Exhibit 10.5


 


 








 


 


 



REGISTRATION RIGHTS AGREEMENT


 


of


 


BEACON ROOFING SUPPLY, INC.


 


 


 


dated as of October 1, 2015


 


 


 


 



 


 




    


     


    

 





TABLE OF CONTENTS


 







 





	 		Page
	1.	Definitions	1
	2.	Registration Rights	5
	 	(a) Shelf Registration	5
	 	(b) Shelf Takedowns	5
	 	(c) Cooperation with Shelf Takedowns	5
	 	(d) Automatic Shelf Registration Statements	5
	 	(e) Demand Rights	6
	 	(f) Effectiveness of Demand Registration	6
	 	(g) Continued Effectiveness	6
	 	(h) Priority on Registration	7
	 	(i) Postponements in Requested Registrations	7
	 	(j) Registration Expenses	8
	 	(k) Registration Statement Form	8
	 	(l) Selection of Underwriters	8
	3.	Piggyback Restrictions	9
	 	(a) Right to Piggyback	9
	 	(b) Underwritten Registration	9
	 	(c) Piggyback Registration Expenses	10
	 	(d) Priority on Primary Registrations	10
	 	(e) Priority on Secondary Registrations	10
	4.	Registration Procedures	10
	5.	Indemnification	16
	 	(a) Indemnification by the Company	16
	 	(b) Indemnification by CD&R Stockholder of
    Registrable Securities	17
	 	(c) Conduct of Indemnification Proceedings	18



 


 






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TABLE OF CONTENTS


 


(continued)


 







 


 


 


	 		Page
	 	(d) Contribution	18
	 	(e) Deemed Underwriter	19
	 	(f) Other Indemnification	19
	 	(g) Non-Exclusivity	19
	6.	Registration Expenses	19
	7.	Rule 144	21
	8.	Certain Additional Agreements	21
	9.	Miscellaneous	21
	 	(a) Termination	21
	 	(b) Holdback Agreement	21
	 	(c) Amendments and Waivers	22
	 	(d) Successors, Assigns and Transferees	22
	 	(e) Notices	22
	 	(f) Further Assurances	24
	 	(g) No Inconsistent Agreements	24
	 	(h) Entire Agreement; No Third Party Beneficiaries	24
	 	(i) Governing Law; Jurisdiction and Forum; Waiver
    of Jury Trial	24
	 	(j) Severability	25
	 	(k) Enforcement	25
	 	(l) Titles and Subtitles	25
	 	(m) No Recourse	25
	 	(n) Counterparts; Facsimile Signatures	25







 


 


 


 





 


 




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This REGISTRATION RIGHTS AGREEMENT (this
“Agreement”) is entered into as of October 1, 2015, by and among Beacon Roofing Supply, Inc., a Delaware corporation
(the “Company”), CD&R Roadhouse Holdings, L.P., a Cayman exempted limited partnership, and any Person who
becomes a party hereto pursuant to Section 8(d) (each, a “CD&R Stockholder” and collectively, the
“CD&R Stockholders”). Capitalized terms used herein shall have the meaning assigned to such terms in the
text of this Agreement or in Section 1.


 


WHEREAS, pursuant to the Agreement
and Plan of Merger, dated as of July 27, 2015, (as such agreement may be amended from time to time, the “Merger
Agreement”) by and among the Company, Beacon Leadership Acquisition I, Inc., a Delaware corporation and a wholly
owned subsidiary of the Company, Beacon Leadership Acquisition II, LLC, a Delaware limited liability company and a wholly
owned subsidiary of the Company and CDRR Investors, Inc., a Delaware Corporation (“Roadhouse”), the
CD&R Stockholder acquired from the Company, and the Company has issued to the CD&R Stockholder, an aggregate of
8,536,500 shares of Common Stock, representing approximately 14.5% of all of the issued and outstanding shares of the
Company’s capital stock as of the date hereof; and


 


WHEREAS, the Company desires to provide
to the CD&R Stockholders rights to registration under the Securities Act of Registrable Securities, on the terms and subject
to the conditions set forth herein.


 


NOW, THEREFORE, in consideration of the
foregoing recitals and of the mutual promises hereinafter set forth, the parties hereto agree as follows:


 


AGREEMENT


 


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


 


“Affiliate”
means, with respect to any Person, any other Person directly or indirectly controlling, controlled by or under common control
with, such person.


 


“Agreement”
has the meaning given to such term in the Preamble.


 


“Automatic Shelf Registration
Statement” has the meaning given to such term in Section 2(d).


 


“Block Sale”
means the sale of shares of Common Stock to one or several purchasers in a registered transaction by means of a bought deal, a
block trade or a direct sale.


 


“Board” means
the Board of Directors of the Company.


 


“Business Day”
means any day that is not a Saturday, a Sunday or other day on which banks are required or authorized by law to be closed in New
York City.


 






      


     


    

 


“CD&R Stockholders”
means, collectively, CD&R Roadhouse Holdings, L.P., a Cayman exempted limited partnership, and any of its Affiliates to which
it transfers Registrable Securities pursuant to Section 8(d) hereof.


 


“Closing”
means the closing of the transactions contemplated by the Merger Agreement.


 


“Closing Date”
mean the date on which the Closing occurs.


 


“Common Stock”
means the common stock, par value $0.01 per share, of the Company, including any shares of capital stock into which the Common
Stock may be converted (as a result of recapitalization, share exchange or similar event) or are issued including with respect
to any stock split or stock dividend, or a successor security.


 


“Company”
has the meaning given to such term in the Preamble.


 


“control”
(including the terms “controlling”, “controlled by” and “under common control with”),
with respect to the relationship between or among two or more Persons, means the possession, directly or indirectly, of the power
to direct or cause the direction of the affairs or management of a Person, whether through the ownership of voting securities,
as trustee or executor, by contract or otherwise.


 


“Covered Person”
has the meaning given to such term in Section 5(a).


 


“Demand Registration”
has the meaning given to such term in Section 2(e).


 


“Demand Request”
has the meaning defined in Section 2(e).


 


“Exchange Act”
means the Securities Exchange Act of 1934, as amended, and any successor statute thereto and the rules and regulations of the
SEC promulgated thereunder.


 


“FINRA” means
the Financial Industry Regulatory Authority.


 


“Free Writing Prospectus”
has the meaning given to such term in Section 4(a).


 


“Holdback Period”
means, with respect to any registered offering covered by this Agreement 90 days after (or such shorter period as may be agreed
to by the managing underwriter(s) for such offering) and during the 10 days before, the effective date of the related Registration
Statement or, in the case of an underwritten takedown from a Shelf Registration Statement, 90 days after (or such shorter period
as may be agreed to by the managing underwriter(s) for such offering) the date of the Prospectus supplement filed with the SEC
in connection with such takedown and during such prior period (not to exceed 10 days) as the Company has given reasonable written
notice to the CD&R Stockholders holding Registrable Securities.


 


“including”
means “including without limitation”.


 






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“Indemnified Party”
has the meaning given to such term in Section 5(c).


 


“Indemnifying Party”
has the meaning given to such term in Section 5(c).


 


“Lock-Up Period”
shall mean the period commencing on the Closing Date and ending on the date that is 180 days after the Closing Date.


 


“Losses” has
the meaning given to such term in Section 5(a).


 


“Marketed Underwritten
Offering” shall mean (i) an Underwritten Offering pursuant to a Demand Registration or (ii) a Marketed Underwritten
Shelf Offering.


 


“Marketed Underwritten
Shelf Offering” has the meaning given to such term in Section 2(b).


 


“Merger Agreement”
has the meaning given to such term in the Recitals.


 


“Person” means
any individual, partnership, joint venture, corporation, limited liability company, trust, unincorporated organization, government
or any department or agency thereof or any other entity.


 


“Prospectus”
means the prospectus included in any Registration Statement (including a prospectus that discloses information previously omitted
from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the Securities
Act), as amended or supplemented by any prospectus supplement, relating to Registrable Securities, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be
incorporated by reference in such prospectus.


 


“Registration Expenses”
has the meaning given to such term in Section 6.


 


“Registrable Securities”
means (a) any Common Stock held by a CD&R Stockholder and (b) any equity securities or other equity interests
issued or issuable, directly or indirectly, with respect to the securities described in clause (a) by way of conversion or exchange
thereof or stock dividends, stock splits or in connection with a combination of shares, reclassification, recapitalization, merger,
consolidation or other reorganization. As to any particular Registrable Securities, once issued such securities shall cease to
be Registrable Securities when (i) they are disposed of pursuant to an effective Registration Statement under the Securities
Act, (ii) they are sold to the public pursuant to Rule 144 or Rule 145 (or other exemption from registration under the
Securities Act), (iii) they shall have ceased to be outstanding, or (iv) they have been sold in a private transaction.


 


“Registration Statement”
means any registration statement of the Company filed with the SEC under the Securities Act which covers any of the Registrable
Securities pursuant to the provisions of this Agreement, including any Prospectus, Free Writing Prospectus, amendments and supplements
to such registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or
deemed to be incorporated by reference in such registration statement.


 






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“Rule 144”
means Rule 144 under the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC.


 


“Rule 145”
means Rule 145 under the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC.


 


“Rule 405”
means Rule 405 under the Securities Act, as such rule may be amended from time to time, or any similar rule or regulation hereafter
adopted by the SEC.


 


“SEC” means
the U.S. Securities and Exchange Commission or any other federal agency at the time administering the Securities Act or the Exchange
Act.


 


“Securities Act”
means the Securities Act of 1933, as amended, and any successor statute thereto and the rules and regulations of the SEC promulgated
thereunder.


 


“Selling Expenses”
shall mean all underwriting and brokerage discounts, selling commissions, transfer taxes, if any, and the fees and expenses of
separate counsel and other advisors and agents, if any, to the CD&R Stockholders associated with the CD&R Stockholders
effecting any sales of Registrable Securities under any Registration Statement.


 


“Shelf Registration
Statement” has the meaning given to such term in Section 2(a).


 


“Shelf Takedown”
has the meaning given to such term in Section 2(b).


 


“Subsidiary”
means (i) any corporation of which a majority of the securities entitled to vote generally in the election of directors
thereof, at the time as of which any determination is being made, are owned by another entity, either directly or indirectly and
(ii) any joint venture, general or limited partnership, limited liability company or other legal entity in which an
entity is the record or beneficial owner, directly or indirectly, of a majority of the voting interests or the general partner.


 


“Underwritten Offering”
means an offering registered under the Securities Act in which securities of the Company are sold to one or more underwriters
on a firm-commitment basis for reoffering to the public.


 


“WKSI” has
the meaning given to such term in Section 2(d).


 






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2.            
Registration Rights.


 


(a)            
Shelf Registration. The Company shall file with the SEC and thereafter use its reasonable best efforts to cause
to be declared effective promptly upon the expiration of the Lock-Up Period a registration statement on Form S-3 or any comparable
or successor form or forms or any similar short-form registration constituting a “shelf” registration statement providing
for the registration of, and the sale by the CD&R Stockholders on a continuous or delayed basis of, all of the Registrable
Securities, pursuant to Rule 415 or otherwise (a “Shelf Registration Statement”).


 


(b)           
Shelf Takedowns. Subject to the provisions of Section 2(c) hereof, the CD&R Stockholders shall be entitled,
at any time and from time to time when a Shelf Registration Statement is effective, to sell such Registrable Securities held by
them as are then registered pursuant to a Shelf Registration Statement (each, a “Shelf Takedown”). The number
of Shelf Takedowns that the CD&R Stockholders may effect pursuant to this Section 2(b) shall not be limited, provided
that the number of Underwritten Offerings that may be effected hereunder shall be limited to a total of three (3) (less any Demand
Requests made pursuant to Section 2(e)), with only two (2) such Underwritten Offerings where the plan of distribution contemplates
a customary “road show” (including an “electronic road show”) or other substantial marketing effort by
the Company and the underwriters (any such Underwritten Offering, a “Marketed Underwritten Shelf Offering”).
Any such Shelf Takedown may be made in the United States by and pursuant to any method or combination of methods legally available
to the CD&R Stockholders (including an underwritten offering, a direct sale to purchasers, a sale to or through brokers, dealers
or agents, a sale over the internet, Block Sales, derivative transactions with third parties, sales in connection with short sales
and other hedging transactions). The Company shall comply with the applicable provisions of the Securities Act with respect to
the disposition of all Registrable Securities covered by the Shelf Registration Statement in accordance with the intended methods
of disposition by the CD&R Stockholders participating in such Shelf Takedown. The CD&R Stockholders selling any Registrable
Securities pursuant to a Shelf Takedown shall give the Company prompt written notice of the consummation of each Shelf Takedown
(whether or not such Shelf Takedown constitutes an Underwritten Offering).


 


(c)            
Cooperation with Shelf Takedowns. Upon receipt of prior written notice by the CD&R Stockholders that they intend
to effect a Shelf Takedown, the Company shall use its reasonable best efforts to cooperate in such Shelf Takedown, whether or
not such Shelf Takedown constitutes an Underwritten Offering, by amending or supplementing the Prospectus related to such Shelf
Registration Statement as may be reasonably requested by the CD&R Stockholders for so long as any CD&R Stockholders hold
Registrable Securities; provided that the Company shall not be obligated to cooperate in an Underwritten Offering to be
effected by means of a Block Sale if notice of such Underwritten Offering has not been delivered to the Company at least seven
(7) Business Days prior to the intended launch of such Block Sale.


 


(d)           
Automatic Shelf Registration Statements. To the extent the Company is a well-known seasoned issuer (as defined in
Rule 405) (a “WKSI”) at a time when it is obligated to file a Shelf Registration Statement pursuant to this
Agreement, the Company shall file an automatic shelf registration statement (as defined in Rule 405) on Form S-3 (an “Automatic
Shelf Registration Statement”) in accordance with the requirements of the Securities Act and the rules and regulations
of the SEC thereunder, that covers the Registrable Securities. The Company shall pay the registration fee for all Registrable
Securities to be registered pursuant to an Automatic Shelf Registration Statement at the time of filing of the Automatic Shelf
Registration Statement and shall not elect to pay any portion of the registration fee on a deferred basis. The Company shall use
its reasonable best efforts to remain a WKSI (and not to become an ineligible issuer (as defined in Rule 405)) during the period
during which any Automatic Shelf Registration Statement is effective. If at any time following the filing of an Automatic Shelf
Registration Statement when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI,
the Company shall use its reasonable best efforts to post-effectively amend the Automatic Shelf Registration Statement to a Shelf
Registration Statement that is not automatically effective or file a new Shelf Registration Statement or, if the Company is not
eligible at such time to file a Shelf Registration Statement, a Registration Statement on Form S-1; have such Registration Statement
declared effective by the SEC; and keep such Registration Statement effective during the period during which such Shelf Registration
Statement or Registration Statement on Form S-1 is required to be kept effective in accordance with Section 2(g) hereof.


 






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(e)            
Demand Rights. After the expiration of the Lock-up Period, in the event the Company ceases to be eligible to register
Registrable Securities on Form S-3 or has failed to perform its obligations under Section 2(a), the CD&R Stockholders shall
have the right on two (2) occasions (less the number of any Marketed Underwritten Shelf Offerings requested pursuant to Section
2(b)) to require the Company to file a registration statement under the Securities Act in respect of all or a portion of Registrable
Securities owned by the CD&R Stockholders (so long as such request covers at least $25,000,000 worth of the then current value
of shares of Common Stock), by delivering to the Company written notice stating that such right is being exercised, specifying
the number of Registrable Securities owned by the CD&R Stockholders to be included in such registration, and describing the
intended method of distribution thereof (each, a “Demand Request” and any registration effected pursuant thereto,
a “Demand Registration”). Notwithstanding the foregoing, the Company shall not be required to file any Registration
Statement pursuant to a Demand Request within 90 days after the effective date of a previous Demand Registration or any previous
Registration Statement in which the holders of Registrable Securities were given piggyback rights pursuant to Section 3
in which there was no reduction in the number of Registrable Securities to be included, and in each case, in which the sale of
the Registrable Securities included therein was consummated. The Company shall comply with the applicable provisions of the Securities
Act with respect to the disposition of all Registrable Securities covered by the Demand Registration in accordance with the intended
methods of disposition by the CD&R Stockholders.


 


(f)            
Effectiveness of Demand Registration. As promptly as practicable, but in no event later than 20 business days after
the Company receives a Demand Request pursuant to Section 2(e) hereof, the Company shall file with the SEC and thereafter
use its reasonable best efforts to cause to be declared effective promptly a registration statement on the appropriate form (it
being agreed that, subject to Section 2(l) hereof, such Registration Statement shall be an Automatic Shelf Registration
Statement, if then available to the Company) providing for the registration of such number of Registrable Securities the CD&R
Stockholders shall have requested be registered for distribution in accordance with such intended method of distribution; provided,
however, no sale shall be made by any CD&R Stockholder pursuant to any Demand Registration prior to the expiration
of the Lock-Up Period, except with the prior written consent of the Company. The Company shall comply in all material respects
with the applicable provisions of the Securities Act with respect to the disposition of all Registrable Securities covered by
any such registration statement in accordance with the intended method or methods of disposition by the CD&R Stockholders.


 






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(g)           
Continued Effectiveness. The Company shall use its reasonable best efforts to keep (A) any Shelf Registration
Statement filed pursuant to this Agreement continuously effective and usable for the resale of the Registrable Securities covered
thereby until the earlier of (i) three (3) years from the effective date of such Shelf Registration Statement and (ii)
the date on which all of the Registrable Securities covered by such Shelf Registration Statement have been sold pursuant to such
Shelf Registration Statement and (B) any Registration Statement filed pursuant to a Demand Request effective for a
period of at least 180 days after the effectiveness thereof or such shorter period during which all Registrable Securities included
therein shall have actually been sold (such period, the “Effective Period”); provided, however,
that in the event the Company suspends, postpones or delays the filing of a Registration Statement required to be filed pursuant
to this Agreement, the Effective Period shall be extended by the duration of each such applicable suspension, postponement or
delay.


 


(h)           
Priority on Demand Registration or Shelf Takedown. If any of the Registrable Securities registered pursuant to a
Demand Request or a Shelf Takedown are to be sold in a Marketed Underwritten Offering, and the managing underwriter(s) advise
the CD&R Stockholders that in its good faith opinion the total number or dollar amount of Registrable Securities proposed
to be sold in such Marketed Underwritten Offering (including securities proposed to be included by other holders of securities
entitled to include securities in such Registration Statement pursuant to incidental or piggyback registration rights), is such
as to adversely affect the success of such offering, then there shall be included in such Marketed Underwritten Offering the number
or dollar amount of Registrable Securities that in the good faith opinion of such managing underwriter(s) can be sold without
adversely affecting such offering, and such number of Registrable Securities shall be allocated as follows, unless the underwriters
require a different allocation:


 


(i)             
first, to the CD&R Stockholders requesting such registration pro rata on the basis of the percentage of Registrable
Securities owned by each such CD&R Stockholder relative to the number of Registrable Securities owned by all CD&R Stockholders,
until with respect to each such CD&R Stockholder, all Registrable Securities requested for registration by such Holders have
been included in such registration;


 


(ii)           
second, the securities for which inclusion in such Registration Statement was requested by the Company; and


 


(iii) third, Common Stock requested
by other holders of Common Stock (each, a “Piggybacking Holder”) to be included in such Marketed Underwritten
Offering, on a pro rata basis or in such other manner as such Piggybacking Holders shall agree.


 






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Notwithstanding the foregoing, no securities
other than Registrable Securities held by the CD&R Stockholders shall be eligible for inclusion in the total number or dollar
amount of Registrable Securities proposed to be sold in any Block Sale effected pursuant to Section 2(b) or Section
2(e) of this Agreement.


 


(i)             
Postponements in Requested Registrations. If the filing, initial effectiveness or continued use of a Registration
Statement, including a Shelf Registration Statement, filed hereunder would require the Company to make a public disclosure of
material non-public information, which disclosure in the good faith judgment of the Board (after consultation with external legal
counsel) (i) would be required to be made in any Registration Statement so that such Registration Statement would not be
materially misleading, (ii) would not be required to be made at such time but for the filing, effectiveness or continued
use of such Registration Statement or (iii) would reasonably be expected to adversely affect in any material respect the
Company or its business or the Company’s ability to effect a bona fide material proposed acquisition, disposition, financing,
reorganization, recapitalization or similar transaction, then the Company may, upon giving prompt written notice of such action
to the CD&R Stockholders participating in such registration, delay the filing or initial effectiveness of, or suspend use
of, such Registration Statement; provided that the Company shall not be permitted to do so (x) more than once in
any 6-month period or (y) for any single period of time in excess of 90 days, or for periods exceeding, in the aggregate,
90 days during any 12-month period. In the event that the Company exercises its rights under the preceding sentence, such CD&R
Stockholders agree to suspend, promptly upon receipt of the notice referred to above, the use of any Prospectus relating to such
registration in connection with any sale or offer to sell Registrable Securities. If the Company so postpones the filing of a
Prospectus or the effectiveness of a Registration Statement, the demanding CD&R Stockholder shall be entitled to withdraw
such request and, if such request is withdrawn, such registration request shall not count for the purposes of the limitations
set forth in Section 2(e). The Company shall promptly give the CD&R Stockholders requesting registration thereof
pursuant to this Section 2 written notice of any postponement made in accordance with the preceding sentence.


 


(j)             
Registration Expenses. The Company shall pay, and shall be responsible for, all Registration Expenses in connection
with any registrations and offerings pursuant to this Section 2, including any underwritten offering, direct sales to purchasers,
sales to or through brokers, dealers or agents, derivative transactions with third parties, sales in connection with short sales
and other hedging transactions, that are effectuated pursuant to this Section 2; provided, however, that
the CD&R Stockholders shall pay all Selling Expenses, if any, with respect to Registrable Securities sold by them.


 


(k)           
Selection of Underwriters. The lead underwriters of any Underwritten Offering effected pursuant to a Demand Registration
or a Shelf Takedown shall be selected by the CD&R Stockholders, subject to the consent, not to be unreasonably withheld, of
the Company. If the CD&R Stockholders intend that the Registrable Securities requested to be covered by a Demand Registration
shall be distributed by means of an Underwritten Offering, the CD&R Stockholders shall so advise the Company in writing. The
right of any CD&R Stockholder to participate in an Underwritten Offering pursuant to this Section 2 will be conditioned
upon such CD&R Stockholder’s participation in such underwriting and the inclusion of such CD&R Stockholder’s
Registrable Securities in the underwriting and each such CD&R Stockholder will (together with the Company and any Piggybacking
Holder distributing its securities through such underwriting) enter into an underwriting agreement in customary form with the
underwriter(s) selected for such underwriting (including pursuant to the terms of any over-allotment or “green shoe”
option requested by the managing underwriter(s)), provided that (A) no CD&R Stockholder shall be required to
sell more than the number of Registrable Securities that such CD&R Stockholder has requested the Company to include in any
registration and (B) if any CD&R Stockholder disapproves of the terms of the underwriting, such CD&R Stockholder
may elect to withdraw therefrom by written notice to the Company, the managing underwriter(s) and, in connection with an Underwritten
Offering pursuant to this Section 2, the other CD&R Stockholders, provided, further, that no such
Person (other than the Company) shall be required to make any representations or warranties other than (x) those related to the
title and ownership of, and power and authority to transfer, Registrable Securities and (y) those related to the accuracy and
completeness of statements made in a Registration Statement, Prospectus or other document in reliance upon, and in conformity
with, written information prepared and furnished to the Company or the managing underwriter(s) by such Person pertaining exclusively
to such CD&R Stockholder. Notwithstanding the foregoing, no CD&R Stockholder shall be required to agree to any indemnification
obligations on the part of such CD&R Stockholder that are greater than its obligations pursuant to Section 5.


 






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3.            
Piggyback Restrictions.


 


(a)            
Right to Piggyback. Whenever the Company proposes to register any of its securities for its own account (other than
(x) a registration pursuant to this Agreement or (y) a registration relating solely to employee benefit plans, or
relating to a registration relating solely to the sale of debt or convertible debt instruments) and the registration form to be
filed may be used for the registration or qualification for distribution of Registrable Securities, the Company will give written
notice at least fifteen (15) days before the anticipated filing date to the CD&R Stockholders of its intention to effect such
a registration and will include in such registration all Registrable Securities held by the CD&R Stockholders with respect
to which the Company has received from the CD&R Stockholder a written request for inclusion therein within ten (10) days after
the date of the Company’s notice (a “Piggyback Registration”). If the CD&R Stockholder has made such
a written request, it may withdraw its or any Registrable Securities from such Piggyback Registration by giving written notice
to the Company and the managing underwriter(s), if any, on or before the fifth (5th) day prior to the planned effective date of
such Piggyback Registration. The Company may terminate or withdraw any registration under this Section 3 prior to the effectiveness
of such registration, whether or not the CD&R Stockholder has elected to include Registrable Securities in such registration,
and, except for the obligation to pay Registration Expenses pursuant to Section 3(c), the Company will have no liability
to the CD&R Stockholder in connection with such termination or withdrawal.


 


(b)           
Underwritten Registration. If the registration referred to in Section 3(a) is proposed to be an Underwritten
Offering, the Company will so advise the CD&R Stockholders as a part of the written notice given pursuant to Section 3(a).
In such event, the right of any CD&R Stockholder to registration pursuant to this Section 3 will be conditioned upon
such CD&R Stockholder’s participation in such underwriting and the inclusion of such CD&R Stockholder’s Registrable
Securities in the underwriting, and any CD&R Stockholder that holds Registrable Securities that are to be sold in such offering
will (together with the Company and any other holders distributing their securities through such underwriting) enter into an underwriting
agreement in customary form with the underwriter or underwriters selected for such offering by the Company. If the CD&R Stockholder
disapproves of the terms of the underwriting, the CD&R Stockholder may elect to withdraw therefrom by written notice to the
Company and the managing underwriter(s).


 






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(c)            
Piggyback Registration Expenses. The Company will pay all Registration Expenses in connection with any Piggyback
Registration, whether or not any registration or prospectus becomes effective or final; provided, however, that
the CD&R Stockholders shall pay all Selling Expenses, if any, with respect to Registrable Securities sold by them.


 


(d)           
Priority on Primary Registrations. If a Piggyback Registration relates to a primary Underwritten Offering on behalf
of the Company, and the managing underwriter(s) advise the Company in writing that in their opinion the number of securities requested
to be included in such registration exceeds the number which can be sold without adversely affecting the marketability of such
offering, the Company will include in such registration or prospectus only such number of securities that in the opinion of such
underwriters can be sold without adversely affecting the marketability of the offering, which securities will be so included in
the following order of priority: (i) first, the securities the Company proposes to sell, (ii) second, the Registrable
Securities requested to be included in such registration by the CD&R Stockholders on a pro rata basis relative to the
total number of Registrable Securities requested to be included therein by all CD&R Stockholders, until with respect to each
such CD&R Stockholder, all Registrable Securities requested for registration by such CD&R Stockholders have been included
in such registration and (iii) third, Common Stock requested by any other persons to be included in the Piggyback Registration,
on a pro rata basis relative to the total number of Registrable Securities requested to be included in the Piggyback Registration
by such other requesting persons, or in such other manner as such other requesting persons shall agree.


 


(e)            
Priority on Secondary Registrations. If a Piggyback Registration relates to a secondary Underwritten Offering on
behalf of other holders of the Company’s securities, and the managing underwriter(s) advise the Company in writing that
in their opinion the number of securities requested to be included in such registration exceeds the number which can be sold without
adversely affecting the marketability of the offering, the Company will include in such registration only such number of securities
that in the opinion of such underwriters can be sold without adversely affecting the marketability of the offering, which securities
shall include securities requested to be included therein by the holder(s) making demand for such Underwritten Offering together
with any Registrable Securities requested to be included in such registration by the CD&R Stockholders on a pro rata basis
relative to the number of total shares of Common Stock requested to be included therein by such other holder(s) and the number
of Registrable Securities requested to be included therein by the CD&R Stockholders.


 


4.            
Registration Procedures. If and whenever the Company is required to use its reasonable best efforts to effect the
registration of any Registrable Securities under the Securities Act as provided in Section 2, the Company shall effect
such registration to permit the sale of such Registrable Securities in accordance with the intended method or methods of disposition
thereof, and pursuant thereto the Company shall cooperate in the sale of such Registrable Securities and shall, as expeditiously
as possible:


 






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(a)            
prepare and file, in each case as promptly as practicable, with the SEC a Registration Statement or Registration Statements
on such form as shall be available for the sale of the Registrable Securities by the CD&R Stockholders thereof or by the Company
in accordance with the intended method or methods of distribution thereof, make all required filings with FINRA, and, if such
Registration Statement is not automatically effective upon filing, use its reasonable best efforts to cause such Registration
Statement to be declared effective as soon as practicable and to remain effective as provided herein; provided, however,
that before filing a Registration Statement or Prospectus or any amendments or supplements thereto (including free writing prospectuses
under Rule 433 (each a “Free Writing Prospectus”)), the Company shall furnish or otherwise make available to
the CD&R Stockholders, their counsel and the managing underwriter(s), if any, copies of all such documents proposed to be
filed (including exhibits thereto), which documents will be subject to the reasonable review and comment of such counsel, and
such other documents reasonably requested by such counsel, including any comment letter from the SEC, and, if requested by such
counsel, provide such counsel reasonable opportunity to participate in the preparation of such Registration Statement and each
Prospectus included therein and such other opportunities to conduct a reasonable investigation within the meaning of the Securities
Act, including reasonable access to the Company’s books and records, officers, accountants and other advisors. The Company
shall not file any such Registration Statement or Prospectus, or any amendments or supplements thereto (including Free Writing
Prospectuses) with respect to a Demand Registration to which CD&R Stockholders or the managing underwriter(s), if any, shall
reasonably object, in writing, on a timely basis, unless, in the opinion of the Company, such filing is necessary to comply with
applicable law;


 


(b)           
prepare and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in
connection therewith and such Free Writing Prospectuses and Exchange Act reports as may be necessary to keep such Registration
Statement continuously effective during the period provided herein and comply in all material respects with the provisions of
the Securities Act with respect to the disposition of all securities covered by such Registration Statement; and cause the related
Prospectus to be supplemented by any Prospectus supplement as may be necessary to comply with the provisions of the Securities
Act with respect to the disposition of the securities covered by such Registration Statement, and as so supplemented to be filed
pursuant to Rule 424 (or any similar provisions then in force) under the Securities Act in each case, until such time as all of
such securities have been disposed of in accordance with the intended method or methods of disposition by the seller or sellers
thereof set forth in such Registration Statement;


 


(c)            
notify each selling CD&R Stockholder of Registrable Securities, its counsel and the managing underwriter(s) of any
Underwritten Offering (i) when an Registration Statement, pre-effective amendment to any Registration Statement, Prospectus
or any Prospectus supplement or post-effective amendment or any Free Writing Prospectus has been filed, and, with respect to a
Registration Statement or any post-effective amendment, when the same has become effective, (ii) of any request by the
SEC or any other federal or state governmental authority for amendments or supplements to a Registration Statement or related
Prospectus or for additional information, (iii) of the issuance by the SEC of any stop order suspending the effectiveness
of such Registration Statement or the initiation or threatening of any proceedings for that purpose, (iv) if at any time
the Company has reason to believe that the representations and warranties of the Company contained in any agreement (including
any underwriting agreement) contemplated by Section 4(n) below cease to be true and correct, (v) of the receipt
by the Company of any notification with respect to the suspension of the qualification or exemption from qualification of such
Registrable Securities for sale in any jurisdiction, or the initiation of any proceeding for such purpose, and (vi) of
the happening of any event that makes any statement made in such Registration Statement or related Prospectus, Free Writing Prospectus,
amendment or supplement thereto, or any document incorporated or deemed to be incorporated therein by reference, as then in effect,
untrue in any material respect or that requires the making of any changes in such Registration Statement, Prospectus or documents
so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein, not misleading, and that in the case
of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact necessary in
order to make the statements therein, in the light of the circumstances under which they were made, not misleading (which notice
shall notify the selling CD&R Stockholders only of the occurrence of such an event and shall provide no additional information
regarding such event to the extent such information would constitute material non-public information);


 






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(d)           
use its reasonable best efforts to obtain the withdrawal of any order suspending the effectiveness of a Registration Statement,
or the lifting of any suspension of the qualification (or exemption from qualification) of any of the Registrable Securities for
sale in any jurisdiction at the earliest date reasonably practical;


 


(e)            
if requested by the CD&R Stockholders, or, in the case of an Underwritten Offering, the managing underwriter(s) of
such Underwritten Offering, promptly include in a Prospectus supplement or post-effective amendment such information as the CD&R
Stockholders or such managing underwriter(s), as the case may be, may reasonably request in order to facilitate the disposition
of the Registrable Securities in accordance with the intended method or methods of distribution of such securities set forth in
the Registration Statement and make all required filings of such Prospectus supplement or such post-effective amendment as soon
as practicable after the Company has received such request; provided, however, that the Company shall not be required
to take any actions under this Section 4(e) that are not, in the opinion of counsel for the Company, in compliance
with applicable law;


 


(f)            
deliver to each selling CD&R Stockholder of Registrable Securities, its counsel, and the underwriters, if any, without
charge, as many copies of the Prospectus or Prospectuses (including each form of Prospectus) and each amendment or supplement
thereto (including any Free Writing Prospectus) as such Persons may reasonably request from time to time in order to facilitate
the disposition of the Registrable Securities in accordance with the intended method or methods of disposition thereof; and the
Company, subject to the last paragraph of this Section 4, hereby consents to the use of such Prospectus and each amendment
or supplement thereto by each of the selling CD&R Stockholders of Registrable Securities and the underwriters, if any, in
connection with the offering and sale of the Registrable Securities covered by such Prospectus and any such amendment or supplement
thereto;


 






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(g)           
use its reasonable best efforts to register or qualify or cooperate with the selling CD&R Stockholders of Registrable
Securities, the underwriters, if any, and their respective counsel in connection with the registration or qualification (or exemption
from such registration or qualification) of such Registrable Securities for offer and sale under the securities or blue sky laws
of such jurisdictions within the United States as any seller or underwriter reasonably requests in writing and to keep each such
registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to
be kept effective and to take any other action that may be necessary or advisable to enable such CD&R Stockholders of Registrable
Securities to consummate the disposition of such Registrable Securities in such jurisdiction in accordance with the intended method
or methods of disposition thereof; provided, however, that the Company will not be required to (i) qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this Section 4(g),
(ii) subject itself to taxation in any jurisdiction wherein it is not so subject or (iii) take any action that would
subject it to general service of process in any such jurisdiction where it is not then so subject;


 


(h)           
cooperate with the selling CD&R Stockholders of Registrable Securities and the managing underwriter(s), if any, to
facilitate the timely preparation and delivery of certificates (not bearing any legends) representing Registrable Securities to
be sold after receiving written representations from each CD&R Stockholder of such Registrable Securities that the Registrable
Securities represented by the certificates so delivered by such CD&R Stockholder will be transferred in accordance with the
Registration Statement, and enable such Registrable Securities to be in such denominations and registered in such names as the
managing underwriter(s), if any, or CD&R Stockholders may request at least two Business Days prior to any sale of Registrable
Securities in a firm commitment public offering, but in any other such sale, within 10 Business Days prior to having to issue
the securities;


 


(i)             
upon the occurrence of any event contemplated by Section 4(c)(vi) above, prepare a supplement or post-effective
amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be
incorporated therein by reference, or file any other required document so that, as thereafter delivered to the purchasers of the
Registrable Securities being sold thereunder, such Prospectus will not contain an untrue statement of a material fact or omit
to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading;


 


(j)             
provide and cause to be maintained a transfer agent and registrar for all such Registrable Securities from and after the
effective date of such Registration Statement;


 






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(k)           
use its reasonable best efforts to cause all shares of Registrable Securities covered by any Registration Statement to
be listed on each primary national securities exchange (if any) on which shares of the particular class of Registrable Securities
are at that time listed;


 


(l)             
in the case of any Underwritten Offering in which any CD&R Stockholder participates, enter into an underwriting agreement
containing such provisions (including provisions for indemnification, lockups, opinions of counsel and comfort letters), and take
all such other customary and reasonable actions as the managing underwriters of such offering may request in order to facilitate
the disposition of such Registrable Securities, including adding information requested by the managing underwriters to the Prospectus,
and making such representations and warranties to the holders of such Registrable Securities and the underwriters, if any, with
respect to the business of the Company and its material subsidiaries, and the Registration Statement, Prospectus and documents,
if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily
made by issuers to underwriters in underwritten offerings, and, if true, confirm the same if and when requested;


 


(m)         
in the case of any Underwritten Offering in which any CD&R Stockholder participates, (A) make reasonably available,
for inspection by the managing underwriters of such Underwritten Offering and one law firm and accounting firm acting for such
managing underwriters, pertinent corporate documents and financial and other records of the Company and its subsidiaries and controlled
Affiliates, (B) cause the Company’s officers and employees to supply information reasonably requested by such managing underwriters
or law firm or accounting firm in connection with such offering, (C) make the Company’s independent auditor available for
any such managing underwriters’ due diligence and have them provide customary comfort letters to such underwriters in connection
therewith and to each CD&R Stockholder selling Registrable Securities in such offering (unless such accountants shall be prohibited
from so addressing such letters by applicable standards of the accounting profession) and (D) cause the Company’s outside
counsel to furnish customary legal opinions and updates thereof (which legal opinions (in form, scope and substance) shall be
reasonably satisfactory to the managing underwriter(s)) to such underwriters, covering the matters customarily covered in opinions
requested in underwritten offerings and such other matters as may be reasonably requested by such counsel and underwriters; provided,
however, that any such records and other information provided under clauses (A) and (B) above that is not generally publicly
available shall be subject to such confidential treatment as is customary for underwriters’ due diligence reviews;


 


(n)           
in the case of any Underwritten Offering in which any CD&R Stockholder participates, cause its management to use their
reasonable best efforts to support the marketing of the Registrable Securities covered by the Registration Statement (including
participation in such number of “road shows” as the underwriter(s) reasonably request, and in any management diligence
meetings or teleconferences as the underwriter(s) or their counsel reasonably request);


 






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(o)           
cooperate with each seller of Registrable Securities and each underwriter or agent participating in the disposition of
such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA; and


 


(p)           
otherwise use its reasonable best efforts to comply with all applicable rules and regulations of the SEC, and make available
to its security holders, as soon as reasonably practicable, an earnings statement covering the period of at least twelve months
beginning with the first day of the Company’s first full calendar quarter after the effective date of any Registration Statement,
which earnings statement will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder.


 


The Company may require each CD&R Stockholder
of Registrable Securities as to which any registration is being effected to furnish to the Company in writing such information
required in connection with such registration regarding such seller and the distribution of such Registrable Securities as the
Company may, from time to time, reasonably request and the Company may exclude from such registration the Registrable Securities
of any CD&R Stockholder who unreasonably fails to furnish such information within a reasonable time after receiving such request.


 


The Company agrees not to file or make
any amendment to any Registration Statement with respect to any Registrable Securities, or any amendment of or supplement to the
Prospectus or any Free Writing Prospectus used in connection therewith, that refers to any CD&R Stockholder covered thereby
by name, or otherwise identifies such CD&R Stockholder as the holder of any securities of the Company, without first furnishing
or otherwise making available to such CD&R Stockholder a copy of any such amendment or supplement no less than five Business
Days prior to the filing of such amendment or supplement (unless and to the extent such amendment or supplement is required by
law to be filed earlier) and including all comments reasonably and timely requested by such CD&R Stockholder thereon.


 


If the Company files any Shelf Registration
Statement for the benefit of the holders of any of its securities other than the CD&R Stockholders, the Company agrees that
it shall use its reasonable best efforts to include in such registration statement such disclosures as may be required by Rule
430B under the Securities Act (referring to the unnamed selling security holders in a generic manner by identifying the initial
offering of the securities to the CD&R Stockholders) in order to ensure that the CD&R Stockholders may be added to such
Shelf Registration Statement at a later time through the filing of a Prospectus supplement rather than a post-effective amendment.


 


Each CD&R Stockholder holding Registrable
Securities agrees if such CD&R Stockholder has Registrable Securities covered by such Registration Statement that, upon receipt
of any notice from the Company of the happening of any event of the kind described in Sections 4(c)(ii), 4(c)(iii),
4(c)(iv), 4(c)(v) and 4(c)(vi) hereof, such CD&R Stockholder will promptly discontinue disposition of
such Registrable Securities covered by such Registration Statement or Prospectus until such CD&R Stockholder’s receipt
of the copies of the supplemented or amended Prospectus contemplated by Section 4(i) hereof, or until it is advised
in writing by the Company that the use of the applicable Prospectus may be resumed, and has received copies of any additional
or supplemental filings that are incorporated or deemed to be incorporated by reference in such Prospectus; provided, however,
that the time periods under Section 2 with respect to the length of time that the effectiveness of a Registration
Statement must be maintained shall automatically be extended by the amount of time the CD&R Stockholder is required to discontinue
disposition of such securities.


 






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5.            
Indemnification.


 


(a)            
Indemnification by the Company. The Company shall, without limitation as to time, indemnify and hold harmless, to
the fullest extent permitted by law, each CD&R Stockholder of Registrable Securities whose Registrable Securities are covered
by a Registration Statement or Prospectus, the officers, directors, partners, members, managers, shareholders, accountants, attorneys,
agents and employees of each of them, each Person who controls (within the meaning of Section 15 of the Securities Act or
Section 20 of the Exchange Act) each such CD&R Stockholder and the officers, directors, partners, members, managers,
shareholders, accountants, attorneys, agents and employees of each such controlling person, each underwriter, if any, and each
Person who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) such
underwriter (each such person being referred to herein as a “Covered Person”), from and against any and all
losses, claims, damages, liabilities, costs (including costs of preparation and reasonable attorneys’ fees and any legal
or other fees or expenses incurred by such party in connection with any investigation or proceeding), expenses, judgments, fines,
penalties, charges and amounts paid in settlement (collectively, “Losses”), as incurred, arising out of or
based upon any untrue or alleged untrue statement of a material fact contained in any Prospectus, Registration Statement or Free
Writing Prospectus or any amendment thereof or supplement thereto or any document incorporated by reference therein or based on
any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein not misleading, or any violation by the Company of the Securities Act, the Exchange Act, any state securities law, or
any rule or regulation thereunder applicable to the Company and relating to any action or inaction in connection with the related
offering of Registrable Securities, and will reimburse each such Covered Person for any legal and any other expenses reasonably
incurred in connection with investigating and defending or settling any such Loss, provided that the Company will not be
liable in any such case to the extent that any such Loss arises out of or is based on any untrue statement or omission by such
Covered Person relating to such Covered Person or its Affiliates (other than the Company or any of its Subsidiaries), but only
to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such Registration
Statement, Prospectus, Free Writing Prospectus or any amendment thereof or supplement thereto, or any document incorporated by
reference therein, in each case in reliance upon and in conformity with written information furnished to the Company by such Covered
Person with respect to such Covered Person for use therein. It is agreed that the indemnity agreement contained in this Section 5(a)
shall not apply to amounts paid in settlement of any such Loss or action if such settlement is effected without the consent
of the Company (which consent shall not be unreasonably withheld).


 


(b)           
Indemnification by CD&R Stockholder of Registrable Securities. As a condition to including any Registrable Securities
in any Registration Statement filed in accordance with Section 4 hereof, the Company shall have received an undertaking
reasonably satisfactory to it from the prospective seller of such Registrable Securities to indemnify, to the fullest extent permitted
by law, severally and not jointly with any other CD&R Stockholders holding Registrable Securities, the Company, its directors
and officers and each Person who controls (within the meaning of Section 15 of the Securities Act and Section 20 of
the Exchange Act) the Company and all other prospective sellers, from and against all Losses arising out of or based on any untrue
or alleged untrue statement of a material fact contained in any such Registration Statement, Prospectus or Free Writing Prospectus
or any amendment thereof or supplement thereto, or any document incorporated by reference therein, or any omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading,
and will reimburse the Company, such directors, controlling persons and prospective sellers for any legal or any other expenses
reasonably incurred in connection with investigating or defending any such Loss, in each case to the extent, but only to the extent,
that such untrue statement or omission is made in such Registration Statement, Prospectus or Free Writing Prospectus or any amendment
thereof or supplement thereto, or any document incorporated by reference therein, in each case in reliance upon and in conformity
with written information furnished to the Company by such CD&R Stockholder with respect to such CD&R Stockholder for inclusion
in such Registration Statement, Prospectus or Free Writing Prospectus or any amendment thereof or supplement thereto, or any document
incorporated by reference therein; provided, however, that the obligations of such CD&R Stockholder hereunder
shall not apply to amounts paid in settlement of any such Losses (or actions in respect thereof) if such settlement is effected
without the consent of such CD&R Stockholder (which consent shall not be unreasonably withheld); and provided, further,
that the liability of such CD&R Stockholder of Registrable Securities shall be limited to the net proceeds received by such
selling CD&R Stockholder from the sale of Registrable Securities covered by such Registration Statement.


 






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(c)            
Conduct of Indemnification Proceedings. If any Person shall be entitled to indemnity hereunder (an “Indemnified
Party”), such Indemnified Party shall give prompt notice to the party from which such indemnity is sought (the “Indemnifying
Party”) of any claim or of the commencement of any proceeding with respect to which such Indemnified Party seeks indemnification
or contribution pursuant hereto; provided, however, that the delay or failure to so notify the Indemnifying Party
shall not relieve the Indemnifying Party from any obligation or liability except to the extent that the Indemnifying Party has
been materially prejudiced by such delay or failure. The Indemnifying Party shall have the right, exercisable by giving written
notice to an Indemnified Party promptly after the receipt of written notice from such Indemnified Party of such claim or proceeding,
to, unless in the Indemnified Party’s reasonable judgment a conflict of interest between such indemnified and indemnifying
parties may exist in respect of such claim, assume, at the Indemnifying Party’s expense, the defense of any such claim or
proceeding, with counsel reasonably satisfactory to such Indemnified Party; provided, however, that an Indemnified
Party shall have the right to employ separate counsel in any such claim or proceeding and to participate in the defense thereof,
but the fees and expenses of such counsel shall be at the expense of such Indemnified Party unless: (i) the Indemnifying
Party agrees to pay such fees and expenses; or (ii) the Indemnifying Party fails promptly to assume, or in the event of
a conflict of interest cannot assume, the defense of such claim or proceeding or fails to employ counsel reasonably satisfactory
to such Indemnified Party; in which case the Indemnified Party shall have the right to employ counsel and to assume the defense
of such claim or proceeding at the Indemnifying Party’s expense; provided, further, however, that the
Indemnifying Party shall not, in connection with any one such claim or proceeding or separate but substantially similar or related
claims or proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for the
fees and expenses of more than one firm of attorneys (together with appropriate local counsel) at any time for all of the Indemnified
Parties, or for fees and expenses that are not reasonable. Whether or not such defense is assumed by the Indemnifying Party, such
Indemnifying Party will not be subject to any liability for any settlement made without its consent (but such consent will not
be unreasonably withheld). The Indemnifying Party shall not consent to entry of any judgment or enter into any settlement that
(x) does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party
of a release, in form and substance reasonably satisfactory to the Indemnified Party, from all liability in respect of such claim
or litigation for which such Indemnified Party would be entitled to indemnification hereunder or (y) involves the imposition
of equitable remedies or the imposition of any obligations on the Indemnified Party or adversely affects such Indemnified Party
other than as a result of financial obligations for which such Indemnified Party would be entitled to indemnification hereunder.


 






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(d)           
Contribution. If the indemnification provided for in this Section 5 is unavailable to an Indemnified
Party in respect of any Losses (other than in accordance with its terms), then each applicable Indemnifying Party, in lieu of
indemnifying such Indemnified Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
Losses, in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party, on the one hand, and such
Indemnified Party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as
well as any other relevant equitable considerations. The relative fault of such Indemnifying Party, on the one hand, and Indemnified
Party, on the other hand, shall be determined by reference to, among other things, whether any action in question, including any
untrue or alleged untrue statement of a material fact or omission or alleged omission to state a material fact, has been made
(or omitted) by, or relates to information supplied by, such Indemnifying Party or Indemnified Party, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent any such action, statement or omission.


 


The parties hereto agree that it would
not be just and equitable if contribution pursuant to this Section 5(d) were determined by pro rata allocation or
by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding
paragraph. Notwithstanding the provisions of this Section 5(d), an Indemnifying Party that is a selling CD&R Stockholder
holding Registrable Securities shall not be required to contribute any amount in excess of the amount that such Indemnifying Party
has otherwise been, or would otherwise be, required to pay pursuant to Section 5(b) by reason of such untrue or alleged
untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.


 


Notwithstanding the foregoing, to the extent
that the provisions on indemnification and contribution contained in the underwriting agreement entered into in connection with
the underwritten public offering are in conflict with the foregoing provisions, the provisions in the underwriting agreement shall
control.


 






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(e)            
Non-Exclusivity. The obligations of the parties under this Section 5 shall be in addition to any liability
which any party may otherwise have to any other party.


 


6.             
Registration Expenses. All fees and expenses incurred in the performance of or compliance with this Agreement by
the Company including (i) all registration and filing fees (including fees and expenses (A) with respect to filings
required to be made with the SEC, all applicable securities exchanges and/or FINRA and (B) of compliance with securities
or blue sky laws, including any fees and disbursements of counsel for the underwriters in connection with blue sky qualifications
of the Registrable Securities pursuant to Section 4(g)), (ii) printing expenses (including expenses of printing
certificates for Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses
if the printing of Prospectuses is requested by the managing underwriter(s), if any, of an Underwritten Offering, or by the CD&R
Stockholders, (iii) messenger, telephone and delivery expenses of the Company, (iv) fees and disbursements of counsel
for the Company, (v) expenses of the Company incurred in connection with any road show, and (vi) fees and disbursements
of all independent registered public accounting firms referred to in Section 4(m) hereof (including the expenses of
any “cold comfort” letters required by this Agreement) and any other persons, including special experts retained by
the Company, shall be borne by the Company whether or not any Registration Statement is filed or becomes effective (all such expenses,
“Registration Expenses”). In addition, the Company shall pay its internal expenses (including all salaries
and expenses of its officers and employees performing legal or accounting duties), the expense of any annual audit, the fees and
expenses incurred in connection with the listing of the securities to be registered on any securities exchange on which similar
securities issued by the Company are then listed and rating agency fees and the fees and expenses of any Person, including special
experts, retained by the Company.


 


The Company shall not be required to pay
(i) fees and disbursements of any counsel retained by any CD&R Stockholder holding Registrable Securities or by any
underwriter, (ii) any underwriter’s fees (including discounts, commissions or fees of underwriters, selling brokers,
dealer managers or similar securities industry professionals) relating to the distribution of the Registrable Securities (other
than with respect to Registrable Securities sold by the Company), (iii) expenses (other than the Company’s internal
expenses) in connection with any offering pursuant to a Demand Request or Shelf Takedown begun pursuant to Section 2, the
request of which has been subsequently withdrawn by the demanding CD&R Stockholder unless (x) the withdrawal is based
upon (A) any fact, circumstance, event, change, effect or occurrence that individually or in the aggregate with all other
facts or circumstances, events, changes, effects or occurrences has a material adverse effect on the Company or (B) material
adverse information concerning the Company that the Company had not publicly disclosed at least forty-eight (48) hours prior to
such registration request or that the Company had not otherwise notified, in writing, the demanding CD&R Stockholder of at
the time of such request, (y) the CD&R Stockholder issuing such Demand Request or requesting such Shelf Takedown, as
applicable, has not withdrawn two Demand Requests relating to Underwritten Offerings of a type not covered by the foregoing clauses
(iii)(x)(A) or (iii)(x)(B) or (z) after the demanding CD&R Stockholder’s withdrawal of two such Demand Requests
where such withdrawal is not covered by clauses (iii)(x)(A) or (iii)(x)(B), such demanding CD&R Stockholder agrees to forfeit
its right to one Demand Registration pursuant to Section 2 with respect to the limit set forth in Section 2(e)
or (iv) any other expenses of the CD&R Stockholders holding Registrable Securities not specifically required to
be paid by the Company pursuant to the first paragraph of this Section 6.


 






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7.             
Rule 144. The Company covenants that it will file the reports required to be filed by it under the Securities Act
and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such
reports, it will, upon the request of any of the CD&R Stockholders, make publicly available such information so long as necessary
to permit sales of Registrable Securities pursuant to Rule 144), and it will take such further action as any CD&R Stockholder
of Registrable Securities (or, if the Company is not required to file reports as provided above, any of the CD&R Stockholders)
may reasonably request, all to the extent required from time to time to enable such CD&R Stockholder to sell shares of Registrable
Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144. Upon the
request of any CD&R Stockholder of Registrable Securities, the Company will deliver to such CD&R Stockholder a written
statement as to whether it has complied with such requirements and will, within the limitations of the exemption provided by Rule
144 (as such rule may be amended from time to time) or any similar rule enacted by the Commission, instruct the transfer agent
to remove the restrictive legend affixed to any Common Stock to enable such shares to be sold in compliance with Rule 144 (as
such rule may be amended from time to time) or any similar rule enacted by the Commission.


 


8.            
Miscellaneous.


 


(a)            
Termination. The provisions of this Agreement (other than Section 5) shall terminate upon the earliest
to occur of (i) its termination by the written agreement of all parties hereto or their respective successors in interest,
(ii) the date on which the CD&R Stockholders cease to own any Common Stock and (iii) the dissolution, liquidation
or winding up of the Company. Nothing herein shall relieve any party from any liability for the breach of any of the agreements
set forth in this Agreement.


 


(b)           
Holdback Agreement. In consideration for the Company agreeing to its obligations under this Agreement, each CD&R
Stockholder agrees in connection with any Underwritten Offering of the Company’s Common Stock (whether or not such CD&R
Stockholder is participating in such transaction) upon the request of the Company and the underwriter(s) managing such Underwritten
Offering, not to effect (other than pursuant to such registration) any public sale or distribution of Common Stock, including,
but not limited to, any sale pursuant to Rule 144, or make any short sale of, loan, grant any option for the purchase of, or otherwise
dispose of, or enter into any swap or other arrangement that transfers to another Person any of the economic consequences of ownership
of, any Common Stock, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable
for any equity securities of the Company without the prior written consent of the Company or such underwriters, as the case may
be, during the Holdback Period.


 


If any registration pursuant to Section 2
of this Agreement shall be in connection with any Underwritten Offering, the Company will not effect any public sale or distribution
of any common equity (or securities convertible into or exchangeable or exercisable for common equity) (other than a registration
statement (i) on Form S-4, Form S-8 or any successor forms promulgated for similar purposes or (ii) filed in connection
with an exchange offer or any employee benefit or dividend reinvestment plan) for its own account, during the Holdback Period.


 






    20 


     


    

 


(c)            
Amendments and Waivers. This Agreement may be amended and the Company may take any action herein prohibited, or
omit to perform any act herein required to be performed by it, only if any such amendment, action or omission to act, has received
the written consent of the Company and each of the CD&R Stockholders. The failure of any party to enforce any of the provisions
of this Agreement shall in no way be construed as a waiver of such provisions and shall not affect the right of such party thereafter
to enforce each and every provision of this Agreement in accordance with its terms. Any CD&R Stockholder may waive (in writing)
the benefit of any provision of this Agreement with respect to itself for any purpose. Any such waiver shall constitute a waiver
only with respect to the specific matter described in such writing and shall in no way impair the rights of the CD&R Stockholder
granting such waiver in any other respect or at any other time.


 


(d)           
Successors, Assigns and Transferees. This Agreement may not be assigned without the prior written consent of the
Company. Notwithstanding the foregoing, the CD&R Stockholder may assign its rights hereunder to Clayton, Dubilier & Rice
Fund VIII, L.P., or any Affiliate thereof, or any other entity that is managed by Clayton, Dubilier & Rice, LLC; provided,
however, that no CD&R Stockholder may assign its rights hereunder to any limited partner of an investment fund (including
Clayton, Dubilier & Rice Fund VIII, L.P. or any Affiliated investment fund) managed by Clayton, Dubilier & Rice, LLC.
The CD&R Stockholders acknowledge that no limited partner of an investment fund managed by Clayton, Dubilier & Rice, LLC
will be deemed to be a CD&R Stockholder for purposes of this Agreement.


 


(e)            
Notices. All notices, requests and other communications to any party hereunder shall be in writing (including facsimile
transmission) and shall be given:


 


If to the Company, to:



Beacon Roofing Supply, Inc.





505 Huntmar Park Drive, Suite 300





Herndon, Virginia 20170





Attention:Joe Nowicki

Facsimile:(703) 437-1919

E-mail:jnowicki@becn.com





 


with a copy (which shall not constitute notice) to:




Beacon Roofing Supply, Inc.





5244 River Road, Second Floor





Bethesda, Maryland 20816





Attention:Ross D. Cooper

Facsimile:(301) 272-2125

E-mail:rcooper@becn.com


 


 







    21 


     


    



if to a CD&R Stockholder, to:



c/o Clayton, Dubilier & Rice, LLC

375 Park Avenue





18th Floor

New York, New York 10152








	Attention:	Nate Sleeper
	 	JL Zrebiec
	Facsimile:	(212) 407-5252




 


with a copy (which shall not constitute notice) to:



Debevoise & Plimpton LLP

919 Third Avenue

New York, NY 10022








	Attention:	Margaret Andrews Davenport
	 	Michael A. Diz
	Facsimile: 	(212) 909-7667
	 	(212) 909-6836










E-mail: madavenport@debevoise.com

             madiz@debevoise.com


 


or such other address or facsimile number as such party may
hereafter specify for the purpose by notice to the other parties hereto.


 


All such notices, requests and other communications
shall be deemed received on the date of receipt by the recipient thereof if received prior to 5:00 p.m. on a Business Day in the
place of receipt. Otherwise, any such notice, request or communication shall be deemed to have been received on the next succeeding
Business Day in the place of receipt.


 


(f)            
Further Assurances. At any time or from time to time after the date hereof, the parties agree to cooperate with
each other, and at the request of any other party, to execute and deliver any further instruments or documents and to take all
such further action as the other party may reasonably request in order to evidence or effectuate the consummation of the transactions
contemplated hereby and to otherwise carry out the intent of the parties hereunder.


 


(g)           
No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its securities
which is inconsistent with or violates the rights granted to the holders of Registrable Securities in this Agreement.


 


(h)           
Entire Agreement; No Third Party Beneficiaries. This Agreement (i) constitutes the entire agreement among
the parties with respect to the subject matter of this Agreement and supersede any prior discussions, correspondence, negotiation,
proposed term sheet, agreement, understanding or agreement and there are no agreements, understandings, representations or warranties
between the parties other than those set forth or referred to in this Agreement and (ii) except as provided in Section 5
with respect to an Indemnified Party, is not intended to confer in or on behalf of any Person not a party to this Agreement
(and their successors and assigns) any rights, benefits, causes of action or remedies with respect to the subject matter or any
provision hereof.


 






    22 


     


    

 


(i)             
Governing Law; Jurisdiction and Forum; Waiver of Jury Trial.


 


(i)             
This Agreement shall be governed by and construed in accordance with the laws of the State of New York applicable to contracts
executed and to be performed wholly within such State and without reference to the choice-of-law principles that would result
in the application of the laws of a different jurisdiction.


 


(ii)           
Each party to this Agreement irrevocably submits to the jurisdiction of the United States District Court for the Southern
District of New York or any court of the State of New York located in such district any suit, action or other proceeding arising
out of or relating to this Agreement, and hereby irrevocably agrees that all claims in respect of such suit, action or proceeding
may be heard and determined in such court. Each party to this Agreement hereby irrevocably waives, to the fullest extent that
it may effectively do so, the defense of an inconvenient forum to the maintenance of such suit, action or other proceeding. The
parties further agree, to the extent permitted by law, that final and unappealable judgment against any of them in any suit, action
or other proceeding contemplated above shall be conclusive and may be enforced in any other jurisdiction within or outside the
United States by suit on the judgment, a certified copy of which shall be conclusive evidence of the fact and amount of such judgment.


 


(iii)         
EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF
ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.


 


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


 


(k)           
Enforcement. Each party hereto acknowledges that money damages would not be an adequate remedy in the event that
any of the covenants or agreements in this Agreement are not performed in accordance with its terms, and it is therefore agreed
that in addition to and without limiting any other remedy or right it may have, the non-breaching party will have the right to
an injunction, temporary restraining order or other equitable relief in any court of competent jurisdiction enjoining any such
breach and enforcing specifically the terms and provisions hereof. In any action or proceeding brought to enforce any provision
of this Agreement, the successful party shall be entitled to recover reasonable attorneys’ fees in addition to its costs
and expenses and other available remedies.


 






    23 


     


    

 


(l)             
Titles and Subtitles. The titles of the sections and subsections of this Agreement are for convenience of reference
only and will not affect the meaning or interpretation of this Agreement.


 


(m)         
No Recourse. Notwithstanding anything that may be expressed or implied in this Agreement, the Company and each CD&R
Stockholder covenant, agree and acknowledge that no recourse under this Agreement or any documents or instruments delivered in
connection with this Agreement shall be had against any current or future director, officer, employee, shareholder, general or
limited partner or member of any CD&R Stockholder or of any Affiliate or assignee thereof, whether by the enforcement of any
assessment or by any legal or equitable proceeding, or by virtue of any statute, regulation or other applicable law, it being
expressly agreed and acknowledged that no personal liability whatsoever shall attach to, be imposed on or otherwise be incurred
by any current or future director, officer, employee, shareholder, general or limited partner or member of any CD&R Stockholder
or of any Affiliate or assignee thereof, as such for any obligation of any CD&R Stockholder under this Agreement or any documents
or instruments delivered in connection with this Agreement for any claim based on, in respect of or by reason of such obligations
or their creation.


 


(n)           
Counterparts; Facsimile Signatures. This Agreement may be executed in any number of counterparts (including via
facsimile and electronic transmission), each of which shall be an original, but all of which together shall constitute one instrument.
This Agreement may be executed by facsimile signature(s).


 


[Remainder of page left intentionally blank]


 


 


 




    24 


     


    

IN WITNESS WHEREOF, each of the undersigned
has executed this Agreement or caused this Agreement to be duly executed on its behalf as of the date first written above.


 





	 	Beacon Roofing Supply,
    Inc.
	 	 
	 	 
	 	By: 	/s/ Ross D. Cooper
	 	Name:	Ross D. Cooper
	 	Title:	Sr. Vice President,
General Counsel & Secretary


 


 


 


 


 





[Signature Page to Registration Rights
Agreement]


 









    


     


    

 


 


	 	CD&R Roadhouse
Holdings, L.P.
	 	 
	 	By:	CD&R Associates VIII, Ltd.,
	 	 	its general partner
	 	 	 
	 	By: 	/s/ Theresa A. Gore
	 	Name:	Theresa A. Gore
	 	Title: 	Vice President, Treasurer and Assistant Secretary





 


 


 


 





[Signature Page to Registration Rights
Agreement]