Document:

Amended and Restated Registration Rights Agreement

 Exhibit 4.11 

 
  

 
 AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT 
 BY AND AMONG 
 SIERRA HOLDINGS CORP., 
 TPG PARTNERS V, L.P., 

TPG FOF V-A, L.P., 
 TPG FOF V-B, L.P., 
 SILVER LAKE PARTNERS II, L.P., 

SILVER LAKE TECHNOLOGY INVESTORS II, L.P., 
 SILVER LAKE PARTNERS III, L.P., 
 SILVER LAKE TECHNOLOGY INVESTORS III,
L.P., 
 SIERRA CO-INVEST, LLC, 
 AND 
 SIERRA CO-INVEST II, LLC 

DATED AS OF DECEMBER 18, 2009 
  

 
  

 TABLE OF CONTENTS 

 

							
	 	  	 	  	Page	 
	 ARTICLE I DEFINITIONS
	  	 	1	  
			
	 SECTION 1.01.
	  	DEFINED TERMS	  	 	1	  
			
	 SECTION 1.02.
	  	OTHER INTERPRETIVE PROVISIONS	  	 	6	  
		
	 ARTICLE II REGISTRATION RIGHTS
	  	 	6	  
			
	 SECTION 2.01.
	  	DEMAND REGISTRATION	  	 	6	  
			
	 SECTION 2.02.
	  	SHELF REGISTRATION	  	 	9	  
			
	 SECTION 2.03.
	  	PIGGYBACK REGISTRATION	  	 	11	  
			
	 SECTION 2.04.
	  	BLACK-OUT PERIODS	  	 	13	  
			
	 SECTION 2.05.
	  	REGISTRATION PROCEDURES	  	 	14	  
			
	 SECTION 2.06.
	  	UNDERWRITTEN OFFERINGS	  	 	19	  
			
	 SECTION 2.07.
	  	NO INCONSISTENT AGREEMENTS; ADDITIONAL RIGHTS	  	 	20	  
			
	 SECTION 2.08.
	  	REGISTRATION EXPENSES	  	 	20	  
			
	 SECTION 2.09.
	  	INDEMNIFICATION	  	 	21	  
			
	 SECTION 2.10.
	  	RULES 144 AND 144A AND REGULATION S	  	 	24	  
		
	 ARTICLE III MISCELLANEOUS
	  	 	25	  
			
	 SECTION 3.01.
	  	TERM	  	 	25	  
			
	 SECTION 3.02.
	  	INJUNCTIVE RELIEF	  	 	25	  
			
	 SECTION 3.03.
	  	ATTORNEYS’ FEES	  	 	25	  
			
	 SECTION 3.04.
	  	NOTICES	  	 	25	  
			
	 SECTION 3.05.
	  	AMENDMENT	  	 	26	  
			
	 SECTION 3.06.
	  	SUCCESSORS, ASSIGNS AND TRANSFEREES	  	 	27	  
			
	 SECTION 3.07.
	  	BINDING EFFECT	  	 	27	  
			
	 SECTION 3.08.
	  	THIRD PARTIES	  	 	27	  
			
	 SECTION 3.09.
	  	GOVERNING LAW; JURISDICTION	  	 	27	  
			
	 SECTION 3.10.
	  	WAIVER OF JURY TRIAL	  	 	27	  
			
	 SECTION 3.11.
	  	SEVERABILITY	  	 	28	  
			
	 SECTION 3.12.
	  	COUNTERPARTS	  	 	28	  
			
	 SECTION 3.13.
	  	HEADINGS	  	 	28	  
			
	 SECTION 3.14.
	  	AGGREGATION OF SHARES	  	 	28	  
			
	 SECTION 3.15.
	  	NO THIRD PARTY LIABILITY	  	 	28	  
			
	 SECTION 3.16.
	  	OBLIGATIONS OF COMPANY	  	 	28	  

  
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 AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT (the “Agreement”), dated as of December 18, 2009, by and among
Sierra Holdings Corp., a Delaware corporation (“Holdings”) (together with its successors, the “Company”), TPG Partners V, L.P. (“TPG V”), TPG FOF V-A, L.P. (“TPG FOF A”), TPG
FOF V-B, L.P. (“TPG FOF B” and together with TPG V and TPG FOF A, “TPG”), Silver Lake Partners II, L.P. (“Silver Lake II”), Silver Lake Technology Investors II, L.P. (“Silver Lake Tech
II”), Silver Lake Partners III, L.P. (“Silver Lake III”), Silver Lake Technology Investors III, L.P. (“Silver Lake Tech III”) and together with Silver Lake II, Silver Lake Tech II and Silver Lake III,
“Silver Lake”), Sierra Co-Invest, LLC (“Co-Invest”) and Sierra Co-Invest II, LLC (“Co-Invest II”), amending and restating the Registration Rights Agreement, dated as of October 26, 2007, by and
among the Company, TPG, Silver Lake and Co-Invest. 
 WITNESSETH: 

WHEREAS, as of the date hereof, the Holders (as defined below) own or may in the future own Registrable Securities (as defined below) of
the Company; and 
 WHEREAS, the parties desire to set forth certain registration rights applicable to the Registrable
Securities of the Company. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and
agreements of the parties hereto, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 

ARTICLE I 

DEFINITIONS 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Adverse Disclosure” means public disclosure of material non-public information that, in the Board of Directors’
good faith judgment, after consultation with independent outside counsel to the Company, (i) would be required to be made in any Registration Statement or report filed with the SEC by the Company so that such Registration Statement would not be
materially misleading; (ii) would not be required to be made at such time but for the filing of such Registration Statement or report; and (iii) would have a material adverse effect on the Company or its business, or on the ability of the
Company to effect a material proposed acquisition, disposition, financing, reorganization, recapitalization or similar transaction. 
 “Agreement” has the meaning set forth in the preamble. 

“Affiliate” has the meaning specified in Rule 12b-2 under the Exchange Act; provided, that no Holder shall be
deemed an Affiliate of the Company or any of its subsidiaries for purposes of this Agreement. The term “Affiliated” has a correlative meaning. 

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

 “Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks located in New
York, New York or Fort Worth, Texas are required or authorized by law to be closed. 
 “Co-Invest” has the
meaning set forth in the preamble, and any parallel investment entity of the same. 
 “Co-Invest II” has the
meaning set forth in the preamble, and any parallel investment entity of the same. 
 “Common Share
Equivalents” means securities (including, without limitation, warrants) exercisable, exchangeable or convertible into Common Shares. 
 “Common Shares” means the shares of common stock, par value $0.001 per share (including issued or issuable upon exercise or conversion of any Common Share Equivalents) and any shares of
capital stock of the Company issued or issuable with respect to such common stock by way of a stock dividend or distribution payable thereon or stock split, reverse stock split, recapitalization, reclassification, reorganization, exchange,
subdivision or combination thereof. 
 “Company” has the meaning set forth in the preamble and shall include
the Company’s successors by merger, acquisition, reorganization, conversion or otherwise. 
 “Company Public
Sale” has the meaning set forth in Section 2.03(a). 
 “Demand Notice” has the meaning set forth
in Section 2.01(e). 
 “Demand Period” has the meaning set forth in Section 2.01(d). 

“Demand Registration” has the meaning set forth in Section 2.01(a). 

“Demand Registration Statement” has the meaning set forth in Section 2.01(a). 

“Demand Suspension” has the meaning set forth in Section 2.01(f). 

“Demanding Sponsor” has the meaning set forth in Section 2.01(a). 

“Effectiveness Date” means the date on which Holders are no longer subject to any underwriter’s lock-up or other
contractual restriction on the sale of Registrable Securities in connection with the Company’s IPO. 
 “Exchange
Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time. 

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

“Holder” means any holder of Registrable Securities who is a party hereto or who succeeds to rights hereunder pursuant
to Section 3.06 and, in the case of provisions requiring notice to be provided to Holders, also means any holder of warrants or any other Common Share Equivalents to acquire Registrable Securities. 

“Holdings” has the meaning set forth in the preamble and shall include Holding’s successors by merger, acquisition,
reorganization, conversion or otherwise. 
 “Holdings Stockholders Agreement” means the Amended and Restated
Stockholders Agreement, by and among the Company, TPG V, TPG FOF A, TPG FOF B, Silver Lake II, Silver Lake Tech II, Silver Lake III, Silver Lake Tech III, Co-Invest and Co-Invest II, dated as of the date hereof, as amended, modified or supplemented
from time to time. 
 “Initial Public Offering” or “IPO” means the first underwritten public
offering and sale of the equity securities of the Company, or its successor for cash pursuant to an effective registration statement (other than on Form S-4, S-8 or a comparable form) under the Securities Act. 

“Long-Form Registration” has the meaning set forth in Section 2.01(a). 

“Loss” has the meaning set forth in Section 2.09(a). 

“Material Adverse Change” means (i) any general suspension of trading in, or limitation on prices for, securities
on any national securities exchange or in the over-the-counter market in the United States; (ii) the declaration of a banking moratorium or any suspension of payments in respect of banks in the United States; (iii) a material outbreak or
escalation of armed hostilities or other international or national calamity involving the United States or the declaration by the United States of a national emergency or war or a change in national or international financial, political or economic
conditions; (iv) any event, change, circumstance or effect that is or is reasonably likely to be materially adverse to the business, properties, assets, liabilities, condition (financial or otherwise), operations, results of operations or
prospects of the Company and its subsidiaries taken as a whole or (v) the price to the public at which the Registrable Securities are proposed to be sold will be less than 90% of the average closing price of the class of stock being sold in the
offering during the 10 trading days preceding the date on which notice of such offering was given pursuant to Section 2.01(a). 
 “Participating Holder” means, with respect to any Registration, any Holder of Registrable Securities covered by the applicable Registration Statement. 

“Permitted Transferee” means (i) an Affiliate of a Holder, (ii) in the case of any Holder that is a
partnership, limited liability company, or any foreign equivalent thereof, any partner, member or foreign equivalent thereof of such Holder and (iii) in the case of the Sponsors, an entity created and jointly owned by the Sponsors to which they
contribute their Common Shares or Common Share Equivalents; provided, however, that a partner, member or foreign equivalent thereof of a Holder shall not be a Permitted Transferee under clause (ii) unless

  
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the transfer to such Person is made in a pro rata distribution in accordance with the applicable partnership agreement, limited liability company agreement or foreign equivalent
thereof, as the case may be. 
 “Person” means any individual, partnership, corporation, limited liability
company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof. 

“Piggyback Registration” has the meaning set forth in Section 2.03(a). 

“Prospectus” means the prospectus included in any Registration Statement, all amendments and supplements to such
prospectus, including pre- and post-effective amendments to such Registration Statement, and all other material incorporated by reference in such prospectus. 
 “Registrable Securities” means any Common Shares (including any issuable or issued upon exercise, exchange or conversion of any Common Share Equivalents) and any securities that may be
issued or distributed or be issuable in respect of any Common Shares by way of conversion, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar transaction whether held on the
date hereof or hereinafter acquired; provided, however, that any such Registrable Securities shall cease to be Registrable Securities to the extent (i) a Registration Statement with respect to the sale of such Registrable
Securities has been declared effective under the Securities Act and such Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (ii) such Registrable Securities have
been sold pursuant to Rule 144 (or any similar or analogous rule promulgated under the Securities Act) under the Securities Act, (iii) such Registrable Securities shall have been otherwise transferred and new certificates for them not bearing a
legend restricting transfer under the Securities Act shall have been delivered by the Company and such securities may be publicly resold without Registration under the Securities Act, (iv) the Holder thereof, together with its Permitted
Transferees, beneficially owns less than two percent (2%) of the Common Shares that are outstanding at such time and such Holder and its Permitted Transferees are able to dispose of all of their Common Shares in any ninety (90)-day period
pursuant to Rule 144 (or any similar or analogous rule promulgated under the Securities Act), provided that, solely for the purposes of this clause (iv), Co-Invest and Co-Invest II shall be deemed to be Permitted Transferees of each other,
(v) such Registrable Securities are eligible to be sold under Rule 144 by the Holder thereof as a non-affiliate following the expiration of the relevant holding period specified therein or (vi) such Registrable Securities shall have ceased
to be outstanding or held by a Holder. 
 “Registration” means a registration with the SEC of the
Company’s securities for offer and sale to the public under a Registration Statement. The term “Register” shall have a correlative meaning. 
 “Registration Expenses” has the meaning set forth in Section 2.08. 

  
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 “Registration Statement” means any registration statement of the Company
filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments,
and all exhibits and all material incorporated by reference in such registration statement. 

“Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents,
attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 
 “Shelf Notice” has the meaning
set forth in Section 2.02(c). 
 “Shelf Period” has the meaning set forth in Section 2.02(b).

 “Shelf Registration” means a Registration effected pursuant to Section 2.02. 

“Shelf Registration Statement” means a Registration Statement of the Company filed with the SEC on either (i) Form
S-3 (or any successor form or other appropriate form under the Securities Act) or (ii) if the Company is not permitted to file a Registration Statement on Form S-3, an Registration Statement on Form S-1 (or any successor form or other
appropriate form under the Securities Act), in each case for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (or any similar rule that may be adopted by the SEC) covering the Registrable Securities, as
applicable. 
 “Shelf Suspension” has the meaning set forth in Section 2.02(d). 

“Short-Form Registration” has the meaning set forth in Section 2.01(a). 

“Silver Lake” has the meaning set forth in the preamble. 

“Silver Lake II” has the meaning set forth in the preamble. 

“Silver Lake III” has the meaning set forth in the preamble. 

“Silver Lake Tech II” has the meaning set forth in the preamble. 

“Silver Lake Tech III” has the meaning set forth in the preamble. 

“Sponsors” means each of TPG and Silver Lake and their respective Affiliates and permitted assignees hereunder.

  
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 “Sponsor Shelf Registration Amount” has the meaning set forth in
Section 2.02(a). 
 “TPG” has the meaning set forth in the preamble. 

“TPG FOF A” has the meaning set forth in the preamble. 

“TPG FOF B” has the meaning set forth in the preamble. 

“TPG V” has the meaning set forth in the preamble. 

“Underwritten Offering” means a Registration in which securities of the Company are sold to an underwriter or
underwriters on a firm commitment basis for reoffering to the public. 
 SECTION 1.02. Other Interpretive Provisions.
(a) The meanings of defined terms are equally applicable to the singular and plural forms thereof. 
 (b) The words
“hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any subsection, Section, Exhibit, Schedule and Annex
references are to this Agreement unless otherwise specified. 
 (c) The term “including” is not limiting and
means “including without limitation.” 
 (d) The captions and headings of this Agreement are for convenience of
reference only and shall not affect the interpretation of this Agreement. 
 (e) Whenever the context requires, any pronouns
used herein shall include the corresponding masculine, feminine or neuter forms. 
 ARTICLE II 

REGISTRATION RIGHTS 
 SECTION 2.01. Demand Registration. 
 (a) Demand by the Sponsors. If,
after the Effectiveness Date, there is no currently effective Shelf Registration Statement on file with the SEC, a Sponsor beneficially owning, directly or indirectly, in the aggregate, not less than five percent (5%) of the Registrable
Securities then outstanding may make a written request to the Company for Registration of all or part of the Registrable Securities held by such Sponsor (a “Demanding Sponsor”) (i) on Form S-1 or any similar long-form
registration statement (a “Long-Form Registration”) (if the Company is not eligible for a Short-Form Registration (as defined below)) or (ii) on Form S-3 or any similar short-form registration statement (a “Short-Form
Registration”) if the Company is qualified to use such short form. Any such requested Long-Form Registration or Short-Form 

  
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Registration shall hereinafter be referred to as a “Demand Registration.” Each request for a Demand Registration shall specify the kind and aggregate amount of Registrable
Securities to be Registered and the intended methods of disposition thereof. Within (i) ninety (90) days in the case of a request for a Long-Form Registration or (ii) thirty (30) days in the case of a request for a Short-Form
Registration, the Company shall file a Registration Statement relating to such Demand Registration (a “Demand Registration Statement”), and shall use its reasonable best efforts to cause such Demand Registration Statement to
promptly be declared effective under (x) the Securities Act and (y) the “Blue Sky” laws of such jurisdictions as any Participating Holder or any underwriter, if any, reasonably requests. 

(b) Limitation on Demand Registrations. Each Sponsor shall have the right to request up to three (3) Long-Form Registrations
and an unlimited number of Short-Form Registrations. Notwithstanding the foregoing, (i) each Sponsor may request no more than (A) two (2) Demand Registrations in any twelve (12)-month period or (B) more than one (1) Demand
Registration in any three (3)-month period and (ii) in no event shall the Company be required to effect more than three (3) Demand Registrations in any twelve (12)-month period. The limitations on Demand Registrations in this
Section 2.01(b) shall not apply to any Demand Registrations agreed upon by the Sponsors that are in excess of such limitations. 
 (c) Demand Withdrawal. A Demanding Sponsor and any other Holder that has requested its Registrable Securities be included in a Demand Registration pursuant to Section 2.01(e) may withdraw all
or any portion of its Registrable Securities from a Demand Registration at any time prior to the effectiveness of the applicable Demand Registration Statement. Upon receipt of a notice to such effect from the Demanding Sponsor with respect to all of
its Registrable Securities, the Company shall cease all efforts to secure effectiveness of the applicable Demand Registration Statement and such Registration nonetheless shall be deemed a Demand Registration with respect to such Demanding Sponsor
for purposes of Section 2.01(b) unless (i) the withdrawing Demanding Sponsor shall have paid or reimbursed the Company for its pro rata share of all reasonable and documented out-of-pocket fees and expenses incurred by the
Company in connection with the Registration of such Demanding Sponsor’s withdrawn Registrable Securities (based on the number of securities the Demanding Sponsor sought to register, as compared to the total number of securities included on such
Demand Registration Statement) or (ii) the withdrawal is made following the occurrence of a Material Adverse Change or because the Registration would require the Company to make an Adverse Disclosure. 

(d) Effective Registration. The Company shall be deemed to have effected a Demand Registration if the Demand Registration
Statement is declared effective by the SEC and remains effective for not less than one hundred eighty (180) days (or such shorter period as shall terminate when all Registrable Securities covered by such Demand Registration Statement have been
sold or withdrawn), or if such Registration Statement relates to an Underwritten Offering, such longer period as, in the opinion of counsel for the underwriter or underwriters, a Prospectus is required by law to be delivered in connection with sales
of Registrable Securities by an underwriter or dealer (the applicable period, the “Demand Period”). No Demand Registration shall be deemed to have been effected if (i) during the Demand Period such Registration is interfered
with by any stop order, injunction or other order or requirement of the SEC or other governmental agency or court or (ii) the conditions to closing specified in the underwriting 

  
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agreement, if any, entered into in connection with such Registration are not satisfied other than by reason of a wrongful act, misrepresentation or breach of such applicable underwriting
agreement by the Demanding Sponsor. 
 (e) Demand Notice. Promptly upon receipt of any request for a Demand Registration
pursuant to Section 2.01(a) (but in no event more than five (5) Business Days thereafter), the Company shall deliver a written notice (a “Demand Notice”) of any such Registration request to all other Holders, and the
Company shall include in such Demand Registration all such Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten (10) Business Days after the date that the Demand Notice has been
delivered. All requests made pursuant to this Section 2.01(e) shall specify the aggregate amount of Registrable Securities to be registered and the intended method of distribution of such securities. 

(f) Delay in Filing; Suspension of Registration. If the filing, initial effectiveness or continued use of a Demand Registration
Statement at any time would require the Company to make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, the Demand Registration
Statement (a “Demand Suspension”); provided, however, that the Company shall not be permitted to exercise a Demand Suspension or Shelf Suspension (as defined in Section 2.02(d)) (i) more than once during any
twelve (12)-month period, or (ii) for a period exceeding thirty (30) days on any one occasion. In the case of a Demand Suspension, the Holders agree to suspend use of the applicable Prospectus in connection with any sale or purchase, or
offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Holders upon the termination of any Demand Suspension, amend or supplement the Prospectus, if necessary, so it
does not contain any untrue statement or omission and furnish to the Holders such numbers of copies of the Prospectus as so amended or supplemented as the Holders may reasonably request. The Company agrees, if necessary, to supplement or make
amendments to the Demand Registration Statement, if required by the registration form used by the Company for the Demand Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations
promulgated thereunder or as may reasonably be requested by the Demanding Sponsor. 
 (g) Underwritten Offering. If a
Demanding Sponsor so requests in connection with an offering with estimated gross proceeds of at least $25,000,000, an offering of Registrable Securities pursuant to a Demand Registration shall be in the form of an Underwritten Offering, and such
Demanding Sponsor shall have the right to select the managing underwriter or underwriters to administer the offering; provided that such managing underwriter or underwriters shall be reasonably acceptable to the Company and the other Sponsor.

 (h) Priority of Securities Registered Pursuant to Demand Registrations. If the managing underwriter or underwriters of
a proposed Underwritten Offering of the Registrable Securities included in a Demand Registration (or, in the case of a Demand Registration not being underwritten, the Sponsors), advise the Board of Directors in writing that, in its or their opinion,
the number of securities requested to be included in such Demand Registration exceeds the 

  
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number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities
offered, the securities to be included in such Demand Registration (i) first, shall be allocated pro rata among the stockholders of the Company (including the Demanding Sponsor) who are party to a stockholders agreement with the
Company that have requested to participate in such Demand Registration based on the relative number of Registrable Securities then held by each such stockholder (provided that any securities thereby allocated to a stockholder that exceed such
stockholder’s request shall be reallocated among the remaining requesting stockholders in like manner) and (ii) next, and only if all the securities referred to in clause (i) have been included, the number of securities that the
Company and any other stockholder of the Company and any other Person that has a right to participate in such registration proposes to include in such Registration that, in the opinion of the managing underwriter or underwriters (or the Sponsors, as
the case may be) can be sold without having such adverse effect, unless the managing underwriters require a different allocation. For purposes of any allocation pursuant to this Section 2.01(h), all Registrable Securities held by any
stockholder (including any Holder) of the Company shall also include any Registrable Securities held by the partners, retired partners, members, shareholders or Affiliates of such stockholder, or the estates and family members of any such
stockholder or such partners and retired partners and members, any trusts for the benefit of any of the foregoing Persons and, at the election of such stockholder or such partners, retired partners, members, trusts or affiliates, in each case to
which any of the foregoing shall have distributed, transferred or contributed Common Shares prior to the execution of the underwriting agreement in connection with such underwritten offering. 

(i) In the event any Holder requests to participate in a Registration pursuant to this Section 2.01 in connection with a
distribution of Registrable Securities to its partners or members, the Registration shall provide for resale by such partners or members, if requested by the Holder. 
 SECTION 2.02. Shelf Registration. 
 (a) Filing. After the
Effectiveness Date, as promptly as practicable following a request as may be made from time to time by one or more Sponsors beneficially owning (together with its Affiliates), directly or indirectly, in the aggregate, not less than five percent
(5%) of the Registrable Securities then outstanding, the Company shall file with the SEC a Shelf Registration Statement relating to the offer and sale by Holders from time to time of the number of Registrable Securities specified in the
requests of the Sponsor(s) pursuant to this Section 2.02 and the other Holders pursuant to Section 2.02(c) in accordance with the methods of distribution elected by the participating Sponsor(s) and set forth in the Shelf Registration
Statement and, as promptly as practicable thereafter, shall use its reasonable best efforts to cause such Shelf Registration Statement to be declared effective under the Securities Act; provided, that any request to file a Shelf
Registration Statement on Form S-1 (or any successor form thereto) must be made by TPG and Silver Lake together. If a Sponsor makes a request pursuant to this Section 2.02(a) to file a Shelf Registration Statement and the other Sponsor did not
join in such request, the Company shall promptly (and, in any event, within five (5) Business Days) notify the other Sponsor. No later than ten (10) Business Days after the receipt of the initial request to file a Shelf Registration
Statement pursuant to this Section 2.02(a), each Sponsor shall notify the 

  
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Company in writing the number of its Registrable Securities (if any) that such Sponsor is requesting to be registered on such Shelf Registration Statement. At any time prior to or after the
filing of a Shelf Registration Statement, either of the Sponsors may request that the number of its Registrable Securities (if any) previously requested to be registered on such Shelf Registration Statement be increased to a larger number of its
Registrable Securities and the Company shall thereafter use its reasonable best efforts to effect such increase for such Shelf Registration Statement as promptly as practicable thereafter. The aggregate number of Registrable Securities that the
Sponsors request to be so registered on such Shelf Registration Statement (as increased from time to time at the election of either of the Sponsors pursuant to the immediately foregoing sentence) shall be referred to in this Section 2.02 as the
“Sponsor Shelf Registration Amount.” If, on the date of any such request, the Company does not qualify to file a Shelf Registration Statement under the Securities Act, the provisions of this Section 2.02 shall not apply,
and the provisions of Section 2.01 shall apply instead. 
 (b) Continued Effectiveness. The Company shall use its
reasonable best efforts to keep such Shelf Registration Statement continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by Holders until the earlier of (i) the date as of which all
Registrable Securities have been sold pursuant to the Shelf Registration Statement or another Registration Statement filed under the Securities Act (but in no event prior to the applicable period referred to in Section 4(3) of the Securities
Act and Rule 174 thereunder) and (ii) the date as of which each of the Holders is permitted to sell its Registrable Securities without Registration pursuant to Rule 144 under the Securities Act without volume limitation or other restrictions on
transfer thereunder (such period of effectiveness, the “Shelf Period”). Subject to Section 2.02(d), the Company shall not be deemed to have used its reasonable best efforts to keep the Shelf Registration Statement effective
during the Shelf Period if the Company voluntarily takes any action or omits to take any action that would result in Holders of Registrable Securities covered thereby not being able to offer and sell any Registrable Securities pursuant to such Shelf
Registration Statement during the Shelf Period, unless such action or omission is required by applicable law. 
 (c) Shelf
Notice. Promptly upon receipt of any request by a Sponsor (or both Sponsors if required by Section 2.02(a)) to file a Shelf Registration Statement or any request by a Sponsor to increase the number of its Registrable Securities registered
on such Shelf Registration Statement pursuant to Section 2.02(a) and the determination of the applicable Sponsor Shelf Registration Amount, the Company shall deliver a written notice (a “Shelf Notice”) of any such request to
all non-Sponsor Holders specifying the Sponsor Shelf Registration Amount and the Pro Ration Percentage (as defined below) and the Company shall include in such registration the number of Registrable Securities with respect to which the Company has
received written requests for inclusion therein within ten (10) Business Days after the date that the Shelf Notice has been delivered; provided, that no non-Sponsor Holder may request the inclusion in such Registration a percentage of
such Holder’s Registrable Securities in excess of the Pro Ration Percentage. For purposes of this Section 2.02(c), the “Pro Ration Percentage” means, as of the date of determination with respect to any particular Shelf
Registration, the percentage determined by multiplying (i) 100 by (ii) a fraction, the numerator of which is the Sponsor Shelf Registration Amount in effect as of such date with respect to such Shelf Registration and the

  
 10 

 
denominator of which is the aggregate number of Registrable Securities beneficially owned by the requesting Sponsors and their Affiliates as of such date. 

(d) Suspension of Registration. If the continued use of such Shelf Registration Statement at any time would require the Company to
make an Adverse Disclosure, the Company may, upon giving prompt written notice of such action to the Holders, suspend use of the Shelf Registration Statement (a “Shelf Suspension”); provided that the Company shall not be
permitted to exercise a Shelf Suspension or Demand Suspension (i) more than one time during any twelve (12)-month period, or (ii) for a period exceeding thirty (30) days on any one occasion. In the case of a Shelf Suspension, the
Holders agree to suspend use of the applicable Prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the
Holders upon the termination of any Shelf Suspension, amend or supplement the Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Holders such numbers of copies of the Prospectus as so amended or
supplemented as the Holders may reasonably request. The Company agrees, if necessary, to supplement or make amendments to the Shelf Registration Statement, if required by the registration form used by the Company for the Shelf Registration or by the
instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder or as may reasonably be requested by the Sponsors. 

(e) Underwritten Offering. If a Sponsor holding, directly or indirectly, in the aggregate, not less than five percent (5%) of
the Registrable Securities then outstanding so elects in connection with an offering with estimated gross proceeds of at least $25,000,000, an offering of Registrable Securities pursuant to the Shelf Registration Statement shall be in the form of an
Underwritten Offering, and the Company shall amend or supplement the Shelf Registration Statement for such purpose, and such Sponsor shall have the right to select the managing underwriter or underwriters to administer such offering; provided
that such managing underwriter or underwriters shall be reasonably acceptable to the Company and the other Sponsor. The provisions of Section 2.01(h) shall apply, mutatis mutandis, to any underwritten offering pursuant to this
Section 2.02(e). 
 SECTION 2.03. Piggyback Registration. 

(a) Participation. If the Company at any time proposes to file a Registration Statement under the Securities Act with respect to
any offering of its equity securities for its own account or for the account of any other Persons (other than (i) in connection with an IPO unless the Sponsors have elected, in their sole discretion to provide all Holders with the opportunity
to sell Registrable Securities in the IPO pursuant to this Section 2.03, (ii) a Registration on Form S-4 or S-8 or any successor form to such Forms, (iii) a Registration of securities solely relating to an offering and sale to
employees or directors of the Company pursuant to any employee stock plan or other employee benefit plan arrangement or (iv) a Registration under Section 2.01 or 2.02) (a “Company Public Sale”), then, as soon as reasonably
practicable, the Company shall give written notice of such proposed filing to the Holders, and such notice shall offer the Holders the opportunity to Register under such Registration Statement such number of Registrable Securities as each such
Holder may request in writing (a “Piggyback Registration”). Subject to 

  
 11 

 
Section 2.03(b), the Company shall include in such Registration Statement all such Registrable Securities that are requested to be included therein within fifteen (15) days after the
receipt by such Holders of any such notice; provided that if at any time after giving written notice of its intention to Register any securities and prior to the effective date of the Registration Statement filed in connection with such
Registration, the Company shall determine for any reason not to Register or to delay Registration of such securities, the Company shall give written notice of such determination to each Holder and, thereupon, (i) in the case of a determination
not to Register, shall be relieved of its obligation to Register any Registrable Securities in connection with such Registration (but not from its obligation to pay the Registration Expenses in connection therewith), without prejudice, however, to
the rights of the Sponsors to request that such Registration be effected as a Demand Registration under Section 2.01, and (ii) in the case of a determination to delay Registering, in the absence of a request for a Demand Registration,
shall be permitted to delay Registering any Registrable Securities, for the same period as the delay in Registering such other securities. If the offering pursuant to such Registration Statement is to be underwritten, then each Holder making a
request for a Piggyback Registration pursuant to this Section 2.03(a) must, and the Company shall make such arrangements with the managing underwriter or underwriters so that each such Holder may, participate in such Underwritten Offering. If
the offering pursuant to such Registration Statement is to be on any other basis, then each Holder making a request for a Piggyback Registration pursuant to this Section 2.03(a) must, and the Company shall make such arrangements so that each
such Holder may, participate in such offering on such basis. Each Holder shall be permitted to withdraw all or part of its Registrable Securities from a Piggyback Registration at any time prior to the effectiveness of such Registration Statement.

 (b) Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten
Offering of Registrable Securities included in a Piggyback Registration informs the Company and the Holders of Registrable Securities in writing that, in its or their opinion, the number of securities which such Holders and any other Persons intend
to include in such offering exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then
the securities to be included in such Registration shall be (i) first, 100% of the securities proposed to be sold in such Registration by the Company proposes to sell, and (ii) second, and only if all the securities referred to in clause
(i) have been included, the number of Registrable Securities that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect, with such number to be allocated pro rata among the
stockholders of the Company and any other Person exercising a contractual right to demand Registration that have requested to participate in such Registration based on the relative number of Registrable Securities then held by each such stockholder
of the Company (provided that any securities thereby allocated to a stockholder of the Company that exceed such stockholder’s request shall be reallocated among the remaining requesting stockholders in like manner) and (iii) third,
and only if all of the Registrable Securities referred to in clause (ii) have been included in such Registration, any other securities eligible for inclusion in such Registration, unless the managing underwriters require a different allocation.
For purposes of any allocation pursuant to this Section 2.03(b), all Registrable Securities held by any stockholder of the Company (including any Holder) shall also include any Registrable Securities held by the partners, retired partners,
members, shareholders 

  
 12 

 
or Affiliates of such stockholder, or the estates and family members of any such stockholder or such partners and retired partners and members, any trusts for the benefit of any of the foregoing
Persons and, at the election of such stockholder or such partners, retired partners, members, trusts or affiliates, in each case to which any of the foregoing shall have distributed, transferred or contributed Registrable Securities prior to the
execution of the underwriting agreement in connection with such Underwritten Offering. 
 (c) No Effect on Demand
Registrations. No Registration of Registrable Securities effected pursuant to a request under this Section 2.03 shall be deemed to have been effected pursuant to Section 2.01 or Section 2.02 or shall relieve the Company of its
obligations under Section 2.01 and Section 2.02. 
 SECTION 2.04. Black-out Periods. 

(a) Black-Out Periods for Holders. In the event of a Company Public Sale of the Company’s equity securities in an
Underwritten Offering, the Holders agree, if requested by the managing underwriter or underwriters in such Underwritten Offering and agreed to by both Sponsors, not to effect any public sale or distribution of any securities (except, in each case,
as part of the applicable Registration, if permitted) or enter into any swap or other arrangement that transfers to another any of the economic consequences of any securities, if, in either case, such securities are the same as or similar to those
being Registered in connection with such Company Public Sale, or any securities convertible into or exchangeable or exercisable for such securities, during the period beginning seven (7) days before and ending one hundred eighty (180) days
(in the event of the Company’s IPO) or ninety (90) days (in the event of any other Company Public Sale) (or, in either case, such lesser period as may be permitted by the Company or such managing underwriter or underwriters) after, the
effective date of the Registration Statement filed in connection with such Registration, to the extent timely notified in writing by the Company or the managing underwriter or underwriters; provided, however, such restrictions shall
not apply to (i) securities acquired in the public market subsequent to the IPO, (ii) distributions-in-kind to a Holder’s partners or members and (iii) transfers to Affiliates but only if such Affiliates agree to be bound by the
restrictions herein. 
 (b) Black-Out Period for the Company and Others. In the case of a Registration of Registrable
Securities pursuant to Section 2.01 or Section 2.02 for an Underwritten Offering, the Company and the Holders agree, if requested by the participating Sponsors or the managing underwriter or underwriters with respect to such Registration,
not to effect any public sale or distribution of any securities that are the same as or similar to those being Registered, or any securities convertible into or exchangeable or exercisable for such securities, during the period beginning seven
(7) days before, and ending ninety (90) days (or such lesser period as may be permitted by the participating Sponsors or such managing underwriter or underwriters) after, the effective date of the Registration Statement filed in connection
with such Registration (or, in the case of an offering under a Shelf Registration Statement, the date of the closing under the underwriting agreement in connection therewith), to the extent timely notified in writing by the Sponsors or the managing
underwriter or underwriters. Notwithstanding the foregoing, the Company may effect a public sale or distribution of securities of the type described above and during the periods described above if

  
 13 

 
such sale or distribution is made as part of any Registration of securities for offering and sale to employees or directors of the Company pursuant to any employee stock plan or other employee
benefit plan arrangement. The Company agrees to use its reasonable best efforts to obtain from each holder of restricted securities of the Company which securities are the same as or similar to the Registrable Securities being Registered, or any
restricted securities convertible into or exchangeable or exercisable for any of such securities, an agreement not to effect any public sale or distribution of such securities during any such period referred to in this paragraph, except as part of
any such Registration, if permitted. Without limiting the foregoing (but subject to Section 2.07), if after the date hereof the Company grants any Person (other than a Holder) any rights to demand or participate in a Registration, the Company
agrees that the agreement with respect thereto shall include such Person’s agreement to comply with any black-out period required by this Section 2.04 as if it were a Holder hereunder. 

(c) Waiver. No Holder will engage in any transaction that would otherwise be prohibited by clause (a) or (b) pursuant to
a waiver from such clauses unless the benefit of such waiver is extended in a pro rata manner to all Holders. For purposes of this Section 2.04, “Holders” shall mean all stockholders of the Company party hereto, whether or not they
then hold Registrable Securities. 
 SECTION 2.05. Registration Procedures. 

(a) In connection with the Company’s Registration obligations under Section 2.01, Section 2.02 or Section 2.03, the
Company shall use its reasonable best efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in
connection therewith the Company shall: 
 (i) prepare the required Registration Statement including all exhibits
and financial statements required under the Securities Act to be filed therewith, and before filing a Registration Statement or Prospectus, or any amendments or supplements thereto, (x) furnish to the underwriters, if any, and to Participating
Holders, copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and such Holders and their respective counsel and (y) except in the case of a Registration under Section 2.03, not
file any Registration Statement or Prospectus or amendments or supplements thereto to which the Sponsors or the underwriters, if any, shall reasonably object; 
 (ii) as soon as reasonably practicable (in the case of a Demand Registration or Shelf Registration, no later than thirty (30) days after a request for a Demand Registration or Shelf Registration on
Form S-3 or ninety (90) days after a request for a Demand Registration or Shelf Registration on Form S-1) file with the SEC a Registration Statement relating to the Registrable Securities including all exhibits and financial statements required
by the SEC to be filed therewith, and use its reasonable best efforts to cause such Registration Statement to become effective under the Securities Act as soon as practicable; 

  
 14 

 (iii) prepare and file with the SEC such pre- and post-effective amendments
to such Registration Statement and supplements to the Prospectus as may be (x) reasonably requested by a Sponsor, (y) reasonably requested by any other Participating Holder (to the extent such request relates to information relating to
such Holder), or (z) necessary to keep such Registration effective for the period of time required by this Agreement, and comply with provisions of the applicable securities laws with respect to the sale or other disposition of all securities
covered by such Registration Statement during such period in accordance with the intended method or methods of disposition by the sellers thereof set forth in such Registration Statement; 

(iv) notify the Participating Holders and the managing underwriter or underwriters, if any, and (if requested) confirm
such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable Registration Statement or any amendment thereto has been filed or
becomes effective, and when the applicable Prospectus or any amendment or supplement to such Prospectus has been filed, (b) of any written comments by the SEC or any request by the SEC or any other federal or state governmental authority for
amendments or supplements to such Registration Statement or such Prospectus or for additional information, (c) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order by the SEC or
any other regulatory authority preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for such purposes, (d) if, at any time, the representations and warranties of the Company
in any applicable underwriting agreement cease to be true and correct in all material respects, and (e) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for
offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; 
 (v)
promptly notify the Participating Holders and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable Registration Statement or the Prospectus included in
such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such Prospectus and any preliminary Prospectus, in light of
the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or Prospectus in order to comply with the Securities Act and,
in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the Participating Holders and the managing underwriter or underwriters, if any, an amendment or supplement to such
Registration Statement or Prospectus which shall correct such misstatement or omission or effect such compliance; 
 (vi) use its reasonable best efforts to prevent, or obtain the withdrawal of, any stop order or other order suspending the use of any preliminary or final Prospectus; 

  
 15 

 (vii) promptly incorporate in a Prospectus supplement or post-effective
amendment such information as the managing underwriter or underwriters and the Sponsors agree should be included therein relating to the plan of distribution with respect to such Registrable Securities; and make all required filings of such
Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; 

(viii) furnish to each Participating Holder and each underwriter, if any, without charge, as many conformed copies as such
Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all
exhibits (including those incorporated by reference); 
 (ix) deliver to each Participating Holder and each
underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being understood that the
Company consents to the use of such Prospectus or any amendment or supplement thereto by such Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus or any amendment or
supplement thereto) and such other documents as such Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter; 

(x) on or prior to the date on which the applicable Registration Statement is declared effective, use its reasonable best
efforts to register or qualify, and cooperate with the Participating Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the registration or qualification of such Registrable Securities for
offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction of the United States as any Participating Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in
writing and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for such period as required by Section 2.01(d) or Section 2.02(b), whichever is applicable,
provided that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such
jurisdiction where it is not then so subject; 
 (xi) cooperate with the Participating Holders and the managing
underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such
denominations and registered in such names as the managing underwriters may request at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters; 

  
 16 

 (xii) use its reasonable best 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 seller or sellers thereof or the underwriter or underwriters, if any, to
consummate the disposition of such Registrable Securities; 
 (xiii) not later than the effective date of the
applicable Registration Statement, provide a CUSIP number for all Registrable Securities and 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; 
 (xiv) make such representations and warranties to the Participating Holders and the
underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in secondary underwritten public offerings; 
 (xv) enter into such customary agreements (including underwriting and indemnification agreements) and take all such other actions as the Sponsors or the managing underwriter or underwriters, if any,
reasonably request in order to expedite or facilitate the registration and disposition of such Registrable Securities; 
 (xvi) obtain for delivery to the Participating Holders and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the effective date of the Registration
Statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to such Holders or underwriters, as the case
may be, and their respective counsel; 
 (xvii) in the case of an Underwritten Offering, obtain for delivery to
the Company and the managing underwriter or underwriters, with copies to the Participating Holders, a cold comfort letter from the Company’s independent certified public accountants in customary form and covering such matters of the type
customarily covered by cold comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement; 

(xviii) cooperate with each Participating Holder and each underwriter, if any, participating in the disposition of such
Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 
 (xix) use its reasonable best efforts to comply with all applicable securities laws and make available to its security holders, as soon as reasonably practicable, an earnings statement satisfying the
provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder; 

  
 17 

 (xx) provide and cause to be maintained a transfer agent and registrar for
all Registrable Securities covered by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement; 

(xxi) use its best efforts to cause all Registrable Securities covered by the applicable Registration Statement to be
listed on each securities exchange on which any of the Company’s securities are then listed or quoted and on each inter-dealer quotation system on which any of the Company’s securities are then quoted; 

(xxii) make available upon reasonable notice at reasonable times and for reasonable periods for inspection by the
Sponsors, by any underwriter participating in any disposition to be effected pursuant to such Registration Statement and by any attorney, accountant or other agent retained by the Sponsors or any such underwriter, all pertinent financial and other
records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves
available to discuss the business of the Company and to supply all information reasonably requested by any such Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence
responsibility; provided that any such Person gaining access to information regarding the Company pursuant to this Section 2.05(a)(xxii) shall agree to hold in strict confidence and shall not make any disclosure or use any information
regarding the Company that the Company determines in good faith to be confidential, and of which determination such Person is notified, unless (w) the release of such information is requested or required (by deposition, interrogatory, requests
for information or documents by a governmental entity, subpoena or similar process) or is necessary to permit such Person to assert a due diligence or other legal defense in a legal proceeding, (x) such information is or becomes publicly known
other than through a breach of this or any other agreement of which such Person has knowledge, (y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company or (z) such
information is independently developed by such Person; and 
 (xxiii) in the case of an Underwritten Offering,
cause the senior executive officers of the Company to participate in the customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such Underwritten Offering and otherwise to
facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto. 
 (b) The Company may require each Participating Holder to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Holder and its
ownership of Registrable Securities as the Company may from time to time reasonably request in writing. Each Participating Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable
the Company to comply with the provisions of this Agreement. 

  
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 (c) Each Participating Holder agrees that, upon receipt of any notice from the Company of
the happening of any event of the kind described in Section 2.05(a)(v), such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 2.05(a)(v), or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and if so directed by the Company, such Holder shall 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 current at the time of receipt of such notice. In the event the
Company shall give any such notice, the period during which the applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such
notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus contemplated by Section 2.05(a)(v) or is advised in writing
by the Company that the use of the Prospectus may be resumed. 
 SECTION 2.06. Underwritten Offerings. 

(a) Demand and Shelf Registrations. If requested by the underwriters for any Underwritten Offering requested by the Sponsors
pursuant to a Registration under Section 2.01 or Section 2.02, the Company shall enter into an underwriting agreement with such underwriters for such offering, such agreement to be reasonably satisfactory in substance and form to the
Company, the Sponsors and the underwriters, and to contain such representations and warranties by the Company and such other terms as are generally prevailing in agreements of that type, including indemnities no less favorable to the recipient
thereof than those provided in Section 2.09. The Participating Holders shall cooperate with the Company in the negotiation of such underwriting agreement and shall give consideration to the reasonable suggestions of the Company regarding the
form thereof. Such Holders shall be parties to such underwriting agreement, which underwriting agreement shall (i) contain such representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of
such Holders as are customarily made by issuers to selling stockholders in secondary underwritten public offerings, (ii) provide that any or all of the conditions precedent to the obligations of such underwriters under such underwriting
agreement also shall be conditions precedent to the obligations of such Holders and (iii) be negotiated by the Sponsors on behalf of the Holders. Such Holders 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 Holders, such Holder’s title to the Registrable Securities, such Holder’s intended method of distribution and any other representations
required to be made by such Holder under applicable law (each of which such representations shall be made on a several basis), and the aggregate amount of the liability of such Holder shall not exceed such Holder’s net proceeds from such
Underwritten Offering. 
 (b) Piggyback Registrations. If the Company proposes to register any of its securities under
the Securities Act as contemplated by Section 2.03 and such securities are to be distributed in an Underwritten Offering through one or more underwriters, the Company shall, if requested by any Holder pursuant to Section 2.03 and subject
to the provisions of Section 

  
 19 

 
2.03(b), use its reasonable best efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such Registration all the Registrable
Securities to be offered and sold by such Holder among the securities of the Company to be distributed by such underwriters in such Registration. The Participating Holders shall be parties to the underwriting agreement between the Company and such
underwriters, which underwriting agreement shall (i) contain such representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such Holders as are customarily made by issuers to selling
stockholders in secondary underwritten public offerings and (ii) provide that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also shall be conditions precedent to the obligations
of such Holders. Any such 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 Holder, such Holder’s
title to the Registrable Securities and such Holder’s intended method of distribution or any other representations required to be made by such Holder under applicable law (each of which such representations shall be made on a several basis),
and the aggregate amount of the liability of such Holder shall not exceed such Holder’s net proceeds from such Underwritten Offering. 
 (c) Participation in Underwritten Registrations. Subject to provisions of Section 2.06(a) and Section 2.06(b) above, no Person may participate in any Underwritten Offering hereunder
unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Persons entitled to approve such arrangements and (ii) completes and executes all questionnaires,
powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
 (d) Price and Underwriting Discounts. In the case of an Underwritten Offering under Section 2.01 or Section 2.02, the price, underwriting discount and other financial terms for the
Registrable Securities shall be determined by the Demanding Sponsor(s) (or, in the case of a Shelf Registration, the Sponsor(s) selling Registrable Securities under the Shelf Registration Statement). In addition, in the case of any Underwritten
Offering, each of the Holders may withdraw their request to participate in the Registration pursuant to Section 2.01 Section 2.02 or Section 2.03 after being advised of such price, discount and other terms and shall not be required to
enter into any agreements or documentation that would require otherwise. 
 SECTION 2.07. No Inconsistent Agreements;
Additional Rights. The Company shall not hereafter enter into, and is not currently a party to, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders by this Agreement. Without the consent of
the Sponsors, the Company shall not enter into any agreement granting registration or similar rights to any Person. 
 SECTION
2.08. Registration Expenses. All expenses incident to the Company’s performance of or compliance with this Agreement shall be paid by the Company, including (i) all registration and filing fees, and any other fees and expenses
associated with filings required to be made with the SEC or FINRA, (ii) all fees and expenses in connection with compliance with any securities or “Blue Sky” laws, (iii) all printing, duplicating, word

  
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processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository
Trust Company and of printing prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants of the Company (including the expenses of any special audit and cold comfort letters
required by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting practice, (vi) all fees and
expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all applicable rating agency fees with respect to
the Registrable Securities, (viii) all reasonable fees and disbursements of legal counsel for each Sponsor, and a single counsel for, collectively, all other Holders and all other stockholders of the Company entitled to exercise registration
rights in connection with such Registration, participating in such Registration (or, in the case of a Shelf Registration, each Sponsor selling Registrable Securities under the Shelf Registration Statement and a single counsel for, collectively, all
other Holders and all other stockholders of the Company selling Registrable Securities under the Shelf Registration Statement), (ix) all fees and expenses of accountants selected by the Demanding Sponsor (or, in the case of a Shelf
Registration, the Holder selling Registrable Securities under the Shelf Registration Statement), (x) any reasonable fees and disbursements of underwriters customarily paid by issuers or sellers of securities, (xi) all fees and expenses of
any special experts or other Persons retained by the Company in connection with any Registration, (xii) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or
accounting duties), (xiii) all expenses related to the “road-show” for any underwritten offering, including all travel, meals and lodging (xiv) all other fees and disbursement customarily paid by the issuers of securities. All
such expenses are referred to herein as “Registration Expenses.” The Company shall not be required to pay underwriting discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities.

 SECTION 2.09. Indemnification. 
 (a) Indemnification by the Company. The Company agrees to, and to cause its subsidiaries to, jointly and severally indemnify and hold harmless, to the full extent permitted by law, each Holder,
each member, limited or general partner thereof, each member, limited or general partner of each such member, limited or general partner, each of their respective Affiliates, officers, directors, shareholders, employees, advisors, and agents and
each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any and all losses, penalties, judgments, suits, costs, claims, damages, liabilities
and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively “Losses”) arising out of or based upon (i) any untrue or alleged untrue statement
of a material fact contained in any Registration Statement under which such Registrable Securities are or were Registered under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment thereof or
supplement thereto or any documents incorporated by reference therein) or any other disclosure document produced by or on behalf of the Company or any of its subsidiaries including, without limitation, reports and other documents filed under the
Exchange Act, (ii) any omission or alleged omission to state therein a material fact required to be stated 

  
 21 

 
therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading,
(iii) any violation or alleged violation by the Company or any of its subsidiaries of any federal, state, foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or inaction in
connection with any of the foregoing or (iv) any actions or inactions or proceedings in respect of the foregoing whether or not such indemnified party is a party thereto; provided, that the Company shall not be liable to any particular
indemnified party (A) to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any such Registration Statement or other document in reliance upon and
in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof or (B) to the extent that any such Loss arises out of or is based upon an untrue statement or omission in a
preliminary Prospectus relating to Registrable Securities, if a Prospectus (as then amended or supplemented) that would have cured the defect was furnished to the indemnified party from whom the Person asserting the claim giving rise to such Loss
purchased Registrable Securities at least five (5) days prior to the written confirmation of the sale of the Registrable Securities to such Person and a copy of such Prospectus (as amended and supplemented) was not sent or given by or on behalf
of such indemnified party to such Person at or prior to the written confirmation of the sale of the Registrable Securities to such Person. This indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall
remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder. The Company shall also indemnify underwriters, selling
brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers and directors and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the
same extent as provided above with respect to the indemnification of the indemnified parties. 
 (b) Indemnification by the
Participating Holders. Each Participating Holder agrees (severally and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors and officers and each Person who controls the Company (within
the meaning of the Securities Act or the Exchange Act) from and against any Losses resulting from (i) any untrue statement of a material fact in any Registration Statement under which such Registrable Securities were Registered under the
Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein), or (ii) any omission to state therein a material fact
required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading, in each case, to the extent, but only to the
extent, that such untrue statement or omission is contained in any information furnished in writing by such Holder to the Company specifically for inclusion in such Registration Statement and has not been corrected in a subsequent writing prior to
or concurrently with the sale of the Registrable Securities to the Person asserting the claim. In no event shall the liability of such Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder under the
sale of Registrable Securities giving rise to such indemnification obligation. The Company shall be entitled to receive indemnities from underwriters, selling brokers, dealer managers and similar securities industry professionals participating in
the distribution, to the same extent as provided 

  
 22 

 
above (with appropriate modification) with respect to information furnished in writing by such Persons specifically for inclusion in any Prospectus or Registration Statement. 

(c) Conduct of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give prompt written
notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the
extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party;
provided that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of
such Person unless (A) the indemnifying party has agreed in writing to pay such fees or expenses, (B) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such
claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (C) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses
available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (D) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may
exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party,
the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent
of the indemnified party. No indemnifying party shall consent to entry of any judgment or enter into any settlement (x) which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of
an unconditional release from all liability in respect to such claim or litigation without the prior written consent of such indemnified party or (y) which involves the imposition of equitable remedies or other imposition of any obligations on
such indemnified person other than as a result of financial obligations for which such indemnified person will be indemnified hereunder. If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any
liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this Section 2.09(c),
in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless
(x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available
to it that are different from or in addition to those available to the other indemnified parties or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party
and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels with respect to such matter or series of related matters. 

  
 23 

 (d) Contribution. If for any reason the indemnification provided for in
Section 2.09(a) or Section 2.09(b) is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as
a result of such Loss (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions
that resulted in such losses, as well as any other relevant equitable considerations. In connection with any Registration Statement filed with the SEC by the Company, the relative fault of the indemnifying party on the one hand and the indemnified
party on the other hand shall be determined by reference to, among other things, whether any 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 by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable
if contribution pursuant to this Section 2.09(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 2.09(d). 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. The amount paid or payable by
an indemnified party as a result of the Losses referred to in Section 2.09(a) and Section 2.09(b) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.09(d), in connection with any Registration Statement filed by the Company, a Participating Holder shall not be
required to contribute any amount in excess of the dollar amount of the net proceeds received by such Holder under the sale of Registrable Securities giving rise to such contribution obligation less any amounts paid by such Holder pursuant to
Section 2.09(b). If indemnification is available under this Section 2.09, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Section 2.09(a) and Section 2.09(b) hereof without regard to
the provisions of this Section 2.09(d). The remedies provided for in this Section 2.09 are not exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

SECTION 2.10. Rules 144 and 144A and Regulation S. The Company covenants that it will file the reports required to be filed
by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the reasonable request of the Sponsors, make publicly available
such necessary information for so long as necessary to permit sales pursuant to Rules 144, 144A or Regulation S under the Securities Act), and it will take such further action as the Sponsors may reasonably request, all to the extent required from
time to time to enable the Sponsors, Co-Invest or Co-Invest II to sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by (i) Rules 144, 144A or Regulation S under the
Securities Act, as such Rules may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the reasonable request of a Holder, the Company will deliver to such Holder a written statement as to
whether it has complied with such requirements and, if not, the specifics thereof. 

  
 24 

 ARTICLE III 
 MISCELLANEOUS 
 SECTION 3.01. Term. This Agreement shall terminate upon the
later of the expiration of the Shelf Period and such time as there are no Registrable Securities, except for the provisions of Section 2.09 and Section 2.10 and all of this Article III, which shall survive any such termination. 

SECTION 3.02. Injunctive Relief. It is hereby agreed and acknowledged that it will be impossible to measure in money the damage
that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an aggrieved Person will be irreparably damaged and will not have an adequate remedy at law. Any such
Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including specific performance, to enforce such obligations, 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. 
 SECTION 3.03. Attorneys’ Fees. In any action or proceeding brought to enforce any provision of this Agreement or where any provision hereof is validly asserted as a defense, the successful
party shall, to the extent permitted by applicable law, be entitled to recover reasonable attorneys’ fees in addition to any other available remedy. 
 SECTION 3.04. Notices. Unless otherwise specified herein, all notices and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be given
or made (and shall be deemed to have been duly given or made upon receipt) by personal hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed envelope, registered first-class mail, postage prepaid, return
receipt requested, or by air courier guaranteeing overnight delivery, sent to the Person at the address given for such Person below or such other address as such Person may specify by notice to the Company: 

If to the Company: 
 Sierra Holdings Corp. 
 c/o Avaya Inc. 

211 Mt. Airy Road 
 Basking Ridge, New Jersey 07920 
 Attention: Pamela F. Craven, Chief
Administrative Officer 
 Telephone: 908.953.6000 
 Fax: 908.953.3902 
 If to TPG V, TPG FOF A OR TPG FOF B: 

TPG Capital, L.P. 
 301 Commerce Street 

  
 25 

 
Suite 3300 
 Fort Worth, Texas 76102 

Attention: Clive D. Bode 
 Telephone: 817.871.4000 
 Fax: 817.871.4001 

If to Silver Lake II, Silver Lake Tech II, Silver Lake III or Silver Lake Tech III: 

Silver Lake Partners III, L.P. 
 9 West 57th Street, 25th Floor 
 New York, New York 10019 

Attention: Greg Mondre 
 Telephone: 212.981.5600 
 Fax: 212.381.3535 

If to Co-Invest or Co-Invest II, to each of the Sponsors at the addresses indicated above and to: 

Sierra Co-Invest, LLC 
 c/o TPG Capital, L.P. 
 301 Commerce Street, Suite 3300 

Fort Worth, Texas 76102 
 Attention: Clive D. Bode 
 Telephone: 817.871.4000 

Fax: 817.871.4088 
 If to either the Sponsors, Co-Invest or Co-Invest II, copies shall be delivered to (which shall not constitute notice): 
 Ropes & Gray LLP 
 One International Place 

Boston, Massachusetts 02110 
 Attention: Alfred O. Rose, Esq. 

                Howard S. Glazer, Esq. 

Telephone: 617.951.7000 
 Fax: 617.951.7050 
 If to any other Holder who becomes party to this agreement
after the date hereof, to the address on the counterpart signature page to this Agreement executed by such Holder. 
 SECTION
3.05. Amendment. No provision of this Agreement may be amended, modified or waived in whole or in part at any time without an agreement in writing executed by the Sponsors; provided that (a) any amendment that would, by its
express terms, have a disproportionate material adverse effect on a particular Holder or Holders relative to the 

  
 26 

 
other Holders in their capacity as such shall require the written consent of such particular Holder or a majority-in-interest of such particular Holders, as applicable and (b) this
Section 3.05 may not be amended without the prior written consent of all Holders. Notwithstanding anything to the contrary contained herein, in the event that the Sponsors transfer Registrable Securities to a Permitted Transferee of the sort
described in clause (iii) of the definition thereof, the Sponsors, the Company and such Permitted Transferee shall apply the provisions of this Agreement in a manner which preserves the rights and obligations of the parties hereunder, and shall
be permitted to amend this Agreement to the extent necessary to achieve such result. 
 SECTION 3.06. Successors, Assigns and
Transferees. Each party may assign all or a portion of its rights hereunder to any Person to which such party transfers its ownership of all or any of its Registrable Securities. Such Persons and any other Person (but, in any case, excluding any
Person to which Section 4.06(a) of the Holdings Stockholders Agreement does not apply by reason of Section 4.06(c) of the Holdings Stockholders Agreement) that acquires Registrable Securities pursuant to the terms of the Holdings
Stockholders Agreement, the Second Amended and Restated Limited Liability Company Operating Agreement of Co-Invest or the Amended and Restated Limited Liability Company Operating Agreement of Co-Invest II shall execute a counterpart to this
Agreement and become a party hereto and such Person’s Registrable Securities shall be subject to the terms of this Agreement. 
 SECTION 3.07. Binding Effect. Except as otherwise provided in this Agreement, the terms and provisions of this Agreement shall be binding on and inure to the benefit of each of the parties hereto
and their respective successors. 
 SECTION 3.08. Third Parties. Nothing in this Agreement, express or implied, is
intended or shall be construed to confer upon any Person not a party hereto (other than each other Person entitled to indemnity or contribution under Section 2.09) any right, remedy or claim under or by virtue of this Agreement. 

SECTION 3.09. Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF. ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR (TO THE
EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE U.S. DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. 

SECTION 3.10. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT

  
 27 

 
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3.10. 

SECTION 3.11. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 3.12. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original,
and all of which shall constitute one and the same agreement. 
 SECTION 3.13. Headings. The heading references herein
and in the table of contents hereto are for convenience purposes only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 

SECTION 3.14. Aggregation of Shares. All Registrable Securities held by a Sponsor shall be aggregated together for purposes of
determining the availability of any rights hereunder. As among the members of any Sponsor, such Sponsor may allocate the ability to exercise any rights under this Agreement in any manner that such Sponsor sees fit. 

SECTION 3.15. No Third Party Liability. This Agreement may only be enforced against the named parties hereto. All claims or causes
of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), may be made only against the entities that are expressly identified as parties hereto; and no past, present or future director, officer, employee, incorporator, member, partner,
stockholder, Affiliate, agent, attorney or representative of any party hereto (including any Person negotiating or executing this Agreement on behalf of a party hereto), unless party to this Agreement, shall have any liability or obligation with
respect to this Agreement or with respect any claim or cause of action (whether in contract or tort) that may arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including a representation or
warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement). 
 SECTION 3.16.
Obligations of Company. The Company shall cause its subsidiaries to be jointly and severally liable for any payment obligation of the Company pursuant to this Agreement. 
 [signatures follow] 

  
 28 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

					
	SIERRA HOLDINGS CORP.
		
	By:	 	/s/ Pamela F. Craven
		 	Name:	 	Pamela F. Craven
		 	Title:	 	Chief Administrative Officer

[Signature page to the Amended and Restated Registration Rights Agreement] 

 
					
	TPG PARTNERS V, L.P.
	
	 By: TPG GenPar V, L.P.,
 its General Partner

	
	 By: TPG Advisors V, Inc.,
 its General Partner

		
	By:	 	/s/ Clive Bode
		 	Name:	 	Clive Bode
		 	Title:	 	Vice President

 [Signature Page to
the Amended and Restated Registration Rights Agreement] 

 
					
	TPG FOF V-A, L.P.
	
	 By: TPG GenPar V, L.P.,
 its General Partner

	
	 By: TPG Advisors V, Inc.,
 its General Partner

		
	By:	 	/s/ Clive Bode
		 	Name:	 	Clive Bode
		 	Title:	 	Vice President

 [Signature Page to
the Amended and Restated Registration Rights Agreement] 

 
					
	TPG FOF V-B, L.P.
	
	 By: TPG GenPar V, L.P.,
 its General Partner

	
	 By: TPG Advisors V, Inc.,
 its General Partner

		
	By:	 	/s/ Clive Bode
		 	Name:	 	Clive Bode
		 	Title:	 	Vice President

 [Signature Page to
the Amended and Restated Registration Rights Agreement] 

 
					
	SILVER LAKE PARTNERS II, L.P.
	
	 By: Silver Lake Technology Associates II, L.L.C.,
 its General Partner

	
	 By: Silver Lake Group, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Glenn H. Hutchins
		 	Name:	 	Glenn H. Hutchins
		 	Title:	 	Managing Member

 [Signature Page
to the Amended and Restated Registration Rights Agreement] 

 
					
	SILVER LAKE TECHNOLOGY INVESTORS II, L.P.
	
	 By: Silver Lake Technology Associates II, L.L.C.,
 its General Partner

	
	 By: Silver Lake Group, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Glenn H. Hutchins
		 	Name:	 	Glenn H. Hutchins
		 	Title:	 	Managing Member

 [Signature Page
to the Amended and Restated Registration Rights Agreement] 

 
					
	SILVER LAKE PARTNERS III, L.P.
	
	 By: Silver Lake Technology Associates III, L.P.,
 its General Partner

	
	 By: SLTA III (GP), L.L.C.,
 its General Partner

	
	 By: Silver Lake Group, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Glenn H. Hutchins
		 	Name:	 	Glenn H. Hutchins
		 	Title:	 	Managing Member

 [Signature Page
to the Amended and Restated Registration Rights Agreement] 

 
					
	SILVER LAKE TECHNOLOGY INVESTORS III, L.P. 
	
	 By: Silver Lake Technology Associates III, L.P.,
 its General Partner

	
	 By: SLTA III (GP), L.L.C.,
 its General Partner

	
	 By: Silver Lake Group, L.L.C.,
 its Managing Member

		
	By:	 	/s/ Glenn H. Hutchins
		 	Name:	 	Glenn H. Hutchins
		 	Title:	 	Managing Member

 [Signature Page
to the Amended and Restated Registration Rights Agreement] 

 
					
	SIERRA CO-INVEST, LLC
		
	By:	 	 Sierra Manager Co-Invest, LLC, its
 Managing Member

		
	By:	 	/s/ Greg Mondre
		 	Name:	 	Greg Mondre
		 	Title:	 	Vice President

 [Signature Page to
the Amended and Restated Registration Rights Agreement] 

 
					
	SIERRA CO-INVEST II, LLC
		
	By:	 	 Sierra Manager Co-Invest, LLC, its
 Managing Member

		
	By:	 	/s/ Greg Mondre
		 	Name:	 	Greg Mondre
		 	Title:	 	Vice President

 [Signature Page to
the Amended and Restated Registration Rights Agreement]Senior Manager Registration and Preemptive Rights Agreement

 Exhibit 4.12 
 SENIOR MANAGER REGISTRATION AND PREEMPTIVE RIGHTS AGREEMENT 
 This SENIOR
MANAGER REGISTRATION AND PREEMPTIVE RIGHTS AGREEMENT (this “Agreement”), dated as of October 26, 2007, is by and among Sierra Holdings Corp. (the “Company”) and the individuals listed on Schedule A attached
hereto (each such individual, a “Senior Manager” and collectively, the “Senior Managers”) that may become a party to this agreement from time to time in accordance with the provisions hereof. 

WITNESSETH: 
 WHEREAS, as of the date hereof, the Holders (as defined below) own Registrable Securities (as defined below) of the Company; 
 WHEREAS, the parties desire to set forth certain registration rights applicable to the Registrable Securities of the Company; and 
 WHEREAS, the parties desire to set forth certain preemptive rights applicable to future issuances of Participation Shares (as defined below) by the Company. 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other
good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 ARTICLE I 
 DEFINITIONS 

SECTION 1.01. Defined Terms. As used in this Agreement, the following terms shall have the following meanings: 

“Agreement” has the meaning set forth in the preamble. 

“Affiliate” has the meaning specified in Rule 12b-2 under the Exchange Act; provided, that no Holder shall be
deemed an Affiliate of the Company or any of its subsidiaries for purposes of this Agreement. The term “Affiliated” has a correlative meaning. 
 “Avaya” means Avaya Inc. 
 “Board of Directors”
means the board of directors of the Company. 
 “Business Day” means any day other than a Saturday, Sunday or a
day on which commercial banks located in New York, New York or Fort Worth, Texas are required or authorized by law to be closed. 
 “Closing Date” shall have the meaning given to such term in the Management Stockholders Agreement. 

 “Common Share Equivalents” means securities (including, without limitation,
warrants) exercisable, exchangeable or convertible into Common Shares. 
 “Common Shares” means the shares of
common stock, par value $0.001 per share and any shares of capital stock of the Company issued or issuable with respect to such common stock by way of a stock dividend or distribution payable thereon or stock split, reverse stock split,
recapitalization, reclassification, reorganization, exchange, subdivision or combination thereof. 
 “Company”
has the meaning set forth in the preamble and shall include the Company’s successors by merger, acquisition, reorganization, conversion or otherwise. 
 “Company Public Sale” has the meaning set forth in Section 2.03(a). 
 “Demand Notice” has the meaning set forth in Section 2.01(a). 
 “Demand Registration” means a request by a Majority Stockholder to the Company for Registration of all or part of the Registrable Securities held by such Majority Stockholder. 

“Demand Registration Statement” means a Registration Statement filed by the Company in response to a Demand
Registration. 
 “Demand Suspension” has the meaning set forth in Section 2.01(c). 

“Demanding Majority Stockholder” means the Majority Stockholder or Majority Stockholders at whose request a Demand
Registration is filed by the Company. 
 “Drag-Along Stockholder” shall have the meaning given to such term in
the Management Stockholders Agreement. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended,
and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time. 
 “FINRA” means the Financial Industry Regulatory Authority, Inc. 

“Holder” means any holder of Registrable Securities who is a party hereto or who succeeds to rights hereunder pursuant
to Section 4.07. 
 “Illiquid Securities” means securities which are not traded or quoted on the New York
Stock Exchange, American Stock Exchange or the Nasdaq National Market or on a comparable securities market or exchange existing now or in the future or which are so traded or quoted but which are subject to a contractual restriction on transfer
which does not apply to securities of the same type which are held by the Majority Stockholders. 

  
 2 

 “Initial Public Offering” or “IPO” means the first
underwritten public offering and sale of the equity securities of the Company, or its successor for cash pursuant to an effective registration statement (other than on Form S-4, S-8 or a comparable form) under the Securities Act. 

“Loss” has the meaning set forth in Section 2.09(a). 

“Majority Stockholder Shelf Registration Amount” Means, with respect to a particular Shelf Registration Statement,
the aggregate number of Registrable Securities that the Majority Stockholders request to be registered on such Shelf Registration Statement (as increased from time to time at the election of either of the Majority Stockholders as contemplated by
Section 2.02). 
 “Majority Stockholders” shall mean each of TPG and Silver Lake, and “Majority
Stockholder” shall mean either of them. 
 “Management Stockholders Agreement” means the Management
Stockholders Agreement, by and among the Company, Silver Lake, TPG and certain members of management of the Company (including the Senior Managers), dated as of the date hereof, as amended, modified or supplemented from time to time. 

“Participating Holder” means, with respect to any Registration, any Holder of Registrable Securities covered by the
applicable Registration Statement. 
 “Participation Shares” has the meaning set forth in Section 3.01.

 “Permitted Transferee” shall have the meaning given to such term in the Management Stockholders Agreement.

 “Person” means any individual, partnership, corporation, limited liability company, unincorporated
organization, trust or joint venture, or a governmental agency or political subdivision thereof. 
 “Piggyback
Registration” has the meaning set forth in Section 2.03(a). 
 “Pro Ration Percentage” has the
meaning set forth in Section 2.02(a). 
 “Pro Rata Portion” means, with respect to a Senior Manager, a
number of Common Shares determined by multiplying (i) the number of Common Shares the Company proposes to issue on the relevant issuance date by (ii) a fraction, the numerator of which is the number of Common Shares held by such Senior
Manager immediately prior to such date and the denominator of which is the aggregate number of Common Shares held by all stockholders of the Company that have preemptive rights with respect to the applicable proposed issuance. 

“Prospectus” means the prospectus included in any Registration Statement, all amendments and supplements to such
prospectus, including pre- and post-effective amendments 

  
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to such Registration Statement, and all other material incorporated by reference in such prospectus. 
 “Registrable Securities” means any Common Shares (including any issuable or issued upon exercise, exchange or conversion of any Common Share Equivalents) and any securities that may be
issued or distributed or be issuable in respect of any Common Shares by way of conversion, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar transaction whether held on the
date hereof or hereinafter acquired; provided, however, that any such Registrable Securities shall cease to be Registrable Securities to the extent (i) a Registration Statement with respect to the sale of such Registrable
Securities has been declared effective under the Securities Act and such Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (ii) such Registrable Securities have
been sold pursuant to Rule 144 (or any similar or analogous rule promulgated under the Securities Act) under the Securities Act, (iii) such Registrable Securities shall have been otherwise transferred and new certificates for them not bearing a
legend restricting transfer under the Securities Act shall have been delivered by the Company and such securities may be publicly resold without Registration under the Securities Act, (iv) the Holder thereof, together with its Permitted
Transferees, beneficially owns less than two percent (2%) of the Common Shares that are outstanding at such time and such Holder and its Permitted Transferees are able to dispose of all of their Common Shares in any ninety (90)-day period
pursuant to Rule 144 (or any similar or analogous rule promulgated under the Securities Act), (v) such Registrable Securities are eligible to be sold under clause (k) of Rule 144 or (vi) such Registrable Securities shall have ceased
to be outstanding or held by a Holder. 
 “Registration” means a registration with the SEC of the
Company’s securities for offer and sale to the public under a Registration Statement. The term “Register” shall have a correlative meaning. 
 “Registration Expenses” has the meaning set forth in Section 2.08. 
 “Registration Statement” means any registration statement of the Company filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act,
including the related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement. 

“Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents,
attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person. 
 “SEC” means the Securities and Exchange Commission. 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations
promulgated thereunder, all as the same shall be in effect from time to time. 

  
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 “Senior Manager” has the meaning set forth in the preamble. 

“Shelf Notice” has the meaning set forth in Section 2.02(a). 

“Shelf Registration” means a Registration effected pursuant to Section 2.02. 

“Shelf Registration Statement” means a Registration Statement of the Company filed with the SEC on either (i) Form
S-3 (or any successor form or other appropriate form under the Securities Act) or (ii) if the Company is not permitted to file a Registration Statement on Form S-3, a Registration Statement on Form S-1 (or any successor form or other
appropriate form under the Securities Act), in each case for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (or any similar rule that may be adopted by the SEC) covering the Registrable Securities, as
applicable. 
 “Shelf Suspension” has the meaning set forth in Section 2.02(b). 

“Silver Lake” shall mean, collectively, Silver Lake Partners II, L.P., Silver Lake Technology Investors II, L.P., Silver
Lake Partners III, L.P., Silver Lake Technology Investors III, L.P. and their respective Affiliates that hold Common Shares. 

“Tagging Stockholder” shall have the meaning given to such term in the Management Stockholders Agreement. 

“TPG” shall mean, collectively, TPG Partners V, L.P. and its respective Affiliates that hold Common Shares. 

“Underwritten Offering” means a Registration in which securities of the Company are sold to an underwriter or
underwriters on a firm commitment basis for reoffering to the public. 
 SECTION 1.02. Other Interpretive Provisions.
(a) The meanings of defined terms are equally applicable to the singular and plural forms thereof. 
 (b) The words
“hereof”, “herein”, “hereunder” and similar words refer to this Agreement as a whole and not to any particular provision of this Agreement; and any subsection, Section, Exhibit, Schedule and Annex
references are to this Agreement unless otherwise specified. 
 (c) The term “including” is not limiting and
means “including without limitation.” 
 (d) The captions and headings of this Agreement are for convenience of
reference only and shall not affect the interpretation of this Agreement. 
 (e) Whenever the context requires, any pronouns
used herein shall include the corresponding masculine, feminine or neuter forms. 

  
 5 

 ARTICLE II 
 PIGGYBACK REGISTRATION RIGHTS 
 SECTION 2.01. Demand Registration.

 (a) Demand Notice. Promptly upon receipt of any request for a Demand Registration (but in no event more than five
(5) Business Days thereafter), the Company shall deliver a written notice (a “Demand Notice”) of any such Registration request to all Holders, and the Company shall include in such Demand Registration all such Registrable
Securities with respect to which the Company has received written requests for inclusion therein within ten (10) Business Days after the date that the Demand Notice has been delivered. All requests made pursuant to this Section 2.01(a)
shall specify the aggregate amount of Registrable Securities to be registered and the intended method of distribution of such securities. 
 (b) Sponsor Direction; Withdrawal. Notwithstanding anything to the contrary contained herein, each Holder acknowledges that the Majority Stockholders making such Demand Registration may, at any
time, elect to direct the Company not to proceed with such Demand Registration in which such case the Company shall provide notice of such withdrawal to each Participating Holder. Without limiting the applicability of the preceding sentence, a
Holder that has requested its Registrable Securities be included in a Demand Registration pursuant to this Section 2.01(a) may withdraw all or any portion of its Registrable Securities from a Demand Registration at any time prior to the
effectiveness of the applicable Demand Registration Statement. 
 (c) Delay in Filing; Suspension of Registration. The
Company may, upon giving prompt written notice of such action to the Holders, delay the filing or initial effectiveness of, or suspend use of, the Demand Registration Statement (a “Demand Suspension”). In the case of a Demand
Suspension, the Holders agree to suspend use of the applicable Prospectus in connection with any sale or purchase, or offer to sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately
notify the Holders upon the termination of any Demand Suspension, amend or supplement the Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Holders such numbers of copies of the Prospectus as so
amended or supplemented as the Holders may reasonably request. 
 (d) Underwritten Offering. The Holders acknowledge and
agree that the Demanding Majority Stockholders shall, to the extent otherwise agreed by them with the Company, have the right to select the managing underwriter or underwriters to administer any underwritten offering. 

(e) Priority of Securities Registered Pursuant to Demand Registrations. If the managing underwriter or underwriters of a proposed
Underwritten Offering of the Registrable Securities included in a Demand Registration (or, in the case of a Demand Registration not being underwritten, the Majority Stockholders), advise the Board of Directors in writing that, in its or their
opinion, the number of securities requested to be included in such Demand Registration 

  
 6 

 
exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for
the securities offered, the securities to be included in such Demand Registration (i) first, shall be allocated pro rata among the stockholders of the Company and their transferees (including the Demanding Majority Stockholder)
who are party to a stockholders agreement with the Company and that have requested to participate in such Demand Registration based on the relative number of Registrable Securities then held by each such stockholder (provided that any
securities thereby allocated to a stockholder that exceed such stockholder’s request shall be reallocated among the remaining requesting stockholders in like manner) and (ii) next, and only if all the securities referred to in clause
(i) have been included, the number of securities that the Company and any other stockholder that has a right to participate in such registration proposes to include in such Registration that, in the opinion of the managing underwriter or
underwriters (or the Majority Stockholders, as the case may be) can be sold without having such adverse effect, unless the managing underwriters require a different allocation. For purposes of any allocation pursuant to this Section 2.01(e),
all Registrable Securities held by any stockholder of the Company shall also include any Registrable Securities held by the partners, retired partners, shareholders or Affiliates of such stockholder, or the estates and family members of any such
stockholder or such partners and retired partners, any trusts for the benefit of any of the foregoing Persons and, at the election of such stockholder or such partners, retired partners, trusts or Affiliates, in each case to which any of the
foregoing shall have distributed, transferred or contributed Common Shares prior to the execution of the underwriting agreement in connection with such underwritten offering. 
 SECTION 2.02. Shelf Registration. 
 (a) Shelf Notice. Promptly upon
receipt of any request by a Majority Stockholder (or both Majority Stockholders if required by the applicable agreements between the Majority Stockholders and the Company) to file a Shelf Registration Statement or any request by a Majority
Stockholder to increase the number of its Registrable Securities registered on such Shelf Registration Statement and the determination of the applicable Majority Stockholder Shelf Registration Amount, the Company shall deliver a written notice (a
“Shelf Notice”) of any such request to all Holders specifying the Majority Stockholder Shelf Registration Amount and the Pro Ration Percentage (as defined below) and the Company shall include in such registration the number of
Registrable Securities with respect to which the Company has received written requests for inclusion therein within ten (10) Business Days after the date that the Shelf Notice has been delivered; provided, that no Holder may request the
inclusion in such Registration a percentage of such Holder’s Registrable Securities in excess of the Pro Ration Percentage. For purposes of this Section 2.02(a), the “Pro Ration Percentage” means, as of the date of
determination with respect to any particular Shelf Registration, the percentage determined by multiplying (i) 100 by (ii) a fraction, the numerator of which is the Majority Stockholder Shelf Registration Amount in effect as of such date
with respect to such Shelf Registration and the denominator of which is the aggregate number of Registrable Securities beneficially owned by the Majority Stockholders and their Affiliates as of such date. 

(b) Suspension of Registration. The Company may, upon giving prompt written notice of such action to the Holders, suspend use of
the Shelf Registration Statement 

  
 7 

 
(a “Shelf Suspension”). In the case of a Shelf Suspension, the Holders agree to suspend use of the applicable Prospectus in connection with any sale or purchase of, or offer to
sell or purchase, Registrable Securities, upon receipt of the notice referred to above. The Company shall immediately notify the Holders upon the termination of any Shelf Suspension, amend or supplement the Prospectus, if necessary, so it does not
contain any untrue statement or omission and furnish to the Holders such numbers of copies of the Prospectus as so amended or supplemented as the Holders may reasonably request. The Company agrees, if necessary, to supplement or make amendments to
the Shelf Registration Statement, if required by the registration form used by the Company for the Shelf Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated
thereunder or as may reasonably be requested by the Majority Stockholders. 
 (c) Underwritten Offering. Each Holder
acknowledges that the Demanding Majority Stockholders shall, to the extent otherwise agreed with the Company, have the right to select the managing underwriter or underwriters to administer any underwritten offering. 

SECTION 2.03. Piggyback Registration. 
 (a) Participation. If the Company at any time proposes to file a Registration Statement under the Securities Act with respect to any offering of its equity securities for its own account or for the
account of any other Persons (other than (i) in connection with an IPO (including a primary or secondary offering of Common Shares, or a combination thereof), (ii) a Registration on Form S-4 or S-8 or any successor form to such Forms,
(iii) a Registration of securities solely relating to an offering and sale to employees or directors of the Company pursuant to any employee stock plan or other employee benefit plan arrangement or (iv) a Registration under
Section 2.01 or 2.02) (a “Company Public Sale”), then, as soon as reasonably practicable, the Company shall give written notice of such proposed filing to the Holders, and such notice shall offer the Holders the opportunity to
Register under such Registration Statement such number of Registrable Securities as each such Holder may request in writing (a “Piggyback Registration”). Subject to Section 2.03(b), the Company shall include in such
Registration Statement all such Registrable Securities that are requested in writing to be included therein within fifteen (15) days after the receipt by such Holders of any such notice; provided that if at any time after giving written
notice of its intention to Register any securities and prior to the effective date of the Registration Statement filed in connection with such Registration, the Company shall determine for any reason not to Register or to delay Registration of such
securities, the Company shall give written notice of such determination to each Holder and, thereupon, (i) in the case of a determination not to Register, shall be relieved of its obligation to Register any Registrable Securities in connection
with such Registration (but not from its obligation to pay the Registration Expenses in connection therewith), and (ii) in the case of a determination to delay Registering, shall be permitted to delay Registering any Registrable Securities, for
the same period as the delay in Registering such other securities. If the offering pursuant to such Registration Statement is to be underwritten, then each Holder making a request for a Piggyback Registration pursuant to this Section 2.03(a)
must, and the Company shall make such arrangements with the managing underwriter or underwriters so that each such Holder may, participate in such Underwritten Offering. If the offering pursuant to such Registration Statement is to be on any other
basis, then each Holder making a request for a Piggyback 

  
 8 

 
Registration pursuant to this Section 2.03(a) must, and the Company shall make such arrangements so that each such Holder may, participate in such offering on such basis. Each Holder shall
be permitted to withdraw all or part of its Registrable Securities from a Piggyback Registration at any time prior to the effectiveness of such Registration Statement. 
 (b) Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of Registrable Securities included in a Piggyback Registration informs the
Company and the Holders of Registrable Securities in writing that, in its or their opinion, the number of securities which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in such offering
without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Registration shall be (i) first, 100%
of the securities proposed to be sold in such Registration by the Company proposes to sell and (ii) second, and only if all the securities referred to in clause (i) have been included, the number of Registrable Securities that, in the
opinion of such managing underwriter or underwriters, can be sold without having such adverse effect, with such number to be allocated pro rata among the stockholders of the Company and any other Person exercising a contractual right to
demand Registration that have requested to participate in such Registration based on the relative number of Registrable Securities then held by each such stockholder of the Company (provided that any securities thereby allocated to a
stockholder of the Company that exceed such stockholder’s request shall be reallocated among the remaining requesting stockholders in like manner) and (iii) third, and only if all of the Registrable Securities referred to in clause
(ii) have been included in such Registration, any other securities eligible for inclusion in such Registration, unless the managing underwriters require a different allocation. For purposes of any allocation pursuant to this
Section 2.03(b), all Registrable Securities held by any stockholder of the Company shall also include any Registrable Securities held by the partners, retired partners, shareholders or Affiliates of such stockholder, or the estates and family
members of any such stockholder or such partners and retired partners, any trusts for the benefit of any of the foregoing Persons and, at the election of such stockholder or such partners, retired partners, trusts or Affiliates, in each case to
which any of the foregoing shall have distributed, transferred or contributed Common Shares prior to the execution of the underwriting agreement in connection with such Underwritten Offering. 

SECTION 2.04. Black-out Periods. 
 (a) Black-Out Periods for Company Public Sales. In the event of a Company Public Sale of the Company’s equity securities in an Underwritten Offering, the Senior Managers agree, if requested by
the managing underwriter or underwriters in such Underwritten Offering and agreed to by both Majority Stockholders, not to effect any public sale or distribution of any securities (except, in each case, as part of the applicable Registration, if
permitted) or enter into any swap or other arrangement that transfers to another any of the economic consequences of any securities, if, in either case, such securities are the same as or similar to those being Registered in connection with such
Company Public Sale, or any securities convertible into or exchangeable or exercisable for such securities, during the period beginning seven (7) days before and ending one hundred eighty (180) days (in the event of the Company’s IPO)
or ninety (90) days (in the event of any other Company Public Sale) (or, in either case, such lesser period 

  
 9 

 
as may be permitted by the Company or such managing underwriter or underwriters) after, the effective date of the Registration Statement filed in connection with such Registration, to the extent
timely notified in writing by the Company or the managing underwriter or underwriters; provided, however, such restrictions shall not apply to (i) securities acquired in the public market subsequent to the IPO and
(ii) transfers to Affiliates but only if such Affiliates agree to be bound by the restrictions herein. 
 (b) Black-Out
Period for Other Offerings. In the case of a Registration of Registrable Securities of the sort contemplated by Section 2.01 or Section 2.02 for an Underwritten Offering, the Senior Managers agree, if requested by the participating
Majority Stockholders or the managing underwriter or underwriters with respect to such Registration, not to effect any public sale or distribution of any securities that are the same as or similar to those being Registered, or any securities
convertible into or exchangeable or exercisable for such securities, during the period beginning seven (7) days before, and ending ninety (90) days (or such lesser period as may be permitted by the participating Majority Stockholders or
such managing underwriter or underwriters) after, the effective date of the Registration Statement filed in connection with such Registration (or, in the case of an offering under a Shelf Registration Statement, the date of the closing under the
underwriting agreement in connection therewith), to the extent timely notified in writing by the Majority Stockholders or the managing underwriter or underwriters. 
 (c) Waiver. To the extent the provisions of clause (a) or (b) above are waived with respect to a given Holder or analogous provisions are waived with respect to another stockholder of the
Company who is subject to such analogous provisions, the provisions of clause (a) or (b) shall be waived for the Holders. 
 SECTION 2.05. Registration Procedures. 
 (a) In connection with the
Company’s Registration obligations under Section 2.01, Section 2.02 or Section 2.03, the Company shall use its reasonable best efforts to effect such Registration to permit the sale of such Registrable Securities in accordance
with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith, except to the extent waived by the Majority Stockholders on behalf of all stockholders registering securities in
such Registration, the Company shall: 
 (i) prepare the required Registration Statement including all exhibits
and financial statements required under the Securities Act to be filed therewith, and before filing a Registration Statement or Prospectus, or any amendments or supplements thereto, furnish to the underwriters, if any, and to Participating Holders,
copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and such Holders and their respective counsel; 
 (ii) as soon as reasonably practicable (in the case of a Demand Registration or Shelf Registration, no later than thirty (30) days after a request for a Demand Registration or Shelf Registration on
Form S-3 or ninety (90) days after a request for a Demand Registration or Shelf Registration on Form S-1) file with the SEC a Registration 

  
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Statement relating to the Registrable Securities including all exhibits and financial statements required by the SEC to be filed therewith, and use its reasonable best efforts to cause such
Registration Statement to become effective under the Securities Act as soon as practicable; 
 (iii) prepare and
file with the SEC such pre- and post-effective amendments to such Registration Statement and supplements to the Prospectus as may be (x) reasonably requested by a Sponsor, (y) reasonably requested by any other Participating Holder (to the
extent such request relates to information relating to such Holder), or (z) necessary to keep such Registration effective for the period of time required by this Agreement, and comply with provisions of the applicable securities laws with
respect to the sale or other disposition of all securities covered by such Registration Statement during such period in accordance with the intended method or methods of disposition by the sellers thereof set forth in such Registration Statement;

 (iv) notify the Participating Holders and the managing underwriter or underwriters, if any, and (if requested)
confirm such notice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (a) when the applicable Registration Statement or any amendment thereto has been
filed or becomes effective, and when the applicable Prospectus or any amendment or supplement to such Prospectus has been filed, (b) of any written comments by the SEC or any request by the SEC or any other federal or state governmental
authority for amendments or supplements to such Registration Statement or such Prospectus or for additional information, (c) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order
by the SEC or any other regulatory authority preventing or suspending the use of any preliminary or final Prospectus or the initiation or threatening of any proceedings for such purposes, (d) if, at any time, the representations and warranties
of the Company in any applicable underwriting agreement cease to be true and correct in all material respects, and (e) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable
Securities for offering or sale in any jurisdiction or the initiation or threatening of any proceeding for such purpose; 
 (v) promptly notify the Participating Holders and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable
Registration Statement or the Prospectus included in such Registration Statement (as then in effect) contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such
Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) not misleading or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement or
Prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the Participating Holders and the managing underwriter or
underwriters, if any, an amendment or supplement to such Registration Statement or Prospectus which shall correct such misstatement or omission or effect such compliance; 

  
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 (vi) use its reasonable best efforts to prevent, or obtain the withdrawal
of, any stop order or other order suspending the use of any preliminary or final Prospectus; 
 (vii) promptly
incorporate in a Prospectus supplement or post-effective amendment such information as the managing underwriter or underwriters and the Majority Stockholders agree should be included therein relating to the plan of distribution with respect to such
Registrable Securities; and make all required filings of such Prospectus supplement or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement or post-effective
amendment; 
 (viii) furnish to each Participating Holder and each underwriter, if any, without charge, as many
conformed copies as such Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by
reference and all exhibits (including those incorporated by reference); 
 (ix) deliver to each Participating
Holder and each underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Holder or underwriter may reasonably request (it being
understood that the Company consents to the use of such Prospectus or any amendment or supplement thereto by such Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities covered by such Prospectus
or any amendment or supplement thereto) and such other documents as such Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Holder or underwriter; 

(x) on or prior to the date on which the applicable Registration Statement is declared effective, use its reasonable best
efforts to register or qualify, and cooperate with the Participating Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the registration or qualification of such Registrable Securities for
offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction of the United States as any Participating Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in
writing and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for such period as agreed to with the Majority Stockholders, provided that the Company shall not be
required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject;

 (xi) cooperate with the Participating Holders and the managing underwriter or underwriters, if any, to
facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends; and enable such Registrable Securities to be in such denominations and registered in such

  
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names as the managing underwriters may request at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters; 

(xii) use its reasonable best 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 seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable
Securities; 
 (xiii) not later than the effective date of the applicable Registration Statement, provide a CUSIP
number for all Registrable Securities and 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; 

(xiv) make such representations and warranties to the Participating Holders and the underwriters or agents, if any, in
form, substance and scope as are customarily made by issuers in secondary underwritten public offerings and are being made to the Majority Stockholders; 
 (xv) enter into such customary agreements (including underwriting and indemnification agreements) and take all such other actions as the Majority Stockholders or the managing underwriter or underwriters,
if any, reasonably request in order to expedite or facilitate the registration and disposition of such Registrable Securities; 
 (xvi) obtain for delivery to the Participating Holders and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the effective date of the Registration
Statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to such Holders or underwriters, as the case
may be, and their respective counsel; 
 (xvii) in the case of an Underwritten Offering, obtain for delivery to
the Company and the managing underwriter or underwriters, with copies to the Participating Holders, a cold comfort letter from the Company’s independent certified public accountants in customary form and covering such matters of the type
customarily covered by cold comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement; 

(xviii) cooperate with each Participating Holder and each underwriter, if any, participating in the disposition of such
Registrable Securities and their respective counsel in connection with any filings required to be made with FINRA; 
 (xix) use its reasonable best efforts to comply with all applicable securities laws and make available to its security holders, as soon as reasonably practicable, an earnings

  
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statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder; 

(xx) provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the
applicable Registration Statement from and after a date not later than the effective date of such Registration Statement; 
 (xxi) use its best efforts to cause all Registrable Securities covered by the applicable Registration Statement to be listed on each securities exchange on which any of the Company’s securities are
then listed or quoted and on each inter-dealer quotation system on which any of the Company’s securities are then quoted; 
 (xxii) make available upon reasonable notice at reasonable times and for reasonable periods for inspection by the Majority Stockholders, by any underwriter participating in any disposition to be effected
pursuant to such Registration Statement and by any attorney, accountant or other agent retained by the Majority Stockholders or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the
Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all
information reasonably requested by any such Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility; provided that any such Person gaining access to
information regarding the Company pursuant to this Section 2.05(a)(xxii) shall agree to hold in strict confidence and shall not make any disclosure or use any information regarding the Company that the Company determines in good faith to be
confidential, and of which determination such Person is notified, unless (w) the release of such information is requested or required (by deposition, interrogatory, requests for information or documents by a governmental entity, subpoena or
similar process), (x) such information is or becomes publicly known other than through a breach of this or any other agreement of which such Person has knowledge, (y) such information is or becomes available to such Person on a
non-confidential basis from a source other than the Company or (z) such information is independently developed by such Person; and 
 (xxiii) in the case of an Underwritten Offering, cause the senior executive officers of the Company to participate in the customary “road show” presentations that may be reasonably requested by
the managing underwriter or underwriters in any such Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto. 

(b) The Company may require each Participating Holder to furnish to the Company such information regarding the distribution of such
securities and such other information relating to such Holder and its ownership of Registrable Securities as the Company may from time to time reasonably request in writing. Each Participating Holder agrees to furnish such information to the Company
and to cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions of this Agreement. 

  
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 (c) Each Participating Holder agrees that, upon receipt of any notice from the Company that
the Company believes that the applicable Registration Statement or the Prospectus included in such Registration Statement (as then in effect) may contain any untrue statement of a material fact or omit to state a material fact necessary to make the
statements therein (in the case of such Prospectus and any preliminary Prospectus, in light of the circumstances under which they were made) or not misleading or that the Company intends to amend or supplement such Registration Statement or
Prospectus in order to comply with the Securities Act, such Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until such Holder’s receipt of the copies of an supplemented or amended
Prospectus or until such Holder is advised in writing by the Company that the use of the Prospectus may be resumed, and if so directed by the Company, such Holder shall 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 current at the time of receipt of such notice. 
 SECTION 2.06. Underwritten Offerings. 
 (a) Demand and Shelf
Registrations. Any Holder who elects to participate in an Underwritten Offering pursuant to Section 2.01(a), Section 2.02(a) or Section 2.03(a) shall agree to be party to an underwriting agreement which shall (i) contain such
representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such Holders as are customarily made by issuers to selling stockholders in secondary underwritten public offerings, (ii) provide
that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also shall be conditions precedent to the obligations of such Holders and (iii) be negotiated by the Majority Stockholders in
the case of an Underwritten Offering arising under Section 2.01(a) or Section 2.02(a) or by the Company in the case of an Underwritten Offering arising under Section 2.03(a) on behalf of the Holders. Such Holders 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 Holders, such Holder’s title to the Registrable Securities, such Holder’s
intended method of distribution and any other representations required to be made by such Holder under applicable law, and the aggregate amount of the liability of such Holder shall not exceed the lesser of (x) such Holder’s net proceeds
from such Underwritten Offering and (y) such Holder’s pro rata portion of any such liability, in accordance with such Holder’s portion of the total number of Registrable Securities included in the offering. 

(b) Participation in Underwritten Registrations. Subject to provisions of Section 2.06(a) above, no Person may participate in
any Underwritten Offering hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Persons entitled to approve such arrangements and (ii) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 
 (c) Price and Underwriting Discounts. In the case of an Underwritten Offering under Section 2.01 or Section 2.02, the price, underwriting discount and other financial terms for the
Registrable Securities shall be determined by the Demanding Majority 

  
 15 

 
Stockholder(s) (or, in the case of a Shelf Registration, the Majority Stockholder(s) selling Registrable Securities under the Shelf Registration Statement). In addition, in the case of any
Underwritten Offering, each of the Holders may withdraw their request to participate in the Registration pursuant to Section 2.01 Section 2.02 or Section 2.03 after being advised of such price, discount and other terms and shall not
be required to enter into any agreements or documentation that would require otherwise. 
 SECTION 2.07. No Inconsistent
Agreements; Additional Rights. The Company shall not hereafter enter into, and is not currently a party to, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders by this Agreement. 

SECTION 2.08. Registration Expenses. The following expenses incident to the Company’s performance of or compliance with this
Agreement shall be paid by the Company: (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC or FINRA, (ii) all fees and expenses in connection with compliance with
any securities or “Blue Sky” laws, (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible
for deposit with The Depository Trust Company and of printing prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants of the Company (including the expenses of any special
audit and cold comfort letters required by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting
practice, (vi) all fees and expenses incurred in connection with the listing of the Registrable Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all applicable
rating agency fees with respect to the Registrable Securities, (viii) all reasonable fees and disbursements of legal counsel for each Majority Stockholder, and a single counsel for, collectively, all Holders and all other stockholders of the
Company entitled to exercise registration rights in connection with such Registration, participating in such Registration (or, in the case of a Shelf Registration, each Majority Stockholder selling Registrable Securities under the Shelf Registration
Statement), (ix) any reasonable fees and disbursements of underwriters customarily paid by issuers or sellers of securities, (x) all fees and expenses of any special experts or other Persons retained by the Company in connection with any
Registration, (xi) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), (xii) all expenses related to the “road-show” for any
underwritten offering, including all travel, meals and lodging (xiii) all other fees and disbursement customarily paid by the issuers of securities. All such expenses are referred to herein as “Registration Expenses.” The
Company shall not be required to pay underwriting discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities. 
 SECTION 2.09. Indemnification. 
 (a) Indemnification by the Company.
The Company agrees to, and to cause it subsidiaries to, jointly and severally indemnify and hold harmless, to the full extent permitted by 

  
 16 

 
law, each Holder, each member, limited or general partner thereof, each member, limited or general partner of each such member, limited or general partner, each of their respective Affiliates,
officers, directors, shareholders, employees, advisors, and agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any and all
losses, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively “Losses”)
arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities are or were Registered under the Securities Act (including any final,
preliminary or summary Prospectus contained therein or any amendment thereof or supplement thereto or any documents incorporated by reference therein) or any other disclosure document produced by or on behalf of the Company or any of its
subsidiaries including, without limitation, reports and other documents filed under the Exchange Act, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein (in the case of a Prospectus or preliminary Prospectus, in light of the circumstances under which they were made) not misleading, (iii) any violation or alleged violation by the Company or any of its subsidiaries of any federal, state,
foreign or common law rule or regulation applicable to the Company or any of its subsidiaries and relating to action or inaction in connection with any of the foregoing or (iv) any actions or inactions or proceedings in respect of the foregoing
whether or not such indemnified party is a party thereto; provided, that the Company shall not be liable to any particular indemnified party (A) to the extent that any such Loss arises out of or is based upon an untrue statement or
alleged untrue statement or omission or alleged omission made in any such Registration Statement or other document in reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in
the preparation thereof or (B) to the extent that any such Loss arises out of or is based upon an untrue statement or omission in a preliminary Prospectus relating to Registrable Securities, if a Prospectus (as then amended or supplemented)
that would have cured the defect was furnished to the indemnified party from whom the Person asserting the claim giving rise to such Loss purchased Registrable Securities at least five (5) days prior to the written confirmation of the sale of
the Registrable Securities to such Person and a copy of such Prospectus (as amended and supplemented) was not sent or given by or on behalf of such indemnified party to such Person at or prior to the written confirmation of the sale of the
Registrable Securities to such Person. This indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or
any indemnified party and shall survive the transfer of such securities by such Holder. The Company shall also indemnify underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution,
their officers and directors and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the indemnified parties. 

(b) Indemnification by the Participating Holders. Each Participating Holder agrees (severally and not jointly) to indemnify and
hold harmless, to the fullest extent permitted by law, the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act) from and against any Losses resulting from
(i) any untrue statement of a material fact in any Registration Statement under 

  
 17 

 
which such Registrable Securities were Registered under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment thereof or supplement thereto
or any documents incorporated by reference therein), or (ii) any omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus or preliminary Prospectus, in
light of the circumstances under which they were made) not misleading, in each case, to the extent, but only to the extent, that such untrue statement or omission is contained in any information furnished in writing by such Holder to the Company
specifically for inclusion in such Registration Statement and has not been corrected in a subsequent writing prior to or concurrently with the sale of the Registrable Securities to the Person asserting the claim. In no event shall the liability of
such Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder under the sale of Registrable Securities giving rise to such indemnification obligation. The Company shall be entitled to receive
indemnities from underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, to the same extent as provided above (with appropriate modification) with respect to information
furnished in writing by such Persons specifically for inclusion in any Prospectus or Registration Statement. 
 (c) Conduct
of Indemnification Proceedings. Any Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that any delay or
failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such
indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided that any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel
and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (A) the indemnifying party has agreed in writing to pay such fees or expenses, (B) the indemnifying
party shall have failed to assume the defense of such claim within a reasonable time after receipt of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (C) the
indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or
(D) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the
indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If the
indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action without the consent of the indemnified party. No indemnifying party shall consent to entry of any judgment or enter into any settlement
(x) which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation without the prior written
consent of such indemnified party or (y) which involves the imposition of equitable remedies or other imposition of any obligations on such indemnified person other than as a result of financial obligations for which such indemnified person
will be indemnified hereunder. If such defense is not assumed by the 

  
 18 

 
indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is
understood that the indemnifying party or parties shall not, except as specifically set forth in this Section 2.09(c), in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees,
disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties,
(y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties or (z) a
conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the
reasonable fees and expenses of such one additional counsel with respect to such matter or series of related matters. 
 (d)
Contribution. If for any reason the indemnification provided for in Section 2.09(a) or Section 2.09(b) is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein, then the indemnifying party
shall contribute to the amount paid or payable by the indemnified party as a result of such Loss (i) in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or
parties on the other hand in connection with the acts, statements or omissions that resulted in such losses, as well as any other relevant equitable considerations. In connection with any Registration Statement filed with the SEC by the Company, the
relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be determined by reference to, among other things, whether any 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 by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such
statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 2.09(d) were determined by pro rata allocation or by any other method of allocation that does not take
account of the equitable considerations referred to in this Section 2.09(d). 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. The amount paid or payable by an indemnified party as a result of the Losses referred to in Section 2.09(a) and Section 2.09(b) shall be deemed to include, subject to the limitations set
forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.09(d), in connection with any
Registration Statement filed by the Company, a Participating Holder shall not be required to contribute any amount in excess of the dollar amount of the net proceeds received by such Holder under the sale of Registrable Securities giving rise to
such contribution obligation less any amounts paid by such Holder pursuant to Section 2.09(b). If indemnification is available under this Section 2.09, the indemnifying parties shall indemnify each indemnified party to the full extent
provided in Section 2.09(a) and Section 2.09(b) hereof without regard to the provisions of this Section 2.09(d). The remedies provided for in this Section 2.09 are not 

  
 19 

 
exclusive and shall not limit any rights or remedies which may otherwise be available to any indemnified party at law or in equity. 

SECTION 2.10. Rules 144 and 144A and Regulation S. The Company covenants that it will file the reports required to be filed
by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the reasonable request of the Majority Stockholders, make
publicly available such necessary information for so long as necessary to permit sales pursuant to Rules 144, 144A or Regulation S under the Securities Act), and it will take such further action as the Majority Stockholders may reasonably request,
all to the extent required from time to time to enable the Holders to sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by (i) Rules 144, 144A or Regulation S under the
Securities Act, as such Rules may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the reasonable request of a Holder, the Company will deliver to such Holder a written statement as to
whether it has complied with such requirements and, if not, the specifics thereof. 
 SECTION 2.11. Illiquid Securities.
In the event that a Drag-Along Stockholder receives Illiquid Securities as proceeds in connection with a Transfer pursuant to Section 6 of the Management Stockholders Agreement, or in the event that a Tagging Stockholder receives Illiquid
Securities as proceeds in connection with a Transfer pursuant to Section 7 of the Management Stockholders Agreement, such Drag-Along Stockholder or Tagging Stockholder, as applicable, shall receive registration rights with respect to such
securities that are substantially similar to the registration rights applicable to “Registrable Securities” under this Agreement to the extent registration rights are received by the Majority Stockholders with respect to such Illiquid
Securities. 
 ARTICLE III 
 PREEMPTIVE RIGHTS 
 SECTION 3.01. Until the occurrence of an IPO, if, following
the Closing Date, the Company proposes to issue additional Common Shares to one or more of the Majority Stockholders (the “Participation Shares”), the Company shall provide written notice to each Senior Manager of such anticipated
issuance no later than fifteen (15) Business Days prior to the anticipated issuance date. Such notice shall set forth the material terms and conditions of the issuance, including the proposed purchase price for the new Participation Shares and
the anticipated issuance date. Each Senior Manager shall have the right to purchase up to its Pro Rata Portion of such new Participation Shares at the price and on the terms and conditions specified in the Company’s notice by delivering an
irrevocable written notice to the Company no later than three (3) Business Days before the anticipated issuance date, setting forth the number of such new Participation Shares for which such right is exercised. 

SECTION 3.02. In the event Senior Managers do not purchase all such new Participation Shares which they are entitled to purchase in
accordance with the procedures set forth in Section 3.01, the Company shall have sixty (60) days after the expiration of the 

  
 20 

 
anticipated issuance date to sell to other Persons the remaining new Participation Shares at the price and on the terms and conditions specified in the Company’s notice to the Senior
Managers pursuant to Section 3.01. If the Company fails to sell such Participation Shares within sixty (60) days of the anticipated issuance date provided in the notice given to the Senior Managers pursuant to Section 3.01, the
Company shall not thereafter issue or sell any Participation Shares without first offering such Participation Shares to the Senior Managers in the manner provided in Section 3.01. 

SECTION 3.03. The election by a Senior Manager not to exercise its preemptive rights under this Article III in any one instance shall not
affect its right (other than in respect of a reduction in its percentage holdings) as to any future issuances under this Article III. Any sale of Participation Shares by the Company without first giving the Senior Managers the rights described in
this Article III shall be void and of no force and effect. 
 SECTION 3.04. Notwithstanding the foregoing requirements of this
Article III, the Company may proceed with an issuance of Participation Shares prior to having complied with the provisions of Article III; provided, that the Company shall: 

(a) provide to each Senior Manager (x) prompt notice of such issuance and (y) the notice described in Section 3.01 in
which the actual price per Participation Share shall be set forth; 
 (b) offer to issue to such Senior Manager such number of
Participation Shares of the type issued in the issuance as may be requested by such Senior Manager (not to exceed the number equal to (x) the percent of such new Participation Shares that such Senior Manager would have been entitled to pursuant
to Section 3.01, multiplied by (y) the sum of (A) the number of Participation Shares included in such issuance and (B) the maximum aggregate number of Participation Shares issuable pursuant to this Section 3.04 and in
connection with the Company’s failure to comply with the preemptive rights of any other stockholders of the Company with respect to such issuance) on the same economic terms and conditions with respect to such Participation Shares as the
subscribers in the issuance received; and 
 (c) keep such offer open for a period of fifteen (15) Business Days, during
which period each such Senior Manager may accept such offer by sending a written acceptance to the Company committing to purchase an amount of Participation Shares (not in any event to exceed the number equal to (x) the percent of such new
Participation Shares that such Senior Manager would have been entitled to pursuant to Section 3.01, multiplied by (y) the sum of (A) the number of Participation Shares included in such issuance and (B) the aggregate number of
Participation Shares issued pursuant to this Section 3.04 and in connection with the Company’s failure to comply with the preemptive rights of any other stockholders of the Company with respect to such issuance). The closing of any such
transaction shall occur at such time as the Company specifies, but in any event not prior to the date that is fifteen (15) Business Days after the Company issues the notice contemplated by clause (y) of Section 3.04(a). 

  
 21 

 ARTICLE IV 
 MISCELLANEOUS 
 SECTION 4.01. Merger with Avaya. In the event of any
merger, statutory share exchange or other business combination of the Company with Avaya or any of its subsidiaries, each of the Senior Managers and Avaya (or the applicable subsidiary) shall, to the extent necessary, as they determine, execute a
registration and preemptive rights agreement with terms that are substantially equivalent to this Agreement; provided that such registration and preemptive rights agreement shall terminate upon the same terms and conditions as provided
herein. 
 SECTION 4.02. Term. This Agreement shall terminate upon the later of the expiration of the effectiveness of
any existing Shelf Registration Statement and such time as there are no Registrable Securities, except for Article III, which shall terminate upon the completion of an IPO, and the provisions of Section 2.05, Section 2.09 and all of this
Article IV, which shall survive any such termination. 
 SECTION 4.03. Injunctive Relief. It is hereby agreed and
acknowledged that it will be impossible to measure in money the damage that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an aggrieved Person will be
irreparably damaged and will not have an adequate remedy at law. Any such Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including specific performance, to
enforce such obligations, 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. 

SECTION 4.04. Attorneys’ Fees. In any action or proceeding brought to enforce any provision of this Agreement or where any
provision hereof is validly asserted as a defense, the successful party shall, to the extent permitted by applicable law, be entitled to recover reasonable attorneys’ fees in addition to any other available remedy. 

SECTION 4.05. Notices. Unless otherwise specified herein, all notices and other communications authorized or required to be given
pursuant to this Agreement shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by personal hand-delivery, by facsimile transmission, by electronic mail, by mailing the same in a sealed
envelope, registered first-class mail, postage prepaid, return receipt requested, or by air courier guaranteeing overnight delivery, sent to the Person at the address given for such Person below or such other address as such Person may specify by
notice to the Company: 
 If to the Company: 

Sierra Holdings Corp. 
 c/o Avaya Inc. 
 211 Mt. Airy Road 

  
 22 

 Basking Ridge, New Jersey 07920 

Attention: Pamela F. Craven, Chief Administrative Officer 

Telephone: 908.953.6000 
 Fax: 908.953.3902 
 If to TPG: 

TPG Capital, L.P. 
 301 Commerce Street 
 Suite 3300 

Fort Worth, Texas 76102 
 Attention: Clive D. Bode 
 Telephone: 817.871.4000 

Fax: 817.871.4001 
 If to Silver Lake: 
 Silver Lake Partners III, L.P. 

9 West 57th Street, 25th Floor 
 New York, New York 10019 
 Attention: Greg Mondre 

Telephone: 212.981.5600 
 Fax: 212.381.3535 
 If to either the Majority Stockholders, copies shall be
delivered to (which shall not constitute notice): 
 Ropes & Gray LLP 

One International Place 
 Boston, Massachusetts 02110 
 Attention: Alfred O. Rose, Esq.

 Telephone: 617.951.7372 

Fax: 617.951.7050 
 If to any other Holder who becomes party to this agreement after the date hereof, to the address on the counterpart signature page to this Agreement executed by such Holder, with a copy (which shall not
constitute notice) to: 
 Morgan Lewis & Bockius LLP 

1701 Market Street 
 Philadelphia, Pennsylvania 19103 
 Attention: Robert J.
Lichtenstein 
 Telephone: 215.963.5726 

Fax: 215.963.4815 

  
 23 

 SECTION 4.06. Amendment. Any provision of this Agreement may be amended if, and only
if, such amendment is in writing and signed by the Company and (a) in the case of an amendment to Article II, defined terms used therein, or this Article IV as it applies thereto, Holders holding a majority of the Registrable Securities then
held by all Holders, and (b) in the case of an amendment to Article III, defined terms used therein, or this Article IV as it applies thereto, Senior Managers holding a majority of the Common Shares then held by all Senior Managers. 

SECTION 4.07. Successors, Assigns and Transferees. Each party that holds Registrable Securities may assign all or a portion of its
rights hereunder to any Person to which such party transfers its ownership of all or any of such Registrable Securities, and each party that has preemptive rights pursuant to Article III hereof may assign all or a portion of its rights hereunder to
any Person to which such party transfers its ownership of all or any of its Common Shares; provided that such Registrable Securities or Common Shares, as applicable, shall be transferred in accordance with the Management Stockholders
Agreement. Such Persons and any other Person that acquires Registrable Securities pursuant to the terms of the Management Stockholders Agreement shall execute a counterpart to this Agreement and become a party hereto and such Person’s
Registrable Securities or Common Shares, as applicable, shall be subject to the terms of this Agreement. 
 SECTION 4.08.
Binding Effect. Except as otherwise provided in this Agreement, the terms and provisions of this Agreement shall be binding on and inure to the benefit of each of the parties hereto and their respective successors. 

SECTION 4.09. Third Parties. Nothing in this Agreement, express or implied, is intended or shall be construed to confer upon any
Person not a party hereto (other than each other Person entitled to indemnity or contribution under Section 2.09) any right, remedy or claim under or by virtue of this Agreement. 

SECTION 4.10. Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF. ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF THE STATE OF NEW YORK OR (TO THE
EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE U.S. DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING. 

SECTION 4.11. WAIVER OF JURY TRIAL. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY
RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT

  
 24 

 
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 4.11. 

SECTION 4.12. Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the
validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 

SECTION 4.13. Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original,
and all of which shall constitute one and the same agreement. 
 SECTION 4.14. Headings. The heading references herein
and in the table of contents hereto are for convenience purposes only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof. 

SECTION 4.15. No Third Party Liability. This Agreement may only be enforced against the named parties hereto. All claims or causes
of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any representation or warranty made in or in connection with this
Agreement or as an inducement to enter into this Agreement), may be made only against the entities that are expressly identified as parties hereto; and no past, present or future director, officer, employee, incorporator, member, partner,
stockholder, Affiliate, agent, attorney or representative of any party hereto (including any Person negotiating or executing this Agreement on behalf of a party hereto), unless party to this Agreement, shall have any liability or obligation with
respect to this Agreement or with respect any claim or cause of action (whether in contract or tort) that may arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including a representation or
warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement). 
 SECTION 4.16.
Obligations of Company. The Company shall cause its subsidiaries to be jointly and severally liable for any payment obligation of the Company pursuant to this Agreement. 
 [The remainder of this page is intentionally left blank] 

  
 25 

 IN WITNESS WHEREOF, the parties hereto have executed this Agreement as of the day and year
first above written. 
  

					
	SIERRA HOLDINGS CORP.
		
	By:	 	      /s/ Roger C. Gaston
		 	Name:	 	Roger C. Gaston
		 	Title:	 	Senior Vice President – Human Resources

 For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned Senior Manager (i) agrees as of the date hereof to become party to the Senior Manager Registration and Preemptive Rights Agreement (this “Agreement”), dated as of October 26, 2007,
by and among Sierra Holdings Corp. and the Senior Managers (defined therein) that have become and may become a party thereto from time to time in accordance with the provisions thereof and (ii) acknowledges that this signature page shall be
deemed a counterpart signature page to the Agreement effective as of the date hereof. 
  

			
	SENIOR MANAGER:
		
	By:	 	 
	Dated:	 	 

 [Senior Manager
Registration and Preemptive Rights Agreement] 

 For good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned Management Transferee (as defined in the Management Stockholders Agreement) (i) agrees as of the date hereof to become party to the Senior Manager Registration and Preemptive Rights Agreement (this
“Agreement”), dated as of October 26, 2007, by and among Sierra Holdings Corp. and the Senior Managers (defined therein) that have become and may become a party thereto from time to time in accordance with the provisions
thereof and (ii) acknowledges that this signature page shall be deemed a counterpart signature page to the Agreement effective as of the date hereof. 

 

			
	MANAGEMENT TRANSFEREE:
		
	By:	 	 
	Dated:	 	 

 [Senior Manager
Registration and Preemptive Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00190-of-00352.parquet"}]]