Barclays Bank PLC, 5 The North Colonnade
	 	Canary Wharf, London E14 4BB
	 	Facsimile:+44(20)77736461
	 	Telephone: +44 (20) 777 36810
	 	 
	 	c/o Barclays Capital Inc.
	 	as Agent for Barclays Bank PLC
	 	745 Seventh Ave
	 	New York, NY 10166
	 	Telephone: +1 212 412 4000


 


	DATE:	February 28, 2012
	 	 
	TO:	DealerTrack Holdings, Inc.
	ATTENTION:	President and Chief Executive Officer
	TELEPHONE:	516 734-3700
	FACSIMILE:	516 300-8003
	 	 
	FROM:	Barclays Capital Inc., acting as Agent for Barclays Bank PLC
	TELEPHONE:	1 212 412 4000
	FACSIMILE:	+1 212-412-7519
	 	 
	SUBJECT:	Base Warrant Transaction


 


The purpose of this letter agreement (this
“Confirmation”) is to confirm the terms and conditions of the Transaction entered into between Barclays Bank
PLC (“Dealer”), through its agent Barclays Capital Inc. (the “Agent”), and DealerTrack Holdings,
Inc. (“Counterparty”) on the Trade Date specified below (the “Transaction”). This Confirmation
constitutes a “Confirmation” as referred to in the Agreement specified below. Dealer is regulated by the Financial
Services Authority. Dealer is not a member of the Securities Investor Protection Corporation.


 


The definitions and provisions contained in
the 2002 ISDA Equity Derivatives Definitions (the “Equity Definitions”), as published by the International Swaps
and Derivatives Association, Inc., are incorporated into this Confirmation. In the event of any inconsistency between the Equity
Definitions and this Confirmation, this Confirmation shall govern. For purposes of the Equity Definitions, this Transaction shall
be deemed to be a Share Option Transaction, and each reference herein to a Warrant shall be deemed to be a reference to a Call
or an Option, as context requires.


 


Each party is hereby advised, and each such
party acknowledges, that the other party has engaged in, or refrained from engaging in, substantial financial transactions and
has taken other material actions in reliance upon the parties’ entry into the Transaction to which this Confirmation relates
on the terms and conditions set forth below.


 


1.        This
Confirmation evidences a complete and binding agreement between Dealer and Counterparty as to the terms of the Transaction to which
this Confirmation relates. This Confirmation shall supplement, form a part of, and be subject to, an agreement in the form of the
ISDA 1992 Master Agreement (Multicurrency – Cross Border) as if Dealer and Counterparty had executed an agreement (the “Agreement”)
in such form (without any Schedule but with the elections set forth in this Confirmation) on the Trade Date. In the event of any
inconsistency between provisions of the Agreement and this Confirmation, this Confirmation will prevail for the purpose of the
Transaction. The parties hereby agree that no Transaction other than the Transaction to which this Confirmation relates shall be
governed by the Agreement.


 






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2.        The
terms of the particular Transaction to which this Confirmation relates are as follows:


 





	General Terms:
	 
	Trade Date:	February 28, 2012.
	 	 
	Components:	The Transaction will be divided into individual Components, each with the terms set forth in this Confirmation, and, in particular, with the Number of Warrants and Expiration Date set forth in this Confirmation.  The payments and deliveries to be made upon settlement of the Transaction will be determined separately for each Component as if each Component were a separate Transaction under the Agreement.
	 	 
	Warrant Style:	European.
	 	 
	Warrant Type:	Call.
	 	 
	Seller:	Counterparty.
	 	 
	Buyer:	Dealer.
	 	 
	Shares:	The common stock, par value USD 0.01 per share, of Counterparty (Ticker symbol “TRAK”).
	 	 
	Number of Warrants:	For each Component of the Transaction, as provided in Schedule B to this Confirmation.
	 	 
	Warrant Entitlement:	One Share per Warrant.
	 	 
	Strike Price:	As provided in Schedule A to this Confirmation.
	 	 
	 	Notwithstanding anything to the contrary in the Agreement, this Confirmation or the Equity Definitions, in no event shall the Strike Price be subject to adjustment to the extent that, after giving effect to such adjustment, the Strike Price would be less than USD 27.97, except for any adjustment pursuant to the terms of this Confirmation and the Equity Definitions in connection with stock splits or similar changes to Counterparty’s capitalization.
	 	 
	Premium:	As provided in Schedule A to this Confirmation.
	 	 
	Premium Payment Date:	March 5, 2012.
	 	 
	Exchange:	The NASDAQ Global Select Market.
	 	 
	Related Exchange(s):	All Exchanges.
	 	 
	Calculation Agent:	Dealer.
	 	 
	
        Procedures for Exercise:

         


In respect of any Component

	 
	Expiration Time:	The Valuation Time.







 






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	Expiration Date(s):	As provided in Schedule B to this Confirmation (or, if such date is not a Scheduled Trading Day, the next following Scheduled Trading Day that is not already an Expiration Date for another Component); provided that if that date is a Disrupted Day, the Expiration Date for such Component shall be the first succeeding Scheduled Trading Day that is not a Disrupted Day and is not or is not deemed to be an Expiration Date in respect of any other Component of the Transaction hereunder; and provided further that if the Expiration Date has not occurred pursuant to the preceding proviso as of the Final Disruption Date, the Calculation Agent shall have the right to elect, in its sole discretion, that the Final Disruption Date shall be the Expiration Date (irrespective of whether such date is a Disrupted Day or an Expiration Date in respect of any other Component for the Transaction) and, notwithstanding anything to the contrary in this Confirmation or the Definitions, the Settlement Price for the Final Disruption Date shall be the prevailing market value per Share determined by the Calculation Agent in a commercially reasonable manner. Notwithstanding the foregoing and anything to the contrary in the Equity Definitions, if a Market Disruption Event occurs on any Expiration Date, (i) the Calculation Agent may determine that such Expiration Date is a Disrupted Day only in part, in which case the Calculation Agent shall make adjustments to the number of Warrants for the relevant Component for which such day shall be the Expiration Date and shall designate the Scheduled Trading Day determined in the manner described in the immediately preceding sentence as the Expiration Date for the remaining Warrants for such Component and (ii) the Settlement Price for such Disrupted Day may be adjusted by the Calculation Agent as appropriate on the basis of the nature and duration of the relevant Market Disruption Event. Any day on which the Exchange is scheduled as of the Trade Date to close prior to its normal closing time shall be deemed to be a Disrupted Day in whole. Section 6.6 of the Equity Definitions shall not apply to any Valuation Date occurring on an Expiration Date. 
	 	 
	Final Disruption Date:	As provided in Schedule A to this Confirmation.
	 	 
	Automatic Exercise:	Applicable; provided that Section 3.4(a) of the Equity Definitions shall apply as if Cash Settlement applied.
	 	 
	Market Disruption Event:	
        Section 6.3(a) of the Equity Definitions shall
        be amended by deleting the words “at any time during the one hour period that ends at the relevant Valuation Time, Latest
        Exercise Time, Knock-in Valuation Time or Knock-out Valuation Time, as the case may be” and replacing them with the words
        “at any time during the regular trading session on the Exchange, without regard to after hours or any other trading outside
        of the regular trading session hours”, by amending and restating clause (a)(iii) thereof in its entirety to read as follows:
        “(iii) an Early Closure that the Calculation Agent determines is material” and by adding the words “or , (iv)
        a Regulatory Disruption” after clause (a)(iii) as restated above.

        Section 6.3(d) of the Equity Definitions is
        hereby amended by deleting the remainder of the provision following the term “Scheduled Closing Time” in the fourth
        line thereof.

	 	 
	Regulatory Disruption:	A “Regulatory Disruption” shall occur if Dealer determines in its reasonable good faith discretion that it is appropriate in light of legal, regulatory or self-regulatory requirements or related policies or procedures for Dealer to refrain from all or any part of the market activity in which it would otherwise engage in connection with this Transaction.  Dealer shall notify Counterparty as soon as reasonably practicable that a Regulatory Disruption has occurred and the Expiration Dates affected by it.







 






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	Disrupted Day:	The definition of “Disrupted Day” in Section 6.4 of the Equity Definitions shall be amended by adding the following sentence after the first sentence: “A Scheduled Trading Day on which a Related Exchange fails to open during its regular trading session will not be a Disrupted Day if the Calculation Agent determines that such failure will not have a material impact on Dealer’s ability to unwind any hedging transactions related to the Transaction.
	 	 
	
        Valuation:

         


In respect of any Component

	 
	Valuation Time:	Scheduled Closing Time; provided that if the principal trading session is extended, the Calculation Agent shall determine the Valuation Time in its reasonable discretion.
	 	 
	Valuation Date:	The Expiration Date.
	 	 
	
        Settlement Terms:

         


In respect of any Component

	 
	Settlement Method:	Net Share Settlement.
	 	 
	Net Share Settlement:	On each Settlement Date, Counterparty shall deliver to Dealer a number of Shares equal to the
    Net Share Amount for such Settlement Date to the account specified by Dealer, and cash in lieu of any fractional shares
    valued at the Settlement Price for the Valuation Date corresponding to such Settlement Date. If, in the good faith reasonable
    judgment of Dealer, the Shares deliverable hereunder would not be immediately freely transferable by Dealer under Rule 144
    (or any successor provision, collectively, “Rule 144”) under the U.S. Securities Act of 1933, as amended
    (the “Securities Act”), then Dealer may elect to either (x) accept delivery of such Shares notwithstanding
    the fact that such Shares are not freely transferable by Dealer under Rule 144 or (y) require that such delivery take place
    pursuant to paragraph 5(k) below. 
	 	 
	Net Share Amount:	The Option Cash Settlement Amount divided by the Settlement Price, each determined as if Cash Settlement applied.
	 	 
	Settlement Price:	On any Valuation Date, the per Share volume-weighted average price as displayed under the heading “Bloomberg VWAP” on Bloomberg page “TRAK <equity> AQR” (or any successor thereto) in respect of the period from the scheduled opening time of the Exchange to the Scheduled Closing Time on such Valuation Date (or if such volume-weighted average price is unavailable or is manifestly incorrect, the market value of one Share on such Valuation Date, as determined by the Calculation Agent). 
	 	 
	Settlement Date(s):	As determined in reference to Section 9.4 of the Equity Definitions, subject to paragraph
    5(k) hereof.




 






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	Other Provisions Applicable to Net Share Settlement:	The provisions of Sections 9.1(c), 9.4 (except that
    “Settlement Date” shall be as defined above, unless a Settlement Disruption Event prevents delivery of such Shares
    on that date), 9.8, 9.9, 9.11(as modified herein), 9.12 and
    10.5 of the Equity Definitions will be applicable, as if “Physical Settlement” applied to the Transaction.
	 	 
	Representation and Agreement:	Notwithstanding Section 9.11 of the Equity Definitions, the parties
    acknowledge that any Shares delivered to Dealer may be, upon delivery, subject to restrictions and limitations arising from
    Counterparty’s status as issuer of the Shares under applicable securities laws as
    a result of the fact that Counterparty is the issuer of the Shares.
	 	 
	Dividends:
	 
	Dividend Adjustments:	If at any time during the period from but excluding the Trade Date, to and including the final Expiration Date an ex-dividend date for a cash dividend occurs with respect to the Shares, then the Calculation Agent will adjust the Strike Price, the Number of Warrants, the Warrant Entitlement and other variables as it deems appropriate to preserve the fair value of the Warrants to Dealer after taking into account such dividend. 
	 	 
	Adjustments:
	 
	Method of Adjustment:	Calculation Agent Adjustment; provided that the Equity Definitions shall be amended by replacing the words “diluting or concentrative” in Sections 11.2(a), 11.2(c) (in two instances) and 11.2(e)(vii) with the word “material” and by adding the words “or the Transaction” after the words “theoretical value of the relevant Shares” in Section 11.2(a), 11.2(c) and 11.2(e)(vii); provided, further that adjustments may be made to account for changes in volatility, expected dividends, stock loan rate and liquidity relative to the relevant Shares. Notwithstanding the foregoing, any cash dividends or distributions on the Shares, whether or not extraordinary, shall be governed by the sub-section titled “Dividends” in paragraph 2 above of this Confirmation in lieu of Article 10 or Section 11.2(c) of the Equity Definitions.
	 	 
	Extraordinary Events:
	 
	New Shares:	Section 12.1(i) of the Equity Definitions is hereby amended by deleting the text in clause (i) in its entirety and replacing it with the phrase “publicly quoted, traded or listed on any of the New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market (or their respective successors)”.
	 	 
	Share-for-Share:	The definition of “Share-for-Share” set forth in Section 12.1(f) of the Equity Definitions is hereby amended by the deletion of the parenthetical in clause (i) thereof.
	 	 
	Consequence of Merger Events:
	 
	Merger Event:	

Applicable; provided that if an event occurs that constitutes both a Merger Event under Section
12.1(b) of the Equity Definitions and Additional Termination Event under paragraph 5(g) of this Confirmation, Dealer may
elect, in its commercially reasonable judgment, whether the provisions of Section 12.2 of the Equity Definitions or paragraph
5(g) will apply.







 






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	Share-for-Share:	Modified Calculation Agent Adjustment.
	 	 
	Share-for-Other:	Cancellation and Payment (Calculation Agent Determination).
	 	 
	Share-for-Combined:	Cancellation and Payment (Calculation Agent Determination); provided that Dealer may elect, in its commercially reasonable judgment, Component Adjustment.
	 	 
	Consequence of Tender Offers:
	 
	Tender Offer:	Applicable; provided that if an event occurs that constitutes
both a Tender Offer under Section 12.1(d) of the Equity Definitions and Additional Termination Event under paragraph 5(g) of this
Confirmation, Dealer may elect, in its commercially reasonable judgment, whether the provisions of Section 12.3 of the Equity Definitions
or paragraph 5(g) will apply.



	 	 
	Share-for-Share:	Modified Calculation Agent Adjustment.
	 	 
	Share-for-Other:	Modified Calculation Agent Adjustment.
	 	 
	Share-for-Combined:	Modified Calculation Agent Adjustment.
	 	 
	Modified Calculation Agent Adjustment:	For greater certainty, the definition of “Modified Calculation Agent Adjustment” in Sections 12.2 and 12.3 of the Equity Definitions shall be amended by adding the following italicized language after the stipulated parenthetical provision: “(including adjustments to account for changes in volatility, expected dividends, stock loan rate or liquidity relevant to the Shares or to this Transaction) from the Exchange Business Day immediately preceding the Announcement Date or the Determination Date, as applicable,  to the first Exchange Business Day immediately following the Merger Date (Section 12.2) or Tender Offer Date (Section 12.3).”
	 	 
	Announcement Date:	The definition of “Announcement Date” in Section 12.1 of the Equity Definitions shall be amended by (i) replacing the word “leads to the” in the third and the fifth lines thereof with the words “, if completed, would lead to a”, (ii) replacing the words “voting shares” in the fifth line thereof with the word “Shares”, (iii) inserting the words “by any entity” after the word “announcement” in the second and the fourth lines thereof, (iv) inserting the words “or to explore the possibility of engaging in” after the words “engage in” in the second line thereto and (v) inserting the words “or to explore the possibility of purchasing or otherwise obtaining” after the word “obtain” in the fourth line thereto.




 






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	Announcement Event:	If an Announcement Event has occurred, the Calculation Agent shall have the right to determine the economic effect of the Announcement Event on the theoretical value of this Transaction (including without limitation any change in volatility, stock loan rate or liquidity relevant to the Shares or to this Transaction) (i) at a time that it deems appropriate, from the Announcement Date to the date of such determination (the “Determination Date”), and (ii) on the Valuation Date or on a date on which a payment amount is determined pursuant to Sections 12.7 or 12.8 of the Equity Definitions, from the Announcement Date or the Determination Date, as applicable, to the Valuation Date or the date on which a payment amount is determined pursuant to Sections 12.7 or 12.8 of the Equity Definitions. If any such economic effect is material, the Calculation Agent will either (i) adjust the terms of this Transaction to reflect such economic effect or (ii) terminate the Transaction, in which case the Determining Party will determine the Cancellation Amount payable by one party to the other; provided that the reference in Section 12.8(a) of the Equity Definitions to “Extraordinary Event” shall be replaced for this purpose with a reference to “Announcement Event.” “Announcement Event” shall mean the occurrence of the Announcement Date of a Merger Event or Tender Offer or of a potential Merger Event or potential Tender Offer.
	 	 
	Composition of Combined Consideration:	Not Applicable; provided that, notwithstanding Sections 12.5(b) and 12.1(f) of the Equity Definitions, to the extent that the composition of the consideration for the relevant Shares pursuant to a Tender Offer or Merger Event could be elected by an actual holder of the Shares, the Calculation Agent will, in its sole discretion, determine such composition.
	 	 
	Nationalization, Insolvency or Delisting:	Cancellation and Payment (Calculation Agent Determination); provided that, in addition to the provisions of Section 12.6(a)(iii) of the Equity Definitions, it will also constitute a Delisting if the Exchange is located in the United States and the Shares are not immediately re-listed, re-traded or re-quoted on any of the New York Stock Exchange, the NASDAQ Global Select Market or the NASDAQ Global Market (or their respective successors); if the Shares are immediately re-listed, re-traded or re-quoted on any such exchange or quotation system, such exchange or quotation system shall thereafter be deemed to be the Exchange.
	 	 
	Additional Disruption Events:
	 
	Change in Law:	
        Applicable; provided that Section 12.9(a)(ii)
        of the Equity Definitions is hereby amended by (i) replacing the phrase “the interpretation” in the third line thereof
        with the phrase “, or public announcement of, the formal or informal interpretation”, (ii) by replacing the word “Shares”
        where it appears in clause (X) thereof with the words “Hedge Position” and (iii) by immediately following the word
        “Transaction” in clause (X) thereof, adding the phrase “in the manner contemplated by Dealer on the Trade Date”.

         


The parties agree that, for the avoidance of
        doubt, for purposes of Section 12.9(a)(ii) of the Equity Definitions, “any applicable law or regulation” and for purposes
        of Section 5(b)(i) of the Agreement, “any applicable law”, shall include the Dodd-Frank Wall Street Reform and Consumer
        Protection Act of 2010, any rules and regulations promulgated thereunder and any similar law or regulation (collectively, the “Wall
        Street Act”), and the consequences specified in Section 12.9(b)(i) of the Equity Definitions shall apply to any
        Change in Law or Illegality, as the case may be, arising from any such act, rule or regulation. The foregoing constitutes a specific
        reservation for purposes of the Wall Street Act.





 






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	Failure to Deliver:	Not Applicable.
	 	 
	Insolvency Filing:	
        Applicable; provided that the definition
        of “Insolvency Filing” in Section 12.9 of the Equity Definitions shall be amended by deleting the clause “provided
        that proceedings instituted or petitions presented by creditors and not consented to by the Issuer shall not be deemed an Insolvency
        Filing” at the end of such definition and replacing it with the following: “; or it has instituted against it a proceeding
        seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law
        affecting creditors’ rights, or a petition is presented for its winding-up or liquidation by a creditor and such proceeding
        is not dismissed, discharged, stayed or restrained in each case within fifteen (15) days of the institution or presentation thereof.”

         


Section 12.9(b)(i)
        of the Equity Definitions is hereby amended by adding the following sentence at the end: “If neither party elects to terminate
        the Transaction, the Calculation Agent may in its sole discretion adjust the terms of the Transaction upon the occurrence of such
        an event pursuant to Modified Calculation Agent Adjustment (as if such event were a Tender Offer).”

	 	 
	Hedging Disruption:	
        Applicable; provided
        that 

         


(i) Section 12.9(a)(v) of the Equity Definitions
        is hereby modified by inserting the following two phrases at the end of such Section:

         


“For the avoidance of doubt, the term
        “equity price risk” shall be deemed to include, but shall not be limited to, stock price and volatility risk. And,
        for the further avoidance of doubt, any such transactions or assets referred to in phrases (A) or (B) above must be available on
        commercially reasonable pricing terms.”; and

         


(ii) Section 12.9(b)(iii) of the Equity Definitions
        is hereby amended by inserting in the third line thereof, after the words “to terminate the Transaction”, the words
        “or a portion of the Transaction affected by such Hedging Disruption”.

	 	 
	Increased Cost of Hedging:	Applicable.
	 	 
	Loss of Stock Borrow:	Applicable; provided that Sections 12.9(a)(vii) and 12.9(b)(iv) of the Equity Definitions are amended by deleting the words “at a rate equal to or less than the Maximum Stock Loan Rate” and replacing it with the words “at a Borrow Cost equal to or less than the Maximum Stock Loan Rate”.
	 	 
	Borrow Cost:   	The cost to borrow the relevant Shares that would be incurred by a third party market participant borrowing such Shares, as determined by the Calculation Agent on the relevant date of determination. Such costs shall include (a)  the spread below FED-FUNDS that would be earned on collateral posted in connection with such borrowed Shares, net of any costs or fees , and (b) any stock loan borrow fee that would be payable for such Shares, expressed as fixed rate per annum.    




 






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	Maximum Stock Loan Rate:	200 basis points
	 	 
	Increased Cost of Stock Borrow:	Applicable; provided that (a) Section 12.9(a)(viii) of the Equity Definitions shall be amended by deleting “rate to borrow Shares” and replacing it with “Borrow Cost” and (b) Section 12.9(b)(v) of the Equity Definitions shall be amended by (i) adding the word “or” immediately before the phrase “(B)”, (ii) deleting subsection (C) in its entirety, (iii) replacing “either party” in the penultimate sentence with “the Hedging Party”, and (iv) replacing the word “rate” in clauses (X) and (Y) of the final sentence therein with the words “Borrow Cost”. 
	 	 
	Initial Stock Loan Rate:	20 basis points, as adjusted by the Calculation Agent to reflect any subsequent Price Adjustment due to an Increased Cost of Stock Borrow.
	 	 
	FED FUNDS:	“FED FUNDS” means ,for any day, the rate set forth for such day opposite the caption “Federal funds”, as such rate is displayed on the page “FedsOpen <Index> <GO>” on the BLOOMBERG Professional Service, or any successor page; provided that if no rate appears for any day on such page, the rate for the immediately preceding day for which a rate does so appear shall be used for such day.
	 	 
	Hedging Party:	Dealer or an affiliate of Dealer that is involved in the hedging of this Transaction for all applicable Additional Disruption Events.
	 	 
	Determining Party:	Dealer for all applicable Extraordinary Events.
	 	 
	Acknowledgments:
	 
	Non-Reliance:	Applicable.
	 	 
	Agreements and Acknowledgments Regarding Hedging Activities:	
Applicable.
	 	 
	Additional Acknowledgments:	Applicable.




 


3.        Mutual
Representations, Warranties and Agreements.


 


Each of Dealer and Counterparty represents
and warrants to, and agrees with, the other party that:


 


		(a)	Commodity Exchange Act. It is an “eligible contract participant” within the
meaning of Section 1a(12) of the U.S. Commodity Exchange Act, as amended (the “CEA”). The Transaction has been
subject to individual negotiation by the parties. The Transaction has not been executed or traded on a “trading facility”
as defined in Section 1a(33) of the CEA.



 


		(b)	Securities Act. It is an “accredited investor” as defined in Section 2(a)(15)(ii)
of the Securities Act.



 






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		(c)	ERISA. The assets used in the Transaction (1) are not assets of any “plan” (as
such term is defined in Section 4975 of the U.S. Internal Revenue Code (the “Code”)) subject to Section 4975
of the Code or any “employee benefit plan” (as such term is defined in Section 3(3) of the U.S. Employee Retirement
Income Security Act of 1974, as amended (“ERISA”)) subject to Title I of ERISA, and (2) do not constitute “plan
assets” within the meaning of Department of Labor Regulation 2510.3-101, 29 CFR Section 2510-3-101.



 


4.        Representations,
Warranties and Agreements of Counterparty.


 


In addition to the representations and warranties
in the Agreement and those contained elsewhere herein, Counterparty further represents, warrants and agrees, on the date hereof,
that:


 


		(a)	the representations and warranties of Counterparty set forth in Section 2 of the Purchase Agreement
dated as of the Trade Date between Counterparty and Barclays Capital Inc., J.P. Morgan Securities LLC and Wells Fargo Securities,
LLC, as representative of the initial purchasers party thereto (the “Purchase Agreement”) relating to the issuance
of up to USD 200,000,000 principal amount of 1.50% senior convertible notes due 2017 (the “Convertible Notes”),
are true and correct as of the date made and are hereby deemed to be repeated to Dealer as if set forth herein;



 


		(b)	the Shares of Counterparty initially issuable upon exercise of the Warrant (the “Warrant
Shares”) have been reserved for issuance by all required corporate action of Counterparty. The Warrant Shares have been
duly authorized and, when delivered as contemplated by the terms of the Warrant following the exercise of the Warrant in accordance
with the terms and conditions of the Warrant, will be validly issued, fully-paid and non-assessable, and the issuance of the Warrant
Shares will not be subject to any pre-emptive or similar rights;



 


		(c)	(A) Counterparty is acting for its own account, and it has made its own independent decisions to
enter into the Transaction and as to whether the Transaction is appropriate or proper for it based upon its own judgment and upon
advice from such advisers as it has deemed necessary, (B) Counterparty is not relying on any communication (written or oral) of
Dealer or any of its affiliates as investment advice or as a recommendation to enter into the Transaction (it being understood
that information and explanations related to the terms and conditions of the Transaction shall not be considered investment advice
or a recommendation to enter into the Transaction) and (C) no communication (written or oral) received from Dealer or any of its
affiliates shall be deemed to be an assurance or guarantee as to the expected results of the Transaction;



 


		(d)	Counterparty is entering into the Transaction, solely for the purposes stated in the board resolution
authorizing the Transaction and in its public disclosure, and there is no internal policy, whether written or oral, of Counterparty
that would prohibit Counterparty from entering into any aspect of the Transaction, including, but not limited to, the issuance
of Shares to be made pursuant hereto;



 


		(e)	Counterparty has not and will not directly or indirectly violate any applicable law (including,
without limitation, the Securities Act and the Securities Exchange Act of 1934, as amended (the “Exchange Act”))
in connection with the Transaction;



 


		(f)	Counterparty is not as of the Trade Date and as of the date on which Counterparty delivers any
Termination Delivery Units, and shall not be after giving effect to the transactions contemplated hereby, “insolvent”
(as such term is defined in Section 101(32) of the U.S. Bankruptcy Code (Title 11 of the United States Code) (the “Bankruptcy
Code”));



 


		(g)	Counterparty understands, agrees and acknowledges that Dealer has no obligation or intention to
register the Transaction under the Securities Act, any state securities law or other applicable federal securities law;



 






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		(h)	each of Counterparty’s filings under the Securities Act, the Exchange Act, or other applicable
securities laws that are required to be filed have been filed and that, as of the respective dates thereof and as of the date of
this representation, such filings when considered as a whole (with the more recent such filings deemed to amend inconsistent statements
contained in any earlier such filings) do not contain any misstatement of a material fact or any omission of a material fact required
to be stated therein or necessary to make the statements made therein, in the light of the circumstances under which they were
made, not misleading;



 


		(i)	On the Trade Date and as of the date of on which Counterparty delivers any Termination Delivery
Units, Counterparty is not in possession of any material non-public information regarding the Issuer
or the Shares. “Material” information for these purposes is any information to which an investor would reasonably attach
importance in reaching a decision to buy, sell or hold any securities of the Issuer;



 


		(j)	Counterparty is not, and after giving effect to the transactions contemplated hereby will not be,
required to register as an “investment company” as such term is defined in the Investment Company Act of 1940, as amended;



 


		(k)	Counterparty understands, agrees and acknowledges that no obligations of Dealer to it hereunder
shall be entitled to the benefit of deposit insurance and that such obligations shall not be guaranteed by any affiliate of Dealer
or any governmental agency;



 


		(l)	without limiting the generality of Section 13.1 of the Equity Definitions, Counterparty acknowledges
that Dealer is not making any representations or warranties with respect to the treatment of the Transaction under any accounting
standards, including ASC Topic 260, Earnings Per Share, ASC Topic 815, Derivatives and Hedging, ASC Topic 480, Distinguishing Liabilities
from Equity and ASC 815-40, Derivatives and Hedging – Contracts in Entity’s Own Equity (or any successor issue statements)
or under FASB’s Liabilities & Equity Project;



 


		(m)	Counterparty is not entering into the Transaction for the purpose of (i) creating actual or apparent
trading activity in the Shares (or any security convertible into or exchangeable for the Shares) or (ii) raising or depressing
or otherwise manipulating the price of the Shares (or any security convertible into or exchangeable for the Shares) or otherwise
in violation of the Exchange Act;



 


		(n)	Counterparty shall deliver to Dealer an opinion of counsel,
dated as of the Trade Date and reasonably acceptable to Dealer in form and substance, with respect to the matters set forth in
Section 3(a) of the Agreement and paragraph 4(b) of this Confirmation; 






 


		(o)	Counterparty has not entered into any obligation that would
contractually limit it from effecting Net Share Settlement under this Transaction and it agrees not to enter into any such obligation
during the term of this Transaction;



 


		(p)	(x)(A) On the Trade Date, the Shares or securities that are
convertible into, or exchangeable or exercisable for Shares, are not, and shall not be, subject to a “restricted period,”
as such term is defined in Regulation M under the Exchange Act (“Regulation M”) other than the distribution
of the convertible notes subject to the Purchase Agreement and (B) Counterparty shall not engage in any “distribution,”
as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections
101(b)(10) and 102(b)(7) of Regulation M until the second Exchange Business Day immediately following the Trade Date, and (y)(A)
during the period starting on the first Expiration Date and ending on the last Expiration Date (the “Settlement Period”),
the Shares or securities that are convertible into, or exchangeable or exercisable for Shares, are not, and shall not be, subject
to a “restricted period,” as defined in Regulation M and (B) Counterparty shall not engage in any “distribution,”
as such term is defined in Regulation M, other than a distribution meeting the requirements of the exceptions set forth in sections
101(b)(10) and 102(b)(7) of Regulation M, until the second Exchange Business Day immediately following the Settlement Period; 



 



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		(q)	During the Settlement Period and on any other Exercise Date,
neither Counterparty nor any “affiliate” or “affiliated purchaser” (each as defined in Rule 10b-18 of the
Exchange Act (“Rule 10b-18”)) shall directly or indirectly (including, without limitation, by means of any cash-settled
or other derivative instrument) purchase, offer to purchase, place any bid or limit order that would effect a purchase of, or commence
any tender offer relating to, any Shares (or an equivalent interest, including a unit of beneficial interest in a trust or limited
partnership or a depository share) or any security convertible into or exchangeable or exercisable for Shares, except through Dealer;
and 



 


		(r)	Counterparty agrees that it (A) will not during the Settlement Period make, or permit to be made,
any public announcement (as defined in Rule 165(f) under the Securities Act) of any Merger Transaction or potential Merger Transaction
unless such public announcement is made prior to the opening or after the close of the regular trading session on the Exchange
for the Shares; (B) shall promptly (but in any event prior to the next opening of the regular trading session on the Exchange)
notify Dealer following any such announcement that such announcement has been made; and (C) shall promptly (but in any event prior
to the next opening of the regular trading session on the Exchange) provide Dealer with written notice specifying (i) Counterparty’s
average daily Rule 10b-18 Purchases (as defined in Rule 10b-18) during the three full calendar months immediately preceding the
announcement date that were not effected through Dealer or its affiliates and (ii) the number of Shares purchased pursuant to the
proviso in Rule 10b-18(b)(4) under the Exchange Act for the three full calendar months preceding the announcement date. Such written
notice shall be deemed to be a certification by Counterparty to Dealer that such information is true and correct. In addition,
Counterparty shall promptly notify Dealer of the earlier to occur of the completion of such transaction and the completion of the
vote by target shareholders. “Merger Transaction” means any merger, acquisition or similar transaction involving
a recapitalization as contemplated by Rule 10b-18(a)(13)(iv) under the Exchange Act.



 


5.        Other
Provisions:


 


		(a)	Method of Delivery. Whenever delivery of funds or other assets
is required hereunder by or to Counterparty, such delivery shall be effected through Agent.



 






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		(b)	Repurchase Notices. Counterparty shall, on any day on which Counterparty effects any repurchase
of Shares, promptly give Dealer a written notice of such repurchase (a “Repurchase Notice”) on such day if following
such repurchase, the Warrant Equity Percentage as determined on such day is (i) equal to or greater than 9.0% or (ii) greater by
0.5% than the Warrant Equity Percentage included in the immediately preceding Repurchase Notice (or, in the case of the first such
Repurchase Notice, greater than the Warrant Equity Percentage as of the Trade Date). The “Warrant Equity Percentage”
as of any day is the fraction (A) the numerator of which is the sum of (1) the product of the Number of Warrants in aggregate and
the Option Entitlement in respect of the Transaction and (2) the aggregate number of Shares underlying any other warrants transaction
bought by Dealer from Counterparty, and (B) the denominator of which is the number of Shares outstanding on such day. Counterparty
agrees to indemnify and hold harmless Dealer and its affiliates and their respective officers, directors, employees, affiliates,
advisors, agents and controlling persons (each, an “Indemnified Person”) from and against any and all losses
(including losses relating to Dealer’s hedging activities as a consequence of becoming, or of the risk of becoming, a Section
16 “insider”, including without limitation, any forbearance from hedging activities or cessation of hedging activities
and any losses in connection therewith with respect to the Transaction), claims, damages, judgments, liabilities and expenses (including
reasonable attorney’s fees), joint or several, which an Indemnified Person may become subject to, as a result of Counterparty’s
failure to provide Dealer with a Repurchase Notice on the day and in the manner specified in this paragraph, and to reimburse,
within 30 days, upon written request, each of such Indemnified Persons for any reasonable legal or other expenses incurred in connection
with investigating, preparing for, providing testimony or other evidence in connection with or defending any of the foregoing.
If any suit, action, proceeding (including any governmental or regulatory investigation), claim or demand shall be brought or asserted
against the Indemnified Person as a result of the Counterparty’s failure to timely provide Dealer with a Repurchase Notice
in accordance with this paragraph, such Indemnified Person shall promptly notify Counterparty in writing, and Counterparty, upon
request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified Person to represent the Indemnified
Person and any others Counterparty may designate in such proceeding and shall pay the fees and expenses of such counsel related
to such proceeding. Counterparty shall not be liable for any settlement of any proceeding contemplated by this paragraph that is
effected without its written consent, but if settled with such consent or if there be a final judgment for the plaintiff, Counterparty
agrees to indemnify any Indemnified Person from and against any loss or liability by reason of such settlement or judgment. Counterparty
shall not, without the prior written consent of the Indemnified Person, effect any settlement of any pending or threatened proceeding
contemplated by this paragraph that is in respect of which any Indemnified Person is or could have been a party and indemnity could
have been sought hereunder by such Indemnified Person, unless such settlement includes an unconditional release of such Indemnified
Person from all liability on claims that are the subject matter of such proceeding on terms reasonably satisfactory to such Indemnified
Person. If the indemnification provided for in this paragraph is unavailable to an Indemnified Person or insufficient in respect
of any losses, claims, damages or liabilities referred to therein, then Counterparty hereunder, in lieu of indemnifying such Indemnified
Person thereunder, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims,
damages or liabilities. The remedies provided for in this paragraph are not exclusive and shall not limit any rights or remedies
which may otherwise be available to any Indemnified Person at law or in equity. The indemnity and contribution agreements contained
in this paragraph shall remain operative and in full force and effect regardless of the termination of the Transaction.



 


		(c)	Covenant to Notify of Potential Adjustment Event, Merger Event or any other Extraordinary Event.
Counterparty covenants to provide written notice to Dealer upon obtaining knowledge of the occurrence of any event that would constitute
a Potential Adjustment Event, a Merger Event or any other Extraordinary Event; provided, however, that should Counterparty
be in possession of material non-public information regarding Counterparty, Counterparty shall not communicate such information
to Dealer.



 


		(d)	Transfer or Assignment.  Counterparty
may not transfer or assign any of its rights or obligations under the Transaction without the prior written consent of Dealer.



 


Notwithstanding any
provision of the Agreement to the contrary, Dealer may, subject to applicable law, freely transfer and assign all of its rights
and obligations under the Transaction without the consent of Counterparty.


 






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If
at any time at which (1) the Equity Percentage exceeds 9.0% or (2) Dealer, Dealer Group (as defined below) or any person whose
ownership position would be aggregated with that of Dealer or Dealer Group (Dealer, Dealer Group or any such person, a “Dealer
Person”) under Section 203 of the Delaware General Corporation Law (the “DGCL Takeover Statute”)
and under any relevant state corporate law or any state or federal bank holding company or banking laws, or other federal, state
or local regulations or regulatory orders applicable to ownership of Shares (“Applicable Laws”), owns, beneficially
owns, constructively owns, controls, holds the power to vote or otherwise meets a relevant definition of ownership in excess of
a number of Shares equal to (x) the number of Shares that would give rise to reporting or registration obligations or other requirements
(including obtaining prior approval by a state or federal regulator) of a Dealer Person under Applicable Laws (including, without
limitation, “interested stockholder” or “acquiring person” status under the DGCL Takeover Statute) and
with respect to which such requirements have not been met or the relevant approval has not been received minus (y) 1.0%
of the number of Shares outstanding on the date of determination (either such condition described in clause (1) or (2), an “Excess
Ownership Position”) and  Dealer is unable, after commercially reasonable efforts, to effect a transfer or assignment
on pricing terms and within a time period reasonably acceptable to it of all or a portion of the Transaction such
that an Excess Ownership Position no longer exists, Dealer may designate any Scheduled Trading Day as an Early Termination
Date with respect to a portion (the “Terminated Portion”) of the Transaction, such that an
Excess Ownership Position no longer exists. In the event that Dealer so designates an Early Termination Date with respect
to a portion of this Transaction, a payment shall be made pursuant to Section 6 of the Agreement as if (x) an Early Termination
Date had been designated in respect of a Transaction having terms identical to this Transaction and a Number of Shares equal to
the Terminated Portion, (y) Counterparty shall be the sole Affected Party with respect to such partial termination and (z) such
Transaction shall be the only Terminated Transaction (and, for the avoidance of doubt, the provisions of paragraph 5(j) shall
apply to any amount that is payable by Dealer to Counterparty pursuant to this sentence). The “Equity
Percentage” as of any day is the fraction, expressed as a percentage, (A) the numerator of which is the number of Shares
that Dealer and any of its affiliates subject to aggregation with Dealer, for purposes of the “beneficial ownership”
test under Section 13 of the Exchange Act, and all persons who may form a “group” (within the meaning of Rule 13d-5(b)(1)
under the Exchange Act) with Dealer (“Dealer Group”), beneficially own (within the meaning of Section 13 of
the Exchange Act) on such day and (B) the denominator of which is the number of Shares outstanding on such day. Notwithstanding
any other provision in this Confirmation to the contrary requiring or allowing Dealer to purchase, sell, receive or deliver any
Shares or other securities to or from Counterparty, Dealer may designate any of its affiliates to purchase, sell, receive or deliver
such Shares or other securities and otherwise to perform Dealer’s obligations in respect of the Transaction and any such
designee may assume such obligations. Dealer shall be discharged of its obligations to Counterparty to the extent of any such
performance.


 


		(e)	Role of Agent. Each of Dealer and Counterparty acknowledges to and agrees with the other
party hereto and to and with the Agent that (i) the Agent is acting as agent for Dealer under the Transaction pursuant to instructions
from such party, (ii) the Agent is not a principal or party to the Transaction, and may transfer its rights and obligations with
respect to the Transaction, (iii) the Agent shall have no responsibility, obligation or liability, by way of issuance, guaranty,
endorsement or otherwise in any manner with respect to the performance of either party under the Transaction, (iv) Dealer and the
Agent have not given, and Counterparty is not relying (for purposes of making any investment decision or otherwise) upon, any statements,
opinions or representations (whether written or oral) of Dealer or the Agent, other than the representations expressly set forth
in this Confirmation or the Agreement, and (v) each party agrees to proceed solely against the other party, and not the Agent,
to collect or recover any money or securities owed to it in connection with the Transaction. Each party hereto acknowledges and
agrees that the Agent is an intended third party beneficiary hereunder. Counterparty acknowledges that the Agent is an affiliate
of Dealer.



 


		(f)	Regulatory Provisions. The time of dealing for the Transaction will be confirmed by Dealer
upon written request by Counterparty. The Agent will furnish to Counterparty upon written request a statement as to the source
and amount of any remuneration received or to be received by the Agent in connection with the Transaction.



 


		(g)	Additional Termination Events. The occurrence of any of the following shall constitute an
Additional Termination Event with respect to which (1) Counterparty shall be the sole Affected Party and (2) the Transaction shall
be the sole Affected Transaction; provided that with respect to any of the following Additional Termination Events, Dealer
may choose to treat part of the Transaction as the sole Affected Transaction, and, upon termination of the Affected Transaction,
a Transaction with a Number of Warrants equal to the unaffected number of Warrants shall be treated for all purposes as the Transaction,
which shall remain in full force and effect and, for the avoidance of doubt, shall be subject to all relevant provisions and adjustments
as if an Additional Termination Event had not occurred:



 






    	14



    	 



    
 


 


		(i)	if at any time Dealer is unable, or reasonably determines based on the advice of counsel that it
is inadvisable, to hedge its obligations pursuant to this Transaction in the public market without registration under the Securities
Act or as a result of any legal, regulatory or self-regulatory requirements or related policies and procedures (whether or not
such requirements, policies or procedures are imposed by law or have been voluntarily adopted by Dealer); or



 


		(ii)	the consummation of any transaction (including without limitation, any merger or consolidation,
but excluding any transaction described in clause (iii) below) the result of which is that any “person” or “group”
other than Counterparty or any of its subsidiaries files a Schedule TO or any schedule, form or report under the Exchange Act disclosing
that such person or group has become the “beneficial owner” (as these terms are defined in Rule 13d-3 and Rule 13d-5
under the Exchange Act), directly or indirectly, of more than 50% of capital stock of Counterparty that is at the time entitled
to vote by the holder thereof in the election of the board of directors of Counterparty (or comparable body); or



 


		(iii)	the consummation of (A) any recapitalization, reclassification or change of the Shares (other than
changes resulting from a subdivision or combination) as a result of which the Shares would be converted into, or exchanged for,
stock, other securities, other property or assets; (B) any statutory share exchange, consolidation or merger of Counterparty pursuant
to which the Shares will be converted into cash, securities or other property; or (C) any sale, lease or other transfer in one
transaction or a series of transactions of all or substantially all of the consolidated assets of Counterparty and its subsidiaries,
taken as a whole, to any person or group (other than one or more of Counterparty’s wholly-owned subsidiaries); or



 


		(iv)	the approval by stockholders of Counterparty of a plan for Counterparty’s liquidation or
dissolution; or



 


		(v)	the Shares cease to be listed or quoted on any of the New York Stock Exchange, The NASDAQ Global
Select Market or The NASDAQ Global Market (or any of their respective successors).



 


Notwithstanding the
foregoing, any transaction or event described in paragraph 5(g)(ii) or (iii) above will not constitute an Additional Termination
Event if, in connection with such transaction or event, or as a result thereof, at
least 90% of the consideration paid for the Shares (excluding cash payments for fractional Shares and cash payments made pursuant
to dissenters’ appraisal rights) consists of shares of common stock, ordinary shares or other common equity interests that
are listed or quoted on any of the New York Stock Exchange, The NASDAQ Global Market or The NASDAQ Global Select Market (or any
of their respective successors) (or will be so listed or quoted immediately following the completion of the relevant transaction).


 


		(h)	No Collateral. Notwithstanding any provision of this Confirmation, the Agreement, Equity
Definitions or any other agreement between the parties to the contrary, the obligations of Counterparty under the Transaction are
not secured by any collateral.



 


		(i)	Netting and Setoff. Obligations under the Transaction shall not be netted, recouped or set
off (including pursuant to Section 6 of the Agreement) against any other obligations of the parties, whether arising under the
Agreement, this Confirmation, under any other agreement between the parties hereto, by operation of law or otherwise, and no other
obligations of the parties shall be netted, recouped or set off (including pursuant to Section 6 of the Agreement) against obligations
under the Transaction, whether arising under the Agreement, this Confirmation, under any other agreement between the parties hereto,
by operation of law or otherwise, and each party hereby waives any such right of setoff, netting or recoupment provided
that both parties agree that subparagraph (ii) of Section 2(c) of the Agreement shall
apply to the Transaction.



 






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		(j)	Alternative Calculations and Counterparty Payment on Early Termination and on Certain Extraordinary
Events. If Counterparty owes Dealer any amount in connection with the Transaction (i) pursuant to Sections 12.2, 12.3, 12.6,
12.7 or 12.9 of the Equity Definitions (except in the case of an Extraordinary Event in which the consideration or proceeds to
be paid to holders of Shares as a result of such event consists solely of cash) or (ii) pursuant to Section 6(d)(ii) of the Agreement
(except in the case of an Event of Default in which Counterparty is the Defaulting Party or a Termination Event in which Counterparty
is the Affected Party, other than (x) an Event of Default of the type described in Section 5(a)(iii), (v), (vi) or (vii) of the
Agreement or (y) a Termination Event of the type described in Section 5(b)(i), (ii), (iii), (iv), (v) or (vi) of the Agreement
that in the case of either (x) or (y) resulted from an event or events outside Counterparty’s control) (a “Payment
Obligation”), Counterparty shall have the right, in its sole discretion, to satisfy any such Payment Obligation by delivery
of Termination Delivery Units (as defined below) by giving irrevocable telephonic notice to Dealer, confirmed in writing within
one Scheduled Trading Day, no later than noon New York time on the Early Termination Date or other date the Transaction is cancelled
or terminated, as applicable, where such notice shall include a representation and warranty from Counterparty that it is not, as
of the date of the telephonic notice and the date of such written notice, aware of any material non-public information concerning
itself or the shares (where “material” shall have the meaning set forth in paragraph 5(o) below) (“Notice of Counterparty Termination Delivery”). Within a commercially reasonable
period of time following receipt of a Notice of Counterparty Termination Delivery, Counterparty shall deliver to Dealer a number
of Termination Delivery Units having a fair market value (net of any brokerage and underwriting commissions and fees, including
any customary private placement fees) equal to the amount of such Payment Obligation (such number of Termination Delivery Units
to be delivered to be determined by the Calculation Agent as the number of whole Termination Delivery Units that could be sold
over a commercially reasonable period of time to generate proceeds equal to the cash equivalent of such Payment Obligation). In
addition, if, in the good faith reasonable judgment of Dealer, for any reason, the Termination Delivery Units deliverable pursuant
to this paragraph would not be immediately freely transferable by Dealer under Rule 144, then Dealer may elect either to (x) accept
delivery of such Termination Delivery Units notwithstanding any restriction on transfer or (y) require that such delivery take
place pursuant to paragraph 5(k) below. If the provisions set forth in this paragraph are applicable, the provisions of Sections
9.8, 9.9, 9.10, 9.11 (modified as described above) and 9.12 of the Equity Definitions shall be applicable, except that all references
to “Shares” shall be read as references to “Termination Delivery Units.” “Termination Delivery
Units” means in the case of a Termination Event, Event of Default or Delisting, one Share or, in the case of Nationalization,
Insolvency, Tender Offer or Merger Event, a unit consisting of the number or amount of each type of property received by a holder
of one Share (without consideration of any requirement to pay cash or other consideration in lieu of fractional amounts of any
securities) in such Nationalization, Insolvency, Tender Offer or Merger Event; provided that if such Nationalization, Insolvency,
Tender Offer or Merger Event involves a choice of consideration to be received by holders, such holder shall be deemed to have
elected to receive the maximum possible amount of cash.






 


		(k)	Registration/Private Placement Procedures.  If, in the reasonable opinion of Dealer, following
any delivery of Shares or Termination Delivery Units to Dealer hereunder, such Shares or Termination Delivery Units would be in
the hands of Dealer subject to any applicable restrictions with respect to any registration or qualification requirement or prospectus
delivery requirement for such Shares or Termination Delivery Units pursuant to any applicable federal or state securities law (including,
without limitation, any such requirement arising under Section 5 of the Securities Act as a result of such Shares or Termination
Delivery Units being “restricted securities”, as such term is defined in Rule 144 under the Securities Act, or as a
result of the sale of such Shares or Termination Delivery Units) (such Shares or Termination Delivery Units, “Restricted
Shares”), then delivery of such Restricted Shares shall be effected pursuant to either clause (i) or (ii) below at the
election of Counterparty, unless waived by Dealer. Notwithstanding the foregoing, solely in respect of any Daily Number of Warrants
exercised or deemed exercised on any Expiration Date, Counterparty shall elect, prior to the first Settlement Date for the first
Expiration Date, a Private Placement Settlement (as defined below) or Registered Settlement (as defined below) for all deliveries
of Restricted Shares for all such Expiration Dates which election shall be applicable to all Settlement Dates for such Warrants
and the procedures in clause (i) or clause (ii) below shall apply for all such delivered Restricted Shares on an aggregate basis
commencing after the final Settlement Date for such Warrants. The Calculation Agent shall make reasonable adjustments to settlement
terms and provisions under this Confirmation to reflect a single Private Placement or Registered Settlement for such aggregate
Restricted Shares delivered hereunder.



 






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		(i)	If Counterparty elects to settle the Transaction pursuant to this clause (i) (a “Private
Placement Settlement”), then delivery of Restricted Shares by Counterparty shall be effected in customary private placement
procedures with respect to such Restricted Shares reasonably acceptable to Dealer; provided that Counterparty may not elect
a Private Placement Settlement if, on the date of its election, it has taken, or caused to be taken, any action that would make
unavailable either the exemption pursuant to Section 4(2) of the Securities Act for the sale by Counterparty to Dealer (or any
affiliate designated by Dealer) of the Restricted Shares or the exemption pursuant to Section 4(1) or Section 4(3) of the Securities
Act for resales of the Restricted Shares by Dealer (or any such affiliate of Dealer). The Private Placement Settlement of such
Restricted Shares shall include customary representations, covenants, blue sky and other governmental filings and/or registrations,
indemnities to Dealer, due diligence rights (for Dealer or any designated buyer of the Restricted Shares by Dealer), opinions and
certificates, and such other documentation as is customary for private placement agreements, all reasonably acceptable to Dealer.
In the case of a Private Placement Settlement, Dealer shall determine the appropriate discount (in the case of settlement of Termination
Delivery Units pursuant to paragraph 5(j) above) or any Settlement Price (in the case of settlement of Shares pursuant to Section 2 above) applicable
to such Restricted Shares in a commercially reasonable manner and appropriately adjust the number of such Restricted Shares to
be delivered to Dealer hereunder. Notwithstanding the Agreement or this Confirmation, the date of delivery of such Restricted
Shares shall be the Scheduled Trading Day following notice by Dealer to Counterparty, of such applicable discount and the number
of Restricted Shares to be delivered pursuant to this clause (i). For the avoidance of doubt, delivery of Restricted Shares shall
be due as set forth in the previous sentence and not be due on the date described in paragraph 5(j) (in the case of settlement
of Termination Delivery Units) or on the Settlement Date (in the case of settlement in Shares pursuant to Section 2 above).






 


In the event Counterparty shall not
have delivered the full number of Restricted Shares otherwise applicable as a result of the proviso above relating to the Maximum
Amount (such deficit, the “Deficit Restricted Shares”), Counterparty shall be continually obligated to deliver,
from time to time until the full number of Deficit Restricted Shares have been delivered pursuant to this paragraph, Restricted
Shares when, and to the extent, that (i) Shares are repurchased, acquired or otherwise received by Counterparty or any of its subsidiaries
after the Trade Date (whether or not in exchange for cash, fair value or any other consideration), (ii) Counterparty authorizes
any unissued Shares reserved for issuance in respect of other transactions prior to such date which prior to the relevant date
become no longer so reserved and (iii) Counterparty additionally authorizes any unissued Shares that are not reserved for other
transactions. Counterparty shall immediately notify Dealer of the occurrence of any of the foregoing events (including the number
of Shares subject to clause (i), (ii) or (iii) and the corresponding number of Restricted Shares to be delivered) and promptly
deliver such Restricted Shares thereafter.


 






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In the event of a Private Placement,
the Net Share Settlement Amount or the Payment Obligation, respectively, shall be deemed to be the Net Share Settlement Amount
or the Payment Obligation, respectively, plus an additional amount (determined from time to time by the Calculation Agent
in its commercially reasonable judgment) attributable to interest that would be earned on such Net Share Settlement Amount or the
Payment Obligation, respectively, (increased on a daily basis to reflect the accrual of such interest and reduced from time to
time by the amount of net proceeds received by Dealer as provided herein) at a rate equal to the open Federal Funds Rate plus
the Spread for the period from, and including, such Settlement Date or the date on which the Payment Obligation is due, respectively,
to, but excluding, the related date on which all the Restricted Shares have been sold and calculated on an Actual/360 basis. The
foregoing provision shall be without prejudice to Dealer’s rights under the Agreement (including, without limitation, Sections
5 and 6 thereof).


 


As used in this Section, “Spread”
means, with respect to any Net Share Settlement Amount or Payment Obligation, respectively, the credit spread over the applicable
overnight rate that would be imposed if Dealer were to extend credit to Company in an amount equal to such Net Share Settlement
Amount or Payment Obligation, all as determined by the Calculation Agent using its commercially reasonable judgment as of the related
Settlement Date or the date on which the Payment Obligation is due, respectively. Commercial reasonableness shall take into consideration
all factors deemed relevant by the Calculation Agent, which are expected to include, among other things, the credit quality of
Counterparty (and any relevant affiliates) in the then-prevailing market and the credit spread of similar companies in the relevant
industry and other companies having a substantially similar credit quality.


 


		(ii)	If Counterparty elects to settle the Transaction pursuant to this clause (ii) (a “Registration
Settlement”), then Counterparty shall promptly (but in any event no later than the beginning of the Resale Period (as
defined below)) file and use its reasonable best efforts to make effective under the Securities Act a registration statement or
supplement or amend an outstanding registration statement in form and substance reasonably satisfactory to Dealer, to cover the
resale of such Restricted Shares (and any Make-whole Shares) in accordance with customary resale registration procedures, including
covenants, conditions, representations, underwriting discounts (if applicable), commissions (if applicable), indemnities due diligence
rights, opinions and certificates, and such other documentation as is customary for equity resale underwriting agreements, all
reasonably acceptable to Dealer (it being understood that O’Melveny & Myers is reasonably acceptable outside counsel
to the Counterparty). If Dealer, in its sole reasonable discretion, is not satisfied with such procedures and documentation Private
Placement Settlement shall apply. If Dealer is satisfied with such procedures and documentation, it shall sell the Restricted Shares
pursuant to such registration statement during a period (the “Resale Period”) commencing on the Exchange Business
Day following delivery of such Restricted Shares (and any Make-whole Shares) and ending on the earliest of (i) the Exchange Business
Day on which Dealer completes the sale of all Restricted Shares or, in the case of settlement of Termination Delivery Units, a
sufficient number of Restricted Shares so that the realized net proceeds of such sales exceed the Payment Obligation (as defined
above) and (ii) the date upon which all Restricted Shares have been sold or transferred pursuant to Rule 144 (or similar provisions
then in force) or Rule 145(d)(1) or (2) (or any similar provision then in force) under the Securities Act.



 






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		(iii)	If (ii) above is applicable and the Net Share Settlement Amount or the Payment Obligation, as applicable,
exceeds the realized net proceeds from such resale, or if (i) above is applicable and the Freely Tradeable Value (as defined below)
of the Net Share Settlement Amount or the Payment Obligation (in each case as adjusted pursuant to (i) above), as applicable, exceeds
the realized net proceeds from such resale, Counterparty shall transfer to Dealer by the open of the regular trading session on
the Exchange on the Exchange Trading Day immediately following the last day of the Resale Period the amount of such excess (the
“Additional Amount”), at Counterparty’s option, either in cash or in a number of Shares (“Make-whole
Shares”; provided that the aggregate number of Shares and Make-whole Shares delivered shall not exceed the Maximum
Amount) that, based on the Settlement Price on the last day of the Resale Period (as if such day was the “Valuation Date”
for purposes of computing such Settlement Price), has a value equal to the Additional Amount. The Resale Period shall continue
to enable the sale of the Make-whole Shares. If Counterparty elects to pay the Additional Amount in Make-whole Shares, the requirements
and provisions for either Private Placement Settlement or Registration Settlement shall apply to such payment. This provision shall
be applied successively until the Additional Amount is equal to zero, subject to paragraph 5(n) below. “Freely Tradeable Value” means the value of the number of Shares delivered to Dealer
which such Shares would have if they were freely tradeable (without prospectus delivery) upon receipt by Dealer, as determined
by the Calculation Agent by commercially reasonable means.






 


		(iv)	Without limiting the generality of the foregoing, Counterparty agrees that any Restricted Shares
delivered to Dealer, as purchaser of such Restricted Shares, (A) may be transferred by and among Dealer and its affiliates and
Counterparty shall effect such transfer without any further action by Dealer and (B) after the minimum “holding period”
within the meaning of Rule 144(d) under the Securities Act has elapsed after any settlement date for such Restricted Shares, Counterparty
shall promptly remove, or cause the transfer agent for such Restricted Shares to remove, any legends referring to any such restrictions
or requirements from such Restricted Shares upon delivery by Dealer (or such affiliate of Dealer) to Counterparty or such transfer
agent of seller’s and broker’s representation letters customarily delivered by Dealer in connection with resales of
restricted securities pursuant to Rule 144 under the Securities Act, without any further requirement for the delivery of any certificate,
consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of any other amount or
any other action by Dealer (or such affiliate of Dealer).



 


If the Private Placement Settlement
or the Registration Settlement shall not be effected as set forth in clauses (i), (ii) or (iii), as applicable, then failure to
effect such Private Placement Settlement or such Registration Settlement shall constitute an Event of Default with respect to which
Counterparty shall be the Defaulting Party.


 



    	19



    	 



    
 


		(l)	Limit on Beneficial Ownership.  Notwithstanding any other provisions hereof, Dealer may
not exercise any Warrant hereunder, Automatic Exercise shall not apply with respect thereto, and no delivery hereunder (including
pursuant to paragraphs 5(j), (k), (m) or (n)) shall be made, to the extent (but only to the extent) that, the receipt of any Shares
upon such exercise or delivery would result in the existence of an Excess Ownership Position. Any purported delivery hereunder
shall be void and have no effect to the extent (but only to the extent) that such delivery would result in the existence of an
Excess Ownership Position. If any delivery owed to Dealer hereunder is not made, in whole or in part, as a result of this provision,
Counterparty’s obligation to make such delivery and Dealer’s right to exercise a Warrant shall not be extinguished
and Counterparty shall make such delivery as promptly as practicable after, but in no event later than one Scheduled Trading Day
after, Dealer gives notice to Counterparty that, such exercise or delivery would not result in the existence of an Excess Ownership
Position.






 


		(m)	Share Deliveries. Counterparty acknowledges and agrees that, to the extent that Dealer is
not then an affiliate, as such term is used in Rule 144 under the Securities Act, of Counterparty and has not been such an affiliate
of Counterparty for 90 days (it being understood that Dealer shall not be considered such an affiliate of Counterparty solely by
reason of its receipt of or right to receive Shares pursuant to this Transaction), and otherwise satisfies all holding period and
other requirements of Rule 144 under the Securities Act applicable to it, any Shares or Termination Delivery Units delivered hereunder
at any time after 1 year from the Premium Payment Date shall be eligible for resale under Rule 144 under the Securities Act, and
Counterparty agrees to promptly remove, or cause the transfer agent for such Shares or Termination Delivery Units to remove, any
legends referring to any restrictions on resale under the Securities Act from the certificates representing such Shares or Termination
Delivery Units. Counterparty further agrees that with respect to any Shares or Termination Delivery Units delivered hereunder at
any time after 6 months from the Premium Payment Date but prior to 1 year from the Premium Payment Date, to the extent that Counterparty
then satisfies the current information requirement of Rule 144 under the Securities Act, Counterparty shall promptly remove, or
cause the transfer agent for such Shares or Termination Delivery Units to remove, any legends referring to any such restrictions
or requirements from the certificates representing such Shares or Termination Delivery Units upon delivery by Dealer to Counterparty
or such transfer agent of customary seller’s and broker’s representation letters in connection with resales of such
Shares or Termination Delivery Units pursuant to Rule 144 under the Securities Act, without any further requirement for the delivery
of any certificate, consent, agreement, opinion of counsel, notice or any other document, any transfer tax stamps or payment of
any other amount or any other action by Dealer. Counterparty further agrees and acknowledges that Dealer shall run a holding period
under Rule 144 under the Securities Act with respect to the Warrants and/or any Shares or Termination Delivery Units delivered
hereunder notwithstanding the existence of any other transaction or transactions between Counterparty and Dealer relating to the
Shares. Counterparty further agrees that Shares or Termination Delivery Units delivered hereunder prior to the date that is 6 months
from the Premium Payment Date may be freely transferred by Dealer to its affiliates, and Counterparty shall effect such transfer
without any further action by Dealer. Notwithstanding anything to the contrary herein, Counterparty agrees that any delivery of
Shares or Termination Delivery Units shall be effected by book-entry transfer through the facilities of the Clearance System if,
at the time of such delivery, the certificates representing such Shares or Termination Delivery Units would not contain any restrictive
legend as described above. Notwithstanding anything to the contrary herein, to the extent the provisions of Rule 144 under the
Securities Act or any successor rule are amended, or the applicable interpretation thereof by the Securities and Exchange Commission
or any court changes after the Trade Date, including without limitation to lengthen or shorten the holding periods, the agreements
of Counterparty herein shall be deemed modified to the extent necessary, in the opinion of nationally recognized outside counsel
of Counterparty, to comply with Rule 144 under the Securities Act, including Rule 144, as in effect at the time of delivery of
the relevant Shares or Termination Delivery Units.



  



    	20



    	 



    



 


		(n)	Maximum Share Delivery. Notwithstanding any other provision of this Confirmation or the
Agreement, in no event will Counterparty be required to deliver more than 3,122,834 Shares (the “Maximum Amount”)
in the aggregate to Dealer in connection with the Transaction, subject to the provisions below regarding Deficit Shares. In the
event Counterparty shall not have delivered the full number of Shares otherwise due in connection with the Transaction as a result
of the first sentence of this paragraph relating to the Maximum Amount (such deficit, the “Deficit Shares”),
Counterparty shall be continually obligated to deliver, from time to time until the full number of Deficit Shares have been delivered
pursuant to this paragraph, Shares when, and to the extent, that (i) Shares are repurchased, acquired or otherwise received by
Counterparty or any of its subsidiaries after the Trade Date (whether or not in exchange for cash, fair value or any other consideration),
(ii) authorized and unissued Shares reserved for issuance in respect of other transactions prior to such date which prior to the
relevant delivery date become no longer so reserved and (iii) Counterparty additionally authorizes any unissued Shares that are
not reserved for other transactions. Counterparty shall immediately notify Dealer of the occurrence of any of the foregoing events
(including the aggregate number of Shares subject to clause (i), (ii) or (iii) and the corresponding number of Shares to be delivered)
and promptly deliver of such aggregate number of Shares thereafter.



 


		(o)	No Material Non-Public Information. On each day during the period beginning on the Trade
Date and ending on the day on which Dealer has informed Counterparty in writing that Dealer has completed all purchases or sales
of Shares or other transactions to hedge initially its exposure with respect to the Transaction, Counterparty represents and warrants
to Dealer that it is not aware of any material non-public information concerning itself or the Shares. “Material” information
for these purposes is any information to which an investor would reasonably attach importance in reaching a decision to buy, sell
or hold Shares.



 


		(p)	Tax Disclosure. Notwithstanding anything to the contrary herein, in the Equity Definitions
or in the Agreement, and notwithstanding any express or implied claims of exclusivity or proprietary rights, the parties (and each
of their employees, representatives or other agents) are authorized to disclose to any and all persons, beginning immediately upon
commencement of their discussions and without limitation of any kind, the tax treatment and tax structure of the Transaction, and
all materials of any kind (including opinions or other tax analyses) that are provided by either party to the other relating to
such tax treatment and tax structure.



 


		(q)	Status of Claims in Bankruptcy. Dealer acknowledges and agrees that this Confirmation is
not intended to convey to Dealer rights with respect to the Transaction that are senior to the claims of common stockholders in
any U.S. bankruptcy proceedings of Counterparty; provided that nothing herein shall limit or shall be deemed to limit Dealer’s
right to pursue remedies in the event of a breach by Counterparty of its obligations and agreements with respect to the Transaction;
provided, further, that nothing herein shall limit or shall be deemed to limit Dealer’s rights in respect of
any transactions other than the Transaction.



 


		(r)	Securities Contract; Swap Agreement. The parties hereto agree and acknowledge that Dealer
is one or more of a “financial institution,” “swap participant” and “financial participant”
within the meaning of Sections 101(22), 101(53C) and 101(22A) of the Bankruptcy Code. The parties hereto further agree and acknowledge
(A) that this Confirmation is (i) a “securities contract,” as such term is defined in Section 741(7) of the Bankruptcy
Code, with respect to which each payment and delivery hereunder or in connection herewith is a “termination value,”
“payment amount” or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code
and a “settlement payment” or a “transfer” within the meaning of Section 546 of the Bankruptcy Code, and
(ii) a “swap agreement,” as such term is defined in Section 101(53B) of the Bankruptcy Code, with respect to which
each payment and delivery hereunder or in connection herewith is a “termination value,” a “payment amount”
or “other transfer obligation” within the meaning of Section 362 of the Bankruptcy Code and a “transfer”
within the meaning of Section 546 of the Bankruptcy Code, and (B) that Dealer is entitled to the protections afforded by, among
other sections, Section 362(b)(6), 362(b)(17), 362(b)(27), 362(o), 546(e), 546(g), 546(j), 548(d)(2), 555, 560 and 561 of the Bankruptcy
Code.



 






    	21



    	 



    
 


		(s)	Right to Extend. Dealer may postpone any potential Expiration Date or postpone or extend
any other date of valuation or delivery with respect to some or all of the relevant Warrants (in which event the Calculation Agent
shall make appropriate adjustments to the Net Share Amount for such Expiration Date), if Dealer determines, in its reasonable discretion,
that such postponement or extension is reasonably necessary or appropriate to (i) preserve Dealer’s or its affiliate’s
hedging or hedge unwind activity hereunder in light of existing liquidity conditions in the cash market or the stock loan market;
provided that any extension or postponement resulting from the circumstances or conditions contemplated by this clause (i) shall
not result in the final Expiration Date for the Transaction occurring more than eighty (80) Scheduled Trading Days following the
final Expiration Date contemplated hereunder or (ii) to enable Dealer or its affiliate to effect purchases or sale of Shares in
connection with its hedging, hedge unwind or settlement activity hereunder in a manner that would, if Dealer or such affiliate
were Issuer or an affiliated purchaser of Issuer, be in compliance with applicable legal, regulatory or self-regulatory requirements,
or with related policies and procedures applicable to Dealer and/or such affiliate.



 


		(t)	Payments on Early Termination. The parties hereto agree that for the Transaction, for the
purposes of Section 6(e) of the Agreement, Second Method and Loss will apply. The Termination Currency shall be USD.



 


		(u)	Governing Law. The law of the State of New York (without reference to choice of law doctrine).



 


		(v)	Waiver of Jury Trial. Each party waives, to the
fullest extent permitted by applicable law, any right it may have to a trial by jury in respect of any suit, action or proceeding
relating to the Transaction. Each party (i) certifies that no representative, agent or attorney of the other party has represented,
expressly or otherwise, that such other party would not, in the event of such a suit, action or proceeding, seek to enforce the
foregoing waiver and (ii) acknowledges that it and the other party have been induced to enter into the Transaction, as applicable,
by, among other things, the mutual waivers and certifications provided herein.



 


		(w)	Part 2(b) of the ISDA Schedule – Payee Representation:



 


For the purpose of Section 3(f) of this Agreement, Counterparty
makes the following representation to Dealer:


 


Counterparty is a corporation established under the laws
of the State of Delaware and is a U.S. person (as that term is defined in Section 7701(a)(30) of the United States Internal Revenue
Code of 1986, as amended).


 


For the purpose of Section 3(f) of this Agreement, Dealer
makes the following representation to Counterparty:


 


(A)Each payment received or to be received by it in
connection with this Agreement is effectively connected with its conduct of a trade or business within the United States; and


 


(B)It is a “foreign person” (as that term
is used in Section 1.6041-4(a)(4) of the United States Treasury Regulations) for United States federal income tax purposes.


  



    	22



    	 



    



 


		(x)	Part 3(a) of the ISDA Schedule – Tax Forms:



 


Party Required to Deliver Document


 





	 	 	Form/Document/Certificate	 	Date by which to be Delivered
	Counterparty	 	A complete and duly executed United States Internal Revenue Service Form W-9 (or successor thereto.)	 	(i) Upon execution and delivery of this Agreement and (ii) promptly upon learning that any such Form previously provided by Counterparty has become obsolete or incorrect.
	 	 	 	 	 
	Dealer	 	A complete and duly executed United States Internal Revenue Service Form W-8ECI (or successor thereto.)	 	(i) Upon execution and delivery of this Agreement and (ii) promptly upon learning that any such Form previously provided by Dealer has become obsolete or incorrect.







  


		(y)	Additional ISDA Schedule Terms



 


(i)     Automatic
Early Termination. The “Automatic Early Termination” provision of Section 6(a) of the Agreement will not apply
to Dealer and will not apply to Counterparty.


 


(ii)    Consent
to Recording. Each party (i) consents to the monitoring or recording, at any time and from time to time, by the other party
of any and all communications between officers or employees of the parties, (ii) waives any further notice of such monitoring or
recording, and (iii) agrees to notify (and, if required by law, obtain the consent of) its officers and employees with respect
to such monitoring or recording. Any such recording may be submitted in evidence to any court or in any Proceeding for the purpose
of establishing any matters pertinent to this Transaction.


 


(iii)   Severability.
In the event any one or more of the provisions contained in this Confirmation or the Agreement shall be held illegal, invalid or
unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein and therein
shall not in any way be affected or impaired thereby.


 


6.        Account
Details:


 


		(a)	Account for payments to Counterparty:



 


DealerTrack
Holdings, Inc.


Bank Name: JP
Morgan Chase


ABA: 021000021


Account Name:
DealerTrack Holdings, Inc


Account Number:
304641383


 


		(b)	Account for payments to Dealer:



 


Bank: Barclays Bank plc NY


ABA#: 026 00 2574 


BIC: BARCUS33


Acct: 50038524


Beneficiary: BARCGB33


Ref: Barclays
Bank plc London Equity Derivatives


 


Account for
delivery of Shares to Dealer: To Be Advised.


 


7.        Offices:


 


The Office of Counterparty for the Transaction
is: Inapplicable, Counterparty is not a Multibranch Party.


 


The Office of Dealer for the Transaction is:
Inapplicable, Dealer is not a Multibranch Party.


 






    	23



    	 



    
 


8.        Notices:



 


For purposes of this Confirmation:


 


		(a)	Address for notices or communications to Counterparty:



 


DealerTrack
Holdings, Inc.


1111 Marcus
Ave.


Suite M04


Lake Success,
NY 11042


Attention: President
and Chief Executive Officer


Telephone No.:
516 734-3700





Facsimile No.:
516 300-8003


 


with a copy to:


 


DealerTrack
Holdings, Inc.


1111 Marcus
Ave.


Suite M04


Lake Success,
NY 11042


Attention: General
Counsel


Telephone No.:
516 734-3822





Facsimile No.:
516 908-4958


 


		(b)	Address for notices or communications to Dealer:



 


Barclays Capital Inc.


745 Seventh Ave.


New York, NY 10019


Attention: General Counsel


Telephone: (+1) 212-412-4000





Facsimile: (+1)
212-412-7519


 


with a copy to:


 


Barclays Capital Inc.


745 Seventh Ave.


New York, NY 10019


		Attn:	Paul Robinson



		Telephone:	(+1) 212-526-0111






		Facsimile:	(+1) 917-522-0458



 


and


 


Barclays Bank PLC, 5 The North Colonnade


Canary Wharf, London E14 4BB


Facsimile: 44(20) 777 36461


Phone: 44(20) 777
36810 


 


This Confirmation may be executed in several
counterparts, each of which shall be deemed an original but all of which together shall constitute one and the same instrument.


 



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THE SECURITIES REPRESENTED BY THE CONFIRMATION
HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY
OTHER UNITED STATES FEDERAL OR STATE SECURITIES LAWS; SUCH SECURITIES MAY NOT BE SOLD OR OTHERWISE TRANSFERRED IN THE ABSENCE OF
APPROPRIATE REGISTRATION UNDER SUCH SECURITIES LAWS OR EXCEPT IN A TRANSACTION EXEMPT FROM OR NOT SUBJECT TO THE REGISTRATION REQUIREMENTS
OF SUCH SECURITIES LAWS.


 






    	25



    	 



    
 


Counterparty hereby agrees to check this Confirmation
and to confirm that the foregoing correctly sets forth the terms of the Transaction by signing in the space provided below and
returning to Dealer a facsimile of the fully-executed Confirmation to Dealer at (+1) 917-522-0458. Originals shall be provided
for your execution upon your request.


 


	Very truly yours,	 
	 	 
	BARCLAYS CAPITAL INC.,	 
	acting solely as Agent in connection with this Transaction
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 
	 	 
	Accepted and confirmed as of the Trade Date:	 
	 	 
	DealerTrack
    Holdings, Inc.	 
	 	 
	By:	 	 
	 	Name:	 
	 	Title:	 


 






    	26



    	 



    
 


SCHEDULE A


 


For purposes of this Transaction, the following terms shall have
the following values/meanings:


 





	1.	Strike Price:	USD 46.1835.
	 	 	 
	2.	Premium:	USD 8,675,901.50.
	 	 	 
	3.	Final Disruption Date:	October 19, 2017.







 



    	27



    	 



    



  


SCHEDULE B


 


For each Component of the Transaction, the
Number of Warrants and Expiration Date is set forth below.


 


 


	Component Number	 	Number of
    Warrants	 	Expiration Date
	1.	 	19,518	 	June 15, 2017
	2.	 	19,518	 	June 16, 2017
	3.	 	19,518	 	June 19, 2017
	4.	 	19,518	 	June 20, 2017
	5.	 	19,518	 	June 21, 2017
	6.	 	19,518	 	June 22, 2017
	7.	 	19,518	 	June 23, 2017
	8.	 	19,518	 	June 26, 2017
	9.	 	19,518	 	June 27, 2017
	10.	 	19,518	 	June 28, 2017
	11.	 	19,518	 	June 29, 2017
	12.	 	19,518	 	June 30, 2017
	13.	 	19,518	 	July 3, 2017
	14.	 	19,518	 	July 5, 2017
	15.	 	19,518	 	July 6, 2017
	16.	 	19,518	 	July 7, 2017
	17.	 	19,518	 	July 10, 2017
	18.	 	19,518	 	July 11, 2017
	19.	 	19,518	 	July 12, 2017
	20.	 	19,518	 	July 13, 2017
	21.	 	19,518	 	July 14, 2017
	22.	 	19,518	 	July 17, 2017
	23.	 	19,518	 	July 18, 2017
	24.	 	19,518	 	July 19, 2017
	25.	 	19,518	 	July 20, 2017
	26.	 	19,518	 	July 21, 2017
	27.	 	19,518	 	July 24, 2017
	28.	 	19,518	 	July 25, 2017
	29.	 	19,518	 	July 26, 2017
	30.	 	19,518	 	July 27, 2017
	31.	 	19,518	 	July 28, 2017
	32.	 	19,518	 	July 31, 2017
	33.	 	19,518	 	August 1, 2017
	34.	 	19,518	 	August 2, 2017
	35.	 	19,518	 	August 3, 2017
	36.	 	19,518	 	August 4, 2017
	37.	 	19,518	 	August 7, 2017
	38.	 	19,518	 	August 8, 2017
	39.	 	19,518	 	August 9, 2017
	40.	 	19,518	 	August 10, 2017
	41.	 	19,518	 	August 11, 2017
	42.	 	19,518	 	August 14, 2017
	43.	 	19,518	 	August 15, 2017
	44.	 	19,518	 	August 16, 2017
	45.	 	19,518	 	August 17, 2017
	46.	 	19,518	 	August 18, 2017
	47.	 	19,518	 	August 21, 2017
	48.	 	19,518	 	August 22, 2017
	49.	 	19,518	 	August 23, 2017
	50.	 	19,518	 	August 24, 2017
	51.	 	19,518	 	August 25, 2017
	52.	 	19,518	 	August 28, 2017
	53.	 	19,518	 	August 29, 2017
	54.	 	19,518	 	August 30, 2017
	55.	 	19,518	 	August 31, 2017
	56.	 	19,518	 	September 1, 2017
	57.	 	19,518	 	September 5, 2017
	58.	 	19,518	 	September 6, 2017
	59.	 	19,518	 	September 7, 2017
	60.	 	19,518	 	September 8, 2017
	61.	 	19,518	 	September 11, 2017
	62.	 	19,518	 	September 12, 2017
	63.	 	19,518	 	September 13, 2017
	64.	 	19,518	 	September 14, 2017
	65.	 	19,518	 	September 15, 2017
	66.	 	19,518	 	September 18, 2017
	67.	 	19,518	 	September 19, 2017
	68.	 	19,518	 	September 20, 2017
	69.	 	19,518	 	September 21, 2017
	70.	 	19,518	 	September 22, 2017
	71.	 	19,518	 	September 25, 2017
	72.	 	19,518	 	September 26, 2017
	73.	 	19,518	 	September 27, 2017
	74.	 	19,518	 	September 28, 2017
	75.	 	19,518	 	September 29, 2017
	76.	 	19,518	 	October 2, 2017
	77.	 	19,518	 	October 3, 2017
	78.	 	19,518	 	October 4, 2017
	79.	 	19,518	 	October 5, 2017
	80.	 	19,529	 	October 6, 2017


...






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