Capital Stock 71 101 SECTION 6.13 Business; Holding Company Status 101 SECTION 6.14 Limitation on Creation of Subsidiaries 71 Fiscal Year 101 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 101 SECTION 6.18 6.16 Anti-Terrorism Corruption Law; Anti-Money Laundering 72 102 SECTION 6.17 Limitation on Hedge Agreements 102 SECTION 6.18 Limitation on Zoning and Contract Changes and Compliance 102 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 No Joint Assessment; Separate Lots 103 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Holdings 103 SECTION 7.01 The Guarantee 73 103 SECTION 7.02 Obligations Unconditional 73 103 SECTION 7.03 Reinstatement 75 104 SECTION 7.04 Subrogation; Subordination 75 104 SECTION 7.05 Remedies 75 105 SECTION 7.06 Instrument for the Payment of Money 75 105 SECTION 7.07 Continuing Guarantee 75 105 SECTION 7.08 General Limitation on Guarantee Obligations 75 105 SECTION 7.09 Release of Subsidiary Guarantors 75 105 SECTION 7.10 Right of Contribution 76106 SECTION 7.11 Nevada Specific Provisions and Waivers 106 SECTION 7.12 Keepwell 106 SECTION 8.01 Events of Default 107 SECTION 8.02 Rescission 109 SECTION 8.03 Application of Proceeds 110 SECTION 8.04 Borrower’s Right to Cure 111

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 . 122 Section 6.10 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 123 Section 6.11 Business 124 Section 6.12 [reserved] 124 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 124 Section 6.14 No Further Negative Pledge 72 SECTION 6.18 124 Section 6.15 Financial Covenants 125 Section 6.16 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE Laundering; Sanctions; Anti-Corruption Law 125 Section 6.17 Sanctioned Persons 125 Article VII GUARANTEE SECTION 126 Section 7.01 The Guarantee 73 SECTION 126 Section 7.02 Obligations Unconditional 73 SECTION 126 Section 7.03 Reinstatement 75 SECTION 127 Section 7.04 Subrogation; Subordination 75 SECTION 127 Section 7.05 Remedies 75 SECTION 127 Section 7.06 Instrument for the Payment of Money 75 SECTION 127 Section 7.07 Continuing Guarantee 75 SECTION 127 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 127 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 127 Section 7.10 Right of Contribution 76129 Section 7.11 Keepwell 130 Article VIII EVENTS OF DEFAULT 130 Section 8.01 Events of Default 130 Section 8.02 [reserved] 133 Section 8.03 Right to Cure 134 Article IX APPLICATION OF COLLATERAL PROCEEDS 135 Section 9.01 Collateral Account 135 Section 9.02 Application of Proceeds 135 Article X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 136 Section 10.01 Appointment 136 Section 10.02 Agent in Its Individual Capacity 137 Section 10.03 Exculpatory Provisions; Agent Acting at Direction of Required Lenders 137 Section 10.04 Reliance by Agent 138 Section 10.05 Delegation of Duties 138 Section 10.06 Successor Agent 138 Section 10.07 Non-Reliance on Agent and Other Lenders 139 Section 10.08 Name Agents 139 Section 10.09 Indemnification 139 Section 10.10 Withholding Taxes 140 Section 10.11 Lender’s Representations, Warranties and Acknowledgements 140 Section 10.12 Collateral Documents and Guarantee 140

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 121 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 122 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION Stock. 123 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION Business 123 Section 6.15 Business 71 SECTION [Reserved] 123 Section 6.16 Fiscal Year 72 SECTION Periods 123 Section 6.17 No Further Negative Pledge 72 SECTION 124 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 124 Section 6.19 Limitation Embargoed Person 124 Section 6.20 Restrictions on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION Chartering, etc. 124 Section 6.21 Swap Agreements 73 SECTION Additional Holdings Covenants 124 Section 6.22 LTB as Passive Holding Company 73 Amended Reorganization Plan and Confirmation Order 125 ARTICLE VII GUARANTEE SECTION VIIGUARANTEE 125 Section 7.01 The Guarantee 73 SECTION 125 Section 7.02 Obligations Unconditional 73 SECTION 125 Section 7.03 Reinstatement 75 SECTION 126 Section 7.04 Subrogation; Subordination 75 SECTION 126 Section 7.05 Remedies 75 SECTION 126 Section 7.06 Instrument for the Payment of Money 75 SECTION 127 Section 7.07 Continuing Guarantee 75 SECTION 127 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 127 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 127 Section 7.10 Right of Contribution 76127 Section 7.11 Keepwell 128 ARTICLE VIIIEVENTS OF DEFAULT 128 Section 8.01 Events of Default 128 Section 8.02 Rescission 131 ARTICLE IXAPPLICATION OF COLLATERAL PROCEEDS 131 Section 9.01 Application of Proceeds 131 ARTICLE XTHE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 132 Section 10.01 Appointment 132 Section 10.02 Agent in Its Individual Capacity 133 Section 10.03 Exculpatory Provisions 133 Section 10.04 Reliance by Agent 134 Section 10.05 Delegation of Duties 134 Section 10.06 Successor Agent 134 Section 10.07 Non-Reliance on Agent and Other Lenders 135 Section 10.08 Name Agents 135 Section 10.09 Indemnification 135 Section 10.10 Withholding Taxes 136 Section 10.11 Lender’s Representations, Warranties and Acknowledgements 136 Section 10.12 Security Documents and Guarantees. 137 Section 10.13 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 138 Section 10.14 Ship Mortgage Trust 139 Section 10.15 Intercreditor Agreement 139 ARTICLE XIMISCELLANEOUS 139 Section 11.01 Notices. 139 Section 11.02 Waivers; Amendment 142 Section 11.03 Expenses; Indemnity 144 Section 11.04 Successors and Assigns 147 Section 11.05 Survival of Agreement 150 Section 11.06 Counterparts; Integration; Effectiveness 151 Section 11.07 Severability 151 Section 11.08 Right of Setoff; Marshalling; Payments Set Aside 151 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 151 Section 11.10 Waiver of Jury Trial 152 Section 11.11 Headings 152 Section 11.12 Confidentiality 153 Section 11.13 Interest Rate Limitation 154 Section 11.14 Assignment and Acceptance 154 Section 11.15 Obligations Absolute 154 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 154 Section 11.17 Patriot Act 155 Section 11.18 Bank Product Providers 155 Section 11.19 EXCLUDED SWAP OBLIGATIONS 156 Section 11.20 OTHER LIENS ON COLLATERAL; TERMS OF INTERCREDITOR AGREEMENT; ETC. 156 Annex I — Initial Lenders and Commitments SCHEDULES Schedule 1.01(a) — Vessels Schedule 1.01(b) — Approved Classification Societies Schedule 1.01(c) — [Reserved] Schedule 1.01(d) — Foreign Customers Schedule 1.01(e) — [Reserved] Schedule 1.01(f) — Mortgaged Property Schedule 1.01(g) — Subsidiary Guarantors Schedule 1.01(h) — Indebtedness to be Refinanced Schedule 1.01 (i) — Unrestricted Subsidiaries Schedule 3.05(b) — Real Property Schedule 3.07(a) — Equity Interests Schedule 3.07(c) — Corporate Organizational Chart Schedule 3.07(d) — Immaterial Subsidiaries Schedule 3.14 — Taxes Schedule 3.20 — Insurance Schedule 5.15 — Post-Closing Matters Schedule 6.01(c) — Existing Indebtedness Schedule 6.02(c) — Existing Liens Schedule 6.04(b) — Existing Investments Schedule 6.09(e) — Certain Affiliate Transactions Schedule 6.09(f) — Certain Affiliate Transactions – Intercompany Claims EXHIBITS Exhibit A — Form of Assignment and Acceptance Exhibit B — Form of Borrowing Request Exhibit C — Form of Compliance Certificate Exhibit D — Form of Intercompany Subordination Agreement Exhibit E — Form of Interest Election Request Exhibit F — Form of Intercreditor Agreement Exhibit G — Form of Auction Procedures Exhibit H — Form of Note Exhibit I — Form of Perfection Certificate Exhibit J-1 — Form of Security Agreement Exhibit J-2 — Form of Holdings Pledge Agreement Exhibit K — Form of Portfolio Interest Certificate Exhibit L — Form of Solvency Certificate Exhibit M — Form of Bank Product Provider Letter Agreement Exhibit N — [Reserved] Exhibit O — Form of Joinder Agreement Exhibit P — Form of Quiet Enjoyment Agreement Exhibit Q-1 — Form of Term Loan Priority Collateral Vessel Mortgage Exhibit Q-2 — Form of ABL Priority Collateral Vessel Mortgage This TERM LOAN CREDIT AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”), dated as of August 5, 2014, is among Overseas Shipholding Group, Inc., a Delaware corporation (“Holdings”), OSG Bulk Ships, Inc., a New York corporation (the “Borrower”), the other Guarantors from time to time party hereto, the Lenders from time to time party hereto, Jefferies Finance LLC, Barclays Bank PLC and UBS Securities LLC, as joint lead arrangers and joint book running managers (in such capacity, the “Arrangers”), Jefferies Finance LLC, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), Barclays Bank PLC and UBS Securities LLC, as co-documentation agents (in such capacity, the “Documentation Agents”), Jefferies Finance LLC, as syndication agent (in such capacity, the “Syndication Agent”), and Jefferies Finance LLC, as collateral agent and mortgage trustee for the Secured Parties (in such capacity, the “Collateral Agent” or the “Mortgage Trustee” as the context requires).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 94 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 94 SECTION 6.13 Limitation on Issuance of Capital Stock 71 95 SECTION 6.14 Limitation on Creation of Subsidiaries 71 95 SECTION 6.15 Business 71 95 SECTION 6.16 Limitation on Accounting Changes 96 SECTION 6.17 Fiscal Year 72 96 SECTION 6.17 6.18 [Intentionally Omitted] 96 SECTION 6.19 No Further Negative Pledge 72 96 SECTION 6.18 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 96 SECTION 6.19 6.21 Embargoed Person 97 SECTION 6.22 Limitation on Use Finance Subsidiary 97 SECTION 6.23 Preservation of Stock Proceeds to Prepay Loans 72 Claims Under the Korean Opco Guarantees 97 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE 6.24 Liens on Deposit Accounts and Available Cash 97 SECTION 7.01 The Guarantee 73 98 SECTION 7.02 Obligations Unconditional 73 98 SECTION 7.03 Reinstatement 75 99 SECTION 7.04 Subrogation; Subordination 75 Subrogation 99 SECTION 7.05 Remedies 75 99 SECTION 7.06 Instrument for the Payment of Money 75 100 SECTION 7.07 Continuing Guarantee 75 100 SECTION 7.08 General Limitation on Guarantee Obligations 75 100 SECTION 7.09 Release of Guarantors 100 SECTION 7.10 Provisions Applicable to Certain Guarantees 100 SECTION 8.01 Events of Default 100 SECTION 8.02 Application of Proceeds 103 SECTION 9.01 Appointment and Authority 104 SECTION 9.02 Rights as a Lender 104 SECTION 9.03 Exculpatory Provisions 105 SECTION 9.04 Reliance by Agent 105 SECTION 9.05 Delegation of Duties 106 SECTION 9.06 Resignation of Agent 106 SECTION 9.07 Non-Reliance on Agent and Other Lenders 106 SECTION 9.08 No Other Duties, etc 107 SECTION 10.01 Notices 107 SECTION 10.02 Waivers; Amendment 109 SECTION 10.03 Expenses; Indemnity; Damage Waiver 112 SECTION 10.04 Successors and Assigns. 113 SECTION 10.05 Survival of Agreement 116 SECTION 10.06 Counterparts; Integration; Effectiveness; Electronic Execution 116 SECTION 10.07 Severability 116 SECTION 10.08 Right of Setoff 117 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 117 SECTION 10.10 Waiver of Jury Trial 118 SECTION 10.11 Obligations Joint and Several 118 SECTION 10.12 Headings 118 SECTION 10.13 Treatment of Certain Information; Confidentiality 118 SECTION 10.14 USA PATRIOT Act Notice 119 SECTION 10.15 Interest Rate Limitation 119 SECTION 10.16 Lender Addendum 119 SECTION 10.17 Obligations Absolute 119 SECTION 10.18 Judgment Currency 120 Annex I Applicable Margin Schedule 1.01(a) Korean Opco Security Documents Schedule 1.01(b) Material Indebtedness Schedule 1.01(c) Refinancing Indebtedness to Be Repaid Schedule 1.01(d) Subsidiary Guarantors 75 SECTION 7.10 Right Schedule 2.17 Existing Letters of Contribution 76Credit Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.05(b) Real Property Schedule 3.06(b) Intellectual Property Registrations Schedule 3.06(c) Violations or Proceedings Schedule 3.07(a) Equity Interests Schedule 3.07(c) Corporate Organizational Chart Schedule 3.18 Environmental Matters Schedule 3.19 Insurance Schedule 4.01(g) Local Counsel Schedule 4.01(n) Intercompany Loan Documents Schedule 4.01(o)(iii) Title Insurance Amounts Schedule 4.01(r)(i) Korean Opco Guarantee Schedule 5.13 Post-Closing Matters Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J [Intentionally Omitted] Exhibit K-1 Form of Revolving Note Exhibit K-2 Form of Swingline Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M Form of Security Agreement Exhibit N Form of Opinion of Company Counsel Exhibit O Form of Solvency Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of December 23, 2004, among MAGNACHIP SEMICONDUCTOR S.A., a société anonyme, organized and existing under the laws of the Grand Duchy of Luxembourg, having its registered office at 10, xxx xx Xxxxxxx, X-0000 Xxxxxxxxxx, Grand Duchy of Luxembourg, registered with the Luxembourg Register of commerce and companies under the number B 97,483, MAGNACHIP SEMICONDUCTOR FINANCE COMPANY, a Delaware corporation (collectively, “Borrowers”), MAGNACHIP SEMICONDUCTOR LLC, a Delaware limited liability company (“Holdings”), the Subsidiary Guarantors listed on the signature pages hereto (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, UBS SECURITIES LLC, as lead arranger (in such capacity, “Arranger”), as documentation agent (in such capacity, “Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), and KOREA EXCHANGE BANK, as issuing bank (in such capacity, “Issuing Bank”), UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties and the Issuing Bank.

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION etc 86 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 86 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 87 Section 6.14 Business 87 Section 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Accounting Changes 87 Section 6.16 Fiscal Year 72 SECTION Periods 87 Section 6.17 No Further Negative Pledge 72 SECTION 87 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 88 Section 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Person 88 ARTICLE VII GUARANTEE SECTION 7.01 The Guarantee 73 SECTION 7.02 RESERVED 89 ARTICLE VIII EVENTS OF DEFAULT 89 Section 8.01 Events of Default 89 Section 8.02 Rescission 92 ARTICLE IX THE ADMINISTRATIVE AGENT 92 Section 9.01 Appointment 92 Section 9.02 Agent in Its Individual Capacity 92 Section 9.03 Exculpatory Provisions 93 Section 9.04 Reliance by Agent 93 Section 9.05 Delegation of Duties 94 Section 9.06 Successor Agent 94 Section 9.07 Non-Reliance on Agent and Other Lenders 95 Section 9.08 Name Agents 95 Section 9.09 Indemnification 95 Section 9.10 Withholding Taxes 96 Section 9.11 Lender’s Representations, Warranties and Acknowledgements 96 Section 9.12 Reserved 96 Section 9.13 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 96 ARTICLE X MISCELLANEOUS 97 Section 10.01 Notices 97 Section 10.02 Waivers; Amendment 100 Section 10.03 Expenses; Indemnity; Damage Waiver 102 Section 10.04 Successors and Assigns 104 Section 10.05 Survival of Agreement 110 Section 10.06 Counterparts; Integration; Effectiveness 110 Section 10.07 Severability 111 Section 10.08 Right of Setoff; Marshalling; Payments Set Aside 111 Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process 112 Section 10.10 Waiver of Jury Trial 112 Section 10.11 Headings 113 Section 10.12 Confidentiality 113 Section 10.13 Interest Rate Limitation 114 Section 10.14 Assignment and Assumption 114 Section 10.15 Obligations Unconditional 73 SECTION 7.03 Reinstatement 75 SECTION 7.04 SubrogationAbsolute 114 Section 10.16 Waiver of Defenses; Subordination 75 SECTION 7.05 Remedies 75 SECTION 7.06 Instrument Absence of Fiduciary Duties 115 Section 10.17 USA Patriot Act 115 Section 10.18 Certain Transactions 115 ANNEXES Annex I Initial Lenders and Commitments Schedule 1.01(a) Acquisition Documents Schedule 1.01(e) Immaterial Subsidiaries Schedule 3.07(a) Subsidiaries Schedule 3.19 Insurance Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Schedule 6.13 Xxxxxx Stock Plans and Stock Agreements Exhibit A Form of Assignment and Assumption Exhibit B Form of Borrowing Request Exhibit C Form of Compliance Certificate Exhibit D Reserved Exhibit E Form of Interest Election Request Exhibit F Reserved Exhibit G Reserved Exhibit H Reserved Exhibit I Form of Term Note Exhibit J Reserved Exhibit K Reserved Exhibit L Form of U.S. Tax Compliance Certificate Exhibit M Form of Solvency Certificate Exhibit N Form of Opinion of Borrower’s Special Counsel This CREDIT AGREEMENT (this “Agreement”) dated as of September 8, 2014, among HC2 Holdings, Inc., a Delaware corporation (“Borrower”), the Lenders (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), Jefferies Finance LLC, as lead arranger (in such capacity, the “Arranger”), as book manager (in such capacity, the “Book Manager”), as documentation agent for the Payment of Money 75 SECTION 7.07 Continuing Guarantee 75 SECTION 7.08 General Limitation on Guarantee Obligations 75 SECTION 7.09 Release of Subsidiary Guarantors 75 SECTION 7.10 Right of Contribution 76Lenders (in such capacity, the “Documentation Agent”) and as syndication agent for the Lenders (in such capacity, the “Syndication Agent”), and Jefferies Finance LLC, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION etc 92 ​ Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 92 ​ Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 93 ​ Section 6.14 Limitation on Creation Business 93 ​ Section 6.15 Operation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Collateral Vessels 93 ​ Section 6.16 Fiscal Year 72 SECTION Periods 94 ​ Section 6.17 No Further Negative Pledge 72 SECTION 94 ​ Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 94 ​ Section 6.19 Limitation Embargoed Person 94 ​ Section 6.20 Restrictions on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION Chartering 94 ​ Section 6.21 Swap Agreements 73 SECTION Additional Covenants 95 ​ Section 6.22 LTB as Passive Holding Company 73 ARTICLE Employee Benefits 95 Article VII GUARANTEE SECTION 95 ​ Section 7.01 The Guarantee 73 SECTION 95 ​ Section 7.02 Obligations Unconditional 73 SECTION 95 ​ Section 7.03 Reinstatement 75 SECTION 96 ​ Section 7.04 Subrogation; Subordination 75 SECTION 96 ​ Section 7.05 Remedies 75 SECTION 97 ​ Section 7.06 Instrument for the Payment of Money 75 SECTION 97 ​ Section 7.07 Continuing Guarantee 75 SECTION 97 ​ Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 97 ​ Section 7.09 Release of Subsidiary Guarantors 75 SECTION 97 ​ Section 7.10 Right of Contribution 7698 ​ Section 7.11 Keepwell 98 Article VIII EVENTS OF DEFAULT 98 ​ Section 8.01 Events of Default 98 ​ Section 8.02 Rescission 101 Article IX APPLICATION OF COLLATERAL PROCEEDS 101 ​ Section 9.01 Application of Proceeds 101 Article X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 103 ​ Section 10.01 Appointment 103 ​ Section 10.02 Agent in Its Individual Capacity 103 ​ Section 10.03 Exculpatory Provisions 104 ​ Section 10.04 Reliance by Agent 105 ​ Section 10.05 Delegation of Duties 106 ​ Section 10.06 Successor Agent 106 ​ ​

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 88 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 89 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 89 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION 90 Section 6.15 Business 71 SECTION 90 Section 6.16 Limitation on Accounting Changes 90 Section 6.17 Fiscal Year 72 SECTION 6.17 90 Section 6.18 Operating Lease Obligations 90 Section 6.19 No Further Negative Pledge 72 SECTION 6.18 90 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 91 Section 6.21 Swap Agreements 73 SECTION Embargoed Person 91 Section 6.22 LTB as Passive Holding Company 73 Health Care Matters 91 Section 6.23 Certain Fees and Payments 91 ARTICLE VII VII. GUARANTEE SECTION 92 Section 7.01 The Guarantee 73 SECTION 92 Section 7.02 Obligations Unconditional 73 SECTION 92 Section 7.03 Reinstatement 75 SECTION 93 Section 7.04 Subrogation; Subordination 75 SECTION 93 Section 7.05 Remedies 75 SECTION 93 Section 7.06 Instrument for the Payment of Money 75 SECTION 94 Section 7.07 Continuing Guarantee 75 SECTION 94 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 94 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 94 Section 7.10 Right of Contribution 7694 ARTICLE VIII. EVENTS OF DEFAULT 95 Section 8.01 Events of Default 95 ARTICLE IX. COLLATERAL ACCOUNT; APPLICATION OF COLLATERAL PROCEEDS 98 Section 9.01 Collateral Account 98 Section 9.02 Application of Proceeds 98 ARTICLE X. THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 99 Section 10.01 Appointment 99 Section 10.02 Agent in Its Individual Capacity 100 Section 10.03 Exculpatory Provisions 100 Section 10.04 Reliance by Agent 100 Section 10.05 Delegation of Duties 101 Section 10.06 Successor Agent 101 Section 10.07 Non-Reliance on Agent and Other Lenders 101 Section 10.08 Name Agents 101 Section 10.09 Indemnification 101 ARTICLE XI. MISCELLANEOUS 102 Section 11.01 Notices 102 Section 11.02 Waivers; Amendment 103 Section 11.03 Expenses; Indemnity 104 Section 11.04 Successors and Assigns 106 Section 11.05 Survival of Agreement 109 Section 11.06 Counterparts; Integration; Effectiveness 110 Section 11.07 Severability 110 Section 11.08 Right of Setoff 110

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 94 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 95 SECTION 6.13 Limitation on Issuance of Capital Stock 71 96 SECTION 6.14 Business 96 SECTION 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 Accounting Changes 96 SECTION 6.16 Fiscal Year 72 96 SECTION 6.17 No Further Negative Pledge 72 96 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 97 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Embargoed Person 97 SECTION 7.01 The Guarantee 73 98 SECTION 7.02 Obligations Unconditional 73 98 SECTION 7.03 Reinstatement 75 99 SECTION 7.04 Subrogation; Subordination 75 99 SECTION 7.05 Remedies 75 99 SECTION 7.06 Instrument for the Payment of Money 75 100 SECTION 7.07 Continuing Guarantee 75 100 SECTION 7.08 General Limitation on Guarantee Obligations 75 100 SECTION 7.09 Release of Subsidiary Guarantors 75 SECTION 7.10 Right of Contribution 76100 SECTION 8.01 Events of Default 100 SECTION 8.02 Rescission 103 SECTION 8.03 Application of Proceeds 103 SECTION 9.01 Appointment and Authority 104 SECTION 9.02 Rights as a Lender 104 SECTION 9.03 Exculpatory Provisions 105 SECTION 9.04 Reliance by Agent 106 SECTION 9.05 Delegation of Duties 106 SECTION 9.06 Resignation of Agent 106 SECTION 9.07 Non-Reliance on Agent and Other Lenders 107 SECTION 9.08 No Other Duties, etc 107 SECTION 10.01 Notices 107 SECTION 10.02 Waivers; Amendment 110 SECTION 10.03 Expenses; Indemnity; Damage Waiver 112 SECTION 10.04 Successors and Assigns 114 SECTION 10.05 Survival of Agreement 117 SECTION 10.06 Counterparts; Integration; Effectiveness 117 SECTION 10.07 Severability 117 SECTION 10.08 Right of Setoff 117 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 118 SECTION 10.10 Waiver of Jury Trial 118 SECTION 10.11 Headings 119 SECTION 10.12 Treatment of Certain Information; Confidentiality 119 SECTION 10.13 USA PATRIOT Act Notice 119 SECTION 10.14 Interest Rate Limitation 120 SECTION 10.15 Lender Addendum 120 SECTION 10.16 Obligations Absolute 120 SECTION 10.17 Enforcement 120 SECTION 10.18 Additional Loans 121 SECTION 10.19 CFC Subsidiary 121 Annex I Applicable Margin Schedule 1.01 Refinancing Indebtedness to Be Repaid Schedule 2.19 Accounts and Lockboxes Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.06(a) No Claims Schedule 3.06(b) Violations or Proceedings Schedule 3.07 Equity Interests and Subsidiaries Schedule 3.09 Material Agreements Schedule 3.18 Environmental Matters Schedule 3.19 Insurance Schedule 3.22 Location of Material Inventory Schedule 4.01(g) Local Counsel Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(a) Existing Investments Schedule 6.11 Proposed Amendments to Organizational Documents Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Inventory Reclamation Waiver Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J-1 Form of Revolving Note Exhibit J-2 Form of Swingline Note Exhibit K-1 Form of Perfection Certificate Exhibit K-2 Form of Perfection Certificate Supplement Exhibit L Form of Security Agreement Exhibit M-1 Form of Opinion of Company Counsel Exhibit M-2 Form of Opinion of Local Counsel Exhibit N Form of Solvency Certificate Exhibit O Form of Intercompany Note Exhibit P Form of Non-Bank Certificate Exhibit Q Form of Borrowing Base Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of May 30, 2008, among VERASUN ENERGY CORPORATION, a South Dakota corporation, as Borrower Representative (“Borrower Representative”), VERASUN FORT DODGE, LLC a Delaware limited liability company (“VeraSun Fort Dodge”), VERASUN XXXXXXX, LLC a Delaware limited liability company (“VeraSun Xxxxxxx”), VERASUN WELCOME, LLC a Delaware limited liability company (“VeraSun Welcome”), VERASUN XXXXXXX CITY, LLC a Delaware limited liability company (“VeraSun Xxxxxxx City”), VERASUN AURORA CORPORATION a South Dakota corporation (“VeraSun Aurora”), VERASUN MARKETING, LLC a Delaware limited liability company (“VeraSun Marketing” and together with Borrower Representative, VeraSun Fort Dodge, VeraSun Xxxxxxx, VeraSun Welcome, VeraSun Xxxxxxx City and VeraSun Aurora, “Borrowers” and each, individually, a “Borrower”), the Lenders (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), UBS SECURITIES LLC, as lead arranger (in such capacity, “Arranger”), as documentation agent (in such capacity, “Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”) and UBS AG, STAMFORD BRANCH, as issuing bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and the Secured Parties and as co-collateral agent (in such capacity, together with any other Lender appointed as a co-collateral agent, each a “Co-Collateral Agent”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 85 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 85 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 86 Section 6.14 Business 86 Section 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Accounting Changes 86 Section 6.16 Fiscal Year 72 SECTION Periods 86 Section 6.17 No Further Negative Pledge 72 SECTION 86 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 87 Section 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE Embargoed Person 87 Article VII GUARANTEE SECTION Section 7.01 The Guarantee 73 SECTION 87 Section 7.02 Obligations Unconditional 73 SECTION 87 Section 7.03 Reinstatement 75 SECTION 88 Section 7.04 Subrogation; Subordination 75 SECTION 88 Section 7.05 Remedies 75 SECTION 88 Section 7.06 Instrument for the Payment of Money 75 SECTION 89 Section 7.07 Continuing Guarantee 75 SECTION 89 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 89 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 89 Section 7.10 Right of Contribution 7689 Section 7.11 Keepwell 89 Article VIII EVENTS OF DEFAULT Section 8.01 Events of Default 90 Section 8.02 Rescission 91 Article IX APPLICATION OF COLLATERAL PROCEEDS Section 9.01 Application of Proceeds 92 Article X THE ADMINISTRATIVE AGENT AND THE Co-COLLATERAL AGENTs Section 10.01 Appointment/Actions by Co-Collateral Agents 93 Section 10.02 Agents in their Individual Capacity 93 Section 10.03 Exculpatory Provisions 93 Section 10.04 Reliance by Agent 94 Section 10.05 Delegation of Duties 94 Section 10.06 Successor Agent 95 Section 10.07 Non-Reliance on Agent and Other Lenders 95 Section 10.08 Name Agents 95 Section 10.09 Indemnification 95 Section 10.10 Withholding Taxes 96 Section 10.11 Lender’s Representations, Warranties and Acknowledgements 96 Section 10.12 Security Documents and Guarantees 96 Section 10.13 Agent May File Bankruptcy Disclosure and Proofs of Claim 97 Article XI MISCELLANEOUS Section 11.01 Notices 98 Section 11.02 Waivers; Amendment 101 Section 11.03 Expenses; Indemnity 103 Section 11.04 Successors and Assigns 104 Section 11.05 Survival of Agreement 107 Section 11.06 Counterparts; Integration; Effectiveness 107 Section 11.07 Severability 107 Section 11.08 Right of Setoff; Marshalling; Payments Set Aside 107 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 108 Section 11.10 Waiver of Jury Trial 108 Section 11.11 Headings 108 Section 11.12 Confidentiality 109 Section 11.13 Interest Rate Limitation 109 Section 11.14 Assignment and Acceptance 109 Section 11.15 Obligations Absolute 109 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 110 Section 11.17 Patriot Act 110 Section 11.18 Bank Product Providers 110 Section 11.19 Excluded Swap Obligations 111 Section 11.20 Amendment and Restatement; No Novation 111 Section 11.21 Acknowledgment of Prior Obligations and Continuation Thereof 111 Annex I -- Initial Lenders and Commitments SCHEDULES Schedule 1.01(b) -- Co-Borrowers Schedule 1.01(c) -- Pledgors Schedule 1.01(d) -- Subsidiary Guarantors Schedule 1.01(e) -- Refinancing Indebtedness Schedule 1.01(f) Unrestricted Subsidiaries Schedule 1.01(g) -- Equipment Schedule Schedule 3.04(a) -- Financial Information Schedule 3.05(b) -- Real Property Schedule 3.07(a) -- Equity Interests Schedule 3.07(c) -- Corporate Organizational Chart Schedule 3.07(d) -- Immaterial Subsidiaries Schedule 3.20 -- Insurance Schedule 4.01(g) -- Local Counsel Schedule 6.01(c) -- Existing Indebtedness Schedule 6.02(c) -- Existing Liens Schedule 6.04(b) -- Existing Investments EXHIBITS Exhibit A -- Form of Assignment and Acceptance Exhibit B -- Form of Borrowing Request Exhibit C -- Form of Compliance Certificate Exhibit D -- Form of Intercompany Note Exhibit E -- Form of Interest Election Request Exhibit F -- [Reserved] Exhibit G -- Form of LC Request Exhibit H-1 -- Form of Revolving Note Exhibit H-2 -- Form of Swingline Note Exhibit I-1 -- Form of Perfection Certificate Exhibit I-2 -- Form of Perfection Certificate Supplement Exhibit J -- Form of Security Agreement Exhibit K -- Form of Portfolio Interest Certificate Exhibit L -- Form of Solvency Certificate Exhibit M -- Form of Bank Product Provider Letter Agreement Exhibit N-1 -- Form of Closing Borrowing Certificate Exhibit N-2 -- Form of Borrowing Base Certificate Exhibit O -- Form of Joinder Agreement This AMENDED AND RESTATED CREDIT AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”), dated as of August 17, 2015 is among Lxxxx Xxxxxxxxxxx Company, a Delaware corporation (the “Administrative Borrower”), each Co-Borrower (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Guarantors, the Lenders from time to time party hereto, Jefferies Finance LLC, as lead arranger and book running manager (in such capacity, the “Arranger”), Jefferies Finance LLC, as syndication agent (in such capacity, the “Syndication Agent”), PNC Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Agent”), PNC Bank, National Association and Wxxxx Fargo Bank, N.A., as co-collateral agents for the Lenders (in such capacity, the “Co-Collateral Agents”), PNC Bank, National Association, as swingline lender (in such capacity, the “Swingline Lender”), and PNC Bank, National Association, as issuing bank for the Lenders (in such capacity, an “Issuing Bank”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 78 SECTION 6.12 6.11 Limitation on Certain Restrictions on Subsidiaries 70 79 SECTION 6.13 6.12 Limitation on Issuance of Capital Stock 71 79 SECTION 6.14 6.13 Limitation on Creation of Subsidiaries 71 80 SECTION 6.14 Business 80 SECTION 6.15 Business 71 Limitation on Accounting Changes 80 SECTION 6.16 Fiscal Year 72 80 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE 80 SECTION 7.01 The Guarantee 73 81 SECTION 7.02 Obligations Unconditional 73 81 SECTION 7.03 Reinstatement 75 82 SECTION 7.04 Subrogation; Subordination 75 82 SECTION 7.05 Remedies 75 82 SECTION 7.06 Instrument for the Payment of Money 75 [Reserved] 82 SECTION 7.07 Continuing Guarantee 75 82 SECTION 7.08 General Limitation on Guarantee Obligations 75 83 SECTION 7.09 Release of Subsidiary Guarantors 75 83 SECTION 7.10 Right of Contribution 7683 SECTION 8.01 Events of Default 83 SECTION 8.02 Rescission 86 SECTION 8.03 Application of Proceeds 86 SECTION 9.01 Appointment and Authority 87 SECTION 9.02 Rights as a Lender 87 SECTION 9.03 Exculpatory Provisions 87 SECTION 9.04 Reliance by Agent 88 SECTION 9.05 Delegation of Duties 88 SECTION 9.06 Resignation of Agent 89 SECTION 9.07 Non-Reliance on Agent and Other Lenders 89 SECTION 9.08 No Other Duties, etc 89 SECTION 10.01 Notices 90 SECTION 10.02 Waivers; Amendment 92 SECTION 10.03 Expenses; Indemnity; Damage Waiver 95 SECTION 10.04 Successors and Assigns 97 SECTION 10.05 Survival of Agreement 99 SECTION 10.06 Counterparts; Integration; Effectiveness 99

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 etc 93 Section 6.13 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 94 Section 6.14 Limitation on Issuance of Capital Stock 71 SECTION 6.14 95 Section 6.15 Business 95 Section 6.16 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Accounting Changes 95 Section 6.17 Fiscal Year 72 SECTION 6.17 95 Section 6.18 No Further Negative Pledge 72 SECTION 6.18 95 Section 6.19 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 96 Section 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Person 96 ARTICLE VII GUARANTEE SECTION 96 Section 7.01 The Guarantee 73 SECTION 96 Section 7.02 Obligations Unconditional 73 SECTION 97 Section 7.03 Reinstatement 75 SECTION 98 Section 7.04 Subrogation; Subordination 75 SECTION 98 Section 7.05 Remedies 75 SECTION 98 Section 7.06 Instrument for the Payment of Money 75 SECTION 98 Section 7.07 Continuing Guarantee 75 SECTION 98 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 98 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 99 Section 7.10 Right of Contribution 7699 Section 7.11 Keepwell 99 ARTICLE VIII EVENTS OF DEFAULT 100 Section 8.01 Events of Default 100 Section 8.02 Rescission 102 Section 8.03 Equity Cure 103 Section 8.04 Application of Proceeds 104 ARTICLE IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 105 Section 9.01 Appointment 105 Section 9.02 Agent in Its Individual Capacity 105 Section 9.03 Exculpatory Provisions 105 Section 9.04 Reliance by Agent 106 Section 9.05 Delegation of Duties 106 Section 9.06 Successor Agent 107 Section 9.07 Non-Reliance on Agent and Other Lenders 107 Section 9.08 Named Agents 107 Section 9.09 Indemnification 107 Section 9.10 Withholding Taxes 108 Section 9.11 Lender’s Representations, Warranties and Acknowledgements 108 Section 9.12 Collateral Documents and Guarantee 109 Section 9.13 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 110 ARTICLE X MISCELLANEOUS 111 Section 10.01 Notices 111 Section 10.02 Waivers; Amendment 113 Section 10.03 Expenses; Indemnity; Damage Waiver 115 Section 10.04 Successors and Assigns 117 Section 10.05 Survival of Agreement 121 Section 10.06 Counterparts; Integration; Effectiveness 122 Section 10.07 Severability 122 Section 10.08 Right of Setoff; Marshalling; Payments Set Aside 122 Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process 122 Section 10.10 Waiver of Jury Trial 123 Section 10.11 Headings 123 Section 10.12 Confidentiality 124 Section 10.13 Interest Rate Limitation 124 Section 10.14 Assignment and Assumption 125 Section 10.15 Obligations Absolute 125 Section 10.16 Waiver of Defenses; Absence of Fiduciary Duties 125

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 . 129 Section 6.11 Limitation on Certain Restrictions on Restricted Subsidiaries 70 SECTION 6.13 131 Section 6.12 Limitation on Issuance of Capital Stock 71 SECTION 132 Section 6.13 Business 132 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION Accounting Changes 133 Section 6.15 Business 71 SECTION Fiscal Periods 133 Section 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 133 Section 6.17 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 133 Section 6.18 Sanctions 133 Section 6.19 Limitation on Use Jurisdiction of Stock Proceeds to Prepay Loans 72 SECTION Employment 134 Section 6.20 Availability Under First Lien Credit Agreement 72 SECTION Financial Covenant 134 Section 6.21 Swap Agreements 73 SECTION Minimum Liquidity Condition 134 Section 6.22 LTB as Passive Holding Company 73 Collateral Rig Market Values 134 ARTICLE VII GUARANTEE SECTION 134 Section 7.01 The Guarantee 73 SECTION 134 Section 7.02 Obligations Unconditional 73 SECTION Unconditional. 135 Section 7.03 Reinstatement 75 SECTION 136 Section 7.04 Subrogation; Subordination 75 SECTION 136 Section 7.05 Remedies 75 SECTION 136 Section 7.06 Instrument for the Payment of Money 75 SECTION 136 Section 7.07 Continuing Guarantee 75 SECTION 136 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION Obligations. 136 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 137 Section 7.10 Right of Contribution 76137 ARTICLE VIII EVENTS OF DEFAULT 137 Section 8.01 Events of Default 137 Section 8.02 Rescission 140 Section 8.03 Right to Cure 140 ARTICLE IX APPLICATION OF COLLATERAL PROCEEDS 141 Section 9.01 Application of Proceeds 141 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 142 Section 10.01 Appointment 142 Section 10.02 Rights as a Lender 143 Section 10.03 Exculpatory Provisions 143 Section 10.04 Reliance by Agent 144 Section 10.05 Delegation of Duties 144 Section 10.06 Successor Agent 144 Section 10.07 Non-Reliance on Agent and Other Lenders 145 Section 10.08 Name Agents 145 Section 10.09 Indemnification 145 Section 10.10 Administrative Agent May File Proof of Claims 146 Section 10.11 Lender Action 146 Section 10.12 Trust Property 147 ARTICLE XI MISCELLANEOUS 147 Section 11.01 Notices 147 Section 11.02 Waivers; Amendment 150 Section 11.03 Expenses; Indemnity; Damage Waiver 152 Section 11.04 Successors and Assigns 155 Section 11.05 Survival of Agreement 158 Section 11.06 Counterparts; Integration; Effectiveness 159 Section 11.07 Severability 159 Section 11.08 Right of Setoff 159 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process; Consent to Arbitration 159 Section 11.10 Waiver of Jury Trial 161 Section 11.11 Headings; No Adverse Interpretation of Other Agreements 162 Section 11.12 Confidentiality 162 Section 11.13 Interest Rate Limitation 162 Section 11.14 Assignment and Acceptance 163 Section 11.15 Obligations Absolute 163 Section 11.16 Waiver of Defenses 163 Section 11.17 Judgment Currency 163 Section 11.18 USA Patriot Act 164 Section 11.19 Waiver of Sovereign Immunity 164 Section 11.20 No Fiduciary Duty 164

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.. 103 SECTION 6.10. Transactions with Affiliates 104 SECTION 6.11. Sale and Leaseback Transactions 105 SECTION 6.12. Swap Agreements 105 SECTION 6.13. Changes in Fiscal Periods 105 SECTION 6.14. Restrictive Agreements 105 SECTION 6.15. Lines of Business 106 SECTION 6.16. Immaterial Subsidiaries 106 SECTION 7.01. Events of Default 106 SECTION 7.02. Remedies upon Event of Default 108 SECTION 7.03. Application of Funds 109 SECTION 9.01. Notices 112 SECTION 9.02. Waivers; Limitation on Overadvances 70 Amendments 113 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 9.03. Expenses; Indemnity; Damage Waiver 116 SECTION 6.13 Limitation on Issuance 9.04. Successors and Assigns 117 SECTION 9.05. Survival 120 SECTION 9.06. Counterparts; Integration; Effectiveness 121 SECTION 9.07. Severability 121 SECTION 9.08. Right of Capital Stock 71 Setoff 121 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 Anti-Terrorism 9.09. Governing Law; Anti-Money Laundering 72 Jurisdiction; Consent to Service of Process 121 SECTION 6.19 9.10. WAIVER OF JURY TRIAL 122 SECTION 9.11. Headings 122 SECTION 9.12. Confidentiality 122 SECTION 9.13. Interest Rate Limitation on Use 123 SECTION 9.14. USA PATRIOT Act 123 SECTION 9.15. Judgment Currency 123 SECTION 9.16. Special Provisions Relating to Currencies Other Than Dollars 124 SECTION 9.17. Dollar Equivalent Calculations 124 SCHEDULES: Schedule 2.01 – Commitments Schedule 3.03 – Approvals Schedule 3.05 – Intellectual Property Schedule 3.06 – Disclosed Matters Schedule 3.07 – Environmental Matters Schedule 3.10 – Tax Claims Schedule 3.14 – Labor Matters Schedule 3.15(a) – Subsidiaries Schedule 3.15(b) – Immaterial Subsidiaries Schedule 3.17(a) – Filing Offices Schedule 6.02 – Existing Indebtedness Schedule 6.03 – Existing Liens Schedule 6.05 – Permitted Asset Sales Schedule 6.08(h) – Existing Investments Schedule 6.10 – Affiliate Transactions Schedule 6.14 – Existing Restrictions Schedule 9.04(b) – Competitors EXHIBITS: Exhibit A – Form of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Administrative Questionnaire Exhibit B – Form of Assignment and Assumption Exhibit C – Form of Compliance Certificate Exhibit D – Form of Security Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB Exhibit E – Form of US Tax Certificate Exhibit F – Form of Opinion of Borrower’s Counsel CREDIT AGREEMENT dated as Passive Holding Company 73 ARTICLE VII GUARANTEE SECTION 7.01 The Guarantee 73 SECTION 7.02 Obligations Unconditional 73 SECTION 7.03 Reinstatement 75 SECTION 7.04 Subrogation; Subordination 75 SECTION 7.05 Remedies 75 SECTION 7.06 Instrument for of June 27, 2011, among VALASSIS COMMUNICATIONS, INC., a Delaware corporation (the Payment of Money 75 SECTION 7.07 Continuing Guarantee 75 SECTION 7.08 General Limitation on Guarantee Obligations 75 SECTION 7.09 Release of Subsidiary Guarantors 75 SECTION 7.10 Right of Contribution 76“Borrower”), the LENDERS party hereto, JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, the “Administrative Agent”), and X.X. XXXXXX SECURITIES LLC., XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX INCORPORATED and RBS SECURITIES INC., as joint bookrunners and joint lead arrangers (in such capacities, collectively, the “Joint Lead Arrangers”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 103 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 103 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 104 Section 6.14 Business 104 Section 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Accounting Changes 104 Section 6.16 Fiscal Year 72 SECTION Periods 104 Section 6.17 No Further Negative Pledge 72 SECTION 104 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 105 Section 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE Embargoed Person 105 Article VII GUARANTEE SECTION 105 Section 7.01 The Guarantee 73 SECTION 105 Section 7.02 Obligations Unconditional 73 SECTION 106 Section 7.03 Reinstatement 75 SECTION 107 Section 7.04 Subrogation; Subordination 75 SECTION 107 Section 7.05 Remedies 75 SECTION 107 Section 7.06 Instrument for the Payment of Money 75 SECTION 107 Section 7.07 Continuing Guarantee 75 SECTION 107 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 107 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 107 Section 7.10 Right of Contribution 76108 Section 7.11 Keepwell 108 3293443.10 Article VIII EVENTS OF DEFAULT 108 Section 8.01 Events of Default 108 Section 8.02 Rescission 110 Article IX APPLICATION OF COLLATERAL PROCEEDS 111 Section 9.01 Application of Proceeds 111 Article X THE ADMINISTRATIVE AGENT AND THE Co-COLLATERAL AGENTs 112 Section 10.01 Appointment/Actions by Co-Collateral Agents 112 Section 10.02 Agents in their Individual Capacity 113 Section 10.03 Exculpatory Provisions 113 Section 10.04 Reliance by Agent 114 Section 10.05 Delegation of Duties 114 Section 10.06 Successor Agent 114 Section 10.07 Non-Reliance on Agent and Other Lenders 115 Section 10.08 Name Agents 115 Section 10.09 Indemnification 115 Section 10.10 Withholding Taxes 116 Section 10.11 Lender’s Representations, Warranties and Acknowledgements 116 Section 10.12 Security Documents and Guarantees 116 Section 10.13 Agent May File Bankruptcy Disclosure and Proofs of Claim 117 Article XI MISCELLANEOUS 118 Section 11.01 Notices 118 Section 11.02 Waivers; Amendment 122 Section 11.03 Expenses; Indemnity 124 Section 11.04 Successors and Assigns 126 Section 11.05 Survival of Agreement 129 Section 11.06 Counterparts; Integration; Effectiveness 130 Section 11.07 Severability 130 Section 11.08 Right of Setoff; Marshalling; Payments Set Aside 130 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 130 Section 11.10 Waiver of Jury Trial 131 Section 11.11 Headings 131 Section 11.12 Confidentiality 131 Section 11.13 Interest Rate Limitation 132 Section 11.14 Assignment and Acceptance 132 Section 11.15 Obligations Absolute 132 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 133 Section 11.17 Patriot Act 133 Section 11.18 Bank Product Providers 133 Section 11.19 Excluded Swap Obligations 134 Section 11.20 Amendment and Restatement; No Novation 134 Section 11.21 Acknowledgment of Prior Obligations and Continuation Thereof 134 3293443.10 Annex I -- Initial Lenders and Commitments SCHEDULES Schedule 1.01(b) -- Co-Borrowers Schedule 1.01(c) -- Pledgors Schedule 1.01(d) -- Subsidiary Guarantors Schedule 1.01(e) -- Refinancing Indebtedness Schedule 1.01(f) Unrestricted Subsidiaries Schedule 1.01(g) -- Equipment Schedule Schedule 3.04(a) -- Financial Information Schedule 3.05(b) -- Real Property Schedule 3.07(a) -- Equity Interests Schedule 3.07(c) -- Corporate Organizational Chart Schedule 3.07(d) -- Immaterial Subsidiaries Schedule 3.20 -- Insurance Schedule 4.01(g) -- Local Counsel Schedule 6.01(c) -- Existing Indebtedness Schedule 6.02(c) -- Existing Liens Schedule 6.04(b) -- Existing Investments Exhibit A -- Form of Assignment and Acceptance Exhibit B -- Form of Borrowing Request Exhibit C -- Form of Compliance Certificate Exhibit D -- Form of Intercompany Note Exhibit E -- Form of Interest Election Request Exhibit F -- [Reserved] Exhibit G -- Form of LC Request Exhibit H-1 -- Form of Revolving Note Exhibit H-2 -- Form of Swingline Note Exhibit I-1 -- Form of Perfection Certificate Exhibit I-2 -- Form of Perfection Certificate Supplement Exhibit J -- Form of Security Agreement Exhibit K -- Form of Portfolio Interest Certificate Exhibit L -- Form of Solvency Certificate Exhibit M -- Form of Bank Product Provider Letter Agreement Exhibit N-1 -- Form of Closing Borrowing Certificate Exhibit N-2 -- Form of Borrowing Base Certificate Exhibit O -- Form of Joinder Agreement 3293443.10 This AMENDED AND RESTATED CREDIT AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”), dated as of June [__], 2015 is among Xxxxx Xxxxxxxxxxx Company, a Delaware corporation (the “Administrative Borrower”), each Co-Borrower (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Guarantors, the Lenders from time to time party hereto, Jefferies Finance LLC, as lead arranger and book running manager (in such capacity, the “Arranger”), Jefferies Finance LLC, as syndication agent (in such capacity, the “Syndication Agent”), PNC Bank, National Association, as administrative agent for the Lenders (in such capacity, the “Agent”), PNC Bank, National Association and Xxxxx Fargo Bank, N.A., as co-collateral agents for the Lenders (in such capacity, the “Co-Collateral Agents”), PNC Bank, National Association, as swingline lender (in such capacity, the “Swingline Lender”), and PNC Bank, National Association, as issuing bank for the Lenders (in such capacity, an “Issuing Bank”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 SECTION . 240 Section 6.12 Limitation on Certain Restrictions on Restricted Subsidiaries 70 SECTION 242 Section 6.13 Issuance of Disqualified Capital Stock 244 Section 6.14 Senior Secured Net Leverage Ratio 244 Section 6.15 Business 244 Section 6.16 Limitation on Issuance of Capital Stock 71 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Accounting Changes 245 Section 6.17 Fiscal Year 72 SECTION 6.17 245 Section 6.18 Margin Rules 245 Section 6.19 No Further Negative Pledge 72 SECTION 6.18 246 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 247 Section 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Persons 247 ARTICLE VII GUARANTEE SECTION 247 Section 7.01 The Guarantee 73 SECTION 247 Section 7.02 Obligations Unconditional 73 SECTION 249 Section 7.03 Reinstatement 75 SECTION 250 Section 7.04 Subrogation; Subordination 75 SECTION 250 Section 7.05 Remedies 75 SECTION 251 Section 7.06 Instrument for the Payment of Money 75 SECTION 251 Section 7.07 Continuing Guarantee 75 SECTION 251 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 251 Section 7.09 Release of Guarantors 251 Section 7.10 Certain Tax Matters 252 Section 7.11 German Guarantor 252 Section 7.12 Swiss Guarantors 255 Section 7.13 Irish Guarantor 256 Section 7.14 Brazilian Guarantor 256 Section 7.15 French Guarantor. 256 Section 7.16 Belgian Guarantor 257 Section 7.17 Keepwell 257 ARTICLE VIII EVENTS OF DEFAULT 257 Section 8.01 Events of Default 257 Section 8.02 Rescission 261 Section 8.03 Application of Proceeds 261 Section 8.04 Designated Company’s Right to Cure 263 ARTICLE IX [INTENTIONALLY OMITTED] 264 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 264 Section 10.01 Appointment and Authority 264 Section 10.02 Rights as a Lender 264 Section 10.03 Exculpatory Provisions 264 Section 10.04 Reliance by the Administrative Agent 266 Section 10.05 Delegation of Duties 267 Section 10.06 Resignation of Agent 267 Section 10.07 Non-Reliance on Agent and Other Lenders 268 Section 10.08 No Other Duties, etc 268 Section 10.09 Administrative Agent May File Proofs of Claim 268 Section 10.10 Concerning the Collateral and the Related Loan Documents 269 Section 10.11 Release 269 Section 10.12 Acknowledgment of Security Trust Deed 269 Section 10.13 Secured Hedging Agreements 270 ARTICLE XI MISCELLANEOUS 270 Section 11.01 Notices 270 Section 11.02 Waivers; Cumulative Remedies; Amendment 274 Section 11.03 Expenses; Indemnity; Damage Waiver 281 Section 11.04 Successors and Assigns 284 Section 11.05 Survival of Agreement 291 Section 11.06 Counterparts; Integration; Effectiveness 291 Section 11.07 Severability 291 Section 11.08 Right of Setoff 292 SECTION 11.09 GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS 292 SECTION 11.10 WAIVER OF JURY TRIAL 293 Section 11.11 Headings 294 Section 11.12 Treatment of Certain Information; Confidentiality 294 Section 11.13 USA PATRIOT Act Notice 295 Section 11.14 Interest Rate Limitation 295 Section 11.15 Singapore Personal Data Protection Act 295 Section 11.16 Obligations Absolute 296 Section 11.17 Intercreditor Agreement 296 Section 11.18 Judgment Currency 297 Section 11.19 Enforcement 297 Section 11.20 No Advisory or Fiduciary Responsibility 298 Section 11.21 Abstract Acknowledgment of Indebtedness and Joint Creditorship 298 Section 11.22 Special Appointment of Collateral Agent for German Security 299 Section 11.23 Special Appointment of Collateral Agent in Relation to South Korea 301 Section 11.24 Special Appointment of Collateral Agent in Relation to France 301 Section 11.25 Swiss Tax Ruling 302 Section 11.26 Designation of Collateral Agent under Civil Code of Quebec 302 Section 11.27 Maximum Liability 303 Section 11.28 NO ORAL AGREEMENT 303 Section 11.29 Collateral Matters 303 Section 11.30 Electronic Execution of Assignments and Certain other Documents 305 Section 11.31 Payments Set Aside 305 Section 11.32 Acknowledgement and Consent to Bail-In of Affected Financial Institutions 306 Section 11.33 Lender Consents and Acknowledgements 306 Section 11.34 Termination 308 Section 11.35 Lender Authorizations 308 Section 11.36 Dutch Parallel Debt in Relation to the Dutch Security Agreements 308 Section 11.37 Special Appointment of Collateral Agent in Relation to Belgium 309 Section 11.38 Lender Exculpation 310 Section 11.39 Acknowledgement Regarding Any Supported QFCs 310 Annex I Amortization Table Schedule 1.01(a) Term Loan Commitments Schedule 1.01(b) Subsidiary Guarantors 75 SECTION 7.10 Right Schedule 1.01(c) Excluded Collateral Subsidiaries Schedule 1.01(d) Existing Secured Hedge Providers Schedule 1.01(e) Administrative Agent’s Office Schedule 3.06(c) Violations or Proceedings Schedule 3.17 Pension Matters Schedule 3.19 Insurance Schedule 3.21 Material Documents Schedule 3.24 Location of Contribution 76Material Inventory Schedule 4.02(g) Local and Foreign Counsel Schedule 5.11(b) Certain Subsidiaries Schedule 5.15 Post-Closing Covenants Schedule 5.15-1 Title Insurance Amounts Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H-1 Form of U.S. Tax Compliance Certificate Exhibit H-2 Form of U.S. Tax Compliance Certificate Exhibit H-3 Form of U.S. Tax Compliance Certificate Exhibit H-4 Form of U.S. Tax Compliance Certificate Exhibit I Form of Escrow Drawdown Request Exhibit J Form of Mortgage Exhibit K Form of Term Loan Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M [Intentionally Omitted] Exhibit N [Intentionally Omitted] Exhibit O Form of Solvency Certificate Exhibit P Form of Intercompany Note Exhibit Q Form of Secured Hedge Provider Joinder This CREDIT AGREEMENT (as amended as of September 14, 2017, as of November 20, 2018, as of December 18, 2018, as of February 21, 2020, as of August 25, 2020, and as further, dated as of January 10, 2017 (as amended, restated, amended and restated, supplemented or modified, the “Agreement”), dated as of January 10, 2017, is among NOVELIS INC., a corporation amalgamated under the Canada Business Corporations Act and having its corporate office at Two Alliance Center, 0000 Xxxxx Xxxx, Xxxxx 0000, Xxxxxxx, XX 00000, XXX, as borrower (in such capacity, and together with its successors in such capacity, the “Borrower”), AV METALS INC., a corporation formed under the Canada Business Corporations Act and having its corporate office at Two Alliance Center, 0000 Xxxxx Xxxx, Xxxxx 0000, Xxxxxxx, XX 00000, XXX, the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, and Standard Chartered Bank, being a company incorporated in England by Royal Charter 1853, with reference number ZC18 and whose registered office is 0 Xxxxxxxxxx Xxxxxx, Xxxxxx XX0X 0XX, as administrative agent (in such capacity, and together with its successors in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, and together with its successors in such capacity, “Collateral Agent”) for the Lenders.

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness and Other Documents, etc.; Limitation on Overadvances 70 67 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 Restrictive Agreements 68 SECTION 6.13 Limitation on Issuance of Capital Stock 71 Fiscal Year 68 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 69 SECTION 6.19 6.15 Limitation on Use of Stock Proceeds to Prepay Loans 72 69 SECTION 6.20 6.16 Availability Under First Lien Credit Agreement 72 69 SECTION 6.21 6.17 Swap Agreements 73 69 SECTION 6.22 6.18 LTB as Passive Holding Company 73 ARTICLE VII 69 SECTION 6.19 First Lien Secured Obligations 70 GUARANTEE 70 SECTION 7.01 The Loan Party Guarantee 73 70 SECTION 7.02 Obligations Unconditional 73 71 SECTION 7.03 Reinstatement 75 71 SECTION 7.04 Subrogation; Subordination 75 72 SECTION 7.05 Remedies 75 72 SECTION 7.06 Instrument for the Payment of Money 75 72 SECTION 7.07 Continuing Guarantee 75 72 SECTION 7.08 General Limitation on Guarantee Obligations 75 72 SECTION 7.09 Release of Subsidiary Guarantors 75 73 SECTION 7.10 Right of Contribution 7673 EVENTS OF DEFAULT 73 SECTION 8.01 Events of Default 73 SECTION 8.02 Rescission 76 SECTION 8.03 Application of Proceeds 76 THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 77 SECTION 9.01 Appointment and Authority 77 Section Page SECTION 9.02 Rights as a Lender 77 SECTION 9.03 Exculpatory Provisions 77 SECTION 9.04 Reliance by Agent 78 SECTION 9.05 Delegation of Duties 78 SECTION 9.06 Resignation of Agent 79 SECTION 9.07 Non-Reliance on Agent and Other Lenders 79 SECTION 9.08 [Reserved] 79 MISCELLANEOUS 80 SECTION 10.01 Notices 80 SECTION 10.02 Waivers; Amendment 82 SECTION 10.03 Expenses; Indemnity; Damage Waiver 84 SECTION 10.04 Successors and Assigns 86 SECTION 10.05 Survival of Agreement 88 SECTION 10.06 Counterparts; Integration; Effectiveness 88 SECTION 10.07 Severability 89 SECTION 10.08 Right of Setoff 89 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 89 SECTION 10.10 Waiver of Jury Trial 90 SECTION 10.11 Headings 90 SECTION 10.12 Treatment of Certain Information; Confidentiality 90 SECTION 10.13 USA PATRIOT Act Notice 91 SECTION 10.14 Interest Rate Limitation 91 SECTION 10.15 Post Closing Requirements 91 Schedule 1.01(a) Effective Date Commitments Schedule 1.01(b) Subsidiary Guarantors Schedule 3.05 Properties Schedule 3.06 Disclosed Matters Schedule 3.14 Insurance Schedule 3.15 Capitalization and Subsidiaries Schedule 3.22 Environmental Matters Schedule 6.01 Existing Indebtedness Schedule 6.02 Existing Liens Schedule 6.04 Existing Investments Schedule 6.12 Existing Restrictions Exhibit A Form of Assignment and Assumption Exhibit B Form of Compliance Certificate Exhibit C Form of Interest Election Request Exhibit D Form of Joinder Agreement Exhibit E List of Closing Documents Exhibit F Form of Note Exhibit G Form of Security Agreement Exhibit H Form of Opinion of Company Counsel Exhibit I Form of Opinion of Mexico Local Counsel Exhibit J Form of Intercompany Note Exhibits X0-X0 Xxxx xx Xxxxxx Xxxxxx Tax Compliance Certificates Exhibit L Form of Intercreditor Agreement This SENIOR SECURED CREDIT AGREEMENT (this “Agreement”), dated as of July 27, 2012, among LIFETIME BRANDS, INC., a Delaware corporation (“Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, and JPMORGAN CHASE BANK, N.A., as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties.

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 111 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 111 SECTION 6.13 Limitation on Issuance of Capital Stock 71 112 SECTION 6.14 Limitation on Creation of Subsidiaries 71 112 SECTION 6.15 Business 71 112 SECTION 6.16 Limitation on Accounting Changes 113 SECTION 6.17 Fiscal Year 72 113 SECTION 6.17 6.18 Lease Obligations 113 SECTION 6.19 No Further Negative Pledge 72 113 SECTION 6.18 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 113 SECTION 6.21 Swap Agreements 73 Embargoed Person 114 SECTION 6.22 LTB as Passive Holding Company 73 Holdings 114 ARTICLE VII VII. GUARANTEE 114 SECTION 7.01 The Guarantee 73 114 SECTION 7.02 Obligations Unconditional 73 115 SECTION 7.03 Reinstatement 75 116 SECTION 7.04 Subrogation; Subordination 75 116 SECTION 7.05 Remedies 75 116 SECTION 7.06 Instrument for the Payment of Money 75 116 SECTION 7.07 Continuing Guarantee 75 116 SECTION 7.08 General Limitation on Guarantee Obligations 75 116 SECTION 7.09 Release of Subsidiary Guarantors 75 117 SECTION 7.10 Right Foreign Guarantor Limitations 117 ARTICLE VIII. EVENTS OF DEFAULT 117 SECTION 8.01 Events of Contribution 76Default 117 SECTION 8.02 Rescission 120 SECTION 8.03 Application of Proceeds 120 ARTICLE IX. THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 122 SECTION 9.01 Appointment and Authority 122 SECTION 9.02 Rights as a Lender 123 SECTION 9.03 Exculpatory Provisions 123 SECTION 9.04 Reliance by Agent 124 SECTION 9.05 Delegation of Duties 124 SECTION 9.06 Resignation of Agent 125 SECTION 9.07 Non-Reliance on Agent and Other Lenders 125

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 . 118 Section 6.12. Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 119 Section 6.13. Limitation on Issuance of Capital Stock 71 SECTION 6.14 119 Section 6.14. Limitation on Creation of Subsidiaries 71 SECTION 6.15 120 Section 6.15. Business 71 SECTION 6.16 120 Section 6.16. Limitation on Accounting Changes 120 Section 6.17. Fiscal Year 72 SECTION 6.17 120 Section 6.18. No Further Negative Pledge 72 SECTION 6.18 120 Section 6.19. Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 121 Section 6.20. Embargoed Person 121 ARTICLE VII VII. GUARANTEE SECTION 7.01 121 Section 7.01. The Guarantee 73 SECTION 7.02 121 Section 7.02. Obligations Unconditional 73 SECTION 7.03 122 Section 7.03. Reinstatement 75 SECTION 7.04 123 Section 7.04. Subrogation; Subordination 75 SECTION 7.05 123 Section 7.05. Remedies 75 SECTION 7.06 123 Section 7.06. Instrument for the Payment of Money 75 SECTION 7.07 123 Section 7.07. Continuing Guarantee 75 SECTION 7.08 123 Section 7.08. General Limitation on Guarantee Obligations 75 SECTION 7.09 123 Section 7.09. Release of Guarantors 124 ARTICLE VIII. EVENTS OF DEFAULT 124 Section 8.01. Events of Default 124 Section 8.02. Rescission 126 Section 8.03. Application of Proceeds 127 ARTICLE IX. COLLATERAL ACCOUNT; APPLICATION OF COLLATERAL PROCEEDS 127 Section 9.01. Collateral Accounts 128 Section 9.02. Accounts; Cash Management 128 Section 9.03. Inventory 131 Section 9.04. Borrowing Base-Related Reports 132 Section 9.05. Rescission of Activation Notice 133 ARTICLE X. THE ADMINISTRATIVE AGENTS AND THE COLLATERAL AGENTS 133 Section 10.01. Appointment and Authority 133 Section 10.02. Rights as a Lender 134 Section 10.03. Exculpatory Provisions. 134 Section 10.04. Reliance by Agent 135 Section 10.05. Delegation of Duties 135 Section 10.06. Resignation of Agent 135 Section 10.07. Non-Reliance on Agent and Other Lenders 136 Section 10.08. No Other Duties, etc 136 Section 10.09. Indemnification 136 Section 10.10. Overadvances 137 Section 10.11. Concerning the Collateral and the Related Loan Documents 137 Section 10.12. Field Audit, Examination Reports and Other Reports 137 ARTICLE XI. MISCELLANEOUS 138 Section 11.01. Notices 138 Section 11.02. Waivers; Amendment 141 Section 11.03. Expenses; Indemnity; Damage Waiver 144 Section 11.04. Successors and Assigns 146 Section 11.05. Survival of Agreement 148 Section 11.06. Counterparts; Integration; Effectiveness; Electronic Execution 148 Section 11.07. Severability 149 Section 11.08. Right of Setoff 149 Section 11.09. Governing Law; Jurisdiction; Consent to Service of Process 149 Section 11.10. Waiver of Jury Trial 150 Section 11.11. Headings 150 Section 11.12. Treatment of Certain Information; Confidentiality 150 Section 11.13. USA PATRIOT Act Notice 151 Section 11.14. Interest Rate Limitation 151 Section 11.15. Lender Addendum 151 Section 11.16. Obligations Absolute 151 Section 11.17. Dollar Equivalent Calculations 152 Section 11.18. Judgment Currency 152 Section 11.19. Special Provisions Relating to Currencies Other Than Dollars 153 Section 11.20. Intercreditor Agreement 153 Annex I Applicable Margin SCHEDULES Schedule 1.01(a) Refinancing Indebtedness to Be Repaid Schedule 1.01(b) Subsidiary Guarantors 75 SECTION 7.10 Right Schedule 1.01(c) Existing Letters of Contribution 76Credit Schedule 1.01(d) Existing Lender Letters of Credit Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.09 Material Agreements Schedule 3.19 Insurance Schedule 3.21 Acquisition Documents Schedule 3.24 Location of Material Inventory Schedule 4.01(g) Local Counsel Schedule 5.14 Post-Closing Matters Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Schedule 9.02 Accounts and Lockboxes EXHIBITS Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J [Intentionally Deleted] Exhibit K-1 Form of Revolving Note Exhibit K-2 Form of Canadian Revolving Note Exhibit K-3 Form of US Swingline Note Exhibit K-4 Form of Canadian Swingline Note Exhibit K-5 Form of Discount Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M-1 Form of US Security Agreement Exhibit M-2 Form of Canadian Security Agreement Exhibit N Form of Opinion of Company Counsel Exhibit O Form of Solvency Certificate Exhibit P Form of Intercompany Note Exhibit Q Form of Non-Bank Certificate Exhibit R Form of Intercreditor Agreement Exhibit S Form of Borrowing Base Certificate v CREDIT AGREEMENT This CREDIT AGREEMENT (this "Agreement") dated as of February 14, 2006 is among LINENS 'N THINGS, INC., a Delaware corporation ("LNT") and LINENS 'N THINGS CENTER, INC., a California corporation ("LNT Center" and together with LNT the "US Borrowers" and each individually a "US Borrower"), LINENS 'N THINGS CANADA CORP., a Nova Scotia corporation ("Canadian Borrower" and together with US Borrowers, the "Borrowers"); LINENS HOLDING CO., a Delaware corporation ("Holdings"); the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I); the Lenders; UBS SECURITIES LLC ("UBSS"), as lead arranger (in such capacity, "Arranger") and as documentation agent (in such capacity, "Documentation Agent"); UBS LOAN FINANCE LLC ("UBS"), as US swingline lender (in such capacity, "US Swingline Lender"); BEAR, XXXXXXX & CO. INC. ("Bear Xxxxxxx"), as co-syndication agent (in such capacity, "Syndication Agent"); UBS AG, STAMFORD BRANCH, as an issuing bank, as US administrative agent (in such capacity, "US Administrative Agent") for the Lenders and as US co-collateral agent (in such capacity, the "US Co-Collateral Agent") for the Secured Parties and the Issuing Bank; UBS AG CANADA BRANCH, as Canadian co-collateral agent (in such capacity, the "Canadian Co-Collateral Agent") for the Secured Parties and the Issuing Bank; WACHOVIA BANK, NATIONAL ASSOCIATION, as US co-collateral agent (together with US Co-Collateral Agent, the "US Collateral Agents") for the Secured Parties and the Issuing Bank and as an issuing bank; WACHOVIA CAPITAL FINANCE CORPORATION (CANADA), as Canadian administrative agent (in such capacity, the "Canadian Administrative Agent" together with the US Administrative Agent, the "Administrative Agents") for the Lenders, as Canadian co-collateral agent (together with Canadian Co-Collateral Agent, the "Canadian Collateral Agents"; the US Collateral Agents and the Canadian Collateral Agents are collectively referred to herein as the "Collateral Agents") for the Secured Parties and the Issuing Bank, as an issuing bank, and as Canadian swingline lender (in such capacity, "Canadian Swingline Lender" and together with US Swingline Lender, the "Swingline Lenders").

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION etc 108 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 109 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 109 Section 6.14 Business 110 Section 6.15 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Accounting Changes 110 Section 6.16 Fiscal Year 72 SECTION Periods 110 Section 6.17 No Further Negative Pledge 72 SECTION 110 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 110 Section 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Person 111 ARTICLE VII GUARANTEE SECTION 111 Section 7.01 The Guarantee 73 SECTION 111 Section 7.02 Obligations Unconditional 73 SECTION 111 Section 7.03 Reinstatement 75 SECTION 113 Section 7.04 Subrogation; Subordination 75 SECTION 113 Section 7.05 Remedies 75 SECTION 113 Section 7.06 Instrument for the Payment of Money 75 SECTION 113 Section 7.07 Continuing Guarantee 75 SECTION 113 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 113 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 114 Section 7.10 Right of Contribution 76114 Section 7.11 Qualified ECP Guarantors 114 ARTICLE VIII EVENTS OF DEFAULT 114 Section 8.01 Events of Default 114 Section 8.02 Rescission 117 Section 8.03 [Reserved] 118 Section 8.04 Application of Proceeds 118 ARTICLE IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 119 Section 9.01 Appointment 119 Section 9.02 Agent in Its Individual Capacity 119 Section 9.03 Exculpatory Provisions 120 Section 9.04 Reliance by Agent 120 Section 9.05 Delegation of Duties 121 Section 9.06 Successor Agent 121 Section 9.07 Non-Reliance on Agent and Other Lenders 121 Section 9.08 Name Agents 122 Section 9.09 Indemnification 122 Section 9.10 [Reserved] 122 Section 9.11 Lender Action 122 Section 9.12 Withholding Taxes 123 Section 9.13 Lender’s Representations, Warranties and Acknowledgements 123 Section 9.14 Security Documents and Guarantee 123 Section 9.15 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 125 ARTICLE X MISCELLANEOUS 126 Section 10.01 Notices 126 Section 10.02 Waivers; Amendment 128 Section 10.03 Expenses; Indemnity; Damage Waiver 131 Section 10.04 Successors and Assigns 134 Section 10.05 Survival of Agreement 138 Section 10.06 Counterparts; Integration; Effectiveness 138 Section 10.07 Severability 138 Section 10.08 Right of Setoff; Marshalling; Payments Set Aside 138 Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process 139 Section 10.10 Waiver of Jury Trial 140 Section 10.11 Headings 140 Section 10.12 Confidentiality 140 Section 10.13 Interest Rate Limitation 141 Section 10.14 Assignment and Assumption 141 Section 10.15 Obligations Absolute 141 Section 10.16 Waiver of Defenses; Absence of Fiduciary Duties 141 Section 10.17 Reinstatement 142 Section 10.18 USA Patriot Act 142 ANNEXES Annex I Initial Lenders and Commitments Annex II Applicable Margins Schedule 1.01(b) Subsidiary Guarantors Schedule 1.01(c) Pledgors

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 90 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 90 SECTION 6.13 Limitation on Issuance of Capital Stock 71 [Reserved.] 91 SECTION 6.14 Limitation on Creation of Subsidiaries 71 [Reserved.] 91 SECTION 6.15 Business 71 91 SECTION 6.16 Limitation on Accounting Changes 91 SECTION 6.17 Fiscal Year 72 91 SECTION 6.17 6.18 No Further Negative Pledge 72 91 SECTION 6.18 6.19 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 92 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Embargoed Person 92 SECTION 7.01 The Guarantee 73 93 SECTION 7.02 Obligations Unconditional 73 93 SECTION 7.03 Reinstatement 75 94 SECTION 7.04 Subrogation; Subordination 75 94 SECTION 7.05 Remedies 75 94 SECTION 7.06 Instrument for the Payment of Money 75 95 SECTION 7.07 Continuing Guarantee 75 95 SECTION 7.08 General Limitation on Guarantee Obligations 75 95 SECTION 7.09 Release of Subsidiary Guarantors 75 95 SECTION 7.10 Right of Contribution 7695 SECTION 8.01 Events of Default 96 SECTION 8.02 Rescission 98 SECTION 8.03 Application of Proceeds 98 SECTION 9.01 Appointment and Authority 99 SECTION 9.02 Rights as a Lender 99 SECTION 9.03 Exculpatory Provisions 99 SECTION 9.04 Reliance by Agent 100 SECTION 9.05 Delegation of Duties 101

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 75 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 76 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 76 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION 77 Section 6.15 Business 71 SECTION 77 Section 6.16 Limitation on Accounting Changes 77 Section 6.17 Fiscal Year 72 SECTION 6.17 Periods 77 Section 6.18 [Reserved.] 77 Section 6.19 No Further Negative Pledge 72 SECTION 6.18 77 Section 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use 77 Section 6.21 Embargoed Person 78 Section 6.22 No Other Series of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Priority Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Debt 78 ARTICLE VII GUARANTEE SECTION 78 Section 7.01 The Guarantee 73 SECTION 78 Section 7.02 Obligations Unconditional 73 SECTION 78 Section 7.03 Reinstatement 75 SECTION 80 Section 7.04 Subrogation; Subordination 75 SECTION 80 Section 7.05 Remedies 75 SECTION 80 Section 7.06 Instrument for the Payment of Money 75 SECTION 80 Section 7.07 Continuing Guarantee 75 SECTION 80 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 80 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 80 Section 7.10 Right of Contribution 7681 Section 7.11 Holdings Not a Guarantor 81 ARTICLE VIII EVENTS OF DEFAULT 81 Section 8.01 Events of Default 81 Section 8.02 Rescission 84 ARTICLE IX APPLICATION OF COLLATERAL PROCEEDS 85 Section 9.01 Collateral Documents 85 Section 9.02 Application of Proceeds 85 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 86 Section 10.01 Appointment 86 Section 10.02 Agent in Its Individual Capacity 87 Section 10.03 Exculpatory Provisions 87 Section 10.04 Reliance by Agent 87 Section 10.05 Delegation of Duties 88 Section 10.06 Successor Agent 88 Section 10.07 Non-Reliance on Agent and Other Lenders 88 Section 10.08 Name Agents 89 Section 10.09 Indemnification 89 Section 10.10 Concerning the Collateral Agent 89 Section 10.11 Force Majeure 89 ARTICLE XI MISCELLANEOUS 90 Section 11.01 Notices 90 Section 11.02 Waivers; Amendment 91 Section 11.03 Expenses; Indemnity; Damage Waiver 93 Section 11.04 Successors and Assigns 95 Section 11.05 Survival of Agreement 99 Section 11.06 Counterparts; Integration; Effectiveness 99 Section 11.07 Severability 99 Section 11.08 Right of Setoff 99 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 100 Section 11.10 Waiver of Jury Trial 100 Section 11.11 Headings; No Adverse Interpretation of Other Agreements 101 Section 11.12 Confidentiality 101 Section 11.13 Interest Rate Limitation 101 Section 11.14 Assignment and Acceptance 102 Section 11.15 Obligations Absolute 102 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 102 Section 11.17 USA Patriot Act 102 Section 11.18 Judgment Currency 102 Section 11.19 Collateral Trust Agreement Matters 103 Section 11.20 Limitation on Loans 104 Section 11.21 LEGEND 104 Annex I Initial Lenders and Commitments Schedule 1.01(a) Material Indebtedness Schedule 1.01(b) Subsidiary Guarantors Schedule 1.01(c) Pledgors Schedule 1.01(d) Auction Rate Securities Schedule 3.05(b) Properties Schedule 3.06(b) Patents; Registrations

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 etc 101 Section 6.12. Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 Limitation on Issuance of Capital Stock 71 SECTION 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 103 Section 6.13. No Further Negative Pledge 72 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 104 Section 6.14. Business 104 Section 6.15. Amendments to Organizational Documents 104 Section 6.16. Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Accounting Changes 104 Section 6.17. Fiscal Periods 104 ARTICLE VII GUARANTEE SECTION 7.01 105 Section 7.01. The Guarantee 73 SECTION 7.02 105 Section 7.02. Obligations Unconditional 73 SECTION 7.03 105 Section 7.03. Reinstatement 75 SECTION 7.04 106 Section 7.04. Subrogation; Subordination 75 SECTION 7.05 106 Section 7.05. Remedies 75 SECTION 7.06 107 Section 7.06. Instrument for the Payment of Money 75 SECTION 7.07 107 Section 7.07. Continuing Guarantee 75 SECTION 7.08 107 Section 7.08. General Limitation on Guarantee Obligations 75 SECTION 7.09 107 Section 7.09. Release of Subsidiary Guarantors 75 SECTION 7.10 107 Section 7.10. Right of Contribution 76108 ARTICLE VIII EVENTS OF DEFAULT 108 Section 8.01. Events of Default 108 Section 8.02. [RESERVED] 111 Section 8.03. Borrower’s Right to Cure 111 ARTICLE IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 112 Section 9.01. Appointment 112 Section 9.02. Agent in Its Individual Capacity 113 Section 9.03. Exculpatory Provisions 113 Section 9.04. Reliance by Agent 114 Section 9.05. Delegation of Duties 114 Section 9.06. Successor Agent 115 Section 9.07. Indemnification 116 Section 9.08. Withholding Taxes 117 Section 9.09. [RESERVED] 117 Section 9.10. Lenders’ Representations, Warranties and Acknowledgment 117 Section 9.11. Collateral Documents and Guaranty. 118 Section 9.12. Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 120 Section 9.13. No Other Duties Etc 120 ARTICLE X MISCELLANEOUS 121 Section 10.01. Notices. 121 Section 10.02. Waivers; Amendment 122 Section 10.03. Expenses; Indemnity; Damage Waiver 126 Section 10.04. Successors and Assigns 128 Section 10.05. Survival of Agreement 137 Section 10.06. Counterparts; Integration; Effectiveness 137 Section 10.07. Severability 137 Section 10.08. Right of Setoff 137 Section 10.09. Governing Law; Jurisdiction; Consent to Service of Process 138 Section 10.10. Waiver of Jury Trial 139 Section 10.11. Headings 139 Section 10.12. Confidentiality 139 Section 10.13. Interest Rate Limitation 140 Section 10.14. Assignment Agreement 140 Section 10.15. Obligations Absolute 141 Section 10.16. Waiver of Defenses; Absence of Fiduciary Duties 141 Section 10.17. USA Patriot Act 142 Section 10.18. [RESERVED] 142 Section 10.19. Concerning the ABL Facility 142 Annex I Initial Lenders and Commitments Annex II Initial Lender Addresses Schedule 1.01(a) Material Indebtedness Schedule 3.05(b) Owned and Leased Property Schedule 3.06 Intellectual Property Matters Schedule 3.07(a) Subsidiaries Schedule 3.16 Environmental Matters Schedule 5.11(d) Real Property Collateral Matters Schedule 5.14 Post-Closing Items Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Assignment Agreement Exhibit B Form of Funding Notice Exhibit C Form of Compliance Certificate Exhibit D Form of Intercompany Note Exhibit E Form of Conversion/Continuation Notice Exhibit F United States Tax Compliance Certificate Exhibit G Form of Note Exhibit H Form of Security Agreement Exhibit J Form of Solvency Certificate Exhibit K Form of Guarantee Joinder Agreement Exhibit L Form of ABL Intercreditor Agreement [Exhibits H and L have been omitted as these have been separately filed as exhibits to the Form S-1]. This CREDIT AGREEMENT (this “Agreement”), dated as of May 16, 2012 by and among Five Below, Inc., a Pennsylvania corporation (the “Borrower”), the Guarantors party hereto from time to time, the Lenders, and Xxxxxxx Xxxxx Bank USA (“Xxxxxxx Sachs”), Barclays Bank PLC and Jefferies Finance LLC, as Lead Arrangers and as Lead Bookrunners, Xxxxxxx Sachs as Administrative Agent for the Lenders (in such capacity, the “Administrative Agent”) and as Collateral Agent for the Secured Parties (in such capacity, the “Collateral Agent”), Credit Suisse AG, Cayman Islands Branch, Deutsche Bank Trust Company Americas, UBS Securities LLC and Xxxxx Fargo Bank, National Association, as Arrangers (in such capacity and together with the Lead Arrangers, the “Arrangers”) and Bookrunners (in such capacity and together with the Lead Bookrunners, the “Bookrunners”), Barclays Bank PLC, as Syndication Agent (in such capacity, the “Syndication Agent”), and Jefferies Finance LLC, as Documentation Agent (in such capacity, the “Documentation Agent”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION . 108 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 108 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 109 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION 109 Section 6.15 Business 71 SECTION 110 Section 6.16 Limitation on Accounting Changes 110 Section 6.17 Fiscal Year 72 SECTION 6.17 110 Section 6.18 No Further Negative Pledge 72 SECTION 6.18 110 Section 6.19 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 110 Section 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 Embargoed Person 111 ARTICLE VII GUARANTEE SECTION 111 Section 7.01 The Guarantee 73 SECTION 111 Section 7.02 Obligations Unconditional 73 SECTION 111 Section 7.03 Reinstatement 75 SECTION 112 Section 7.04 Subrogation; Subordination 75 SECTION 113 Section 7.05 Remedies 75 SECTION 113 Section 7.06 Instrument for the Payment of Money 75 SECTION 113 Section 7.07 Continuing Guarantee 75 SECTION 113 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 113 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 114 Section 7.10 Right of Contribution 76114 ARTICLE VIII EVENTS OF DEFAULT 115 Section 8.01 Events of Default 115 Section 8.02 Rescission 117 ARTICLE IX APPLICATION OF COLLATERAL PROCEEDS 118 Section 9.01 Application of Proceeds 118 ARTICLE X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 119 Section 10.01 Appointment 119 Section 10.02 Agent in Its Individual Capacity 119 Section 10.03 Exculpatory Provisions 120 Section 10.04 Reliance by Agent 120 Section 10.05 Delegation of Duties 121 Section 10.06 Successor Agent 121 Section 10.07 Non-Reliance on Agent and Other Lenders 121 Section 10.08 Name Agents 122 Section 10.09 Indemnification 122 Section 10.10 Withholding 122 Section 10.11 Intercreditor Agreement 123 Section 10.12 Certain Collateral Agents Approval Rights 123 ARTICLE XI MISCELLANEOUS 123 Section 11.01 Notices. 123 Section 11.02 Waivers; Amendment 126 Section 11.03 Expenses; Indemnity 128 Section 11.04 Successors and Assigns 131 Section 11.05 Survival of Agreement 134 Section 11.06 Counterparts; Integration; Effectiveness 134 Section 11.07 Severability 135 Section 11.08 Right of Setoff 135 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 135 Section 11.10 Waiver of Jury Trial 136 Section 11.11 Headings 136 Section 11.12 Confidentiality 136 Section 11.13 Interest Rate Limitation 137 Section 11.14 Assignment and Acceptance 137 Section 11.15 Obligations Absolute 137 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 138 Section 11.17 Patriot Act 138 Section 11.18 Judgment Currency 138 Section 11.19 Bank Product Providers 139 Section 11.20 Integration 139 Section 11.21 Restatement 140 Annex I Initial Lenders and Commitments Schedule 1.01 Pledgors Schedule 3.03 No Conflicts Schedule 3.05(b) Real Property Schedule 3.06(a) Use of Intellectual Property Schedule 3.07(a) Subsidiaries Schedule 3.07(c) Corporate Organizational Chart Schedule 3.09(c) Material Agreements Schedule 3.19 Insurance Schedule 4.01(d)(iii) Closing Date Indebtedness Schedule 4.01(k)(iii) Fair Market Value of Mortgaged Properties Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Schedule 6.09(c) Employment Agreements Exhibit A Form of Assignment and Acceptance Exhibit B Form of Borrowing Request Exhibit C Form of Compliance Certificate Exhibit D Form of Amended and Restated Intercompany Subordinated Demand Promissory Note Exhibit E Form of Interest Election Request Exhibit F Form of Landlord Access Agreement Exhibit G Form of LC Request Exhibit H-1 Form of Revolving Note Exhibit H-2 Form of Swingline Note Exhibit I Form of Security Agreement Exhibit J Form of Non-Bank Certificate Exhibit K Form of Solvency Certificate Exhibit L Form of Amended and Restated Services Fee Subordination Agreement Exhibit M Form of Bank Product Provider Letter Agreement Exhibit N Form of Borrowing Base Certificate Exhibit 4.01(b) Form of Cash Flow Statement This AMENDED AND RESTATED CREDIT AGREEMENT (as amended, supplemented or otherwise modified from time to time, this “Agreement”), dated as of May 2, 2012, among XXXXXXXX & XXXXXXXX SUPPLY CO. LLC, a Delaware limited liability company (“Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, REGIONS BANK, as administrative agent for the Lenders (in such capacity, the “Administrative Agent”), REGIONS BANK and RBS BUSINESS CAPITAL, a division of RBS Asset Finance, Inc. (“RBS”), as co-collateral agents for the Secured Parties (in such capacity, individually a “Collateral Agent” and collectively, the “Collateral Agents”), REGIONS BANK, as swingline lender (in such capacity, the “Swingline Lender”) for the Lenders, and REGIONS BANK, as issuing bank for the Lenders (in such capacity, the “Issuing Bank”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness , Acquisition and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 etc 111 Section 6.12. Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 111 Section 6.13. Limitation on Issuance of Capital Stock 71 SECTION 6.14 112 Section 6.14. Business 112 Section 6.15. Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Accounting Changes 112 Section 6.16. Fiscal Year 72 SECTION 6.17 Periods 112 Section 6.17. No Further Negative Pledge 72 SECTION 6.18 112 Section 6.18. Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE 113 Section 6.19. Embargoed Person 113 Section 6.20. Interest Rate Protection 113 Article VII GUARANTEE SECTION 7.01 Guarantee 114 Section 7.01. The Guarantee 73 SECTION 7.02 114 Section 7.02. Obligations Unconditional 73 SECTION 7.03 114 Section 7.03. Reinstatement 75 SECTION 7.04 115 Section 7.04. Subrogation; Subordination 75 SECTION 7.05 116 Section 7.05. Remedies 75 SECTION 7.06 116 Section 7.06. Instrument for the Payment of Money 75 SECTION 7.07 116 Section 7.07. Continuing Guarantee 75 SECTION 7.08 116 Section 7.08. General Limitation on Guarantee Obligations 75 SECTION 7.09 116 Section 7.09. Release of Subsidiary Guarantors 75 SECTION 7.10 116 Section 7.10. Right of Contribution 76117 Article VIII Events of Default 117 Section 8.01. Events of Default 117 Article IX The Administrative Agent and The Collateral Agent 121 Section 9.01. Appointment 121 Section 9.02. Agent in Its Individual Capacity 121 Section 9.03. Exculpatory Provisions. 121 Section 9.04. Reliance by Agent 122 Section 9.05. Delegation of Duties 122 Section 9.06. Successor Agent 123 Section 9.07. Non-Reliance on Agent and Other Lenders 123 Section 9.08. No Other Duties 123 Section 9.09. Indemnification 124 Section 9.10. Secured Hedge Agreements and Bank Product Obligations 124 Section 9.11. Administrative Agent May File Proofs of Claim 124 Article X Miscellaneous 125 Section 10.01. Notices 125 Section 10.02. Waivers; Amendment 127

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 etc 108 Section 6.13 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 6.13 108 Section 6.14 Limitation on Issuance of Capital Stock 71 SECTION 6.14 109 Section 6.15 Business 110 Section 6.16 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Accounting Changes 110 Section 6.17 Fiscal Year 72 SECTION 6.17 110 Section 6.18 No Further Negative Pledge 72 SECTION 6.18 110 Section 6.19 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 110 Section 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE SECTION Embargoed Person 111 Section 7.01 The Guarantee 73 SECTION 111 Section 7.02 Obligations Unconditional 73 SECTION 111 Section 7.03 Reinstatement 75 SECTION 112 Section 7.04 Subrogation; Subordination 75 SECTION 113 Section 7.05 Remedies 75 SECTION 113 Section 7.06 Instrument for the Payment of Money 75 SECTION 113 Section 7.07 Continuing Guarantee 75 SECTION 113 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 113 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 113 Section 7.10 Right of Contribution 76114 Section 7.11 Keepwell 114 Section 8.01 Events of Default 114 Section 8.02 Rescission 117 Section 8.03 Equity Cure 117 Section 8.04 Application of Proceeds 118 Section 9.01 Appointment 119 Section 9.02 Agent in Its Individual Capacity 120 Section 9.03 Exculpatory Provisions 120 Section 9.04 Reliance by Agent 121 Section 9.05 Delegation of Duties 121 Section 9.06 Successor Agent 121 Section 9.07 Non-Reliance on Agent and Other Lenders 122 Section 9.08 Name Agents 122 Section 9.09 Indemnification 122 Section 9.10 Withholding Taxes 123 Section 9.11 Lender’s Representations, Warranties and Acknowledgements 123 Section 9.12 Collateral Documents and Guarantee 123 Section 9.13 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 125

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 SECTION 6.12 . 132 Section 6.11 Limitation on Certain Restrictions on Subsidiaries 70 SECTION Subsidiary Guarantors. 132 Section 6.12 Business. 133 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION Fiscal Year. 133 Section 6.14 Limitation on Creation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 SECTION 6.18 Compliance with Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE Laws. 133 Article VII GUARANTEE SECTION 134 Section 7.01 The Guarantee 73 SECTION Guarantee. 134 Section 7.02 Obligations Unconditional 73 SECTION Unconditional. 134 Section 7.03 Reinstatement 75 SECTION Reinstatement. 136 Section 7.04 Subrogation; Subordination 75 SECTION Subordination. 136 Section 7.05 Remedies 75 SECTION Remedies. 136 Section 7.06 Instrument for the Payment of Money 75 SECTION Money. 136 Section 7.07 Continuing Guarantee 75 SECTION Guarantee. 136 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION Obligations. 136 Section 7.09 Release of Subsidiary Guarantors 75 SECTION Loan Parties. 137 Section 7.10 Right of Contribution 76Contribution. 137 Article VIII EVENTS OF DEFAULT 137 Section 8.01 Events of Default. 137 Section 8.02 Application of Proceeds. 140 Article IX THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENTS 141 Section 9.01 Appointment and Authority. 141 Section 9.02 Rights as a Lender. 141 Section 9.03 Exculpatory Provisions. 142 Section 9.04 Reliance by Agent. 142 Section 9.05 Delegation of Duties. 143 Section 9.06 Resignation of Agent. 143 Section 9.07 Non-Reliance on Agent and Other Lenders. 144 Section 9.08 Withholding Tax. 144 Section 9.09 No Other Duties, etc. 145 Section 9.10 Enforcement. 145 Section 9.11 Recovery of Erroneous Payments. 145 Article X MISCELLANEOUS 146 Section 10.01 Notices. 146 Section 10.02 Waivers; Amendment. 149 Section 10.03 Expenses; Indemnity; Damage Waiver. 152 Section 10.04 Successors and Assigns. 155 Section 10.05 Survival of Agreement. 158 Section 10.06 Counterparts; Integration; Effectiveness; Electronic Records. 158 Section 10.07 Severability. 159 Section 10.08 Right of Setoff. 159 Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process. 160 Section 10.10 Waiver of Jury Trial. 160 Section 10.11 Headings. 160 Section 10.12 Treatment of Certain Information; Confidentiality. 161 Section 10.13 USA PATRIOT Act Notice and Customer Verification. 161 Section 10.14 Interest Rate Limitation. 161 Section 10.15 Acknowledgment and Consent to Bail-In of EEA Financial Institutions. 162 Section 10.16 Obligations Absolute. 162 Section 10.17 Intercreditor Agreements. 163 Section 10.18 Release of Collateral. 163 Section 10.19 Permitted Amendments. 163 Section 10.20 Acknowledgement Regarding Supported QFCs. 164 Section 10.21 Amendment and Restatement; Reaffirmation. 164 Annex I Applicable Margin Xxxxx XX Account Debtors Annex III Hydrocarbon Inventory Insurance Annex IV Revolving Commitments Schedule 1.01(a) Existing Letters of Credit Schedule 1.01(b) Intercreditor Agreements Schedule 1.01(c) MLP Drop Down and Railcar Assets Schedule 1.01(d) Subsidiary Guarantors Schedule 1.01(e) Excluded Subsidiaries Schedule 2.22 Blocked Accounts Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.08 Litigation Schedule 3.18 Environmental Matters Schedule 3.19 Insurance Schedule 3.22 Material Inventory Schedule 5.01 Internet or Website Address Schedule 6.01(b) Existing Indebtedness Schedule 6.01(e) Existing Railcar Financings Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Schedule 6.08 Transactions with Affiliates Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H Form of LC Request Exhibit I [Reserved] Exhibit J [Reserved] Exhibit K-1 Form of Revolving Note Exhibit K-2 Form of Swingline Note Exhibit L-1 Form of Perfection Certificate Exhibit L-2 Form of Perfection Certificate Supplement Exhibit M [Reserved] Exhibit N [Reserved] Exhibit O Form of Solvency Certificate Exhibit P Form of Intercompany Note Exhibit Q Form of Non-Bank Certificate Exhibit R Form of Borrowing Base Certificate This AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT (this “Agreement”) dated as of August 23, 2023, among PBF Holding Company LLC, a Delaware limited liability company (“Holdings”), Delaware City Refining Company LLC, a Delaware limited liability company (“Delaware City”), Paulsboro Refining Company LLC, a Delaware limited liability company (“Paulsboro”), Toledo Refining Company LLC, a Delaware limited liability company (“Toledo”), Chalmette Refining, L.L.C., a Delaware limited liability company (“Chalmette”), and Torrance Refining Company LLC, a Delaware limited liability company (“Torrance”), Xxxxxxxx Refining Company LLC, a Delaware limited liability company (“Martinez” and, together with Holdings, Delaware City, Paulsboro, Toledo, Chalmette and Torrance, “Borrowers” and each individually, a “Borrower”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders and Bank of America, N.A., as an Issuing Bank, Administrative Agent (in such capacity, the “Administrative Agent”), Collateral Agent (in such capacity, the “Collateral Agent”), and as Swingline Lender (in such capacity, the “Swingline Lender”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 83 SECTION 6.12 6.12. Limitation on Certain Restrictions on Subsidiaries 70 83 SECTION 6.13 6.13. Limitation on Issuance of Capital Stock 71 84 SECTION 6.14 6.14. Business 84 SECTION 6.15. Limitation on Creation of Subsidiaries 71 Accounting Changes 84 SECTION 6.15 Business 71 SECTION 6.16 6.16. Fiscal Year 72 85 SECTION 6.17 6.17. Lease Obligations 85 SECTION 6.18. No Further Negative Pledge 72 85 SECTION 6.18 6.19. Anti-Terrorism Law; Anti-Money Laundering 72 85 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 6.20. Embargoed Person 85 ARTICLE VII GUARANTEE Events of Default 86 SECTION 7.01 7.01. Events of Default 86 ARTICLE VIII The Guarantee 73 Administrative Agent 89 ARTICLE IX Miscellaneous 92 SECTION 7.02 Obligations Unconditional 73 9.01. Notices 92 SECTION 7.03 Reinstatement 75 9.02. Waivers; Amendments 93 SECTION 7.04 Subrogation9.03. Expenses; Subordination 75 Indemnity; Damage Waiver 95 SECTION 7.05 Remedies 75 9.04. Successors and Assigns 96 SECTION 7.06 Instrument for the Payment of Money 75 9.05. Survival 99 SECTION 7.07 Continuing Guarantee 75 9.06. Counterparts; Integration; Effectiveness 99 SECTION 7.08 General Limitation on Guarantee Obligations 75 9.07. Severability 99 SECTION 7.09 Release of Subsidiary Guarantors 75 SECTION 7.10 9.08. Right of Contribution 76Setoff 100 SECTION 9.09. Governing Law; Jurisdiction; Consent to Service of Process 100 SECTION 9.10. WAIVER OF JURY TRIAL 100 SECTION 9.11. Headings 101 SECTION 9.12. Confidentiality 101 SECTION 9.13. USA PATRIOT Act 101 SECTION 9.14. Appointment for Perfection 101 ARTICLE X 102 Table of Contents (continued) SCHEDULES: Schedule 2.01 — Commitments Schedule 2.02 — Mandatory Cost Schedule 3.03 — Government Approvals; Compliance with Laws Schedule 3.04(b) — Liabilities Schedule 3.05(b) — Real Property Schedule 3.06(a) — Intellectual Property Schedule 3.06(b) — Registrations Schedule 3.06(c) — Violations or Proceedings (a) Equity Interests; Equity Interests Note Owned by the Borrower or a Wholly Owned Subsidiary Schedule 3.07(a)(ii) — Existing foreign pledge agreements Schedule 3.07(c) — Organizational Chart Schedule 3.08(b) — Litigation; Compliance with Laws Schedule 3.18 — Environmental Matters Schedule 3.19 — Insurance Schedule 6.01(b) — Existing Indebtedness Schedule 6.02(c) — Existing Liens Schedule 6.04(b) — Existing Investments Schedule 6.04(f) — Foreign Intercompany Notes EXHIBITS: Exhibit A — Form of Assignment and Assumption Exhibit B — Form of Opinion of Loan Parties’ Counsel Exhibit C — Form of Increasing Lender Supplement Exhibit D — Form of Augmenting Lender Supplement Exhibit E — List of Closing Documents Exhibit F — Form of Intercompany Note CREDIT AGREEMENT (this “Agreement”) dated as of March 15, 2010 among XXXXXX INTERNATIONAL INC., the LENDERS from time to time party hereto and JPMORGAN CHASE BANK, N.A., as Administrative Agent. The parties hereto agree as follows:

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 98 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 99 SECTION 6.13 Limitation on Issuance of Capital Stock 71 by Subsidiaries 99 SECTION 6.14 Limitation on Creation of Subsidiaries 71 100 SECTION 6.15 Business 71 101 SECTION 6.16 Fiscal Year 72 101 SECTION 6.17 No Further Negative Pledge 72 101 SECTION 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 101 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Embargoed Person 102 SECTION 7.01 The Guarantee 73 102 SECTION 7.02 Obligations Unconditional 73 102 SECTION 7.03 Reinstatement 75 104 SECTION 7.04 Subrogation; Subordination 75 104 SECTION 7.05 Remedies 75 104 SECTION 7.06 Instrument for the Payment of Money 75 104 SECTION 7.07 Continuing Guarantee 75 104 SECTION 7.08 General Limitation on Guarantee Obligations 75 104 SECTION 7.09 Release of Subsidiary Guarantors 75 104 SECTION 7.10 Right of Contribution 76105 SECTION 8.01 Events of Default 105 SECTION 8.02 Application of Proceeds. 108 SECTION 9.01 Appointment and Authority 109 SECTION 9.02 Rights as a Lender 109 SECTION 9.03 Exculpatory Provisions 109 SECTION 9.04 Reliance by Agent 110 SECTION 9.05 Delegation of Duties 111 SECTION 9.06 Resignation of Agent 111

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Certificate of Incorporation, Other Constitutive Documents or By-Laws and Certain Other DocumentsAgreements, etc.; Limitation on Overadvances 70 . 86 SECTION 6.12 6.09. Limitation on Certain Restrictions on Subsidiaries 70 87 SECTION 6.13 6.10. Limitation on Issuance of Capital Stock 71 87 SECTION 6.14 6.11. Limitation on Creation of Subsidiaries 71 88 SECTION 6.15 6.12. Business 71 88 SECTION 6.16 6.13. Limitation on Accounting Changes 88 SECTION 6.14. Fiscal Year 72 88 SECTION 6.17 No Further Negative Pledge 72 6.15. Sale and Leaseback Transactions 89 SECTION 6.18 6.16. Anti-Terrorism Law; Anti-Money Laundering 72 89 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE SECTION 7.01 7.01. The Guarantee 73 89 SECTION 7.02 7.02. Obligations Unconditional 73 89 SECTION 7.03 7.03. Reinstatement 75 91 SECTION 7.04 7.04. Subrogation; Subordination 75 91 SECTION 7.05 7.05. Remedies 75 91 SECTION 7.06 7.06. Instrument for the Payment of Money 75 91 SECTION 7.07 Continuing Guarantee 75 SECTION 7.08 7.07. General Limitation on Guarantee Obligations 75 92 SECTION 7.09 Release 8.01. Events of Default 92 SECTION 9.01. Collateral Account 94 SECTION 9.02. Proceeds of Casualty Events 95 SECTION 9.03. Application of Proceeds 96 SECTION 10.01. Appointment 96 SECTION 10.02. Agent in Its Individual Capacity 97 SECTION 10.03. Exculpatory Provisions 97 SECTION 10.04. Reliance by Agent 97 SECTION 10.05. Delegation of Duties 97 SECTION 10.06. Successor Agent 98 SECTION 10.07. Non-Reliance on Agent and Other Lenders 98 SECTION 10.08. No Other Administrative Agent 98 SECTION 10.09. Indemnification 99 SECTION 11.01. Notices 99 SECTION 11.02. Waivers; Amendment 100 SECTION 11.03. Expenses; Indemnity 102 SECTION 11.04. Successors and Assigns 103 SECTION 11.05. Survival of Agreement 106 SECTION 11.06. Counterparts; Integration; Effectiveness 106 SECTION 11.07. Severability 107 SECTION 11.08. Right of Setoff 107 SECTION 11.09. Governing Law; Jurisdiction; Consent to Service of Process 107 SECTION 11.10. WAIVER OF JURY TRIAL 108 SECTION 11.11. Headings 108 SECTION 11.12. Confidentiality 108 SECTION 11.13. Interest Rate Limitation 109 Schedule 1.01(a) Mortgaged Properties Schedule 1.01(c) Subsidiary Guarantors 75 SECTION 7.10 Right Schedule 3.03 Governmental Approvals; No Conflicts Schedule 3.05(c) Intellectual Property Schedule 3.06(a) Subsidiaries Schedule 3.08 Material Agreements Schedule 3.18 Insurance Schedule 4.02(l)(vi) Landlord Access Agreements Schedule 5.10 Post-Closing Obligations Schedule 6.01 Existing Indebtedness Schedule 6.02 Existing Liens Schedule 6.04 Specified Acquisitions Exhibit A Form of Contribution 76Landlord Access Agreement Exhibit B Form of Administrative Questionnaire Exhibit C Form of Assignment and Assumption Exhibit D Form of Borrowing Request Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Confidential Lender Authorization Exhibit H Form of Mortgage Exhibit I-1 Form of Term Note Exhibit I-2 Form of Revolving Note Exhibit I-3 Form of Swingline Note Exhibit J-1 Form of Perfection Certificate Exhibit J-2 Form of Perfection Certificate Supplement Exhibit K Form of Security Agreement Exhibit L Form of Exemption Certificate Exhibit M Form of Solvency Certificate Exhibit N Form of Intercompany Note Exhibit O Form of Mortgage Amendment AMENDED AND RESTATED CREDIT AGREEMENT (as amended, restated, supplemented or otherwise modified from time to time, this “Agreement”) dated as of August 1, 2007, among COMMUNICATIONS & POWER INDUSTRIES, INC., a Delaware corporation (“Borrower”), CPI INTERNATIONAL, INC. (formerly known as CPI Holdco, Inc.), a Delaware corporation (“Parent”), the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given it in Article I), the Lenders, UBS SECURITIES LLC and BEAR, XXXXXXX & CO. INC., as joint lead arrangers and bookrunners (in such capacity, “Joint Lead Arrangers”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders, and collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties and as issuing bank (in such capacity, “Issuing Bank”), BEAR XXXXXXX CORPORATE LENDING INC., as Syndication Agent (in such capacity, “Syndication Agent”), THE ROYAL BANK OF SCOTLAND PLC, as Documentation Agent (in such capacity, “Documentation Agent”) and RBS SECURITIES CORP., as co-arranger and bookrunner (in such capacity, “Co-Arranger”).

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Certain Other Documents, etc.; Limitation on Overadvances 70 SECTION etc 89 Section 6.12 Limitation on Certain Restrictions on Subsidiaries 70 SECTION 90 Section 6.13 Limitation on Issuance of Capital Stock 71 SECTION 91 Section 6.14 Limitation on Creation Business 91 Section 6.15 Operation of Subsidiaries 71 SECTION 6.15 Business 71 SECTION Collateral Vessels 91 Section 6.16 Fiscal Year 72 SECTION Periods 91 Section 6.17 No Further Negative Pledge 72 SECTION 91 Section 6.18 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 92 Section 6.19 Limitation Embargoed Person 92 Section 6.20 Restrictions on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION Chartering 92 Section 6.21 Swap Agreements 73 SECTION Additional Covenants 92 Section 6.22 LTB as Passive Holding Company 73 ARTICLE Employee Benefits 93 Section 6.23 Pledge Restrictions 93 Article VII GUARANTEE SECTION 93 Section 7.01 The Guarantee 73 SECTION 93 Section 7.02 Obligations Unconditional 73 SECTION 93 Section 7.03 Reinstatement 75 SECTION 94 Section 7.04 Subrogation; Subordination 75 SECTION 94 Section 7.05 Remedies 75 SECTION 95 Section 7.06 Instrument for the Payment of Money 75 SECTION 95 Section 7.07 Continuing Guarantee 75 SECTION 95 Section 7.08 General Limitation on Guarantee Obligations 75 SECTION 95 Section 7.09 Release of Subsidiary Guarantors 75 SECTION 95 Section 7.10 Right of Contribution 7696 Section 7.11 Keepwell 96 Article VIII EVENTS OF DEFAULT 96 Section 8.01 Events of Default 96 Section 8.02 Rescission 99 Article IX APPLICATION OF COLLATERAL PROCEEDS 99 Section 9.01 Application of Proceeds 99 Article X THE ADMINISTRATIVE AGENT AND THE COLLATERAL AGENT 101 Section 10.01 Appointment 101 Section 10.02 Agent in Its Individual Capacity 101 Section 10.03 Exculpatory Provisions 102 Section 10.04 Reliance by Agent 103 Section 10.05 Delegation of Duties 104 Section 10.06 Successor Agent 104 Section 10.07 Non-Reliance on Agent and Other Lenders 105 Section 10.08 Name Agents 105 ​ ​ ​ ​ ​ ​ Page Section 10.09 Indemnification 105 Section 10.10 Withholding Taxes 106 Section 10.11 Xxxxxx’s Representations, Warranties and Acknowledgements 106 Section 10.12 Security Documents and Guarantees 106 Section 10.13 Administrative Agent May File Bankruptcy Disclosure and Proofs of Claim 108 Section 10.14 Ship Mortgage Trust 109 Article XI MISCELLANEOUS 109 Section 11.01 Notices 109 Section 11.02 Waivers; Amendment 112 Section 11.03 Expenses; Indemnity 114 Section 11.04 Successors and Assigns 117 Section 11.05 Survival of Agreement 120 Section 11.06 Counterparts; Integration 120 Section 11.07 Severability 120 Section 11.08 Right of Setoff; Marshalling; Payments Set Aside 120 Section 11.09 Governing Law; Jurisdiction; Consent to Service of Process 121 Section 11.10 Waiver of Jury Trial 122 Section 11.11 Headings 122 Section 11.12 Confidentiality 122 Section 11.13 Interest Rate Limitation 123 Section 11.14 Assignment and Acceptance 123 Section 11.15 Obligations Absolute 123 Section 11.16 Waiver of Defenses; Absence of Fiduciary Duties 124 Section 11.17 Patriot Act; Beneficial Ownership Regulation Notice 124 Section 11.18 Bank Product Providers 125 Section 11.19 EXCLUDED SWAP OBLIGATIONS 125 Section 11.20 [Reserved] 125 Section 11.21 Judgment Currency 125 Section 11.22 Waiver of Sovereign Immunity 126 Section 11.23 Acknowledgment and Consent to Bail-In 126 Section 11.24 Certain ERISA Matters 127 Section 11.25 Acknowledgement Regarding Any Supported QFCs 128 ​ ​ ​ ​ ​ ANNEXES ​ ​ ​ ​ ​ Annex I -- Initial Lenders and Commitments ​ ​ ​ SCHEDULES ​ ​ ​ ​ ​ Schedule 1.01(a) -- Collateral Vessels Schedule 1.01(b) -- Approved Classification Societies Schedule 1.01(c) -- Acceptable Flag Jurisdictions Schedule 1.01(d) -- Acceptable Third Party Technical Managers Schedule 1.01(e) -- Approved Brokers Schedule 1.01(f) -- Commercial Managers Schedule 1.01(g) -- Demise Charters Schedule 1.01(h) -- Subsidiary Guarantors Schedule 1.01(i) -- Sustainability Pricing Adjustment Schedule Schedule 2.09(c) -- Scheduled Commitment Reductions Schedule 3.07(a) -- Equity Interests Schedule 3.07(c) -- Corporate Organizational Chart Schedule 3.20 -- Required Insurance Schedule 5.14 -- Earnings Account Schedule 5.15 -- [Reserved] Schedule 6.01(b) -- Existing Indebtedness Schedule 6.04(a) -- Existing Investments Schedule 6.09(d) -- Certain Affiliate Transactions ​ EXHIBITS ​ ​ ​ ​ ​ Exhibit A -- Form of Assignment and Acceptance Exhibit B -- Form of Borrowing Request Exhibit C -- Form of Compliance Certificate Exhibit D -- Form of Intercompany Subordination Agreement Exhibit E -- Form of Interest Election Request Exhibit F-1 -- [Reserved] Exhibit F-2 -- Form of Revolving Note Exhibit G -- Form of Pledge Agreement Exhibit H -- Form of Portfolio Interest Certificate Exhibit I -- Form of Solvency Certificate Exhibit J -- Form of Bank Product Provider Letter Agreement Exhibit K -- Form of Quiet Enjoyment Agreement Exhibit -- Form of Xxxxxxxx Islands Collateral Vessel Mortgage Exhibit M -- Form of General Assignment Agreement Exhibit N -- Form of Assignment of Insurances Exhibit O -- Form of Sustainability Certificate Exhibit P -- Form of Specific Price Cap Undertaking Attestation ​ ​

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 76 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 77 SECTION 6.13 Limitation on Issuance of Capital Stock 71 78 SECTION 6.14 Limitation on Creation of Subsidiaries 71 78 SECTION 6.15 Limitation on Business 71 Activities 78 SECTION 6.16 Limitation on Accounting Changes 79 SECTION 6.17 Fiscal Year 72 79 SECTION 6.17 6.18 Lease Obligations 79 SECTION 6.19 No Further Negative Pledge 72 79 SECTION 6.18 6.20 Anti-Terrorism Law; Anti-Money Laundering 72 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 80 SECTION 6.21 Swap Agreements 73 Embargoed Person 80 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE Implementation of Integration Plan 80 SECTION 6.23 Deposit of Funds 81 SECTION 7.01 The Guarantee 73 81 SECTION 7.02 Obligations Unconditional 73 81 SECTION 7.03 Reinstatement 75 82 SECTION 7.04 Subrogation; Subordination 75 82 SECTION 7.05 Remedies 75 83 SECTION 7.06 Instrument for the Payment of Money 75 83 SECTION 7.07 Continuing Guarantee 75 83 SECTION 7.08 General Limitation on Guarantee Obligations 75 83 SECTION 7.09 Release of Subsidiary Guarantors 75 83 SECTION 7.10 8.01 Events of Default 84 SECTION 8.02 Rescission 86 SECTION 8.03 Application of Proceeds 86 SECTION 9.01 Appointment and Authority 87 SECTION 9.02 Rights as a Lender 87 SECTION 9.03 Exculpatory Provisions 88 SECTION 9.04 Reliance by Agent 88 SECTION 9.05 Delegation of Duties 89 SECTION 9.06 Resignation of Agent 89 SECTION 9.07 Non-Reliance on Agent and Other Lenders 89 SECTION 9.08 No Other Duties, etc. 90 SECTION 10.01 Notices 90 SECTION 10.02 Waivers; Amendment 92 SECTION 10.03 Expenses; Indemnity; Damage Waiver 94 SECTION 10.04 Successors and Assigns 95 SECTION 10.05 Survival of Agreement 97 SECTION 10.06 Counterparts; Integration; Effectiveness; Electronic Execution 98 SECTION 10.07 Severability 98 SECTION 10.08 Right of Contribution 76Setoff 98 SECTION 10.09 Governing Law; Jurisdiction; Consent to Service of Process 99 SECTION 10.10 Waiver of Jury Trial 99 SECTION 10.11 Headings 99 SECTION 10.12 Treatment of Certain Information; Confidentiality 99 SECTION 10.13 USA PATRIOT Act Notice 100 SECTION 10.14 Interest Rate Limitation 100 SECTION 10.15 Lender Addendum 101 SECTION 10.16 Obligations Absolute 101 SECTION 10.17 Joint and Several Liability of Borrowers 101 Annex I Amortization Table Schedule 1.01(b) Guarantors Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.05(b) Fixture Filings Not to be Made Schedule 3.05(c) Casualty Events Schedule 3.06(c) Violations or Proceedings Schedule 3.07(c) Corporate Organizational Chart Schedule 3.09 Material Agreements Schedule 3.18 Environmental Matters Schedule 3.19 Insurance Schedule 5.17(a) Jurisdictions to be Searched Schedule 5.17(b) Fixture Filings to be Made Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord’s Lien Waiver, Access Agreement and Consent Exhibit H Form of Lender Addendum Exhibit I Form of Note Exhibit J-1 Form of Perfection Certificate Exhibit J-2 Form of Perfection Certificate Supplement Exhibit K Form of Security Agreement Exhibit L Form of Opinion of Company Counsel Exhibit M Form of Solvency Certificate Exhibit N Form of Intercompany Note Exhibit O Form of Non-Bank Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of November 16, 2004, among METROCALL, INC., a Delaware corporation (“Metrocall”), and ARCH WIRELESS OPERATING COMPANY, INC., a Delaware corporation (“Arch” and, together with Metrocall, “Borrowers”), USA MOBILITY, INC., a Delaware corporation (“Holdings”), the other Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, UBS SECURITIES LLC, as lead arranger (in such capacity, “Arranger”), as documentation agent (in such capacity, “Documentation Agent”) and as syndication agent (in such capacity, “Syndication Agent”), and UBS AG, STAMFORD BRANCH, as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties.

Prepayments of Other Indebtedness. Modifications of Organizational Documents; Material Indebtedness Documents and Other Documents, etc.; Limitation on Overadvances 70 . 95 SECTION 6.12 Limitation on Certain Restrictions on Subsidiaries 70 96 SECTION 6.13 Limitation on Issuance of Capital Stock 71 Business 96 SECTION 6.14 Limitation on Creation of Subsidiaries 71 Fiscal Year 96 SECTION 6.15 Business 71 SECTION 6.16 Fiscal Year 72 SECTION 6.17 No Further Negative Pledge 72 96 SECTION 6.18 6.16 Anti-Terrorism Law; Anti-Money Laundering 72 97 SECTION 6.19 Limitation on Use of Stock Proceeds to Prepay Loans 72 SECTION 6.20 Availability Under First Lien Credit Agreement 72 SECTION 6.21 Swap Agreements 73 SECTION 6.22 LTB as Passive Holding Company 73 ARTICLE VII GUARANTEE 6.17 Embargoed Person 97 SECTION 7.01 The Guarantee 73 98 SECTION 7.02 Obligations Unconditional 73 98 SECTION 7.03 Reinstatement 75 99 SECTION 7.04 Subrogation; Subordination 75 99 SECTION 7.05 Remedies 75 99 SECTION 7.06 Instrument for the Payment of Money 75 99 SECTION 7.07 Continuing Guarantee 75 100 SECTION 7.08 General Limitation on Guarantee Obligations 75 100 SECTION 7.09 Release of Guarantors 100 SECTION 8.01 Events of Default 100 SECTION 9.01 Application of Proceeds 103 SECTION 10.01 Appointment 103 SECTION 10.02 Agent in Its Individual Capacity 104 SECTION 10.03 Exculpatory Provisions 104 SECTION 10.04 Reliance by Agent 104 SECTION 10.05 Delegation of Duties 104 SECTION 10.06 Successor Agent 105 SECTION 10.07 Non-Reliance on Agent and Other Lenders 105 SECTION 10.08 Name Agents 105 SECTION 10.09 Indemnification 105 SECTION 11.01 Notices 106 SECTION 11.02 Waivers; Amendment 107 SECTION 11.03 Expenses; Indemnity 110 SECTION 11.04 Successors and Assigns 112 SECTION 11.05 Survival of Agreement 114 SECTION 11.06 Counterparts; Integration; Effectiveness 114 SECTION 11.07 Severability 114 SECTION 11.08 Right of Setoff 115 SECTION 11.09 Governing Law; Jurisdiction; Consent to Service of Process 115 SECTION 11.10 Waiver of Jury Trial 115 SECTION 11.11 Headings 116 SECTION 11.12 Confidentiality 116 SECTION 11.13 Interest Rate Limitation 116 SECTION 11.14 Lender Addendum 117 Annex I Amortization Table Schedule 1.01(a) Mortgaged Property Schedule 1.01(b) Refinancing Indebtedness to Be Repaid Schedule 1.01(c) Subsidiary Guarantors 75 SECTION 7.10 Right Schedule 1.01(d) Selected Quarterly Adjusted EBITDA Schedule 3.03 Governmental Approvals; Compliance with Laws Schedule 3.05(a) Properties Schedule 3.05(b) Real Property Schedule 3.06(a) Intellectual Property Schedule 3.06(c) Intellectual Property: Violations or Proceedings Schedule 3.07(a) Subsidiaries Schedule 3.07(c) Corporate Organizational Chart Schedule 3.08 Litigation; compliance with Laws Schedule 3.18 Environmental Matters Schedule 3.19 Insurance Schedule 3.24 Location of Contribution 76Material Inventory Schedule 4.01(g) Local Counsel Schedule 4.01(n)(vi) Landlord Access Agreements Schedule 4.01(o)(iii) Title Insurance Amounts Schedule 6.01(b) Existing Indebtedness Schedule 6.02(c) Existing Liens Schedule 6.04(b) Existing Investments Exhibit A Form of Administrative Questionnaire Exhibit B Form of Assignment and Assumption Exhibit C Form of Borrowing Request Exhibit D Form of Compliance Certificate Exhibit E Form of Interest Election Request Exhibit F Form of Joinder Agreement Exhibit G Form of Landlord Access Agreement Exhibit H Form of LC Request Exhibit I Form of Lender Addendum Exhibit J-1 Form of Mortgage Exhibit J-2 Form of Leasehold Mortgage Exhibit K-1 Form of Term Note Exhibit K-2 Form of Revolving Note Exhibit K-3 Form of Swingline Note Exhibit L Form of Perfection Certificate Exhibit M Form of Security Agreement Exhibit N-1 Form of Opinion of Company Counsel Exhibit N-2 Form of Opinion of Local Counsel Exhibit O Form of Solvency Certificate Exhibit P Form of Intercompany Note Exhibit Q Form of Non-Bank Certificate This CREDIT AGREEMENT (this “Agreement”) dated as of May 27, 2004, among LEINER MERGER CORPORATION, a Delaware corporation (“Mergeco” or, prior to the Merger (as defined below), the “Borrower”), LXXXXX HEALTH PRODUCTS INC., a Delaware corporation (“LHPI” or, following the Merger, the “Borrower”), the Guarantor, the Subsidiary Guarantors (such term and each other capitalized term used but not defined herein having the meaning given to it in Article I), the Lenders, UBS SECURITIES LLC and MXXXXX SXXXXXX SENIOR FUNDING, INC., as joint lead arrangers and joint book-runners (in such capacity, each an “Arranger”) MXXXXX SXXXXXX SENIOR FUNDING, INC., as syndication agent (in such capacity, “Syndication Agent”), CREDIT SUISSE FIRST BOSTON, as documentation agent (in such capacity, “Documentation Agent”), UBS LOAN FINANCE LLC, as swingline lender (in such capacity, “Swingline Lender”), and UBS AG, STAMFORD BRANCH, as issuing bank (in such capacity, “Issuing Bank”), as administrative agent (in such capacity, “Administrative Agent”) for the Lenders and as collateral agent (in such capacity, “Collateral Agent”) for the Secured Parties and the Issuing Bank.