Registration Rights Agreement of Team Health Holdings, Inc.



 Exhibit 4.2 
  
  
  
 REGISTRATION RIGHTS AGREEMENT

 by and among 
 TEAM HEALTH HOLDINGS, INC., 
 ENSEMBLE PARENT LLC, 
 and 
 the
MANAGEMENT STOCKHOLDERS a party hereto 
 Dated as of December 15, 2009 
  
  
  







 TABLE OF CONTENTS 
  

					
	 	  	 	  	Page
	 ARTICLE I DEFINITIONS
	  	1
	 SECTION 1.1
	  	 Certain Definitions
	  	1
	 SECTION 1.2
	  	 Other Definitional Provisions; Interpretation
	  	4
		
	 ARTICLE II REGISTRATION RIGHTS
	  	4
	 SECTION 2.1
	  	 Piggyback Rights
	  	4
	 SECTION 2.2
	  	 Demand Registration
	  	6
	 SECTION 2.3
	  	 Registration Procedures
	  	7
	 SECTION 2.4
	  	 Other Registration-Related Matters
	  	10
		
	 ARTICLE III INDEMNIFICATION
	  	12
	 SECTION 3.1
	  	 Indemnification by the Company
	  	12
	 SECTION 3.2
	  	 Indemnification by the Holders and Underwriters
	  	13
	 SECTION 3.3
	  	 Notices of Claims, Etc.
	  	13
	 SECTION 3.4
	  	 Contribution
	  	13
	 SECTION 3.5
	  	 Other Indemnification
	  	14
	 SECTION 3.6
	  	 Non-Exclusivity
	  	14
		
	 ARTICLE IV OTHER
	  	14
	 SECTION 4.1
	  	 Notices
	  	14
	 SECTION 4.2
	  	 Assignment
	  	15
	 SECTION 4.3
	  	 Amendments; Waiver
	  	15
	 SECTION 4.4
	  	 Third Parties
	  	15
	 SECTION 4.5
	  	 Governing Law
	  	15
	 SECTION 4.6
	  	 Jurisdiction
	  	16
	 SECTION 4.7
	  	 MUTUAL WAIVER OF JURY TRIAL
	  	16
	 SECTION 4.8
	  	 Specific Performance
	  	16
	 SECTION 4.9
	  	 Entire Agreement
	  	16
	 SECTION 4.10
	  	 Severability
	  	16
	 SECTION 4.11
	  	 Counterparts
	  	16
	 SECTION 4.12
	  	 Effectiveness
	  	16

  

 i 








 REGISTRATION RIGHTS AGREEMENT 
 THIS REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is dated December 15, 2009 and is by and among Team Health
Holdings, Inc., a Delaware corporation (the “Company”) (to be converted from Team Health Holdings, LLC in connection with the initial public offering (“IPO”) of shares of Common Stock (as hereinafter defined) of the
Company), Ensemble Parent LLC, a Delaware limited liability company (“Ensemble Parent”) and the Management Stockholders (as hereinafter defined) a party hereto. 
 BACKGROUND 
 WHEREAS, the Company is currently contemplating
an underwritten IPO of shares of its Common Stock; and 
 WHEREAS, the Company desires to grant registration rights to Ensemble
Parent and the Management Stockholders on the terms and conditions set out in this Agreement. 
 NOW, THEREFORE, the parties
agree as follows: 
 ARTICLE I 
 DEFINITIONS 
 SECTION 1.1 Certain Definitions. As used in this
Agreement: 
 “Affiliate” has the meaning ascribed thereto in Rule 12b-2 promulgated under the
Exchange Act, as in effect on the date hereof. 
 “Agreement” has the meaning set forth in the
preamble. 
 “Board” means the board of directors of the Company. 
 “Business Day” means a day other than a Saturday, Sunday, federal or New York State holiday or other day on
which commercial banks in New York City are authorized or required by law to close. 
 “Closing
Date” means the date of completion of the IPO. 
 “Company” has the meaning set forth
in the preamble. 
 “Common Stock” means the shares of common stock, par value $0.01 per share,
of the Company, and any other capital stock of the Company into which such stock is reclassified or reconstituted and any other common stock of the Company. 
 “Control” (including its correlative meanings, “Controlled by” and “under common
Control with”) means possession, directly or indirectly, of the power to direct or cause the direction of management or policies (whether through ownership of securities or partnership or other ownership interests, by contract or otherwise)
of a Person. 
 “Demand Party” has the meaning set forth in Section 2.2(a). 









 “Ensemble Parent” has the meaning set forth in the
preamble. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations promulgated thereunder, as the same may be amended from time to time. 
 “FINRA”
means the Financial Industry Regulatory Authority. 
 “Governmental Authority” means any nation
or government, any state or other political subdivision thereof, and any entity exercising executive, legislative, judicial, regulatory or administrative functions of or pertaining to government. 
 “Holder” means Ensemble Parent and each Management Stockholder that is a holder of Registrable Securities or
any Transferee of such Person to whom registration rights are assigned pursuant to Article III. 
 “Indemnified Parties” has the meaning set forth in Section 3.1. 
 “IPO” has the meaning set forth in the preamble. 
 “Law” means any
statute, law, regulation, ordinance, rule, injunction, order, decree, governmental approval, directive, requirement, or other governmental restriction or any similar form of decision of, or determination by, or any interpretation or administration
of any of the foregoing by, any Governmental Authority. 
 “Lockup Period” has the meaning set
forth in Section 2.4(d)(i). 
 “Management Stockholder” means those stockholders of the
Company who are identified as Management Stockholders on Schedule A hereto, and shall include their respective Transferees who have become stockholders of the Company. 
 “Person” means an individual, a partnership, a corporation, a limited liability company, an association, a
joint stock company, a trust, a joint venture, an unincorporated organization and a governmental entity or any department, agency or political subdivision thereof. 
 “Public Offering” means a public offering of equity securities in the Company or any successor thereto or
any Subsidiary of the Company pursuant to a registration statement declared effective under the Securities Act. 
 “Registrable Securities” means all shares of Common Stock and any Securities into which the Common Stock may be converted or exchanged pursuant to any merger, consolidation, sale of all or any part of its assets, corporate
conversion or other extraordinary transaction of the Company held by a Holder (whether now held or hereafter acquired, and including any such Securities received by a Holder upon the conversion or exchange of, or pursuant to such a transaction with
respect to, other capital stock held by such Holder). As to any Registrable Securities, such Securities will cease to be Registrable Securities when: 
 (i) a registration statement covering such Registrable Securities has been declared effective and such Registrable Securities have been disposed of pursuant to such effective registration statement;

  

 -2- 








 (ii) such Registrable Securities shall have been sold pursuant to Rule 144
or 145 (or any similar provision then in effect) under the Securities Act; 
 (iii) such Registrable Securities
may be sold pursuant to Rule 144 or 145 (or any similar provision then in effect) under the Securities Act, without reporting obligations or restriction as to volume; or 
 (iv) such Registrable Securities cease to be outstanding. 
 “Registration Expenses” means any and all expenses incident to the performance by the Company of its
obligations under this Agreement, including: 
 (i) all SEC, stock exchange, or FINRA registration and filing
fees (including, if applicable, the fees and expenses of any “qualified independent underwriter,” as such term is defined in Rule 2720 of FINRA, and of its counsel); 
 (ii) all fees and expenses of complying with securities or blue sky Laws (including fees and disbursements of counsel for the
underwriters in connection with blue sky qualifications of the Registrable Securities); 
 (iii) all printing,
messenger and delivery expenses; 
 (iv) all fees and expenses incurred in connection with the listing of the
Registrable Securities on any securities exchange or FINRA and all rating agency fees; 
 (v) the reasonable fees
and disbursements of counsel for the Company and of its independent public accountants, including the expenses of any special audits and/or “cold comfort” letters required by or incident to such performance and compliance; 
 (vi) any fees and disbursements of underwriters customarily paid by the issuers or sellers of Securities, including liability
insurance if the Company so desires or if the underwriters so require, and the reasonable fees and expenses of any special experts retained in connection with the requested registration, but excluding underwriting discounts and commissions and
transfer taxes, if any; 
 (vii) the reasonable fees and out-of-pocket expenses of not more than one law firm (as
selected by the holders of a majority of the Registrable Securities included in such registration) incurred by all the Holders in connection with the registration; 
 (viii) the costs and expenses of the Company relating to analyst and investor presentations or any “road show”
undertaken in connection with the registration and/or marketing of the Registrable Securities (including the reasonable out-of-pocket expenses of the Holders); and 
 (ix) any other fees and disbursements customarily paid by the issuers of securities. 
 “SEC” means the Securities and Exchange Commission or any successor agency. 
 “Securities” means capital stock, limited partnership interests, limited liability company interests,
beneficial interests, warrants, options, notes, bonds, debentures, and other securities, equity interests, ownership interests and similar obligations of every kind and nature of any Person. 
  

 -3- 








 “Securities Act” means the U.S. Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder, as the same may be amended from time to time. 
 “Subsidiary” means, with respect to any Person, any corporation, limited liability company, partnership, association or other business entity of which: (i) if a corporation, a majority of the total voting power of
shares of stock entitled (without regard to the occurrence of any contingency) to vote in the election of directors, representatives or trustees thereof is at the time owned or Controlled, directly or indirectly, by that Person or one or more of the
other Subsidiaries of that Person or a combination thereof; or (ii) if a limited liability company, partnership, association or other business entity, a majority of the total voting power of stock (or equivalent ownership interest) of the
limited liability company, partnership, association or other business entity is at the time owned or Controlled, directly or indirectly, by any Person or one or more Subsidiaries of that Person or a combination thereof. For purposes hereof, a Person
or Persons shall be deemed to have a majority ownership interest in a limited liability company, partnership, association or other business entity if such Person or Persons shall be allocated a majority of limited liability company, partnership,
association or other business entity gains or losses or shall be or Control the managing director or general partner of such limited liability company, partnership, association or other business entity. 
 “Transfer” (including its correlative meanings, “Transferor”, “Transferee”
and “Transferred”) shall mean, with respect to any security, directly or indirectly, to sell, contract to sell, give, assign, hypothecate, pledge, encumber, grant a security interest in, offer, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend or otherwise transfer or dispose of any economic, voting or other rights in or to such security. When used as a noun, “Transfer”
shall have such correlative meaning as the context may require. 
 SECTION 1.2 Other Definitional Provisions;
Interpretation. 
 (a) The words “hereof,” “herein,” and “hereunder” and
words of similar import when used in this Agreement refer to this Agreement as a whole and not to any particular provision of this Agreement, and references in this Agreement to a designated “Article” or “Section” refer to an
Article or Section of this Agreement unless otherwise specified. 
 (b) The headings in this Agreement are included for
convenience of reference only and do not limit or otherwise affect the meaning or interpretation of this Agreement. 
 (c) The
meanings given to terms defined herein are equally applicable to both the singular and plural forms of such terms. 
 ARTICLE II

 REGISTRATION RIGHTS 
 SECTION 2.1 Piggyback Rights. 
 (a) If at any time following
expiration of the Lockup Period (or, if earlier, such time as the Demand Party exercises a demand right pursuant to Section 2.2(a)) the Company proposes to register

  

 -4- 








 
Securities under the Securities Act (other than a registration on Form S-4 or S-8, or any successor or other forms promulgated for similar purposes) in a secondary offering, in a manner which
would permit registration of Registrable Securities for sale to the public under the Securities Act, it will, at each such time following expiration of the Lockup Period (or if earlier, such time as the Demand Party exercises a demand right pursuant
to Section 2.2(a)), give prompt written notice to the Holders of its intention to do so and of such Holder’s rights under this Section 2.1. Upon the written request of any Holder made within fifteen (15) days after the receipt of
any such notice (which request shall specify the number of Registrable Securities intended to be disposed of by such Holder), the Company will use its best efforts to effect the registration under the Securities Act of all Registrable Securities
which the Holders have so requested to be registered; provided that: (i) if, at any time after giving written notice of its intention to register any Securities and prior to the effective date of the registration statement filed in
connection with such registration, the Company shall determine for any reason not to proceed with the proposed registration of the Securities to be sold by it, the Company may, at its election, give written notice of such determination to the
Holders and, thereupon, the Company shall be relieved of its obligation to register any Registrable Securities in connection with such registration (but not from its obligation to pay the Registration Expenses incurred in connection therewith); and
(ii) if such registration involves an underwritten offering, the Holders of Registrable Securities requesting to be included in the registration must sell their Registrable Securities to the underwriters selected by the Company on the same
terms and conditions as apply to the Company, with, in the case of a combined primary and secondary offering, only such differences, including any with respect to representations and warranties, indemnification and liability insurance, as may be
customary or appropriate in combined primary and secondary offerings. 
 (b) Expenses. The Company will pay all
Registration Expenses in connection with each registration of Registrable Securities requested pursuant to this Section 2.1. 
 (c) Priority in Piggyback Registrations. If a registration pursuant to this Section 2.1 involves an underwritten offering and the managing underwriter advises the Company in writing that, in its opinion, the number of
Registrable Securities and other Securities requested to be included in such registration exceeds the number which can be sold in such offering, so as to be likely to have an adverse effect on the price, timing or distribution of the Securities
offered in such offering, then the Company will include in such registration: (i) first, 100% of the Securities the Company proposes to sell; and (ii) second, such number of Registrable Securities requested to be included in such
registration which, in the opinion of such managing underwriter, can be sold without having the adverse effect referred to above, which number of Registrable Securities shall be allocated pro rata among all such requesting holders of
Registrable Securities on the basis of the relative number of Registrable Securities then held by each such Holder (provided that any Securities thereby allocated to any such Holder that exceed such Holder’s request will be reallocated
among the remaining requesting Holders in like manner). 
 (d) Excluded Transactions. The Company shall not be obligated
to effect any registration of Registrable Securities under this Section 2.1 incidental to the registration of any of its Securities in connection with: 
 (1) any Public Offering relating to employee benefits plans or dividend reinvestment plans; or 
 (2) any Public Offering relating to the acquisition or merger after the date hereof by the Company or any of its Subsidiaries
of or with any other businesses. 
 (e) Selection of Underwriters. If a registration pursuant to this Section 2.1
involves an underwritten offering, Ensemble Parent shall have the right to select the investment banker or bankers and managers to administer the offering, including the lead managing underwriter; provided, however, that such
investment banker or bankers and managers shall be reasonably satisfactory to the Company. 
  

 -5- 








 (f) Additional Rights. If the Company at any time grants to any other holders of
Securities any ‘piggyback’ registration rights on terms more favorable to such holder than the terms set forth in this Section 2.1, the terms of this Section 2.1 shall be deemed amended or supplemented to the extent necessary to
provide the Holders such more favorable rights and benefits; provided, however, notwithstanding the foregoing and for the avoidance of doubt, the granting to one or more additional persons or entities of the rights provided for in this
Section 2.1 shall not be deemed to trigger the terms of this Section 2.1(f). 
 SECTION 2.2 Demand
Registration. 
 (a) General. At any time, upon the written request of Ensemble Parent (the “Demand
Party“) requesting that the Company effect the registration under the Securities Act of Registrable Securities and specifying the amount and intended method of disposition thereof, the Company will (i) promptly give written notice of
such requested registration to the other Holders and other holders of Securities entitled to notice of such registration, if any, and (ii) as expeditiously as possible, use its best efforts to file a registration statement to effect the
registration under the Securities Act of: 
 (A) such Registrable Securities which the Company has been so
requested to register by the Demand Party in accordance with the intended method of disposition thereof; and 
 (B) the Registrable Securities of other Holders which the Company has been requested to register by written request given to the Company within fifteen (15) days after the giving of such written notice by the Company. 
 Notwithstanding the foregoing, the Company shall not be obligated to file a registration statement relating to any registration request under this
Section 2.2(a): 
 (x) within a period of one hundred eighty (180) days (or such lesser period as the
managing underwriters in an underwritten offering may permit) after the effective date of any other registration statement relating to any registration request under this Section 2.2(a) or relating to any registration referred to in
Section 2.1; 
 (y) if, in the good faith judgment of the Board, the Company is in possession of material
non-public information the disclosure of which would be materially adverse to the Company and would not otherwise be required under Law, in which case the filing of the registration statement may be delayed until the earlier of the second Business
Day after such conditions shall have ceased to exist and the 90th day after receipt by the Company of the written request from a Demand Party to register Registrable Securities under this Section 2.2(a); provided that the Company shall
not effect such a delay more than two times in any twelve month period; or 
 (z) in any particular jurisdiction
in which the Company would be required to qualify to do business or to execute a general consent to service of process in effecting such registration, qualification or compliance unless the Company is already subject to service in such jurisdiction
and except as may be required by the Securities Act. 
 (b) Form. Each registration statement prepared at the request of
a Demand Party shall be effected on such form as reasonably requested by the Demand Party, including by a shelf registration

  

 -6- 








 
pursuant to Rule 415 under the Securities Act on a Form S-3 (or any successor rule or form thereto) if so requested by the Demand Party and if the Company is then eligible to effect a shelf
registration and use such form for such disposition. 
 (c) Expenses. The Company will pay all Registration Expenses in
connection with each registration of Registrable Securities requested pursuant to this Section 2.2. 
 (d) Selection of
Underwriters. If a requested registration pursuant to this Section 2.2 involves an underwritten offering, the Demand Party shall have the right to select the investment banker or bankers and managers to administer the offering, including
the lead managing underwriter; provided, however, that such investment banker or bankers and managers shall be reasonably satisfactory to the Company. 
 (e) Priority in Demand Registrations. If a requested registration pursuant to this Section 2.2 involves an underwritten offering and the managing underwriter advises the Company in writing
that, in its opinion, the number of Registrable Securities requested to be included in such registration (including Securities of the Company which are not Registrable Securities) exceeds the number which can be sold in such offering, so as to be
likely to have an adverse effect on the price, timing or distribution of the Securities offered in such offering, then the number of such Registrable Securities to be included in such registration shall be allocated pro rata among the Demand
Party all of the following parties on the basis of the relative number of Securities proposed to be offered in such offering (provided that any Securities thereby allocated to any such Holder that exceed such Holder’s request will be
reallocated among all such remaining parties in like manner): (i) the Registrable Securities the Demand Party proposes to sell; (ii) the Securities the Company proposes to sell for its own account; and (iii) the Registrable Securities
requested to be sold by Holders pursuant to Section 2.1(a). 
 (f) Additional Rights. Any grant by the Company to
any other holders of Securities of any rights to request the Company to effect the registration under the Securities Act of any Securities will be made pursuant to this Agreement or an amendment hereto. If the Company at any time grants to any other
holders of Securities any rights to request the Company to effect the registration under the Securities Act of any such Securities on terms more favorable to such holder than the terms set forth in this Section 2.2, the terms of this
Section 2.2 shall be deemed amended or supplemented to the extent necessary to provide the Holders such more favorable rights and benefits, including any change in the priority established in Section 2.2(e) for the benefit of all the
Holders hereunder (it being understood, for the avoidance of doubt, that the granting to one or more additional persons or entities the right to effect registrations similar to the right provided for in this Section 2.2 shall not be deemed to
be a change in the priority established by Section 2.2(e). 
 SECTION 2.3 Registration Procedures. If and
whenever the Company is required to file a registration statement with respect to, or to use its best efforts to effect or cause the registration of, any Registrable Securities under the Securities Act as provided in this Agreement, the Company will
as expeditiously as possible: 
 (a) prepare and, in any event within ninety (90) days after a request for registration is
given to the Company pursuant to Section 2.2, file with the SEC a registration statement on an appropriate form with respect to such Registrable Securities and use its best efforts to cause such registration statement to become effective;
provided, however, that the Company may discontinue any registration of Securities which it has initiated for its own account at any time prior to the effective date of the registration statement relating thereto (and, in such event,
the Company shall pay the Registration Expenses incurred in connection therewith); and provided, further, that before filing a registration statement or prospectus, or any amendments or supplements thereto, the Company will furnish to
counsel for the sellers of Registrable Securities covered by such registration statement copies of all documents proposed to be filed, which documents will be subject to the review of such counsel; 
  

 -7- 








 (b) prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection therewith as may be necessary to keep such registration statement effective for a period not in excess of two hundred seventy (270) days (which period shall not be applicable in the case of a
shelf registration effected pursuant to a request under Section 2.2(b)) and to comply with the provisions of the Securities Act and the Exchange Act with respect to the disposition of all Securities covered by such registration statement during
such period in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such registration statement; provided that before filing a registration statement or prospectus, or any amendments or supplements
thereto, the Company will furnish to counsel for the sellers of Registrable Securities covered by such registration statement copies of all documents proposed to be filed, which documents will be subject to the review of such counsel; 
 (c) furnish to each seller of such Registrable Securities such number of copies of such registration statement and of each amendment and
supplement thereto (in each case including all exhibits filed therewith, including any documents incorporated by reference), such number of copies of the prospectus included in such registration statement (including each preliminary prospectus and
summary prospectus), in conformity with the requirements of the Securities Act, and such other documents as such seller may reasonably request in order to facilitate the disposition of the Registrable Securities by such seller; 
 (d) use its best efforts to register or qualify such Registrable Securities covered by such registration in such jurisdictions as each
seller shall reasonably request, and do any and all other acts and things which may be reasonably necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by such seller,
except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction where, but for the requirements of this subsection (d), it would not be obligated to be so qualified,
to subject itself to taxation in any such jurisdiction or to consent to general service of process in any such jurisdiction; 
 (e) use its best efforts to cause such Registrable Securities covered by such registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers
thereof to consummate the disposition of such Registrable Securities; 
 (f) notify each seller of any such Registrable
Securities covered by such registration statement, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of the Company’s becoming aware that the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing, and at the
request of any such seller, prepare and furnish to such seller a reasonable number of copies of an amended or supplemental prospectus as may be necessary so that, as thereafter delivered to the purchasers of such Registrable Securities, such
prospectus shall not include 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 not misleading in the light of the circumstances then existing;

 (g) otherwise use its 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 (but not more than eighteen (18) months) after the effective date of the registration statement, an earnings statement which shall satisfy the provisions of Section 11(a) of the
Securities Act; 
  

 -8- 








 (h) (i) use its best efforts to list such Registrable Securities on any securities exchange
on which other Securities of the Company are then listed if such Registrable Securities are not already so listed and if such listing is then permitted under the rules of such exchange; and (ii) use its best efforts to provide a transfer agent
and registrar for such Registrable Securities covered by such registration statement not later than the effective date of such registration statement; 
 (i) enter into such customary agreements (including an underwriting agreement in customary form), which may include indemnification provisions in favor of underwriters and other Persons in addition to, or
in substitution for the indemnification provisions hereof, and take such other actions as sellers of a majority of such Registrable Securities or the underwriters, if any, reasonably request in order to expedite or facilitate the disposition of such
Registrable Securities; 
 (j) obtain a “cold comfort” letter or letters from the Company’s independent public
accountants in customary form and covering matters of the type customarily covered by “cold comfort” letters as the seller or sellers of a majority of such Registrable Securities shall reasonably request; 
 (k) make available for inspection by any seller of such Registrable Securities covered by such registration statement, by any underwriter
participating in any disposition to be effected pursuant to such registration statement and by any attorney, accountant or other agent retained by any such seller or any such underwriter, all pertinent financial and other records, pertinent
corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees to supply all information reasonably requested by any such seller, underwriter, attorney, accountant or agent in connection with
such registration statement; 
 (l) notify counsel for the holders of Registrable Securities included in such registration
statement and the managing underwriter or agent, immediately, and confirm the notice in writing: (i) when the registration statement, or any post-effective amendment to the registration statement, shall have become effective, or any supplement
to the prospectus or any amendment to any prospectus shall have been filed; (ii) of the receipt of any comments from the SEC; (iii) of any request of the SEC to amend the registration statement or amend or supplement the prospectus or for
additional information; and (iv) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus, or of the suspension of the
qualification of the registration statement for offering or sale in any jurisdiction, or of the institution or threatening of any proceedings for any of such purposes; 
 (m) provide each holder of Registrable Securities included in such registration statement reasonable opportunity to comment on the registration statement, any post-effective amendments to the registration
statement, any supplement to the prospectus or any amendment to any prospectus; 
 (n) make every reasonable effort to prevent
the issuance of any stop order suspending the effectiveness of the registration statement or of any order preventing or suspending the use of any preliminary prospectus and, if any such order is issued, to obtain the withdrawal of any such order at
the earliest possible moment; 
 (o) if requested by the managing underwriter or agent or any holder of Registrable Securities
covered by the registration statement, promptly incorporate in a prospectus supplement or post-effective amendment such information as the managing underwriter or agent or such holder reasonably requests to be included therein, including, with
respect to the number of Registrable Securities being sold by such holder to such underwriter or agent, the purchase price being paid therefor by such underwriter or agent and with respect to any other terms of the underwritten offering of the
Registrable Securities to be sold in such offering; and make all required filings of such prospectus supplement or post-effective amendment as soon as practicable after being notified of the matters incorporated in such prospectus supplement or
post-effective amendment; 
  

 -9- 








 (p) cooperate with the holders of Registrable Securities covered by the registration
statement and the managing underwriter or agent, if any, to facilitate the timely preparation and delivery of certificates (not bearing any restrictive legends) representing Securities to be sold under the registration statement, and enable such
Securities to be in such denominations and registered in such names as the managing underwriter or agent, if any, or the Holders may request; 
 (q) use its best efforts to make available the executive officers of the Company to participate with the holders of Registrable Securities and any underwriters in any “road shows” that may be
reasonably requested by the holders in connection with distribution of Registrable Securities; 
 (r) obtain for delivery to the
holders of Registrable Securities being registered and to the underwriter or agent an opinion or opinions from counsel for the Company in customary form and in form, substance and scope reasonably satisfactory to such holders, underwriters or agents
and their counsel; and 
 (s) 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 FINRA. 
 SECTION 2.4 Other Registration-Related Matters. 
 (a) The Company may
require any Person that is Transferring Securities in a Public Offering pursuant to Sections 2.1 or 2.2 to furnish to the Company in writing such information regarding such Person and pertinent to the disclosure requirements relating to the
registration and the distribution of the Registrable Securities which are included in such Public Offering as the Company may from time to time reasonably request in writing. 
 (b) Each Holder agrees that, upon receipt of any notice from the Company of the happening of any event of the kind described in
Section 2.3(f), it will forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until its receipt of the copies of the amended or supplemented prospectus
contemplated by Section 2.3(f) and, if so directed by the Company, each Holder will deliver to the Company or destroy (at the Company’s expense) all copies, other than permanent file copies then in their possession, of the prospectus
covering such Registrable Securities current at the time of receipt of such notice. In the event the Company gives any such notice, the period for which the Company will be required to keep the registration statement effective will be extended by
the number of days during the period from and including the date of the giving of such notice pursuant to Section 2.3(f) to and including the date when each seller of Registrable Securities covered by such registration statement has received
the copies of the supplemented or amended prospectus contemplated by Section 2.3(f). 
 (c) Each Holder agrees that, upon
receipt of any notice from the Company of the happening of any event of the kind described in Section 2.3(l)(iv), it will forthwith discontinue disposition of Registrable Securities pursuant to the registration statement covering such
Registrable Securities until the lifting of such stop order, other order or suspension or the termination of such proceedings and, if so directed by the Company, each Holder will deliver to the Company or destroy (at the Company’s expense) all
copies, other than permanent file copies then in its possession, of the prospectus covering such Registrable Securities current at the time of receipt of such notice. In the event the Company gives any such notice, the period for which the Company
will be required to keep the registration statement

  

 -10- 








 
effective will be extended by the number of days during the period from and including the date of the giving of such notice pursuant to Section 2.3(l)(iv) to and including the date when such
stop order, other order or suspension is lifted or such proceedings are terminated. 
 (d) (i) Each Holder (x) hereby
agrees, with respect to the Registrable Securities owned by such Holder, to be bound by any and all restrictions on the sale, disposition, distribution, hedging or other transfer of any interest in Registrable Securities imposed on Ensemble Parent
and/or its Affiliates in connection with the IPO by the underwriters managing such offering for the duration of the term of such restriction (the period in which such sale, disposition, distribution, hedging or other transfer of any interest is
restricted, the “Lockup Period”) and (y) will, in connection with a Public Offering of the Company’s equity Securities (whether for the Company’s account or for the account of any Holder or Holders, or both), upon the
request of the Company or of the underwriters managing any underwritten offering of the Company’s Securities, agree in writing not to effect any sale, disposition or distribution of Registrable Securities (other than those included in the
Public Offering) without the prior written consent of the managing underwriter for such period of time commencing seven (7) days before and ending one hundred eighty (180) days (or such earlier date as the managing underwriter shall agree)
after the effective date of such registration; provided that all directors and officers of the Company, holders of more than 5% of the Registrable Securities and all other Persons with registration rights with respect to the Company’s
Securities (whether or not pursuant to this Agreement) holding more than 5% of the Registrable Securities shall enter into agreements similar to those contained in this Section 2.4(d)(i) (without regard to this proviso); and (ii) the
Company and its Subsidiaries will, in connection with an underwritten Public Offering of the Company’s Securities in respect of which Registrable Securities are included, upon the request of the underwriters managing such offering, agree in
writing not to effect any sale, disposition or distribution of equity Securities of the Company (other than those included in such Public Offering, offered on Form S-8, issuable upon conversion of Securities or upon the exercise of options, or the
grant of options in the ordinary course of business pursuant to then-existing management equity plans or equity-based employee benefit plans, in each case outstanding on the date a notice is given by the Company pursuant to Section 2.1(a) or a
request is made pursuant to Section 2.2(a), as the case may be), without the prior written consent of the managing underwriter, for such period of time commencing seven (7) days before and ending one hundred eighty (180) days (or such
earlier date as the managing underwriter shall agree) after the effective date of such registration. 
 (e) With a view to
making available the benefits of certain rules and regulations of the SEC which may at any time permit the sale of Securities of the Company to the public without registration after such time as a public market exists for Registrable Securities, the
Company agrees: 
 (1) to make and keep public information available, as those terms are understood and defined
in Rule 144 under the Securities Act, at all times after the effective date of the first registration under the Securities Act filed by the Company for an offering of its Securities to the public; 
 (2) to use its commercially reasonable efforts to then file with the SEC in a timely manner all reports and other documents
required of the Company under the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements); and 
 (3) so long as a Holder owns any Registrable Securities, to furnish to such Holder promptly upon request: (A) a written statement by the Company as to its compliance with the reporting requirements
of Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its Securities to the public), and of the Securities Act and the Exchange Act (at any time
after it has become subject to such reporting requirements); (B) a copy of the most recent annual or quarterly report of the

  

 -11- 








 
Company; and (C) such other reports and documents of the Company as such Holder may reasonably request in availing itself or himself of any rule or regulation of the SEC allowing such Holder
to sell any such Securities without registration. 
 (f) Counsel to represent holders of Registrable Securities shall be
selected by the holders of at least a majority of the Registrable Securities included in the relevant registration. 
 (g) Each
of the parties hereto agrees that the registration rights provided to the Holders herein are not intended to, and shall not be deemed to, override or limit any other restrictions on Transfer to which any such Holder may otherwise be subject.

 ARTICLE III 
 INDEMNIFICATION 
 SECTION 3.1 Indemnification by the Company.
In the event of any registration of any Securities of the Company under the Securities Act pursuant to Section 2.1 or 2.2, the Company hereby indemnifies and agrees to hold harmless, to the fullest extent permitted by Law, each Holder who sells
Registrable Securities covered by such registration statement, each Affiliate of such Holder and their respective directors and officers or general and limited partners (and the directors, officers, employees, Affiliates and controlling Persons of
any of the foregoing), each other Person who participates as an underwriter in the offering or sale of such Securities and each other Person, if any, who controls such Holder or any such underwriter within the meaning of the Securities Act
(collectively, the “Indemnified Parties“), against any and all losses, claims, damages or liabilities, joint or several, and reasonable and documented expenses to which such Indemnified Party may become subject under the Securities
Act, common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions or proceedings in respect thereof, whether or not such Indemnified Party is a party thereto) arise out of or are based upon: (a) any untrue
statement or alleged untrue statement of any material fact contained in any registration statement under which such Securities were registered under the Securities Act, any preliminary, final or summary prospectus contained therein, or any amendment
or supplement thereto, or any document incorporated by reference therein, or any other such disclosure document (including reports and other documents filed under the Exchange Act and any document incorporated by reference therein) or related
document or report; (b) 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, in the case of a prospectus, in the light of the circumstances
when they were made; or (c) any violation or alleged violation by the Company or any of its Subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its Subsidiaries and relating to action
or inaction in connection with any such registration, disclosure document or related document or report, and the Company will reimburse such Indemnified Party for any legal or other expenses reasonably incurred by it in connection with investigating
or defending any such loss, claim, liability, action or proceeding; provided that the Company will not be liable to any Indemnified Party in any such case to the extent that any such loss, claim, damage, liability (or action or proceeding in
respect thereof) or expense arises out of or is based upon any untrue statement or alleged untrue statement or omission or alleged omission made in such registration statement, in any such preliminary, final or summary prospectus, or any amendment
or supplement thereto in reliance upon and in conformity with written information with respect to such Indemnified Party furnished to the Company by such Indemnified Party expressly for use in the preparation thereof. Such indemnity will remain in
full force and effect regardless of any investigation made by or on behalf of such Holder or any Indemnified Party and will survive the Transfer of such Securities by such Holder or any termination of this Agreement. 
  

 -12- 








 SECTION 3.2 Indemnification by the Holders and Underwriters. The Company may
require, as a condition to including any Registrable Securities in any registration statement filed in accordance with Section 2.1 or 2.2, that the Company shall have received an undertaking reasonably satisfactory to it from the Holder of such
Registrable Securities or any prospective underwriter to indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 3.1) the Company, all other Holders or any prospective underwriter, as the case may be, and
any of their respective Affiliates, directors, officers and controlling Persons, with respect to any untrue statement in or omission from such registration statement, any preliminary, final or summary prospectus contained therein, or any amendment
or supplement, if such untrue statement or omission was made in reliance upon and in conformity with written information with respect to such Holder or underwriter furnished to the Company by such Holder or underwriter expressly for use in the
preparation of such registration statement, preliminary, final or summary prospectus or amendment or supplement, or a document incorporated by reference into any of the foregoing. Such indemnity will remain in full force and effect regardless of any
investigation made by or on behalf of the Company or any of the Holders, or any of their respective Affiliates, directors, officers or controlling Persons and will survive the Transfer of such Securities by such Holder. In no event shall the
liability of any selling Holder of Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds actually received by such Holder upon the sale of the Registrable Securities giving rise to such indemnification
obligation. 
 SECTION 3.3 Notices of Claims, Etc. Promptly after receipt by an Indemnified Party hereunder of
written notice of the commencement of any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Article III, such Indemnified Party will, if a claim in respect thereof is to be made against an
indemnifying party, give written notice to the latter of the commencement of such action; provided that the failure of the Indemnified Party to give notice as provided herein will not relieve the indemnifying party of its obligations under
Section 3.1 or 3.2, except to the extent that the indemnifying party is actually prejudiced by such failure to give notice. In case any such action is brought against an Indemnified Party, unless in such Indemnified Party’s reasonable
judgment a conflict of interest between such indemnified and indemnifying parties may exist in respect of such claim, the indemnifying party will be entitled to participate in and to assume the defense thereof, jointly with any other indemnifying
party similarly notified to the extent that it may wish, with counsel selected by the Holders of at least a majority of the Registrable Securities included in the relevant registration, and after notice from the indemnifying party to such
Indemnified Party of its election so to assume the defense thereof, the indemnifying party will not be liable to such Indemnified Party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof other
than reasonable costs of investigation. If, in such Indemnified Party’s reasonable judgment, having common counsel would result in a conflict of interest between the interests of such indemnified and indemnifying parties, then such Indemnified
Party may employ separate counsel reasonably acceptable to the indemnifying party to represent or defend such Indemnified Party in such action, it being understood, however, that the indemnifying party will not be liable for the reasonable fees and
expenses of more than one separate firm of attorneys at any time for all such Indemnified Parties (and not more than one separate firm of local counsel at any time for all such Indemnified Parties) in such action. No indemnifying party will consent
to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect of such claim or litigation.

 SECTION 3.4 Contribution. If the indemnification provided for hereunder from the indemnifying party is
unavailable to an Indemnified Party hereunder in respect of any losses, claims, damages, liabilities or expenses referred to herein for reasons other than those described in the proviso in the first sentence of Section 3.1, then the
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, claims, damages, liabilities or expenses in such proportion as is appropriate to
reflect the relative fault of

  

 -13- 








 
the indemnifying party and Indemnified Parties in connection with the actions which resulted in such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable
considerations. The relative fault of such indemnifying party and Indemnified Parties 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 by, or relates to information supplied by, such indemnifying party or Indemnified Parties, and the parties’ relative intent, knowledge, access to information and opportunity
to correct or prevent such action. The amount paid or payable by a party under this Section 3.4 as a result of the losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any legal or other fees or
expenses reasonably incurred by such party in connection with any investigation or proceeding. In no event shall the liability of any selling Holder of Registrable Securities hereunder be greater in amount than the dollar amount of the proceeds
actually received by such Holder upon the sale of the Registrable Securities giving rise to such contribution obligation. 
 The
parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 3.4 were determined by pro rata allocation or by any other method of allocation which does not take account of the equitable
considerations referred to in the immediately preceding paragraph. 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. 
 SECTION 3.5 Other Indemnification. Indemnification similar to that
specified in this Article III (with appropriate modifications) shall be given by the Company and each seller of Registrable Securities with respect to any required registration or other qualification of Securities under any Law or with any
Governmental Authority other than as required by the Securities Act. 
 SECTION 3.6 Non-Exclusivity. The obligations
of the parties under this Article III will be in addition to any liability which any party may otherwise have to any other party. 
 ARTICLE IV 
 OTHER 
 SECTION 4.1 Notices. Any notice, request, instruction or other document to be given hereunder by any party hereto to another party hereto shall be in writing, shall be and shall be deemed
given when (a) delivered personally, (b) five (5) Business Days after being sent by certified or registered mail, postage prepaid, return receipt requested, (c) one (1) Business Day after being sent by Federal Express or
other nationally recognized overnight courier, or (d) if transmitted by facsimile, if confirmed within 24 hours thereafter by a signed original sent in the manner provided in clause (a), (b) or (c) to the parties at the
following addresses (or at such other address for a party as shall be specified by notice from such party): 
 if to the Company:

 Team Health Holdings, Inc. 
 1900 Winston Road 
 Suite 300 
 Knoxville, Tennessee 37919 
 Attention: Heidi S. Allen, Esq. 
 Fax: (865) 539-8030 
  

 -14- 








 if to Ensemble Parent: 
 c/o The Blackstone Group L.P. 
 345 Park Avenue, 31st Floor 
 New York, New York 10154 
 Attention: Neil Simpkins 
 Fax: (212) 583-5257 
 with a copy to: 
 Simpson Thacher & Bartlett LLP 
 425 Lexington Avenue 
 New York, New York 10017 
 Attention: William R. Dougherty, Esq. 
 Fax: (212) 455-2502 
 if to any Management Stockholder: 
 c/o Team Health Holdings, Inc. 
 1900 Winston Road 
 Suite 300 
 Knoxville, Tennessee 37919 
 Attention: Lynn Massingale, M.D. 
 Fax: (865) 539-8030 
 SECTION 4.2 Assignment. Neither the Company nor any Holder shall assign all or any part of this Agreement without the prior written consent of the Company and Ensemble Parent; provided, however, that Ensemble
Parent may assign in whole or in part to any of its Affiliates. Except as otherwise provided herein, this Agreement will inure to the benefit of and be binding on the parties hereto and their respective successors and permitted assigns. 

SECTION 4.3 Amendments; Waiver. This Agreement may be amended, supplemented or otherwise modified only by a written
instrument executed by the Company and the Holders holding a majority of the shares of Common Stock subject to this Agreement; provided that no such amendment, supplement or other modification shall adversely affect the economic interests of
any Holder hereunder disproportionately to other Holders without the written consent of such Holder. For the avoidance of doubt, no consent pursuant to this Section 4.3 shall be required in connection with any amendment or revision to
Schedule A unless such amendment or revision is to remove a Holder from such schedule at a time when such Holder would otherwise be entitled to registration rights provided herein. No waiver by any party of any of the provisions hereof will
be effective unless explicitly set forth in writing and executed by the party so waiving. Except as provided in the preceding sentence, no action taken pursuant to this Agreement, including without limitation, any investigation by or on behalf of
any party, will be deemed to constitute a waiver by the party taking such action of compliance with any covenants or agreements contained herein. The waiver by any party hereto of a breach of any provision of this Agreement will not operate or be
construed as a waiver of any subsequent breach. 
 SECTION 4.4 Third Parties. This Agreement does not create any
rights, claims or benefits inuring to any person that is not a party hereto nor create or establish any third party beneficiary hereto. 
 SECTION 4.5 Governing Law. This Agreement shall be governed by, and construed and enforced in accordance with, the laws of the State of Delaware. 
  

 -15- 








 SECTION 4.6 Jurisdiction. The Delaware Court of Chancery and any state appellate
court therefrom within the State of Delaware (or, if the Delaware Court of Chancery declines to accept jurisdiction over a particular matter, any state or federal court within the State of Delaware) shall have exclusive jurisdiction over the parties
with respect to any dispute or controversy between them arising under or in connection with this agreement and, by execution and delivery of this agreement, each of the parties to this Agreement submits to the exclusive jurisdiction of those courts,
including but not limited to the in personam and subject matter jurisdiction of those courts, waives any objections to such jurisdiction on the grounds of venue or forum non conveniens, the absence of in personam or subject
matter jurisdiction and any similar grounds, consents to service of process by mail (in accordance with the notice provisions of this Agreement) or any other manner permitted by Law, and irrevocably agrees to be bound by any judgment rendered
thereby in connection with this Agreement. 
 SECTION 4.7 MUTUAL WAIVER OF JURY TRIAL. THE PARTIES HERETO WAIVE ALL
RIGHT TO TRIAL BY JURY IN ANY ACTION, SUIT OR PROCEEDING BROUGHT TO ENFORCE OR DEFEND ANY RIGHTS OR REMEDIES UNDER THIS AGREEMENT. 
 SECTION 4.8 Specific Performance. Each of the parties hereto acknowledges and agrees that in the event of any breach of this Agreement by any of them, the non-breaching party would be irreparably harmed and could not be made
whole by monetary damages. Each party accordingly agrees to waive the defense in any action for specific performance that a remedy at law would be adequate and that the parties, in addition to any other remedy to which they may be entitled at law or
in equity, shall be entitled to compel specific performance of this Agreement. 
 SECTION 4.9 Entire Agreement. This
Agreement sets forth the entire understanding of the parties hereto with respect to the subject matter hereof. There are no agreements, representations, warranties, covenants or undertakings with respect to the subject matter hereof other than those
expressly set forth herein. This Agreement supersedes all other prior agreements and understandings between the parties with respect to such subject matter. 
 SECTION 4.10 Severability. If one or more of the provisions, paragraphs, words, clauses, phrases or sentences contained herein, or the application thereof in any circumstances, is held
invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision, paragraph, word, clause, phrase or sentence in every other respect and of the remaining provisions, paragraphs, words,
clauses, phrases or sentences hereof shall not be in any way impaired, it being intended that all rights, powers and privileges of the parties hereto shall be enforceable to the fullest extent permitted by Law. 
 SECTION 4.11 Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed to be an
original and all of which together will be deemed to be one and the same instrument. 
 SECTION 4.12 Effectiveness.
This Agreement shall become effective, as to any Holder, as of the date signed by the Company and countersigned by such Holder. 
  

 -16- 








 IN WITNESS WHEREOF, the undersigned have executed this Agreement as of the date first
written above. 
  

			
	TEAM HEALTH HOLDINGS, INC.
		
	By:  	 	/S/    HEIDI S.
ALLEN        
		 	Name:    Heidi S. Allen
		 	Title:    Senior Vice President and General Counsel
	
	ENSEMBLE PARENT LLC
		
	By:  	 	/S/ NEIL SIMPKINS
		 	Name:    Neil Simpkins
		 	Title:    Manager
	
	[Management Stockholders]
		
	By:  	 	 
		 	Name:
		 	Title:











 Schedule A 
 Management Stockholder 
  

	1.	Ensemble Parent LLC 


	2.	John R. Staley Jr. Revocable Trust 


	3.	Thom Goltry 


	4.	Bob Dukes, MD 


	5.	THG Investments LLC 


	6.	John Hellman 


	7.	Steve Murtaugh 


	8.	Robert Strauss, MD 


	9.	Frank Levin 


	10.	James Bonner 


	11.	James Rybak, MD 


	12.	Laura Dollison 


	13.	Ed Hamm 


	14.	Tom Graber, MD 


	15.	James Sudimack, MD 


	16.	Oliver Rogers 


	17.	Steve Holtzclaw 


	18.	Greg Gaar 


	19.	Steve McAlpine 


	20.	Matt Rice, MD 


	21.	Bill Powell 


	22.	Monty Scott 


	23.	Randal Dabbs, MD 


	24.	Roger Brooksbank, MD 


	25.	John Proctor, MD 


	26.	Mike Mills 


	27.	Tonya Bales 


	28.	Audrey Grant, MD 


	29.	Barbara Reynolds, MD 


	30.	Rick Carvolth, MD 


	31.	Jennifer Behm 


	32.	Eliot Cohen 


	33.	Chris Price 


	34.	Kenneth Harman 


	35.	Joe Carman 


	36.	Tony Vetrano 


	37.	Aron Goldfeld 


	38.	Tracy Vaughn 


	39.	Fazie Harney 


	40.	George Tracy 


	41.	Toni Kuehnle 


	42.	Sharon Krejci 


	43.	JoAnn Zintel 


	44.	Richard Takao 


	45.	Susie Brown 



	46.	Jonathan Grimes 


	47.	Alan Taylor 


	48.	Greg Roth 


	49.	Gar LaSalle 


	50.	David Jones 


	51.	Kent Bristow 


	52.	Harry Herrmann 


	53.	Arthur Carpentier 


	54.	Steve Sherlin 


	55.	Lisa Courtney 


	56.	Carole Belmar 


	57.	Mike Norwood 


	58.	David Carroll 


	59.	Kevin Homan 


	60.	Richard McDaniel 


	61.	Linda Wolverton 


	62.	Dennis Beskie 


	63.	Michael Harney 


	64.	James Wilburn 


	65.	H. Lynn Massingale GRAT Trust 


	66.	H. Lynn Massingale GRAT II Trust 


	67.	Family GRAT of H. Lynn Massingale 


	68.	Cheryl S. Massingale GRAT Trust 


	69.	Cheryl S. Massingale GRAT II Trust 


	70.	Family GRAT of Cheryl S. Massingale 


	71.	Massingale Investments LLC 


	72.	Avery Simmons Kilburn Trust 


	73.	Charles William Kilburn Trust 


	74.	Christina M. Kilburn 


	75.	Christopher Alexander Wilson Trust 


	76.	Christopher R. Snyder Trust 


	77.	Franklin Eugene Massingale 


	78.	Hayes Stockman Snyder Trust 


	79.	John Baylor Wilson Trust 


	80.	Margaret Grayson Snyder Trust 


	81.	Preston Jennings Wilson Trust 


	82.	Sandra S. Wislon 


	83.	Sidney Elizabeth Wilsn Trust 


	84.	Sue Stockman Arnhart 


	85.	Earl Holland 


	86.	Glenn Davenport 


	87.	Neil Principe Second Amended and Restated Revocable Trust 


	88.	Robert Abramowski