EX-4.2



 Exhibit 4.2 

REGISTRATION RIGHTS AGREEMENT 
 by
and among 
 COVIA HOLDINGS CORPORATION, 

and 
 SCR-SIBELCO NV 
 Dated as of June 1, 2018 

 







 REGISTRATION RIGHTS AGREEMENT, dated as of June 1, 2018 (this “Agreement”),
by and among (i) Covia Holdings Corporation, a Delaware corporation (the “Company”), and (ii) SCR-Sibelco NV (together with its respective permitted transferees, collectively, the
“Shareholders”). 
 RECITALS 

WHEREAS, the Company, SCR-Sibelco NV, Bison Merger Sub, Inc., a Delaware corporation and wholly-owned
subsidiary of the Company (“Merger Sub”), Bison Merger Sub I, LLC, a Delaware limited liability company and wholly-owned subsidiary of the Company (“Merger Sub LLC”), and Fairmount Santrol Holdings Inc., a Delaware
corporation (“Fairmount”), are party to an Agreement and Plan of Merger, dated as of December 11, 2017 (as such agreement may be amended, supplemented or otherwise modified from time to time in accordance with its terms, the
“Merger Agreement”), pursuant to which: (i) Merger Sub will merge with and into Fairmount (the “Merger”), with Fairmount surviving the Merger as a wholly-owned subsidiary of the Company; and,
(ii) immediately following the consummation of the Merger, Fairmount will merge with and into Merger Sub LLC (the “Second Merger” and, together with the Merger, the “Mergers”), with Merger Sub LLC surviving the
Second Merger as a wholly-owned subsidiary of the Company. 
 WHEREAS, concurrently with the consummation of the transactions contemplated
by the Merger Agreement, the Company and the Shareholders desire to provide for certain registration rights in respect of certain Shares that are held or will be held by the Shareholders. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement, intending to be legally bound, hereby agree as follows, effective as of the date hereof: 

Section 1. Certain Definitions. As used herein, the following terms shall have the following meanings: 

“Additional Piggyback Rights” has the meaning ascribed to such term in Section 2.2(b). 

“Additional Piggyback Shares” has the meaning ascribed to such term in Section 2.3(a)(iii). 

“Affiliate” as applied to any Person, means any other Person directly or indirectly controlling, controlled by, or under
common control with, that Person. For the purposes of this definition, “control” (including, with correlative meanings, the terms “controlling”, “controlled by” and “under common control with”), as applied to
any Person, means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of that Person, whether through the ownership of voting securities (the ownership of more than 50% of the voting
securities of an entity shall for purposes of this definition be deemed to be “control”), by contract or otherwise. For the avoidance of doubt, neither the Company nor any Person controlled by the Company shall be deemed to be an Affiliate
of any Holder. 
 “Agreement” has the meaning ascribed to such term in the Preamble. 

 







 “Assumption Agreement” means an agreement in the form set forth in Exhibit
A hereto whereby a permitted transferee of Registrable Securities who acquires such Registrable Securities becomes a party to, and agrees to be bound, to the same extent as its transferor, by the terms of this Agreement. 

“automatic shelf registration statement” has the meaning ascribed to such term in Section 2.4. 

“Board” means the board of directors of the Company or an authorized committee thereof. 

“Business Day” means a day, other than Saturday, Sunday, federal or New York State holiday or other day on which commercial
banks in the City of New York are authorized or required by law or other governmental action to close. 
 “Claims” has the
meaning ascribed to such term in Section 2.9(a).  
 “Company” has the meaning ascribed to such term in the
Preamble and, for purposes of this Agreement, such term shall include any Subsidiary or parent company of Covia Holdings Corporation and any successor to Covia Holdings Corporation or any Subsidiary or parent company of Covia Holdings Corporation
who becomes the issuer of Shares. 
 “Company Block Trade Notice” has the meaning ascribed to such term in
Section 2.1(e). 
 “Company Shelf Underwriting” has the meaning ascribed to such term in Section 2.2(a). 

“Company Shelf Notice” has the meaning ascribed to such term in Section 2.2(a). 

“Company Underwritten Block Trade” has the meaning ascribed to such term in Section 2.2(a). 

“Confidential Information” has the meaning ascribed to such term in Section 4.13. 

“Demand Exercise Notice” has the meaning ascribed to such term in Section 2.1(a)(i). 

“Demand Party” has the meaning ascribed to such term in Section 2.1(a)(i). 

“Demand Registration” has the meaning ascribed to such term in Section 2.1(a)(i). 

“Demand Registration Request” has the meaning ascribed to such term in Section 2.1(a)(i). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC issued under
such Act, as they may from time to time be in effect. 

  
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 “Expenses” means any and all fees and expenses incident to the Company’s
performance of or compliance with Section 2 of this Agreement, including, without limitation: (i) SEC, stock exchange or FINRA registration and filing fees and all listing fees and fees with respect to the inclusion of the Shares on the
New York Stock Exchange, the Nasdaq Stock Market or on any other U.S. or non-U.S. securities market on which the Shares are or may be listed or quoted, (ii) fees and expenses of compliance with state
securities or “blue sky” laws of any state or jurisdiction of the United States or compliance with the securities laws of foreign jurisdictions and in connection with the preparation of a “blue sky” survey, including, without
limitation, reasonable fees and expenses of outside “blue sky” counsel and securities counsel in foreign jurisdictions (but no more than one such counsel in any one jurisdiction), (iii) word processing, printing and copying expenses
(including, without limitation, expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing any prospectus or free writing prospectus), (iv) messenger and delivery
expenses, (v) expenses incurred in connection with any road show, (vi) fees and disbursements of counsel for the Company, (vii) with respect to each registration or underwritten offering, the reasonable and documented fees and
disbursements of one counsel for the Shareholders (such counsel, the “Selling Shareholder Counsel”), together in each case with any local counsel (but no more than one such counsel in any one jurisdiction), (viii) fees and
disbursements of all independent public accountants (including the expenses of any audit/review and/or “cold comfort” letter and updates thereof) and fees and expenses of other Persons, including geology/mining valuation firms or other
special experts, retained by the Company, (ix) fees and expenses payable to a Qualified Independent Underwriter, (x) fees and expenses of any transfer agent or custodian and (xi) any other fees and disbursements of underwriters, if
any, customarily paid by issuers of securities (other than underwriting discounts and commissions), and reasonable and documented fees and expenses of counsel for the underwriters in connection with any filing with or review by FINRA. 

“Fairmount” has the meaning ascribed to such term in the Recitals. 

“FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Holder” or “Holders” means (1) any Shareholder who is a party to this Agreement or (2) any
transferee of Registrable Securities to whom any Shareholder who is a party to this Agreement shall assign or transfer any rights hereunder in accordance with this Agreement, provided that such transferee has agreed in writing to be bound by the
terms of this Agreement in respect of such Registrable Securities pursuant to an Assumption Agreement. 
 “Initiating
Holders” has the meaning ascribed to such term in Section 2.1(a)(i). 
 “Majority Participating Holders”
means Participating Holders holding more than 50% of the Registrable Securities proposed to be included in any offering of Registrable Securities by such Participating Holders pursuant to Section 2.1 or Section 2.2. 

“Manager” has the meaning ascribed to such term in Section 2.1(c). 

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

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

“Merger Sub” has the meaning ascribed to such term in the Recitals. 

“Merger Sub LLC” has the meaning ascribed to such term in the Recitals. 

“Mergers” has the meaning ascribed to such term in the Recitals. 

“Minimum Threshold” means $50 million. 

“Opt-Out Request” has the meaning ascribed to such term in Section 4.15. 

“Participating Holders” means all Holders of Registrable Securities that are proposed to be included in any offering of
Registrable Securities pursuant to Section 2.1 or Section 2.2. 
 “Partner Distribution” has the meaning ascribed
to such term in Section 2.1(a)(iii). 
 “Person” means any individual, corporation, company, limited liability
company, partnership, trust, joint stock company, business trust, unincorporated association, joint venture, governmental authority or other legal entity of any kind or nature whatsoever. 

“Piggyback Notice” has the meaning ascribed to such term in Section 2.2(a). 

“Postponement Period” has the meaning ascribed to such term in Section 2.1(b). 

“Qualified Independent Underwriter” means a “qualified independent underwriter” within the meaning of FINRA Rule
5121 (or any successor provision thereto). 
 “Registrable Securities” means (a) any Shares held by the Holders at any
time (including those held as a result of, or issuable upon, the conversion or exercise of Share Equivalents), whether now owned or acquired by the Holders at a later time, (b) any Shares issued or issuable, directly or indirectly, in exchange
for or with respect to the Shares referenced in clause (a) above by way of stock dividend, stock split or combination of shares or in connection with a reclassification, recapitalization, merger, share exchange, consolidation or other
reorganization and (c) any securities issued in replacement of or exchange for any securities described in clause (a) or (b) above. As to any particular Registrable Securities, such securities shall cease to be Registrable Securities when
(A) a registration statement covering the sale of such Registrable Securities has been declared or is automatically effective, as applicable, under the Securities Act and such Registrable Securities have been sold or otherwise disposed of in
accordance with such effective registration statement, or (B) such securities shall have been sold under Rule 144 (or any successor provision thereto). 

“Rule 144” and “Rule 144A” each have the meaning ascribed to such term in Section 4.2. 

“SEC” means the U.S. Securities and Exchange Commission or such other federal agency that at such time administers the
Securities Act. 

  
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 “Second Merger” has the meaning ascribed to such term in the Recitals. 

“Section 2.3(a) Block Trade Sale Number” has the meaning ascribed to such term in Section 2.3(a). 

“Section 2.3(a) Sale Number” has the meaning ascribed to such term in Section 2.3(a). 

“Section 2.3(a)(x) Sale Number” has the meaning ascribed to such term in Section 2.3(a). 

“Section 2.3(b) Block Trade Sale Number” has the meaning ascribed to such term in Section 2.3(b). 

“Section 2.3(b) Sale Number” has the meaning ascribed to such term in Section 2.3(b). 

“Section 2.3(b)(x) Sale Number” has the meaning ascribed to such term in Section 2.3(b). 

“Section 2.3(c) Sale Number” has the meaning ascribed to such term in Section 2.3(c). 

“Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations of the SEC issued under such
Act, as they may from time to time be in effect. 
 “Shareholders” has the meaning ascribed to such term in the Preamble.

 “Shares” means the shares of common stock, par value $0.01 per share, of the Company, and any and all securities of any
kind whatsoever that may be issued after the date hereof in respect of, or in exchange for, such shares of common stock pursuant to a merger, consolidation, stock split, stock dividend or recapitalization of the Company or otherwise. 

“Share Equivalents” means, with respect to the Company, all options, warrants and other securities convertible into, or
exchangeable or exercisable for (at any time or upon the occurrence of any event or contingency and without regard to any vesting or other conditions to which such securities may be subject), or depositary receipts or depositary shares representing
or evidencing, Shares (including, without limitation, any note or debt security convertible into or exchangeable for Shares). 

“Shelf Registrable Securities” has the meaning ascribed to such term in Section 2.1(e). 

“Shelf Registration Statement” has the meaning ascribed to such term in Section 2.1(e). 

“Shelf Underwriting” has the meaning ascribed to such term in Section 2.1(e). 

“Shelf Underwriting Notice” has the meaning ascribed to such term in Section 2.1(e). 

“Shelf Underwriting Request” has the meaning ascribed to such term in Section 2.1(e). 

“Subsidiary” means any direct or indirect subsidiary of the Company on the date hereof and any direct or indirect subsidiary
of the Company organized or acquired after the date hereof. 

  
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 “Underwritten Block Trade” has the meaning ascribed to such term in
Section 2.1(e). 
 “Valid Business Reason” means any of the following: (a) the Board determines, in good faith,
that (i) the registration or offering of Registrable Securities at that time would require the disclosure of material, non-public information and (ii) the disclosure of such information would be
materially detrimental to the Company because such action would (A) materially interfere with the Company’s ability to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction
involving the Company, (B) require premature disclosure of material, non-public information that the Company has a bona fide business purpose for preserving as confidential or (C) render the Company
unable to comply with requirements under the Securities Act or Exchange Act; (b) the Company does not yet have appropriate financial statements of any acquired or to be acquired entities available for filing; and (c) if any of the
Shareholders are “affiliates” of the Company (within the meaning of Rule 144), any regular quarterly “black-out” period during which all directors and executive officers of the Company are
not permitted to trade under the insider trading policy of the Company then in effect. 
 “WKSI” has the meaning ascribed
to such term in Section 2.1(a)(i). 
 Section 2. Registration Rights. 

2.1. Demand Registrations. 

(a) (i) Subject to Sections 2.1(b) and 2.3, at any time and from time to time beginning 180 days following the date hereof, any of the
Shareholders (each, a “Demand Party” and, together, the “Demand Parties”) shall have the right to require the Company to file one or more registration statements under the Securities Act covering all or any part of
its Registrable Securities by delivering a written request therefor to the Company specifying the number of Registrable Securities to be included in such registration and the intended method of distribution thereof. Any such request by any Demand
Party pursuant to this Section 2.1(a)(i) is referred to herein as a “Demand Registration Request” and the registration so requested is referred to herein as a “Demand Registration” (with respect to any Demand
Registration, the Holder(s) making such demand for registration being referred to as the “Initiating Holders”). Any Demand Registration Request may request that the Company register Registrable Securities on an appropriate form,
including a shelf registration statement on Form S-3 pursuant to Rule 415 under the Securities Act and, if the Company is a well-known seasoned issuer (as defined in Rule 405 under the Securities Act, a
“WKSI”), an automatic shelf registration statement on Form S-3. The Company shall give written notice (the “Demand Exercise Notice”) of such Demand Registration Request to
each of the Holders of Registrable Securities at least five (5) Business Days prior to the filing of any registration statement under the Securities Act. 

(ii) The Company, subject to Sections 2.3 and 2.6, shall include in a Demand Registration (x) the Registrable Securities of the Initiating
Holders and (y) the Registrable Securities of any other Holder of Registrable Securities that shall have made a written request to the Company for inclusion in such registration pursuant to Section 2.2 (which request shall specify the
maximum number of Registrable Securities intended to be disposed of by such Participating Holder) within five (5) days following the receipt of any such Demand Exercise Notice. 

  
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 (iii) The Company shall, as expeditiously as reasonably possible, but subject to
Section 2.1(b), use its commercially reasonable efforts to (x) file with the SEC (no later than sixty (60) days from the Company’s receipt of the applicable Demand Registration Request) and cause to be declared or automatically
effective, as applicable, such registration under the Securities Act as soon as reasonably practicable thereafter (including, without limitation, by means of a shelf registration pursuant to Rule 415 under the Securities Act if so requested and if
the Company is then eligible to use such a registration) with respect to the Registrable Securities that the Company has been so requested to register, for distribution in accordance with the intended method of distribution, including a distribution
to, and resale by, the members or partners of a Holder (a “Partner Distribution”) and (y) if requested by the Initiating Holders and to the extent applicable, obtain acceleration of the effective date of the registration
statement relating to such registration. 
 (iv) Notwithstanding anything contained herein to the contrary, the Company shall, at the request
of any Holder seeking to effect a Partner Distribution, file any prospectus supplement or post-effective amendments, or include in the initial registration statement any disclosure or language, or include in any prospectus supplement or
post-effective amendment any disclosure or language, and otherwise take any action, deemed necessary or advisable by such Holder to effect such Partner Distribution. 

(b) Notwithstanding anything to the contrary in Section 2.1(a), the Demand Registration rights granted in Section 2.1(a) are subject
to the following limitations: (i) the Company shall not be required to (a) cause a registration pursuant to Section 2.1(a) to be declared or automatically effective, as applicable, or (b) facilitate an offering of Shares, in
either case within a period of ninety (90) days after the effective date of any other registration of the Company filed pursuant to the Securities Act (other than a Form S-4 or Form S-8 or any successor or other forms promulgated for similar purposes or forms filed in connection with an exchange offer or any employee benefit or stock purchase and/or dividend reinvestment plan) or pricing date
of any offering made pursuant to such registration statement; (ii) the Company shall not be required to effect more than (x) five (5) Demand Registrations on Form S-1 or any similar long-form
registration at the request of the Shareholders (it being understood that if a single Demand Registration Request is delivered by more than one Shareholder, the registration requested by such Demand Registration Request shall constitute only one
Demand Registration); provided, however, that the Shareholders shall each be entitled to request an unlimited number of Demand Registrations on Form S-3 or any similar short-form registration
(including pursuant to Rule 415 under the Securities Act) or take-downs or other offerings off an existing Form S-3; (iii) each registration or offering in respect of a Demand Registration Request made by any
Holder must include, in the aggregate, Shares having an aggregate market value of at least the lesser of (a) the Minimum Threshold (based on the Shares included in such registration by all Holders participating in such registration) and
(b) the Initiating Holder’s remaining Shares; (iv) a Holder may not request that the Company file a shelf registration statement until the Company is 

  
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eligible to file a registration statement on Form S-3; and (v) if a Valid Business Reason exists, then (x) the Company may postpone filing a
registration statement or facilitating an offering relating to a Demand Registration Request until five (5) Business Days after such Valid Business Reason no longer exists, but in no event for more than forty-five (45) days (seventy-five
(75) days in the case of a Valid Business Reason relating to the Company not having appropriate financial statements of any acquired or to be acquired entities available for filing) after the date the Valid Business Reason is initially
determined to exist and (y) in case a registration statement has been filed relating to a Demand Registration Request, the Company may, to the extent a Valid Business Reason exists, suspend use of or, if required by the SEC, cause such
registration statement to be withdrawn and its effectiveness terminated or may postpone amending or supplementing such registration statement until five (5) Business Days after such Valid Business Reason no longer exists, but in no event for
more than thirty (30) days after the date the Valid Business Reason is initially determined to exist (such period of postponement or withdrawal under this clause (v), the “Postponement Period”). The Company shall give written
notice to the Initiating Holders and any other Holders that have requested registration pursuant to Section 2.1 or Section 2.2 of its determination to postpone or suspend use of or withdraw a registration statement and of the fact that the
Valid Business Reason for such postponement or suspension or withdrawal no longer exists, in each case, promptly after the occurrence thereof; provided, however, the Company shall not be permitted to postpone or suspend use of or
withdraw a registration statement after the expiration of any Postponement Period until twelve (12) months after the expiration of such Postponement Period. 

If the Company shall give any notice of postponement or suspension or withdrawal of any registration statement pursuant to clause
(v) above, the Company shall not, during the Postponement Period, register any Shares, other than pursuant to a registration statement on Form S-4 or S-8 (or an
equivalent registration form then in effect). Each Holder of Registrable Securities agrees that, upon receipt of any notice from the Company that the Company has determined to suspend use of, withdraw, terminate or postpone amending or supplementing
any registration statement pursuant to clause (v) above, such Holder will discontinue its disposition of Registrable Securities pursuant to such registration statement. If the Company shall have suspended use of, withdrawn or terminated a
registration statement filed under Section 2.1(a)(i) (whether pursuant to clause (v) above or as a result of any stop order, injunction or other order or requirement of the SEC or any other governmental agency or court), the Company shall
not be considered to have effected a Demand Registration for the purposes of this Agreement until the Company shall have permitted use of such suspended registration statement or filed a new registration statement covering the Registrable Securities
covered by the withdrawn or terminated registration statement and such registration statement shall have been declared effective and shall not have been withdrawn. If the Company shall give any notice of suspension, withdrawal or postponement of a
registration statement, the Company shall, not later than five (5) Business Days after the Valid Business Reason that caused such suspension, withdrawal or postponement no longer exists (but in no event later than thirty (30) days after
the date of the suspension, postponement or withdrawal), as applicable, permit use of such suspended registration statement or use its commercially reasonable efforts to effect the registration under the Securities Act of the Registrable Securities
covered by the withdrawn or postponed registration statement in accordance with this Section 2.1 (unless the Initiating 

  
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Holders shall have withdrawn such request, in which case the Company shall not be considered to have effected a Demand Registration for the purposes of this Agreement and such request shall not
count as a Demand Registration Request under this Agreement), and following such permission or such effectiveness such registration shall no longer be deemed to be suspended, withdrawn or postponed pursuant to clause (v) of Section 2.1(b)
above. 
 (c) In connection with any Demand Registration (including any Shelf Underwriting or Underwritten Block Trade (as defined below)),
the Holders of a majority of the Registrable Securities included in such Demand Registration shall have the right to designate the lead managing underwriter (any lead managing underwriter for the purposes of this Agreement, the
“Manager”) in connection with any underwritten offering pursuant to such registration and each other managing underwriter for any such underwritten offering and counsel for the Participating Shareholders; provided that in
each case, each such underwriter is reasonably satisfactory to the Company, which approval shall not be unreasonably withheld or delayed. 

(d) No Demand Registration shall be deemed to have occurred for purposes of Section 2.1(a) (i) if the registration statement relating
thereto (x) does not become effective, (y) is not maintained effective for a period of at least one hundred eighty (180) days after the effective date thereof or such shorter period during which all Registrable Securities included in
such registration statement have actually been sold (provided, however, that such period shall be extended for a period of time equal to the period the Holder of Registrable Securities refrains from selling any securities included in
such registration statement at the request of the Company or an underwriter of the Company), or (z) is subject to a stop order, injunction, or similar order or requirement of the SEC during such period, (ii) if any of the Registrable
Securities requested by such Initiating Holder to be included in such Demand Registration are not so included pursuant to Section 2.3 (even where some or most of such Holder’s Registrable Securities are included in such Demand
Registration), (iii) if the method of disposition is a firm commitment underwritten public offering and any of the applicable Registrable Securities identified in the preliminary prospectus or preliminary prospectus supplement, as applicable, for
such offering as being sold by the Participating Holders have not been sold pursuant thereto (other than as a result of a default or breach thereunder by such Initiating Holder(s)) or (iv) if the conditions to closing specified in any
underwriting agreement, purchase agreement or similar agreement entered into in connection with the registration relating to such request are not satisfied (other than as a result of a default or breach thereunder by such Initiating Holder(s)) or
are otherwise not waived by such Initiating Holder(s). 
 (e) In the event that the Company files a shelf registration statement under Rule
415 of the Securities Act pursuant to a Demand Registration Request and such registration becomes effective (such registration statement, a “Shelf Registration Statement”), the Initiating Holders with respect to such Demand
Registration Request and the other Demand Parties with Registrable Securities registered on such Shelf Registration Statement (or, in the case of an automatic shelf registration statement, the Demand Parties) shall have the right at any time or from
time to time to elect to sell pursuant to an underwritten offering Registrable Securities available for sale pursuant to such registration statement. Any such Initiating Holder or Demand Party shall make such election by delivering to the Company a
written request (a “Shelf 

  
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Underwriting Request”) for such underwritten offering specifying the number of Registrable Securities that such Initiating Holder or Demand Party, as applicable, desires to sell
pursuant to such underwritten offering (the “Shelf Underwriting”). As promptly as practicable, but no later than two (2) Business Days after receipt of a Shelf Underwriting Request, the Company shall give written notice (the
“Shelf Underwriting Notice”) of such Shelf Underwriting Request to the Holders of other Registrable Securities registered on such Shelf Registration Statement (“Shelf Registrable Securities”). The Company, subject
to Sections 2.3 and 2.6, shall include in such Shelf Underwriting (x) the Registrable Securities of the Initiating Holders and (y) the Shelf Registrable Securities of any other Holder of Shelf Registrable Securities that shall have made a
written request to the Company for inclusion in such Shelf Underwriting (which request shall specify the maximum number of Shelf Registrable Securities intended to be disposed of by such Holder) within five (5) days after the receipt of the
Shelf Underwriting Notice. The Company shall, as expeditiously as possible (and in any event within twenty (20) days after the receipt of a Shelf Underwriting Request), but subject to Section 2.1(b), use its commercially reasonable efforts
to facilitate such Shelf Underwriting. Notwithstanding the foregoing, but subject to Section 2.1(b), if a Demand Party wishes to engage in an underwritten block trade or similar transaction or other transaction with a 2-day or less marketing period (collectively, “Underwritten Block Trade”) pursuant to a Shelf Registration Statement (either through filing an automatic shelf registration statement or through a
take-down from an already effective Shelf Registration Statement), then notwithstanding the foregoing time periods, such Demand Party only needs to notify the Company of the Underwritten Block Trade two (2) Business Days prior to the day such
Underwritten Block Trade is to commence, and the Company shall notify the other Holders (the “Company Block Trade Notice”) on the same day, and such other Holders must elect whether or not to participate by the next Business Day
(i.e., one (1) Business Day prior to the date such offering is to commence). The Company shall as expeditiously as possible, but subject to Section 2.1(b), use its commercially reasonable efforts to facilitate such Underwritten Block Trade
(which may close as early as two (2) Business Days after the date it commences); provided, however, that the Demand Party requesting such Underwritten Block Trade shall use commercially reasonable efforts to work with the Company
and the underwriters prior to making such request in order to facilitate preparation of the registration statement (including filing an automatic shelf registration statement), prospectus and other offering documentation related to the Underwritten
Block Trade. In the event a Demand Party requests such an Underwritten Block Trade, notwithstanding anything to the contrary in this Section 2.1 or in Section 2.2, any holder of Shares who is not a Holder shall have no right to notice of
or to participate in such Underwritten Block Trade at any time. The Company shall, at the request of any Initiating Holder, file any prospectus supplement or, if the applicable Shelf Registration Statement is an automatic shelf registration
statement, any post-effective amendments and otherwise take any action necessary to include therein all disclosure and language deemed necessary or advisable by the Initiating Holders or any other Holder of Shelf Registrable Securities to effect
such Shelf Underwriting. Once a Shelf Registration Statement has been declared effective, the Demand Parties may request, and the Company shall be required to facilitate, subject to Section 2.1(b), an unlimited number of Shelf Underwritings
with respect to such Shelf Registration Statement. Notwithstanding anything to the contrary in this Section 2.1(e), each Shelf Underwriting must include, in the aggregate, Shares having an aggregate market value of at least the lesser of
(a) the Minimum Threshold (based on the Shares included in such Shelf Underwriting by all Holders participating in such Shelf Underwriting) and (b) the Initiating Holder’s remaining Shares. 

  
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 (f) Any Initiating Holder may revoke a Demand Registration Request delivered by such Initiating
Holder at any time prior to the effectiveness of such Demand Registration and such Demand Registration shall have no further force or effect and such request shall not count as a Demand Registration Request under this Agreement. 

(g) In the event that any Holder fails to take all steps necessary to commence an Underwritten Block Trade within two (2) Business Days of
the date on which a Company Block Trade Notice is sent to such Holder, then, notwithstanding anything to the contrary in Sections 2.1 and 2.2, the Demand Party requesting the Underwritten Block Trade shall have the right to exclude such Holder from
participating in such Underwritten Block Trade. 
 2.2. Piggyback Registrations. 

(a) If the Company proposes or is required (pursuant to Section 2.1 or otherwise) to register any Shares for its own account or for the
account of any other shareholder under the Securities Act (other than a Form S-4 or Form S-8 or any successor or other forms promulgated for similar purposes or forms
filed in connection with an exchange offer or any employee benefit or stock purchase and/or dividend reinvestment plan or a registration statement registering Shares that are issuable solely upon conversion of Share Equivalents), the Company shall
give written notice (the “Piggyback Notice”) of its intention to do so to each of the Holders of Registrable Securities at least five (5) Business Days prior to the filing of any registration statement under the Securities Act.
Upon the written request of any such Holder, made within five (5) days following the receipt of any such Piggyback Notice (which request shall specify the maximum number of Registrable Securities intended to be disposed of by such Holder and
the intended method of distribution thereof), the Company shall, subject to Sections 2.2(c), 2.2(f), 2.3 and 2.6 hereof, use its commercially reasonable efforts to cause all such Registrable Securities, the Holders of which have so requested the
registration thereof, to be registered under the Securities Act with the securities that the Company at the time proposes to register to permit the sale or other disposition by the Holders (in accordance with the intended method of distribution
thereof) of the Registrable Securities to be so registered, including, if necessary, by filing with the SEC a post-effective amendment or a supplement to the registration statement filed by the Company or the prospectus related thereto. There is no
limitation on the number of such piggyback registrations pursuant to the preceding sentence that the Company is obligated to effect. No registration of Registrable Securities effected under this Section 2.2(a) shall relieve the Company of its
obligations to effect Demand Registrations under Section 2.1 hereof. If the Company proposes or is required (pursuant to Section 2.1 or otherwise) to sell pursuant to an underwritten offering Registrable Securities available for sale
pursuant to a Shelf Registration Statement (a “Company Shelf Underwriting”), the Company shall, as promptly as practicable, give written notice of such Company Shelf Underwriting (a “Company Shelf Notice”) to each
Holder of Shelf Registrable Securities. In addition to any equity securities that the Company proposes to sell for its own account in such Company Shelf Underwriting, the Company shall, 

  
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subject to Sections 2.3 and 2.6, include in such Company Shelf Underwriting the Shelf Registrable Securities of any other Holder of Shelf Registrable Securities that shall have made a written
request to the Company for inclusion in such Company Shelf Underwriting (which request shall specify the maximum number of Shelf Registrable Securities intended to be disposed of by such Holder) within five (5) Business Days after the receipt
of the Company Shelf Notice. Notwithstanding the foregoing, (x) if the Company wishes to engage in an Underwritten Block Trade pursuant to a Shelf Registration Statement (a “Company Underwritten Block Trade”), then
notwithstanding the foregoing time periods, the Company only needs to notify the Holders of the Company Underwritten Block Trade two (2) Business Days prior to the day such Company Underwritten Block Trade is to commence and the Company shall
notify the Holders and such Holders must elect whether or not to participate by the next Business Day (i.e., one (1) Business Day prior to the date such Underwritten Block Trade is to commence), and the Company shall as expeditiously as
possible use its commercially reasonable efforts to facilitate such Company Underwritten Block Trade (which may close as early as two (2) Business Days after the date it commences), and (y) if a Demand Party wishes to engage in an
Underwritten Block Trade pursuant to a Shelf Registration Statement, then the provisions set forth in Section 2.1(e) shall apply to such Underwritten Block Trade. In the event the Company or a Demand Party requests a Company Underwritten Block Trade
or an Underwritten Block Trade, as applicable, notwithstanding anything to the contrary in Section 2.1 or in this Section 2.2, any holder of Shares who does not constitute a Holder shall have no right to notice of or to participate in such
Company Underwritten Block Trade or Underwritten Block Trade, as applicable. 
 (b) The Company, subject to Sections 2.3 and 2.6 and the
final sentence of Section 2.2(a), may elect to include in any registration statement and offering pursuant to demand registration rights by any Person or otherwise, (i) authorized but unissued Shares or Shares held by the Company as treasury
shares and (ii) any other Shares that are requested to be included in such registration pursuant to the exercise of piggyback registration rights granted by the Company after the date hereof and that are not inconsistent with the rights granted
in, or otherwise conflict with the terms of, this Agreement (“Additional Piggyback Rights”); provided, however, that, with respect to any underwritten offering, including a block trade, such inclusion shall be
permitted only to the extent that it is pursuant to, and subject to, the terms of the underwriting agreement or arrangements, if any, entered into by the Initiating Holders or the Majority Participating Holders in such underwritten offering. 

(c) If, at any time after giving a Piggyback Notice and prior to the effective date of the registration statement filed in connection with such
registration, (i) any Initiating Holder determines for any reason not to proceed with the proposed registration, the Company may at its election give written notice of such determination to each Holder of record of Registrable Securities and
thereupon will be relieved of its obligation to register any Registrable Securities in connection with such registration and (ii) other than in connection with a Demand Registration, the Company shall determine for any reason not to register or
to delay registration of such equity securities, the Company may, at its election, give written notice of such determination to all Holders of record of Registrable Securities and (x) in the case of a determination not to register, shall be
relieved of its obligation to register any Registrable Securities in connection with such abandoned registration, without prejudice, however, to the rights of Holders under Section 2.1, and (y) in the case of a determination to delay such
registration of its equity securities, shall be permitted to delay the registration of such Registrable Securities for the same period as the delay in registering such other equity securities. 

  
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 (d) Any Holder shall have the right to withdraw its request for inclusion of its Registrable
Securities in any registration statement pursuant to this Section 2.2 by giving written notice to the Company of its request to withdraw; provided, however, that such request must be made in writing prior to the earlier of the
execution of the underwriting agreement or the execution of the custody agreement with respect to such registration or as otherwise required by the underwriters. 

(e) Notwithstanding anything contained herein to the contrary, the piggyback registration rights granted pursuant to this Section 2.2
shall automatically terminate at such time as both (i) the Registrable Securities beneficially owned by the Shareholders no longer constitute at least five percent (5%) of the outstanding Shares and (ii) no Shareholder is an
“affiliate” of the Company (within the meaning of Rule 144). 

  
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 2.3. Allocation of Securities Included in Registration Statement. 

(a) If any requested registration made pursuant to Section 2.1 (including a Shelf Underwriting) involves (x) an underwritten offering
and the Manager of such offering shall advise the Company and any Holder of Registrable Securities included in such underwritten offering that, in its view, the number of securities requested to be included in such underwritten offering by the
Holders of Registrable Securities, the Company or any other Persons exercising Additional Piggyback Rights exceeds the largest number (the “Section 2.3(a)(x) Sale Number”) that can be sold in an orderly manner in such
underwritten offering within a price range acceptable to the Initiating Holders and the Majority Participating Holders, or (y) an Underwritten Block Trade and the number of securities requested to be included in such Underwritten Block Trade by
the Holders of Registrable Securities or any other Persons exceeds the number that are sold in any such Underwritten Block Trade (the “Section 2.3(a) Block Trade Sale Number” and, together with the Section 2.3(a)(x) Sale
Number, the “Section 2.3(a) Sale Number”), the Company shall use its commercially reasonable efforts to include in such underwritten offering: 

(i) first, all Registrable Securities requested to be included in such underwritten offering by the Holders thereof (including pursuant to the
exercise of piggyback rights pursuant to Section 2.2(a)); provided, however, that if the number of such Registrable Securities exceeds the Section 2.3(a) Sale Number, the number of such Registrable Securities (not to exceed
the Section 2.3(a) Sale Number) to be included in such underwritten offering shall be allocated on a pro rata basis among all Holders requesting that Registrable Securities be included in such underwritten offering (including pursuant to the
exercise of piggyback rights pursuant to Section 2.2(a)), based on the number of Registrable Securities then owned by each such Holder requesting inclusion in relation to the aggregate number of Registrable Securities owned by all Holders
requesting inclusion; 
 (ii) second, to the extent that the number of Registrable Securities to be included pursuant to clause (i) of
this Section 2.3(a) is less than the Section 2.3(a) Sale Number, any securities that the Company proposes to register or sell, up to the Section 2.3(a) Sale Number; and 

(iii) third, to the extent that the number of Registrable Securities to be included pursuant to clauses (i) and (ii) of this
Section 2.3(a) is less than the Section 2.3(a) Sale Number, the remaining securities to be included in such underwritten offering shall be allocated on a pro rata basis among all Persons requesting that securities be included in such
underwritten offering pursuant to the exercise of Additional Piggyback Rights (“Additional Piggyback Shares”), based on the number of Additional Piggyback Shares then owned by each Person requesting inclusion in relation to the
aggregate number of Additional Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(a) Sale Number. 

  
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 (b) If any registration or offering made pursuant to Section 2.2 involves (x) an
underwritten primary offering on behalf of the Company after the date hereof and the Manager shall advise the Company that, in its view, the number of securities requested to be included in such underwritten offering by the Holders of Registrable
Securities, the Company or any other Persons exercising Additional Piggyback Rights exceeds the largest number (the “Section 2.3(b)(x) Sale Number”) that can be sold in an orderly manner in such underwritten offering within a
price range acceptable to the Company or (y) a Company Underwritten Block Trade and the number of securities requested to be included in such Company Underwritten Block Trade by the Company, the Holders of Registrable Securities or any other
Persons exceeds the number that are sold in any such Company Underwritten Block Trade (the “Section 2.3(b) Block Trade Sale Number” and, together with the Section 2.3(b)(x) Sale Number, the “Section 2.3(b) Sale
Number”), the Company shall use its commercially reasonable efforts to include in such underwritten offering: 
 (i) first, all
equity securities that the Company proposes to register or sell for its own account; 
 (ii) second, to the extent that the number of
Registrable Securities to be included pursuant to clause (i) of this Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining Registrable Securities to be included in such underwritten offering shall be allocated on a
pro rata basis among all Holders requesting that Registrable Securities be included in such underwritten offering pursuant to the exercise of piggyback rights pursuant to Section 2.2(a), based on the number of Registrable Securities then owned
by each such Holder requesting inclusion in relation to the aggregate number of Registrable Securities owned by all Holders requesting inclusion, up to the Section 2.3(b) Sale Number; and 

(iii) third, to the extent that the number of Registrable Securities to be included pursuant to clauses (i) and (ii) of this
Section 2.3(b) is less than the Section 2.3(b) Sale Number, the remaining securities to be included in such underwritten offering shall be allocated on a pro rata basis among all Persons requesting that securities be included in such
underwritten offering pursuant to the exercise of Additional Piggyback Rights, based on the number of Additional Piggyback Shares then owned by each Person requesting inclusion in relation to the aggregate number of Additional Piggyback Shares owned
by all Persons requesting inclusion, up to the Section 2.3(b) Sale Number. 
 (c) If any registration pursuant to Section 2.2
involves an underwritten offering that was initially requested by any Person(s) (other than a Holder) to whom the Company has granted registration rights that are not inconsistent with the rights granted in, and do not otherwise conflict with the
terms of, this Agreement and the Manager shall advise the Company that, in its view, the number of securities requested to be included in such underwritten offering exceeds the number (the “Section 2.3(c) Sale Number”) that can
be sold in an orderly manner in such underwritten offering within a price range acceptable to the Company, the Company shall include in such underwritten offering: 

(i) first, the securities requested to be included in such underwritten offering shall be allocated on a pro rata basis among such Person(s)
requesting the registration and all Holders requesting that Registrable Securities be included in such underwritten offering pursuant to the exercise of piggyback rights pursuant to Section 2.2(a), based on the aggregate number of securities or
Registrable Securities, as applicable, then owned by each of the foregoing requesting inclusion in relation to the aggregate number of securities or Registrable Securities, as applicable, owned by all such Holders and Persons requesting inclusion,
up to the Section 2.3(c) Sale Number; 

  
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 (ii) second, to the extent that the number of Registrable Securities and securities to be
included pursuant to clause (i) of this Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining securities to be included in such underwritten offering shall be allocated on a pro rata basis among all Persons
requesting that securities be included in such underwritten offering pursuant to the exercise of Additional Piggyback Rights, based on the number of Additional Piggyback Shares then owned by each Person requesting inclusion in relation to the
aggregate number of Additional Piggyback Shares owned by all Persons requesting inclusion, up to the Section 2.3(c) Sale Number; and 

(iii) third, to the extent that the number of Registrable Securities and securities to be included pursuant to clauses (i) and (ii) of
this Section 2.3(c) is less than the Section 2.3(c) Sale Number, the remaining securities to be included in such underwritten offering shall be allocated to shares the Company proposes to register or sell for its own account, up to the
Section 2.3(c) Sale Number. 
 (d) If, as a result of the proration provisions set forth in clauses (a), (b) or (c) of this
Section 2.3, any Holder shall not be entitled to include all Registrable Securities in an underwritten offering that such Holder has requested be included, such Holder may elect to withdraw such Holder’s request to include Registrable
Securities in the registration to which such underwritten offering relates or may reduce the number requested to be included; provided, however, that (x) such request must be made in writing prior to the earlier of the execution of the
underwriting agreement or the execution of the custody agreement with respect to such registration and (y) such withdrawal or reduction shall be irrevocable and, after making such withdrawal or reduction, such Holder shall no longer have any
right to include Registrable Securities in the registration as to which such withdrawal or reduction was made to the extent of the Registrable Securities so withdrawn or reduced. If more than one of the Shareholders desires to register or sell
Shares and the number of Shares to be sold by the Shareholders collectively is to be reduced for any reason pursuant to Section 2.3 or otherwise, than the Shareholders may allocate among themselves the number of Shares each may register or sell
(but capped at the maximum amount of Shares they are permitted collectively to sell in such registration or offering). 
 2.4.
Registration Procedures. If and whenever the Company is required by the provisions of this Agreement to effect or cause the registration of and/or participate in any offering or sale of any Registrable Securities under the Securities Act as
provided in this Agreement (or use commercially reasonable efforts to accomplish the same), the Company shall, as expeditiously as reasonably possible: 

  
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 (a) prepare and file all filings with the SEC and FINRA required for the consummation of the
offering, including preparing and filing with the SEC a registration statement on an appropriate registration form of the SEC for the disposition of such Registrable Securities in accordance with the intended method of disposition thereof
(including, without limitation, a Partner Distribution), which registration form (i) shall be selected by the Company (except as provided for in a Demand Registration Request) and (ii) shall, in the case of a shelf registration, be
available for the sale of the Registrable Securities by the selling Holders thereof and such registration statement shall comply as to form in all material respects with the requirements of the applicable registration form and include all financial
statements required by the SEC to be filed therewith, and the Company shall use its commercially reasonable efforts to cause such registration statement to become effective and remain continuously effective for such period as any Participating
Holder pursuant to such registration statement shall reasonably request (provided, however, that as far in advance as reasonably practicable before filing a registration statement or prospectus or any amendments or supplements thereto
(other than any amendment by means of a document filed by the Company under the Exchange Act) or any free writing prospectus related thereto, the Company will furnish to the Demand Parties, counsel for each of the Participating Holders and counsel
for the Manager, if any, copies of reasonably complete drafts of all such documents proposed to be filed (including all exhibits thereto and each document incorporated by reference therein to the extent then required by the rules and regulations of
the SEC), which documents will be subject to the reasonable review and reasonable comment of such counsel (including any objections to any information pertaining to any Participating Holder and its plan of distribution and otherwise to the extent
necessary, if at all, to complete the filing or maintain the effectiveness thereof), and the Company shall make the changes reasonably requested by such counsel and shall not file any registration statement or amendment thereto (other than any
amendment by means of a document filed by the Company under the Exchange Act), any prospectus or supplement thereto or any free writing prospectus related thereto to which counsel for the Participating Holders, the Majority Participating Holders or
the underwriters, if any, shall reasonably object); provided, however, that, notwithstanding the foregoing, in no event shall the Company be required to file any document with the SEC that in the view of the Company or its counsel contains an
untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make any statement therein not misleading; provided, further, that any Participating Holder shall be entitled to review
and provide reasonable comment on disclosure regarding itself included or proposed to be included in any such filing; 
 (b) (i) subject
to Section 2.1(b), prepare and file with the SEC such amendments and supplements to such registration statement and the prospectus used in connection therewith and such free writing prospectuses and Exchange Act reports as may be necessary to
keep such registration statement continuously effective for such period as any Participating Holder pursuant to such registration statement shall reasonably request and to comply in all material respects with the provisions of the Securities Act
with respect to the sale or other disposition of all Registrable Securities covered by such registration statement, and any prospectus so supplemented to be filed pursuant to Rule 424 under the Securities Act, in accordance with the intended methods
of disposition by the seller or sellers thereof set forth in such registration statement and (ii) provide notice to such sellers of Registrable Securities and the Manager, if any, of the Company’s reasonable determination that a
post-effective amendment to a registration statement would be appropriate; 

  
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 (c) furnish, without charge, to each Participating Holder and each underwriter, if any, of the
securities covered by such registration statement such number of copies of such registration statement, each amendment and supplement thereto (in each case including all exhibits), the prospectus included in such registration statement (including
each preliminary prospectus and any summary prospectus) and any other prospectus filed under Rule 424 under the Securities Act, each free writing prospectus utilized in connection therewith, in each case, in all material respects in conformity with
the requirements of the Securities Act, and other documents, as such seller and underwriter may reasonably request in order to facilitate the public sale or other disposition of the Registrable Securities owned by such seller (the Company hereby
consenting to the use in accordance with all applicable laws of each such registration statement (or amendment or post-effective amendment thereto) and each such prospectus (or preliminary prospectus or supplement thereto) or free writing prospectus
by each such Participating Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such registration statement or prospectus); 

(d) use its commercially reasonable efforts to register or qualify the Registrable Securities covered by such registration statement under such
other securities or state “blue sky” laws of such jurisdictions as any sellers of Registrable Securities or any managing underwriter, if any, shall reasonably request in writing, and do any and all other acts and things that may be
reasonably necessary or advisable to enable such sellers or underwriter, if any, to consummate the disposition of the Registrable Securities in such jurisdictions in accordance with the intended methods of disposition (including keeping such
registration or qualification in effect for so long as such registration statement remains in effect), except that in no event shall the Company be required to qualify to do business as a foreign corporation in any jurisdiction where it would not,
but for the requirements of this paragraph (d), be required 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) promptly notify each Participating Holder and each managing underwriter, if any: (i) when the registration statement, any pre-effective amendment, the prospectus or any prospectus supplement related thereto, any post-effective amendment to the registration statement or any free writing prospectus has been filed with the SEC and, with
respect to the registration statement or any post-effective amendment, when the same has become effective; (ii) of any request by the SEC or state securities authority for amendments or supplements to the registration statement or the
prospectus related thereto or for additional information; (iii) of the issuance by the SEC of any stop order suspending the effectiveness of the registration statement or the initiation of any proceedings for that purpose; (iv) of the
receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the securities or state “blue sky” laws of any jurisdiction or the initiation of any proceeding for
such purpose; (v) of the existence of any fact of which the Company becomes aware that results in the registration statement or any amendment thereto, the prospectus related thereto or any supplement thereto, any document incorporated therein
by reference, any free writing prospectus or the information conveyed to any purchaser at the time of sale to such purchaser containing an untrue statement of a material fact or omitting to state a material fact required to be stated therein or
necessary to make any statement therein (other than with respect 

  
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to a registration statement, in the light of the circumstances under which they were made) not misleading (which notice shall notify the Participating Holders only of the occurrence of such an
event and shall provide no additional information regarding such event to the extent such information would constitute material non-public information); and (vi) if at any time the representations and
warranties contemplated by any underwriting agreement, securities sale agreement, or other similar agreement, relating to the offering shall cease to be true and correct; and, if the notification relates to an event described in clause (v), unless
the Company has declared that a Postponement Period exists, the Company shall promptly prepare and furnish to each such seller and each underwriter, if any, a reasonable number of copies of a prospectus supplemented or amended 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 in the
light of the circumstances under which they were made not misleading; 
 (f) comply (and continue to comply) in all material respects with
all applicable rules and regulations of the SEC, and make generally available to its security holders, as soon as reasonably practicable after the effective date of the registration statement (and in any event within forty-five (45) days, or
ninety (90) days if it is a fiscal year, after the end of such twelve month period described hereafter), an earnings statement (which need not be audited) covering the period of at least twelve (12) consecutive months beginning with the
first day of the Company’s first calendar quarter after the effective date of the registration statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder; 

(g) cause all such Registrable Securities covered by such registration statement to be listed on the principal securities exchange on which
similar securities issued by the Company are then listed (if any), if the listing of such Registrable Securities is then permitted under the rules of such exchange; 

(h) in connection with any underwritten offering, cause its senior management, other employees and independent public accountants (in the case
of the independent public accountants, subject to any applicable accounting guidance regarding their participation in the offering or the due diligence process) and other experts to participate in, make themselves available at reasonable times upon
reasonable request, supply such information as may reasonably be requested and to otherwise facilitate and cooperate with the preparation of the registration statement and prospectus and any amendments or supplements thereto (including participating
in meetings, drafting sessions and due diligence sessions) taking into account the Company’s reasonable business needs; 
 (i) in
connection with any underwritten offering, use its commercially reasonable efforts to make available at reasonable times upon reasonable request its senior management and other employees for participation in “road shows” and other
marketing efforts and otherwise provide reasonable assistance to the underwriters (taking into account the Company’s reasonable business needs and the requirements of the marketing process) in the marketing of Registrable Securities; 

  
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 (j) provide and cause to be maintained a transfer agent and registrar for all such Registrable
Securities covered by such registration statement not later than the effective date of such registration statement and, in the case of any secondary equity offering, provide and enter into any reasonable agreements with a custodian for the
Registrable Securities; 
 (k) enter into such customary agreements (including, if applicable, an underwriting agreement) and take such other
actions as the Initiating Holder or the Majority Participating Holders or the underwriters shall reasonably request in order to expedite or facilitate the disposition of such Registrable Securities (it being understood that the Holders of the
Registrable Securities that are to be distributed by any underwriters shall be parties to any such underwriting agreement); 
 (l) in
connection with any underwritten offering, use its commercially reasonable efforts (i) to obtain opinions from the Company’s counsel, including local counsel, and a “cold comfort” letter, updates thereof and consents from the
independent public accountants who have certified the financial statements of the Company (and/or any other financial statements) included or incorporated by reference in the applicable registration statement, in each case, in customary form and
covering such matters as are customarily covered by such opinions and “cold comfort” letters (including, in the case of such “cold comfort” letter, events subsequent to the date of such financial statements) delivered to
underwriters in underwritten public offerings, which opinions and letters shall be dated the dates such opinions and “cold comfort” letters are customarily dated and otherwise reasonably satisfactory to the underwriters, (ii) to
obtain customary letters from the Company’s reserve valuation experts addressed to the underwriters and (iii) to furnish to each Participating Holder upon its request and to each underwriter, if any, copies of such opinions and letters
addressed to such underwriter; 
 (m) deliver promptly to each Demand Party, to counsel for each of the Participating Holders and to each
managing underwriter, if any, copies of all correspondence between the SEC and the Company, its counsel or independent public accountants relating to discussions with the SEC or its staff with respect to the registration statement, and, upon receipt
of such confidentiality agreements as the Company may reasonably request, make reasonably available for inspection by counsel for the Participating Holders, by counsel for any underwriter participating in any disposition to be effected pursuant to
such registration statement and by any attorney, accountant or other agent retained by the Participating Holders or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company as may
reasonably be requested, and cause the Company’s officers and other employees to supply all information reasonably requested by any such counsel for the Participating Holders, counsel for an underwriter, attorney, accountant or agent in
connection with such registration statement; 
 (n) use its commercially reasonable efforts to prevent the issuance or obtain the withdrawal
of any order suspending the effectiveness of the registration statement, or the lifting of any suspension of the qualification of any of the Registrable Securities for sale in any jurisdiction, in each case, as promptly as reasonably practicable;


  
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 (o) provide a CUSIP number for all Registrable Securities, not later than the effective date of
the registration statement and, if applicable, provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The Depository Trust Company; 

(p) cooperate with the Participating Holders and the managing underwriter, if any, to facilitate the timely preparation and delivery of
certificates (or book-entry designations) not bearing any restrictive legends representing the Registrable Securities to be sold, and cause such Registrable Securities to be issued in such denominations and registered in such names in accordance
with the underwriting agreement at least one (1) Business Day prior to any sale of Registrable Securities to the underwriters or, if not an underwritten offering, in accordance with the instructions of the Participating Holders at least one
(1) Business Day prior to any sale of Registrable Securities and instruct any transfer agent and registrar of Registrable Securities to release any stop transfer orders in respect thereof (and, in the case of Registrable Securities registered
on a Shelf Registration Statement, at the request of any Holder, prepare and deliver certificates (or book-entry designations) representing such Registrable Securities not bearing any restrictive legends and deliver or cause to be delivered an
opinion or instructions to the transfer agent in order to allow such Registrable Securities to be sold from time to time); 
 (q) take no
direct or indirect action prohibited by Regulation M under the Exchange Act; provided, however, that to the extent that any prohibition is applicable to the Company, the Company will use its commercially reasonable efforts to make any
such prohibition inapplicable; 
 (r) use its commercially reasonable efforts to cause the Registrable Securities covered by the applicable
registration statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Participating Holders or the underwriters, if any, to consummate the disposition of such Registrable
Securities in accordance with the intended methods thereof; 
 (s) take all such other commercially reasonable actions as are necessary or
advisable in order to expedite or facilitate the disposition of such Registrable Securities; 
 (t) take all reasonable action to ensure that
any free writing prospectus utilized in connection with any registration covered by Section 2.1 or 2.2 complies in all material respects with the Securities Act, is filed in accordance with the Securities Act to the extent required thereby, is
retained in accordance with the Securities Act to the extent required thereby, will not conflict with a related prospectus, prospectus supplement and related documents and, when taken together with the related prospectus, prospectus supplement and
related documents, will not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; 

(u) in connection with any underwritten offering, if at any time the information conveyed to a purchaser at the time of sale includes any
untrue statement of a material fact or omits to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading, promptly file with the SEC such amendments or
supplements to such information as may be necessary so that the statements as so amended or supplemented will not, in the light of the circumstances, be misleading; 

  
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 (v) in connection with any underwritten offering, to the extent required by the rules and
regulations of FINRA, retain a Qualified Independent Underwriter reasonably acceptable to the Manager; and 
 (w) use its commercially
reasonable efforts to cooperate with any managing underwriters, their counsel, the Participating Holders and counsel for the Participating Holders in connection with the preparation and filing of any applications, notices, registrations and
responses to requests for additional information with FINRA, the New York Stock Exchange, the Nasdaq Stock Market, or any other national securities exchange on which the Shares are or are to be listed. 

To the extent the Company is a WKSI at the time any Demand Registration Request is submitted to the Company, and such Demand Registration
Request requests that the Company file an automatic shelf registration statement (as defined in Rule 405 under the Securities Act) (an “automatic shelf registration statement”) on Form S-3,
the Company shall file an automatic shelf registration statement that covers those Registrable Securities that are requested to be registered. To the extent the Company has filed an automatic shelf registration statement, the Company shall use its
commercially reasonable efforts to remain a WKSI (and not become an ineligible issuer (as defined in Rule 405 under the Securities Act)) during the period during which such automatic shelf registration statement is required to remain effective. If
the Company is requested to register Registrable Securities on an automatic shelf registration statement, the Company shall pay the applicable filing fee related to such Registrable Securities at the time of filing of the automatic shelf
registration statement. If the automatic shelf registration statement has been outstanding for at least three (3) years, at or prior to the end of the third year the Company shall, upon request, refile a new automatic shelf registration
statement covering the Registrable Securities that remain outstanding. If at any time when the Company is required to re-evaluate its WKSI status the Company determines that it is not a WKSI, the Company shall
use its commercially reasonable efforts to refile the shelf registration statement on Form S-3 and, if such form is not available, Form S-1 and keep such registration
statement effective during the period during which such registration statement is required to be kept effective. 
 If the Company files any
shelf registration statement for the benefit of the holders of any of its securities other than the Holders, and the Holders do not request that their Registrable Securities be included in such Shelf Registration Statement, the Company agrees that
it shall include in such registration statement such disclosures as may be required by Rule 430B under the Securities Act (referring to the unnamed selling security holders in a generic manner by identifying the initial offering of the securities to
the Holders) in order to ensure that the Holders may be added to such shelf registration statement at a later time through the filing of a prospectus supplement rather than a post-effective amendment. 

  
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 The Company may require as a condition to the Company’s obligations under this
Section 2.4 that each Participating Holder as to which any registration is being effected (i) furnish the Company such information regarding such seller and the distribution of such securities as the Company may from time to time
reasonably request, provided that such information is necessary for the Company to consummate such registration and shall be used only in connection with such registration and (ii) provide any underwriters participating in the distribution of
such securities such information as the underwriters may request and execute and deliver any agreements, certificates or other documents as the underwriters may request. 

Each Holder of Registrable Securities agrees that upon receipt of any notice from the Company of the happening of any event of the kind
described in clause (v) of paragraph (e) of this Section 2.4, such Holder will discontinue such Holder’s disposition of Registrable Securities pursuant to the registration statement covering such Registrable Securities until such
Holder’s receipt of the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 2.4 and, if so directed by the Company, will deliver to the Company (at the Company’s expense) all copies,
other than permanent file copies, then in such Holder’s possession of the prospectus covering such Registrable Securities that was in effect at the time of receipt of such notice. In the event the Company shall give any such notice, the
applicable period mentioned in paragraph (b) of this Section 2.4 shall be extended by the number of days during such period from and including the date of the giving of such notice to and including the date when each Participating Holder
covered by such registration statement shall have received the copies of the supplemented or amended prospectus contemplated by paragraph (e) of this Section 2.4. The period(s) during which the Holders are required to discontinue
disposition of securities pursuant to this paragraph shall not exceed forty-five (45) days with respect to any one such period within any 365 day period (either alone or in combination with a Postponement Period pursuant to Section 2.1(b)
hereof). 
 To the extent that any Holder is or may be deemed to be an “underwriter” of Registrable Securities pursuant to any SEC
comments or policies, the Company agrees that such Holder shall be entitled to conduct the due diligence that an underwriter would normally conduct in connection with an offering of securities registered under the Securities Act, including without
limitation receipt of customary opinions and comfort letters addressed to such Holder (to the extent permitted by applicable accounting or auditing guidance). 

2.5. Registration Expenses. 

(a) The Company shall pay all Expenses with respect to any registration or offering of Registrable Securities pursuant to Section 2,
whether or not a registration statement becomes effective or the offering is consummated. 
 (b) Notwithstanding the foregoing, (x) the
provisions of this Section 2.5 shall be deemed amended to the extent necessary to cause these expense provisions to comply with state “blue sky” laws of each state in which the offering is made, and (y) in connection with any
underwritten offering hereunder, each Participating Holder shall pay all underwriting discounts and commissions and any transfer taxes, if any, attributable to the sale of such Registrable Securities, pro rata with respect to payments of discounts
and commissions in accordance with the number of Shares sold in the offering by such Holder. In addition, each Participating Holder shall pay the expenses of its own counsel and advisors, except to the extent provided in the definition of
“Expenses”. 

  
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 2.6. Certain Limitations on Registration Rights. In the case of any registration under
Section 2.1 involving an underwritten offering, or, in the case of a registration under Section 2.2, if the Company has determined to enter into an underwriting agreement in connection therewith, all securities to be included in such
underwritten offering shall be subject to such underwriting agreement and no Person may participate in such underwritten offering unless such Person (i) agrees to sell such Person’s securities on the basis provided therein and completes
and executes all reasonable questionnaires and other documents (including custody agreements and powers of attorney, if any) that must be executed in connection therewith; provided, however, that all such documents shall be consistent with the
provisions hereof and (ii) provides such other information to the Company or the underwriter as may be necessary to register such Person’s securities. 

2.7. Limitations on Sale or Distribution of Other Securities. 

(a) Each Holder agrees (whether or not such Holder can participate in any such offering), (i) to the extent requested by a managing
underwriter, if any, of any underwritten public offering pursuant to a registration or offering effected pursuant to Section 2.1 (including any Shelf Underwriting pursuant to Section 2.1(e)), not to sell, transfer or otherwise dispose of,
including any sale pursuant to Rule 144, any Shares or Share Equivalents (other than as part of such underwritten public offering) during the time period reasonably requested by the managing underwriter, not to exceed ninety (90) days from the
pricing date of such offering or such shorter period as the managing underwriter, the Company or any executive officer or director of the Company shall agree to (and the Company hereby also so agrees (except that the Company may effect any sale or
distribution of any such securities pursuant to a registration on Form S-4 or Form S-8 or any successor or other forms promulgated for similar purposes or forms filed in
connection with an exchange offer or any employee benefit or stock purchase and/or dividend reinvestment plan), to use its commercially reasonable efforts to cause all directors and executive officers of the Company, to so agree), and (ii) to
the extent requested by a managing underwriter of any underwritten public offering effected by the Company for its own account (including without limitation any offering in which one or more Holders is selling Shares pursuant to the exercise of
piggyback rights under Section 2.2 hereof), not to sell, transfer or otherwise dispose of, including any sale pursuant to Rule 144, any Shares or Share Equivalents (other than as part of such underwritten public offering) during the time period
reasonably requested by the managing underwriter, which period shall not exceed ninety (90) days from the pricing date of such offering or such shorter period as the managing underwriter, the Company or any executive officer or director of the
Company shall agree to. Each Holder agrees to execute and deliver customary lock-up agreements for the benefit of the underwriters with such form and substance as the managing underwriter shall reasonably
determine. 

  
 24 








 (b) The Company hereby agrees that, in connection with an offering pursuant to Section 2.1
(including any Shelf Underwriting pursuant to Section 2.1(e)) or Section 2.2, the Company shall not sell, transfer, or otherwise dispose of, any Shares or Share Equivalents (other than as part of such underwritten public offering, a
registration on Form S-4 or Form S-8 or any successor or other forms promulgated for similar purposes or forms filed in connection with an exchange offer or any employee
benefit or stock purchase and/or dividend reinvestment plan), until a period of ninety (90) days (or such shorter period to which the Majority Participating Holders shall agree) shall have elapsed from the pricing date of such offering, except
to the extent otherwise agreed to by the underwriters as provided in any lock-up agreement required in connection with such offering; and the Company shall (i) so provide in any registration rights
agreements hereafter entered into with respect to any of its securities and (ii) use its commercially reasonable efforts to cause all directors and executive officers of the Company to so agree. 

2.8. No Required Sale. Nothing in this Agreement shall be deemed to create an independent obligation on the part of any Holder to sell
any Registrable Securities pursuant to any effective registration statement. A Holder is not required to include any of its Registrable Securities in any registration statement, is not required to sell any of its Registrable Securities that are
included in any effective registration statement, may sell any of its Registrable Securities in any manner in compliance with applicable law (including pursuant to Rule 144) even if such shares are already included on an effective registration
statement, and may request that Registrable Securities be registered or sold pursuant to a registration statement even if such Shares are eligible to be sold pursuant to Rule 144. 

2.9. Indemnification. 
 (a)
In the event of any registration or offer and sale of any securities of the Company under the Securities Act pursuant to this Section 2, the Company will (without limitation as to time), and hereby agrees to, and hereby does, indemnify and hold
harmless, to the fullest extent permitted by law, each Participating Holder, its directors, officers, fiduciaries, employees, stockholders, members, general and limited partners, affiliates, successors and assigns (and the directors, officers,
fiduciaries, employees, stockholders, members, general and limited partners, affiliates, successors and assigns thereof), and each other Person, if any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of
the Exchange Act) any such Participating Holder and each director, officer, employee, stockholder, fiduciary, managing director, affiliate, successor, assign or partner of such controlling Person (and all controlling Persons of any such Persons or
other controlling Persons), from and against any and all losses, claims, damages or liabilities, joint or several, actions or proceedings (whether commenced or threatened) and expenses (including reasonable fees of counsel and any amounts paid in
any settlement effected with the Company’s consent, which consent shall not be unreasonably withheld or delayed) to which each such indemnified party may become subject under the Securities Act or otherwise in respect thereof (collectively,
“Claims”), insofar as such Claims arise out of, are based upon, relate to or are in connection with (i) any untrue statement or alleged untrue statement of a material fact contained in any registration statement under which
such securities were registered under the Securities Act or the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) any untrue statement or
alleged untrue statement of a material fact contained 

  
 25 








 
in any preliminary, final or summary prospectus or any amendment or supplement thereto, together with the documents incorporated by reference therein, or any free writing prospectus utilized in
connection therewith, or the omission or alleged omission to state therein a material fact required to be stated therein or necessary in order to make the statements therein, in the light of the circumstances under which they were made, not
misleading, or (iii) any violation by the Company of any federal, state or common law rule or regulation applicable to the Company and relating to any action required of or inaction by the Company in connection with any such offering of
Registrable Securities, and the Company will reimburse any such indemnified party for any documented legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses
are incurred; provided, however, that the Company shall not be liable to any such indemnified party in any such case to the extent such Claim arises out of or is based upon any untrue statement or alleged untrue statement of a material
fact or omission or alleged omission of a material fact made in such registration statement or amendment thereof or supplement thereto or in any such prospectus or any preliminary, final or summary prospectus or free writing prospectus in reliance
upon and in strict conformity with written information furnished to the Company by or on behalf of such indemnified party specifically for use therein. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of
any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such seller. 
 (b)
Each Participating Holder shall, severally and not jointly, indemnify and hold harmless (in the same manner and to the same extent as set forth in paragraph (a) of this Section 2.9) to the extent permitted by law the Company, its officers
who signed the applicable registration statement and its directors, each Person controlling the Company within the meaning of the Securities Act and each director, officer, employee, stockholder, fiduciary, managing director, affiliate, successor,
assign or partner of such controlling Person (and all controlling Persons of any such Persons or other controlling Persons) with respect to any untrue statement or alleged untrue statement of any material fact in, or omission or alleged omission of
any material fact from, such registration statement, any preliminary, final or summary prospectus contained therein, or any amendment or supplement thereto, or any free writing prospectus utilized in connection therewith, if such statement or
alleged statement or omission or alleged omission was made in reliance upon and in strict conformity with written information furnished to the Company or its representatives by or on behalf of such Participating Holder specifically for use therein,
and each such Participating Holder, shall reimburse such indemnified party for any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such Claim as such expenses are incurred;
provided, however, that the aggregate amount that any such Participating Holder shall be required to pay pursuant to this Section 2.9 (including pursuant to indemnity, contribution or otherwise) shall in no case be greater than
the amount of the net proceeds actually received by such Participating Holder upon the sale of the Registrable Securities pursuant to the registration statement giving rise to such Claim; provided, further, that such Participating
Holder shall not be liable in any such case to the extent that prior to the filing of any such registration statement or prospectus or amendment thereof or supplement thereto, or any free writing prospectus utilized in connection therewith, such
Participating Holder has furnished in writing to the Company information expressly for use in such registration statement or prospectus or any amendment thereof or supplement thereto or 

  
 26 








 
free writing prospectus which corrected or made not misleading information previously furnished to the Company. The Company and each Participating Holder hereby acknowledge and agree that, unless
otherwise expressly agreed to in writing by such Participating Holders to the contrary, for all purposes of this Agreement, the only information furnished or to be furnished to the Company for use in any such registration statement, preliminary,
final or summary prospectus or amendment or supplement thereto, or any free writing prospectus, are statements specifically relating to (i) the beneficial ownership of Shares by such Participating Holder and its Affiliates as disclosed in the
section of such document entitled “Selling Shareholders” or “Principal and Selling Shareholders” or other variations thereof and (ii) the name and address of such Participating Holder. If any additional information about
such Holder or the plan of distribution (other than for an underwritten offering) is required by law to be disclosed in any such document, then such Holder shall not unreasonably withhold its agreement referred to in the immediately preceding
sentence. Such indemnity and reimbursement of expenses shall remain in full force and effect regardless of any investigation made by or on behalf of such indemnified party and shall survive the transfer of such securities by such Holder. 

(c) Indemnification similar to that specified in the preceding paragraphs (a) and (b) of this Section 2.9 (with appropriate
modifications) shall be given by the Company and each Participating Holder with respect to any required registration or other qualification of securities under any applicable securities and state “blue sky” laws. 

(d) Any Person entitled to indemnification under this Agreement shall notify promptly the indemnifying party in writing of the commencement of
any action or proceeding with respect to which a claim for indemnification may be made pursuant to this Section 2.9, but the failure of any indemnified party to provide such notice shall not relieve the indemnifying party of its obligations
under the preceding paragraphs of this Section 2.9, except to the extent the indemnifying party is materially and actually prejudiced thereby and shall not relieve the indemnifying party from any liability that it may have to any indemnified
party otherwise than under this Section 2.9. In case any action or proceeding is brought against an indemnified party and such indemnified party shall have notified the indemnifying party of the commencement thereof (as required above), the
indemnifying party shall be entitled to participate therein and, unless in the reasonable opinion of outside counsel to the indemnified party a conflict of interest between such indemnified and indemnifying parties may exist in respect of such
Claim, to assume the defense thereof jointly with any other indemnifying party similarly notified, to the extent that it chooses, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such
indemnified party that it so chooses, the indemnifying party shall not be liable to such indemnified party for any legal or other expenses subsequently incurred by such indemnified party in connection with the defense thereof other than reasonable
costs of investigation; provided, however, that (i) if the indemnifying party fails to take reasonable steps necessary to defend diligently the action or proceeding within thirty (30) days after receiving notice from such
indemnified party that the indemnified party believes it has failed to do so; (ii) if such indemnified party who is a defendant in any action or proceeding that is also brought against the indemnifying party reasonably shall have concluded that
there may be one or more legal or equitable defenses available to such indemnified party that are not available to the indemnifying party or that may conflict with or are different from those available to


  
 27 








 
another indemnified party with respect to such Claim; or (iii) if representation of both parties by the same counsel is otherwise inappropriate under applicable standards of professional
conduct, then, in any such case, the indemnified party shall have the right to assume or continue its own defense and the indemnifying party shall be liable for any expenses therefor. No indemnifying party shall, without the written consent of the
indemnified party, effect the settlement or compromise of, or consent to the entry of any judgment with respect to, any pending or threatened action or claim in respect of which indemnification or contribution may be sought hereunder (whether or not
the indemnified party is an actual or potential party to such action or claim) unless such settlement, compromise or judgment (A) includes an unconditional release of the indemnified party from all liability arising out of such action or claim
and (B) does not include a statement as to or an admission of fault, culpability or a failure to act, by or on behalf of any indemnified party. 

(e) If for any reason the foregoing indemnity is unavailable, unenforceable or is insufficient to hold harmless an indemnified party under
Sections 2.9(a), (b) or (c), then each applicable indemnifying party shall contribute to the amount paid or payable to such indemnified party as a result of any Claim in such proportion as is appropriate to reflect the relative fault of the
indemnifying party, on the one hand, and the indemnified party, on the other hand, with respect to such Claim. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct
or prevent such untrue statement or omission. If, however, the allocation provided in the second preceding sentence is not permitted by applicable law, then each indemnifying party shall contribute to the amount paid or payable by such indemnified
party in such proportion as is appropriate to reflect not only such relative faults but also the relative benefits of the indemnifying party and the indemnified party as well as any other relevant equitable considerations. The parties hereto agree
that it would not be just and equitable if any contribution pursuant to this Section 2.9(e) were to be determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to
in the preceding sentences of this Section 2.9(e). The amount paid or payable in respect of any Claim shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or
defending any such Claim. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation.
Notwithstanding anything in this Section 2.9(e) to the contrary, no indemnifying party (other than the Company) shall be required pursuant to this Section 2.9(e) to contribute any amount greater than the amount of the net proceeds received
by such indemnifying party from the sale of Registrable Securities pursuant to the registration statement giving rise to such Claim, less the amount of any indemnification payment made by such indemnifying party pursuant to Sections 2.9(b) and (c).
In addition, no Holder of Registrable Securities or any Affiliate thereof shall be required to pay any amount under this Section 2.9(e) unless such Person or entity would have been required to pay an amount pursuant to Section 2.9(b) if it had
been applicable in accordance with its terms. 

  
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 (f) The indemnity and contribution agreements contained herein shall be in addition to any other
rights to indemnification or contribution that any indemnified party may have pursuant to law or contract and shall remain operative and in full force and effect regardless of any investigation made or omitted by or on behalf of any indemnified
party and shall survive the transfer of the Registrable Securities by any such party. 
 (g) The indemnification and contribution required by
this Section 2.9 shall be made by periodic payments of the amount thereof during the course of the investigation or defense, as and when bills are received or expense, loss, damage or liability is incurred; provided, however, that the recipient
thereof hereby undertakes to repay such payments if and to the extent it shall be determined by a court of competent jurisdiction that such recipient is not entitled to such payment hereunder. 

2.10. Limitations on Registration of Other Securities; Representation. From and after the date of this Agreement, for so long as the
Registrable Securities beneficially owned by the Shareholders constitute at least ten percent (10%) of the outstanding Shares, the Company shall not, without the prior written consent of the Shareholders, enter into any agreement with any holder or
prospective holder of any securities of the Company giving such holder or prospective holder any registration rights the terms of which are (i) more favorable taken as a whole than the registration rights granted to the Holders hereunder unless
the Company shall also give such rights to such Holders or (ii) on parity with the registration rights granted to the Holders hereunder. 

2.11. No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its securities that is
inconsistent in any material respects with the rights granted to the Holders in this Agreement. 
 Section 3. Underwritten
Offerings. 
 3.1. Requested Underwritten Offerings. If requested by the underwriters for any underwritten offering pursuant to a
registration requested under Section 2.1, the Company shall enter into a customary underwriting agreement with the underwriters. Such underwriting agreement shall (i) be reasonably satisfactory in form and substance to the Majority
Participating Holders, (ii) contain terms not materially inconsistent with the provisions of this Agreement to the extent the underwriters of such offering agree to such terms and (iii) contain such representations and warranties by, and
such other agreements on the part of, the Company and such other terms as are customary and generally prevailing in agreements of that type, including, without limitation, indemnities and contribution agreements as are customary for the lead
underwriter for such offering and agreed to by the Majority Participating Holders. Any Participating Holder shall be a party to such underwriting agreement and may, at its option, require that any or all of the representations and warranties by, and
the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and for the benefit of such Participating Holder and that any or all of the conditions precedent to the obligations of such
underwriters under such underwriting agreement be conditions precedent to the obligations of such Participating Holder; provided, however, that the Company shall not be 

  
 29 








 
required to make any representations or warranties with respect to written information specifically provided by a Participating Holder for inclusion in the registration statement. Unless
otherwise agreed by the Majority Participating Holders and the underwriters, each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than
representations, warranties or agreements regarding such Participating Holder, its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration
statement and its intended method of distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement for indemnity, contribution or otherwise shall in no case be greater than the
amount of the net proceeds received by such Participating Holder upon the sale of Registrable Securities pursuant to such underwriting agreement and in no event shall relate to anything other than information about such Holder specifically provided
by such Holder for use in the registration statement and prospectus (in each case unless otherwise agreed by the underwriters and the Majority Participating Holders). 

3.2. Piggyback Underwritten Offerings. In the case of a registration pursuant to Section 2.2, if the Company shall have determined
to enter into an underwriting agreement in connection therewith, all of the Participating Holders’ Registrable Securities to be included in such registration shall be subject to such underwriting agreement. Any Participating Holder shall be a
party to such underwriting agreement and may, at its option, require that any or all of the representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such underwriters shall also be made to and
for the benefit of such Participating Holder and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement be conditions precedent to the obligations of such Participating Holder;
provided, however, that the Company shall not be required to make any representations or warranties with respect to written information specifically provided by a Participating Holder for inclusion in the registration statement. Unless
otherwise agreed by the Majority Participating Holders and the underwriters, each such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters other than
representations, warranties or agreements regarding such Participating Holder, its ownership of and title to the Registrable Securities, any written information specifically provided by such Participating Holder for inclusion in the registration
statement and its intended method of distribution; and any liability of such Participating Holder to any underwriter or other Person under such underwriting agreement shall in no case be greater than the amount of the net proceeds received by such
Participating Holder upon the sale of Registrable Securities pursuant to such underwriting agreement and in no event shall relate to anything other than information about such Holder specifically provided by such Holder for use in the registration
statement and prospectus (in each case unless otherwise agreed by the underwriters and Majority Participating Holders). 

  
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 Section 4. General. 

4.1. Rule 144 and Rule 144A. The Company covenants that (i) so long as it remains subject to the reporting provisions of the
Exchange Act, it will use commercially reasonable efforts to timely file the reports required to be filed by it under the Exchange Act (including, but not limited to, the reports under Sections 13 and 15(d) of the Exchange Act referred to in
subparagraph (c)(1)(i) of Rule 144 under the Securities Act, as such Rule may be amended (“Rule 144”)) or, if the Company is not required to file such reports, it will, upon the request of any Holder, make publicly available other
information so long as necessary to permit sales by such Holder under Rule 144, Rule 144A under the Securities Act, as such Rule may be amended (“Rule 144A”), or any similar rules or regulations hereafter adopted by the SEC, and
(ii) it will take such further action as any Holder may reasonably request, all to the extent required from time to time to enable such Holder to sell Registrable Securities without registration under the Securities Act within the limitation of
the exemptions provided by (A) Rule 144, (B) Rule 144A or (C) any similar rule or regulation hereafter adopted by the SEC. Upon the reasonable request of any Holder of Registrable Securities, the Company will deliver to such Holder a
written statement as to whether it has complied with such requirements. To the extent any Holder desires to sell Registrable Securities pursuant to Rule 144, the Company agrees to provide customary instructions to the transfer agent to remove any
restrictive legends from such Shares and to provide or cause any customary opinions of counsel to be delivered to the transfer agent in connection with any such sale. In addition, the Company agrees to remove any restrictive legend from the
Registrable Securities upon the reasonable request of any Holder as soon as reasonably permitted by applicable law and customary practice (including customary transfer agent practices). 

4.2. Nominees for Beneficial Owners. If Registrable Securities are held by a nominee for the beneficial owner thereof, the beneficial
owner thereof may, at its option, be treated as the Holder of such Registrable Securities for purposes of any request or other action by any Holder or Holders of Registrable Securities pursuant to this Agreement (or any determination of any number
or percentage of shares constituting Registrable Securities held by any Holder or Holders of Registrable Securities contemplated by this Agreement); provided, however, that the Company shall have received assurances reasonably satisfactory to it of
such beneficial ownership. 
 4.3. Amendments and Waivers. For three years following the date hereof, no provision of this Agreement
may be amended or modified unless such amendment or modification is approved by a majority of the Foxtrot Independent Directors (as defined in the Stockholders Agreement, dated as of June 1, 2018, by and among the Company, SCR-Sibelco NV and
the other stockholders of the Company party thereto) or by the sole Foxtrot Independent Director, so long as at least one Foxtrot Independent Director is a member of the Board of Directors of the Company. Additionally, except as otherwise provided
herein, no modification, amendment or waiver of any provision of this Agreement shall be effective against the Company or any Holder unless such modification, amendment or waiver is approved in writing by the Company and such Holder. No waiver of
any of the provisions of this Agreement shall be deemed to or shall constitute a waiver of any other provision hereof (whether or not similar). No failure or delay on the part of any party in exercising any right, power or privilege hereunder shall
operate as a waiver thereof or of any other or future exercise of any such right, power or privilege. 

  
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 4.4. Notices. All notices, requests, consents, claims, demands, waivers and other
communications hereunder shall be in writing and shall be deemed to have been given (a) when delivered by hand (with written confirmation of receipt); (b) when received by the addressee if sent by a nationally recognized overnight courier
(receipt requested); (c) on the date sent by facsimile or email of a PDF document (with confirmation of transmission) if sent during normal business hours of the recipient, and on the next Business Day if sent after normal business hours of the
recipient; or (d) on the third (3rd) day after the date mailed, by certified or registered mail, return receipt requested, postage prepaid. Such communications must be sent to the respective parties at the following addresses (or at such other
address for a party as shall be specified in a notice given in accordance with this Section 4.4): 
  

					
		 	if to the Company:
		
		 	Covia Holdings Corporation
		 	258 Elm Street,
		 	New Canaan, CT 06840
		 	United States of America
		 	Attention:	 	General Counsel
		 	Facsimile:	 	+1 (203) 966-1977 


					
		
		 	with a copy (which shall not constitute notice) to:
		
		 	 Freshfields Bruckhaus Deringer US LLP

601 Lexington Avenue

		 	New York, NY 10022
		 	Attention:	 	Peter Lyons
		 	E-mail:	 	peter.lyons@freshfields.com
		 	Attention:	 	Omar Pringle, Esq.
		 	Email:	 	omar.pringle@freshfields.com
		 	Facsimile:	 	+1 (212) 277 4001
		
		 	 if to the Shareholders:

		
		 	 SCR-Sibelco NV

		 	 Plantin en Moretuslei 1a, 2018 Antwerp

		 	Belgium	 	
		 	Attention:	 	Laurence Boens, Group Legal Counsel
		 	Facsimile:	 	+32 3 223 67 00
		
		 	 with a copy (which shall not constitute notice) to:

		
		 	 Freshfields Bruckhaus Deringer US
LLP



  
 32 









					
		 	601 Lexington Avenue
		 	New York, NY 10022
		 	Attention:	 	Peter Lyons
		 	Facsimile:	 	(212) 284-4965
		 	E-mail:	 	peter.lyons@freshfields.com

 If to any other Holder, at such Holder’s address as set forth on such Holder’s
signature page hereto or to an Assumption Agreement. 
 4.5. Successors and Assigns. Except as otherwise provided herein, this
Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and the respective successors, permitted assigns, heirs and personal representatives of the parties hereto, whether so expressed or not. This
Agreement may not be assigned by the Company without the prior written consent of the Shareholders. No Holder shall have the right to assign all or part of its rights and obligations under this Agreement without the prior written consent of the
other parties hereto; provided, that any Holder may assign this Agreement to one or more of its Affiliates without the prior written consent of the other parties hereto, and any Holder may assign this Agreement to one or more third parties who
acquire Shares from such Holder other than in a public underwritten offering or sales generally into the open market pursuant to Rule 144 so long as the Shares being acquired by such third party or parties has an aggregate market value of at least
the Minimum Threshold; provided, further, that such Holder’s Affiliate (or Affiliates) or other permitted transferee executes and delivers to the Company an Assumption Agreement. Upon any such assignment, such assignee shall have and be able to
exercise and enforce all rights of the assigning Holder that are assigned to it and, to the extent such rights are assigned, any reference to the assigning Holder shall be treated as a reference to the assignee. If any Holder shall acquire
additional Registrable Securities, such Registrable Securities shall be subject to all of the terms, and entitled to all the benefits, of this Agreement. 

4.6. Entire Agreement. This Agreement and the other documents referred to herein or delivered pursuant hereto that form part hereof
constitute the entire agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. 

4.7. Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. This Agreement shall be governed by and construed in accordance
with the internal laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that would cause the application of the laws of any jurisdiction
other than those of the State of New York. 
 Any legal suit, action or proceeding arising out of or based upon this Agreement or the
transactions contemplated hereby or thereby shall be brought in the federal or state courts located in the State of New York, and each party irrevocably submits to the exclusive jurisdiction of such courts (and the appropriate appellate courts
therefrom) in any such suit, action or proceeding. The parties irrevocably and unconditionally waive any objection to the laying of 

  
 33 








 
venue of any suit, action or any proceeding in any such court and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such
court has been brought in an inconvenient forum. Service of process, summons, notice or other document by certified or registered mail to such party’s address set forth herein shall be effective service of process for any suit, action or other
proceeding brought in any such court. 
 EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS
LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE
TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OR AGENT OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE
EVENT OF A LEGAL ACTION, (B) SUCH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER
THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 4.7. 
 4.8. Interpretation; Construction. 

(a) The headings in this Agreement are for convenience of reference only, do not constitute part of this Agreement and shall not be deemed to
limit or otherwise affect any of the provisions hereof. Where a reference in this Agreement is made to a Section, such reference shall be to a Section of this Agreement unless otherwise indicated. Whenever the words “include,”
“includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.” 

(b) The parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly by the parties, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provision of this Agreement. 

4.9. Counterparts. This Agreement may be executed and delivered in any number of separate counterparts (including by facsimile or
electronic mail), each of which shall be an original, but all of which together shall constitute one and the same agreement. 
 4.10.
Severability. The provisions of this Agreement shall be deemed severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this
Agreement, or the application thereof to any person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision 

  
 34 








 
shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and (b) the remainder of this
Agreement and the application of such provision to other persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or enforceability of such provision, or
the application thereof, in any other jurisdiction. 
 4.11. Remedies. The parties hereto agree that irreparable damage would occur in
the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that each party hereto shall be entitled to an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions of this Agreement, without the posting of any bond, and, if any action should be brought in equity to enforce any of the provisions of this Agreement, none of
the parties hereto shall raise the defense that there is an adequate remedy at law. All remedies, either under this Agreement, by law, or otherwise afforded to any party, shall be cumulative and not alternative. 

4.12. Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such further acts and things and
shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the
transactions contemplated hereby. 
 4.13. Confidentiality. Each Holder agrees that any
non-public information that such Holder may receive relating to the Company and its subsidiaries pursuant to this Agreement (the “Confidential Information”) will be held strictly confidential
and will not be disclosed by it to any Person without the express written permission of the Company; provided, however, that the Confidential Information may be disclosed (i) in the event of any compulsory legal process or compliance with any
applicable law, subpoena or other legal process or in connection with any filings that the Holder may be required to make with any regulatory authority; provided, however, that in the event of compulsory legal process, unless
prohibited by applicable law or that process, each Holder agrees (A) to give the Company prompt notice thereof and to cooperate with the Company in securing a protective order in the event of compulsory disclosure and (B) that any
disclosure made pursuant to public filings will be subject to the prior reasonable review of the Company, (ii) to any foreign or domestic governmental or quasi-governmental regulatory authority, including without limitation, any stock exchange
or other self-regulatory organization having jurisdiction over such party, (iii) to each Holder’s or its Affiliate’s and its and their respective officers, directors, employees, partners, accountants, lawyers and other professional
advisors for use relating solely to management of the investment or administrative purposes with respect to such Holder or Affiliate thereof, and (iv) to each Holder’s or its Affiliate’s direct or indirect partners, members or
investors, or potential partners, members or investors and their respective advisors, provided that such Holder or its applicable Affiliate informs such Person that such information is confidential and directs such Person to use such information
only for purpose of assisting in determining whether to invest in, or monitoring, modifying or exiting its investment in, the Company (or a Holder, Affiliate of a Holder or a direct or indirect owner of a Holder). 

  
 35 








 4.14. Restructuring. To the extent that the Board of the Company elects to effect a
restructuring or recapitalization of the Company or substantially all of the business of the Company through a subsidiary or parent company of the Company or otherwise, the provisions of this Agreement shall be appropriately adjusted, and the
Holders and the Company shall enter into such further agreements and arrangements as shall be reasonably necessary or appropriate to provide the Holders with substantially the same registration rights as they would have under this Agreement, giving
due consideration to the nature of the new public entity, the nature of the securities to be offered and tax and other relevant considerations. 

4.15. Opt-Out Rights. Each Holder shall have the right, at any time and from time to time
(including after receiving information regarding any potential public offering), to elect to not receive any notice that the Company or any other Holders otherwise are required to deliver pursuant to this Agreement by delivering to the Company a
written statement signed by such Holder that it does not want to receive any notices hereunder (an “Opt-Out Request”); in which case and notwithstanding anything to the contrary in this
Agreement the Company and other Holders shall not be required to, and shall not, deliver any notice or other information required to be provided to Holders hereunder to the extent that the Company or such other Holders reasonably expect would result
in a Holder acquiring material non-public information within the meaning of Regulation FD promulgated under the Exchange Act. An Opt-Out Request may state a date on
which it expires or, if no such date is specified, shall remain in effect indefinitely. A Holder who previously has given the Company an Opt-Out Request may revoke such request at any time, and there shall be
no limit on the ability of a Holder to issue and revoke subsequent Opt-Out Requests; provided that each Holder shall use commercially reasonable efforts to minimize the administrative burden on the Company
arising in connection with any such Opt-Out Requests. 
 [Remainder of Page Intentionally Left Blank]


  
 36 








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

			
	COVIA HOLDINGS CORPORATION
		
	By:	 	 /s/ Campbell Jones

		 	Name: Campbell Jones
		 	 Title:   Executive Vice President and

            Chief Operating Officer

	
	SCR-SIBELCO NV
		
	By:	 	 /s/ Kurt Decat

		 	Name: Kurt Decat
		 	Title:   Member of Executive Committee
	
	SCR-SIBELCO NV
		
	By:	 	 /s/ Laurence Boens

		 	Name: Laurence Boens
		 	Title:   Member of Executive Committee


 Signature Page to Registration Rights Agreement 







 Exhibit A 

ASSUMPTION AGREEMENT 

This Assumption Agreement (this “Assumption Agreement”) is made as of
[            ], by and [among] [between] [            ] (the “Transferring Holder”) and
[            ] (the “New Holder”), in accordance with that certain Registration Rights Agreement, dated as of June 1, 2018 (as amended from time to time, the
“Agreement”), by and among Covia Holdings Corporation (the “Company”) and the other Holders party thereto. 

WHEREAS, the Agreement requires the New Holder, as a condition to the assignment of Transferring Holder’s rights under the
Agreement, to become a party to the Agreement by executing this Assumption Agreement, and upon the New Holder signing this Assumption Agreement, the Agreement will be deemed to be amended to include the New Holder thereunder; 

NOW, THEREFORE, in consideration of the foregoing, and of the representations, warranties, covenants and agreements contained herein,
and intending to be legally bound hereby, the parties hereto agree as follows: 
 Section 1 Party to the Agreement. By execution
of this Assumption Agreement, as of the date hereof the New Holder is hereby made a party to the Agreement with all rights and obligations of a Shareholder. The New Holder hereby agrees to become a party to the Agreement and to be bound by, and
subject to, all of the representations, covenants, terms and conditions of the Agreement that are applicable to, and assignable under the Agreement by, the Transferring Holder, in the same manner as if the New Holder were an original signatory to
the Agreement. Execution and delivery of this Assumption Agreement by the New Holder shall also constitute execution and delivery by the New Holder of the Agreement, without further action of any party. 

Section 2 Defined Terms. Capitalized terms used but not defined herein shall have the meanings set forth in the Agreement unless
otherwise noted. 
 Section 3 Representations and Warranties of the New Holder. 

3.1 Authorization. The New Holder has all requisite [corporate] power and authority and has taken all action necessary in order to duly
and validly approve the New Holder’s execution and delivery of, and performance of its obligations under, this Assumption Agreement. This Assumption Agreement has been duly executed and delivered by the New Holder and constitutes a legal, valid
and binding agreement of the New Holder, enforceable against the New Holder in accordance with its terms. 
 3.2 No Conflict. The New
Holder is not under any obligation or restriction, whether or otherwise, nor shall it assume any such obligation or restriction, that does or would materially interfere or conflict with the performance of its obligations under this Assumption
Agreement. 
 Section 4 Further Assurances. Each party hereto shall do and perform or cause to be done and performed all such
further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this
Assumption Agreement and the consummation of the transactions contemplated hereby. 







 Section 5 Governing Law; Submission to Jurisdiction; Waiver of Jury Trial. This
Agreement shall be governed by and construed in accordance with the internal laws of the State of New York without giving effect to any choice or conflict of law provision or rule (whether of the State of New York or any other jurisdiction) that
would cause the application of the laws of any jurisdiction other than those of the State of New York. 
 Any legal suit, action or
proceeding arising out of or based upon this Agreement or the transactions contemplated hereby or thereby shall be brought in the federal or state courts located in the State of New York, and each party irrevocably submits to the exclusive
jurisdiction of such courts (and the appropriate appellate courts therefrom) in any such suit, action or proceeding. The parties irrevocably and unconditionally waive any objection to the laying of venue of any suit, action or any proceeding in any
such court and irrevocably waive and agree not to plead or claim in any such court that any such suit, action or proceeding brought in any such court has been brought in an inconvenient forum. Service of process, summons, notice or other document by
certified or registered mail to such party’s address set forth herein shall be effective service of process for any suit, action or other proceeding brought in any such court. 

EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT
ISSUES AND, THEREFORE, EACH PARTY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL ACTION ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY. EACH PARTY
CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OR AGENT OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY
UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN
THIS SECTION 5. 
 Section 6 Counterparts. This Assumption Agreement may be executed and delivered in any number of separate
counterparts (including by facsimile or electronic mail), each of which shall be an original, but all of which together shall constitute one and the same agreement. 

Section 7 Entire Agreement. This Assumption Agreement, the Registration Rights Agreement and the other documents referred to
herein or delivered pursuant hereto which form part hereof constitute the entire agreement and understanding between the parties hereto, and supersedes all prior agreements and understandings, relating to the subject matter hereof. 







 IN WITNESS WHEREOF, intending to be legally bound hereby, the undersigned parties have
executed this Assumption Agreement as of the date first above written. 
  

			
	TRANSFERRING HOLDER
	
	[        ]


 
			
		
	By:	 	  

		 	Name:
		 	Title:


 
			
	
	NEW HOLDER
	
	[        ]


 
			
		
	By:	 	  

		 	Name:
		 	Title:


 
			
	
	Notice Address: [        ]
	[        ]
	[        ]
	Attention: [        ]
	Facsimile: [        ]
	Email: [            ]


  

	
	 Accepted and Agreed to as of

the date first written above:

	
	 CORPORATION

	
	 COVIA HOLDINGS CORPORATION



			
		
	By:	 	  

		 	Name:
		 	Title: