Document:

EX-10.15

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Exhibit 10.15 

Final Form 

OPTION TO ENTER INTO A PURCHASE
AGREEMENT 
 This Option to Enter into a Purchase Agreement (this “Agreement”) is entered into as of February 28,
2017, by and among (i) eRx Network Holdings, Inc., a Delaware corporation (“Echo Connect Holdings”), eRx Network, LLC, a Delaware limited liability company and a wholly owned subsidiary of eRx Network Holdings (“Connect
LLC”; and together with Echo Connect Holdings, the “Connect Parties”) (ii) Change Healthcare, Inc., a Delaware corporation (“Echo Holdco”), Change Healthcare Solutions, LLC, a Delaware limited liability
company (“Change Solutions” and together with Echo Holdco, the “Echo Parties”), Change Healthcare Intermediate Holdings, LLC (f/k/a PF2 NewCo Intermediate Holdings, LLC), a Delaware limited liability company
(“Change Intermediate”), Change Healthcare Holdings, LLC (f/k/a PF2 NewCo Holdings, LLC), a Delaware limited liability company (“Change Holdings”), Change Healthcare Holdings, Inc., a Delaware corporation, Change
Healthcare Operations, LLC, a Delaware limited liability company, Change Healthcare Finance, Inc., a Delaware corporation, McKesson Technologies LLC, a Delaware limited liability company, PST Services LLC, a Georgia limited liability company
(collectively and together with Echo Holdco and Change Solutions, the “Company Parties”), (iii) Blackstone Capital Partners VI L.P., Blackstone Family Investment Partnership VI L.P. and Blackstone Family Investment Partnership VI-ESC L.P. (collectively, “BX”), (iv) H&F Harrington AIV II, L.P., HFCP VI Domestic AIV, L.P., Hellman & Friedman Investors VI, L.P., Hellman & Friedman Capital Executives VI,
L.P., Hellman & Friedman Capital Associates VI, L.P. (collectively, “H&F” and together with BX, the “Sponsors”), and (v) the other equityholders of Echo Connect Holdings set forth on Schedule
I hereto and anyone who becomes an equityholder pursuant to the terms of the Echo Connect Stockholders Agreement (as defined below) (together with BX and H&F, the “Echo Shareholders”). Reference is made to the Agreement of
Contribution and Sale, dated as of June 28, 2016, by and among Change Healthcare LLC (f/k/a PF2 NewCo LLC), a Delaware limited liability company (the “Company”), Change Intermediate, Change Holdings, HCIT Holdings, Inc., a
Delaware corporation (“Echo”), Echo Holdco, the Echo Shareholders and McKesson Corporation, a Delaware corporation (“MCK”) (the “Contribution Agreement”). Capitalized terms used in this Agreement
but not otherwise defined in this Agreement have the meaning assigned to such terms in the Contribution Agreement. This Agreement will be effective with respect to the Company Parties (with the exception of the Echo Parties) upon and following
consummation of the Closing of the transactions contemplated by the Contribution Agreement. 
 In consideration of the mutual promises and covenants set
forth herein, and in consideration for the representations and warranties herein contained, the Echo Parties, the Connect Parties and each Echo Shareholder hereby agree as follows: 

 

	1.	 Option to Purchase. Change Solutions (or any Subsidiary of any Echo Party that it designates) is hereby
granted an option to purchase, at its election, all of the issued and outstanding capital stock of Echo Connect Holdings (the “Option”) on the terms set forth herein. 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	2.	 Exercise of Option. After the closing of the transactions contemplated by the Contribution Agreement
(the “Closing”) and through March 1, 2022 (the “End Date”), Change Solutions may exercise the Option at any time MCK owns (directly or indirectly) less than 5% of the equity securities in the Company (the
“Echo Option Trigger”). Change Solutions (or any Subsidiary of any Echo Party that it designates) may exercise the Option by delivering written notice (the “Option Notice”) to the Echo Shareholders and Echo Connect
Holdings of its intent to exercise the Option. 

  

	3.	 Option Mechanics. Within 20 Business Days of its receipt of the Option Notice, Echo Connect Holdings and
the Echo Shareholders will deliver to Change Solutions (or any Subsidiary of any Echo Party that it designates) a purchase agreement (the “Echo Connect Purchase Agreement”) consistent with the terms set forth herein, which Echo
Connect Holdings, the Echo Shareholders and the Echo Parties (or any designated Subsidiary of the Echo Parties) hereby covenant and agree to execute as soon as reasonably practical. 

 

	4.	 Expiration of the Option. In the event that the End Date shall have occurred with no Echo Option Trigger
having occurred or no Option Notice having been delivered pursuant to the terms hereof, the Option shall expire and be null and void and this Agreement shall terminate without further action by the parties hereto at the End Date, subject to
Section 15, unless otherwise extended in writing by each of the parties hereto. 

  

	5.	 Option Purchase Price. In consideration of its acquisition of all of the issued and outstanding capital
stock of Echo Connect Holdings pursuant to the Echo Connect Purchase Agreement, the Echo Connect Purchase Agreement will provide that Change Solutions (or any Subsidiary of any Echo Party that it designates), will pay to the Echo Shareholders at the
closing under the Echo Connect Purchase Agreement an aggregate amount equal to (i) $1.00 plus (ii) the product of (A) (y) the estimated cumulative EBITDA for the 12-month period ended at the
end of the most recent calendar month preceding the date of delivery of the Option Notice to the Echo Shareholders and Echo Connect Holdings (the “Trailing 12-month EBITDA”) of Echo
Connect Holdings and its Subsidiaries as of the closing of the Echo Connect Purchase Agreement less (z) $14,269,000 multiplied by (B) twelve (12) (the “Purchase Price”). The Purchase Price will not be subject to
an adjustment for cash, working capital or debt, but will contain a customary post-closing true-up of the estimated Trailing 12-month EBITDA compared against the actual
Trailing 12-month EBITDA consistent with that set forth in Section 2.02 of the Contribution Agreement (mutatis mutandis). Notwithstanding the first sentence of this Section 5, in the event the
Trailing 12-month EBITDA of Echo Connect Holdings and its Subsidiaries as of the closing of the Echo Connect Purchase Agreement is less than or equal to $14,269,000, the Purchase Price will be $1.00.
“EBITDA” means with respect to Echo Connect Holdings and its Subsidiaries, “EBITDA” as calculated in the Credit Agreement, dated as of March 1, 2017, among Change Healthcare Intermediate Holdings, LLC, a Delaware
limited liability company, Change Healthcare Holdings, LLC, a Delaware limited liability company, certain subsidiaries of the Parent Borrower, as Borrowers and Guarantors (each as defined therein), the Lenders (as defined therein) party thereto from
time to time, Bank of America, N.A., as Administrative Agent, Collateral Agent, Swing Line Lender and L/C Issuer and the other parties party thereto (the “Credit Agreement”) as further adjusted for (i) any synergies resulting
from Echo Connect Holdings and its Subsidiaries being integrated with Change Solutions (or any Subsidiary of any Echo Party that it designates), (ii) any run rate adjustments for cost actions already taken during the relevant period, (iii) any
direct acquisition costs, such as third-party due diligence, legal and advisory costs and (iv) any run rate adjustments for acquisitions which occurred during the relevant period. 

  
 - 2 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	6.	 Limited Terms of the Echo Connect Purchase Agreement. The only representations and warranties given by
the Echo Shareholders in the Echo Connect Purchase Agreement will be those related to organization (if applicable), authority, noncontravention of organizational documents, law or material agreements of the Person making such representation or
warranty, title (other than customary permitted liens) and no brokers. Such representations and warranties will be made by each Echo Shareholder on a several (and not joint) basis solely as to itself. The Echo Connect Purchase Agreement will not
contain any indemnification obligations on the part of any party, and the equity securities will be sold on an “as is, where is” basis (subject only to the representations and warranties set forth above) and the Echo Parties (and any of
their designees) shall acknowledge that they have not relied on any representation or warranty other than as set forth in the Echo Connect Purchase Agreement. 

 

	7.	 Representations of the Echo Shareholders and the Connect Parties. Each Echo Shareholder and each Connect
Party (severally as to itself and not jointly) hereby represents and warrants to the Echo Parties that (i) this Agreement is a valid and binding agreement of such Person, enforceable against it in accordance with its terms and (ii) as of
the date hereof, the Echo Shareholders are, and as of the date of the consummation of the Closing of the transactions under the Echo Connect Purchase Agreement will be, the only holders of capital stock in Echo Connect Holdings (other than any
Person who receives capital stock in Echo Connect Holdings pursuant to employee incentive arrangements and becomes subject to the Echo Connect Stockholders Agreement (as defined below)). 

 

	8.	 Covenants of the Echo Shareholders and the Connect Parties. 

 

	 	a.	 From the Closing through the End Date (or, if the Option is properly exercised hereunder, the effective
execution of the Echo Connect Purchase Agreement by all of the parties contemplated thereby pursuant to the terms hereof), the Connect Parties will (i) not sell, convey, transfer or encumber any material asset (or equity securities) of the
Connect Parties outside the ordinary course of business, other than to secure indebtedness for borrowed money; provided that any encumbrance of any equity securities of the Connect Parties to secure indebtedness for borrowed money shall be
made subject to the Option in all respects; and (ii) not permit any funds to leave the Connect Parties for the benefit of any Echo Shareholder other than (1) any indemnification or advancement payments owed under its organizational
agreements, any payments in accordance with any equity incentive plan or any payments pursuant to applicable law or court order or (2) any payments in the ordinary course of business provided, any such payments described in clause
(2) made for the benefit of any Echo Shareholder must be entered into on arm’s length terms and in the ordinary course of business for the purchase of materials, supplies, goods, services (excluding any employment agreements), equipment or
other assets that are generally available for purchase by business entities in the Connect Parties’ line of business on substantially similar terms from non-affiliated suppliers or providers.

  
 - 3 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	b.	 From the Closing through the End Date (or, if the Option is properly exercised hereunder, the effective
execution of the Echo Connect Purchase Agreement), each Echo Shareholder agrees (as to itself) not to transfer any capital stock in Echo Connect Holdings, other than a transfer permitted under Section 4.1 of the Echo Connect Stockholders
Agreement (as defined below) and in accordance with Section 10. 

  

	 	c.	 The Echo Shareholders and Echo Connect Holdings are party to the Stockholders Agreement of Echo Connect
Holdings set forth in Exhibit A (the “Echo Connect Stockholders Agreement”), and each Echo Shareholder will exercise (to the extent it is able) and otherwise comply with the drag-along provisions set forth in Section 4.5
thereof in connection with the valid exercise of the Option. 

  

	 	d.	 Effective as of the date of this Agreement, each of Echo Connect Holdings and Connect LLC shall amend and
restate their certificate of incorporation and certificate of formation, respectively, to include a statement in form and substance satisfactory to the Echo Parties that such entity is subject to the Option in all respects. From and after the date
of this Agreement through the End Date, the Connect Parties shall not further amend or restate their organizational documents to remove or modify the foregoing restrictive statement from their organizational documents. 

 

	 	e.	 From and after the date of this Agreement through the End Date, any certificates or other instruments issued
and outstanding representing equity securities in the Connect Parties shall be notated by the applicable Connect Party with a legend stating that any transfer of such equity securities is subject to the Option in all respects. 

 

	9.	 Publicity and Confidentiality. The Echo Parties, the Connect Parties and each Echo Shareholder shall
keep confidential this Agreement, the transactions contemplated hereby and any non-public information relating to the Connect Parties, Echo, the Company or any of their respective Subsidiaries and shall not
disclose, issue any press release or otherwise make any public statement in connection therewith (other than as may be necessary to monitor, increase or decrease its investment in the Company) without the prior written consent of the Sponsors (not
to be unreasonably withheld); provided, that such Echo Parties, the Connect Parties and each Echo Shareholder may disclose any such information (i) as has become generally available to the public, (ii) to its employees and
attorneys, accountants, consultants and other professional advisers who need to know such information, including to the extent necessary to obtain their services in connection with monitoring its investment in the Connect Parties, Echo, the Company
or any of their respective Subsidiaries, and agree to keep it confidential, (iii) to the extent required in order to comply with reporting obligations to its direct or indirect partners, members, or other equity holders (including the employees
and professional advisors of such equity holders) 

  
 - 4 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	
who have agreed (subject to customary exceptions) to keep such information confidential, (iv) to persons who have expressed a bona fide interest in becoming limited partners, members or
other equity holders of a party hereto or its related investment funds, in each case who have agreed to keep such information confidential, (v) to the extent necessary in order to comply with any law, order, regulation, ruling or stock exchange
rules applicable to such party, (vi) as may be required in connection with a registered offering, including any disclosure contemplated under the Registration Rights Agreement, (vii) to any proposed Permitted Transferee (as defined in the
Echo Connect Stockholders Agreement) of such party or any proposed transferee in any transfer in compliance with this Agreement, in each case, to the extent that that such transferee agrees to be bound by customary confidentiality provisions with
respect to any confidential information of the Connect Parties, Echo, the Company and any of their respective Subsidiaries and/or (viii) in response to any summons or subpoena or in connection with any litigation, it being agreed that, unless
such information has been generally available to the public, if such information is being requested pursuant to a summons or subpoena or a discovery request in connection with a litigation, (x) the Echo Parties, the Connect Parties and each
Echo Shareholder shall, to the extent permitted by applicable law, give the other party(ies) notice of such request and shall cooperate with the other party(ies) at their request so that such party may, at its cost and in its discretion, seek a
protective order or other appropriate remedy, if available, and (y) in the event that such protective order is not obtained (or sought by the other party after notice), such disclosing party (a) shall furnish only that portion of the
information which, in accordance with the advice of counsel, is legally required to be furnished and (b) will exercise its reasonable efforts to obtain assurances that confidential treatment will be accorded such information. Nothing contained
herein shall prevent the use (subject, to the extent practicable, to a protective order) of any such confidential information in connection with the assertion or defense of any claim; provided, further that nothing in this
Section 9 shall be deemed to restrict any party’s ability to monetize its equity investment in of in compliance with applicable securities laws. Notwithstanding anything in this Section 9 to the contrary, each of the Echo Parties, the
Connect Parties and each Echo Shareholder acknowledges and agrees (a) to be bound by the confidentiality provisions of the LLC Agreement (as defined in the Echo Connect Stockholders Agreement) with respect to any confidential information of the
Company or its Subsidiaries, and if any provision herein is in conflict with the confidentiality provisions of the LLC Agreement (as defined in the Echo Connect Stockholders Agreement), than the more restrictive provision on such Echo Parties, the
Connect Parties and each Echo Shareholder shall govern with respect to confidential information about the Company and its Subsidiaries and (b) that each other party may develop or receive from third parties information that is the same as or
similar to the confidential information of Connect Parties, Echo, the Company or any of their respective Subsidiaries, and that nothing in this Agreement restricts or prohibits any party (by itself or through a third party) from developing,
receiving or disclosing such information, or any products, services, concepts, ideas, systems or techniques that are similar to or compete with the products, services, concepts, ideas, systems or techniques contemplated by or embodied in the
confidential information of Connect Parties, Echo, the Company or any of their respective Subsidiaries. 

  
 - 5 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	10.	 No Assignment; Additional Echo Shareholders. No party hereto will have the right to sell, transfer,
assign or pledge all or any portion of its interest in this Agreement without the prior written approval of the other parties hereto; provided, however, that each Echo Shareholder may sell, transfer, assign or pledge all or any of its
rights hereunder in connection with any Transfer permitted under the Echo Connect Stockholders Agreement, provided that such transferee executes a joinder to this Agreement as a party hereto. Pursuant to the terms of the Echo Connect
Stockholders Agreement and prior to expiration of this Agreement pursuant to Section 4, Echo Connect Holdings will not issue any additional Equity Interests (as defined in the Echo Connect Stockholders Agreement) to any Person that has not
executed and delivered a joinder to this Agreement as a party hereto. 

  

	11.	 Governing Law. This Agreement and any related dispute shall be governed by and construed in accordance
with the laws of the State of Delaware, without regard to any choice of law provisions that would result in the application of the laws of any other state. 

  

	12.	 Jurisdiction; Venue; Service of Process. Each of the parties to this Agreement (i) hereby
irrevocably submits to the exclusive jurisdiction of the courts of the state of Delaware or (to the extent subject matter jurisdiction exists therefor) the United States District Court for the district of Delaware for the purpose of any action or
proceeding against the parties related in any way to this Agreement, (ii) hereby waives, to the extent not prohibited by applicable law, and agrees not to assert, by way of motion, as a defense or otherwise, in any such action, any claim that
is not subject personally to the jurisdiction of the above-named courts that its property is exempt or immune from attachment or execution, that any such action brought in one of the above-named courts should be dismissed on grounds of forum non
conveniens, should be transferred or removed to any court other than one of the above-named courts, or should be stayed by reason of the pendency of some other action in any other court other than one of the above-named courts or that this
Agreement or the subject matter hereof or thereof may not be enforced in or by such court and (iii) hereby agrees not to commence any such action other than before one of the above-named courts. ANY ACTIONS OR PROCEEDINGS TO ENFORCE A JUDGMENT
ISSUED BY ONE OF THE ABOVE-NAMED COURTS MAY BE ENFORCED IN ANY JURISDICTION. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, EACH OF THE PARTIES HERETO HEREBY KNOWINGLY AND VOLUNTARILY WAIVES AND AGREES NOT TO ASSERT (WHETHER AS PLAINTIFF,
DEFENDANT OR OTHERWISE) ANY RIGHT TO TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING, DIRECTLY OR INDIRECTLY, ANY MATTERS WITH RESPECT TO THIS AGREEMENT OR ANY ALL ACTIONS OR PROCEEDINGS (WHETHER SOUNDING IN TORT, CONTRACT OR OTHERWISE) IN ANY
WAY ARISING OUT OF, RELATED TO, OR CONNECTED WITH THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY OR THE RELATIONSHIP ESTABLISHED HEREUNDER. A COPY OF THIS PARAGRAPH MAY BE FILED WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY AND BARGAINED-FOR AGREEMENT IRREVOCABLY TO WAIVE THE RIGHT TO TRIAL BY JURY IN ANY SUCH ACTION AND THAT SUCH ACTION WILL INSTEAD BY TRIED BY A JUDGE SITTING WITHOUT A JURY. Each party hereto hereby (a) consents to
service of process in any action between the parties arising in whole or in part under or in connection with this Agreement in any manner permitted by Delaware law, (b) agrees that service of process made in accordance with clause (a) or
made by 

  
 - 6 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	
registered or certified mail, return receipt requested, at its address specified pursuant to Section 18, will constitute good and valid service of process in any such action and
(c) waives and agrees not to assert (by way of motion, as a defense, or otherwise) in any such action any claim that service of process made in accordance with clause (a) or (b) does not constitute good and valid service of process.

  

	13.	 Specific Performance. Each of the parties hereto acknowledges and agrees that each of the other parties
hereto would be damaged irreparably in the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached or violated. Accordingly, each of the parties hereto agrees that, without
posting bond or other undertaking, each of the other parties hereto will be entitled to an injunction or injunctions to prevent breaches or violations of the provisions of this Agreement and to enforce specifically this Agreement and the terms and
provisions hereof in any claim instituted in any court specified in clause (a) of Section 11 in addition to any other remedy to which he, she or it may be entitled, at law or in equity. Each of the parties hereto further agrees that, in
the event of any action for specific performance in respect of such breach or violation, he, she or it will not assert the defense that a remedy at law would be adequate. 

 

	14.	 Miscellaneous. No amendment, termination or waiver of any provision of this Agreement will be valid and
binding unless it is in writing and signed, in the case of an amendment or termination, by each of the parties hereto, or in the case of a waiver, by the party hereto against whom the waiver is to be effective. No waiver by any party hereto of any
breach or violation of, default under or inaccuracy in any representation, warranty, covenant or agreement hereunder, whether intentional or not, will be deemed to extend to any prior or subsequent breach, violation, default of or inaccuracy in any
representation, warranty, covenant or agreement hereunder or affect in any way any rights arising by virtue of any prior or subsequent occurrence. No delay or omission on the part of any party hereto in exercising any right, power or remedy under
this Agreement will operate as a waiver thereof. Nothing in this Agreement, express or implied, is intended to confer, nor shall anything herein confer, on any person other than the parties hereto, and their respective successors or permitted
assigns, any rights, remedies, obligations or liabilities. Subject to the terms and conditions contained herein, each party hereto shall, upon the request from time to time of the Connect Parties or the Echo Parties and without further
consideration, do, execute and perform all such other acts, deeds and documents as may be reasonably requested by the Connect Parties or the Echo Parties to carry out fully the purposes and intent of this Agreement. 

 

	15.	 Effect of Termination. In the event of the termination of the Option pursuant to Section 4, other
than the provisions of Sections 9 (Confidentiality), 11 (Governing Law), 12 (Jurisdiction; Venue; Service of Process), 13 (Specific Performance), 14 (Miscellaneous), 16 (Entire Agreement), 17 (Counterparts), 18 (Notices) and this Section 15
(Effect of Termination), which shall survive such termination, this Agreement shall then be null and void and have no further force and effect and all other rights and liabilities of the parties hereto hereunder shall terminate without any liability
of any party hereto to any other party hereto other than liability with respect to breaches of this Agreement occurring prior to such termination. 

  
 - 7 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	16.	 Entire Agreement. This Agreement, together with the documents explicitly referred to herein, constitutes
the entire agreement among the parties hereto with respect to the subject matter hereof and supersedes any and all prior discussions, negotiations, proposals, undertakings, understandings and agreements, whether written or oral, with respect
thereto. 

  

	17.	 Counterparts. This Agreement may be executed in any number of counterparts, each of which will be deemed
an original, but all of which together will constitute but one and the same instrument. 

  

	18.	 Notices. All notices, requests, claims, demands and other communications under 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 delivery in person, by overnight courier service, by email or facsimile with receipt confirmed or by registered or certified mail (postage
prepaid, return receipt requested) to the respective parties at the following addresses: 

 If to Echo Connect Holdings or
an Echo Shareholder: 
 c/o The Blackstone Group 

345 Park Avenue 
 New York, New
York 10154 
 Attention:         John G. Finley 

Facsimile:         (212) 583-5749 

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

Ropes & Gray LLP 
 The
Prudential Tower 
 800 Boylston Street 

Boston, Massachusetts 02119 

Attention:         R. Newcomb Stillwell 

Facsimile:         (617) 235 0213 

and 
 Ropes & Gray LLP

 Three Embarcadero Center 

San Francisco, CA 94111-4006 

Attention:         Jason Freedman 

Facsimile:         (415) 315-4876 

If to the Echo Parties, to: 

Change Healthcare, Inc. 
 3055
Lebanon Pike, Suite 1000 
 Nashville, Tennessee 37214 

Attention:         General Counsel 

Facsimile:         (615) 340-6153 

  
 - 8 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 with a copy to: 

Ropes & Gray LLP 
 The
Prudential Tower 
 800 Boylston Street 

Boston, Massachusetts 02119 

Attention:         R. Newcomb Stillwell 

Facsimile:         (617) 235 0213 

and 
 Davis Polk &
Wardwell LLP 
 1600 El Camino Real 

Menlo Park, CA 94025 
 Attention:
        Alan F. Denenberg 
 Facsimile:         (650)
752-2004 
 Each of the parties to this Agreement may specify different address or facsimile number by giving notice in accordance with this
Section 18 to each of the other parties hereto. 
  

	19.	 Severability. In the event that any provision of this Agreement shall be invalid, illegal or
unenforceable, all other provisions of this Agreement will nevertheless remain in full force and effect. Upon such determination that any provision of this Agreement is invalid, illegal or unenforceable, the parties hereto will negotiate in good
faith to modify this Agreement so as to achieve the original intent of the parties. 

  

	20.	 The Company Parties. The Company Parties hereby agree that each of the Company Parties will be jointly
and severally liable for any payment obligations of the Echo Parties contained in this Agreement. 

  

	21.	 Construction. The meanings of defined terms are equally applicable to the singular and plural forms of
the defined terms. 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 and section references are to
this Agreement unless otherwise specified. The term “including” is not limiting and means “including without limitation.” The captions and headings of this Agreement are for convenience of reference only and shall not affect the
interpretation of this Agreement. References to Articles, Sections and Exhibits are to Articles, Sections and Exhibits of this Agreement unless otherwise specified. Whenever the context requires, any pronouns used herein shall include the
corresponding masculine, feminine or neuter forms. The parties have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intent or interpretation arises, this Agreement shall be construed
as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this Agreement. 

  
 - 9 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 [SIGNATURE PAGE FOLLOWS] 

  
 - 10 - 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement as an agreement under
seal as of the date first above written. 
  

							
	ECHO	 		 		 	
			
		 		 	HCIT HOLDINGS, INC.
				
		 		 	By:	 	 /s/ Gregory T. Stevens

		 		 	Name:	 	Gregory T. Stevens
		 		 	Title:	 	President and Treasurer
				
	SOLUTIONS	 		 		 	
			
		 		 	CHANGE HEALTHCARE SOLUTIONS, LLC
				
		 		 	By:	 	 /s/ Gregory T. Stevens

		 		 	Name:	 	Gregory T. Stevens
		 		 	Title:	 	Secretary
				
	COMPANY PARTIES	 		 		 	
			
		 		 	CHANGE HEALTHCARE LLC
				
		 		 	By:	 	 /s/ Gregory T. Stevens

		 		 	Name:	 	Gregory T. Stevens

		 		 	Title:	 	Co-President and Co-Secretary
				
		 		 	By:	 	 /s/ John Saia

		 		 	Name:	 	John Saia

		 		 	Title:	 	Co-President and Co-Secretary

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
			
	CHANGE HEALTHCARE INTERMEDIATE HOLDINGS, LLC

 
			
		
	By:	 	 /s/ Gregory T. Stevens

			
	Name:	 	Gregory T. Stevens

	Title:	 	Co-President and Co-Secretary

 
			
		
	By:	 	 /s/ John Saia

 
			
	Name:	 	John Saia

	Title:	 	Co-President and Co-Secretary
	
	CHANGE HEALTHCARE HOLDINGS, LLC

 
			
		
	By:	 	 /s/ Gregory T. Stevens

			
	Name:	 	Gregory T. Stevens

	Title:	 	Co-President and Co-Secretary

 
			
		
	By:	 	 /s/ John Saia

 
			
	Name:	 	John Saia
	Title:	 	Co-President and Co-Secretary
	
	CHANGE HEALTHCARE FINANCE, INC.

 
			
		
	By:	 	 /s/ Gregory T. Stevens

			
	Name:	 	Gregory T. Stevens

	Title:	 	Co-President and Treasurer

 
			
		
	By:	 	 /s/ John Saia

 
			
	Name:	 	John Saia

	Title:	 	Co-President and Secretary
	
	CHANGE HEALTHCARE OPERATIONS, LLC

 
			
		
	By:	 	 /s/ Gregory T. Stevens

			
	Name:	 	Gregory T. Stevens
	Title:	 	Secretary

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
			
	CHANGE HEALTHCARE INTERMEDIATE HOLDINGS, INC.
		
	By:	 	 /s/ Gregory T. Stevens

	Name:	 	Gregory T. Stevens
	Title:	 	General Counsel and Secretary
	
	CHANGE HEALTHCARE HOLDINGS, INC.
		
	By:	 	 /s/ Gregory T. Stevens

	Name:	 	Gregory T. Stevens
	Title:	 	General Counsel and Secretary
	
	CHANGE HEALTHCARE, INC.
		
	By:	 	 /s/ Gregory T. Stevens

	Name:	 	Gregory T. Stevens
	Title:	 	General Counsel and Secretary

 ECHO SHAREHOLDERS 
  

							
	BLACKSTONE	 		 	                                     
               	 	 BLACKSTONE CAPITAL PARTNERS VI L.P.
  

By: Blackstone Management Associates VI L.L.C., its general partner
  

By: BMA VI L.L.C., its sole member
  

By: /s/ Neil
Simpkins                                        

 Name: Neil Simpkins
 Title: Senior Managing
Director

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

									
		  		  		  	 BLACKSTONE FAMILY INVESTMENT PARTNERSHIP VI L.P.

				
		  		  		  	 By: BCP VI Side-By-Side GP L.L.C., its general partner

					
		  	        	  	        	  	By:	  	 /s/ Neil Simpkins

		  		  		  	Name: Neil Simpkins
		  		  		  	Title: Senior Managing Director
				
		  		  		  	BLACKSTONE FAMILY INVESTMENT PARTNERSHIP VI-ESC L.P.
				
		  		  		  	By: BCP VI Side-By-Side GP L.L.C., its general partner
					
		  		  		  	By:	  	 /s/ Neil Simpkins

		  		  		  	Name: Neil Simpkins
		  		  		  	Title: Senior Managing Director
				
		  		  		  	BLACKSTONE EAGLE PRINCIPAL TRANSACTION PARTNERS L.P.
				
		  		  		  	By: Blackstone Management Associates VI L.L.C., its general partner
				
		  		  		  	By: BMA VI L.L.C., its sole member
					
		  		  		  	By:	  	 /s/ Neil Simpkins

		  		  		  	Name: Neil Simpkins
		  		  		  	Title: Senior Managing Director
			
	GSO	  		  	GSO COF FACILITY LLC
			
		  		  	By: GSO Capital Partners LP, its Collateral Manager
				
		  		  	By:	  	 /s/ Marisa Beeney

		  		  	Name: Marisa Beeney
		  		  	Title: Authorized Person
				
	HELLMAN & FRIEDMAN	  		  		  	H&F HARRINGTON AIV II, L.P.
				
		  		  		  	By: Hellman & Friedman Investors VI, L.P., its general partner
				
		  		  		  	By: Hellman & Friedman LLC, its general partner
					
		  		  		  	By:	  	 /s/ P. Hunter Philbrick

		  		  		  	Name: P. Hunter Philbrick
		  		  		  	Title: Managing Director

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

			
	
	HFCP VI DOMESTIC AIV, L.P.
	
	By: Hellman & Friedman Investors VI, L.P., its general partner
	
	By: Hellman & Friedman LLC, its general partner
		
	By:	 	 /s/ P. Hunter Philbrick

	Name: P. Hunter Philbrick
	Title: Managing Director
	
	HELLMAN & FRIEDMAN INVESTORS VI, L.P.
	
	By: Hellman & Friedman LLC, its general partner
		
	By:	 	 /s/ P. Hunter Philbrick

	Name: P. Hunter Philbrick
	Title: Managing Director
	
	HELLMAN & FRIEDMAN CAPITAL EXECUTIVES VI, L.P.
	
	By: Hellman & Friedman Investors VI, L.P., its general partner
	
	By: Hellman & Friedman LLC, its general partner
		
	By:	 	 /s/ P. Hunter Philbrick

	Name: P. Hunter Philbrick
	Title: Managing Director

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

									
				
		 		  		  	HELLMAN & FRIEDMAN CAPITAL ASSOCIATES VI, L.P.
				
		 		  		  	By: Hellman & Friedman Investors VI, L.P., its general partner
				
		 		  		  	By: Hellman & Friedman LLC, its general partner
					
		 		  		  	By:	  	 /s/ P. Hunter Philbrick

		 		  		  	Name: P. Hunter Philbrick
		 		  		  	Title: Managing Director
				
	ECHO CONNECT HOLDINGS	 	        	  		  	
			
		 		  	ERX NETWORK HOLDINGS, INC.
				
		 		  	By:	  	 /s/ Colin Ford

		 		  	Name: Colin Ford
		 		  	Title: Vice President and General Counsel
			
	ECHO CONNECT LLC	 		  	
			
		 		  	ERX NETWORK, LLC
				
		 		  	By:	  	 /s/ Colin Ford

		 		  	Name: Colin Ford
		 		  	Title: Vice President and General Counsel

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
			
	PST SERVICES LLC
		
	By:	 	 /s/ John Saia

	Name: John Saia
	Title: Vice President and Secretary
	
	MCKESSON TECHNOLOGIES LLC
		
	By:	 	 /s/ John Saia

	Name: John Saia
	Title: Vice President and Secretary

 [Signature Page – eRx Purchase Option Agreement] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Daniel Lieber

	Name: Daniel Lieber
	
	Dated: February 14, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Derek C. Woo

	Name: Derek C. Woo
	
	Dated: February 13, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Gregory Cohen

	Name: Gregory Cohen
	
	Dated: February 16, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Gregory Luff

	Name: Gregory Luff
	
	Dated: February 17, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Howard L. Lance

	Name: Howard L. Lance
	
	Dated: February 14, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ James Dalen

	Name: James Dalen
	
	Dated: February 11, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Jared Sokolsky

	Name: Jared Sokolsky
	
	Dated: February 15, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Kevin C. Barrett

	Name: Kevin C. Barrett
	
	Dated: February 15, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Kriten Joshi

	Name: Kriten Joshi
	
	Dated: February 14, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Lisa M. DiSalvo

	Name: Lisa M. DiSalvo
	
	Dated: February 10, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Neil de Crescenzo

	Name: Neil de Crescenzo
	
	Dated: February 20, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Philip M. Pead

	Name: Philip M. Pead
	
	Dated: February 10, 2017
	
	Address for notices:
	
	    [Address]                               
                                         
      
	
	  

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Counterpart Signature Page 

The undersigned hereby agrees to join, become a party to and be bound by, as an “Echo Shareholder” of eRx Network Holdings, Inc.
(“eRx Network”), the Option to Enter into a Purchase Agreement dated as of February 28, 2017 by and among the holders of the eRx Network outstanding shares, as the same may be in effect from time to time (the “eRx
Network Option Agreement”). Capitalized terms not otherwise defined herein shall have the meaning ascribed to them in the eRx Network Option Agreement. 
  

	
	 /s/ Sophia Kim

	Name: Sophia Kim
	
	Dated: February 10, 2017
	
	Address for notices:
	
	    [Address]EX-10.17

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 Exhibit 10.17 

Execution Version 

AMENDED AND RESTATED 

LETTER AGREEMENT 

RELATING TO 
 AGREEMENT OF
CONTRIBUTION AND SALE 
 THIS AMENDED AND RESTATED LETTER AGREEMENT (this “Letter Agreement”) is dated as of
September 28, 2018, by and between McKesson Corporation, a Delaware corporation (“MCK”), PF2 IP LLC, a Delaware limited liability company (“MCK IPCo”), PF2 PST Services Inc., a Delaware corporation
(“PST”, and together with MCK IPCo, the “MCK Members”), HCIT Holdings, Inc., a Delaware corporation (“Echo”), Change Healthcare LLC (f/k/a PF2 NewCo LLC), a Delaware limited liability company (the
“Company”), and Change Healthcare Holdings, LLC (the “Parent Borrower”). MCK, the MCK Members, Echo, the Company, and the Parent Borrower, together, are referred to herein as the “Parties”. 

WHEREAS, the Parties have entered into that certain Agreement of Contribution and Sale (the “Contribution Agreement”),
dated June 28, 2016, pursuant to which each of MCK and the Echo Shareholders have agreed to contribute or sell (or agreed to cause to be contributed or sold) certain equity interests, assets, properties and businesses to the Company as set
forth therein; 
 WHEREAS, capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the
Contribution Agreement; 
 WHEREAS, pursuant to the Contribution Agreement, MCK has agreed to cause MCK IPCo to transfer to the
Company, and the Company has agreed to accept from MCK IPCo, the MCK IPCo Owned Intellectual Property on the terms and subject to the conditions set forth in the Contribution Agreement; 

WHEREAS, the Parties desire to memorialize their understanding regarding certain tax matters related to the MCK IPCo Owned Intellectual
Property; 
 WHEREAS, the Parties entered into an initial Letter Agreement Relating to Agreement of Contribution and Sale, dated
March 1, 2017 (the “Initial Letter Agreement”); and 
 WHEREAS, the Parties desire to amend and restate the
Initial Letter Agreement to make modifications hereinafter set forth; 
 NOW THEREFORE, in consideration of the premises and for good
and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby amend and restate the Initial Letter Agreement in its entirety to read as follows: 

 

	1.	 Amortization of MCK IPCo Owned Intellectual Property: The Parties hereby acknowledge and agree that the
Company has filed, and shall continue to file, its U.S. federal (and applicable state and local) income Tax Returns in accordance with the position that the MCK IPCo Owned Intellectual Property is properly amortizable by the Company for U.S. federal
(and applicable state and local) income Tax purposes 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	
over a useful life of 36 months rather than 15 years (the “3-Year Position”), provided that in the event of a Relevant Proceeding, the
Company shall file its U.S. federal (and applicable state and local) Tax Returns in accordance with Section 4 hereof and in accordance with any Final Determination resulting from such Relevant Proceeding. 

 

	2.	 Indemnification: 

 

	 	a.	 [reserved] 

  

	 	b.	 Indemnification. In furtherance of the general intent of the Parties: 

 

	 	i.	 MCK hereby agrees to indemnify and hold Echo and its respective Subsidiaries (other than the Company and its
Subsidiaries) harmless from (A) any income Taxes relating to the 3-Year Position that would not have been incurred had the 3-Year Position been upheld in its
entirety, in the event of any Final Determination with respect to the 3-Year Position other than a Final Determination that is consistent in its entirety with the 3-Year
Position, and (B) any reasonable third-party expenses actually incurred by Echo or its Subsidiaries (other than the Company and its Subsidiaries) in the prosecution or defense of any audit, proposed adjustment or deficiency, assessment, claim,
suit or other Tax proceeding, in each case to the extent relating to the 3-Year Position. MCK shall discharge its obligation under this clause (i) within thirty (30) Business Days of demand therefor;
provided that if Echo reasonably expects a required payment by Echo or its Subsidiaries to come due that will give rise to a payment by MCK under this clause (i) and Echo notifies MCK of such Echo (or Subsidiary) required payment at least
fifteen (15) Business Days in advance of such required payment, then MCK shall make the corresponding payment under this clause (i) at least five (5) Business Days in advance of such Echo (or Subsidiary) required payment .

  

	 	ii.	 Except as expressly provided in paragraph 3(b), MCK shall not be entitled to any payment from the other Parties
under this Letter Agreement for Tax benefits in respect of the MCK IPCo Owned Intellectual Property, and the extent of its entitlements, if any, in respect thereof shall instead be governed exclusively by the MCK Tax Receivable Agreement.

  

	 	iii.	 MCK hereby agrees to indemnify and hold the Company and its Subsidiaries harmless from (A) any income
Taxes relating to the 3-Year Position that would not have been incurred had the 3-Year Position been upheld in its entirety, in the event of any Final Determination with
respect to the 3-Year Position other than a Final Determination that is consistent in its entirety with the 3-Year Position, and (B) any reasonable third-party
expenses actually incurred by the Company or its Subsidiaries in the prosecution or 

  

  
 2 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	defense of any audit, proposed adjustment or deficiency, assessment, claim, suit or other Tax proceeding, in each case to the extent relating to the 3-Year Position. MCK shall
discharge its obligation under this clause (iii) within thirty (30) Business Days of demand therefor; provided that if the Company reasonably expects a required payment by the Company or its Subsidiaries to come due that will give rise to
a payment by MCK under this clause (iii) and the Company notifies MCK of such Company (or Subsidiary) required payment at least fifteen (15) Business Days in advance of such required payment, then MCK shall make the corresponding payment
under this clause (iii) at least five (5) Business Days in advance of such Company (or Subsidiary) required payment. 

  

	 	iv.	 [reserved] 

  

	 	v.	 In the event that the Company would otherwise be liable for the payment of an “imputed underpayment”
under Section 6225 of the Code as in effect for tax years beginning after December 31, 2017 (or any similar payment under state law or successor law) in respect of adjustments to depreciation or amortization deductions taken by the Company
in accordance with the 3-Year Position, the Parties shall take (and MCK and Echo shall cause their respective Subsidiaries to take) such actions as they are permitted to take pursuant to Section 6225(c)
of the Code as so in effect (and any similar provision of state law or successor law) to reduce the amount of such “imputed underpayment” (or similar payment). For the avoidance of doubt, references to “income Taxes” in this
Letter Agreement shall include without limitation any interest, penalty, addition to tax or additional amount, “imputed underpayment” under Section 6225 of the Code as in effect for tax years beginning after December 31, 2017, as
well as similar payments under state law or successor law, and interest and penalties payable pursuant to Section 6233 of the Code as in effect for tax years beginning after December 31, 2017, and payment obligations imposed on Echo or any
of its Subsidiaries as a result of the actions of the Parties contemplated by this clause (v) of paragraph 2(b), in each case with respect to income Taxes. 

 

	 	vi.	 Any payment required under this paragraph 2 that is not made on or before the date it is due shall bear
interest at the rate equal to LIBOR plus 500 basis points for the period from and including the date immediately following the due date through and including the date of payment. Payments shall be deemed made when received. “LIBOR” means
during any period, an interest rate per annum equal to the one-year LIBOR reported, on the date two days prior to the first day of such period, on the Telerate Page 3750 (or if such screen shall cease to be
publicly available, as reported on Reuters Screen page “LIBOR01” or by any other publicly available source of such market rate) for London interbank offered rates for United States dollar deposits for such period. 

  
 3 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	vii.	 [reserved] 

  

	 	viii.	 Notwithstanding anything to the contrary in this paragraph 2 or paragraph 3(b), appropriate adjustments shall
be made to the application of the foregoing provisions of this paragraph 2(b) to ensure that Echo retains, on a cumulative basis, any cash tax savings it actually realizes (or, in the event of any Final Determination with respect to the 3-Year Position other than a Final Determination that is consistent in its entirety with the 3-Year Position, then the cash tax savings that it would have actually realized
under the 3-Year Position) as a result of its utilization of the Echo Retained Deductions (as defined below). 

  

	 	c.	 c. [reserved] 

  

	3.	 Tax Distributions; Allocation Adjustments:  

 

	 	a.	 The Parties shall cause the LLC Agreement to be amended (it being understood that if for any reason the Parties
do not so cause the LLC Agreement to be so amended the LLC Agreement shall be deemed to be so amended) such that, in the event of a Final Determination that the 3-Year Position was incorrect, distributions
shall be made (or a Tax Distribution Arrearage, as defined in the LLC Agreement, shall be created or increased) pursuant to Section 8.02(a) of the LLC Agreement (including, for the avoidance of doubt, for purposes of determining the amount of
any Covered Tax Distribution as defined in the Tax Matters Agreement) in respect of such Final Determination only to the extent that the effect of such Final Determination is to cause any member of the Company (and its predecessors in interest) to
have received cumulative distributions (or the creation of or 

  

  
 4 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	increase in a Tax Distribution Arrearage) under Section 8.02(a) of the LLC Agreement that are less than (i) the cumulative net taxable income allocated to such member (and its predecessors), giving effect to
such Final Determination, multiplied by (ii) an appropriate average, weighted in accordance with the relative amounts of net taxable income allocated to such member (and its predecessors) for each applicable Tax Year (as defined in the
LLC Agreement), of the Applicable Tax Rates for the Tax Years (each as defined in the LLC Agreement) to which such Final Determination relates. 

For this purpose, “Final Determination” means (i) with respect to federal income Taxes, (A) a
“determination” as defined in Section 1313(a) of the Code (including, for the avoidance of doubt, an executed IRS Form 906) or (B) the execution of an IRS Form 870-AD (or any successor form
thereto), as a final resolution of Tax liability for any Taxable period, except that a Form 870-AD (or successor form thereto) that reserves the right of the taxpayer to file a claim for refund or the right of
the IRS to assert a further deficiency shall not constitute a Final Determination with respect to the item or items so reserved; (ii) with respect to Taxes other than federal income Taxes, any final determination of liability in respect of a
Tax that, under applicable Tax law, is not subject to further appeal, review or modification through proceedings or otherwise; or (iii) with respect to any Tax, any final disposition by reason of the expiration of the applicable statute of
limitations (giving effect to any extension, waiver or mitigation thereof). 
  

	 	b.	 The Parties hereby agree that, except as otherwise expressly provided with respect to the Echo Retained
Deductions, (i) MCK may adjust the manner in which depreciation or amortization deductions in respect of the MCK IPCo Owned Intellectual Property are allocated among the members of the Company for any taxable period during any part of which MCK
owns, directly or indirectly, at least 20% of the total outstanding equity interests in the Company, and (ii) Echo shall (and shall cause its Affiliates to) consent to, and execute, such amendments to the LLC Agreement as may be required to
give effect to any such adjustment (it being understood that if Echo and its Affiliates do not consent to, and execute such amendments, they shall be deemed to have consented to, and executed such amendments); provided, that Echo (or members
of an Echo Tax Group) shall be allocated no fewer than the Echo Retained Deductions; and provided, further, that, subject to the right of Echo (or members of an Echo Tax Group) to be allocated the Echo Retained Deductions and without
reducing the amount of the deductions that are so allocated, (A) PST shall be allocated, for the Tax Year (as defined in the LLC Agreement) ending on March 31, 2019, depreciation or amortization deductions in respect of the MCK IPCo Owned
Intellectual Property in an amount at least equal to the lesser of (x) $75 million and (y) PST’s allocable share of the net taxable income and gain of the Company for such Tax Year (as determined before giving effect to any allocation
of depreciation and amortization deductions in respect of the MCK IPCo Owned Intellectual Property for such Tax Year), and (B) an amount of depreciation or 

  
 5 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	amortization deductions in respect of the MCK IPCo Owned Intellectual Property equal to the excess, if any, of (x) $75 million over (y) the amount of such depreciation or amortization deductions that are
allocated to PST for the Tax Year (as defined in the LLC Agreement) ending on March 31, 2019 pursuant to the preceding clause (A), shall be allocated, until such excess is exhausted, as between PST and MCK IPCo with respect to any subsequent
Tax Year or portion thereof during which MCK owns, directly or indirectly, at least 20% of the total outstanding equity interests in the Company, so as to minimize the amount of distributions that are required under Section 8.02(a) of the LLC
Agreement beginning in the earliest possible of such subsequent Tax Years, as reasonably determined by the Company. For the avoidance of doubt, clause (B) of the preceding sentence shall not prevent an allocation of the Echo Retained Deductions
to Echo or cause the Echo Retained Deductions to be allocated to PST or MCK IPCo. For purposes of this Letter Agreement, “Echo Retained Deductions” means 2.5% of the aggregate amount of depreciation and amortization deductions in
respect of the MCK IPCo Owned Intellectual Property that would be recognized by the Company in accordance with the 3-Year Position. Notwithstanding anything to the contrary contained herein, any allocation or
adjustment effected under clauses (i) or (ii) hereof shall be consistent with applicable law, as reasonably determined by MCK. In the event that MCK, pursuant to this paragraph 3(b), adjusts the manner in which depreciation or amortization
deductions in respect of the MCK IPCo Owned Intellectual Property are allocated among the members of the Company to allocate a cumulative amount of such deductions to Echo in excess of the Echo Retained Deductions (such excess, which will be deemed
to arise only after the entire amount of the Echo Retained Deductions have been allocated to Echo, the “Excess Echo Deductions”), Echo shall pay to MCK, no later than thirty (30) Business Days after the filing of the U.S.
federal income Tax Return of Echo for any taxable year preceding the first Taxable Year (as such term is defined in the MCK Tax Receivable Agreement), an amount of cash equal to the excess of the cash income Taxes that Echo would have paid for such
taxable year if the Excess Echo Deductions had not been allocated to Echo over the amount of cash income Taxes actually paid by Echo for such taxable year (such excess, the “Tax Benefit Amount”). For avoidance of doubt, Echo shall
be entitled to indemnification from MCK under paragraph 2(b)(i) for any income Taxes attributable to any disallowance of the Excess Echo Deductions that would not have been incurred had the 3-Year Position
been upheld in its entirety. Moreover, if at any time within any applicable statute of limitations the Tax Benefit Amount with respect to any taxable year would be reduced if such Tax Benefit Amount were recalculated as of such time to take into
account a reduction in any income of Echo, an increase in any deduction, loss or credit of Echo, or any other event reducing Echo’s recalculated Tax Benefit Amount in respect of such year, MCK shall pay to Echo no later than thirty
(30) Business Days after Echo’s reasonable determination of such reduction in the Tax Benefit Amount an amount of cash equal to such reduction in the Tax Benefit Amount. 

  
 6 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	c.	 The Parties shall cause the LLC Agreement to be amended (it being understood that if for any reason the Parties
do not so cause the LLC Agreement to be so amended the LLC Agreement shall be deemed to be so amended) such that (A) an obligation of Echo to make a payment under paragraph 3(b) of this Letter Agreement in respect of a taxable year shall be
included in clause (i) of the definition of “Tax Distribution Deficit” in the LLC Agreement for purposes of determining a Tax Distribution Deficit of Echo; such that, pursuant to such amendment, the Company will distribute an amount
to Echo sufficient to enable Echo to discharge its obligations under paragraph 3(b) of this Letter Agreement, (B) Echo may declare and pay dividends, distributions, or redemptions or repurchases of its equity securities, with any cash that Echo
receives pursuant to this Letter Agreement or the LLC Agreement if Echo determines, in its sole discretion, that such cash is in excess of the amounts needed to satisfy Echo’s Tax obligations and Echo’s payment obligations under this
Letter Agreement, and (C) the determination of the amount of distributions required pursuant to Section 8.02(a) of the LLC Agreement shall be made by excluding the effect of the Echo Retained Deductions. 

 

	 	d.	 The Parties shall cause the LLC Agreement to be amended (it being understood that if for any reason the Parties
do not so cause the LLC Agreement to be so amended the LLC Agreement shall be deemed to be so amended) such that, in lieu of the allocations described in Section 8.01(b)(ii) of the LLC Agreement, all Unrealized Gain and Realized Gain for any
Tax Year (in each case, as defined in the LLC Agreement) shall be allocated entirely to the members of the Company (or, if applicable, their successors in interest) to which depreciation and amortization deductions in respect of the MCK IPCo Owned
Intellectual Property were actually allocated pursuant to paragraph 3(b) (including, for the avoidance of doubt, pursuant to the provisos thereto), pro rata in proportion to the amount of such depreciation and amortization deductions
previously allocated to them, but only to the extent of the excess, if any, of (A) the cumulative amount of such deductions so allocated to such Persons for all prior Tax Years over (B) the cumulative amount of Unrealized Gain and Realized
Gain allocated to such Persons pursuant to this paragraph 3(d) (and under Section 8.01(b)(ii) of the LLC Agreement prior to its amendment by this paragraph 3(d)) for all prior Tax Years. 

 

	 	e.	 The Parties shall cause the MCK Tax Receivable Agreement to be amended in accordance with Exhibit A, attached
hereto. 

  
 7 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	f.	 The Parties shall cause the LLC Agreement to be amended (it being understood that if for any reason the Parties
do not so cause the LLC Agreement to be so amended the LLC Agreement shall be deemed to be so amended) such that (1) as of the time each Member’s Annual Tax Distribution Amount for a Tax Year is determined under Section 8.02(a)(i) of
the LLC Agreement, the excess, if any, for such Tax Year, of (x) the total of all of a Member’s Estimated Tax Distribution Amounts (as defined in the LLC Agreement) for the Tax Year over (y) the Member’s Annual Tax Distribution
Amount (as defined in the LLC Agreement) for such Tax Year (such excess, a “Tax Distribution Excess”) shall be treated as a current distribution that is an advance described in Treas. Reg.
Section 1.731-1(a)(1)(ii) by the Company to such Member (with respect to which, for avoidance of doubt, there is no imputed interest under Sections 482 or 7872 of the Code or any other provision of law)
until the entire amount of such Tax Distribution Excess has been applied against the Member’s entitlements, if any, to distributions under Section 8.02(a)(i) of the LLC Agreement in respect of subsequent Tax Years (including in respect of
Estimated Tax Distribution Periods (as defined in the LLC Agreement) in such subsequent Tax Years) (such entitlements, a Member’s “Future Entitlements”) or has been otherwise repaid, in each case, pursuant to clause
(2) below (it being understood that any such repayment shall be treated in the Tax Year of such repayment as having the effect of a negative adjustment to such previously made advance); (2) in the event a Tax Distribution Excess exists with
respect to any Member for any Tax Year, the Company shall be entitled to (i) apply all or a portion of such Tax Distribution Excess against, and offset, an equal amount of such Member’s Future Entitlements, if any, or (ii) without
duplication, require such Member to repay all or a portion of such Tax Distribution Excess to the Company within ten (10) Business Days of receipt of written notification from the Company of demand therefor, provided that, if any such
repayment demand is made against such Member, a ratable repayment demand shall be made to all other Members with an unreturned Tax Distribution Excess balance at such time, and provided, further, that, if for any Tax Year a Tax Distribution
Excess exists with respect to Echo, and Echo has, before the time at which a repayment obligation under this clause (2) arises, paid over to a Governmental Authority any portion of the amount corresponding to such Tax Distribution Excess, Echo
shall not be required to repay such portion of the Tax Distribution Excess under this clause (2) until, and to the extent that, Echo receives a refund of the applicable amount so paid over to the Governmental Authority from the Governmental
Authority (but Echo shall promptly make such repayment upon receipt of such refund); (3) a Member’s Tax Distribution Excess for any Tax Year shall be treated as a reduction to such Member’s Total Tax Distribution Amount for such Tax Year
(including, for the avoidance of doubt, for purposes of determining the Member with the highest Tax Distribution Ratio Amount under clause (a)(i) of the definition of “Pro Rata Tax Distribution Amount” in the LLC Agreement and each
Member’s Pro Rata Tax Distribution Amount for such Tax Year); and (4) for any Tax Year, each Member’s Annual Tax Distribution Amount and Estimated Tax Distribution Amounts, as calculated before taking into account this clause (4),
shall be reduced (but not below zero) by the amount of any Tax credit allocated to the Member by the Company for such Tax Year. The Parties acknowledge that the Company will treat Estimated Tax Distribution Amounts under the LLC Agreement as
advances for financial reporting purposes. 

  
 8 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	g.	 The Parties understand that the tax professionals of the Tax Matters Member, on the one hand, and of the
Company, on the other hand, are currently discussing causing the Company to request one or more changes in accounting method on Internal Revenue Service Form 3115 that would have the effect of accelerating certain tax deductions into the
Company’s taxable year ended March 31, 2018 that the Company would otherwise have taken in its taxable year ended March 31, 2019. The Parties shall cause the LLC Agreement to be amended (it being understood that if for any reason the
Parties do not so cause the LLC Agreement to be so amended the LLC Agreement shall be deemed to be so amended) such that in the event that the Company does take any such tax deductions in its taxable year ended March 31, 2018 as a result of any
such change in accounting method, the Company will be deemed to have taken such tax deductions in its taxable year ending March 31, 2019 for purposes of determining the amount of any distributions required pursuant to Section 8.02(a) of
the LLC Agreement. 

  

	4.	 Cooperation on Certain Tax Matters: The Parties hereby agree to take such commercially reasonable
actions as may be necessary to ensure that, if the 3-Year Position is challenged by any Taxing Authority, depreciation or amortization deductions in respect of the MCK IPCo Owned Intellectual Property are
available (x) to (1) MCK for periods before the Closing and (2) thereafter, the Company and the owners of the Company and (y) to the extent consistent with the preceding clause (x), in the earliest possible taxable year;
provided, that it is understood and agreed that the following actions shall be deemed to be commercially reasonable (provided that if there are reasonably quantifiable monetary costs and expenses attributable to such actions, MCK will provide
Echo or the Company, as the case may be, with reasonable indemnity for such costs and expenses): (i) cooperation and coordination in respect of (1) the preparation for any audit by any Taxing Authority relating to the 3-Year Position and (2) the prosecution or defense of any audit, proposed adjustment or deficiency, assessment, claim, suit or other Tax proceeding relating to the 3-Year
Position (each, to the extent relating to the 3-Year Position, a “Relevant Proceeding”); (ii) the filing of original and amended income Tax Returns and (iii) extending relevant statutes
of limitations for assessment of Tax, in each case in a manner consistent with clauses (x) and (y) of the preceding sentence. MCK shall be entitled to assume and control the prosecution or defense of any Relevant Proceeding, and each of the
Company and Echo hereby agrees to take all actions necessary to give effect to such assumption; provided that, in the case of any Relevant Proceeding with respect to the Tax Returns of Echo, the Company or their respective Subsidiaries,
(i) Echo shall be entitled to participate, at its own expense, in any Relevant Proceeding; (ii) MCK and Echo shall promptly notify each other of any written communications received from a third party in relation to any Relevant Proceeding
and promptly provide the other party with copies of any such communications; (iii) MCK shall 

  
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 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 provide Echo with a reasonable opportunity to review in advance any proposed written
communication to any third party in relation to any Relevant Proceeding, and shall consider in good faith Echo’s comments in connection therewith; (iv) MCK shall not participate in any substantive meeting or discussion, either in person or
by telephone, with any Taxing Authority (or representative thereof) in relation to any Relevant Proceeding unless it notifies and consults with Echo in advance, and provides Echo with a reasonable opportunity to attend and participate in such
meeting or discussion; and (v) MCK shall not enter into any settlement of a Relevant Proceeding without the prior written consent of Echo (not to be unreasonably withheld, conditioned or delayed, it being understood that liability for the
payment of any Tax for which MCK agrees to provide reasonable indemnity shall not be a reasonable basis on which Echo may withhold such consent); provided, further, that, in the case of any Relevant Proceeding with respect to the Tax
Returns of MCK or its Affiliates, MCK shall keep Echo reasonably informed of the progress of such Relevant Proceeding, including through providing Echo with copies of relevant correspondence, redacted to exclude any information unrelated to the 3-Year Position; and provided, further, that the immediately preceding proviso shall not require MCK to deliver any information that MCK identifies as commercially sensitive in respect of MCK’s
retained businesses (including, for the avoidance of doubt, the portion of any correspondence that includes any such information) to any Person, other than identified external legal counsel to Echo under agreed confidentiality restrictions that are
reasonably acceptable to MCK. Notwithstanding anything to the contrary contained herein, (i) control of any audit or other proceeding in respect of any Taxes or Tax Returns of the Company no part of which is a Relevant Proceeding shall be
determined in accordance with the LLC Agreement; (ii) Echo shall have the right to control any audit or other proceeding in respect of any Taxes or Tax Returns of Echo no part of which is a Relevant Proceeding; and (iii) in the case of any
audit or other proceeding in respect of any Taxes or Tax Returns of the Company or of Echo that is in part a Relevant Proceeding but that also involves one or more matters or issues unrelated to the 3-Year
Position (such matter or issue, an “Unrelated Issue,” and such audit or other proceeding, a “Mixed Proceeding”), (x) for so long as MCK owns, directly or indirectly, at least 20% of the total outstanding equity
interests in the Company, Echo and MCK shall jointly control, each at its own expense, any portion of a Mixed Proceeding that relates to an Unrelated Issue, and (y) thereafter, Echo shall control, at its own expense, any portion of a Mixed
Proceeding that relates to an Unrelated Issue. 
  

	5.	 Dispute Resolution: In the event of any dispute with respect to any Tax matter relating to this Letter
Agreement, the Parties shall work together in good faith to resolve such dispute within thirty (30) days. In the event that such dispute is not resolved, upon written notice by any party to the dispute after such thirty (30)-day period, any Tax matter relevant to such dispute under this Agreement shall be referred to a U.S. Tax counsel or other Tax advisor of recognized national standing (the “Tax Arbiter”) that will be
jointly chosen by the applicable Parties; provided, however, that if the applicable Parties do not agree on the selection of the Tax Arbiter after five (5) days of good faith negotiation, the Tax Arbiter shall consist of a panel
of three (3) U.S. Tax counsels or other Tax advisors of recognized national standing with one 

  
 10 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

	 	member chosen by MCK, one member chosen by Echo, and a third member chosen by mutual agreement of the other members within the following ten (10)-day period. Each decision of a
panel Tax Arbiter shall be made by majority vote of the members. The Tax Arbiter may, in its discretion, obtain the services of any third party necessary to assist it in resolving the dispute. The Tax Arbiter shall furnish written notice to the
parties to the dispute of its resolution of the dispute as soon as practicable, but in any event no later than ninety (90) days after acceptance of the matter for resolution. Any such resolution by the Tax Arbiter shall be binding on the
parties to the dispute, and the parties to the dispute shall take, or cause to be taken, any action necessary to implement such resolution. All fees and expenses of the Tax Arbiter shall be shared equally by the parties to the dispute. In the event
of any dispute relating to this Letter Agreement, other than any Tax matter dispute, such dispute shall be governed by Section 9.04 of the Contribution Agreement, incorporated by reference pursuant to paragraph 6 of this Letter Agreement.

  

	6.	 Miscellaneous: The provisions of Sections 1.03 (Other Definitional and Interpretative
Provisions), 9.01(a)(i) (Termination), 9.02 (No Assignment), 9.03 (Entire Agreement), 9.04 (Governing Law; Submission to Jurisdiction), 9.07 (Waiver of Jury Trial), 9.09 (Notices), 9.12 (Execution In
Counterparts; Effectiveness), 9.13 (Third Party Beneficiaries) and 9.14 (Severability) of the Contribution Agreement are hereby incorporated by reference into this Letter Agreement, mutatis mutandis. 

[Signatures appear on the following page(s)] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 IN WITNESS WHEREOF, the parties hereto have caused this Letter Agreement to be
executed as of the date first above written. 
  

			
	MCKESSON CORPORATION
		
	By:	 	 /s/ Michele Lau

	Name:	 	Michele Lau
	Title:	 	SVP, Corporate Secretary, Associate General Counsel
	
	PF2 IP LLC
		
	By:	 	 /s/ Michele Lau

	Name:	 	Michele Lau
	Title:	 	SVP, Corporate Secretary, Associate General
		 	Counsel
	
	PF2 PST SERVICES INC.
		
	By:	 	 /s/ Michele Lau

	Name:	 	Michele Lau
	Title:	 	SVP, Corporate Secretary, Associate General
		 	Counsel
	
	HCIT HOLDNGS, INC.
		
	By:	 	 /s/ Nicholas Kuhar

	Name:	 	Nicholas Kuhar
	Title:	 	Authorized Signatory
	
	CHANGE HEALTHCARE LLC
		
	By:	 	 /s/ Derrick Kirkwood

	Name:	 	Derrick Kirkwood
	Title:	 	SVP, Tax

 [Signature page to Amended and Restated Letter] 

  

 The Registrant has requested confidential treatment of this draft registration statement
and associated correspondence 
 pursuant to Rule 83 of the Securities and Exchange Commission. 

 

 
			
	CHANGE HEALTHCARE HOLDINGS, LLC
		
	By:	 	 /s/ Derrick Kirkwood

	Name:	 	Derrick Kirkwood
	Title:	 	SVP, Tax

 [Signature page to Amended and Restated Letter]

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